Las Vegas Sun

December 21, 2014

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In Business 10th Anniversary

2004

Big stories



Real Estate Boom – As the real estate market heated up, two trends emerged: High-rise condominium towers like the Platinum were going up, and many apartment complex owners converted their developments into condominiums.

Monorail – As the Las Vegas Monorail prepared to open, we reported on the monorail stations planned at hotel-casinos. Six years later, the monorail is in bankruptcy but continues to operate.

Job Growth – With the economy booming, our story on Las Vegas leading the nation in job growth in April 2004 was headlined “Envy of the nation.”

Housing Affordability – In 2004, concerns about housing affordability increased. In May 2004, Las Vegas-area home prices averaged $230,000 – up a whopping 41 percent in one year.

Nightclubs Emerge – In November 2004, we reported Pure nightclub was under construction at Caesars Palace – symbolizing the dramatic growth of the club industry on the Las Vegas Strip.



Notable Q&As



Jim Murren, at the time president and chief financial officer of MGM Mirage, was asked in October 2004 about the company’s efforts to convince the Legislature to broaden the state’s tax base.

“We take the view that Nevada -– the young vibrant and still rapidly growing community – has so many needs. Our company doesn’t think it’s healthy to rely on one or two industries to support its budget and support its growth, particularly when so many industries benefit so handsomely financially in this valley and many industries do not pay their share of the tax burden or a fair share of the state budget,’’ Murren said.

Ron Boeddeker, president of Lake Las Vegas developer Transcontinental Corp., was asked in December 2004 whether Lake Las Vegas, which was launched in 1987, was profitable.

“You’re looking at the project closing in on $1.5 billion of invested capital. It’s profitable now. You have to look at how long did it take us to get to be profitable? Two things have happened in that time period. One, Lake Las Vegas has brought in prices far in excess of what we estimated we could sell land here for. On the other hand, it’s taken us longer to get there,’’ Boeddeker said.

Lake Las Vegas filed for bankruptcy in 2008 and its bankruptcy case is still open.



Award winning journalism



Nevada Press Association awards won in 2004

First Place

• Editorial of the Year

• Best Business Coverage

• Best Business News Story – Kevin Rademacher

• Best Editorial Writing – Mike Campbell

• Best Page One Design

• Best Page Designer – Sal DeFilippo

• Best Overall Design

Second Place

• Best Business Feature Story – Liz Benston and Richard N. Velotta

• Best Local Column – Alana Roberts

• Best Portrait – Steve Marcus



40 Under 40: Where are they now?

Stacey Wedding: Class of 2004



Wedding was selected as a member of our 40 Under 40 class in 2004. At the time, she was vice president of donor services and programs for the Nevada Community Foundation.

She oversaw the administration of more than 90 charitable funds dedicated to supporting education, health and human services, the arts, the environment and civic affairs. Her primary responsibility encompassed researching the needs of the community and then matching them with a benefactor’s interests. In addition, she handled marketing public relations and relationship building for the foundation.

Today, Wedding is president of Professionals in Philanthropy LLC – a strategic philanthropy consulting company. It provides consulting services to foundations, businesses and charitable organizations.

Her practice areas include philanthropic research and advising, communications, program research, development and evaluation.

Wedding is actively involved in a number of professional and community organizations, including the UNLV Honors College, Las Vegas Chamber of Commerce, Association of Fundraising Professionals and DJs for PJs.

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