Tuesday, March 31, 2009 | 7 p.m.
In a story in Barron's arguing the stock of NV Energy is undervalued, it was noted that key electrical customers of NV Energy -- casino resorts --- are facing hard times because of the recession.
Not to worry, said Cohen & Steers Global Infrastructure Fund analyst Doug Wilson.
"While tourist visits may be down, casinos generally keep their lights on anyway," he told the newspaper.
Our guess is that they probably leave the water on, too.
Chapman Dodge has moved its dealership from a location on Boulder Highway to newly renovated quarters a few blocks west at 3175 E. Sahara Ave., at Mojave Road.
General Manager Don Hamrick said the company spent $11 million obtaining and renovating the showroom, service bays and office space formerly occupied by Fletcher Jones Toyota, which moved across Mojave to its own new facility on Sahara Avenue.
Hamrick said the company will keep the former Chapman dealership site on Boulder Highway for use at its body shop. Chapman Dodge thought the move would help its business because Boulder Highway has become known for used-car lots, while new-car dealerships are doing well at the East Sahara location that also includes Fairway Chevrolet.
The principal local owner of Chapman Dodge and Chapman Chrysler Jeep, at the Valley Auto Mall in Henderson, is Chris Strahan. The dealerships are part of Jerry Chapman's group of 19 dealerships in Arizona and Nevada.
Hamrick said the investment in the Sahara Avenue dealership reflects the company's faith in the market, and he stressed Chapman Dodge went to great efforts to hire local contractors and vendors to renovate the location. Between the two local dealerships, they employ about 200 people and have an annual payroll of about $15 million, he said.
"We're still profitable. We're enthusiastic about the future, but we still have to get through these tough times,'' he said.
The Reno-based Port of Subs sandwich chain announced its largest-ever product lunch for its new Sliced Fresh Grillers hot sandwiches and wraps.
The company has been in business for more than 35 years and operates in six Western states, and now has 42 restaurants in Southern Nevada.
It said the hot sandwiches will be offered for breakfast, lunch and dinner. Port of Subs said it invested $500,000 on the launch in product research, customer surveys and new restaurant equipment.
Rick’s Cabaret International, Inc., a national operator of topless dancing clubs, said it partnered with the Hard Rock hotel-casino to create the "Rick’s Cabaret Rockstar Suite."
Designed for bachelor parties, the suite offers a private dance floor, a stripper pole and a nightclub-style sound and lighting system. A VIP limousine service is offered to the Rick's Cabaret Gentlemen’s Club in Las Vegas where guests can complete their party, Rick's said.
"The Rick's Cabaret Rockstar Suite will be like having your personal nightclub at the Hard Rock, one of the great entertainment venues of the world," Eric Langan, president and CEO of Rick’s Cabaret, said in a statement. "We are honored to be partnering with the Hard Rock on this very exciting concept, which we think will quickly become a legendary bachelor party experience."
The Nevada District office of the U.S. Small Business Administration has selected its small business award honorees for 2009. They will be recognized at an awards luncheon at the Orleans hotel-casino on May 7.
Rob Dorinson, majority owner and president of Evergreen Recycling in Las Vegas, was named SBA’s Small Business Person of the Year for Nevada and will attend SBA’s National Small Business Week activities in Washington, D.C., May 17-19 to be recognized with the other state Small Business Persons of the Year.
"We are honored by this recognition and proud to represent the State of Nevada in Washington, D.C. From the beginning our mission has been to increase recycling and sustainable practices in Southern Nevada. We feel this award symbolizes our success and progress in this endeavor," Dorinson said.
Other Nevada honorees are:
-- SBA’s Nevada and Region 9 (Guam, Hawaii, California, Nevada and Arizona) Financial Services Champion of the Year: Mary A. Kerner, lending administrator for the Rural Nevada Development Corp., Ely.
-- SBA’s Small Business Exporter of the Year for Nevada: John C. Holliday, founder and president, Aloha Medicinals Inc., Carson City.
-- Microenterprise Business Person of the Year: Lisa McQuerrey, owner, Professional Writing Services, Henderson.
-- Small Business Journalist of the Year: Connie Brennan, publisher, Nevada Business Journal, Henderson.
-- Minority Small Business Champion of the Year: Janis Stevenson, business development advisor, Nevada Small Business Development Center, Las Vegas.
-- Home-Based Business Champion of the Year: Shawn D. Lane, owner, Cheyenne Marketing, Las Vegas.
-- Women in Business Champion of the Year: Carrie Michelle Henderson, president, BEST Agency, Las Vegas.
U-SWIRL International Inc., a subsidiary of Healthy Fast Food Inc., opened a self-serve frozen yogurt store at 305 North Nellis Blvd. U-SWIRL customers choose as many yogurt flavors and toppings as they like, and then pay by the ounce.