IN BRIEF

States' regulators OK buyout of Harrah's

Gambling regulators in Louisiana and Iowa have approved the private equity buyout of Harrah's Entertainment for $17.1 billion.

The states approved the buyout by Apollo Management and Texas Pacific Group, for $90 per share. The deal still requires regulatory approval from other jurisdictions, which the company said it expects by early 2008.

Harrah's owns Caesars Palace in Las Vegas and runs casinos with the Harrah's, Horseshoe, Harveys and Showboat brands.

Aerion says it has $1.5 billion in orders

Aerion Corp., the developer of supersonic private planes backed by Texas billionaire Robert Bass, said it has more than $1.5 billion in preliminary orders.

Aerion began taking letters of intent last month following discussions with manufacturers, the Reno-based company said Tuesday. The planes, at about $80 million apiece, will seat eight to 12 people and fly at speeds up to Mach 1.6.

The company aims to team with an aircraft manufacturer next year and have planes in service in 2014.

SEATTLE

Thrift's moves called desperate by analysts

Washington Mutual's move to slash staff and launch a massive stock offering to shore up its finances may smack of desperation, analysts said Tuesday as the bank's shares tumbled 12.37 percent.

The stock price of the nation's largest savings and loan plunged $2.48 to $17.42 after it said it would close offices, lay off more than 3,000 workers, and cut its dividend. Washington Mutual also worried investors by saying it would set aside up to $1.6 billion for loan losses in the fourth quarter and sell $2.5 billion worth of convertible preferred stock.

Washington Mutual has not yet priced its offering.

RENO

Gasoline prices decline statewide, AAA says

Nevada drivers are getting a reprieve at the gasoline pumps, where prices are down as much as 14 cents from a month ago.

The average price statewide is $3.13 a gallon, 2 cents below the mid-November price, AAA Nevada reported Tuesday.

Las Vegas, North Las Vegas and Henderson all matched the 2-cent drop to average $3.07 a gallon.

The biggest dips were in Reno, Carson City and Sparks -- all 14 cents -- but the prices remain among the highest in the state. Reno averaged $3.16 this week, Sparks $3.15 and Carson City, $3.10.

Only Elko was higher at $3.17 for a gallon of regular unleaded, unchanged from last month.

Just a month ago, Northern Nevada was flirting with record prices in the $3.30 range.

This month's national average is $3, off 11 cents.

NEW YORK

Treasury prices rally after Fed cuts rate

Treasury prices rallied Tuesday after the Federal Reserve lowered the federal funds and discount rates while sending a vague signal that more rate cuts are an option.

The price on the benchmark 10-year Treasury note rose 1.22 points to 102.03 with a yield of 4 percent, down from 4.16 percent late Monday. Prices and yields move in opposite directions.

The 30-year long bond gained 2.06 points to 108.28 with a yield of 4.49 percent, down from 4.62 percent Monday.