Las Vegas Sun

January 2, 2010

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Daily, local business news powered by Las Vegas Sun and In Business Las Vegas.

Las Vegas hopes to blitz Super Bowl with ads
Jan. 1, 2010
Executives with the Las Vegas Convention and Visitors Authority and its contracted advertising agency, R&R Partners, will meet early this month to determine if the city’s popular “What happens here, stays here” television ads can be aired during the Super Bowl.

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Growth of distressed commercial properties slows, hits $17.6 billion
Jan. 1, 2010
The number of commercial properties in distress in the Las Vegas area grew in the fourth quarter — but at a slower pace.

9

New-home prices drop as number of sales rises
Jan. 1, 2010
The median price of new homes sold in November in the Las Vegas area dropped under $200,000 for the first time in six years and builders sold the largest number this year, a local research firm reported.

2

Village Square: Embattled 238,000-square-foot property on Sahara Avenue and Fort Apache Road has a $59.7 million mortgage loan.
Demanding rent, Bank of America sues for control of shopping center
Jan. 1, 2010
Investors moved Dec. 17 to seize control of Village Square, a Las Vegas shopping center, charging its owner has failed to turn over rent to the investors as required.

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Survey: Business leaders have hope for national economy, little for LV
Jan. 1, 2010
Southern Nevada business leaders remain pessimistic about the short-term outlook for Las Vegas’ economy and last month suggested any recovery will take a long time.

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Rust Belt, Las Vegas comparison premature — even with gaming in peril
Jan. 1, 2010
Las Vegas may have more in common with Pittsburgh and Detroit than many people realize, says Mary Riddel, a UNLV economist and the interim director of the Center for Business and Economic Research.

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Las Vegas firms learning from recession
Jan. 1, 2010
Having endured the brutal economic downturn of 2009, Las Vegas businesses have learned a thing or two from the continuing recession.

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Fireworks explode over the Aria resort during the official opening Dec. 16. Analyst Jeremy Aguero is bullish on Aria and CityCenter.
Analyst sees signs of improvement in economy
Jan. 1, 2010
Although the Las Vegas economy is mired in a deep recession, a local analyst has pointed to signs of improvement and some hope on the horizon.

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From across the pond: The Strip lights up the night behind a British Airways jet. International traffic was up 5.3 percent at McCarran International Airport.
McCarran traffic up slightly in November; year is down
Jan. 1, 2010
Traffic at McCarran International Airport was up slightly in November compared with a year ago, and the airport’s busiest carrier, Southwest Airlines, had its most improved month of the year with a 9.3 percent increase in passengers.

1

Sluggish economy still hurting retail sales
Jan. 1, 2010
High unemployment and cautious consumer spending are expected to dampen retail sales in Las Vegas once the holiday counts are completed at the end of January, retail analysts said.

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Get cracking
Jan. 1, 2010
Sen. Dianne Feinstein, D-Calif., has introduced legislation that would limit development of renewable energy projects in California’s Mojave Desert, and that has some energy companies looking elsewhere.

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Dave Rhamy, president of Silver State Schools Credit Union, inside the lobby of their building in Las Vegas Monday, December 28, 2009.
Credit union CEO: Talks continue over cash infusion
Dec. 31, 2009
Negotiations are continuing for a cash infusion into troubled Silver State Schools Credit Union, but a plan won’t be finalized until next week at the earliest, the CEO said today.

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Retail vacancy rate dips for first time in 3 years
Dec. 31, 2009
The vacancy rate for office and industrial buildings rose in the fourth quarter, but the retail market halted its slide for the first time in three years, according to a report released this week by CB Richard Ellis.

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The Summerlin Centre Mall sits abandoned in July.
Companies seek payment for work on stalled Summerlin project
Dec. 30, 2009
Construction companies are agitating to be paid for work on the Shops at Summerlin Centre regional shopping mall -- and one says the mothballed project is losing value as its exposed steel superstructure deteriorates due to exposure to the weather.

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In Business TV

Dec. 11

Bank of America responds to criticism from U.S. Sen. Majority Leader Harry Reid about its home loan modification program. Plus, a couple of veteran gamers ... Watch »

Dec. 4

Five years and $8.5 billion later, Citycenter opens its doors during bleak times. Will the gamble pay off? Plus, will a move to ensure union ... Watch »

Nov. 27

Federal,state and local authorities join forces to fight mortgage fraud. Plus,a local doctor cops a plea in the medical mafia case. And, is the recession ... Watch »

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