Station Casinos to take applications for Aliante
Station Casinos will start accepting applications for its newest property, Aliante Station, starting Sunday, with interviews following July 16.
The company is looking to fill nearly 1,000 positions for the Nov. 11 opening.
Applications will start being accepted Sunday online at www.stationcasinos.com by click on “careers” or by phone at 1-800-720-2127.
The $675 million property is located in North Las Vegas on the corner of Aliante Parkway and the Las Vegas Beltway.
Judge affirms verdict in Las Vegas Sands case
A Clark County District Court judge affirmed a $43.8 million verdict reached in May against Las Vegas Sands Corp., tacking on $14.8 million in interest.
The verdict was in favor of Hong Kong businessman Richard Suen. A jury ruled Suen should be compensated for his efforts in helping the gaming company earn a Macau gaming license in 2002.
The interest of 9.25 percent, or $11,100 per day, on the verdict was calculated from the date of the summons and complaint, which according to court filings was October 2005.
Interest will continue to accrue until the money is paid, court papers show.
Las Vegas Sands Corp. is appealing the verdict.
Jobless-benefits period extended for Nevadans
Nevadans will be able to get an extension on unemployment benefits for as long as 13 weeks, Gov. Jim Gibbons announced Wednesday.
The governor signed an agreement with the U.S. Labor Department for Nevada to participate in the extension of unemployment benefits as provided in the Supplemental Appropriations Act, which was passed last week. The federal government is funding the additional benefits and paying administrative costs of the extension.
Nevada’s Employment Security Division will notify an estimated 50,000 Nevadans who may be eligible for the extended unemployment benefits for a maximum of $362 weekly.
Claims can be made for the extended benefits starting Sunday.
Ex-Golden Nugget owners hired by Wynn
Wynn Las Vegas named former Golden Nugget owners and operators Tim Poster and Tom Breitling senior vice presidents of strategy and development.
The business partners developed Travelscape, an online travel service, before selling the business to Expedia in 1999.
The Poster Financial Group bought the Golden Nugget for $215 million in 2004 but then sold to Houston-based Landry’s Restaurants in September 2005 for $318 million, including debt.
The duo’s operations of the casino were the focus of “The Casino,” a reality show on Fox.
General Motors shares at lowest level since ’54
General Motors Corp. shares fell to their lowest level since 1954 after a Merrill Lynch & Co. analyst said the automaker may need to raise as much as $15 billion and faced the possibility of bankruptcy.
The “dramatic drop-off” in the U.S. sales market probably will continue through 2009, forcing GM to find additional funding, analyst John Murphy, said in a report. He lowered his rating on the shares to “underperform” from “buy.”
GM dropped $1.77, or 15.06 percent, to close at $9.98 on the New York Stock Exchange. That was the lowest since Sept. 2, 1954, adjusted for splits, according to Global Financial Data in Los Angeles. The shares’ daily percentage decline was the steepest since Oct. 19, 1987.
Supply news sends price of oil to record
Oil prices shot to a record above $144 a barrel Wednesday as the government reported a bigger-than-expected drop in U.S. supplies and the threat of conflict with Iran weighed on traders’ minds.
The latest jump means a barrel of crude has gone up by about 50 percent since the end of last year, when oil was going for $96 a barrel.
Light, sweet crude for August delivery rose as high as $144.32 on the New York Mercantile Exchange shortly after the regular trading session ended. The contract also notched a new closing record, settling at $143.57 — $2.60 above the previous high from a day earlier.
American may cut 900 flight attendants
American Airlines says it could cut 900 flight attendant jobs as it reduces flights to cope with record high fuel costs.
The Fort Worth-based airline expects to reduce jobs for pilots and mechanics, too, but it hasn’t released numbers yet.
American, the nation’s largest carrier, said Wednesday that job cuts were necessary “to overcome near-term challenges and secure our company’s long-term future.”
American parent AMR Corp. said in a regulatory filing Wednesday it will take a charge of $70 million to cover severance costs for reducing its work force of 82,000, including the flight attendant jobs.
Further, AMR said, reduced flying and other cutbacks will lead the company to take a noncash accounting charge of about $1.1 billion to $1.2 billion for the just-concluded second quarter. That charge covers the reduced value of the company’s MD-80 and Embraer RJ-135 aircraft fleets.
Honda sales robust as rivals see declines
When consumers astonished the U.S. auto industry two months ago by quickly shunning trucks and going for gasoline mileage, the biggest beneficiary ended up being Honda Motor Co.
In June, while competitors reported double-digit sales declines and burgeoning truck and sport utility vehicle inventories, Honda had a modest 1 percent sales increase. Its car sales were up almost 20 percent from the same month last year, and the Civic and Accord were among the industry’s top sellers.
Industry analysts say Honda has managed to avoid the sales crisis that has hit the Detroit Three and even Toyota Motor Corp. for two reasons.
Although it makes sport utility vehicles and a small pickup, Honda has a strong lineup of cars that get good gasoline mileage. And its factories are so flexible that it can quickly make more of the vehicles that are in demand.
Treasury prices rise ahead of jobs report
Treasury prices rose Wednesday as investors prepared for another downbeat reading on the U.S. job market.
Today, ahead of the July Fourth holiday, the Labor Department is scheduled to report on job creation and the unemployment rate in June. The 10-year note rose 0.25 points to 99.22. Its yield fell to 3.97 percent from 4.01 percent late Tuesday, according to BGCantor Market Data.
The 30-year long bond rose 0.57 points to 97.66. Its yield fell to 4.52 percent from 4.55 percent late Tuesday.