Business briefs

Report signals further economic growth

NEW YORK -- A key forecasting gauge rose to a new high in December, signaling that the U.S. economy's record expansion should continue well into the year.

The Conference Board said today that its Index of Leading Economic Indicators increased 0.4 percent in December to a record 108.7 after rising 0.3 percent to 108.3 the month before. That was in line with analysts' expectations.

Separately in Washington, the Commerce Department reported that sales of new homes rose 4.5 percent in December, helping to boost the total for the year to an all-time high.

The strong economic readings contributed to jitters on the stock market as it waited for Federal Reserve policy-makers, meeting in Washington for a second day, to announce moves aimed at cooling the economy and hedging against inflation. An interest rate increase was expected.

LV travel executive sues over firing

A Las Vegas man sued his former employer, Players Club Partners LLC of Youngstown, Ohio, and its president and chief executive John Gronvall, alleging they owe him $400,000 in lost wages because they fired him before his three-year contract expired.

In a Clark County District court suit, Robert Colucci, who said he was hired on Jan. 22, 1997, by the discount travel and timeshare sales agency to sell blocks of hotel rooms and gaming packages in Las Vegas at special discounts, alleged he was paid until Labor Day in 1997 and then replaced by Margaret Confer, Players Club's current vice-president of operations.

Colucci alleged the defendants promised to keep him employed for three years and to pay $75,000 annual compensation including 401 K benefits and a mutually agreed bonus program.

Gronvall could not be reached for comment.

Entertainment firm sued over trust funds

The Culinary Union's trust fund filed a federal lawsuit against KR Entertainment Inc. of Las Vegas, alleging it failed to pay $26,312 in health and welfare benefits to its workers' trust fund.

The Hotel Employees and Restaurant Employees International (Culinary) Union Welfare Fund said it provides health and welfare benefits to workers in local unions including the International Alliance of Theatrical Stage Employees, Local 720.

Art Legare, Local 720's secretary treasurer, said several of its stagehands had worked for KR Entertainment, a live show provider.

Scott Ham, KR Entertainment's legal counsel, declined comment.

Firefighters name fund manager

The Las Vegas Firefighters Health & Welfare Trust hired Henderson-based Paragon Asset Management as its money manager.

Paragon will manage a Trust portfolio worth more than $4 million.

The Las Vegas Firefighters Health & Welfare Trust consists of two funds. The first fund helps firefighters pay for their health insurance, while the second fund helps offset the health care costs of retired firefighters.

In business since 1996, Paragon manages in excess of $250 million in assets.

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