Labor board’s case against
Station Casinos gets hearing

The National Labor Relations Board began to present its case Tuesday to an administrative law judge in downtown Las Vegas against Station Casinos, alleging unfair practices related to organizing efforts by Culinary Local 226.

The complaint against Station Casinos accuses the third-largest private employer in Las Vegas of being too aggressive in preventing workers from organizing.

Those tactics allegedly included threats, interrogation, surveillance, bribery, discrimination and physical assault against employees engaged in union activities, according to the complaint.

“We certainly hope Station Casinos will not retaliate against any of the workers who … testify against the company during the NLRB hearing,” said Geoconda Arguello-Kline, president of Culinary Local 226.

Station Casinos spokeswoman Lori Nelson declined to comment. Nelson told the Review-Journal in June after the NLRB issued the complaint that the company will vigorously defend against the allegations.

The union expects the hearing to last about two weeks.

LV home prices rise slightly
in August but down for year

Las Vegas home prices rose slightly in August, but prices continued to drop in U.S. cities, according to a Standard & Poor’s/Case-Shiller 20-city home index released Tuesday.

But Las Vegas also showed the biggest 12-month drop at 4.5 percent. San Francisco had the biggest increase at 7.8 percent, the report showed.

Fifteen of the 20 cities saw prices decline in August from the prior month, led by a 1.3 percent decline in Phoenix and a 1.1 percent drop in Dallas. Detroit led gainers with a 0.5 percent increase, Bloomberg News reported on its website.

Marketwatch reported on its website that it was the first drop in the index after four straight monthly gains as demand spiked because of the homebuyer tax credit that expired at the end of April.

Moody’s has upbeat response
to move by MGM Resorts

The latest move by MGM Resorts International to address the company’s liquidity concerns drew a positive recommendation Tuesday from Moody’s Investors Service.

The ratings agency raised its opinion of the Las Vegas-based casino operator after the company said it hoped to raise about $500 million in unsecured notes due in 2016.

Moody’s changed its outlook on MGM Resorts to “positive” from “stable.”

“The outlook revision to positive reflects the favorable impact on MGM’s liquidity,” Moody’s gaming analyst Keith Foley said in a report.

The company plans to use the funds, along with $511 million raised from a stock offering last week, to retire about $1.2 billion of debt that matures in October 2011.

MGM Resorts has about $13 billion in long-term debt.

“Moody’s anticipates that MGM will now have sufficient revolver capacity to meet its 2011 and 2012 required debt amortizations and guaranty funding obligations for CityCenter,” Foley said.

The analyst said MGM Resorts continues to need further deleveraging transactions.


Ford keeps rolling: Profit
increases and debt eases

Ford is on a roll. Its popular new cars and trucks are grabbing a bigger share of the U.S. market. It’s about to erase a big chunk of its health care debt. And it’s adding a significant number of jobs for the first time in five years.

On Tuesday, the automaker said it made $1.7 billion from July through September, a jump of nearly 70 percent from a year earlier and its sixth consecutive quarter in the black.

The news puts Ford further ahead of its rivals as the U.S. auto industry slowly turns around. Chrysler has yet to make a profit after a stay in bankruptcy last year. General Motors is making money but losing market share — and is still partly government-owned.


Consumer confidence rises,
tops analysts expectation

Confidence among U.S. consumers rose in October from a seven-month low, indicating the biggest part of the economy will take time to recover, Bloomberg News reported on its website.

The Conference Board’s confidence index increased to 50.2 from a revised 48.6 in September, while the proportion of people who said jobs were plentiful fell to the lowest level this year and income expectations were the weakest since April 2009, Bloomberg News reported.

Economists surveyed by Thomson Reuters expected 49.2.

September’s reading was the index’s lowest point since February. An index of 90 indicates a healthy economy.


Toyota, Honda lead quality
rankings; Ford, GM post gains

The most problem-free cars and trucks are made by Honda and Toyota, but Ford is closing in fast and General Motors is making big quality improvements, according to Consumer Reports magazine’s 2010 reliability rankings.

Ford and GM continue to narrow the major quality gap that once separated Toyota and other Asian automakers from their Detroit rivals.

Large, dramatic overhauls of American car companies in the last few years have resulted in fewer brands and better vehicles from Detroit. General Motors recently eliminated the Pontiac brand.

This year’s rankings, based on a survey of about 960,000 magazine subscribers, also restored recommended ratings for several recalled Toyota models and bumped up a pair of Korean brands.

Chrysler, however, continued to languish.


Kimberly-Clark says quarterly
profit tumbles; forecast cut

Consumer products maker Kimberly-Clark Corp. said Tuesday that its third-quarter net income fell 19 percent as making its top-selling tissues and diapers got more expensive, and the company cut its forecast for the full year.

The results fell short of analysts’ expectations, and shares of the
maker of Huggies diapers and
Kleenex tissues fell $3.86, or nearly
6 percent, Tuesday on the New York Stock Exchange.

Costs for key materials such as pulp, polymer resin and oil-based materials rose $265 million in the quarter, the highest quarterly increase the company has ever seen.

Bellagio, MGM Resorts International’s luxury hotel turns 20
The more than 3,000-room Bellagio hotel is situated on the site of the former Dunes Hotel. The Dunes was imploded in 1993, and construction of the Bellagio started in 1996. It cost $1.6 billion to build, making it the most expensive hotel in the world at the time. The Bellagio was former Wynn Resorts Ltd. Chairman and CEO Steve Wynn’s second major casino on the Strip after The Mirage. MGM Resorts International acquired the property from Steve Wynn in 2000. (Tara Mack/Las Vegas Review-Journal)
Facial recognition software at G2E – Todd Prince
Shing Tao, CEO of Las Vegas-based Remark Holdings, talks about his facial recognition product. (Todd Prince/Las Vegas Review-Journal)
Former NBA player, Shaquille O'Neal, speaks about his new Las Vegas chicken restaurant
Former NBA player, Shaquille O'Neal, speaks about his new Las Vegas chicken restaurant. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Bobby Baldwin to leave MGM
MGM Resorts International executive and professional poker player Bobby Baldwin is set to leave MGM.
Caesars has new armed emergency response teams
Caesars Entertainment Corp. has created armed emergency response teams. They are composed of former military and law enforcement officials. "These teams provide valuable additional security capabilities,” Caesars spokeswoman Jennifer Forkish said. Caesars is hiring Security Saturation Team supervisors, managers and officers, according to LinkedIn. The company did not say how many people it plans to hire for the units. (Las Vegas Review-Journal)
Las Vegas, airlines prepare for CES
CES in January is expected to attract more than 180,000 attendees. (Las Vegas Review-Journal)
AGS partners with Vegas Golden Knights
AGS is the nation’s second-largest manufacturer of Class II slot machines used primarily in tribal jurisdictions. It announced a marketing partnership with the Vegas Golden Knights NHL team. (Las Vegas Review-Journal)
Lehman Brothers bet big on Las Vegas
Lehman Brothers collapsed 10 years ago, helping send the country into the Great Recession.
Fremont9 opens downtown
Fremont9 apartment complex has opened in downtown Las Vegas. (Marcus Villagran/Las Vegas Review-Journal) @marcusvillagran
Ross & Snow launches in Las Vegas
Luxury shoe brand Ross & Snow has opened in Las Vegas, featuring "functional luxury" with premium shearling footwear. (Bailey Schulz/Las Vegas Review-Journal)
Remote Identification and Drones
DJI vice president of policy and public affairs discusses using remote identification on drones. (Bailey Schulz/Las Vegas Review-Journal)
Drones and public safety in Nevada
Two representatives in the drone industry discuss UAV's impact on public safety. (Bailey Schulz/Las Vegas Review-Journal)
Frontier Airlines to launch flights from Las Vegas to Mexico
Frontier, a Denver-based ultra-low-cost carrier, will become the first airline in more than a decade to offer international service to Canada and Mexico from Las Vegas when flights to Cancun and Los Cabos begin Dec. 15. (Rick Velotta/Las Vegas Review-Journal)
MGM Resorts International CEO Jim Murren addresses Oct. 1 lawsuits
MGM Resorts International Chairman and CEO Jim Murren addresses criticism his company has received for filing a lawsuit against the survivors of the Oct. 1 shooting. (K.M. Cannon/Las Vegas Review-Journal)
MGM Resorts International opens the doors on MGM Springfield
Massachusetts’ first hotel-casino opens in downtown Springfield. The $960 million MGM Springfield has 252 rooms and 125,000-square-feet of casino. (K.M. Cannon/Las Vegas Review-Journal)
MGM Resorts International prepares to open MGM Springfield
Las Vegas-based MGM Resorts International gave news media and invited guests a preview of the $960 million MGM Springfield casino in Massachusetts. The commonwealth's first resort casino will open Friday, Aug. 24. (K.M. Cannon/Las Vegas Review-Journal)
A Walk Through Circus Circus
It only takes a short walk through Circus Circus to realize it attracts a demographic like no other casino on the Strip: families with young children. (Todd Prince/Las Vegas Review-Journal)
Morphy Auctions, a vintage slot machines seller, wants gaming license
Vice president Don Grimmer talks about Morphy Auctions at the company's warehouse located at 4520 Arville Street in Las Vegas on Thursday, Aug. 16, 2018. (Rick Velotta/Las Vegas Review-Journal)
Nevada's venture capital money doesn't stay in state
Zach Miles, associate vice president for economic development for UNLV, said there’s venture money in Southern Nevada, “but trying to find the right groups to tap into for that money is different.” According to a 2017 report from the Kauffman Foundation, Las Vegas ranked number 34 out of 40 metropolitan areas for growth entrepreneurship, a metric of how much startups grow. With a lack of growing startups in Las Vegas, investment money is being sent outside of state borders. The southwest region of the U.S. received $386 million in funding in the second quarter, with about $25.2 million in Nevada. The San Francisco area alone received about $5.6 billion. (source: CB Insights)
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)
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