Las Vegas Sun

November 28, 2015

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Eli Segall

Business Reporter

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Story Archive

Allegiant Air’s flight dispatchers sever ties with Teamsters
Tuesday, April 28, 2015
Allegiant Air’s flight dispatchers have severed ties with the Teamsters, amid a legal battle between the union and the airline over a threatened pilots strike ...
‘Spec is back’: Developers roll dice by launching major warehouse projects
Tuesday, April 28, 2015
In a market with a shortage of big warehouse space, developers are moving in with plans to build a number of major ...
Report: 55 percent of Nevada homes in foreclosure also heavily underwater
Wednesday, April 22, 2015
Being underwater on your mortgage doesn’t necessarily mean you’ll lose your house to lenders. But more often than not, it does in Nevada, a new report shows ...
Allegiant pilots say pay raise hardly a goodwill gesture in labor dispute
Wednesday, April 22, 2015
With Allegiant Air pilots threatening to go on strike, top boss Maurice “Maury” Gallagher seems to be trying one method to keep them happy and in the cockpit: a pay raise ...
New-home sales, prices pick up steam in March
Wednesday, April 22, 2015
The Las Vegas homebuilding industry picked up the pace in recent months as sales volume climbed and developers laid out more construction plans. Builders sold 543 new homes in Southern Nevada in March, bringing the year’s ...
Developers selling 65 condos in bulk at Strip tower
Tuesday, April 21, 2015
Another bulk-condo sale has hit the market in Las Vegas. Developers of Sky Las Vegas, a 45-story luxury residential tower on the north Strip, have listed ...
Allegiant Air lags in passenger satisfaction survey
Monday, April 20, 2015
U.S. airlines get some of the worst consumer reviews of any industry in America, and Las Vegas’ hometown carrier, Allegiant Air, lags below average, a new report shows. Allegiant ranked sixth for passenger satisfaction among ...
Retail rebound: Sahara Pavilion becomes latest major mall to change hands
Thursday, April 16, 2015
Sahara Pavilion, at the northeast corner of Sahara Avenue and Decatur Boulevard, was once a hot spot for Las Vegas retail. Now, it's part of a trend in which Las Vegas strip malls are being snapped up by ...
First quarter shows mixed signals in Nevada’s continuing foreclosure woes
Wednesday, April 15, 2015
One in every 209 homes statewide received a foreclosure-related filing in the three months ending March 31, the third-highest rate in the nation behind ...
Developments in southwest valley rise after years of delays and defaults
Monday, April 13, 2015
As the economy improves, few places are getting as much action. Developers are building or planning to construct apartment complexes, industrial properties, big-box retail and ...
No strike as Allegiant Air, pilots return to court next week
Friday, April 10, 2015
The threatened strike by Allegiant Air pilots, tabled last week by a federal judge, was again put on hold as the union and management tangle in court. Teamsters Local 1224 agreed ...
Ikea starts construction on gargantuan Las Vegas store
Thursday, April 9, 2015
IKEA, the popular Swedish furniture dealer and meatball slinger, broke ground today on a 351,000-square-foot superstore in Las Vegas. Company officials and construction management crews ...
Southern Nevada retailers pull Blue Bell products amid listeria fears
Wednesday, April 8, 2015
Strains of the illness were found in Blue Bell ice cream products made in Texas. At least four of the patients had eaten Blue Bell ice cream, and three died, according to the U.S. Food and Drug Administration ...
Bounce in Las Vegas home sales might signal listings at ‘more realistic prices’
Wednesday, April 8, 2015
Despite a big jump in sales, Las Vegas used-home prices were flat month-to-month, perhaps indicating that fewer sellers are overpricing. The median sales price ...
Will Sandoval’s praise at IKEA’s Las Vegas groundbreaking soar higher than the sky?
Wednesday, April 8, 2015
Politicians are prone to getting excited for good news, and in Nevada, when it comes to real estate projects, no one gets giddier than the governor. Brian Sandoval has criss-crossed the state for ceremonial groundbreakings to praise developers, their projects and the good things they’re bringing ...
What’s next for disgruntled Allegiant pilots if strike isn’t an option?
Wednesday, April 8, 2015
When a federal judge put the kibosh on Allegiant Air pilots’ attempted strike last week, just hours after they called it, the aviators were left in a tricky spot ...
Mountainside Ascaya community getting over-the-top clubhouse
Tuesday, April 7, 2015
Developers of Ascaya, the long-delayed mountain-mansion project in Henderson, are promising to build one of the most luxurious communities in Southern Nevada. To help lure people in, they’re planning ...
Court issues order blocking Allegiant pilot strike
Wednesday, April 1, 2015
A federal judge has tabled a short-lived effort by Allegiant Air pilots to go on strike, an attempted escalation in a lengthy labor dispute that would have grounded ...
Allegiant Air taking on another $37.5 million in debt
Tuesday, March 31, 2015
After going on a borrowing binge last year, Allegiant Air is taking on more debt. The Las Vegas-based discount airline today closed on a loan to borrow $30 million, putting up two Airbus A319 aircraft as collateral. The carrier also obtained ...
Report: Las Vegas homes among nation’s most overvalued
Tuesday, March 31, 2015
Las Vegas’ housing market is one of the most overvalued in the country, as investors pushed up prices amid limited supply and a sluggish economy, a new report says. Fitch Ratings said today that housing demand ...
Report: Nevada among most financially illiterate states
Tuesday, March 31, 2015
Nevada is near the bottom of yet another ranking of Americans’ financial health, with dismal findings of consumer spending habits. The Silver State is second last among U.S. states and the District of Columbia for ...
Luxury Henderson apartment complex, abandoned during recession, ready for sale
Tuesday, March 31, 2015
When Paula Lane toured Vantage Lofts a few years ago, the stylish, mothballed Henderson condo complex was a scary sight. Windows were boarded up, birds were flying inside, upscale appliances had vanished, and air conditioners were caked in dirt. Today, Vantage is fully built and almost fully leased, and having turned things around, the landlord is ...

Poo patrol: Do your duty — or else
Friday, March 27, 2015
As the business manager at Vantage Lofts, an upscale apartment complex in Henderson, Jeffery Arterberry signs renters, manages finances and oversees maintenance. He also puts residents with pets on alert: the posh, pricey property has poop police. Vantage is one of a few Las Vegas Valley residential properties using ...
Las Vegas home prices leave wage growth in the dust
Wednesday, March 25, 2015
Las Vegas’ soaring home prices outpaced wage growth at one of the fastest rates in the nation the past few years. The average weekly wage in Southern Nevada last year was ...
Report: Rising interest rates could dampen home sales
Tuesday, March 24, 2015
Las Vegas homebuilders are seeing more signs of a turnaround, but with borrowing costs poised to rise, sales could fall again, according to a new report. Builders sold 474 new homes in ...
IKEA set to break ground next month on Las Vegas store
Tuesday, March 24, 2015
Fans of Swedish meatballs and self-assembly cabinets are one step closer to retail paradise. IKEA, the popular low-priced furniture chain, has set a ground-breaking date of April 9 for its first Southern Nevada location ...
As home prices slow, tougher for homeowners to get ‘above water’
Thursday, March 19, 2015
Las Vegas’ once-huge rate of underwater homeowners keeps improving, but as price-growth slows, the flow of borrowers escaping upside-down status has ...
Las Vegas foreclosure filings on the rise, report finds
Wednesday, March 18, 2015
Nevada’s foreclosure woes worsened last month as lenders seized more homes than in January and filed more default notices. One in every 569 homes statewide received ...
Now-vacant banking center at The Lakes once brought hope for Las Vegas economy
Tuesday, March 17, 2015
When the powerful out-of-state company looked to build a big facility in Nevada, there were high-fives all around. Backers said it would diversify the economy, pump in hundreds of technical jobs, lure other big business and improve the area’s image. The governor met with the CEO and, prodded to do whatever it takes, called ...
Comparing the hype: Citicorp then, Tesla now
Tuesday, March 17, 2015
Here’s what people said then, as Citicorp was being lured to Las Vegas, and recently, as Nevada was luring Tesla to build a massive battery plant in Reno, as shown in letters of support, legislative testimony, news articles and ...
Rebuilding years in Southern Nevada
Monday, March 16, 2015
After the bubble and burst, Las Vegas’ commercial real estate industry is picking up again. Weak spots remain, but mothballed projects are being completed, warehouse construction is on the upswing, the bloated office
vacancy rate slowly is improving, investors are buying shopping centers at a fast clip, and land sales are climbing ...
CEO exits Las Vegas bank for marijuana startup
Thursday, March 12, 2015
John Sullivan made a name for himself as medical marijuana investors’ go-to banker in Las Vegas. Now, he has left his job and ...

Summerlin-area penthouse sells for a whopping $7.7 million
Wednesday, March 11, 2015
A Canadian real estate executive and his wife bought a penthouse in the opulent One Queensridge Place towers, in what’s reported to be the most ...
Las Vegas trend of homes on market with no offers seen as ‘troubling’
Tuesday, March 10, 2015
Las Vegas used-home prices rose last month, but industry pros are worried by the continued, “troubling” rise in ignored, overpriced listings.
Real estate in Las Vegas: It makes great television
Tuesday, March 10, 2015
Las Vegas has been a major player in reality television for years, with shows about pawn shops, tattoo artists, hot rods, casinos, cage fighters, limo drivers and polygamists. Now another industry, synonymous with Las Vegas’ wild growth and economic collapse, is gaining more of the spotlight: real estate. Shows about house-flipping ...
New, 90-foot sign going up at the Gramercy
Wednesday, March 4, 2015
A few weeks after imploding the Gramercy’s never-finished condo tower, developers are building another high-rise of sorts at the ...
BLM sells $10.7 million worth of sand, gravel
Tuesday, March 3, 2015
Sand and gravel can be used in the construction of highways, high-rise buildings, power plants, airport runways and bridges, among other things.
Summerlin land values climb to $518,000 an acre
Monday, March 2, 2015
Land values soared in Summerlin last year, with developers commanding higher prices for property amid the opening of the community’s long-delayed retail center. Howard Hughes Corp. sold 280 acres of land ...
Allegiant’s fares stay low while its stock price soars
Friday, Feb. 27, 2015
If a family of four in Missoula, Mont., flies to Las Vegas for vacation this May, they’d pay at least $560 for tickets on budget carrier Allegiant Air. Not a bad deal — or they could scrap the getaway and buy a mere three shares of Allegiant’s ever soaring stock, which closed Thursday at ...
Report: House flipping in Las Vegas has scaled back but remains lucrative
Thursday, Feb. 26, 2015
House flippers are slowing down in Las Vegas and making less money than investors nationally, but they’re still doing plenty of deals here and ...
A tale of two ‘bargains’: One Las Vegas home sold for $8M, the other for $10K
Wednesday, Feb. 25, 2015
At the base of Las Vegas’ western mountain range, a mansion in the Ridges, one of the wealthiest and most exclusive areas of town, has a movie theater with a 15-foot screen, a fitness room, a 4,600-square-foot guest house and a sleek pool area fit for a boutique hotel.
Six former Food 4 Less stores reopening as Smith’s
Tuesday, Feb. 24, 2015
A $25 million makeover turning six Food 4 Less discount grocers in the Las Vegas Valley into Smith’s Food & Drug stores is nearing completion. Management will reopen the stores as ...
Analyst: Home sales picking up, but market still fragile
Friday, Feb. 20, 2015
Las Vegas homebuilders started 2015 on a positive note, even though plenty of weak spots remain, an analyst said. Southern Nevada builders sold 355 new homes in January, down 12 percent from ...
Analysis: Is construction-defect law stunting Nevada’s housing market?
Friday, Feb. 20, 2015
Las Vegas’ once-battered housing market has improved the past few years but remains riddled with problems such as foreclosures, underwater borrowers, flat wages and ...
Businesses opening in downtown Las Vegas high-rise
Wednesday, Feb. 18, 2015
The Juhl, a downtown Las Vegas high-rise, is getting some long-awaited retail. Management announced today that it has signed leases with six businesses to ...
Gravel auction another sign construction industry bouncing back
Tuesday, Feb. 17, 2015
Federal lands officials are selling raw construction materials to the highest bidders in Southern Nevada again, another sign the building industry is back from the dead. The U.S. Bureau of Land Management next month plans to ...
Las Vegas toasts goodbye to the Gramercy
Sunday, Feb. 15, 2015
It was almost 7:30 in the morning, on a Sunday no less, but in Las Vegas, when a building is about to be imploded, it’s never too early for a bloody mary or a mimosa. Under tents, drinks were flowing today as a crowd watched the Gramercy’s residential tower, for years a visible scar of Las Vegas’ building bust, imploded with copper-clad plastic explosives and dynamite ...
Demolition expert prepares for second Las Vegas implosion in a week
Friday, Feb. 13, 2015
Less than a week after imploding the off-Strip Clarion hotel, Ken Mercurio, owner of Reno-based Diversified Demolition Co., was preparing another multistory tower for ...
Got beer? Forgot shampoo? Take your pick of pharmacies on the Strip
Thursday, Feb. 12, 2015
Las Vegas’ resort corridor is peppered with Walgreens and CVS Pharmacy stores, with more on the way. The chains are drawn to the Strip for its heavy foot traffic and tourists’ universal need for water, snacks, medicine and the not-so-occasional hotel-room party.
Landlords want them because pharmacies are stable tenants that ...
Lenders are back to putting squeeze on delinquent Nevada homeowners
Wednesday, Feb. 11, 2015
After backing off for a while, banks ramped up the pressure on delinquent Nevada homeowners last month, seizing more homes and starting the foreclosure process on ...

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