Insurance commissioner plans to leave her post

Insurance Commissioner Alice Molasky-Arman is stepping down after a long regulatory career that included approval in 2007 of a $2.6 billion deal involving Nevada’s largest health insurer — a deal that troubled Gov. Jim Gibbons.

Molasky-Arman, retiring in September, was named commissioner in 1995 and has served under three governors. She’s the longest-serving insurance commissioner in state history. A replacement will be named following a national search.

During her tenure, Molasky-Arman oversaw the transformation of Nevada’s bankrupt industrial insurance system into a private mutual insurer and eventually a publicly traded stock company. She also formed an insurance association that helped doctors during a medical malpractice insurance crisis, and set up programs to fight insurance fraud.

Bank account scheme revealed by authorities

A Nye County sheriff’s investigator says authorities have uncovered a scheme involving 11 people in California and Nevada who allegedly siphoned money out of business bank accounts.

Sheriff’s Detective David Boruchowitz says it looks like one woman, Mercedes Yvon Moore, 24, of Las Vegas, worked at a bank and gave account information to a ringleader who lived in Las Vegas and Compton, Calif.

That woman, Talila Chyna Rodgers, 21, allegedly enlisted others to loot bank accounts from firms in California, Florida, Texas, New York and other states.

So far, one Nevada woman has been arrested. Maria Walker, 27, of Las Vegas, was taken into custody April 4 and released on unspecified bond pending a June 16 date in Pahrump Justice Court.


Arizona: Feds shouldn’t reconsider power line

Arizona regulators who refused to allow a California utility company build a power line from Phoenix to Palm Springs, Calif., last year now hope federal officials won’t even consider overriding their decision.

The Arizona Corporation Commission said the Federal Energy Regulatory Commission shouldn’t even let Southern California Edison formally apply for FERC permission to build the line.

The Edison International subsidiary says the line is needed to reduce congestion in the Arizona-California-Nevada energy corridor while allowing utilities to improve access to power supplies, including electricity from renewable sources.

Panel recommends plans for resort

Backers of a proposed 61-story hotel near the intersection of Charleston Boulevard and Grand Central Parkway in downtown Las Vegas got a boost from the city’s planning commission.

The commission on Thursday approved four items developers need to market the proposed hotel to investors.

The proposal, referred to in one listing as the Grand Central Hotel, would cover about 2 million square feet and draw customers from the nearby World Market Center and other projects.

The vote by the planning commission advances the proposal to the City Council.


Goodyear posts profits, reversing year-ago loss

Goodyear Tire & Rubber Co. said Friday that it swung to a profit in the first quarter by focusing on higher-priced tires.

Goodyear said it earned $147 million, or 60 cents per share, in the quarter ended March 31, reversing a loss of $174 million, or 96 cents per share, a year earlier.

Sales rose 9.8 percent to $4.94 billion from $4.5 billion.


Traders speculate about Fed; Treasurys decline

Treasury prices slid Friday as investors bet that the Federal Reserve will signal next week that it will end its string of interest rate cuts.

The benchmark 10-year Treasury note fell 0.31 points to 97.03 and yielded 3.87 percent, up from 3.82 percent late Thursday, according to BGCantor Market Data. Prices and yields move in opposite directions.

Neon wraps can light up the night for advertising
Vinyl wrap company 5150 Wraps talks about neon wraps, a new technology that the company believes can boost advertising at night. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Nevada on the forefront of drone safety
Dr. Chris Walach, senior director of Nevada Institute for Autonomous Systems, talks to a reporter at NIAS's new Nevada Drone Center for Excellence of Public Safety, located inside the Switch Innevation Center in Las Vegas. K.M. Cannon Las Vegas Review-Journal @KMCannonPhoto
Motel 8 on south Strip will become site of hotel-casino
Israeli hoteliers Asher Gabay and Benny Zerah bought Motel 8 on the south Strip for $7.4 million, records show. They plan to bulldoze the property and build a hotel-casino. Motel 8 was built in the 1960s and used to be one of several roadside inns on what's now the south Strip. But it looks out of place today, dwarfed by the towering Mandalay Bay right across the street.
Project billed as one of the world's largest marijuana dispensaries plans to open Nov. 1
Planet 13 co-CEO Larry Scheffler talks about what to expect from the new marijuana dispensary, Thursday, July 19, 2018. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Oasis Biotech opens in Las Vegas
Brock Leach, chief operating officer of Oasis Biotech, discusses the new plant factory at its grand opening on July 18. (Bailey Schulz/Las Vegas Review-Journal)
UNLV Tech Park innovation building breaks ground
Construction on the first innovation building at the UNLV Tech Park is underway. (Bailey Schulz/Las Vegas Review-Journal)
Caesars Forum Meeting Center
Caesars broke ground Monday on its $375 million Caesars Forum Meeting Center (convention center) just east of the High Roller observation wheel. (Caesars Entertainment)
Technology reshapes the pawn shop industry
Devin Battersby attaches a black-colored device to the back of her iPhone and snaps several of the inside and outside of a Louis Vuitton wallet. The device, installed with artificial intelligence capabilities, analyzes the images using a patented microscopic technology. Within a few minutes, Battersby receives an answer on her app. The designer item is authentic.
Recreational marijuana has been legal in Nevada for one year
Exhale Nevada CEO Pete Findley talks about the one year anniversary of the legalization of recreational marijuana in Nevada. (K.M. Cannon/Las Vegas Review-Journal)
Young adults aren't saving for retirement
Financial advisors talk about saving trends among young adults. (Bailey Schulz/Las Vegas Review-Journal)
President Trump’s tariffs could raise costs for real estate developers, analysts say
President Donald Trump made his fortune in real estate, but by slapping tariffs on imports from close allies, developers in Las Vegas and other cities could get hit hard.
Las Vegas business and tariffs
Barry Yost, co-owner of Precision Tube Laser, LLC, places a metal pipe into the TruLaser Tube 5000 laser cutting machine on Wednesday, June 20, 2018, in Las Vegas. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Nevada Film Office Connects Businesses To Producers
The director of the Nevada Film Office discusses its revamped locations database and how it will affect local businesses. (Bailey Schulz/Las Vegas Review-Journal)
Opendoor isn't the typical house flipping company
Unlike most house flippers, the company aims to make money from transaction costs rather than from selling homes for more than their purchase price.
The Venetian gondoliers sing Italian songs
Gondolier Marciano sings a the classic Italian song "Volare" as he leads guests through the canals of The Venetian in Las Vegas. (K.M. Cannon/Las Vegas Review-Journal)
Building In Logandale
Texas homebuilder D.R. Horton bought 43 lots in rural Logandale. (Eli Segall/Las Vegas Review-Journal)
Indoor farming in Southern Nevada
Experts discuss Nevada's indoor farming industry. (Bailey Schulz/Las Vegas Review-Journal)
Former Fontainebleau could have become a Waldorf Astoria
Months after developer Steve Witkoff bought the Fontainebleau last summer, he unveiled plans to turn the mothballed hotel into a Marriott-managed resort called The Drew. But if Richard “Boz” Bosworth’s plans didn’t fall through, the north Las Vegas Strip tower could have become a Waldorf Astoria with several floors of timeshare units. (Eli Segall/Las Vegas Review-Journal)
LVCVA CEO Rossi Ralenkotter announces plans to retire
Rossi Ralenkotter, CEO of the LVCVA, on Tuesday confirmed a Las Vegas Review-Journal report that he is preparing to retire. Richard N. Velotta/ Las Vegas Review-Journal
Cousins Maine Lobster to open inside 2 Las Vegas Smith’s stores
Cousins Maine Lobster food truck company will open inside Las Vegas’ two newest Smith’s at Skye Canyon Park Drive and U.S. Highway 95, and at Warm Springs Road and Durango Drive. Cousins currently sells outside some Las Vegas Smith’s stores and at Fremont Street and Las Vegas Boulevard. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas home prices to continue to rise, expert says
Lawrence Yun, chief economist at the National Association of Realtors, gives homebuyers a pulse on the Las Vegas housing market. (Eli Segall/Las Vegas Review-Journal)
NV Energy announces clean energy investment
The company is planning to add six solar projects in Nevada, along with the state's first major battery energy storage capacity. Bailey Schulz/Las Vegas Review-Journal
3 Mario Batali restaurants on Las Vegas Strip to close
Days after new sexual misconduct allegations were made against celebrity chef Mario Batali, his company announced Friday that it will close its three Las Vegas restaurants July 27. Employees of Carnevino Italian Steakhouse, B&B Ristorante and Otto Enoteca e Pizzeria, all located in The Venetian and Palazzo resorts, were informed of the decision Friday morning. Bastianich is scheduled to visit the restaurants Friday to speak to employees about the next two months of operation as well as how the company plans to help them transition to new positions.
Nevada has its first cybersecurity apprenticeship program
The Learning Center education company in Las Vegas has launched the first apprenticeship program for cybersecurity in Nevada. It was approved by the State Apprenticeship Council on May 15. (K.M. Cannon/Las Vegas Review-Journal)
Las Vegas union members voting to authorize the right to strike
Thousands of Las Vegas union members voting Tuesday morning to authorize the right to strike. A “yes” vote would give the union negotiating committee the power to call a strike anytime after June 1 at the resorts that fail to reach an agreement. (Todd Prince/Las Vegas Review-Journal)
Small businesses struggle to find qualified candidates
A 2018 survey found that over two-thirds of small businesses in Nevada find it somewhat to very difficult to recruit qualified candidates. Bailey Schulz/Las Vegas Review-Journal
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