IN BRIEF
Control board recommends applicant for gaming license
A one-time payday loan operator was tentatively approved Wednesday to run a slot machine-route business by the Gaming Control Board despite questions about the owners' previous business practices.
The Gaming Control Board unanimously sent the application for Coxman Gaming LLC to the Nevada Gaming Commission for approval after questioning the owners, Chet and Karla Cox, about their lack of oversight in Cashbox LLC, which once operated 10 payday loan stores.
The three-member control board recommended a two-year limited slot machine route and distribution license to operate games in seven convenience stores and two bars in Henderson and North Las Vegas.
State financial regulators found that Cashbox had violations in five of its payday loan stores between 2007 and 2009.
The Gaming Commission will hear the matter on March 18.
IRS says it has refunds waiting for tax year 2006
The Internal Revenue Service says it has more than $19 million in unclaimed tax refunds from Nevadans who did not file returns for 2006.
The agency estimates 19,400 taxpayers are owed an average of about $575 each.
The IRS says the money is part of $1.3 billion that has gone unclaimed nationwide for 2006.
The agency says taxpayers must file a return by April 15 in order to collect the money. The nationwide median unclaimed refund is $604.
Aging President Casino wins reprieve from Missouri court
A day before it opens a $380 million suburban casino, Pinnacle Entertainment saw its aging President Casino receive a reprieve from the Missouri Court of Appeals.
The Missouri Gaming Commission wants Pinnacle to apply for a new gaming license for the President Casino, which operates in downtown St. Louis on the Mississippi River near Pinnacle's Lumiere Place.
The application process for a new license would effectively shut down the casino.
The Las Vegas-based casino operator either wants to replace the President or move it to a new location.
A three-judge panel overturned the gaming commission's decision.
Pinnacle opens the River City Casino in suburban St. Louis today.
TRENTON, N.J.
Pfizer Alzheimer's disease drug fails in late-stage study
A promising Alzheimer's disease drug Pfizer Inc. and a partner are developing failed to work in a late-stage study, a startling disappointment after the potential blockbuster kept symptoms from worsening for a year in a prior test.
Pfizer and partner Medivation Inc. said Wednesday that the experimental drug, Dimebon, failed to meet its primary and secondary goals -- improving thinking ability and overall daily function over six months in patients with mild to moderate Alzheimer's disease.
Still, the results don't necessarily spell the end for Dimebon, one of New York-based Pfizer's key prospects.
Medivation and Pfizer, the world's biggest drugmaker by revenue, are continuing three studies that could prove Dimebon helps patients in combination with other Alzheimer's drugs or when used for a longer period.
CARSON CITY
Nevada receives $204,000 as part of Sprint settlement
Nevada has received $204,000 as part of a settlement with Sprint over uncashed rebate checks for phones.
State Treasurer Kate Marshall says along with the payment, her office received the names and address of Nevadans who were sent rebate checks that were never cashed for phones purchased between 1999 and 2002.
Marshall says Sprint also has agreed to report all future unclaimed rebates annually, resulting in about $200,000 over the next three years for Nevada.
The money will be kept in the state's unclaimed property fund, available to return to those entitled to a rebate.
Nevada was one of 36 states to join a lawsuit brought by Iowa officials over the unclaimed rebate checks.
Marshall announced the settlement Tuesday.
DETROIT
Longtime auto executive Bob Lutz, 78, plans to retire
Bob Lutz, the longtime auto industry executive who led nearly a complete overhaul of General Motors' lineup, will retire May 1.
Lutz, 78, confirmed his retirement in an e-mail to The Associated Press on Wednesday.
Lutz, GM's vice chairman and a former U.S. Marine aviator who once crashed his personal helicopter at a Michigan airport, has been responsible for overhauling design at GM and has held senior positions at three other automakers. He has called the Chevrolet Volt, the gas-electric sedan that can go up to 40 miles on battery-power alone, his proudest achievement.
Lutz is also credited with leading crosstown rival Chrysler Group LLC to great success in the 1990s and spent time at Ford Motor Co. and Germany's BMW AG.
DALLAS
Here's a stretch: Continental will charge more for legroom
Continental Airlines will begin charging coach customers extra if they want a seat with more legroom.
Prices will vary depending on the length of a flight and popularity of the route.
A spokeswoman said extra room on a Houston-New York flight might cost $59. International fliers would pay more than that.
Starting March 17, coach customers will be able to pay the charge at check-in to get an exit-row seat with at least 7 inches more legroom than the other rows, Continental said Wednesday.
Top-level members of Continental's frequent-flier program -- those who rack up at least 25,000 miles a year -- and their traveling companions will still be able to claim the exit row without extra charge.
The number of seats with extra legroom will vary depending on the size of the plane. Continental, the nation's fourth-largest airline, doesn't plan to reconfigure its planes to add more such seats.
Officials with the Houston-based airline said the new fee is simply a matter of giving customers more if they're willing to pay for it.
