Las Vegas Sun

October 31, 2014

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Eli Segall

Business reporter

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Story Archive

Food 4 Less pulling out of the Las Vegas market
Thursday, Oct. 30, 2014
Discount grocer Food 4 Less is ditching Las Vegas. Management said today it is converting six locations in the valley to Smith’s Food & Drug stores — both brands are owned by Kroger Co. — and closing eight others as it exits the Las Vegas market. The conversions and closures will take place by early next year. Food 4 Less employs ...
Number of Las Vegans without bank accounts on the rise
Wednesday, Oct. 29, 2014
Some 15.3 percent of Las Vegas-area households reported using an “alternative financial service” in the past 30 days when surveyed last year, compared to 12 percent nationally. Another 14.6 percent of local households had used such services in the past year, versus ...
Hughes Center adding cheaper eating options at office park
Wednesday, Oct. 29, 2014
Owners of the Hughes Center are bringing a slate of new eateries to the Las Vegas office park. The Blackstone Group, which bought the 68-acre property last year for $347 million, recently started construction of ...
Investors’ retreat from Las Vegas housing market triggers sales slowdown
Wednesday, Oct. 29, 2014
When investors flocked to Las Vegas for cheap homes after the economy crashed, they resurrected the housing market with sorely needed ...
Report: Outlook for new-home sales not ‘too exciting’
Tuesday, Oct. 28, 2014
A sluggish year for Las Vegas homebuilders isn’t expected to pick up anytime soon, a new report says. Local builders sold 605 new homes last month, bringing the year’s total to ...
First mountainside home lot at Ascaya in Henderson sells — for $925,000
Tuesday, Oct. 28, 2014
Developers of Ascaya, the long-delayed mountain-mansion project in Henderson, have sold their first lot — a 0.46-acre parcel for $925,000. The sale closed Friday, property records show, and sales of two other lots are expected ...
Nevada solar plant workers get nearly $2 million in back pay
Thursday, Oct. 23, 2014
Federal labor officials have recovered almost $2 million in unpaid compensation for workers at a 1,600-acre solar-panel plant near Tonopah. The U.S. Department of Labor said today it recovered about $1.91 million in back wages and fringe benefits for ...
Allegiant Travel earnings down 17 percent for 3rd quarter
Wednesday, Oct. 22, 2014
The parent company of Las Vegas-based Allegiant Air, a discount carrier that connects small cities to resort destinations, reported earnings today for the third quarter ending Sept. 30. Allegiant, with small base fares and lots of add-on fees, said its average total fare ...
Seller of Atomic Liquors building buys bank-owned office building
Tuesday, Oct. 21, 2014
A few months after selling the Atomic Liquors building to Downtown Project, the bar’s bosses have plunked down a few million for an office building in ...
Owner of downtown’s Ogden bucks trend with condo sales blitz
Thursday, Oct. 16, 2014
When investors bought the Ogden and four other Las Vegas residential complexes last year for big dollars, they were among many laying bets on the valley’s apartment market. Now they’re betting they can ...
Hospital group has renewed interest in Henderson medical campus
Wednesday, Oct. 15, 2014
Last year, Dignity Health executives backed out of building a hospital at Union Village, throwing a big wrench in the planned Henderson health care complex. But now ...
Chamber of Commerce finds new home in downtown Las Vegas
Tuesday, Oct. 14, 2014
After leaving its offices at Town Square last year, a Las Vegas business group has found a new home in an unlikely place. The Las Vegas Metro Chamber of Commerce is moving into the ...
Clash with board led to shakeup at Gay and Lesbian Community Center
Tuesday, Oct. 14, 2014
A year after hiring a new chief executive, the Gay and Lesbian Community Center of Southern Nevada has already replaced him with a new top ...
For sale: Blighted Strip land, only $246 million
Sunday, Oct. 12, 2014
The prices are stark reminders that Strip real estate values have plunged since the boom years but still vastly outpace the rest of the valley.
Southern Nevada financial industry paranoid about pot business
Sunday, Oct. 12, 2014
Although medical marijuana was legalized in the state, few so far have been willing to support the industry ...
Developers break ground on massive Henderson health village
Wednesday, Oct. 8, 2014
After years of planning and a major setback, developers of Union Village are gearing up to finally build the colossal Henderson health care complex. The $1.2 billion, 155-acre development is slated to include ...
Las Vegas home sales dip, but prices inch upward
Wednesday, Oct. 8, 2014
Despite a slowdown in sales, Las Vegas used-home prices inched past the $200,000 mark last month. The median price of single-family homes sold in September was ...
Summerlin mall, stalled amid the recession, polishes for opening Thursday
Tuesday, Oct. 7, 2014
The Shops at Summerlin Centre was one of the most visible casualties of the real estate bust in arguably the hardest-hit market in the country. But now, with new owners and a new name — Downtown Summerlin — the project is finally opening. About 85 shops and eateries will be ...
Mining company revives long-dormant gold exploration in tiny Searchlight
Friday, Oct. 3, 2014
There are no grocery stores or doctor’s offices in this speck of a town outside Las Vegas. Most people live in mobile homes, and new suburban-style housing tracts have streets and utilities but, like a ghost town, few or no homes. There are no major employers, and the only restaurants are McDonald’s and a small casino with 10-cent coffee. But a mile or so north of town, a small company is trying to ...
Back in business: Henderson’s Inspirada eager for a comeback
Thursday, Oct. 2, 2014
On the outskirts of southern Henderson, near large swaths of open desert and a small airport buzzing with private planes, the Inspirada community has been a prime example of ...
President resigns at Las Vegas-based Allegiant Air
Wednesday, Oct. 1, 2014
Andrew Levy, Allegiant Air’s day-to-day operations boss and its highest-paid executive, has resigned. The Las Vegas-based discount carrier announced today that ...
Poker player accused of violating commodities trading ban
Tuesday, Sept. 30, 2014
Last fall, Las Vegas poker player and investor Daniel Shak was hit with a $400,000 penalty and trading ban after he was accused of attempting to manipulate oil markets. But, regulators claim, he didn’t ...
Goodwill opening new stores in Las Vegas Valley
Tuesday, Sept. 30, 2014
Goodwill of Southern Nevada is adding two retail stores and relocating another. The nonprofit group, which sells low-priced used clothing, furniture and other goods, said today it will open a new store at ...
Work underway on site for huge Strip music festival
Friday, Sept. 26, 2014
Another project on the north Strip is moving ahead as planned, furthering the anticipated turnaround of an area that’s struggled for years. Construction crews are doing site work at the southwest corner of Las Vegas Boulevard and Sahara Avenue, the future home of the ...
Report: Rising prices a drag on new-home sales
Wednesday, Sept. 24, 2014
Las Vegas homebuilders are stuck in the doldrums as buyers continue to shy away from hefty price tags, a new report shows. Local builders sold 530 new homes in August, bringing this year’s total to ...
Long-planned Henderson health care complex poised to break ground
Wednesday, Sept. 24, 2014
Developers of a colossal Henderson health care project, years behind schedule, say they’re making progress on their plans and getting ready to build. Invitations have gone out to political leaders and businesspeople to attend a ceremonial groundbreaking Oct. 8 of Union Village, the proposed $1.2 billion ...
State high court ruling favors HOAs over banks on home seizures
Thursday, Sept. 18, 2014
Nevada’s highest court has upheld a law that lets homeowners associations foreclose on houses ahead of mortgage lenders, even if HOAs are owed a fraction of what ...
Allegiant CEO buys Las Vegas Boulevard wedding chapel
Wednesday, Sept. 17, 2014
Allegiant Air boss Maurice “Maury” Gallagher, who’s made a fortune selling cheap plane tickets and a bevy of add-on fees, has entered a new, albeit still low-priced, line of business: Las Vegas weddings. Will the new business venture lead to flight and wedding packages? ...
Major speculative industrial project begins in North Las Vegas
Wednesday, Sept. 17, 2014
A Southern Nevada developer plans to build a warehouse that it says will be the area's largest speculative industrial project in years. Prologis, based in San Francisco with ...
VEGAS.com travel site features new look
Tuesday, Sept. 16, 2014
Travel website VEGAS.com has a new look. The site, which lets people buy plane tickets, hotel rooms and show tickets, has overhauled itself with ...
Allegiant Travel boss sells back $25 million in stock
Chairman and CEO Maurice Gallagher still owns about 20 percent of company
Thursday, Sept. 11, 2014
Talk about a good payday. The parent company of discount carrier Allegant Air has bought back 200,000 shares at $126.20 apiece from ...
More parking, more stores coming to Premium Outlets-North
Wednesday, Sept. 10, 2014
Las Vegas Premium Outlets-North is expanding again. Management of the mall, which is on Grand Central Parkway near the Spaghetti Bowl, has expanded a parking garage with 780 more spots and is building ...
LVCVA tables plans to buy land near convention center
Tuesday, Sept. 9, 2014
The Las Vegas Convention and Visitors Authority's board was scheduled to vote today on spending up to $19 million for 4.8 acres of mostly vacant property on Convention Center Drive just east of ...
‘Only a matter of time’: Las Vegas home prices flatten out
Tuesday, Sept. 9, 2014
Las Vegas housing prices were flat last month as the market slows down from its meteoric recovery from the recession. The median sales price of single-family homes in August was ...
Half-price sale: Vacant land on north Strip — $16M an acre
Friday, Sept. 5, 2014
At the peak of the bubble, development firm Triple Five plunked down $180 million for property on the north Strip with plans to build a resort with an observation wheel. Today the land sits mostly empty, a sprawling parking lot in a struggling area, and Triple Five is trying to sell it ...
LVCVA’s sights set on $19M land buy for planned business district
Thursday, Sept. 4, 2014
Las Vegas’ tourism bureau is continuing its real estate buying spree for its planned multibillion-dollar business district. The Las Vegas Convention and Visitors Authority’s ...
Call center opens in Las Vegas, hopes to hire 500
Wednesday, Sept. 3, 2014
C3/CustomerContactChannels, which operates 17 call centers globally, said today it opened a customer-support facility at 490 E. Capovilla Ave. The call center has hired about 300 people and wants 500 more ...
Public Utilities Commission gets a new landlord
Tuesday, Sept. 2, 2014
Developer Jeff LaPour, who built the three-story office building at 9075 W. Diablo Drive, which houses the PUC and other tenants, sold the property on Friday for $17.35 million, county records show.
Developer fashions plan for Las Vegas expo center off I-15 near Strip
Tuesday, Sept. 2, 2014
Developer Jack Kashani, who helped launch the World Market Center furniture-expo hall, has his sights on another massive showcase center for Las Vegas, even though his first one was marred by financial and legal woes. Kashani is rumored to be under contract to buy ...
Another month, another arena project in Las Vegas
Sunday, Aug. 31, 2014
It seems like every month someone has an idea to build an arena in Las Vegas, and almost never with a major professional sports team in mind as an anchor tenant. And that’s the way it is with Jackie Robinson, a former UNLV and NBA player who has received a permit to build on the north Strip.
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 ...

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