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Archive for February, 2006
Thursday, February 23, 2006 More Sun shining By Steve Sebelius When Las Vegas Sun Editor and President Brian Greenspun announced the amendment to the joint-operating agreement with the Review-Journal to his staff last year, he said something very telling. He told assembled staffers — all of whom were fretting about whether they’d have jobs — that the deal to insert the Sun into the daily [...]
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Thursday, February 23, 2006 The airlines had to do it sooner or later By Ian Mylchreest Those lowcost airlines won’t be so lowcost anymore, reports Bloomberg. Southwest and JetBlue will be raising fares to cover higher fuel costs.
JetBlue’s CEO said it would push fares up $5 to $10, as he announced the airline’s first loss since it went public. More importantly for the Las Vegas market, Southwest said its fuel costs [...]
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Thursday, February 23, 2006 Blame it on the CFO By Ian Mylchreest An investigation into the $11 billion manipulation of results at Fannie Mae has found that the CFO and the controller were the main problem, reports the Associated Press. The investigation began in 2004 and focused on the company’s efforts to massage earnings to meet market expectations.
The investigation did not blame former CEO Franklin Raines for [...]
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Wednesday, February 22, 2006 U.S. drops attorneys’ kickback investigation By Ian Mylchreest The poster boys for frivolous securities lawsuits are about to get away again, reports the Los Angeles Times. William Lerach and Melvyn Weiss launched some of the biggest securities class action cases in recent memory but they were suspected of paying kickbacks to plaintiffs. Sources tell the paper they could still face charges if new [...]
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Tuesday, February 21, 2006 Ports deal a bad move for U.S. By Len Butcher
Our president is in the hot seat again, but this time it seems he’s being attacked by almost as many Republicans as he is Democrats. The reason? Endorsing an Arab company to take over the shipping operations at six major seaports in the U.S. Congress is now preparing a bill that will stop Dubai [...]
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Tuesday, February 21, 2006 Boomer real estate boom in Mexico By Ian Mylchreest A big development boom is under way in the northern Baja peninsula reports, the Los Angeles Times. After some developments stalled out in the mid-90s with the peso crash, those projects are now selling well and have provided an alternative to the more famous resorts - Cabo San Lucas and San Jose del Cabo.
And where’s [...]
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Tuesday, February 21, 2006 Retail chains post strong results By Ian Mylchreest Two companies with a big presence in the valley posted strong results today. Both Wal-Mart and Home Depot had strong results, report the Associated Press and Reuters.
The warm weather aided the hardware chain’s 23 percent jump in quarterly earnings, although construction and home improvement seems to be a year-round effort in Southern Nevada. The supply [...]
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Tuesday, February 21, 2006 IPO market is having a great year By Ian Mylchreest The IPO market is enjoying its best year since the dot.com craze, reports BusinessWeek. McDonald’s spin off of Chipotle is leading the way by doubling its share price since the launch a few weeks back.
With 32 offerings priced since Jan. 1, 2006 is shaping up to be a very busy year. Already the number of [...]
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Monday, February 20, 2006 The Sun shines on Walters By Steve Sebelius All eyes on Sunday were transfixed by the Las Vegas Sun insert in the Review-Journal, and the rather lengthy attention given to golf course mogul Bill Walters’ dealings out at the Royal Links golf course.
Where to begin?
With the good news, of course! The Sun made full disclosure: Investigative reporter Steve Kanigher’s story contains [...]
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Monday, February 20, 2006 Will Las Vegas ever be world-class? By Len Butcher Avenue Q, that delightful puppet show at Wynn Las Vegas, has closed. Only eight months since its arrival from Broadway, Steve Wynn has pulled the plug. Not that it wasn’t making money — it was, despite the theatre being only half-filled most nights. It came down to a matter of economics. Wynn will soon be [...]
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