WEEK IN REVIEW: Top News

A downgrade in the nation’s bond rating touched off a roller coaster of a week on Wall Street, prompting fears of fallout for Nevada’s fragile, tourism-dependent economy.

The new AA+ credit rating for the federal government is the same rating Nevada had until March when Standard & Poor’s downgraded it to AA. In downgrading Nevada, S&P cited the state’s dependence on tourism spending and the need for an economic recovery in other states as primary factors for the change.

Dow Jones values went up and down all week but have dropped nearly 2,000 points in the past three weeks.

Gaming stocks went along for the nauseating ride. Shares in Wynn Resorts Ltd. fell 7 percent on Aug. 5 and 9 percent on Monday, then rose 10 percent on Tuesday, fell 4 percent on Wednesday, before rising 5 percent on Thursday and 3 percent on Friday.

MONDAY

Paid to resign

Less than three months after she crashed her car and was arrested on drunken driving charges, Henderson City Attorney Elizabeth Quillin agreed to resign in exchange for roughly $120,000 in pay and benefits.

She still faces misdemeanor charges including drunken driving in connection with the May 23 crash.

City Council members approved the deal because they said the city ran the risk of having to pay several hundred thousand dollars had Quillin decided to challenge any attempt to fire her.

TUESDAY

City, union scolded

A frustrated judge ordered North Las Vegas officials and the police supervisors union to make nice and help the city avoid financial disaster.

During a hearing on a union request to freeze $1.1 million in cuts to police supervisors’ pay and benefits, District Judge Susan Scann told city officials and union representatives to meet with another judge for a "mandatory settlement conference" in hopes they can agree on concessions to help the city trim its $4.9 million shortfall.

The city is running out of time to make cuts for fiscal 2012, which began July 1.

WEDNESDAY

Blaze snarls traffic

A tractor-trailer hauling 9,100 gallons of gasoline exploded on southbound Interstate 15 just north of the Spaghetti Bowl, closing a six-mile stretch of freeway for hours and snarling traffic.

The driver escaped unharmed, but flames continued to shoot into the air for almost two hours after the early morning crash.

THURSDAY

School talks stall

Stalled talks between the Clark County School District and its teachers union might put 800 jobs at risk.

District officials announced the two sides have reached an impasse in bargaining that is unlikely to be resolved by Aug. 29, the first day of school.

The stalemate isn’t expected to impede the launch of the new year, but it makes clear that the union is unwilling to grant concessions sought by the district, which needs to close a $56 million budget hole.

FRIDAY

Still coming? Really?

Despite 13.8 percent unemployment and an epic housing bust, recent indicators hint that people are still moving to Southern Nevada.

The number of out-of-state driver’s licenses surrendered in Clark County surged in the first half of 2011, up 21.7 percent over the first six months of 2010.

Then there are customer numbers from NV Energy, which rose about 1 percent and, unlike the driver’s license figures, do take into account the recently departed.

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