IN BRIEF

Fox Business Network to start airing in LV

Fox Business Network, a financial news channel, will start broadcasting Jan. 1 on Cox Communications, airing locally on channel 331.

In a statement, Fox said the deal will make the channel available to more than 2 million Cox digital subscribers and increase the channel’s total distribution to 45 million homes.

Phoenix, San Diego and Santa Barbara, Calif., will join Las Vegas as West Coast Cox markets with the channel.

News Corp. owns Fox Business Network, which began broadcasting in October 2007.

RENO

Gasoline prices keep falling across Nevada

Gasoline prices in Nevada continue to plunge and are at their lowest level in more than four years, AAA reported Tuesday.

“We know there is a bottom down there, we’re just not sure where it is at this point,” AAA Nevada spokesman Michael Geeser said in a statement.

The auto club said the statewide average in Nevada for a gallon of self-serve unleaded dropped 60 cents from November to $1.84.

Nevada’s average price hasn’t been this low since February 2004, Geeser said.

In Las Vegas, the average gasoline price fell 57 cents to $1.82 when compared with last month’s survey.

Prices dropped 56 cents in Reno to $1.90; 65 cents in Carson City to $1.78; and 76 cents in Elko to $1.77.

Nationally, the average price fell 52 cents to $1.70, AAA said.

CHICAGO

Playboy Enterprises chief will step down

After 20 years at the helm of the firm founded by her father, Christie Hefner will step down as chairwoman and chief executive officer of Playboy Enterprises Inc. next month, the adult entertainment company said Monday.

Before the start of trading, Playboy said that Hefner will stay on as CEO until Jan. 31 and remain on the board until a replacement is found. In the meantime, the company said it has appointed Jerome Kern, a longtime director, to be interim nonexecutive chairman.

Hefner leaves as the company remains mired in the loss column, stung by charges and dwindling revenue across almost all of its divisions.

Media companies have been hit hard in the current recession, and those like Playboy have not been exempted.

The stock has also suffered, scraping to an all-time low of $1.03 just weeks ago after trading just shy of $10 at this time last year. Playboy Enterprises shares fell 16 cents, or 7.51 percent, Tuesday to close at $1.97 on the New York Stock Exchange.

Little engine that can’t: Toy-train show derailed

A holiday toy-train exhibit that first went on display 21 years ago at the Citigroup Center office tower is nearing the end of the line, derailed by the bank’s cost-cutting.

The lender, which is eliminating 52,000 jobs after getting a $45 billion government bailout, canceled sponsorship of the free show visited by more than 125,000 people a year. It means a savings of about $240,000 for Citigroup Inc.

Unless the bank reconsiders or another sponsor steps up, the show that started in 1987 in the building’s lobby will end Jan. 2.

As electronics sales sag, Sony cuts jobs

Sony Corp., the second-biggest consumer electronics maker, plans to cut 8,000 full-time jobs as consumers curb spending on televisions, game machines and music players amid a global recession.

The reductions represent 5 percent of the electronics workforce at Sony, and the company will also cut another 8,000 seasonal and part-time jobs.

Sony said it will curtail investments, farm out production and move away from unprofitable businesses by March 2010 to save more than 100 billion yen ($1.1 billion) a year.

CINCINNATI

Hurricane Ike hurts profits for Kroger

Hurricane Ike battered Kroger Co.’s third-quarter profits, and the grocery chain offered a cautious forecast Tuesday amid the churning U.S. economic storm.

The nation’s largest traditional grocer said profits fell 6 percent in the quarter, mainly because of far-reaching damage from Hurricane Ike, even as its sales rose 9 percent.

The Cincinnati-based company said it earned $237.7 million, or 36 cents per share, in the quarter, down from $253.8 million, or 37 cents per share, a year earlier.

The company said results were hurt by an after-tax charge of $15.9 million, or 3 cents per share, related to its $25 million insurance deductible for Ike.

Otherwise, Kroger said earnings would have been $253.6 million, or 39 cents per share.

Revenue rose 9 percent to $17.6 billion.

Analysts polled by Thomson Reuters had predicted earnings of 38 cents per share on revenue of $17.4 billion.

NEW YORK

Treasury prices higher as stocks head down

Treasury prices rose Tuesday as stocks sank. Investors worried that companies’ difficulties could make an economic turnaround harder.

Benchmark 10-year notes rose 0.84 points, their yields easing to 2.67 percent from 2.75 percent late Monday.

ad-high_impact_4
Business
Holiday Parade Lights Up Downtown Summerlin
Holiday parade lights up Downtown Summerlin every Friday and Saturday night through Dec. 22.
Nevada's solar industry on the rebound
In 2015, the Nevada Public Utilities Commission voted in favor of a new tariff structure that reduced net energy metering buyback rates and increased fix fees for residential solar customers.
Apartment complexes selling fast in Las Vegas
Las Vegas’ apartment vacancy rate is among the smallest in the country, and rents are climbing faster than the national average. (LVRJ)
Aristocrat Opens $45M Campus In Summerlin
Aristocrat Technologies Chairman Ian Blackburne discusses the company's growth. (LVRJ)
Sunrise Hospital celebrates 60 years
Sunrise Hospital opened its doors to patients on Dec. 15, 1958. Employees of more than 35 years celebrated at a luncheon Wednesday, Dec. 12, 2018. Jessie Bekker/ Las Vegas Review-Journal.
Maya Cinemas to open soon in North Las Vegas
Moctesuma Esparza, CEO of Maya Cinemas, talks about the newest location in North Las Vegas, set to open Jan. 10. The aim of the theatre chain is to serve latino-centric, underserved communities.
Holiday shopping and returns make this the busiest time of year for UPS
The UPS Las Vegas South facility is the company's busiest pre-load operation in the country, and it's even busier this time of year. (K.M. Cannon/Las Vegas Review-Journal)
Primm’s outlet mall has fallen on hard times
The mall, attached to Primm Valley Resort, opened in 1998. Back then, it was a “textbook, perfect outlet-center location." But now, Primm’s outlet mall has fallen on hard times. Las Vegas Boulevard has endless shopping spots. And there are other outlet malls that don’t require a hefty drive to the state line. Its mortgage-holder foreclosed on the mall in late September.
Miltary auction at Ritchie Bros. Auctioneers
Humvees, ammo cans, construction equipment, field gear and more is on the auction block Friday and Saturday at Ritchie Bros. Auctioneers. About 10,000 items in all are for sale in what GovPlanet bills as the largest auction of its kind.
Las Vegas residents discuss avoiding holiday scams
Las Vegas residents discuss their donation habits and how they avoid giving money to scam charities during the holiday season. (Bailey Schulz/Las Vegas Review-Journal)
Tesla’s Nevada Gigafactory ahead of economic impact expectations
The Tesla Gigafactory’s economic impact on Nevada has exceeded projections, bringing in more than 7,000 jobs. In 2014, Nevada agreed to give the automotive and energy company $1.3 billion in tax abatements. In return, Tesla promised to meet certain requirements in areas like employment and capital investment. As of June, Tesla has brought in a total of $6.05 billion in capital investment, surpassing the $4.95 billion projection. The original contract gave the company until 2024 to make $3.5 billion in capital investments in Nevada. Derek Armstrong, deputy director of the Governor’s Office of Economic Development.
Land sales near the Las Vegas Raiders stadium
Land around the Las Vegas stadium site has been selling for high prices. A few months before the stadium’s groundbreaking, Global Trust Group acquired a 2.5-acre parcel just north of the stadium site. The property sold for $7.25 million, or $2.9 million an acre. Osprey Real Estate Capital and Huntington Hotel Group acquired a 2-acre industrial site just west of the stadium site in late November. The property sold for $6.5 million, or $3.15 million per acre. That's roughly 12 times the average price of land in the valley this year as tracked by Colliers International.
T-Mobile Tech Experience Truck parks in Toshiba Plaza at T-Mobile Arena
The Tech Experience Truck is a state-of-the-art showroom on wheels, with demonstrations that put connected drones, smart cities, augmented/virtual reality and smart tracking. The exhibit shows new wireless technology – including 5G and the Internet of Things (IoT). (K.M. Cannon/Las Vegas Review-Journal)
Steve Siegel, CEO of the Siegel Group, speaks about helping families and other needy residents
Steve Siegel, CEO of the Siegel Group, speaks about helping families and other needy residents to keep them from teetering off into homelessness. Bizuayehu Tesfaye/Las Vrgas Review-Journal @bizutesfaye
Crowds camp out for Chick-fil-A opening
Dozens of customers camped out 24 hours ahead of the 6 a.m. Thursday opening of the new Chick-fil-A on Rainbow Blvd.
Cheapest listings for sale in Las Vegas
Listed for $39,990, 585 S. Royal Crest Circle, Unit #9 is one of the cheapest homes currently listed for sale in Las Vegas. (Caroline Brehman/Las Vegas Review-Journal)
MGM's sports betting deals
MGM Resorts International signed a sports betting sponsorship agreement with the NBA in July It was the first professional sports league to have official ties with a legal sports betting house. The deal came just two months after the U.S. Supreme Court overturned a law prohibiting sports betting in most states. In October, MGM became the first gaming company to sign a sports betting partnership with the NHL. In November, MGM became the first gaming company to sign a sports betting partnership with the MLB. Financial terms of Tuesday’s deal and earlier partnerships have not been announced.
Terry Miller discusses Convention Center
Project Manager Terry Miller explains the phases of Convention Center construction.
Zappos treats their team members on Cyber Monday
Zappos rolls out a variety of food, drinks and special activities for all team members at their downtown Las Vegas headquarters for Cyber Monday. (K.M. Cannon/Las Vegas Review-Journal)
Team Hybrid at the 2019-Model Motor Trend International Auto Show
Among the companies showing off the 2019 model cars, Team Hybrid shows off its modified cars. Las Vegas resident David David talks about the team, which is in its ninth year exhibiting at the show, and his show car.
Black Friday Shoppers at downtown Summerlin and at the Arsenal
Black Friday shoppers at downtown Summerlin and at the Arsenal. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfYe
Black Friday shopping in Las Vegas
Black Friday sale shopers express their shopping experience. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Las Vegas Livestock recycling Strip food waste
Las Vegas Livestock collects and recycles food from many Las Vegas Strip companies. (Nicole Raz/Las Vegas Review-Journal)
Black Friday at Fry's
Shoppers line up for deals early on Black Friday at Fry's Electronics on Las Vegas Boulevard South. (Mat Luschek/Las Vegas Review-Journal)
Black Friday shoppers at Best Buy at 5 am
Black Friday shoppers at Best Buy at 5 am on Nov. 23. (Mat Luschek/Las Vegas Review-Journal
Black Friday - 1am Closing Time
Quiet night.
Black Friday - 12:30am - Best Buy Arroyo Crossing
Sam's Town Holiday Lighting Ceremony
On Wednesday, Nov. 21, 2018, Mystic Falls Park opened with its annual tree lighting ceremony, hosted by Boyd Gaming Executive Chairman Bill Boyd. The attraction features a Winter Wonderland theme and holiday-inspired laser light show, available daily Nov. 23 to Jan. 1. (Mat Luschek/Las Vegas Review-Journal)
What Is A Smart City?
George Karayannis, vice president of CityNow, Panasonic’s smart-city arm, explains. (Nicole Raz/Las Vegas Review-Journal)
Walmart uses virtual reality to train employees
Walmart Academy Facilitator demonstrates the VR training program being used by Walmart stores across the country.
TOP NEWS
News Headlines
Home Front Page Footer Listing
Circular
You May Like

You May Like