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IN BRIEF

RENO

Statewide prices for gasoline up in month

Gasoline prices in Nevada are pacing the soaring price of crude oil internationally, rising 13 cents to $2.92 a gallon statewide in the past month and up 27 cents a gallon in Reno alone.

Ahead of Nevada in the contiguous United States are California, Washington and Montana. Nevada is tied with New York. The national average is $2.76, up 3 cents for a gallon of regular unleaded.

In Nevada, Reno tops the list at $3.12 a gallon, followed by Sparks at $3.08, up 25 cents since the middle of last month. Carson City is right at the $3 mark, up 12 cents.

Las Vegas is the bargain in the state, up a dime to $2.81. Elko rose 2 cents over the past month to $2.92.

Executive cuts ties to Nevada State Bank

Bill Martin said Tuesday that he has retired as nonexecutive chairman of Nevada State Bank and that he is no longer associated with the bank. He intends to remain in Las Vegas.

The 65-year-old Martin said in July that he was stepping down as CEO, a position he held since 1999. Dallas Haun succeeded Martin as CEO.

Martin has been the personification of Nevada State Bank in recent years, appearing in advertisements and television commercials for the bank.

Nevada State Bank did not return calls for comment Tuesday.

 

Official barred from preparing false liens

A federal judge in St. Louis permanently barred William S. Reed of Las Vegas, a founder of the Asset Protection Group, from preparing fraudulent liens for customers and helping customers hide assets in shell corporations, the Justice Department said on Monday.

Reed operated now closed Asset Protection Group, which helped clients place sham liens on their properties to deceive creditors, including the Internal Revenue Service.

The Justice Department lawsuit provides examples of six sham liens for a total of $2 million that Reed and his company helped customers file. The customers owned about $900,000 in federal taxes.

The IRS discovered 75 customers of Asset Protection Group that used nominee bank accounts to evade income taxes.

NEW YORK

Intel to cut 2,000 jobs in fourth quarter

Intel Corp said Tuesday it will eliminate another 2,000 jobs in the fourth quarter as part of cost-cutting program that continues even as the world’s largest chip maker is seeing an environment of improving demand and strengthening financial results.

Chief Executive Paul Otellini also announced that Chief Financial Officer Andy Bryant, who has been CFO since 1994, will move to the position of chief administrative officer. Assistant CFO Stacy Smith will take the post of CFO.

Speaking on a conference call with analysts late Tuesday, Bryant said the Santa Clara, Calif., company expects to end the year with about 86,000 employees, down from 94,000 at the end of 2006.

 

Utilities officials offer forum for complaints

Got a gripe about electric or gas utilities?

The Public Utilities Commission and utility representative will address issues and answer questions from the public during a consumer session scheduled for 2 p.m. Friday.

The meeting will run in the Vista Room of the Henderson Convention Center, 200 S. Water St.

SAN FRANCISCO

Home loans hurt results for Wells Fargo

Wells Fargo & Co.’s profit grew at its slowest pace in more than six years during the third quarter, dragged down by deteriorating home loans likely to cause more trouble in the months ahead.

Wells Fargo, the fifth- largest U.S. bank, reported profit of $2.28 billion, or 68 cents per share, in the three months ended Sept. 30, up from net income of $2.19 billion, or 64 cents per share, a year ago.

The results fell below the average earnings estimate of 70 cents per share among analysts polled by Thomson Financial.

Revenue rose 10 percent to $9.85 billion.

NEW YORK

Microsoft programs enable Outlook calls

Microsoft Corp. on Tuesday launched two new programs that allow people to place calls right from the Outlook e-mail program, but analysts say businesses won’t throw away their reliable office phone systems until the software maker’s tools are just as good.

The latest versions of Office Communications Server 2007 and Office Communicator 2007 add voice calling and video conferencing. Computer users looking at an e-mail in Outlook can see whether the sender and other recipients are online and available to talk. With one click, a user can invite the whole group to an IM chat, a call or a video conference.

Communicator, a desktop application, also shows users whether their contacts are online, much as an IM buddy list does. Users also can see their contacts’ presence on Windows smart phones and new desk and speakerphones that plug into Ethernet jacks or PCs.

NEW YORK

Treasury prices rise after Fed chief speaks

Treasury prices closed higher Tuesday after Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson both warned of continuing economic weakness linked to housing and credit problems.

The benchmark 10-year Treasury note rose 0.25 points from its opening level to 100.72 with a yield of 4.66 percent, down from 4.68 percent at Monday’s close.

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