Nevada’s population boom and resilient economy have kept retail demand high, despite a statewide housing downturn. The state economy was home to 1.29 million jobs in the final quarter of 2007, with 5,300 new retail positions created by the holiday shopping season. Nevada is forecasted to see a 5 percent job growth by the decade’s end. “There is reason to be optimistic about … [Read more...] about Nevada’s Retail Market: Remains Resilient Despite Economic Downturn
Archives for April 2008
It’s not easy being green. Easy or not, being green has become increasingly popular. With the latest computer aided drafting software at their disposal, architects now have the resources to make green building a realistic, cost-effective alternative. Green building, the practice of increasing the efficiency of buildings and their use of energy, water and materials, thus … [Read more...] about Innovative Technology: Aiding in Green Practices
There has been a wave of recession declarations coming on the heels of bad news in residential construction. The housing industry produced more than the market absorbed, creating an excess supply of housing units. As a result, U.S. new home starts are down 27.8 percent from the same month a year ago. Reno and Las Vegas have been caught up in the speculative housing behavior of … [Read more...] about April 2008: Business Indicators
Enrollment Systems Benefit Employers Employers are using their benefits enrollment systems to encourage employees to adopt healthier behaviors. A survey of 117 U.S. companies by Watson Wyatt Worldwide found that 53 percent of employers have incorporated health risk assessments into enrollment systems or will incorporate these programs by 2009. More than one-third use … [Read more...] about April 2008: Business Up Front
It might just be one battle, and the victory for the taxpayers may have come from the flanks, but in the ongoing struggle to get elected officials to act in taxpayers’ best interests, we can at least count a win. The Las Vegas Convention and Visitors Authority (LVCVA) has a two-fold mission. It brands and promotes Las Vegas, and it fills hotel rooms with conventioneers by … [Read more...] about Chalk One Up for the Taxpayers: Project Labor Agreement Fails
Las Vegas The Valley’s office market has weakened significantly since the end of 2006. Net absorption decreased substantially from 904,266 in Q3 to 491,365 in Q4. In addition, after three straight quarters of increasing, the absorption-to-completions decreased considerably to 0.45. 2007’s fourth quarter vacancy rate increased to 12.2 percent from 10.9 percent in the third … [Read more...] about Office Market Summary: 4th Quarter 2007
Effective business development can be a daunting task. It’s time consuming. It takes away from regular activities and often requires too much time. Businesses owners are often not experts at business development, so they risk valuable time and money. But, as the adage goes, if you don’t grow your business, chances are your business won’t grow. Businesses let the fundamentals … [Read more...] about Power Rainmaking Techniques: Increase Your Business Profits
Dennis Kennedy Shareholder Bailey Kennedy, Attorneys At Law Las Vegas Number of Employees: 24 Years in Nevada: 32 Years with Firm: 2 Type of business: Law Firm Describe your leadership style: Hire good people. Train them to be good lawyers. Stand behind them when they need it, but mostly, get out of their way and let them do their job. Biggest Business … [Read more...] about April 2008: Face to Face
As the winds of an uncertain economy blow briskly over Nevada, the state’s business leaders expressed their concerns for future challenges as they responded to Nevada Business Journal’s sixth annual Power Poll. With Nevada’s meteoric growth rate slowing, many survey participants indicated they expect bottom lines to reflect that deceleration for most of 2008. Participants also … [Read more...] about Power Poll 2008: Business Leaders Tighten Belts for Uncertain Year Ahead
What’s happening with the residential real estate market? Is the constant barrage of media doom-and-gloom right on target or over the edge? Both ends of the state are experiencing the affects of the market. At Preview 2008 in Las Vegas, Jeremy Aguero, principal of Applied Analysis graphically detailed the industry’s historical trend of peaks and valleys. It was evident that, … [Read more...] about Residential Realities: A Better Future Ahead?
Recently, a group of Nevada-based architects gathered at Cili Restaurant in Las Vegas to discuss current challenges within the profession, including the economic slowdown, staffing issues and sustainable design. Connie Brennan, publisher of Nevada Business Journal, served as moderator for the event that brings industry leaders together to discuss issues pertinent to their … [Read more...] about Industry Focus: Architects
In the plot-defining scene early on in the “The Matrix,” Laurence Fishburne’s character, the sage Morpheus, reveals to the protagonist Neo that the world he thinks he’s been living in is not real. Rather, it’s but a mere simulation of the world as it looked at the end of the 20th Century, a “dream world” created to prevent the entire human race from discovering a horrible … [Read more...] about An Alternate Reality: The Truth About Taxes
It’s no secret that the party in the minority in any democratic form of government is always doing everything it can to change its status and take control. Nearly every part of the agenda is geared toward this goal, and no matter what the discrepancy in seats, the leader of that party can tell you exactly what he or she is doing to become the majority party. In the Nevada … [Read more...] about Campaign Overload: Fighting For Control
“I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years,” said the accomplished investor, Warren Buffet. Although the stock market isn’t likely to close without reopening for any length of time, when it comes to the current environment and the impact of the credit crisis, it is … [Read more...] about Investing in Today’s Market: Risk Management is Key
Southern Nevada Surpasses Conversion Milestone Community residents and businesses recently surpassed 100 million square feet of grass converted to water-efficient landscaping under the Southern Nevada Water Authority’s (SNWA) Water Smart Landscapes (WSL) Rebate program. The 100 million square feet comprises more than 28,000 individual landscape conversion projects. Nearly … [Read more...] about April 2008: Nevada Briefs
Imagine the leadership of a large organization trying to decide which employees to promote to fill a vacated or new position within the organization. The problem with this approach is, in most cases, the names of possible candidates tend to be limited to people the executives in that boardroom know personally. The result, in far too many instances, is that an employee, whether … [Read more...] about Succession Planning: Mapped Out or Knee Jerk Reaction?
The corporate world is undergoing constant change with ever increasing reliance on information technology. Much of the information technology upon which many businesses rely, originates from outside sources rather than in-house. As reliance on outside vendors increases, so do the risks associated with vendor agreements. Here are four useful tips for negotiating and analyzing … [Read more...] about Information Technology Agreements: Negotiating Tips
“It’s Vegas, baby,” for an estimated 7,500 members of The American Planning Association, a nonprofit organization dedicated to urban and rural planning issues. From April 27th through May 1st, The Entertainment Capital of the World will host the APA’s 100th National Planning Conference. It’s no wonder that Clark County represents two of the top 20 fastest growing cities in the … [Read more...] about Adoption of New Planning Model
Keeping Nevadans in their Homes Every member of Congress has had to face the sub-prime mortgage crisis to varying degrees. Here in Nevada, we have been hit particularly hard with a foreclosure rate of one in 154 homes versus the national average of one in 555. In an effort to ease the threat of foreclosure, I have introduced bipartisan legislation which will expand a state’s … [Read more...] about Speaking for Nevada: How is the government helping borrowers in crisis?
Responsible Energy Policy Must Include Coal By Roberto Denis, senior vice president, energy supply, Sierra Pacific Resources While some parties in the energy policy debate have the luxury of simply advancing theories, Sierra Pacific Resources has a very real obligation to deliver electricity to every customer all day, every day. Nevada’s population has grown at a … [Read more...] about State the Issues: How will coal-fired plants impact Nevada?