Second Phase of Tahoe Reno Industrial Center Opened Lance Gilman Commercial Real Estate Services announced the opening of the second phase of the Tahoe Reno Industrial Center, 10 miles east of Sparks on Interstate 80. Development Arts, Inc., a Reno real estate development company, acting as Eagle CPT LLC, was the first to purchase land in the second phase when it acquired 100 … [Read more...] about October 2007: Building Nevada Briefs
Archives for October 2007
October 2007: Business Indicators
It could not last-and, it did not. The push toward increased home ownership, an admirable objective, came with a host of relaxed credit standards; generally referred to as subprime mortgages. Innovative, but relaxed credit standards, abundant funding augmented from expanding global sources; and a rush for quick returns triggered by some early highly profitable events set off a … [Read more...] about October 2007: Business Indicators
The Initiative Process: The Voice of the People
The initiative process provided by the Nevada Constitution gives the state’s citizens the right to force a public vote on an issue if they gather a minimum number of signatures. It is democracy in its purest form. Over the last few years, many measures have been proposed through this process, from legalizing the sale of marijuana, to raising the minimum wage, to regulating … [Read more...] about The Initiative Process: The Voice of the People
Baby Boomer Mistakes: Retirement Preparation
As baby boomers near retirement, they're discovering the pitfall that previous retirees have been complaining about for years – insufficient retirement preparation. Although a wealth of information is available on the subject of retirement planning when the time is near, little has been written about the fundamental importance of planning for retirement early in life. Errors … [Read more...] about Baby Boomer Mistakes: Retirement Preparation
Dealing with Staffing Issues: Nevada Employers Struggle with Labor Shortage
When you ask movers and shakers in Nevada what their greatest challenges are, virtually all of them say that staffing and employment issues continue to cause their biggest headaches. Despite the state’s steady growth in population (6,000 new residents claim Clark County as their home every month), the pool of potential employees is either inadequate in number or qualification … [Read more...] about Dealing with Staffing Issues: Nevada Employers Struggle with Labor Shortage
Economic Development’s Can-Do Attitude: Adapting To A Changing Environment
Fiscal year 2006-2007 was not the rosiest for Nevada’s economic development agencies, with statistics showing mixed success in attracting new companies and their jobs to the Silver State. However, officials at state, regional and local levels are optimistic that Nevada will continue to entice companies seeking a business-friendly climate, low taxes, convenient location and … [Read more...] about Economic Development’s Can-Do Attitude: Adapting To A Changing Environment
The Petition Process: Voter Beware
In recent years, ballots in Nevada have grown exponentially with the proliferation of ballot initiatives, constitutional amendments and referendums. These questions – which seek to do everything from banning smoking in restaurants to attempting to legalize marijuana – circumvent the representative process of government by going directly to the voters for approval. Proponents … [Read more...] about The Petition Process: Voter Beware
Improving Performance Standards: Motivation is Key
When supervisors and managers are unable to meet deadlines or production standards, the call often goes out to hire more people. If you were to poll the employees in most organizations, whether or not they could do more, the vast majority would tell you they could, but aren’t motivated to do so. In many cases, performance standards are out of date with what could actually be … [Read more...] about Improving Performance Standards: Motivation is Key
Should Nevadans be threatened by modern-age bandits? Protecting Nevadans Pockets
Accomplished bank robber Willie Sutton is famously known for answering why he robbed banks by saying, “Because that’s where the money is.” Where is the money today? In early June of 2007, thieves were able to shift nearly $450,000 from a city’s general fund by using a spyware program to mimic the computer strokes made by the financial officer of a small California city. The … [Read more...] about Should Nevadans be threatened by modern-age bandits? Protecting Nevadans Pockets
The Real Estate Market: An Investment or Bust?
Investing in real estate is one way to for people to diversify their financial portfolios. Yet, problems plaguing the mortgage lending industry, coupled with the housing market slowdown, have put big question marks on the prospect. “People are more reluctant to invest because they’re nervous about what’s going on with real estate values,” said David Goldwater, founder and … [Read more...] about The Real Estate Market: An Investment or Bust?
October 2007: Business Up Front
IRS Regulations Affect Compensation Plans The final IRS Section 409A regulations, which will become effective Jan.1, 2008, will impact hedge fund managers’ nonqualified compensation plans. The final regulations clarify several issues impacting fund managers, but subsequent guidance is still pending with respect to many issues. David Simonetti, senior manager in Grant … [Read more...] about October 2007: Business Up Front
Retail Market Summary: 2nd Quarter 2007
Las Vegas June 2007 retail employment was up 3.1 percent (3,000 jobs) from June 2006, according to the Nevada Department of Employment, Training and Rehabilitation. The largest contribution came from the General Merchandise & Clothing sector, with 1,100 jobs added followed by Health & Personal Care Stores sector, with 300 new jobs and Food & Beverage Stores sector, … [Read more...] about Retail Market Summary: 2nd Quarter 2007
October 2007: Face to Face
James Bennett President Chicago Title of Nevada Las Vegas Years in Nevada: 41 Years with Firm: 20 Type of business: Title and Escrow Company Biggest business challenge: Managing the company as the real estate industry expands and contracts. There is a responsibility to all employees to do the best possible job. What do you like best about your job? The … [Read more...] about October 2007: Face to Face
Industry Focus: Residential Brokers
Recently, industry experts sat down at Cili Restaurant in Las Vegas to discuss Nevada’s residential real estate market, including loans, the housing market, media impact, workforce issues and competition. Connie Brennan, publisher of Nevada Business Journal, served as moderator for the event which as part of the NBJ’s monthly Industry Focus series, brings industry leaders … [Read more...] about Industry Focus: Residential Brokers
Federal Land Policy: Creating Economic Hardship in Clark County
Ever since Nevada achieved statehood in 1864, federal agencies have controlled most of the state’s land, refusing to release more than token amounts for construction of homes, schools, parks and businesses. Currently, about 89 percent of Clark County’s surface area is managed by the federal government. Until recently, this situation had little impact on day-to-day living for … [Read more...] about Federal Land Policy: Creating Economic Hardship in Clark County