With the recent volatility on Wall Street, those of us trying to survive on Main Street had better become more financially literate. If the hallowed halls of banking and lending institutions can crumble, so can our respective personal financial frameworks. For the last two years, consumer spending has outpaced after-tax earnings. Additionally, we carry approximately $2.5 … [Read more...] about Economic Turmoil Proves Acute Need for Financial Education Programs
Archives for February 2009
The Great Depression of ‘09? Don’t buy into the hype
No one was surprised to hear the news in December that the U.S. is officially in a recession, as defined by the National Bureau of Economic Research (NBER). It’s no secret that the housing market and the stock market are at their lowest levels in years, credit is tight, unemployment is rising and consumers and businesses are hunkering down and trying to wait out the worst of … [Read more...] about The Great Depression of ‘09? Don’t buy into the hype
Legislature Faces Uphill Battle as Recession Hits Home
Budget cuts? Tax increases? Or Both? The 75th Nevada Legislature will have major tasks to tackle this session. With the state’s budget deficit at an all time high and a revenue shortfall of more than $340 million, many business owners hope the next session will bring answers to budget and tax woes. There is a new balance of power this session, and depending on who you talk to, … [Read more...] about Legislature Faces Uphill Battle as Recession Hits Home
Changes in Disabilities Acts Affects Local Employers
On September 25, 2008, President Bush signed into law the ADA Amendments Act of 2008 (the “Act”). The Act, which is effective January 1, 2009, broadens the scope of protection provided to individuals under the Americans with Disabilities Act of 1990 (the “ADA”). The ADA prohibits employers from discriminating against disabled employees and requires employers to provide … [Read more...] about Changes in Disabilities Acts Affects Local Employers
Commercial Building: The Good, the Bad and the Ugly
With both public and private commercial projects on hold, those who had the foresight to stack the fire wood to the rafters, [backlogged work], will weather the economic downturn nicely throughout the traditional winter doldrums and emerge somewhat bright-eyed and bushy-tailed in the spring. In some instances, commercial builders found themselves high and dry when the storm … [Read more...] about Commercial Building: The Good, the Bad and the Ugly
Commercial Industrial Summary: Third Quarter 2008
Las Vegas Through the 3rd Quarter of 2008, the Las Vegas Valley industrial market continued to report vacancies in the single digits while limited near- to mid-term supply additions will likely keep availability in line with historical averages. During the quarter, the market posted 495,000 square feet of net absorption, bringing market demand for the first nine months of 2008 … [Read more...] about Commercial Industrial Summary: Third Quarter 2008
Industry Focus: Marketing
Recently, 14 marketing professionals gathered at the offices of Holland & Hart, LLP to discuss the current landscape of public relations and advertising such as advancements in technology and its effects on communications and the increasing importance of strong client/agency relationships in challenging times. Connie Brennan, publisher of Nevada Business, served as … [Read more...] about Industry Focus: Marketing
Business Portal Positions the State for the Future
In a time when the private and public sectors alike are focused on managing shrinking budgets and economic survival, it would be a mistake to not also be investing in some way, in the future. Businesses and government alike should not only be working our way through the economic downturn, but also positioning our respective operations for future growth and prosperity, including … [Read more...] about Business Portal Positions the State for the Future
February 2009: Business Indicators
Economic conditions were mixed a year ago. There were very few signs in early 2008 that hinted at severe economic turbulence was on the horizon. Financial conditions weakened by spring, however. The Federal Reserve and the U.S. Treasury came to the rescue, believing that firms were caught in illiquid positions, that is, they had too much long-term investments and too little … [Read more...] about February 2009: Business Indicators
Sheldon Colen: SCA Design
Principal & Founder Henderson Number of Employees: 12 Years in Nevada: 13 Years with Company: 13 Describe your leadership style: I believe in leading by example. I find that my employees are happier when, at crunch time, we all work side by side as a team to get the project done. The long hours are not an issue because we are having fun doing the work together. … [Read more...] about Sheldon Colen: SCA Design
The Power Of The PERS: The Legislature should rein it in
In light of recent turbulence within the economy, many Nevadans now have serious concerns about their future. Unless they are paid with taxpayers dollars, that is. The Nevada Public Employees’ Retirement System (NV PERS) is a wondrous institution — one wonders why policymakers have allowed it to continue so long as currently structured. No retirement system of its kind could … [Read more...] about The Power Of The PERS: The Legislature should rein it in
State the Issues: Should the state constitution be amended to include an annual property tax cap?
YES Nevada’s current tax law effectively nullifies our constitutional guarantee of the right to the pursuit of happiness which our founders clearly understood to include the right to own property. Property owners bear unequal tax burdens because the system lacks uniformity in both method and value. The current “tax abatement” program established by the 2005 Nevada … [Read more...] about State the Issues: Should the state constitution be amended to include an annual property tax cap?
February 2009: Business Up Front
Government Services Increase In Approval Harris Interactive reports that recent survey results reflect a more positive attitude to government in general compared to three years ago. A major reason for this change is surely a decline in the belief that “government is the problem” and a stronger belief that “government is part of the solution” – as a result of the economic and … [Read more...] about February 2009: Business Up Front
Most Respected CEOs
Chief executive officers are held accountable for the success (or failure) of their organizations. The decisions they make are critical to the operations and future viability of their companies. They have an immense responsibility to set the standard for the organization and the direction for the future. In these trying economic times, their jobs are especially difficult as … [Read more...] about Most Respected CEOs
February 2009: Nevada Briefs
NAIOP Study Indicates Amount of Available Land Key to Economy A study was released by NAIOP’s Southern Nevada Chapter which reports, that despite the current market conditions, the increasing scarcity of land (that could be used for industrial development) in the Southern Nevada region will negatively impact the regions economy over time. It was cited that if Southern Nevada … [Read more...] about February 2009: Nevada Briefs