Las Vegas Sun

August 28, 2014

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Eli Segall

Business reporter

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Nonprofit can make 4 million bars of soap a year at NLV plant
Thursday, Aug. 28, 2014
A nonprofit group that distributes soap to poverty-stricken countries is opening a manufacturing plant in North Las Vegas. Global Soap Project, based in Atlanta, has ...
Las Vegans’ credit card debt rising faster than you might think
Tuesday, Aug. 26, 2014
Southern Nevadans are swiping their credit cards more often and racking up debt faster than most consumers nationally. Residents of the Las Vegas metro area had ...
Las Vegas new home sales down
Friday, Aug. 22, 2014
Local developers sold 499 new homes last month, down 23 percent from July 2013, according to a report out today from Las Vegas-based Home Builders Research. The median sales price last month was $290,000, up 9 percent from a year earlier but down 3 percent from January. Despite the slowdown, builders are steadily pulling more construction permits for new homes. ...
Sales of Henderson mountainside mansion lots underway at Ascaya
Thursday, Aug. 21, 2014
If you want to live on a Henderson mountainside, hundreds of feet above the valley floor, get ready to pay big and build big. Ascaya is ...
Another valley Albertsons grocery store set to close
Wednesday, Aug. 20, 2014
Another Albertsons grocery store is closing in the Las Vegas Valley. The Albertsons at the northwest corner of Green Valley Parkway and Sunset Road in Henderson is ...
Courage, leadership, investment needed to effectively push medical tourism here, experts say
Wednesday, Aug. 20, 2014
When people fly out of town for medical care, they often go abroad for low-cost surgery or head to such world-class centers as the Mayo Clinic for care they can’t get at home. They don't usually think of coming to Las Vegas for ...
Preferring Southern Nevada’s workforce over Arizona’s, tent maker plants stakes in Henderson
Tuesday, Aug. 19, 2014
They’ve backed off from building a tent-covered tent manufacturing plant, but owners of Creative Tent International are up and running in Henderson after ditching Arizona. The company — which sells commercial tents in more than 60 countries for banquets, tennis court coverings, helicopter hangars and other uses — has hired ...
Henderson mountain-mansion development Ascaya back in business
Friday, Aug. 15, 2014
Hong Kong billionaire Henry Cheng blasted away a Henderson mountaintop during the real estate bubble, with plans for mansions overlooking the valley from street names such as Heavens Edge, Stonecutter and Epic View. Now after years of sitting untouched, developers are gearing up to ...
Long-abandoned corner of Las Vegas Boulevard and Sahara getting Walgreens
Wednesday, Aug. 13, 2014
It's paving over some colorful history, but a retail plaza with Walgreens is under construction on the north Strip and poised to bring more business to the struggling area. Sorenson Group Management broke ground this spring on a roughly 40,300-square-foot retail center at the northeast corner of Las Vegas Boulevard and Sahara Avenue. Walgreen Co. plans to open next spring, spokesman Phil Caruso said. The site was home to ...
Las Vegas-based Allegiant taking on debt to bolster plane fleet
Tuesday, Aug. 12, 2014
Allegiant Air, the discount carrier fliers love to hate, is on a borrowing binge. Las Vegas’ hometown airline, which historically hasn’t carried a lot of debt, in recent months sold ...
Rising Las Vegas home prices hit ‘nice milestone’
Friday, Aug. 8, 2014
Las Vegas housing prices inched up last month to the highest level in almost six years. The median sales price of previously owned single-family homes in Southern Nevada in July was $200,000, up 0.1 percent from June and 11.1 percent from July 2013, according to a new report from the Greater Las Vegas Association of Realtors. That’s the highest since August 2008, when the median sales price ...
Resort spas might be key to luring medical tourists to Las Vegas, report says
Wednesday, Aug. 6, 2014
Despite its abysmal doctor shortage, business boosters are hoping to make Las Vegas a hot spot for medical tourism, a long hoped-for but elusive ...
Apartment complex rising at the District in Henderson
Tuesday, Aug. 5, 2014
Years after buying the project site, developers are bringing pricey new housing options to the District at Green Valley Ranch in Henderson. Rents in the Calida Group's 360-unit apartment complex are likely to top out at ...
Australian casino mogul takes second chance on north Strip with Frontier site deal
Tuesday, Aug. 5, 2014
Australian casino mogul James Packer took a bath on the Fontainebleau, sinking hundreds of millions of dollars into the doomed Las Vegas resort. But that didn’t turn him off from ...
Longtime Southwest Gas boss is stepping down
Monday, Aug. 4, 2014
Jeffrey Shaw, head of Southwest Gas Corp., is retiring. The Las Vegas-based natural-gas provider said today that Shaw stepped down as company president Aug. 1 and will ...
Australian billionaire planning new Strip casino
Monday, Aug. 4, 2014
Australian casino mogul James Packer has acquired the former New Frontier site on the north Las Vegas Strip and plans to build a resort there. Packer, the billionaire chairman of Crown Resorts Ltd., has teamed with...
Teens rescued after floodwaters sweep them into wash
Monday, Aug. 4, 2014
More than an inch of rain fell in just 15 minutes west of the Las Vegas Strip this afternoon, and two teens were rescued after they were swept down a wash by rushing floodwaters in the ...
Window opening for local home buyers
Sunday, Aug. 3, 2014
Faced with rising prices they helped create, investors have been pulling back for months. And as they buy fewer homes, sales volume is dropping and more listings are being ignored, creating opportunity for other buyers.
South side has its own struggling stretch of Strip
Sunday, Aug. 3, 2014
The north side of the Strip has become synonymous with the failed excesses of the boom years, but the south side has its own stretch of blight ...
Las Vegas Sun owner joins Barrick Gold Corp. board of directors
Saturday, Aug. 2, 2014
Las Vegas Sun owner and publisher Brian Greenspun has joined the board of directors at Barrick Gold Corp., the world’s biggest gold-mining company ...
Downtown Grand names 4 new executives
Wednesday, July 30, 2014
The Downtown Grand has a slate of new executives. Management announced today that Marie Ramsey was hired as chief financial officer; Jeffrey Rabinowitz joined as ...
New-home sales in Las Vegas slide in first half of 2014
Wednesday, July 30, 2014
Sales of new homes in the Las Vegas Valley are down sharply in the first six months of this year compared with the first half of last year. Prices have risen dramatically and builders continue to pull permits, but the reasons some prospective buyers aren't closing deals are ...
Banks moving more aggressively against delinquent Las Vegas homeowners, report says
Friday, July 25, 2014
After a brief lull, lenders are again ramping up pressure on delinquent Las Vegas homeowners. The number of default notices filed in Clark County has climbed ...
New-home sales hit the skids in first half of year
Wednesday, July 23, 2014
Despite a bump in sales last month, it’s been a slow year for local homebuilders. Southern Nevada developers sold 528 new homes in June, making it the best month of 2014, although ...
Pardee Homes gives up land in long-stalled Coyote Springs project
Wednesday, July 23, 2014
Pardee Homes, the former lead residential builder at the Coyote Springs master-planned community, relinquished about 2,500 acres of land at the site an hour from ...
Home prices rising, but still a ways to go
Monday, July 21, 2014
Waiting for rising home values to get back to the boom years? Don't get too excited — it’s going to be a while. ...
Metro: person stabbed by pedestrian on Tropicana
Friday, July 18, 2014
A road-rage incident left one person stabbed and another fleeing the scene on a busy Las Vegas thoroughfare today, according to Metro Police.
Developer secures $312 million loan for Summerlin mall, office project
Wednesday, July 16, 2014
Summerlin developer Howard Hughes Corp. has secured a nearly $312 million loan to finance its massive retail and office project ...
New barracks to replace ‘outdated’ dorms at Nellis Air Force Base
Wednesday, July 16, 2014
Ground will be broken next year on a $30.4 million dormitory for airmen at Nellis Air Force Base. After the new barracks is finished in 2016, two dorms built in 1975 ...
Touro University gets $2 million for campus projects after bond sale
Tuesday, July 15, 2014
The Henderson medical school and three sister campuses — one in the San Francisco Bay area and two in New York — recently banded together to borrow $148.1 million. The Southern Nevada campus got about $40 million.
Ultimate Gaming to run online poker for the El Cortez
Monday, July 14, 2014
The historic El Cortez casino, a holdover from Las Vegas’ mob days, is now lockstep with 21st century gambling. Real-money poker website Ultimate Gaming has reached a deal to run the downtown resort’s...
Southwest Gas buys its headquarters, bids farewell to rent payments
Thursday, July 10, 2014
Southwest Gas has been renting the majority of its corporate headquarters in Las Vegas for more than three decades. But with a $16.5 million cash purchase, the utility ...
Investor impact wanes as Las Vegas home prices climb again
Tuesday, July 8, 2014
Las Vegas home prices continue to rise as investors, lured here by the recession’s bargains, keep backing out. The median sales price of previously owned single-family homes ...
Under the costume, each performer has a story
Sunday, July 6, 2014
In the past several years, the Strip and downtown Las Vegas have become as known for costumed characters as for cards advertising “girls direct to your room.” Those street performers work for little money, often in oppressive heat. “We just here trying to make people laugh,” one said. “That’s all we do.” ...
Caesars, already swimming in debt, headed toward the deep end
Sunday, July 6, 2014
Despite owing $24 billion, the company has its sights set on big projects domestically and in the Far East.
Sale of Showcase Mall a rarity among Las Vegas Strip properties
Wednesday, July 2, 2014
Showcase Mall, the Strip retail center known for its giant Coke bottle and M&M’s out front, has a new landlord. The sale, one of the more lucrative in Las Vegas in recent years for nonresorts, is a rarity because ...
New leader takes the helm at NV Energy
Tuesday, July 1, 2014
NV Energy has a new boss. President and CEO Paul Caudill officially took charge of Nevada’s main electric utility today, after...
NV Energy’s CEO pumps up profits, walks away with millions
Sunday, June 29, 2014
When Michael Yackira took charge of NV Energy in 2007, the company was earning big profits just a few years after it almost went bankrupt. Nevada’s main electric utility stayed in the black on his watch, despite ...
Banking regulators ease scrutiny of Las Vegas lender
Friday, June 27, 2014
U.S. banking regulators have eased their scrutiny of a Las Vegas lender that was bleeding millions of dollars during the recession but is now profitable again. The Federal Deposit Insurance Corp. disclosed...
Want the Palms Place rooftop penthouse? You can snag it for $38 million
Friday, June 27, 2014
Phil Maloof is ready to part ways with his flashy rooftop party pad at the Palms. Among the lavish amenities offered in the residence are ...
Nevadans headed for foreclosure not as quick to abandon home, report says
Wednesday, June 25, 2014
Nevadans who are on track to lose their homes to foreclosure aren’t moving out nearly as often as they used to. But the Silver State still has ...
How to do a short sale
Monday, June 16, 2014
Selling a house through a short sale is about as fast and easy as swimming through a swamp.The sales process can involve stacks of paperwork, back-and-forth calls and emails with bankers and real estate agents, and sudden changes in rules and procedures. Completing a deal can take months, maybe a year, all so an underwater borrower can get out of a house that plunged in value and a buyer can get a good deal ...
Magazine ranks Allegiant among top financial performers
Thursday, June 12, 2014
Allegiant Air, Las Vegas’ hometown carrier, is known for its cheap fares, frequent delays and numerous add-on fees. But the airline also is a cash cow, and based on financial performance, it...
This Las Vegas bank eager to do business with would-be marijuana dispensary
Wednesday, June 11, 2014
If finance executives are worried about getting involved with medical marijuana clients, don’t tell Las Vegas banker John Sullivan. First Security Bank of Nevada has signed on to ...
Las Vegas home prices climbing again; short sales tapering off
Tuesday, June 10, 2014
The median sales price of previously owned single-family homes last month in Southern Nevada was $195,000, up 1.6 percent from April and 14.7 percent from a year ago ...
Strip not yet maxed out on shopping
Sunday, June 8, 2014
Fashion Show Mall, the Grand Canal Shoppes, the Miracle Mile Shops, the Forum Shops, Crystals, the Linq, the Park ... it may not be long before the Entertainment Capital of the World becomes the Shopping Capital of the World. But the people putting their money on the line insist there’s room for more retail — of the right kind.
Bondholders say Caesars defaulted on debt terms
Friday, June 6, 2014
Bondholders are ratcheting up pressure on Caesars Entertainment Corp., saying the debt-laden casino giant defaulted on the terms of possibly more than $1 billion in debt when it sold four casinos to an affiliate this year. Las Vegas-based Caesars, which received ...
UNR’s partnership with MountainView Hospital to boost doctor training in LV
Friday, June 6, 2014
Las Vegas’ critical doctor shortage could finally get some relief. MountainView Hospital and University of Nevada School of Medicine officials said Thursday they will work to create ...
Judge awards Ruvo’s company $5 million-plus in case against competitor
Friday, June 6, 2014
After years of court battles, Las Vegas alcohol distributor Larry Ruvo’s company has been awarded more than $5 million from a competitor that was found to have illegally undercut him. But whether Ruvo collects all of his court-ordered payments is ...
Bally to acquire Israeli online-gaming company
Thursday, June 5, 2014
In his first big move since retaking the helm of Bally Technologies a few weeks ago, CEO Dick Haddrill is buying an Israeli online-gaming firm. Bally, a Las Vegas slot-machine maker, said today it reached a deal to acquire ...

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