Office Summary: Third Quarter 2012

Office Summary: Third Quarter 2012

Las Vegas The office sector witnessed a quarter-over-quarter decline in vacancy rates for the first time in two years. During the third quarter of 2012, the vacancy rate fell to 25.2 percent, down 0.4 percentage points compared to the prior quarter (Q2 2012). However, the rate remains 0.3-percentage points higher than a year ago (Q3 2011). The sector reported approximately … [Read more...]

What is your favorite holiday tradition?

12-12-last-word-150w

“For 14 years, we’ve been providing Christmas to Las Vegas children with “Giving Day.” We provide food, clothing and toys to under-privileged children. The Giving Day tradition has contributed to lives of thousands of families who would have gone without.” Mary Musso • Corporate Broker and Vice President of Sales and Marketing, Distinctive Homes “On Thanksgiving, when … [Read more...]

Work in Progress: An Update on Employment in Nevada

It seems like just yesterday that Nevada was the land of opportunity—the fastest growing state in the nation, with one of the healthiest economies. But the recession has created a vacuum that has given Nevada the highest unemployment rate in the country; at 14.3 percent in November, our rate was 2 points higher than even woebegone Michigan. The Silver State is officially the … [Read more...]

Business Bankruptcy: Understanding the “Worst Case Scenario”

Although filing for bankruptcy could have made debtors instant pariahs some years ago, the process has lost most of its social stigma during the current recession as bankruptcy has become an almost ubiquitous solution to today’s financial woes. The total number of personal and business filings in Nevada rose sharply from 5,542 in 2006 to 10,951 in 2007, to 18,709 in 2008, to … [Read more...]

Priorities for the 2011 Nevada Legislative Session: Control spending, reform budgeting, transparency and education reform top the list

Every company needs a business plan. Without a clear set of goals, a business won’t know what to aim for or whether it has achieved success. Similarly, Nevada conservatives and libertarians need clear goals heading into the 2011 legislative session. The following should top their list: Control taxes by controlling spending. Worried about what higher taxes — specifically a … [Read more...]

Tax Season: Things to Know from the IRS

About 80 percent of businesses use a tax professional to keep their books in order. For the sole proprietor or the largest corporation, record maintenance can be tedious but also valuable as keeping good records can actually save a company money. On the subject of finances and saving money, three new tax laws were enacted in 2010 and many of the provisions in them are … [Read more...]

Multi-family Housing: More Renters in the Recession?

The multi-family segment has taken a pounding along with the rest of the real estate industry. But the good news, say those who know, is that the worst is probably over, and the climb – slow but steady – back to recovery has already begun. Multi-family properties remain a good investment, although investors hoping to scoop them up for a song may well be disappointed. Rents … [Read more...]

Industrial Summary: Fourth Quarter 2010

Las Vegas  The Las Vegas Valley industrial market continued to weaken as pricing declined among an increase in vacancies.  The vacancy rate edged upward to 16.9 percent as 417,700 square feet of negative net absorption was reported during the quarter. For comparison purposes, the vacancy rate is up 0.4 percentage points from the previous quarter (Q3 2010) and up 2.4 percent … [Read more...]

February 2011: Business Indicators

The U.S. economy continues a slow and uneven pace of recovery from its deepest recession since the Great Depression. Estimated growth of real GDP was 2.5 percent at an annualized rate for third quarter 2010—stronger than the 1.7 percent figure for second quarter 2010.  U.S. nonfarm employment rose by a moderate 103,000 jobs (seasonally adjusted) in December, marking the third … [Read more...]

What is your favorite mobile app?

“My favorite Mobile App is ‘Visible Vote’  - it is a non-partisan app that allows you to vote on issues and bills.  It sends  the votes to your elected officials.  It also shows you how they voted, their approval rating, and how your votes coincide with theirs.  It is very interesting, educational, and informative.” Valerie J. Clark, BSN, RHU, LUTCF • President, Clark & … [Read more...]

Nevada Offers Great Value: Golden Opportunities in the Silver State

Folks who have lived in Nevada at least five years will remember times when the state’s biggest challenge was keeping up with growth:  we couldn’t build houses or commercial buildings fast enough to keep up with demand, prices for residential and commercial real estate were spiraling out of control and infrastructure like roads and utilities lagged far behind the growth curve.  … [Read more...]

Powerful Communication: Nevada’s Leading Telecom Companies: You Can Hear Them Now

Years ago, most homes were equipped with one dial-tone phone and a television that actually required someone getting up off the couch to change a channel or turn up the volume. Meanwhile, office phone systems required an operator, of the human sort, to take and direct individual calls for all company employees. Today, thanks to frenetic technological advances in the … [Read more...]

Utilities: The Backbone of the Silver State

The Silver State’s utilities, like almost every other industry, have seen some rocky times.  New competition, shrinking customer bases and fewer move-ins have all resulted in Nevada’s utilities having to make some tough choices. “Utilities” is a catchall phrase for services everyone needs every day: water, power, natural gas. The Public Utilities Commission of Nevada (PUC) … [Read more...]

Lean Manufacturing: What is it and why do it?

U.S. manufacturing and technology is what made our nation a great global power.  Unfortunately, our global rank in manufacturing has been eroded by foreign competition, especially in the last 20 years.  U.S. companies (large and especially small) who implement lean manufacturing practices in the U.S are now showing that we have the ability to turn the tide and become more … [Read more...]

Achieve Success: Marketing Tactics for 2011

2010 proved to be yet another year filled with reports of failed business, continued cutbacks and droves of people wondering…”have we hit bottom yet?”  As the economic tsunami continues to roll through our economy, it carries with it an entire generation’s worth of historical reference with regard to marketing and business development as we know it.  Not one single industry is … [Read more...]

Retail Summary: Third Quarter 2010

Las Vegas     Vacancies declined for the second consecutive quarter, and average asking rents among anchored-retail centers showed signs of continued weakness.  At the close of the third quarter of 2010, the vacancy rate fell a modest five basis points to 10.7 percent compared to the previous quarter.  Compared to the same period of the prior year (Q3 2009), the vacancy rate … [Read more...]

Economic Forecast: Mostly Cloudy with a Chance of Improvement

Business leaders across Nevada are saying they expect 2011 to be slightly better than 2010, which should thrill absolutely no one. Still, better is… better. Viewed from a variety of perspectives – employment, tourism, real estate, gaming, retail and more -- our state’s economic outlook could be worse, and in fact may already have taken its initial steps on the road to … [Read more...]

The Reality of Lending: The New “Norm”

A Nevadan needs $120,000 to open a used sporting goods store but can’t get a loan from a bank. Either he gives up the idea or resorts to creative financing, if possible. In the end, he puts up $40,000 of his own money, gets his landlord to cover $15,000 of tenant improvements, and obtains a $40,000 loan from the state’s micro-loan lender and a $25,000 loan from a Florida … [Read more...]

Now, the Real Fun Begins: What the 2010 elections mean for Nevada’s public policy

Future psephologists (sociologists who study election trends) will undoubtedly look back in puzzlement at how the massive, pro-Republican wave that swept most of the country in 2010 never quite materialized in a few select states, including Nevada. Instead, what the Silver State got was more of a soft ripple. The phenomenon wasn’t limited to races for federal office, … [Read more...]