January 1989 $2.25 He Isntjustaminer, He'san Industry.An Industry1l1at for Him, Miningmeans Ajob and Apaycheck
Total Page:16
File Type:pdf, Size:1020Kb
January 1989 $2.25 He isntjustaminer, he'san industry.An industry1l1at For him, miningmeans ajob and apaycheck. Forus, contributes over $100 million in state and local tax m i n ~g means tax d o l ~rs tohelp pay lor esse ~ pu b l ~ revenue sto Nevadaand tts communities ewry yea< servces, For lOu,mining means Iov.ertaxes, bypmvi:l From those re venues come our schools , ~g """nue lro m sa les , prope rty andnet proceedstaxes universities. hospitals. parks , libra ries, MINING that might otherwisehave tocome from and 1I1e fire andpolce protecton 1I1at all IOU. It's s imp~ . And sim p~ anotllerw.ly that ~:dans depend IT WORKS FOR NEVADA. m i~~~::S Contents Januar y 1989 • Volume 4 - No.1 SPECIAL FEATURE: People to Watch in 1989 6 Every community has its distinctive movers and shakers. Here are a few DEPARTMENTS individua ls who will warrant watch ing in the year 1989. Deregulating Nevada's Banks 37 Silver Dome Banking deregulation means a lot of things to a lot ofpeople. Will services II improve or dete riorate; costs inflate or become more competitive; and will deregulation initia te more failures or strengthen our banking institutions? To Your Health 41 Is the government ove r- regulating the med ical indus try SPECIAL SUPPLEMENT: and sending us on the road to Del Webb Communities opens their much heralded soc ialized med icine? Sun City Summerlin Retirement Community 42 Nevada Briefs Del E. Webb and Howard Hughes: A-4 the Tradition Continues Pension Talk The relationship of these two entrepreneurial giants endures 43 Fixed Income Investment throug h their respective corporations as they both con tinue Dec isions: What are the pros and to shape Nevada's future with developments such as cons of long-term 'Is. short-term Summerlin and Sun City Summerlin. maturities? Southwest Gas: Committed to Excellence Accounting Tips A-8 Despite the magnitude of the project. Southwest Gas is 44 In today's agressive business determined to provide the highes t quality services to its clients. environment every competitive advantage is important. FIB a nd Valley Enter into Their Comp uterizing your business system can help accomplish this. A-IO Largest Corpora te Venture Two of Nevada's most powerful financial inst itutions combine forces to provide financ ing for Del Webb's Ne vada Business Sun City Summerlin. 46 Journal Stock Index The Sun City Sum merlin Team A-I4 a Fa mily Reunion Del Webb's ability to call upon its own experience in On the Cover : addition to that of an already assembled creative team made the creation process of Sun Ci ty Summerlin akin to a family reun ion. Contributing to the Del Webb Sun City A-20 Success Sto ry Success on a projec t the magnitude of Sun City Summerlin depends on a cooperative program dedicated 10 the best performances of e... eryone involved. A few of the companies instrumental to this endeavor have been profiled on these pages. From Planning to Reality A-22 The planning and design of a project as ambitious as Del Webb's Sun City Summerlin is a monumental task. The Donald D. Snyder , First interstate Bank combination of Webb's expertise in this type ofcommunity chairman and chiefexecutive officer coupled with a.c. Wallace's knowledge of local requirements discusses the banking deregu lation laws has resulted in a "win-win" situa tion. being implemented in Nevada. (See page JJ.) Try an SBA Loan PUBLISHERIEDITOR Truekee River Bank Style: • America's Number One SBA lending bank • Approvals in as fast as 24 hours • Loan packaging assistance availabl e • Low interest rates • loans from $100,000 to $1,000,000 • Knowledge & expertise for the perso nal atten tion you deserve Lyle E. Brennan • Meet your business growth needs -c- long-term business loans - long-ter m commercial real estate - new equipm ent and/or capital improvements - increase wor king ca pital ASSOC IATE: PUBLISHER Chuck Dandy For answers to all needs, call anyone ofou r loan centers: ASSOCIATE EDITOR! • Sacramento (9 16) 782-7775 ask for Tony Batis/ella ART DIRECTOR • Truckee (9 16) 582-3000 ask for Leslie Williams Barbara L. Brennan • San Francisco (4 15) 117-3382 ask for John Goddard DIRECTOR OF LAYOUT & PHOTOGRAPHY Truckee River Bank Michael E. Meagher l:I__ EDITORIAL COO RDINATOR 9 =- Jocelyn Conti CONT RIBUTING EDITORS Bob Belknap/Anne tte Bidart Vicki Bertolino/Rick Chulick Coco Crum/Larry Denny Bob GabriellifDavid Hofstede Neil Nordby/James Ross ACCO UNT EXECUTI VE Steve Larson p o o L s s p A s PLBLISHER' S ASSISTAST Bette Carter ASSISTANT LAYOUT ARTI ST Debra Sandoval Th e :rrie>ada BusintsS Jou rnal ishsled in Standard Rates & Data. 1I'2OA·Bu,ines$-!\ietro. Siale & Regional. Advmioers should conlaCt Chucl: Dandy at (702) 735-7003. Orwrile II);Th e ....e'·a da Business Jour nal. Firsllnterslale Tower. Suile 120. 3Soo Howard Hughes Pkwy. Las Vesas. S e,'ada 89109, Demographic infor malion is availa ble upon request, Th e Nnada Businl'SSJournal is published by As><> cialed !\iagari nes Publi,her ( A ~I P ) . Firsl Inlersl<l te To"'.. ,. Suile 120.3800 Howard Hughes Pkwy. Las Vegas. S evada 89109 . ....BJ is publi,hed moolhly. bull: I""l<Ige raid. Subscription rale is 527 .00 pe, )'e..., S ewm and price is 52,25 and special ordersingleeop~' pri« S4.oo. AllconlenI$1989cop~Ti8hl . and reproduc< lion ofmaterial appearing in ....BJ is prohibiled unless $0 au!hon zed by !he publisher of .... BJ . CHA....GE OF ADDRESS: Plea.. send previous ad COMMERCIAL & RESIOENTIAl POOLS· SERVICE & REPAIRS dress or mailing label & n<:"" address. Allow si ~ weeks. EDITORIAL Sl: B!\iISS IOSS: Addre.. all submis_ sions 10 lhe a"enlian of Jocelyn Conli. Un..,lieiled (702) 871-3900 manuscripts must be accompanied by a self-addressed stamped envelope. .... BJ ..sumes no responsibilily for licensed Contractor 24532 · ~56 0 Polaris .22 -Las Vegas , NV 89103 unsoliciled materials . ~ AMP . JANUA RY 11189 Headquartered in Las Vegas, MarCor is a real estate-based investment and service company. Structured to handle a wide range of projects, from site location to development and construction, leasing to property management, MarCor has the financial expertise and hands-on construction industry experience to deliver the results you want, When you look to Nevada, look to MarCor. NASDAQ listed. Symbol: MAAR Nevada Business J ournal SPE CI AL · FEATURE Peaple ta 1989 Profi les of some cf Nevado :s most prominent mo\'ers and shakers .. , individuals who will warrant watching in 1989, Atcheson also is responsible for several firsts in the hoteVcasino industry including establishing the industry 's first public affa irs de pamnent and directing Harrah 's Adc'I)I-A School Program which received the GO\'« nor 's Volunteer Corporate Award. Atcheson joined Harrah's in 1986 as the first director of public affairs, with responsi bilities for creating and implementing pro grams in media relations, government rela tions, community affairs and philanthropy. Prior to joining Harrah's, she served as L)'fln S. A/chew " district representative for Congressman Jim Trudy Larson. M.D. Santini and as government relat ions represen Lynn Atcheson: first Nevadan tative for Sierra Pacific Power Company . at the University of Cali fomi a in Los Angeles. In 1984, Atcheson was chosen "w omen of Here, her banle began and she has followed named to Academy or the Year" by the Reno Business and Profes AIDS developmen ts since. Larson is consi d women Achievers sional Women and in 1986 she received the ered by many 10 be the foremost author ity in Associated General Contractors Award for Nevada on AIDS . She 's one of the state's most Lynn S. Atcheson. public affairs director Skill, lntegn ty and Responsibility. In 1988, sought out speakers and serves as a referral for for Harrah's Reno, has become Nevada 's first she received an honor ary degree from Truckee physicians on AIDS related topics. woman [0 be named [ 0 the prestigious Acad Meadows Community College. Today, Larson's work is ce ntered around emy of Women Achievers. one main goal : "To overcome the public's The Academy of Women Achievers is a irrational fear ofAID S Ihroug h educauo n. and national organization of over 1.000 profes Dr. Trudy Larson on AIDS: 10 be able 10 treat the virus as a medical sional women involved in the prof uandnon condition, as we wou ld any other terminal profit sectors. In 1988, 125 women were hon searching for a cure ... illness." The first step in attaining this goal is ored by the Academy for their achievements educating the pu blic to addre ss the di scrimination issue through and contributions 10 society. legislation and gel the message out to the Atchesonreceivedherawardatthe YWCA's public that AIDS does norpose a threatthrough annual "Salute To Women Achievers" lunch AIDS and Ihe workplace is one of the mos t casu al contact. eon which was held in New York Cily last controve rsial topics of the 19805. Disputes The need for AIDS policies within the busi November. Attending the awards presentation over AIDS seem never ending, but one Nonh ness community is incredibly important. ac were dozens of lop corporate businessmen em Nevada woman is fighting the AID S di cording to Larson. ~A policy needs to be es wooheard remarksfromNew Yoneil)' Mayor lemma head on . tab lished for businesses regarding insurance, Edward I. Koch and J. Richard Munro. chair Tru dy Larson, M.D., an infectious disease hiring and firing , employee education, confi man and chief executive officer of Time, Inc.