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:

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-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 InlerslLas Vegas. S evada 89109 . ....BJ is publi,hed moolhly. bull: I""l

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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. specialist and med ical staff member at Saint deruiality and reasonable acco mmodation," Th e YWCA honored Atche son for creating Mary's Regional Medical Center.comlnually she said. "Employers need to have policie s in the Nevada Women's Fund , directing the battles for the rights ofpeople with AIDS in an place before they are faced with an employee mobilization of hundreds of volunteers for the effort 10 prov ide equal treatment to patients telling them they have AIDS." Community Task Force on the Homeless and with terminal illnesses. Although many state and federal agencies for being the first woman rec ipient of the Back in 1981, when mO$I people had 00( yet have included AIDS ..... ithin the ir existing Hannony Award fromthe Reno Chapter of the heardofAIDS,Larson was faced with the dev­ handicapped em ployee prorecnon policies, S.P.E.B.S.Q.S.A. astanng realities ofthe di sease while study ing most em ployers today do no! allo w special e AMP . ~N U "RV 1989 treatment for employees with AIDS , as the)' do for those with other serious illnesses, In 1987, Larson was appoin ted by Governor Bryan to a statew ide AIDS advisory task force, The seven-member team was designed to provide recommendations to the go vernor and the State Board of Health on AIDS policies. Several of the task force 's recomrnenda­ lions have since been passed by the State Board of Health. including the monitoring of brothel prostitutes for AIDS and the manda­ tory report ing of AIDS cases to the slate health department. Many more recommendations are currently in use by many organizations. how­ ever, they have not beenpassed as la....· at this time. The se include determining who should be rested and .... hat popelanoes are at risk. maintaining that all tesling performed is fol­ lo.... ed with co unseling. es tablishing a polic y requiring stale government agencies 10 have our e AIDS policies and urging that all patients tested for AIDS sign consent forms. Larson's work with A IDS covers a broad range, including the University of Xevada­ Reno AIDS comminee. the Univ ersity of Nevada School of Medicine AIDS task force, and the Nevada AIDS fou ndation. s e " I believ e in participating inmy community and feel very strongly that we all have a re­ sponsibility to return what ....-e take from our communities," said Larson.She enjoys volun­ teer work and does not limit her community involvement to AIDS alone. She is an assistant professor in pediatrics at the University ot Ne­ mo vada School of Medic ine. a com municable di­ • sease consultan t fortheWashoe County Health Departme nt and State Health Division and a member of the Washoe County School Dis­ Print Production - Campaigns trict 's Sex Education Advisory Committee. Brochures • Corporate 10 • Flyers Larson has spent a 101 of lime with AIDS Posters • l ogos • Illustration patients and finds them inspirational. "Ibey have taught me a 101about life. Many of them Broadcast/Film Production - Radio are younger than most terminally-ill patients Television . Music . Jingles andare w iIling to volunteer for the cause and Marketing Videos let people know how to Slop the spread of AIDS ," she said. Larson plans toremain active with AIDS committees. " My expertise shou ld not be limited to only patients:' she said. "I feel I can benefit the community more by .....orking with po lic ies than with the patients CI themselves. because Ican reach morepeople." GROUP Larso n received a bachelor's degree in bio­ IEIlIA logical sciences at the University of Califor­ nia. Davis. and a medical degree at the Lniver ­ CREATIVESERVICES sity of California, Irvine. She returned to Davis CENTURYPARK LASVEGAS • 70 2 73<1 0009 PEOPLE TO WAT CH IN 1989

to pursue a residency in ped iatrics and com­ Genasci. 'The school had a bad image and I pleted her education with a fe llowshi p in in­ looked forward to the challenge of turning that fectiou s diseases at the University ofCalifor­ around. We wan ted to show this was a cari ng nia, Los Angeles. school whose faculty wo uld work hard with Larson moved to Reno after medical school students and get the community involved." and open ed a consulting practice forinfectious Within three years, Hug High School would diseases, treating primarily pediatric patients. be cited by President Reagan for "Exce llence She joined the pediatrics staffat Sain t Mary 's in Education" and receive $10.000 in scholar­ in 1984 and currently serves as a consulting ships from Reader's Digest. member on the hospital 's AIDS committee In 1986. Genasci was introduced to Ron and has served as chairman of its Infection Jeffreys. senior vice president and general Con trol committee since 1986. manager at Harrah's Reno. Together they workedtodevelop Harrah's"Adopt.A .School" program. '"This is an exciting concept," says John Genasct J ohn Genasci : Genasci. "The Harrah's people get directly a principal with pri ncip les involved in programs to keep the students ... and plans for a loan on the last S32.000. HWe got those interested in school. Things like providing lights in by four o'cloc k one afternoon and dinners and a show as incentives for good played under them that night," recallsGenasci aneodance. lbey've hadsurs like Rich Little, lbere was a time when a summons to the from his unpretentiousoffice. "We were told il Tony Orlando and this year Yakov Smimoff principal's office was cause for breaking into couldn' t be done - that we would never get get involved to kick off the program." cold sweats or developing hean palpitations. funding for stadium lights. But. we did it! It's So what 's in store for Hug in 1989? Genasci Not soany longer. At least not at Reno' s Proc­ just one example of .....hat can be done through ticks them offon his fingers. "We 're Work ing ter Hug High School. When John Genasci. student. parentand community involvement." hard on improving anendance. We' ve devel­ Hug 's principal, calls for a studen t these days, Genasci's innovative approach to school oped a new computer program to decentralize it' s likely to be for a rap sess ion over a sack administration is no product of ivory tower school scheduling and bring it from the district lunch . And, if the student's name happens to intellectualism.Aftergraduating from lJI'o,'R in to Hug. We wan t a broader base of studen t­ be Juan or Julio, conversation over the tuna 1962 with a bachelor's degree in physical edu­ teacher involvement in plann ing school proj­ fish sandwich will more than likely be in cat ion, Genasci 's interests were side tracked ects. We need to bener organize our strings Spanish. "By Nevada standards, we have a for a time. He went into the insurance business and chorus programs and raise $10,000 for large Hispanic popu lation: ' says the soft spo­ first in Utah. then in Reno. He also worked band uniform s. We want addit ional emphasis ken yet enthusiastic Genasci. "It's my goal to nights in a Reno casino be fore returning for placed on a hot new concept called coopera­ learn to speak Spanish well eno ugh to be able postgraduate work rece iving masters and doc­ tive learn ing that has students working to­ to talk to the student's paren ts in their native torate degrees in educa tion at Utah State.After gether on projects and," Genasci concludes tongue . Very often for many of these parents. graduation. Genasci .....ent to work for the El running out of breath before running ou t of English is still a seco nd language. Dorado School District in Placerville ,Califor­ plans for the future ," we intend to continue our There was also a time when the chronic lack nia. Later, offered a coaching position at Car­ close relations hip with Harrah's 'Adopt-A­ of funds was cause for schools to do without son High School, he elected instead to accept School' program," certain things .•. lighting for the football field an offer from the Peace Corps training new For his outstanding efforts and accomplish­ for example. Not so at Hug any longer. Four recruits in the jungles alongthe Amazon River ments in the field of education. Genascl was years ago, whenGenascicame to the school as in Brazil. Genese! and his growing fami ly one of Nevada's select few to be presented principal, he and Hug neighbor, contnl.ctor were relocated to Zaire. Africa where he spent with a 525,000 Milken Family Foundation Grove Holcomb, who wasalready involved in three yean as an elementary school principal Award for 1988. the school's drug abuse program. put their ministering to 750 stude nts from 42 nations heads together to rome up with a solution. who spoke 26 different languages. Bob Cashell: They sought ou t alumni and parents who had "We decided to return home. So, the last some electrical knowledge or who had con­ year in Zaire, \lo e saved up enough money to powerful, sincere nections with local merchants dealing in elec ­ spend several months touring Europe. I have a nd generous trical products or who cou ld lend a hand for about 90 relatives over there ." he says. "we laborand installation. They heldvarious fund­ stayed with them until the money ran out." Find a word ... anyone word .. . that best rai sers like dances, barbec ues and old-fash­ Once back,Genasci landed a principal's job sums up Bob Cashen. Most people who know ioned hoedowns. Genasci eve n spent some at Washoe High where he worked for nine the former lieutenant governor of Nevada time in a dunk tank to he lp raise money . They years before taking the job at Hug in 1984."I would probably answe r."Powerful." needed $55,000. When they came up short, came here because I felt the school and staff After all, he has a reputation for being one of Gena sci and Holcomb personally eo-signed were outstanding but nor well promoted," says the more powerful citizens in the Silver State.

, AMP . "" NUARV1989 PEOPLE TO W ATCH IN 19 89

Yroo fCA Youth SoccerProgramandhecontrib-­ utes regularly 10Reno Little Theatre. Recently the Universityof Nevada-Reno honored Cash­ ell's 18 years ofsuppon for Wolf Pack sports by building the Robert Cashell Fie ld House. UNR 's intercollegiate sports complex. "Nevada is a great place to raise a famil y: ' said Cashell, father of four. "The arts founda­ tions and cultural groups are outstanding. The qual ity ofJife in Reno is super. Andthe educa­ tional system is exceptional. "Corny as il sounds. I just wanl lOdo some­ thing 10conmbcre to this great stale . Tbe state and its people have given me so much. I don't Bob Cashell know !hat I cou ld ever contribute enough 10 Catherine Cottins even the score ." As a business man and politician. he has made Cashell is a friendly man whose good humor a srraigluforward philosophy that expl ains her a tremendous impacton Nevadaduring his 25 and sinceri ty puts people at ease. He cred its the impressive track record as an adven ising en­ yearshere. hard-working years of his youth. Many of the trepreneur and community leade r:"Really, all But Bob Cashell's poweris merely the most intangible too ls he has used for his success you have to do is work hard and be sman about visible of his attributes. Perhaps equally de­ were acquired in his early years in Longview. life." Applying her own advice, she has at­ scriptive words of the man wou ld be style. Texas. where he grew up. He majored in busi­ tained recognition with in the business com­ sincerity and generosity. When il comes to ness at Stephen Austin University, financing munity. while maintainingactivecommitments style. his pep and verve are a rare commod ity. hiseducationby driving trucks,diggingditches 10various volunteerorganizations and causes. His straightforward sincerity is obvious. And and do ing manual labor on a TexIS ch icke n Anaiy sisofCollins' accomplishmentsyields as for generosity, there aren't many people fann . His schooling has given him the theo­ a trend in which !he attainments of each year with the ab ility 10out-give Bob CasheU. renee! knowledge that shaped his successful exceed those of the previous - 1988 has been Cashell is a big man. His business "empire" bus iness acumen. while "the ch icken fann no exception. Numerous awards from profes­ is big, his pocketbook is big and his ideas are taught me humility," Cashell exclaims. sional co lleagues attest 10 Ihe current span of big. Even his voice isbig. But it's his bigheart " It brings you down to earth. l' Ilren you Co llins ' competence with print med ia proj­ - his penchant for "helping out" - that has that.' he says, "Ever spend a da y with 30,000 ects, as well as television and rad io. given him his reputation as a giver. chickens? Her aceolades from Ihe following organ iza- Overthe last 20 years. Cashell has donated "1 think sprea ding manure on a chic ken tions are a testim ony 10 her talent; abou t $250.000 annually to vario us chari ties farm. digging ditches and mosekinds of !hings Women in Com m unications: and organizations. In a typical month. Cashell brought a hnle character out in me. Working First Place - 3O-Second Radio will recei ve requests for more lhan a quarter­ on a ranch., you learn a 101 of practical con­ FIT'SI Place:- 3O-Second Television million dollars in band-curs - pol iticians . cepe. My father used to tell me. ' Whe n you're Cenificale of Achievement (2) - 3O-Sec· coaches and civ ic leaders included - indicat­ climbing !he ladder of succes s, be kind to and Television ing just how far his reputation for generosity peopl e, because you never know if you might Cernficare of Achieveme nt - 6O-Second has reached. Local hospitals, the YMCA and be cl imbing back down sometime'." Radio YWCA,anall-leengolftoumament-they've In 1988, Bob Cashell, who is chairman of Interna nonal Asscclanon of Busin ess all rece ived favor from Cashell. the UNR Foundation Trust Committee. re­ C omm u nica tors: The criterion for being at the receiving end ceived the Distinguished Nevadan Award from First Bronze Qu ill - Annual Reports of Casheu's generosity is simply 10 be "a the Unive rsity of Nevada. II's an award that Award of Exce llence - Corporate Image worthy cause," says Cashell. BUI it' s no coin­ recognizes the impact this generous man has Award of Excellence - Informalion Bro­ cidence thai most ofthe wonhy causes Cashell made on the state of Nevada - an impact thai chure gives 10 are artistic or educalional in namre. will continue to be fe lt for many years tocome. Awardofzxceueoce - 3O-Second Televi­ And youth is often a target of his k i~s . His sion recipients are also very Nevadan. Catherine Collins: Award of Merit - Direct Mail Cashell says thaI panofhis love for Nevada Award of Merit - Corporate Package stems from the thriving arts community here. helping to shape Nevada's AwardofMerit- Community Publication II is a cultural environment he has done much creative forces While all the aforementioned projects (plus to shape. He is a past direc tor ofthe SierraAns many others) were underway , a new business Foundation in Reno and past chai rman of Ihe Catherine Collins, owner of Collin s Design enti ty was being developed, eme rging in 1988 Nevad a An Gallery. He founded Reno' s Associates and Collins Communicatio ns, has - Collins Communications. This "c ompany

AMP • y..NU"' ItY 1gll'J 9 PEOPLE T O W AT CH I N 1 9 89

withina company. wasdesignedto accommo­ ton who have encouraged her to strive for her dale television prod uction projects. as .....ell as goals. whether such people appeared as the public relations ventures:' said Collins. teachers "who were always on the sideline," or The premiere effort was Five Alarm with the bosses and colleagues who boosted her Pepper Dads. an innovative television pro­ along the way. gram targeted to the rapidly-growingseniors' He r- husband. Michae l, is a special source of community of Southern Nevada. Widely ac­ strength. and it was with him that she left the knowledged as a pioneering endeavor because Midwest "for all the same reasons that people of format (talk segments " Tapped around Sid come to Las Vegas: weather, opportunity and Caesar' s classic comedy sketc hes) and corpo­ the adventure of the unknown." They have not rate sponsorship (in addition 10paid ad spots ), been disappointed. lhe show has enjoyed favorable anention from Coll ins was working hard long before she vin ually all segments of lhe Soulhem Nevada gOlher first "rear job at the age of fourteen, community rnvotved with seniors' Issues. waiting tables in the Omaha Train Stat ion, programs and products. And she's still working just as hard. As for As a community activist, Collin s mainta ins getting sman abo ut life, Collins would be the ties with various organizations: the Greater first to admit that she 's "s marter". hUI still has The "certain style" translates 10 on ly four Las Vegas Adven ising Federation (serving lots to learn, chief corporate officers and backgrounds that her second te rm as president). the Las Vegas She ' s a woman of various ident ities. To the don 't necessarily mean gaming.Tumerisquick Chamber of Commerce . Women in Commu­ Federa l Bureau of Indian Affairs. she is only to point out . however, that the small manage­ nications. Clark County Community College , number 346-62011956 . ,. to her man y friends ment team wouldn't be possible without ex­ Soroptimist International of Creative Las and family. she 's just Cathy .•. but to the ce llent people on the secondary leve ls. Vegans. Acti ve Corp of Exec utives and Op­ business and civic community, she is Cather­ "We don't necessarily look for people 10 portunity Village. Years of involvement with ine Collins. owner of Collins Design Associ­ have a gaming industry background either," these groups has yielded voluminous records ates and Collins Communications, a positive Tumer says. "hen Steve (W)nn) didn 't have ofcommittee memberships. appointments and force shaping the future of Southern Xevada, much of a gam ing history , lr's more imponant elected position s. Given this profile of contri­ thai they be bright. fastlearners. In fact, some butionto the community, plus her professional gaming backgrounds we ju st have 10 undo : ' achievements, it is not surprising that Collins Clyde Turner: Not surprisingly, Tumerhimselfcomesfrom recently was recognized as a member of the orchestra ting the a financial background hut with gaming over­ Distinguished Women of Southern Nevada, tones. He had his own CPA firm with silt of­ Collins' observationsaboutvworking hard" Golden Nugget empire fices throughout the stale, and served on the and "being smartabout life" can be traced back GamingCommission in the early 19705. where to her own childhood . Her ear liest reccllec­ As executive vice pres ident and chief finan­ he was instrumental in re-writing the account­ tions areoflifeon the Yankton Siou x Reserva­ cial officer. Cylde Tumer'sday l)'PicaUy begins ing laws for casino operations in Sevada. tion in South Dakota. where she was born and at five in the moming. By six. when the stock When he can esc ape. it' s usually to the ten­ raised. As the tenth of fourteen children. she market open s back East, be' s dealing with the nis coons or his condominium hideaway in became a quick s tu d~' for organizing people hal f billion doll ars or so of Golden S uggel lake Tahoe. where hecanjust kick back with for action. a characteristic of her current work holdings that mu st be invested and transacted his fami ly and watch the Canadian geese. A sryle. Interpreting the English language and each morning. long-lime Las Vegan. Turner and his wife non- Indian ways to her grandparents honed The rest of the day means going about the have three children: a daughter. who is an ac­ herkeen skills of observation and communica­ business of being responsible for all internal complished para legalin Los Angeles: an older tion, even while she was a you ng ch ild, Al­ financ ial affairs , tax reponing and whatever son. who is pursuing a career as a musician; though there are many diffic ult memories of else pops up in what Turner calls a 25 · hou r· a ~ and another younger-son working and going to impoverished living.CoUinstreasures the softer day job with the Golden Nugget Corp . Still. schoo l in Reno, vignenesof her heritage. such as watchin g her ii's somewhat less hectic than when the Atlan­ Turner ' s current priori ty is. of co urse. the grandfather break horsesthe "o ld Ind ian way". tic City property was still in operation. During new S565-million Golden Nugget on the Strip. As a child. left to her own creative devices, that period . T urner often spent the beuer part which will have 3.000 rooms and a pool area Collins filled houn designing. cutt ing. past­ of each week on the East Coast. - among other innovations - lhal Tume r ing, ....Tiling and drawing in her original scrap­ "I guess the diversity of my job is the best says "will aImosl be a Wet 'n Wild in itself. books ... none of which have survived, Family pan of it." SlI)'S Turner. who has bee n with the Less in terms of the rides and more in terms of subscriptions tolift andNatiollalGeographic GSC for over ten years. "You never get bored. a total environment - a place to be," fueled her imagination and supplemented the We haveacenainmanagement st)'lehere , \\le Which is pretty much Turner's philosophy artwork for these earliest product ions, showed, for example. that it is possible to take abou t Southern Nevada and his job with the Collins generously cred its the various men - a downtown hotel and give it a strip hairdo," Golden Nugget Corporation, •

10 ,,-"P . j,ANUARY1989 Nevada Husiness Journal

BANK ING & FINANCE

Deregulating Nevada's Banks

eregulation has come to have as many the freedom to develop products that better meanings as there are customers af­ meet the need s ofcustomers. But on the other D fecte d by it. To some airline custom­ hand . it force s banks to commit more re­ ers.deregulation means the fare wars that save sources than ever to selling prices. controlling them more than 56 billion annually: to others, co sts and managing operations. deregulation means late fligh ts and a shrinking "It's an evolutionary process on ly the fittest number of routes. will survive," Snyder says. He estim ates that Telephone users have seen long-distance over the next five years there .....i11 be one- third rates drop subs tannally since the d ismanlling fewer banks than there are today. of the Bell Telephone Sys tem in 1984 . while The second phaseo f de regulation related to rates for local service have jumped. .~nd al­ Donald D. Snyder, FIB chairman and CEO . interstate bank ing. Prior to the early 1980s. (hough most people are probably unaware of menrs. and even the scope and content of bank banks were not allowed to operate across slate it. deregulation of the truckmg induslf)' has adve rtisi ng messa ges have come under gov­ lines. However. in the absence of federal de­ saved them a bundle by boosting efficiency ernment scrutiny at one time or another. regulation regarding interstate banking. state and eliminating a hodgepodge of interstate Most of the current bank regulation s were legislatures took it upon themse lves to loosen haul ing rules. developed immediately after the Great De­ restrictions. Then there 's banking. For most bank cu s­ pression and the collapse of thousands ofcom­ In fact. while no federal laws have been torners . financial deregulatio n has made the mercial banks and non-ban k thrift institutions. changed regarding interstate banking. .w system more responsive and flexible. lndi­ The idea was to substitute regulation for states have taken it upon themselves to rela x vidual s get more serv ices. and depositors get competition. achieving a balance that would their bank ing laws. better rates. provide the public with efficient. low-cost Nevada has a tiered interstate banking law On the otherhand. customers have watched financialservices. while preserving the liquid­ which. beg inning on July I. 1985, ca lled for the number of bank failures rise 10 alarming hy and integ rity of the banking system. deregulation of the state's banking industry in levels. as the high cost of attracting deposits Thi s worked fine for awhile. Then. during phases. Xevada's first tier was a rec iprocal has forced banks to seek higher-paying. and the high- inflation economy of the 19705. sav­ agreement with 12 other western states. ex­ thus riskier. loan ventures. ers required higher rates of interes t than banks cepting California. Tbe la.... allo.....ed banks xtosr would agree that deregulation has by law were allowed 10 pay. As a result. fromlhe 12 states the: righrtoacquire or merge been a mixed bag so far. Some of the changes hundreds of millions of dollars were flowing with existing Nevada financial institutions. prov ided both consumers andthe deregulated ourot banks andinto the Money ~Iarke t Funds Zion s Bank of Utah purchased Xevada indu stries with new options and advantag es. created by brokerag e houses. State Bank under the first tier of Xevada 's new while other changes have brought about de­ It was large ly on the basis of this shift in law. Valle y Bank merged with Security Bank clining level s of service and increased COSts. consumer savings that the first phase of de ­ to fonn the state's second-largest bank . And One thing is clear. however: no matter what regulation was approved by Congress and additional legislation allow ed Citibank to the industry. deregulation has brought change. banks were finally allowed to offer competing purchase failin g All-State Thri ft. And. although the magni tude and pace of interest rates. The new law proved a boon for The second tier of the Nevada law begin s de regulation will vary from indus try to indus­ savers. since it touched off interest-rate wars January I. 1989. when banks from any state trythere will continue to be change. among financial institutions competing for can buy or merge with Nevada finan cial insti­ For decades in the United State s. commer­ customer deposits. tutions. Securit y Pacific Bank in California cial banking ha s been one of the most heav ily "Deregulation means opportunity, and will complete its announced purchase of regulated of all industries. The price and opportunity by de finition entails a ce rtain x evada National Bank unde r this second tier. makeup of many banking services. the loca­ amount of risk." says Donald D. Snyder. chair­ Finally, on July 1. 1990. the third tier will tion ofbranch offices. the internal growth and man and chief e xecutive office r of First Inter­ allow for full interstate banking. where in any external expansion of banking organizations. stale Bank of Xevada, bank outside Xevada win be able to beg in d~ the quantity and quality of loans and invest- " Onthe one hand . deregulation gives banks novo banking in the state...... ,. . JA ~l!" R Y 19M II -

Tbe effects and the success of interstate thoseorganizations are insurance companies fore, more convenience and lower prices ," banking have varied from Slate to state. Ho w­ or brokerage houses or mul ti-dimensi onal Snyder says. "That was the original idea be­ ever, says Snyder, " In general, the price of companies like Sears and K-Mart," Snyder hind deregulanon, and that' s what compe­ bank services has become much more com­ says. "We're lookin g for the expandedpowers nnce's all about." petiti ve, and prices have rome 00\\11 in favor that will enabl e us to offer the sameprod ucts Althoughderegulation has becomea fixrere of the consumer." and 10compete on a much broader basis." in con...ersanonsregarding the state's banking At the same lime, commercial banks' tradi­ Those expandedpowers include the ability industry, is it the driv ing force behind deci ­ tional business has been progressively slip­ to offer the same products as the so-called sions made by the senior management team s ping away. From 1915 10 1981,banks' share of " non-bank" bank s, particularly in the area of of Nevada 's financial institutions? financ ial assetshas dropped from 38 percent to insurance and real estate: the elimination of " It is nor the only driving force," Snyde r about 32 percent. During that same: period, the anificialbarrierssuch as state lines - to better believes. "But clearly deregulation is a pan of share of financ ial assets held by insurance meet customer needs; the ability to issue co r­ our future and the dec isions we are mak ing to companies, pension funds. security brokers porate debt and equities as iscurrently done by shape our success in Nevada. and finance companies has risen from 39 per­ non-bank competitors; and, among others. the "This state is growing at a phenomenal cen t 10 more than 46 percent. ability to offer commercial paper. pace. We need the ability 10 offer the type s of The business that commercial banks once Under current regulations, for example, sen-ices and products that meet the needs of cal led their own has shifted to companies deposits cannot be made to a customer's ac­ our current customers andallow us to attract which operate outside the regulations restrict­ count from one Slate to another. "!I's an anifi­ new ones,~ he: adds. ing banks - companies with such non-bank cial restraint on our ability to do business. "The successful financial insutunonso r the names as Sears. K-Man. Merrill Lynch and particularly with a large interstate banking 19905 - and beyond - will be those which Metropolitan Life. Even foreign banks oflen network such as First Interstate's," Snyder meet the challenges of an increasi ngly com­ ha...e mote freedomreoperate than U.S.banks. adds. ~ E1 i mina tion of these restraints has to petitive marketplace creat ively and aggres­ Bankers. und erstandably, seek funher take place to make the banking system more sively,"Snyder says. "While funhc:rderegula­ change in the current regulations. ~We simply efficien t - and more competitive." tion will continue to even the competition, no want a leve l playing field to compete fairly wbat's in it for the customer? ~A wider bank that wants to survive in the future can with other fmancial organizations. whether range of prod ucts and sen-ices than ever be- afford to wait." •

OUR STRENGTH IS IN OUR PEOPLE. Triathlete Eva Vasquez bikes over 9,180 miles. runs over 2,000 miles and swims approxi mately 650 miles a year in preparation for the lronman World Championship. Strength and dedication also playa part in Eva's work at McCarthy, She and over 2,000 other McCarthy employees com prise the strength behind McCarthy's conti nued success based on the discipline that a job well done means more than just "doing their job." Call McCarthy today and get in touch with people who want to go the distance, and then some. for you.

Helping to Build the West f'fCAI\THY

120 NOtth44 lh Weel . Phoe

12 AMP . LA r-U"'RV1969

Nevad a Business Journal SPEC IAL SUPPLEMENT

Del Webb's Sun City Summerlin

Del Webb & Howar d Hughes: A-4 the Tradition Continues The rela tionshipoftheseentrepre­ neurial giants endures through their respective corporat ions.

Southwest Gas: Ce mrnlued to A-8 Excenence First American Title Despite the magnitude of the proj­ eel, Southwest Gas is detenn ined to provide the highest quality ser­ Company of Nevada vices to its customers.

First American's tille services have been precision-engineered by protessionals 10 FIB and Valle" Enter into Their exactly fit the needs 01other profesSionals engaged in real estate transaction s. You A-l0 Largest J oint v enture can leel confident at First American ... the name that stands lor an the experienced Two of x evada's mOSI powerful judgement, stability and dependa bility accumulated since the firm 's founding in 1889. financial institutions combine forces to provide fmancing for Sun City Summerlin.

Celebrating our The Sun Cit,. Summer lin Team A-14 -3 Fa mi ly Reuni on 100 Year Anniversary Del Webb's expertise and that of an already assembled creative and team made the creation process of proud to be pan of Sun CitySummerlin akintoa fam­ ily reunion. Del Webb's Sun City Summerlin Contribuli ng to the Del Webb A-18 Sun Cit,· SuccessSlaTY Some of the companies instru­ A subsidiary ofFirst American Financial Corporation mental to the success of this en­ at these locations: deavor have been profiled here. A·I8 American Asphalt • 5300 W. Sahara '• 1800 E. Desen Inn Rd. • A·I8 Branch Design A· 18 First American Tille · 250 1 N. Green Valley Pkwy. • A· 18 Michael Masonry A· 19 Sanders Construction ..\. ·20 Surveyors. Inc. A· 20 Turf Equipment Supply 731-4131 ,\ · 20 Vosburg Equipment .-\. ·20 Western Technologies

From Planning to Reahty A-22 The combination of w ebb' sexpe­ rience as a developer coupled with G.c. Wallace's knowledge of lo­ cal requirements has resulted in a "win-win" situation,

4710 EAST CARTIER AVENUE Sun Cit,. Summer lin special supplement LAS VEGAS , NEVADA 89115 coordinated b )' Chuck Dand,- and Steve (702) 644-1016 Larson.

"Congratulations to Del Webb's O~,~ CO""" : /HI E. W'rlIb C"""".mirid Prrsi

i'lc"ada lIusiness .Journal SUN CITY SUMMERLIN

Del E. Webb & Howard Hughes

THE TRADITION CONTINUES

by Vicki Bertolino

PHOTOSBYI,IICHAEl E. MEAGHER

he Del Webb- Howard Hughes rela­ ary 1972 and was initial ly involved in most of ute. their financial support shou ld also be rec­ tions hip reaches deep into Ame r­ the commercial development - shopping ognized. It is projectedthat after five yearsSun T ica's twentieth-century past, back centers , otfice buildings or recreation facili­ City Summerlin res idents will have made nearly five decades. beforeeither of thesetwo ties_It wasn't until the late 1970s that Hanne­ SI6.,S million in retail purchases, have bank entrepreneurial giants ventured into gaming man became involved in residential construe­ deposits of S3,S million and incomes of $4 1 andrecreation in Nevada. It dips into the core con, working on the original Sun City activ e­ million. Hardly a drop in the bucket, of the Great Depression when Webb built adult community in Phoenix, Arizona. and its Building a community such as Sun City many ofHughcs' buildings andaircraft facili­ sister development, Sun City West. located Summerlin requires a tremendous initial in­ ties in Cal ifornia. two milesaway. ln 1987, Hanneman accepted vestme nt by the developer. In fact. Del Webb Webb considered Hughes a close. personal the chal lenge of sculpting a simil ar, but small­ committed SJO million to the project in the friend.The y were both heavi ly involved in the er, adult community in Las Vegas . first year alone. Few developers are will ing to gaming industry when Hughes stormed las "We made a corporate dec ision in 1984 to take such a risk. Vegas in the '70s. Webb already owned the expand our community operations acros s the Because of this tremendous investment, Del Sahara Hotel and Casino on the famed Las Southwest. We are taking the Sun City co n­ Webb spent over two yearspreparing the Sun Vegas Strip. the Mint Hotel and Casino in cepr to the peopl e through these smaller proj­ City Summerlin market research - defining downtown Las Vegas and facilities in the ects ," said Hanneman . potential buyers and creating a prod uct to meet Reno and lake Tahoe areas when Hughes "Sun C ity Sum merlin 's first phase will be their needs. began buying up the Desert Inn, Frontier, 1,050 acres and the second, 843 . Th is com­ Wh ile Sun City Sum merlin will o ffer its Castaways. Landmark and other hotel-casino pares to 8,900 acres in Sun C ity and 5,700 in own outstandi ng recreational amenities, those properties on the Las Vegas Strip. plus thou­ Sun City West. "Though sma ller, Sun C ity will be complemented by the vast amount of sands of acres of land throughout Southern Summerlin embodies Del Webb's 28 years of things to sec: and do arou nd Las Vegas and Nevada. experience in the industry and the quality we beyond. There are many opponunities for The site of Del Webb 's newest active-adult are known for," Hanneman insists. entertainmen t and recreation, whether it' s community , SunC ity Summerlin, is located in "We're most proud of the quality we build gamingor somethingelse. " I don't think you 'd the larger master-planned community - Cut­ into our active adult communities. We' re also ever run OUI of places to eat and socialize in

rentl y underdevelopment by Howard Hughes very proud of our residents. They contribute a Las Vegas, M Hanneman l1OIes. - Properties - cal led Sununerlin. This 25,000­ great deal to the community," Las Vegas offers some thing that the Del acre parcel , located in the rapidly-expanding lbe Sun Cities Lions Cl ubs, for e xam ple, Webb Corporation always looks for when nonhwest section of Las Vegas, was named in raise a quaner ofa million do llars annually for developing their active adult communities. mem ory of Howard Hughes' great grand , charitable purposes, including fundi ng a sum­ Las Veg as is a hub for a lot of very attractive mcxher, whose ma iden name was Summerlin. mer camp for handicapped children. lbc Sun sights which are just a short drive down the MI think it is interesting and ironic that after Cities volunteer Sheriffs Pos se patrols the free way, w hether it's Southern Californ ia all these years we get bac k together agai n, streets and offers a vaca tion- watch program with attractions like Disneyland, or Southern especiaUy with both the Howard Hughes or­ for the residents. This action has garne red the Utah with its breathtaking landscapes. or ganization and Del Webb Corporation divest­ Sun C ities the d istinction o f having one of the Northern Arizona and the Grand Canyon. ing themselves o f their gam ing and recrea­ lowest crime rates per capita in the county. It a lso offers a wide variety of recreational tional properties and concen trating their ef­ "I think the bottom line is that the type of activities such as fishing, skiing and hiking. forts in real estate development," observed person we expect Sun City Summerlin [0 at­ And Las Vegas is an e xce llent hub for travel. leRoy Hanneman, who is a Del Webb Com­ tract will be a positive addi tion to the Las with McCamm International Airpon, Am­ munities senior vice president and genera l Vegas metropolitan area ," said Hanneman. track, and Greyhound Bus Service connecting manager o f Sun City Summerlin. In addition to the community support that travelers with destinations limited only by Hanneman started with Del Webb in Janu- Sun City Summerlin res idents usually contrib- their imagination. THE TRADITION CONTINUES

"Thar's very important 10 our multi-purpose rooms available in customers. said Hanneman. "Our this building where a number of ac­ peopledemand a high level of com­ tiviries can occur simultaneously mercia! services. They have sophis­ fro m pho togra phy, sewing and ticated financial and medical needs; weaving, to specialized crafts like they ..... ant me shopping, the airports. co pper enameling. the professional services, and we " Bas ically, our reside nts dete r­ need a chy of approximately the size mine what the recreational faci lities of Las Vegas with these suppon will be. We even have an anroom for networks forour SunCityresidents." aspiring artists ," Hanneman said. Hannemanemphasized thatatSun The Sporn Building will house a City tbey try to create the most con­ health spa ~ with exercise room ducive aunosphere poss ible. prov ide containing weights and all lhe ma­ the best recreat ional facilities, q ual­ chines found in any health c1ub- to ity constructed homes. and give their a racquetball court, jazzercise or residents a very solid real estate pur­ aerobic dance area and game room chase, something which the y can be with billiard tables . The outdoor proud of. facilities includc a swimm ing-jher­ "There is a tremendou s sense of apy pool. quarter-mile jogging or prid e in these people who come from walking track. six tennis courts, four / all over the country. all over the shuffleboard courts . two boc ci world. The common thread seems to courts. par-course exercise circuit be their pride in co untry, fam ily life From Irft 10'iglrl: Kim Ban~i'lrr . """wgu oft'OIUrr ucti Oll apr,a/ions/orlNl lI/rbb; and miniature gol f co urse for the Rogu KtId:. ,-Ia prt . id' n' and ...nior c"'f'O""" acCOUnl <1fiar for FIB: altd ea,,' and theirdesire for an active lifestyle Wlli_ n. "..;.,..,,/ ,;uprnilklll, 'till t lt,1I' iNpart_1II1M ~'"lIry 8"".1; . e njoyme nt of grandparents and in lhcir churc-h and community. Of grand children. !he 6.000-plus name s on ou r lead lisr right de velopment. giving them up to 10.000 total "Our Sports Center has changed a 101 re­ no""-. which was developed withou t adverus­ reside nts in both phases. cendy," notes Hanneman. "Today's retiree is ing. we have people from every state in the -o-e of the major things thar the Webb much more physically acnve, demand ing: sig­ l 'nion and from at I~ t eight foreign coun­ Corporation does d ifferently from mOSI other nificantly more sophisticated forms of facili­ ~ . This basically verifies the research developers is tha t we build the community ties than they did when we first started devet­ we 've done, which mdicated there was a sig­ fac ilities up front. AI Sun CilYSummerlin. we op ing activ e-ad ult communities back in 1960. nificant pent-up demand in las Vegas for our have a completed golf course read)' for play Specialists at the I WO major hospitals loca ted type of active adull community. The word of right now. Tbe course was designed by Sen ior at Sun City and Sun C ity West in Arizona gave mouth has just been tremendous," Hanne man PGA Pro Billy Casper andgolf course archi­ us a great deal of information as 10 specific pointed OUL tect Greg Nash. The par-72 course offers mul­ athlelic programs and exercise equipment that 'The leading states for people wait ing 10 buy tiplc tee placem ent s to chauenge even the mo st can bedesigned and utilized for active adults. a home in Sun City Summerlin arc Nevada , skilled golfer. while provid ing enjoyment for You need to keep these activities health y and California. Arizona. Wiscon sin, New York beginners . as well . Very few other developers within certain requirements. which we have and Florida. The fore ign countries include are willing to risk that much capital up front." accomplished in our Sports Center." England. Ireland, France. Italy, G ermany , 110000 Hanneman said. Very nute attention was paid to diet and Scandinavian countries and Canada. Henne­ The three -bu ild ing recreation complex and exercise in me early pan ofthis cen tury . Since man believes this is direc tly related to the fact go lf course comprise the town square - the me 1%Os. individu als have become more lIwmaYof!he news releases and intormauon hean of me community - where residents aware o f their body and health needs. which is about Sun Cit:'-Summe rlin has co me locally , gather for social, recreational and political representative of why people live longer today Bcausc- of the heaV)' tourism influx in las purpose s. It func tions like our old-fas hioned. andwhy SOmillionAmericans are now age 50 y~Ibis jocal publicily has spread around tum-of-the-century. small-town America or olde r. if is estimatedthat by rexr year. 1990, lib:: . c:rid. VisilOn read the local pape rs and where the focal point of town activ ities, lhe the 5O-plus segment will account for nearly IeB thrir friends back home, power structure, and all of the community's one- foonh of !he American popul ation. ""This lead list is unprecedented for a co m­ affairs were conducted in the cemer of town. "Forecasts say people will continue to live mumlY stan-up. With these early leads. we'H The Social Hall will offer evel)1hing from longer.hcalthicr lives. ,,-hichlies 10 OUTen/ire probably have a 12-1.5year build-out instead e avelog presentations in me large aud itorium conc ept . We .....ant people to be more active, of the longer one we anticipated. In fact. 72 10 cooking demonstrations and card tourna­ social and involved," smiles Hanneman. home s were sold in the first fwo days - 150 in ments in theirsmaller meeting and club room s. "I think we have also very d early ident ified me first wee k of pre-sales. Th is build ing will also house the recreeuon what ourcustomers' needs are: theirdesire for Sun City Summerlin is being built in two center admi nistrat ive offices. quality; their desire for a community that will phases. with a slx- to len-year build-outantici­ '·We hire a staff that will run the faci lities, appreciate in value and be a good inves tment ; pared for the first phase. Phase one is on 1.050 maintaini ng il in a professional manner, who a community that is going to cater 10 them and acres which will include 3. 100 homes, a can organize the various clubs. activities and provide the services they require. We' ve not .46,OOO- square-fool recreation ce nter. IS-hole politi cal structure that is within the commu. attempted to gel into any areas mat we don 'I cham pionship golf course and ~ acres of mtyitself," explained Hanneman. know, andou r customers sec thai." commercial properties. 'They have an option The Arts and Crafts Village features every­ Hanneman explained thai many of their on anolhcr 842 acres which wou ld yield an­ thing from lapidary and silvercraft 10 wood ­ bome bcyers at Sun City and Sun City West in other 2AOO homes and addilional commercial working and needlework. There are many Arizona have purchased four . five and even THE TRADITIO NCONTINU ES

six different homes over the years. "They "Our duplex homes are not what you would " Mostofourresidents eventually sell one of probably live an even more active lifestyle normally perceive as a duplex home. They are their cars because they realize they need onl y here now than from where they came.and as not necessarily the same floor plans, but they one car plus the golf can. The City of Las their lifestyle changes. they change products do have only one attached common wall and Vegas has given our residents permission to - they get another new Sun Cit y home." range in size from 1,100 to 1,750 square fee t," use gol f carts on Sun City Summerlin public Oftentimes. being somewhat conservative explained Hanneman. who added. " I think a stree ts:' Hanneman said . These cart s are used by nature. they buy a sma ller. less expensive term that better describes these homes is not only for golf, but to go to the recre ation home the first time . companion homes." center and groc ery store, as well. "Once they've determined that they' ve The garden villas are buill in a three . four, "Our residents are an average of62.3 years made a comfonable investment. that they like five or six unit building and range from l ,()(X) of age. retired. but holding pan-time jobs and the lifestyle. they fee l more secure in making to 1.350 square feet. "We term these front­ some even wor k in our facilities. alittlelargerinvestment andbuyahomeonthe loaded townhomes as opposed to alley-access Keeping in mind our adult market. we do golfcourse or nearthe recreationcenter, or a because all ofthe ent rances are in front. on the sub tle things to mak e it more comfortable for home that more directly translates to thei r new same side. In this case , if you are on the end. our residents. like raising the outle ts a little so style of living. which might be more outdoor you have onl y one anached.cornmon wall, but people don't have to bend so far to plug in a activit ies than they were used 10 in the Mid ­ if you are in the middle. you would have two lamp or appliance; raising the van ity tops in wester East.Then.laterinlife,theymaymove attached common wall s." the bathroom a couple of inches so they don 't down into one of our man y smaller homes. Both the duplex and villas feature two bed­ have to stoop over the sink quite so far, install­ villas or duplexe s." rooms and two baths. plus covered patios for ing grab bars in the bath tub. and making the Sun City Su mmerlin features seve n single outside living space. The villas include an at­ doorways and hallway s wider, or adapt any famil y floor plans ranging in size from 1,000 tached sing le-car garage with space for a golf home for handicapped persons." square feet to 2.800 square feet. All of the cart; all of the other units have a double car In both the duplex -companion homes and homes have two bedrooms. two bath s and garage with golf cart space. This is an addi ­ garden villas, the exte rior is completely land­ attached garage. The two larger models can be tional area at the front of the garage that has a scaped - a feature which is included in the converted to three-bedroom home s because ramp on a little platform and a separa te space init ial purchase price. They are then main­ they have an added den. Sun City Summerlin is allo wed for the golf can. An outlet is also tain ed in the typical condominium association also features a duplex home and garden villa. provided for charging the battery. style with an association fee to take care ofthe

outh""t Gos is onxioustohelp ytlUmoke the most effideflt use of Ameri< o~ besi Senergy resource-natu relgos. Abu ndant gas seppi" andodvo rxed tedJnoIogy make natural gos on "cellent volue in theSouthwest ' ASooth""t Gos co ns u ~o n t willwoI< with you todeveiop on eff,ient energy systemfor Iefrigerntioo, heotin~ or whorewr your needs might be. Giw usacoil-we'll make SUIe you get professional en e ~y assistance. For information about our serv'

A-G AMP . VoNUA RY 1989 TIlE TRAD ITION CONTINUES

enenor maintenance. In addition. there is a They know we will accept nothi ng else: ' said Sun City homes in Arizona are nearly 30 yea rs recreation cen ter fee of 5250 a year for each Hanneman. old now , and are still in top condino n,v Hanne­ rnidcnce in Sun Cuy Summer lin.Th is entitles " We have criteria that we use to evaluate man said. them 10 the recreation facilities and provides their work. That criteria addresses eve ry as­ When he was firs t offe red the position of (orcommon areamaintenance forthe commu­ pect of the homecooseucnon and gives sta n­ Gene ral Manager of Sun City Summerlin a nity as a whole. dards thai tarexceedwha t any buildingdepart­ year ago, the Del Webb Corporation wid him AU of the unus are for sale with prices ment would want. wha t any build ing code they wanted him in las Vegas for only IWO or ranging from the high S70s 10 5180.000. would demand. or whar any mortgage com­ three years. justlong enough 10 get Sun City "Thesewill besecondorvacanonhomes for pany wou ld wan t," insists Hannema n. Summerlin started. So Hanneman moved his some-of our reside nts, but we expect most will Del Webb has its own qualit y-assuranc e wife Karen, son Ryan, ten, and daughter Lind­ call Sun City Summerlin 'borne'... said Han­ departm ent which deals directly with each say. e ight, to this city where the Del Webb neman. He admits. "Though quality has al­ resident. Each hom ebuyer is assigned a qual . Corporation 's roots go back a long, long time. ways been built into every Sun City home . uy-assurance inspector who meets with the Today, Hanneman admits. " I enjoy work­ never in our history have we taken it as seri­ buyer before the house is built and ove rsees the ing with sen iors because they live each day 10 ously as we do today. We have a specific entire construction. Thei r inspections are the fullest and have fun. It's grea t being with mark et nich e. We recognize from years of do­ above and beyond those made by the county. them. andI think Las Vegas is a fan tastic place ing this business that our customers have Customer saustacuon is the key. to live andraise a famil y. Right now . I'd like o.... ned very impressive homes in the past. This is a continuous proce ss. according to to stay on long er than those rv..o or three years: They've now reached a point in their lives Hanneman who said that after coesencuon. may be 1"11 even retire at Sun City Summerlin .... hen me)' no longer have the need for a very the home is turned over to their Warranty someday!" large home. but they expec t quality. Assu ranc e Department, which has full records The Del Webb-Howard Hughes relation­ "ln 1960.SunCitywas the only active-ad ult o f everything that was noted in the building ship has come full circle, havingcovered thou­ commumry in the wor ld. Now there are 2AOO. process. They admin iste r the warranty period sands of miles and billions of dollars. with but Del Webb still controls the biggesl piece of for a full year, but if in five years something much of it spent in Las Vegas. the pie. w e do that byofferingqua lity commu­ major goes wrong which should never have Though Webb and Hughes didn 't live to see runes. Our subcontractors are inti mately fa­ gone wrong. then Del Webb comes in and the birth of Summerlin, their history of excel­ mili ar with the quality levels we demand. makes the necessary repairs ,"Our orig inal lence continues on. •

CAROLE EICHEN INTERIORS. •••

•

THE SHAPE OF THINGS TO COME

p.o. BOX15027 SANTA ANA, CA 92705 (714) 250-7050

MU' • IA" UARV 19a9 A-7 Nevada Business Journal SUN CITY SUMMERLI N

First Interstate and Valley Bank Enter into Their Largest Cooperative Venture

by Vicki M . Bertolino

artici parion between financial institu­ which are pan of the three- building recrea­ tions on multi -million dollar projects tional center cons isting of the social hall in P is quite common, but usually, it hap­ which the administrative offices are located, pens between interstate banks. On the Del the arts and crafts village and sports complex. Webb Commu niries. Inc.. project kno....'n as "From our standpoint. the success of this Sun City Summerlin, however, both First In­ Rogu Kad;. \ 'ic~ pr~Sld~nt alll!sm iorcorporau account project is determine d in large part by Del officu lOT lh ~ COTporIJ't '~al ,' TaU did,ion ofFlB. terstare Bank and Valley Bank ofNevada felt Webb's major ame nity package which com­ thai financing on this project should be kept prised the first facilities to be built at Sun City within the state ofNevada. By combining their "We went to see the Summerlin:' Kadz observed. This pac kage in­ resources. they fell they co uld accomplish that cludes the golfcourse, recreat ion cen ter, club objective and better serve Del Webb. Del Webb people and house and pro shop with a small restaurant to So they entered into what has become the accommodate 60 or 70 gues ts. largest joint financial venture these two banks suggested that it The go lfco urse will be run by the Del Webb have ever shared. Corpora tion at first and will be ope n to the Del Webb Communities. Inc.. is an organi­ would benefit public to help reduce the cost of development zationthat "knows whatthey are doing. They As more homes are purchased, the golf course are the premier builder in the area of pla nned Southern Nevada if will be turned over to the Sun City Summerlin active-retirement com munities. We're happy Homeowner' s Assoc iation for the priva te use to be involved with them, " announced Gary the state's two largest of the residents and their guests. Whitman who is vice president of the Real Eventually. all of the facilities at Sun City Estate Division of Valley Bank of Nevada. banks combined Summerlin will be turned over to this gove rn­ "In December of 1987, we began working ing body. "Del Webb turns over eac h of its on a proposed financial package for Sun City their resources adult retirement communities to the local Summerlin based on the proforma and feasi­ governing board for the goad-faith sum of SI. bility study Del Webb officials presented us. and handled the That' s the sense of community that we are but we soon found out that Valley Bank had financing togethel:" creating at all of our Sun City commu nities, also expressed an interest in this project:' from Florida and Cali fornia to Arizona and explained Roger Kadz, vice president of the here in Nevada:' reponed LeRoy C. Hanne­ Corpo rate Real Estate Division of First Inter­ arrangement for single-family homes in Ne­ man, senior vice pres ident for Del Webb state Bank. vada that Valley and First Interstate Banks are Communitiesand general managerat Sun City "As a result of the financing request on this aware of. Summerlin. projec t we knew that we would need fiscal Three diffe rent financial packages were He continued, "There is a governing board support and Valley Bank officials knew they arranged totalling 532.8 million. for SunCity Summerlin,justli ke ateach of our would need fiscal support as well. So we went First. there is the 516 million financial other Sun City com munities. Initially. this to see the Del Webb people last January and agreement for the development of the major board will be a combination of Del Webb and suggested that it would be to their benefit and ameni ty package consisting of an 18-hole Sun City Summerlin people, Eventually, Del the benefit of Southern Nevada if the state's championship golf course. recreatio n center Webb will ease out of the adm inistrative pic­ two largest banks combi ned their resources and main street structures. The second ar­ lure and the Sun City Summerlin govern ing and handled the financing togethe r. They rangement is a 516 million revolving credit body will run all facilities. Obvious ly, the agreed; and Gary and I have been involved in package for the creationofthe subdiv ision lots facilities were built for the population of the this project from the beginning," Kadz added. and the housing units themselves which con­ co mmunity. soln less than ten years. we' lltum Although they are not providi ng \00 per­ sist of seven different single-family homes. it all over to them because we do believe that cent of the total financi ng required tocomp lete duple xes and townhomes. Third is the the facilit ies belong to the resident s and not to this project, it is probably the largest financing 5800.000 Del Webb admi nistrative facilities the Del Webb Corporation:' -

Valley and First Interstate Bank officials Sun City Summerlin home.Th is will influence reported thai the proj ected pop ulation growth related serv ice businesses which wili in tum figures for Sun City Summe rlin over the next greatly assist in the growth and de velo pme nt five to ten years was another major considera­ of the northwest pan of our city." tion in their wanting 10 finance this package. Kadz added that as a corporate real estate Those figures indicate that from 5.000 to banker. he sees the growth of retirees into 6,000residentswill fiJI the first 3, I00 homes to Southern Nevada as having a " very positive be built duri ng the first phase of construction impact on our future because these are sen iors on a 1.040-acre parcel. Another 5,000 resi­ who were previous home owners and not ren­ dents are expected 10 fill the 2,500 homes ters; there fore . they have buill their asset base scheduled for construction on the remaining and are looking for wise investments and 840 acresduri ng the second phase ofdevelop­ protected home environments, both of which ment. By build-out. Sun City Summerlin's are sati sfied at Sun Cit y Summerlin. This all anti cipated population will bebetween 10,000 contributes 10 stable community growth and . and 12.000 new residents who are at least S5 in our opinion, a better community:' years of age. But can this desert valley with its limited " Due 10 the recent Fair Housing Act. we're natural resources adequately handle this much going 10 start selling our homes to individuals growth? who are 55 yea rs of age or old er instead of45 "From the corporate real estate standpoint, as originally planned so we will comply with we are look ing for managed growth. This this federal legislation." Hanneman ex ­ takes into consideration the water and land plained . adding that thei r average buyer is ex­ GaT)· Whill>lQn . assiSl

We Create Interior Designs That Sell Homes!

were

Ask us 10 bid your next project! ""'" c.","", PIu• . Su.,. 1000 l(\.l~ c.",,,,,, P", ~ <.0... Lo> ""vif.>. CA 'lOOI>' (213) 553- 50 32 - - - -oe. ign- t Interiors

AMP . JA"UARY 19M A_II FIB & VAL LEY BANK

The Del Webb Communitie s have always great to be involved with the Del Webb Com­ We 're a publi cly hcld company with stock been involved with the: ecological issues of mun ities beca use of theu expenise.They have holders who would like a return on the money their community. "Our original Sun ell)' in excess of 28 years experience in bui lding invested ,so we need to invest it prudentlyeven communities were buill in the desert in planned retirem ent communities , golfcourses tho ugh the company is very solid. as solid as it Arizona. w here there are smcter water laws andrecreational facilities. 1bey pay aue nnon has ever been," noted Hanneman who dis ­ than bere." Han neman observed . to quality and details, and that' s the kind of cussed Del Webb's decision to divest itself of "The last golf course we built was in

GRADING AND PAVING

Grading, Paving, Alm s Excavation, Master-Planned Commu nities, GolfCourses and Country Club Construction, Lake Development, and La nd Development Constnution Management. Don Andress David Gubler

••• Specializing in Turnkey Lots for Builders •••

I Current Developers ~ Master-Planned Communities

• A.G . Spanos • Lewis Homes • CanyooGate Country Club • American West Development • Pacific Properties • Del E. Webb/Swnmerlin • B.H.P. Development • Paradise Development • Desert Shores • Collins-Graves Homes • Plaster Development • Green Valley • Del Eo Webb Communities • R.A.. Homes • Lakes at West Sahar.t • DiLoreto Construction • Richmolld..American • Spanish Trails Country Qub • Homes by Dave Brown • Torino Development • Whitney ......

AMERICAN ASPHALT, INC. 3624 North Goldfield (i 02) 649-2669 Xorth Las Vegas. l\'V 89030 Fax (i 02) 649-8693 Nevada Busin ess .Juurnal SUNCITY SUMMERLIN

The Sun City Summerlin Team a Family Reunion

by Oa vid Hofstede

The one common denominator found among all the Summerlin el Webb began work on the Sun City The homes range from 1.086 10 2,484 Summerli n project with several simi­ contributors is an square feet . Each model offers a different D lar developments already under its theme and color scheme. ...i tb one room de­ collective belt. w eco's ability recall upon nor abiding respect fo r signedto illustrate apanicularhobby.1be first onlyits0"'0 experience. but that ofanalready is "Desert Casual". decora ted in soft cream assembled creative team gave the project a the Del Webb ...-ith copper and aqua accents. The them es are sig nificanl 00m1 in its early stages. As a result. Corporation and its nature lover and rock collector. 1be second fhe creation process of Sun City Summerlin model home features a white-on-while decor. o ften resembled a fam ily reunion withou t the creative team. teal andred accents. anan collector and trav­ buffet dinner. eller theme. and utilizes highlights oflacquer. Like all reunions. the Sun City family keeps brass and glas s. gelling larger. One ofme most prominent new The third model has a "Southwest Contem­ additions is the Newport Beach. California porary" design in cream. rust and green. ....ith architect ural finn ofRichardson Nagy Manin. This may be Richardson Nagy ~ tarun 's first ....ood entries, texture s and light pine furniture. The firm was responsible for designing all the collaboration with Del Webb. but they are not The hobby room contains Southwestern and residential prod ucts and the sales center. new to golf cou rse de velopments or Las Ve­ Indian an.The fourth is tropical in theme. with A 101 011 of 13 different unit floor-plan de­ gas. having contributed five prod uct lines to pastels. a soft lavender carpet. rattan furniture signswerecreated for three linesofhousing­ Spanish Trail. and white tile. " which. in the hOIweat her, can sevensingle-familydwellings. three duplexes " Working for Del Webb was an enjoyable have a very cooling effect:' says Eic hen. A and three garden townhouse s. The exact experience . We loo k forward to working with study of orchids is this home's hobby'. which number ofbuildings has yet to be determined . them again in the future:' Nagy said. fits in with its overa ll co lor scheme. tho ugh plans call for up to 25.000 people to be The task of creating furnishings and interi­ The fifth home is more eclecti c, combining living in Sun City when the final dust seules. ors for the Su n City Summcrlin project fell to traditional and contemporary elements. The -n was a 'o'er)' com plex architectural proj­ a pair of California finns. Carol Eiche n Imeri­ colors are teal and lavend er with a soft gree n ect" said principal architect Huba Nagy. "we ors. Inc. ofSanta Ana and Design I Interiors of carpet that is picked up in some of the fabric . rare ly get to work on 13 separate plans at once Los Angeles. Eichen was responsible for the She ll collecti ng is the selected hobby. Model - it was Iike designing three projects sim una­ single-family' dwellings. Design I - the du­ number Sill is "Sophisticated Southwest". in necusly." Wo rk began in the spring of 1987. plexes and townhomes. beige and bro...n with black eccerus. The with !'"agy reapi ng the benefits o f kthe input "Our specialty is e",'ironmental market­ hobby ofpho tography' is illus trated in the den. and expertise of Del w ebb's corporate office. ing." said Carole Eichen. " we're there to help accented with leathers. light oaks and cream which represents the mos t current. up-to-date select the right type of products - tile, cabi­ tile .1be last model is a bit more fonnal. util­ thinking we could provide:' netry .etc.to makethe buyerrelate to the decor. izing peach marbl e and white- washed furni­ Nagy outlined his initial objectives . "We and to make the home livable." 1be design. ture. 1be color scheme calls for beig e and tried to come up with a cheerful exterior ap­ purchase andinstallation processfor the seven peach .... ith accents of soft blue. Golfis the des­ pearance and an easy . comfortable living models took three months to complete. ignaied hobby. environment. We introdu ced a certain amount " We had to unde rstand who the buyer was "These are vibrant, enthusias tic people . of transparency in the floor design to lend an goin g to be and mak e the home comfonable ready to relax and enjoy the fruits of their la­ open. spacious feeling: ' Covered ex terior. for them. These are 'empty nesters '. age 45 bor:' Eichen observed. " we had 10 choose rear porches funher extend the livable square and up. Many. we were told. were fro m Sou th­ environme nts that would stimulate and in­ footage. "because with the weather in Las ern Cali forn ia. We know they' like to feel vigorate an active fulfilling retirement,"Atthe Vegas. and the adjoining golf course. the out­ youngerand they like brighter colon. soft pas­ same time." if we designed the homes as if they door living space becomes just as import ant as tels and a cont emporary Sou thwes tern feeling. were elderly. ....e wou ld chase them awa y. so the indoor: ' Nagy also chose materials that so we opted for that over a more traditional we'v e done exactly the same things here that would keep maintenance to a minimu m. look and it has gone over very well." we 've don e on other projects.(such as) the use

A·14 A,",P . )" " UARV 1989 S U MM E ~ lIN TE AM Much Success to Del Webb's Sun City Summerlin!

Goldline Kitchens of more lacquer. wicker. bright colors and is proud to be a part oI lhis overstutfed furniture." Their strategy has been very successful. landmark development. Our Eichenproudlyreports thai when previous Del q ua ~1y calinets arediSjllayed Webb first phases sold out,"I heard many as U1sialled by Branch peopleplan to do lhcir homes in the C'1l3C1 same .... ay as the models." Designs. lasVegas, Sue Plresroee.president of Design ( Interi­ Nevada. ors. approached the project in much the same way. Their design s for the single-story du­ Gold line Kitchens', ple xes and garden homes"did not go inlOthe distributed nat~ I~, isthe lace and Victorian look thai one might associ­ ate ....ith the grandparent set. Thafs a danger­ name )OU shou~ know for ous stereotype.considering that mostof these ki1chl 85063 den for watching television or doing needle­ (800) 433-2289 peen. ~ secoruiduplex, m~

welcoming. where people wouldn't e xpect to r> be pounced on by a dozen sales people. "Conversely, we had to provide enough TURF functional space (incl uding a topographical table and a video room) so that it wo uld still be EQUIPMENT a work place for sales. The building actually SUPPLY CO. had to be the opposite of what it portrayed to the public:' she said. "The professionals choice." The other majorconstruetion project at Sun City Summerlin is the 45.00Q-square-fooc recreation center. Budgeted at S6 million . Ihc: center is actua lly four multi-purpose buildings designed in II campus plan by James Barg and Associate'S, Inc. of Tucson. Arizona. But RAIN~8IRD., James Barg isn't about to take alllhc: credit for ns creanon.MA lotofwhatwe do for Del Webb comes from Ihc:ircriteria andtheir input. Our Turf East Turl West Turt Central archi tectural program is based on 30 yea rs of 32 Commerce Otr. Dr. 6555 W. Sahara 3558 Procyon Av. their e xperience. "Through working with Del Webb, we 've (Sunset & MIn. Vista) 367-2267 873-2468 456-4620 learned that what they are selling is a lifestyle, so ou r objective was to reinforc e that idea:' Barg said. "our buildings are designed for Sun "Serving So. Nevada for over 25 years!" City residents to have a complete amenity package for day-to-day continued activity." The co mplex includes a snack shop, a social hall with auditorium seating for 500. an in­ door spa. a 5O-by-IOO-fOOI swimming pool. a weight room , tennis and racqu etball courts. exerc ise andaerob ics rooms. billiards. mini­ ature: golf. an ans-and-crafts area and a club­ Congratulations to Del E. Webb 's house: for Ihc: project's golf course. "This is SUN CITY SUMMERLIN absolutely !he: nicest recreat ion center Del Webb has ever built. They are ded icated to we are proud of our participation make Summerlin the Cadil lac of retirement on this immense project. communities," Berg said. George Goebel Interiors of Tucson was respo nsible for the interior design of every­ thing except the housing." A lot of our input came from our background of do ing previous facilities for Del Webb, and know ing the WESTERN quality from which they operate:' said George Goebel. " But we also wan ted it to fit in more TECHNOLOGIES with the loca l environment.(drawing upon) the colors of the mo untains and the desert. Goebel' s finn also warted on a similar INC. project at Sun City Vistoso in Arizona. "Ibe Summerl in center has more of a club atmos­ .. .. phere (than Ihc: v istcso center)," said Goebel. THE QUALITY PEOPLE Mit is has a more open. friendly look - less institutional." This was accomplished throug h the use of foyer space. woodwork, wall cover­ Geotechnical, Construction Materials ings, area rugs and chandeliers. The IS-hole golf course was designed by & Environmental Engineering Casper Nash and Associates of Phoen ix. Arizona. In the past 16 years they have de­ signed 12 0t hercourses for Del Webb, includ­ 3611 W. Tompkins Ave., Las Vegas NV 89103 ing the Hillcrest cou rse in Sun City, Arizona. (702) 798-8050 Thi s is their first in Las Vegas. "O ur goal was to create a challenging course for the type of With Facilities In Phoenix - Tucson - Flagstaff - Albuquerque cl ientele that Del Webb sells to, .... hich in­ cludes both excellent golfers and novices. " said Greg Nash. Th is was accomplished SUMMERLI N TEAM 3 BILLION IN ASSETS through the use of multiple lee boxes and somewhat larger greens. The all-Iurf. 69OQ.yard. par-72 course w iII beopen to the public for the first few years. bUI S ash believes it will at some poinl be acces­ 65 sible only 10 Summerlin residents. The firsl nine holes are scheduled to open any day now, OFFICES with the back nine ( 0 follow soon. The rest of the Summerlin greenery. with the exception of residential developm ent. will be added by Lifescapes. Inc. of Newport Beach, California. The company has worked 108 on retirement communities in the past. but this is (heir first undertaking for Del Webb. They DAY& NIGHT TELLERS earned the job after a Webb representative visited their Sun Lakes development in Ban­ ning. Californi a. "We were responsible for the basic land planning and street syste ms," said Chief Ex­ 2200 ecunve Officer and Director of Design Don Edwards. Th is included designing the main­ EMPLOYEES entry gateway at Lake Mead Boulevard. the courtyard of palms and architectural walls SWTOUnding the mformationcenter. jbe street­ There's strengthinnumbers. saping along Lake Mead and Del Webb Boule\'ards. everything around the golf­ First Inrcrsrare Bank ot Xevada C IR ~l '~ ' automated telh-rs 1111fT1 COUf'Se clubhouse and recreation center. jn­ IS the biJo:.o:e"t bank in Xcvada. S our t"' Ja"t to coast and in Canada. duding the' mini-golf course and the sales st rength and sino prO'vide you with \\"to abo offer you a wide ran ge 01 part. which incorporates 12 models and the the kind of securnv vc u want and investment opportunities. all insured l h ~' ~o ffi ce . should get from a bank. up to :51 00,000 by an aeencv of We're pan of the nation's ninth " federal governme nt- - We brought many years of experience and largest bank system, w ith 51)5 billion Or you can choose other invest- !>l.illto the project. and these plans are some of .n asse ts. We're also the only bank in rnems . from t ".S, zovemment sec un- 1be best and mos t creative we've ever done ," Xevada that lets you cas h a personal res to tax-free municipal bonds to said Edwards. who hopes to inject "more of a check for up 10 SI.ooo in any of our mutual fund s. RSOIt flavor" into the project "We want the 65 offices statewid e and in over So w hetbcr yo u'n- looking for invest. ressdentsto feel as if they were on vacation:' 1.300 other First Interstate offices mem opportunit ies or just a bank that Fifty different varieties of shrubs and over in 19states. gives you great service and peace of 1.500trees were used to cover between 20-25 And vou canget cash instantlv mind, bank w here half of all at our ~ i g h t Tellers" ~ l' do their lCT'eS of land," We had to be careful with the lOS Day 8.: r:. vadans business. iCb:lion of plants due to the climactic ex­ In ~evada and at 15,000 r;:~ B3nk tremes of Las Vegas. but we still wanted to i3. = !J"e the project a balance. from palm trees to Xobod y ma kes banklnJ< eas ier. ~ trees," Specifically, Italian story pines. \kppo pines. Mondett pines. Mexican-fan j:IIkns. .... indmill palms. dale palms. African ~. ocotillo and ethers. Also at wort on Angel Part and the Mirage A i/fl I L l Find relief inthis free booklet. s..e..e Wynn's new Strip resort ). Edw ards Write :"Dollars and Sense: described his first Del Webb collaboration as "-'(NUn/ee),J -"er:o' favorable and very successful. We were Pueblo, Colorado. S1OO2 Join individuals and organiuotions *""~ to give our best effort. and w'e're .....ho are lKlping nnrly one curanely pleased with how it' s going ," We can million people....; Ih lheir lall &deed. the one common denominator all beat returns. Thepeople being helped con tributors inflation iDlIInd among allthe Summerlin is are lo.....-income. elde rl)'. _ Dding respect for the Del Webb Corpora­ handicappedor havedlfflCUl~' ifwe just ...and its creative team, James Barg, whose ....~1b English. Th e IRS .....iJIlu in use our c.DpIJly participated in Webb's Sun City you. T~p,o g, a m isalled VlTA­ dollars escscdevelopment and iscurrently working Volunleer tncome Tu As';sunce. and sense. _ a satellite recreation center for Del Webb's For de l.'ils. call ihe neuesllRS City West. summed il up; "We do a lot of officelisrrd in ycur local lrlephone fora lot ofdevelopers in retirementcom­ d"~ , o ,, . -nties, but Webb just goes overboard for jf:.,:#1f;l Q:ir buyers, They're the best:' •

AMP • JANU"' ~Y 193'1 ...·11 SUN CITY SUMMERLIN

rnanufacnrrer's cabinets in their Sun City Phoenix developmen t."This is a high-qualiry line of cabinets with which the owners were very pleased:' said Branch . Branch Design handles hundredscfcustom orders (or tailored cabinets and accessories. Contributing to the Customers can order speci alized cabinets di­ rectly from the local company. Cabi net mak­ ers will measure and draw a design of the Del Webb Sun City order. They will then send the order to the Excel! manufact uring facility. Exce l! is a na­ tionwide man ufacturer located in Phoen ix. Success Story Branch Design installed the cabinets (or the Painted Desert. Regat ta Point and Spanish Trail housing developments.

FIRST A :'Io t ERICA S TITLE

First American Ti lle will guarantee the title and set up the escrow accounts forthe property o....ners at the Sun City Summerlin deve lop­ The Sun Cit)' Summerlin success. like Del as liaison between the project owner and ment . From their on-site office at the sales Webb's other SUIJ Cit)' successes in Phoeni.I American Aspha lt. According 10Andress, this pavilion. First American Tille issued title in­ and Tucson, Ar;:0/ra. is based on a coopera­ type of coordination is necessary for both surance on the loans (or the golfco urse. They tire program dedicated to thr \.t', ....' best per­ parties. will also research rhe residential property formance on the pari ofeveryone involved. Las Vegas has been the home of American deeds for liens and other inconsiste ncies . This The follo ....-ing companies represent only a Asphalt princi pals Don Andress and David searc h is often a lengthy process. Public rec­ fraction of lht (otalnumber involved in mak­ Gubler, who bolh graduated from local high ords are examined (rom the time they recei ved ing Sun Cit)"Summ('r!i" the premier retire­ schools. Tbe company was fonned in 1976. their federal or state patent to the moment they me"t COfl1muni!)· in~'n ·ada . incorporated in 1977 and has beenunder cur­ are given over to private ownership. This reo reer management since 1983. search wiII identify flaws in the title, unpai d 1be growth in Las Vegas has created an mortgages and improper legal descriptions. A~1 ERI CA S ASPHALT influx ofgood contractors. Private developers When agents have confirmed a valid first­ oflen seek Ameri can Asphalt's expertise and pos ition deed or litle. the company will insure American Asphalt utilizes a wide range of knowledge to find reputable sub-contract ors. a clear tide for the residential owner. expertiseto overseeprojectdevelopment.The Several master-planned co mmunities were Once the buyer and selle r have entered into company spec ializes in supe rvising all facets managed by American Asphalt. The company a contract. licensed title agents must inspect of construction for propeny owners. The local ran turnkey operations for Green Valley, De­ the property lines and surveyor's measure­ constructioncompanywi ll contract [0 manage sen Shores. Lake s at West Sahara and the ments. In order to guarantee all title proce­ a development and lake responsibility for Spanish Trail and Canyongate Cou ntry Clubs. dures, First American Title must verify that successfully completing the project. Supervi­ the residential property has nor been recorded sors from American Asphalt will direct sub­ BRASCH DESIGS on adjacent land. contractors in ~anh moving. sewer and water Escrow accocna are established to hold installalion. mason work. landscaping and Branch Design lrcorporared was awarded documents anddistribute funds 10creditors. street paving. -W ~ are willing to take total the contract for the cabinet work in therestden­ According to Vince Figgins, state mana ger responsibility for a project from the initial tial homes at Sun City Summerlin. Dennis south, First American Title enjoys an estab­ earth work through completion." said Ameri­ Branch. pres ident. brings sixteen years experi­ lished work ing relationship with Del E. Webb. can Asphalt partner, Don Andress. American ence to the cabinet making profession. The The imem ational nrle company worked with Asphalt specializes in contracting to private co mpany was formed three years ago. Del Webb on the Sun Cuy project in Phoenix building developers. Eight to ten cabinet makers from Branch as well as projects in Tucson. American Asphalt received the cont ract to Design will spend approximate ly three days in The company has been in Las Vegas since perform the initia l grading and development Ihe model homes and a day in each of the 1971 and they have insu red titles (or "The of the: go lf course at the: Summerlin site. A product homes. Kirchen, bath and laundry Lake s, Whi tney Ranch and many residential large 63 1 scraper and severer 0 -9 tractors are cabinets will be installed in each home . In properties in las Vegas. Vince Figgins moved being used to shape the 1.5 million-cubic-yard addition to cabinet storage. decorative mill 10 Las Vegas fromSan Bemadino and hasbeen course. w orkers have encountered a high moldi ng. wei bars, book cases. television with First American Title for 26 years. volumeof caliche soil ar the site . but according stands. stereocabinets and fireplace fron ts will to Andress. this was expected. be installed. Fourtee n model homes are cc m­ ::\IICHAEL ::\t ASO:"li RY On-sire operations are con tinually mom­ pleted and feature a wide variety of Branc h rored by AmericanA sphah officials.Develop­ Design's work . Michael Masonry will handl e all the ma­ ment progress was continually update d by Jeff Branch Design is the exclu sive distributor sonry dutie s for the residential units at the Sun Hardin, a consultant for Del Webb who acted of Goldline cabinetry. Del Webb used this City Summerlin projec t. The company reo

4018 AMP . JIo,NUAAY1989 SUN CITY SUMMERLI N WE'RE ceived me renewable release contract due 10 their expentse in the residential field. The eight-year-old Las Vegas company has per­ formed the masonry work for the Palladium. KEEPING SOME VERY lhe Sahara Paradise Plaza. Spanish Trail and die Park business/retail devejcpmem on Para­ dise Road. Additionally, they handled the residential-tract ..... all masonry for Richmond IMPRESSIVE COMPANY. America. Lewis Homes, Collins and Graves. American w est Homes and the Schulman Group. to name a few . And we're p roud that Del Webb's According TO ~1ichad Cieona. president. Summerlin has chasen us to be 0 his company will ConSINCl over 8.000 feet of sitewallsusingregular block and slump-block port of their team. designs. Slumpblock is a decorativetechnique .....-hich creates an une ven or slumped appear­ ance. Michael Maso nry contracted 10 dig (he trenching. set the foot ing and set the rein ­ forcemeats for the mason .....ork at the project. This work includes the peri meter walls. the site wall s. the smaller garden wall s and the larg e concrete columns which decorate some o f the units . Cicoria does nor antic ipate any problems with the mason work on the site. "This area is typically hard and rocky andsometimes pres­ ents problems when we try todig our trenches or set the footing. When this happens, special work by the general contractor is necessary to prepare the soil. However , we have run into no such problems so far: ' say s Cicoria. Michael Masonry will have two cre ws of five workers on the site at all limes. ENV RONMENTS SA!'iDERS CO:\STRlx n O!'i

Construction companies at the Sun City 1625 17th Street Sum merlin stre have repeatedly encountered problems while ane mpnng to dig through me Santa Monica, CA 9040 4 hard ca liche soil. The rock-like soil must be (213) 450-2590 broken or fractured before real attempts at earth movtngcan begin. Sanders Construction was commissio ned beca use of their special talents for 'softening ', the constru ction site. serving other prominent LasVegas develope rs. Sanders Construction dri lled and blasted ever 100 acres at the Summerlin project. This technique involves drilling into the rock layer andinserting explosives whichare designed to frac ture the soil. Oncethe hard layerofsoil has been broken apart, earth-moving equipment can begin to shape the sue. There are many variables which require prec ise calculations ~~~~~on~~~ andattention to detail. For instanc e, the depth of the hole depends on the depth of ~ rock manon Catalog. 0 The Catalog lists over 200selected layers: the width of the hole depends on the federal publications ofconsumer interest on subjects :IJT1OUnt of explosives to be inserted into the like health. nutrition, fede ral benefits. money manage­ tIole; and the amocruofexplosivesdependson ment. 0 The Ca talog is free and so are many of the addr~, the thickness and overall mass of the rock booklets. 0 JUst send your name and no strings by'er. Typ ically. 20 10 70 pounds ofa fuel-oiU anached. Write today: amino-acid mix is used . .JII::::: Co n lO u mer I n fo rma l io n Cen ter The layer of rock andcaliche soil is cau sed W Depl. nr, l'ueblo, Co lo rado 81009 by' a vein of highly pressurized wate r forcing irs .... ay 10 the surface. Sanden Coesuucnon u.s General SeT"UOS Adminis tration SUN CITY SUMMERLIN

has encountered rock layers like this from system with a weather station is currently Although 40 of these larger trenchers are West Las Vegas 10 Phoenix. under construction at the project's IS-hole currently in Las Vegas [Q handle the recent Formed in Henderson in 1971, Sanders course to prevent the desert from reclaiming expansion, Vosburg Equipment is one of the Construction has applied their expertise to its territory. few local companies to carry this particular such projects as the Fashion Show Mall. the The Lindbergh Maxi-System.w-hich keeps machine. new addi tion at Bally's Grand (the old MOM), the greens smooth at 17 other gol f courses in Vosburg Equipment sells. services and the Angel Park Detention Basin and Spanish the Las Vegas Valley, was installed by T urf rents a wide variety of large eart h mo ving Trail. among others. Equipment Supply Company. equi pment in the Southern Nevada area. According to Sales Manager Steve Forde. S~ R VEYORS I~CORPORATED the system uses 30 percent less water than a W ESTER S T ECH:\OLOGI ES non-computerized system. thanks to the Crews from Surveyors Incorporated are weatherstation that relays information on how Western Tec hnologies Inc. is providi ng a gradingandmarkingtheinitial plansattheDel much water is needed each day. wide range ofengineering services to the Sun Webb development project. Turf Equipment previously worked on the City Summerlin project. Engineers and tech­ The local surveying company received a two Angel Park municipal golf courses and the nicians from the employee-owned organiza­ one-year contract 10 survey and measure the course at Painted Desert. among many others. tion will inspect and test most co nstruct ion layoutofthe development.According 10Terry "Summerlin is one of the biggest projects phases of the development. From the initial Carter,presidentandregistered landsurveyor. going, and is definitely one of our largest." geotechnicalexploration to overlot grading, to this project called for dependable surveying Forde said. Th is is thei r first collaboration the final placement of concrete and asp halt, crews to "come early and stay late." Surveyors with the Del Webborganization. whom Forde Western Technologies Inc. will make sure that Incorporated is able 10 perform all surveying described as "an experienced staff of profes­ specific requi rements are met. services at a competi tive price. sionals. and great people to work for. Western Technologies professional staff Surveying crews have ongoing responsi­ "When the course is finished. we'll go in conducted an extensive geotechnical explora­ bilities during all phases of development. and train the superintendent in using the sys­ tion at the Summerlin site. This exploration Once a suitable site had been chosen, the next tem, and we will maintainan ongoing relation­ utilized a truck-moumed dri lling rig and track­ priori ty was to measure the lay and slope ofthe ship for years to come:' Turf Equipment also mounted backhoe 10 retrieve samples from land.Crews from Surveyors Incorporated hopes to be involved with the irrigation of vary ing depths. to identify soil and rock for­ were on the site from the beginni ng. After the Summerlin's residential areas, though as yet, mations. Laboratory analyses of the samples surveyors measured the land format, property nothing has been decided. determine the properties of the soi l. Problems lines and elevation. earth- moving equipment with soil expansion or atypical settling are was called in to begin shaping the site. VOS BURG EQLlP:\IE:\T then identified and recommendations are pro­ Surveyors Incorporated was then able to vided to the developer for use by the structural stan staking the street improvement lines. Vosburg Equipment supplied heavy trench engi neer and eart hwork contractor. Curbs, sidewalks and driveways all were digging machines to handle the difficult dig­ Once eanh moving has begun. more sam­ staked accord ing to precise plans. As con­ ging at the development site. The trencher, a ples are taken to verify the initial recommen­ structio n crews moved in with heavy land­ 500 horsepower Ditchwitch mode l 65·10. has dation. moving equipment. and masons begin their revolu tionized the industry. "The Summerlin project is typical of the initial work, Surveyors Incorporated was only According to Gary Vosburg. president of soils found inthe weste rn panof the Las Vegas gett ing started. the fourtee n-year-old Las Vegascompany, the Valley:' explained Sen ior Techn ician. Mike Utility lines. including laterals. had to be hard caliche soil of Sout hern Nevada often Brueske. Mike is j ust one of Western Tech­ measured and staked dow n. The golf course. presents serious problems to smaller digging nologies employees who continually monitor block walls and houses all needed property machines. -ne lighter trenchers cou ld not dig the progress at the site. lines. Monuments, which are established at through the rock-like desen soil. To remedy Western Technolog ies Inc. and Del E. permanent reference points 10 aid in future this. headache balls and backhoes were called Webb Communities have enjoyed a history of development, were also marked . Surveying in to break up the soil," says Vosburg. successful projects. Consulting services for responsibilities continue even after the con­ Th is time-consuming process ca lled for a Sun City Phoeni x,Sun City West and Sun City struction work has ende d. Propeny lines are 5.000pound ball to be dropped from acrane to Visroso near Tucson were provided by West­ re-evaluated and any dev iations are registe red. fracture the soil. In extreme cases dynami te or ern Technologies. Four three-man crews will work full-time at other explosives were used to break up the soil. According to Steve Weidenhamrner. P.E. the site. Additionally, the field crews will A backhoe would then excavate the boulders - manager , materials engineering (WTI)­ receive the pan-time support of the admini­ and large pieces of packed soil. Development Del E.Webb Communities is a very pro fes­ stration staff. owners would then purchase gravel to back fill sional client. They set very stringent perform­ The three-year-old Las Vegas com pany the gaping holes left by this excavation. This ance standards for all of their projects. Meas­ performed all the surveyi ng duties of the techn ique proved too expensive and time urements and verifications aredouble checked Crystal Springs project. the Upper Flamingo consuming to be efficient. Accord ing to Vos­ on a regular bas is." said We idenhammer. Water Detention Basin. and the Pacific Prop­ burg. the headache-ball techniq ue would take Western Technologies has bee n associated erty Development. up to a week to dig a utility lateral whereas the with many of the new projects for otherclients Ditchwitch model65-IOcould accomplish the in the Southern Nevada area. incl uding the T UR F EQ Ll P~ I E ;o.; T SU PPLY C O. same job in a few hours. new Golden Nugget on the Strip, the Trop i­ The large trencher. along with seve ral cana Hotel Tower addition. First Interstate Golf courses and dese rts are natural ene­ smaller models, are being used to dig water, Tower, Nevada Savings and Loan headquar­ mies, so at Sun City Summerlin, they're not sewer and electrical power lateral trenches at ters, seve ral large Residential/Golf Course taking any chances. A computerized irrigation the site. projects and the Laughlin Bridge. •

...·20 AMP . IAN U"'RY 1969 v~~~~i) Michael EQUIPMENT M AS 0 N R Y, I N C. CO NTRACTORS Equipment Rentals • Residential Drilling & Tract Blasting • Commercial Contractors DITCH WITCH sates> Service • In Business leasing Since 1980 Serving the West

3862 South Valley View LICENSED, BONDED 565·0344 Las Vegas. NV 89102 AND Il'O SURED 113 HickorySI. Henderson, NY 89105 876-9380 368-4498

!B'tanch ~t~1t1\N ST41l'J' fDHifjni, [Inc. ~ = CONTRACTING, INC. = Providing Goldline cabinets lor all Del Webb Sun City Summerlin homes Specializing in L1FESCAPES, underground utilities INC. KITCHEN and rock trenching Landscape Architects & BATH and Planners U OESIGN "Serving Nevada CENTER Since 1980: '

Cabinets - Closets Remodeling Contractors (702) 644·1117

2810 North Nellis Blvd. Las Vegas, NV 89115 Nevada Business Journal

SUN CITY SUMMER LIN

by Michael D. Ross. P.E.

From Planning to Reality

i)SunQtvSummerlin COMMUNITY PLAN

el Webb Corporation is completing the impressive task of the ten-month ini­ D tia lsue developmemof Sun Cuy Sum­ merlin located in nonbwest Las Vegas.Since the ~l arc h 21s1 ground-breaking ceremony. Del Webb. the master planner and builder of this active-adultcommunity. began construc­ tion on an 18-hole championship golf course. proshop. can-storage buildin g. multi-million­ toso. near Tucson. Messrs. Ryan and Henne­ the respective utilities and these needs were dollar recreat ion center. a 7.sQO-square-fool man ass isted the a.c. Wallace des ign team incorporated into the mas ter planning efforts . model-home pavilion and 13 model homes. with the spe cial design considerations ofa Sun Throughout all of the plann ing process. Del Webb has also begun building 31 residential City community. Webb 's mana gement insis ted on providing a homes and is preparing another 344 lots for The com bination ofWebb's specific exper­ high-quality community regardless of the immediateconstruction includingall basic in­ tise in the design of adult retirement com mu­ additional expense. The Webb management frastructure and utilities. SunCity Summerlin nities and G.c. Wallace, Inc.' s. knowledge of knows fro m ex perience that they sell to a very will be open to the publi c in mid -January. local requirements has result ed in a win-win demandi ng and vocal clientele. In the event of Del Webb Corporation's success in com­ situation where the need s of the Sun City any perceived problem s. the homeow ners will pleting such an am bitious project is due to their community are recog nized whi le respecting ge nerally noti fy Del Webb Corporation prior agg ressivene ss and expe rience with proj ects the regulatory responsibility of all loca l age n­ to contacting the city or other age ncies. of the magnitude of Sun City Summ erlin. cies. Often the speci fic design concepts which Sun City Su mmerlin will provide a sig nifi­ Building a golf course community is nothing have proven successfu l in the other Sun C ities can t eco nomic benefit to the Las Vega s Val­ new to the Del Webb Corporation. They have conflicted with local improvement standards. ley .The 5.900 residents. which will eventually constructed 20 golf cou rses in four Sun City In these cases. it was necessary to both mod ify reside in the first 1050·acre phase, will con­ communities since 1960. Some ofthe staff in­ some Sun C ity concepts to loca l standards and tribute 10 the local economy. Many of these volved in these projects were directly involved to inform the local agencies as to the special future reside nts will have moved to Las Vegas with the construction at Sun C it)· Summerlin. need s ofthis com munity. Modifications to the fro m other areas of the cou ntry. Most will In add ition to their constructionexperience. basic design criteria used to plan for future place no demand on the local job market. but the Del Webb organizauon has considerable utilities were also warranted by the unique their influx of retirement sav ings and mves t­ kno wledge and experience with their custom­ demographic makeup of this community. In meers will flow throughout the business ers, the active-adult retire ment community. this regard. Webb prov ided statistical infer­ com munity. In add ition to thei r economic The requirements of this specific marketing manon fro m the existing Sun City communi­ input, many Sun City residents become ac­ niche and the age-controlled aspects of the ties to serve as the basis for developing new livel y invo lved in local volu nteer organiza­ community rece ived special anention during design criteria. lions contributing both financially and with the plann ing and detailed des ign of Su n C ity. The infrastructure development for Sun their personal efforts. Unde r the direct ion ofTom Ryan and leRoy City has not been a simple task . Masrer plan­ The rapi d developmen t and ultimate suc­ Hanne man of Del Webb Corporation. a.c. ning for the J050-acre development needed to cess of Sun City Summerlin will be the result Wallace, Inc.• provided the engineering de­ considernotonly Sun City's future gro .... th but ofDel weboCorporanon'sexpernse with this sign and master planning for all the basic the planned development of Summerlin and type of deve lopment and the enthusiastic co­ infrasuucture (utilities. road ways, flood coo­ other private lands adjacent to the project. All cperauonofthe cityofLas Vegas andthe olher trol. etc.) required by Su n City Summerlin. major water and sewer lines crossing the site agencies. It has been very exciting for every­ The specific requirements of the active adult were oversized 10 allow for future develop­ one involved to see this community evolve com munity pervaded all areas ofengineering ment of the surrounding areas. Po.....er. rete­ from planning 10 reality this rapidly. • design. Based on thei r experience from Sun phooe and natural gas requirements for Sun C ity West. near Phoenix. and Sun City Vis- Cityandthe adjacent land were alsostudiedb)' ) , Where business takes ott.

A dynamic industrial park nestled in a lush green setting. An oasis. where a growing economy. tax advantages, and capable work force combine to produce a nor)' favorable business climate. Com;eniently accessible by air. rail. and ground trans­ portation. For information: Howard Hughes Properties P.O. Box 14000' Las "'gas Neyada 89.4 702' 7914440 I HUghes Airport Center Las l'egas. Nevada'" TIllS JANUARY, DEL WEBB OPENS TIlEFIRST ACTIVE SENIORAD ULTCOMMUNITY IN LAS VEGAS. Sincebuilding SunCity, Arizona in 196Q Del Webb has been the leader / in active senior ad ult communities. LAS VEGAS And now,after • "'sun"'C:Oity':":::SII"'m""merlin developing Sun City West and Sun City vtstoso,Del Webb presentsSun City Summerlin in Las Vegas. As a master-planned community, Sun City Sununerlin covers IPSO acres at the footof the panoramic.Spring Mountain Range. It will feature an 18­ hole golfcourse,a complete recreation center, tennis courts, biking and "oggmg paths, and a variety of other !eisureand athletic facilities, ButSunCitySummerlin is more than a place to play. It'sa place to live, as wellSo we offera choiceof 13 different home models.All affordable. PHOENIX All well-built and distinctively SunGtyWest designed. And all very secure. Sothisjanuary, follow the leader. To one of the deanestand roostcom­ plete communitiesin America For more information, write Del Webb,Sun City Summerlin,Dept. ~19. P.o. Box 80IBQ Lasvegas, Nevada 89180. Or call702-363-5454 TUCSON Sun City VlS1OSO ~Del Webbs SunCity .. Summerlin OneofAmerica's leading d ties. 9 , Neva da Business J ournal

Legislature to review Nevada's tax structure in 1989 Nevada legislators will be reviewing the state's tax structure during the 1989 session. One plan that won 't get much discussion is. stale income tax, overwhelmingly rejected by voters last November. The ballotproposal must be approved again in 1990 before it can be placed in the Nevada The Constitution. However. the vole of 82 percent for and only 18 percent against the prohibition sends a clear message to lawmakers. The proposal also leaves open the option of a corporate income or profits tax , and that topic is likely to be discussed during the ses­ Silver sion as the legislatorslook for ways torely less on gami ng and sales taxes and more on a diversified tax base. The ballOl: question developed last summer when various groups began ciJeu lation peti­ tions calling for new tax sources, Gaming DOlDe industry representative quickly gatheRd enough signarures for the ~ frcm people who wanted a permanenI ban on 11 personal income tax. Nevada is one of seven stales that does rXJC levy such a tax. However, lawmakers have been reluctant to put a ban into the Sevadll Consritunon because of the possible need of new taxes in the future. Also approved by voters was a proposal dw exempts from state sales and use taxes any personal property that is donated or loaned 10 tax-exempt organizations such as church or civ ic groups. Courts levy stiff Gunderson also criuc ized Combined for a Voters rejected a plan to exempt from tau­ punishment against "sa dly inadequate" response 10 repeated ef­ tion the sale of build ing materials. machinery forts by Mrs. Ainsworth 10 get policy benefits and equ ipment in depressed areas of the stale. insurance company that were urgently needed to cover her hus­ Also rejected was a tax exemption for the band's med ical expenses. sale ofgo ld,silverorplatinum bars and medal­ In a decision harshly cri tical of insurance The insurance company insisted the stroke lions authorized by law 10 bear the state seal. companies thai ignore their customers' was the result of a disease:and nor an accident claims. the Nevada Supreme Court has irn­ as a result of medicaltests. but the Supreme PSC rules Sierra Pacific posed nearly 56 million in punitive damages Coun disagreed. against Comb ined Insurance Compan y of "Combined's conduct was neitheracciden­ may purchase power from America. tal nor simply negligen t." Gunderson wrote . out-of-state sources The ruling reverses Washoe District Judge - tnspite offive requests madein 18months, in DeborahAgostiandcriticizes the companyfor spne of the serious nature of the insured's An effort by Nevada's geothennal energy a consc ious disregard of the right s of former accident. uconducted no independent mvesu­ producers to halt Sierra Pacific Power Sparks Councilman Tom Ainsworth. who galion and unerl y failed to evaluate fairly the Company's emergency purchase of power suffered a stroke and wasn't able to collect medical evidence it possessed in its cla im file. from our-of-state unliries has been rumed 59.600in insurance benefits. ~S i nce we find its business conduct totally down by the state Pub lic Service Commission. Ainsworth suffered a stroke in 1982. but unacceptable, we are refuctant to disturb the The PSC says its rules allow Sierra Pacific ...henhis wife sought the insurance benefits to jury's determination thai a sizable award is 10 unilaterally issue contracts of less than one cover medical costs, me claim was denied necessary 10de ter Combined from pursuing its year's duration to meet unanticipated energy without any investigarion ,according 10 the Su­ inappropriate methods," the court said. needs. preme Coun. "The insurer is under a duty 10 treat its But commissioners also saythe Reno-based Ch ief Justice AI Gunderson. who wrote the po licyholders fairly," the opin ion states. "The utility mus t seek PSC approval when consid­ opinion. said Judge Agosti erred in setting obst inate , unjustified refusal 10 pay a legiti­ ering con tracts that would exte nd for longer aside the punitive damages while awarding mate claim is offensive to society, precisely than one year. Ainswonh the 59.600 plus 5200.000 in com­ because the cons umer pays for insurance to The Nevada Geotherm alIndustry Commit­ pensatory damages. gain secu rity and peace of mind:' tee, a coalition of more than ten geothermal AMP . IA ~ U" R Y 1989 J 7 S I LVE R DOME Management g . :a&?£e7,uznce, producers. had sought a cease-and-desist or­ der to halt issuance of new energy contracts. Thecoalition and state Consume r Advocate Fred Schmidt also said the PSC or other inde­ We know how rare leisure time can be for busy professionals. pendent reviewe r should monitor the contract bidding process. The geothermal companies contended they also know that a long day ar the office leaves lillie lime for such We wouldn't get a fair shake from Sierra Pacific mundane tasks as housecleaning, grocery shopping. yard work and pool on such contracts because the utility favors maintenance. conventional energy sources. But Sierra Pacific says it just wants to buy a ur innovative service can take all the work and headaches OUIofhouse­ the least expensive energy, and geothermal hold maintenance.We handleALLaspectsof maintaininga homefrom the power isn't the cheapest. obvious to the obscure such as scrubbing the pool tile, replacing broken Sierra Pacific is looking for 135 megawans sprinkler heads. shopping for groce ries and changing burn t-Dul light bulbs. of additional power over the next three years, in addition to its current peak capac ity of844 megawatts, in order to meet projected in­ A nd yes . we do windows! creases in demand , In voting four-to-one to lift a hold on new energy contracts , commissioners said Sierra Pacific 's energy-buying policies will be re­ 871 -3525 viewed when the utility's next three-year energy master plan is approved. Commissioner Mike Pitlock dissen ted, saying the PSC should take an active role in assuring that there isa fair system forawarding 4250 South Wynn Road s Suite B · Las Vegas. NV 89103 the contracts . Legislat ion considered to prohibit smoking in Nevada businesses

Smoking could be prohibited in all Nevada businesses. including casinos, under a pro­ posal that has been recommended by an in­ terim legislative study panel. The Subcommittee on Health Care en­ dorsed the plan after deciding it would be a more realistic approach than a flat ban against smoking in all business, Senator Ray Rawson of Las Vegas. chair­ man of the subcommittee. says a flat prohibi­ tion would have run into resistance from busi­ nesses as well as legislators . and an approach TONY & SONS that gives businesses a choice would be more acceptable . MODERN AUTOREPA IR SPEC IALISTS "We're establishing a clear direction that something has to be done." says Rawson. "It makes an important public-health statement 383·9818 - smoking in public places shall be assumed unlawful." PORSCH E• MER CEDES The law change would also affect enclosed V O LK SWA G ~N places frequented by the public such as medi­ AUDI • cal offices, Rawson says the change would discourage IX] most businesses from allowing smoking. He ~..E.O.lX1i

The succ ess of a Ca lifornia ballot measure to roll back insurance rates by 20 percent has spurred talkofcost-cuttingreformsin Nevada. Although Californ ia's Proposition 103 is being chall enged in court. Common Cause of Nevada says similar reform is expected to become a top priority for its organization. Common Cause's board of directors "went for the idea lock, stock and barrel." says Leola Arms trong, executive director of the group. But Nevada Insurance Commissioner David Gates says such drast ic reform might not work in Nevada where only 0.4 percent of me nation's insurance policie s are wrinen , California holds 20 percent of the policies Mm tion this ad in thr Xroada BusinessJournal ....-ritten in the United States. and receive a 10 % discount. "Insurance companies are in business to make money and jf they can 't make a profit. they'Ugo somewhere else:' Gates says. Gates points out that most rates haven't been rising too fast in the state anyway. Auto insurance rates, for example. were pretty stable until about four years ago when they began rising five percent a year, he said. The 1987 Legislature approved some insur­ ance reforms in Nevada. The most significant 1987 reform requires insurance companies to gel Gate 's approval before raising rates in­ stead of just notifying the commissioner as in the past. Study shows Nevada has highest non-farm income in the nation

Nevada, with little manufacturing in its economy in comparison 10 many other states, has taken the number-one spot nationally with average non-farm paychecks that are II per­ cent fatter in 1988 than they were in 1987. The United States Commerce Department released the statistic in reponi ng that manu­ factun ng states have begun to close the gap ..-ithother states after lagging behind the na­ tional average in persona l income growth during the 1980s. For the United States as a whole, the annual rate of non-farm personal income growth for the last fiscalyear was 7,7 percent. up from 7,1 percent in the prior fiscal year period. Great Lakes and Mid-Atlantic states depen­ dant on traditional heavy manufac turing are C(>1l ri nu r d New S IL VE R DOM E Reward? con,j n ~ ed improving. while income growth in the South­ east and Far West has cooled a bit. according to the Commerce Depanment. Nevada is the exception in the Far West. ABSOLUTELY! well ahea d of neighbors such as Oregon with an eight percent increase. California witha 7.6 percent increase, and Was hington with a per­ New Reward Checking Accounts Mean: sonal income gain of 8.3 percent. Utah had a 5.9 percent increase, while · 5 1/4 percent Inte rest · Arizona had a 6.2 percent increase in personal •Free personal checks ' income growth. • Free safe deposit box' The Commerce Department also released •Free cashiers checks' statistics showing the average per capita in­ • Free travelers checks ' come for every man, woman and child in Nevada is up 5.9 percent to $16,366. That • Free money orders - compares with a national average of $25,481 • No annual membership fees for Visa or MasterCard · for an increase of six percent. (When you maintain a minimum balance of $2,000) Only 11other state s topped Nevada's aver­ age income level for the last fiscal year, with Connecticut leadin g the nation at $2 1,266 in Nevada State Bank is the one bank that has been serving the per capita earnings. That's an increase of 8.8 percent over the prior fiscal year. busine ss and personal financial needs of the valley since 1959 . New Jersey ranked second at $20,352, fcl­ lowed by Massachusetts at S19 ,142, Alaska at $18,230 and Mary land at $18, 124. Rounding Today, Nevada State Bank is the one bank leading the way out the top len were New York, California, toward the future with a wide range of innovative, individually New Hampshire, Dela ware and Virgin ia. designed services including one of the highest interests avail­ Mississippi ranked last in the survey with a per capita income of $10,292 for a 5.2 percent able - 5 1/4% on our New Reward Checking Accounts. increase. We're Still The One Courts do not hold state responsible in mortgage company failure The Nevada Supreme Court has dismisseda case filed against the state by investors in a defunct mortgage company. Attorney Ge neral Brain McKay says the dismissal establishes the principlethat "the slate is not a guarantorof investments." Harold and Ruth Scott has sued the stale for negligence, contending the Commerce De­ partment and its Financial Institutions Divi­ sion failed to properly regulate Imperial Mort­ gage Corporation. Several hundred investors had an estimated 53 million invested in the Las Vegas company when it filed for bankruptcy in 1984. So far, a federal bankrup tcy judge has approved reim­ bursemer us of about 28 cents on the dollar. The Supreme Court said regulation of fi­ nancial institutions is a discretionary function under Nevada law. and therefore " no action can be brought against the state based on alleg ations of negligent or ineffective inspec­ lion. superv ision or regulation of mortgage companies," The court, in its findings, says it concurs withfederal court rulings which have heldthat federal regulatory authorities aren't subject to liability for claims based on allegations of ineffective or inadequate regulation of fina n­ cial inst itutio ns. • 40 AMP . JANUARV 1'M9 Nevada Business Journ al

TO YOUR H E ALTH

by Larry D. Denny , M.D.

Doctors Beware!

Are we traveling the road to socialized medicine?

eahh care can be delivered to patients $30,000 per mon th in maintenance expenses. Ion. Medical care in this country is of the in one of two basic systems. fee-fer­ Another reason for the increasing costs is the highest quality and the most available in the H service or prepaid service. In the staggering price placed on med ical malprac­ world. In spilt of this, physicians are under United Stares, the fee-for-service system is the lice insurance. II is not unusual for premiums vicious attack. They are unable to objecc 100 basis for care. This system is comprised of to reach $100.000 peryear. A generalized lili· loudly beca use the patient has been placed private. public, and philanthropic arrange­ gation atmosphere e xists in America. and between them and the regulators. Physicians menls. A specific service is provided for combined with an out-dated 1011 system, can lack the forum to presenl their case to the which a fee is charged. In contrast. England perpetuates rising costs. pu blic. II appears the medi a ",",oukl rather ex­ has a socialized health-care system - an ex· Ironically, anomer cause for high costs is posethe rare "bad apple" storyand undennine ample o f a prepaid service. England 's doctors the system being formed 10 holdCO'itsdown. A the public confidence in physiciansasa group. are paid by a me:thodcal led capitalion. Physi­ large regu latory bureaucracy is developing lbe patient is totally unaware of how quality cians receive a fixed annual sum for each pe­ within Medicare and Medicaid for cost con­ med ical care for him is loweredorevea denied eenr on their assigned patient list. regardless tainment. The costs promoted by this legion of as more and more restrictions are passed. of whether the services are used. Payments are admmisrranve personnel appears to be redi­ Unde r the socialized system in Engbnd. a made by the government in the amounts they recting the health-care dollar away from the panem is entitled 10 free, or very nearly free. spec ify. Under this system. even though doc­ physicians and to the burea ucracy , This is nor med ical services. With the government paying tors are not direct ly em ployed by the govern­ holding costs down. Doctors , however musl the bil l. and the patient not having to carry ment , their livelihood is controlled by it. accept the blame as well . Physicians fees are medical insurance coverage. this looks very In Ameri ca , we have fough t very hard to generally co nsidered Ihe major reason for ris­ attract ive (0 the public. The legislator is also prese rve our system of free enterpri se and ing costs. Nevertheless. although physicians pleased because he sets the fees. thus assum­ ind ividual liberties. The fee-fer-service sys­ fees have been on the rise, their office operat­ ing he can control the cost. What isn't publi­ tern is part of this heritage, bUI the growing ing costs have escalated at alarming rates. cized is the fact that the patient is put on a trend within-our govern ment appears 10 be the As a new doctor finishes tra ining, he is wailing list for his elective rreatmenl. For ex­ destruction of these idea ls. Our system is un­ faced with an educat ion debt of as much as amp le, patients with disabling anhntis often der attac k on seve ral fronts including the me­ $100 .000. Add to thaI office practice start-up have to wait up to seven years before their dia. the legalsystem, insurancecompanies and costs of $75.000-$100.000. and the initial "tum" for joint-replacement surgery, Is this the government The medical co mmunity has year's$ I0,000-$75.000malpracti ce prem ium really whal we want? Look around. it is hap­ allowed itself 10 become:a convenient target, and a physician is deep in the red before he pening. one lillie regulation at a time . and if current trends continue, complete de­ ever sees his firsl pat ient. Tbe main point here Doctors need 10 stopbeing 50apolitical. We vitalization ofou r medical system will occu r. is mal government regulalions controlling the must sWJd up and be coerued. We mould in­ Vlhy is this war developing? Economics! fee for service physicians are directed toward form the public so we can stand together in the The cost of health care in America has been anacking the fee itself. I don'l see regulations banle agains! government controls. Our asso­ rising ar an astounding rate. These costs have being enacted 10 control the offICe costs. This ciations must fighl harder to educatethe pub­ forced legislatures 10 examine the system and alarming discrepancy in health-care legisla­ lic. Doctors are easily theirown Worsl enemy, proposewholesale changes. A physician now tion. if continued, can on ly spell disaster for If thisdoesn'lstop .ourabilirylo provide medi . performs a service and subm its a fee, bul the the deliverance of health care in America. cal excellence shall jusl fade:away. • payment made 10 the doctor is set by the Vlhy are doctors in trou ble? Physicians as a paying agency (i.e.. Medicare). As this system groupmake an easy target mainly because they Dr .lNtufJu .... ~ Slft'fM'I .....~ lDlJu v... evolves, health care in America begins 10 look are nor a grou p. There are many physicians' ,...,....Trwsdlld l.ofuia"... HrMnwiilf W U S.Air;0'« forJ-r~' 1Udi/ 1974. ..,,v,, IJr 'ruhwi .... '--'rporf, wlrr rr Irr W

AMP . ....NUARV 1989 41 Nevada Business Journal

Nevada State Bank: 30 years in Las Vegas

Thin y years ago this year, Nevada State Nevada Briefs Bank ope ned its doors for the firs t lime at their downtow n loca tion. Beginning as a small 10­ cally-owned and operated business, the bank became well know n as a family and small business friend. often consu mmat ing transac­ tions with a hand sha ke and a prom ise. Nevada State Bank gre w up with Las Ve­ gas. addi ng seven full-service branches and was eventually purchased by Zions Bancorpo­ ration out ofSalt Lake City. Utah in December of 1985. But through it all, Neva da State Bank managed to maintain localcontrol and a strong local flavor. The current board of directors is still made up of loca l businessmen - many of who m owe their ow n success in business 10 Nevada Sta te Bank. Members of the board include: Chairman Roy Simmons. Vice Chairmen Pat Clark, President and CEO Ric hard Carlson, and members Wing Fong , David Hemming­ '.' ...... way , E.T. Hermann, Anh ur Marshall, Roben Rob inson. Harris Simmons and Gary Stewart. Nevada State Bank initiated the first pho to check-guarantee cards in Nevada and re­ sponded to the growing and changi ng needs of Major restaurant remodel such nati onal clients as Ramada. Inc" Stouffer the valley with such things as extended lobby Restaurant Company. Red Robin Internation­ hours. pre-arranged checking-account credit completed at the Frontier al, Magic Pan International and Southwest lines and specialized direct-deposit services. Foods. In 1988, Beckham/E isenman has re­ In kee ping with modem trends in banking, ceived awards for its outstanding work in Nevada State Bank will be introducing several Beckham/Eisenman. one of the nation's interior and food facilities design from both new product line s and services this year ac­ leadi ng commercia l design finns serving the Restaurants & tnstitmions and Restaurant! cord ing to Senior Vice President Operations hospitality industry, has completed a rnajorre­ Hotet Design International. two prestigious Administrator Stephen Qualls. modeling of the restaurant facilities at the trade publicat ions. "Reddi-Checking." scheduled to be avail­ Frontier Hotel and Gam bling Hall . The new able this month. is designed to provide check­ restaurants at this well-known Las Vegas ing account services to anyone regardless of landmark include Michelle 's Place. a 15.000­ Gaudin Import Center thei r financi al situation. "If's a dynamic yet square-foot showpiece theme restaur ant: Mar­ on the move simple checking account:' said Qua lls, "Cus­ garita's. an upscale Mexican restaurant with tomers can open a Reddi -Check ing account exhibition cooking; and Justin's , the hotel's witha few basic, inexpensive services. As they gourmet dining room. The design of the new Gary Ackerman, general manager of Gau­ grow financially they can upgrade the ir serv­ food facilities is the initial phase of a major din Motor Company announced plans for a ices to accommodate their needs. Then later in remodeling of the entire hotel by Beckh am} new Gaudin Import Center showroom whic h life. when the same cus tomer may not need as Eisenman. The entire project will encom pass will be built adjacent to Gaudin Ford/Saab at much service, they can reduce the cost of 350 guest rooms, custom-designed luxury 2121 E. Sahara in Las Vegas. Reddi-Checking by again limiting activ ities," suites. bars. lobbies, casino and sports book. The new 5 1.2 milli on facility will add over Also opening this year is another major In conjunction with the Frontier project as 12.000 square feet to the existing Gaudin Ford inno vation for Nevada State Bank. Full-serv­ well as ot her ongoing assig nments. Beckham! buil ding which will then become one of the ice Nevada State Bank branches will debut at Eisen man has opened an office at 4 170 South largest car dealerships in the world. covering sill. Smith's Food King Superstores. Th is revo­ Decatur Blvd .• Suite C-4 in Las Vegas. The more than 26 .000 square fee t under one roof. lutionary new concept will add a new dimen­ firm has com pleted several new projects in Las The current Import Center loca tion on sion to 'c evada Stale's services and nearly Vegas. including Soup Exc hange and Marie Boulder Highway will be convened into doubl e their ex isting number of locations. Caltenders Restaurants. A sec ond Soup Ex­ Gaudin 's body shop and the body -shop por­ The trust depanment at Nevada State Bank change Restaurant is curre ntly underway. tion will become the pans-and-service depart­ has also introd uced a new service within the Established in 1979 and based in Irvine, ment for the lmpon Center. last few years. Through a pannershi p with California. Beckham! Eisenman is an awa rd­ Gaudin Moto r Com pany has bee n a family ­ Frank Russell Funds. an investment company winni ng interior design and contract furnish­ ow ned business for 66 years , making it the one out of Tacoma. Washington. Nevada Stale ings grou p specializing in hotel, restaurant and of the oldest continuously family-held Ford Bank now offers multi-management invest­ other hos pitality projects. The finn serves Dealershi p in the nation. ment serv ices for its cus tomers. • by Annt'ttt' Bidart and James Ross

Fixed Income Investment Decisions: Long-Term vs. Short-Term Maturities

S••lnrnull lin.... Bu"d Ind ...,

Rtfunr I Risk. Rt fUnr I Rid Rt fu", Risk Rtfu", I RiJk 1927.19-16 6.1"l- 29.7 ~ 5.2% I 3.7"1 ' .0% U % 0.... O..s ~ 1947·198 7 11.8'1 • 14.4'l 4.1"1 I 8.2% 4.2 "1- 8.8'1 4.8% 0.... Sset allocation has always been the 1963-1987 9.9'1 1 15.2% 6.3% 10.0'1 5.8% 10.7% 6.7'1 I 0.8'1 most imponant decision to a plan I I A sponsor in making long-terminves t­ ments. Once made, whether 30 percent or 70 S"k,mu.. Kn .... C;m l'r m" ...nl 1rea....un K.ll C',wnnwn lall''' P''"r perce ntof the fund is placed instocks orbonds, \ l'"r the nexi step is 10 set guidelines on how the R....d IndC', Rund In dC" '""", Ind,,", asset classes should be invested. This artic le focuses on long- and soon-termfixed income, Rr fNnr Rt tNnr Rrt unr Rrtu", and the questions that plan sponsors should address when selling guidelines for their 192.7_1987 4.9'l U% 3.4% 4.2% money managens), In the ear ly 19505. Harry MarkowilZ intro­ 1927-19-l6 5.2% 4.3'1- 0..... 1.6'1 duced theconcept of risk as applied 10 portfo­ Iiomanagement. Thi s has become the bas is for 1947_1 981 4.7'k 4.2'1 4.8% 5.6% which most money managers are judged ro­ day. From his work. William Sharpe estab­ lished Capital Market Theory. mainly based 1963-1987 6.3'l 5.8'1 6.7'1 7.6% on stoc k: investments, but also applies to in­ vestments of fixed income. Tbe theory states Ihat returns over long periods ind icate that stocks have higher returns than long-term with apparently less risk (as measured by Employee Retirement Income Security Act of bond s. which have higher return s than T-bills. variab ility of rates over the past 25 and 4 1 1974 (ERISA). Theextra return ofone asset classoveranother years. looking closer at short-term instru­ In light of this analysis. we conclude that: is the result of the: risk differences between ments. Commercial Paper may even a more 1) Treasury Bills may not be the best meas­ classes. The more risk you lake. the higher viab le attemanve. ure of returns on highly-liquid cas h equiva­ your return over a long period of time. This analysis shows that Commercial Paper lents. but rather Co mmercial Paper ougfurc be The problem is that since World War 11 . and provided a higher return in both pre-World the benchmark that managers should be more specifically in the past 25 years . Ca pital War II and pos t-World War II periods. One outperforming for cash (liquid) assets. Market Theory does nor seem to hold up. yet cou ld argue thai Com me rcial Paper is riskier 2) More importantly. when determining a most retirement and endowment funds still (in a credit sensejtban Treasury Bills. but bolh long-term asset allocation for a fund. plan structure 10 asset mi xoftheir portfolios on this have about the same variability of return. spon sors should be rethi nking some assump- traditionally accepted risk/return theorv. 11 ~hn"lrI ~ l ...... ""...... ,"--l.. · ""'. ~; "~,,,. .,;..,.... """". ~. dl...... CM higher returns Ihan long-term instruments vidual plan panicipams as provided by the 1".-rJ_nt """ ft(l~'" C(HUlJtin,SnYk" Div. in Rrno. Nevada Business Journal

ACCOUNT ING TIPS

by Richard Chu lick

Computerizing a Business Accounting System

A verage Accounts Receivable Balance:

Old System ($12,000,000 X 60/360 $2,000,000 New System ($12.000.000 x 45/360) 1.500,000 n today 's competitive environment a business needs every possible advan­ Difference $ 500,000 I tage to stay ahead of the competition. For the business manager. staying ahead reo Annual Cost of Money 12% quires the best possible infonna tion about his company .customersandcompelitors.Acquir. Reduction in Annual Car rying Costs $ 60,000 ing the necessary informationis an expensive and time-consuming task. Business owners can loo k 10 computers to help manage the in­ formation most efficiently manner. Is Computerization Ad \ 'I~b le ? AI this poin t. the question arises as 10 Ifsome of these symptoms exist. a serious duce greater efficiencies, thereby reducing whether every business ought 10 computerize. revam ping of the accounting system probably costs. One ofthe areas wherecomputerization This is especially true today, given the availa­ is in order. If the situations con tinue , the busi­ can lead to saving money is throu gh improve. bility and low cost of basic microcomputer­ ness may lose customers, sales , vendors and ment in acco unts receivable turnover. basedaccountingsystems.Almosteverybusi­ em ployees - the very ex istence of the busi­ E xa m ple: Acme Co rp. decides to com put­ ness can benefit from computerization. ness may be threate ned . erize the acco unts receivable department. Still. the old adage. " If it ain't broke, don't Small business owners may look upo n Acme has S12 million in annual sales, the fix it: ' applies. If your business does not ex­ computerization with a grea t deal of fear, average number of days outs tanding for re­ hibit sym ptoms of inefficient or untimely fi­ some of it justified. They have all heard "hor­ ce ivable bala nces is 60 days, and its annual nancial repo rting, a computer may nOI be for ror" stories of bad computerization. rang ing COSI of money is 12%, With the new system, you. If. on the ot her hand, your fina ncial reo from huge cost overruns 10 outright failures of the company has a detailed aged accounts re­ porting system show s sig ns ofstress, il is time the new system. leading to the collapse of the ce ivable report...... ith more recent information to add the speed and pow er of a computer. bus iness itself about its customers and collections, and it can Some indicators 10 loo k for; Certainly. some apprehension is warranted. reduce the average number of days outstand­ • You regularly have to put your bank er 's Any new system will have some cost associ­ ing to 45. The effect on the bcrrom line can be inquiries on hold because lasl mon th' s (or eted with it, both in lime and money. It is also viewed in the chart above. last year 's) financial results are not read y true that some system s are unreliable, and thai By providing better and more timely infor ­ • II lakes days rather than hours to prepare during the installation there will be some dis­ mation. a computerized accounting system bills for your customers or 10 tum an order rup ricn of normal business activ ities. Despite can help management make bener business into a sale all of this. there are benefits available from decisions and plot a moresuccess ful course for • The status ofopen orders orthe availabil­ computerization. the company. Usi ng the computer may also ity ofitems in your inventory cannol be de­ Benefits of Comp uleril.a lion mak e available time thai was previously spent termined and provided to customers Computerization offenreal advantages that on administrative tasks. time that can now be • You do fIOI know how much cash will be save lime and money. It can provide managers puilOmore productive use . required to pay your bills tomorrow or nexi with timely, accurate information so they can These are jusr some thoughts to consider. week make the most informed decisions possible. Your business advisor can provide more de­ • Vendors complain about missed or tare Thi s can lead to a favorable impacl on the tailed informatioo and should be consulted payments bonom line. Ofcourse.computerization alone before any action is taken. • • The accountingdepartmenl regularly has doe s not improve a company 's cas h flow , but 10hiretemporary helpor put in an excessive it allows managers to make bener decisions amounl of overtime to gel routine work thai will improve cash flow . Richard ChulicJ: is a ral' partner in rh~ fi rm completed on schedule. Relevanl and timel y infonnation can pro- Detoine , Haskins &: Seus. ... AMI' . ""..u .uty 1'" ADVERTORIAL C OR PO RATE PR OFILE

ROOD ENTERPRISES

ake two brothers, a manufactured in the U.S., lifetime of being that offers a combination IT]T around the telephone of advantages that the im­ business, an lnnova­ ports just can't matc h. Irs tlve telephone system and a system that has beco me some of that old-fashion ed the bread and butter of entrepre neurial spirit and you Rood Enterpr ises. have Rood Enterprises. However, their pride and The Rood s have been joy is Comd ial's Executech installing phone systems for HoteVMotel System . The the last five years, however. system is geared for proper ­ phone installation has almost ties of up to t OO room s. It's been a way of life. special because it indudes a "Our father has work ed computer that allows the with a major com munications proprietor an integrated corporation for over 25 system with flexibility in years," said RiChard Rood . term inals, a video-display -He started at the bottom and term inal and built-in call worked his way up. He's report ing with costing, which hand led several major eliminates the need for Richard (left) and Michael Rood projects requ iring the in­ expensive call-accounting stallatio n of up to 5,000 systems. "All of this adds up phones. Irs no wonder that to cost efficiency,· said Rood. nrcet end. "Michael is the only or until you can get the ne­ for as long as we can "We are real exclusive in cert ified Comdial technical in cessary parts .It can be very remember, our family has our dealership. All of our the state. He handles all the inconvenient. We maintain a always talk ed phones." equ ipment is Amer ican made, installation and coor dination large enoug h stock inventory The two brothers started unless we abso lutely can 't get of service." to replace anything we've out by doing their own instal­ it. We will install any system , Rood said there have been installed and if any system latio ns on the side and, after but we only sell Comd ial." over 60,000 syste ms installed goes out of service, we'll be three years, recognized the The system includes: lro nt­ nationwide and the failure there in 60 minutes ." opportu nity for a very desk features such as room rate has been virtually non ­ The Roods also offer a 30­ lucrativ e business . occu pancy status and maid existent - somewhere da y money-back guarantee "Based on the experience loca tion; guest telephon e around three percent. based on a lack of pe rform­ and clientele we had built, we features such as visual "As for us: said Rood, ance of either equipme nt or decided to sell business messaging and auto wake­ 'the failure rate has been service, they will refund the communication equipment up; coeretorzattenoant fea­ zero. We haven't had an full amou nt of the purchase and install systems of one­ tures such as call transfer error in installation or mal­ and leave the bas ic installa­ phone up to l ,OOO-phone with recall and calling-station funct ion of equipment in any tion. "Nobod y, but nobody systems. Our average identificat ion; system man­ system we've implemented. has that kind of guarantee, c nentete are small-bus iness agement features such as a We have yet to replace a but that's how much we key markets with three to 128 flexible numbering plan and system we've installed." believe in our product." phones: said Rood. power-fa il provisions; and However, it something Rood Enterprises' c nents However, Rood Enterprises bus iness office features should go wrong, Rood include Money Worl d, Atlas was built around the unique, such as mu lti-line feature Enterprises is more than Realtors, Collins Brother's new-generation Comd ial terminals and direct station­ prepa red. They boast a 24­ Homes, Union Premiums and Executech system which select intercom. minute serv ice-response time many local professionals. Richard Rood claims is the "The best part of the and a ze-nour equipment most efficient hybrid-key syst em. is that it costs 25 replacement. "With most business telephone system percent less than the nea rest Japanese systems, when the Rood Enterprises on the market today . competitor." equipment fails, you have to 2 127 Paradise Rd. Suite B It's more than just a phone Richard handles adm ini­ buy new equipment and send Las Vegas, NV 89 104 system - it's a domest ic stra tion and sales and the defective equ ipment back (702) 734·7663 system, designed and Michael handles the tech- to the manufacturer for repair Beeper (702) 795·9776

ADVERTORIAL - Inflationary Fears Push Nevada Stocks Sharply Lower

1 _

nvestors once again scurried to State Savings & Loan which was the target of a share, or 20.75 percent - said it will buy the sidel ines during the monthly a takeover attempt by a group led by David back as many as five million of its common trading period ended November Maniatis. a dissident director and the thrift's shares. The announcement comes on the heels 11 as fears ofescalating inflat ion largest shareholder. The Maniatis groupsaid it of its terminated agreement to buy the Clar­ rrreared its ugly head. already owns 24 percen t of Sun State's stock idge Hotel-Casino in Atlantic City for 5110 Fears ofhigher inflation combi ned with the and is offering to buy the remainder of the million . uncertainty inherentineverynew presidential shares for S I I each. Wall Street, however. Elsinore did not fare as well as Golden administration-to-be, was too much for the isn'tlending much credence to the offeras Sun Nugget last month as it announced plans to stoc k market to overcome. State closed the month at S7.75, far below the issue common stock in the company to satisfy The result locally: the Nevada Business Sll-a-share offer. the interes t payment due November I on its Journal Stock Index retreated 98.95 points. or Conversely, bullish investors gathered 15.5 percen t senior mortgage bonds. Wall 5.3 percent, to close at 1766.86. a six-month around Major Videoamid reports all but one of Street was clearly concerned with the news as low for our state-wide indicator. In compari­ the plaintiffs in lawsuits seeking to bloc k its EI plunged 62 percent to close at 5.38 a share . son.theDowJones Industrial Average surren­ proposed merger with Blockbuster Entertain­ Elsinore was the largestpercentage loserofthe dered 83.22 points, or 3.87 percent, for the ment agreed to drop their suits. In tum . the two lot for the period. same period. video rental concerns agreed on new terms for In other news. Su nworld International Air­ Of the 32 compa nies in OUf financial bare­ the merger .raising the numberofMajor Video ways suspended all ope ratio ns Nove mber 7. merer.Iosers outpaced gainers by nearly three shares needed for each Blockbuster share to In dividend news, Sahara Casino Panners to one (20 stocks fell in value vis-a-v is seven 1.265 from 1.125. Major Video sha reholders hiked its annualized distribution to 51.12 per thai increase d). This statistic alo ne illuminates approved as their shares soared 52.63 a share, unit from 51.03. Sierra Pacific Resources fol­ last month 's sell-off in Nevada-based stocks. or 23.38 percent, to close at 513.88. lowedsu it by boosting its payoutto 5 1.80 from Stocks in the news last month include Su n In other news, Golden Nugget- up 52 .75 5 1.76 a share. •

NEVADA BUSINESS JOURNAL STOCK INDEX

Closing Closing No ' % Chnge Annua l Ticker Price Price Chn ge In In M umeene Annual Exch Company Symbol 10/07/88 11111188 Period Period Rall o Rale Yield High l ••

OTC Amserv AMSR 3.00 2,13 ·.87 ·29.00 6 0.00 0.00 3.SO 1.75 OTC cacerna Corp, COMA .63 .50 •.13 ·20.63 - 0.00 0.00 2.06 A4 N'8 Circus CirCUS CIA 30.25 28.88 -1.37 ·4.53 0.00 0.00 34.75 19.50 ASE Elsinore Corp. (L) ElS Loo .38 ·.62 -62.00 "d 0.00 0.00 2.SO .at OTC First Western Financia l FWES 6.00 7.25 -.75 ·9.38 5 32 4 ,41 9.75 5.63 OTC Frontie r Savings FRNT 2.13 2.00 -.13 -6 ,10 - 0,00 0 .00 2,63 2.00 OTC Gamin\! and Technolog y GATI 825 TSO •.75 -909 ra 0.00 0.00 925 3.38 NY' Golden Nugget (H) GNG 13.25 16.00 2.75 20.75 5 0.00 000 16.00 9.25 OTC Hytek MiCfQsystems HTEK 3.00 2.SO ·.50 ·16 ,67 6 0,00 0,00 3,50 1.25 OTC Int'l Game Technolog y IGAM 25.50 19.25 -6.25 ·24.51 13 0.00 0.00 27.00 7.75 NY' Jackpot Enterprises JACK 16.38 14.88 -1.50 ·9.16 1,61 17.63 8.38 OTC Linear Instruments (H) U NR 1.13 SO 44.25 "- 0.00" 000 1.63 63 OTC Major Video Corporation MAN 11.25 13.88'" 2.63 23.38 35 0.00 0,00 16,75 3.13 OTC MarCor Development MAAR 3.35 3.38 -.18 -5.06 - 0.00 0.00 4.19 1.75 OTC Migent Software MGNTF 35 ·.06 ·13.64 - 000 0.00 2.88 OTC Nevada Ntnl Bancorp (H) NENB T..50" 7.75 .25 3.33 d 0.00 0.00 7.88 6.,38" NY' Nevada Power Nve 20.13 20.\3 000 000 to 1.52 7.55 22.25 17.88 NYS Sahara Casino Partners SA" 8.88 ' SO ·.38 ·4.28 - 1.12 13.18 9.25 5.75 OTC Sahara aescns (H) SHRE 18.00 21.25 3.25 18.06 d 0.00 0.00 26.00 10.00 OTC Sands Regen t SNDS 12.00 11.38 -.62 ·5. 17 , 000 000 12.50 7.75 NYS Showboat Inc. SBO 8.25 8.25 000 0.00 d .28 3.39 11.00 6.13 ASE Sierra Health Service SLE 1.75 1.75 0.00 0.00 d 0.00 0.00 3.00 1.25 NYS Sierra Pac ~ i c Resources S" 22.13 22.75 .62 2.80 t t , eo 7.9 \ 23.75 19.75 NYS Southwest Gas swx 21.25 20.50 -.75 ·3.53 , 6." 23.25 18.88 OTC Sun State Savings s Loan SSSL 7.88 7.75 -.13 ·1.65 0'".00 0.00 9.25 5.25 OTC Syntech Interna tional SYNE 3.63 3.38 -.25 ·6.89 e 000 000 6.13 2.38 OTC Vacation Spa Resorts VSPA .09 09 0.00 0 00 ", 0.00 0.00 .13 03 OTC Valley Capital Corp. (H) VCCN 24.50 29,50 5.00 20.41 to .80 2.71 30.00 15.38 OTC Vanderbilt Gold III VAGO 3.63 3.38 -.25 ·6,89 at 000 0.00 M' 3.38 OTC Vila Plus lndustries VPII .38 .35 0.00 0.00 d 000 000 at OTC Wasta' ILl WSTR 35 -.19 -so.oc - 0.00 000 '"9T ia XEBC .09" -3Q .n 0 00 0.00 .09 OTC Xebec ILl .ia '." e .eo ~EV , I"" • _ 1ogI'l'" _ (I.) . _ .... '" _ ', ~ • 00!>0I, NV$• N_ v.... $lo<>; E~ ' M E • ""'-carl S""" E~, OlC • 0- Tho ~ .101 • 0\eI1e,..t>y"o«l:>y .._ . ""', ..... _""'.. _"""'_..._ ..""_t>.o...... ,,""_..""_...... "' ,..,.. ___.. OUO!toC' ..~____ 2600 LEGEND

• Nevada 2400 D Dow Jones 2200

2000

1800

1600

1400

1200

1000 APR 27 MAY 27 JUN 29 JUL 13 AUG 11 SEP 13 OCT 07 NOV 11

CLOSING QUOTES FOR BAR CHART (Above) MARKET DIARY Date Nevada Dow Jones

Advances 7 Declines 20 Unchanged 5 New Highs 5 New Lows 4

MOST ACTIVE ISSUES

Largest Dollar Gainer Valley Capital Corporation $5.00 Largest Dollar Loser International Gaming Technology ·$6.25

Largest Percentage Gainer Linear Instruments 44.25% Largest Percentage Loser Elsinore Corporation -62.00%

INOICES Net Percent Close Close Chng in Chno ln 10t07t88 11/11/88 Period Period Nevada Business Journal Stock Index 1865.81 1766.86 -98.95 -5.30 Dow Jones Industrial Average 2150.25 2067.03 -83.22 -3.87 N.Y.S.E. Composite 156.81 151.24 -5.57 -3.55 Standard & Poor's 500-Stock Index 278.07 267.92 -1 0.15 -3.65 NASDAQ OTC Composite 385.67 373.76 -11.91 -3.09 A."-\P • IA"UARY 1989 47 THIS is [he brand-new Mercedes-Benz 300CE stake a claim before you get there. Coupe. And , like most precious metals, it is Test-dr ive the 300CE Coupe, or the four-door ext remely hard to find. 300E and 300SEL sedans, at you r ~ Fortunately, we've unearthed a few and authorized Mercedes- Benz dealer. they 're available now for a test drive. Better hurry, [hough, or so meone else might UKE NOOTHER DEALERS INTHE WORLD.

TEST·DRIVE TH E 300 CE COUPE AT YOUR AUTHORIZED ~I ER C E D ES·BDI Z DEALER.

FLETCHERJONES l~IP O RTS EXCU'SI\11.Y .\I EIKEDES·BE:'\Z..>J ll-IE FJU:E\\AY.u -ro CE:'\TE R. 3100 SOlTH R...." CHO DRIYE. L...."'EGAS. :-..Y (- 02) 36+ 2-00