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June 1999 Sales Professionals Jbusiness You DON"T HAVE to BE on 'WALL STREET 40UR~~1 to WORK on WALL ADVISORY BOARD of DIRECTORS Marys

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June 1999 Sales Professionals Jbusiness You DON N T R 0 D U C N G ... MACDONALD RANCH COUNTRY CLUB A RARE COMBINATION O F THE BEST THERE IS . THE SETIING IS ETERNAL. THE VIEWS EXTRAORDINARY. THE REWARDS UNEQUALED. MACDONALD RANCH COUNTRY (LUB .•• THE NEW, PRIVATE RESIDEN­ TIAL AND RECREATIONAL COMMUNITY UNLIKE ANY OTHER YOU WILL FIND IN GREATER lAS VEGAS. WITH A MASTER­ PLAN THAT HAS TAKEN OVER TEN YEARS TO PER­ FECT, TH IS DRAMATICAL­ LY DIFFERENT COMMUNI­ TY IS SITUATED ON 1200 ACRES NESTLED INTO THE McCOU..OUGH MOUNTAINS. e BREATHTAKING VIEWS AND SPACIOUS HOMESITES e A 24-HOUR MANNED GUARD GATE e AN 18-HOLE JAY MORRISH/ DAVID DRUZISKY DESIGNED PRIVATE GOLF COURSE e A PROPOSED CLUBHOUSE FEATURING A GOLF SHOP, SWIMMING POOL AND EXERCISE FACILITIES. e TENNIS COURTS ARE ALSO PLANNED AS WELL AS HIKING, BIKING AND WALKING PATHS THROUGHOUT THE COMMUNITY. CUSTOM HOMESITES FROM $135,000 HORIZON RIDGE AT VALLE VERDE TO OVER ONE MILLION. MAILING ADDRESS: 702-614-9100 ext. 006, MACDONALD PROPERTIES, LTD. 702-458-0001 ext. 006 OR 2920 N. GREEN VALLEY PARKWAY TOLL FREE 8 77-614-9 100 ext. 006. STE. 212 BROKER PARTICIPATION WELCOME. HENDERSON, NV 89014 Obtain and read the Public Offering Statement bef ore signing anything. Community Association fees and additional fees fo r golf are required. Go lf Course w ill be privat ely owned and operated. Golf Course privileges are subject t o acquisition of membership in private cl ub. Prices, rates and t erms are subject t o avai lability and may change without notice. Not all lifestyle phot os taken on property. COMMENTARYLYLEE.II :::a~: - ACED Publisher Opportunity It's a dream iob ••• but someone has to do it. It's a job oppor· nationally known and respected r your efforts, of course, you are to be tunity where a business is looking to once compensated about 10 percent of the amount person can truly again achieve a profitable bot­ other similar-sized corporations pay their CEOs. And although it's been suggested your make a difference; A tom line. In doing so, it is predecessor left the firm in less than optimal searching for a dynamic new CEO to take the a chance to re- condition, you are totally unprepared for the helm and steer the firm to success. H's a true true condition of the company's budget. verse a company's opportunity to make a positive difference in Add to all this the job's requirement for fortunes. The the lives of employees and countless clien­ travel with the potential for prolonged separa­ tele. Intrigued by the challenge, you throw vision includes tions from your family, and the need to ex­ your hat in the ring and apply for the job. You pertly apply your public relations skills, balancing the cor- are lured by the prestige and potential fame. which constantly places you under the glare porate budget, im· It is even alluded that if you perform the nec­ of the media's scrutiny and, well, your work is indeed cut out for you. proving employee essary miracles, you may one day get the nod In summary, as this firm's new CEO: to run as your party's candidate for president morale, and deliv­ • You can't touch 95 percent of the existing of the United States. budget ering a far better Once you are hooked and fully committed, • Your pay is less than 10 percent of the product to the you learn that although you are expected to normal salary range completely rejuvenate the company, you customer. And you must: must limit the fiscal effects of your plans to • Gain the approval of a contrary board of just 5 percent of the operating budget. Fur­ directors ... but there's a thermore, prior to setting your ideas in mo­ • Deliver better products and services • Cultivate employee morale catch. tion, any changes to the corporate status quo • Improve customer service will require a majority approval from the • Promote customer satisfaction board of directors - a fractious group, each of • Create a profitable bottom line. which harbors his or her own agenda that may or may not agree with what you believe Who would seek such a job? .. to be the best interests of the firm. It gets better. .. Thank you Governor Guinn . • Comments? e-mail: [email protected] 4 . 'evada Business journal • June 1999 Sales Professionals jBUSINESS You DON"T HAVE TO BE ON 'WALL STREET 40UR~~1 To WORK ON WALL ADVISORY BOARD OF DIRECTORS MaryS. Falls- Vice -President, Northern Nevada Business Banking, US Bancorp Ambition. Tenacity. The desire to achieve more in your career. If you have Somer Hollingsworth -President, it takes to establish yourself professionally, we have the means to help Nevada Development Authority happen. And with the opening of new retail branch offices and Pxr•~"''inn Larry E. Krause - Partner and Director, Arthur Andersen LLP others throughout the country, we can offer you the opportunity to MaryDean Martin -President, MaryDean & Associates immediately. Because at Morgan Stanley Dean Witter, we believe you Clare O'Brien -Director ofMarketing , have to wait for success. Nevada Commission on Economic Development Once y01fve qualified for and completed our paid Financial Advisor Stan Thomas- Director ofSpecia l Business Projects, Program, your income and advancement potential are limited only by Sierra Pacific Power Company ability. We'll prepare you for the Series 7 license exam. Provide you with Carole V'tlardo -President, evada Taxpayers Association ing training in support of your ambitions. And show you how to experience Scott Voeller- Director ofAdvertising & Public Relations, satisfaction of helping others invest in their dreams while you pursue your own. Silver Legacy Resort Casino Morgan Stanley Dean Witter. When you want to do more. Opportunities are available in our Las Vegas retail branch offices. For consideration, please forward or fax your resume to: CEO PRESIDENT SUMMERLIN LAS VEGAS (Central) GREEN VALLEY PUBLISHER Dan Anderson Gary Abraham Stephen Brock Branch Manager Branch Manager 242-8345 737-8117 ASSOCIATE PUBLISHER Lyle E. Brennan Morgan Stanley Dean Witter is an equal opportunity employer. EDITOR MORGAN STANLEY DEAN WITT Jennifer Robison Morgan Stanley Dean Witter is a service mark of Morgan Stanley Dean Witter & Co. CHIEF FINANCIAL OFFICER © 1999 Dean Witter Reynolds Inc. Carleen Ortega ART DIRECTOR I PRODUCTION MANAGER Barbara L. Moore VICE PRESIDENT - MARKETING Claire Smith CONIRLBUTING EDITORS Jennifer Baumer I Shelley Berkley I Brian Clark Manuel]. Cortez I Tom Dye I Bob Felten For An SBA Loan, Kathleen Foley I Cindie Geddes I Diane Gla.zman Allen Grant I Kenny Guinn I Dean Heller I Tony Illia Phil Keene I Kim Pryor I Theodore Schlazer R. Keith Schwer I Michael Sullivan I Tom Tail Might We Recommend CORPORATE OFFICE 212 7 Paradise Road • Las Vegas, NY 89104 (702) 735-7003 • FAX (702) 733-5953 www.nevadabusiness.com ASpecialist? SOU111ERN NEVADA MARKETING REPRESENTATIVE Claire Smith Our SBA loan representatives are specialists. NORTHERN NEVADA MARKETING REPRESENTATIVE They have both the skill and the experience to make the SBA loan process work for you. Stephen Brock • Up to 90% financing on Nevada Business Journal is li sted in Standard Rates & Data, commercial real estate #20A-Business-Metro. State & Regional. SierraWest Advertisers should contact Sales at (702) 735-7003 in Southern • Programs with loans from BANK. evada, or (800) 242-0164 in Nonbem Nevada, or write to: $50,000 to $5 million Nevada Business Journal, 2127 Paradise Rd., Las Vegas, NV 89104. Demographic information available upon request. Mon th­ • Working capital, inventory SBA Lending Division to-month circulation may vary. NBJ is published monthly, bulk postage paid. Subscription rate is and equipment loans The Government Loan Experts $44.00 per year. Special order single-<:opy price is $7.50. All contents @1999 copyright, and reproduction of material appear­ • Business purchase loans ing in NBJ is prohibited unless so authorized by the publisher of J\'BJ. In Reno call: (775) 824-3914 CHANGE OF ADDRESS: Please send previous address or mail­ • Construction loans ing label & new address. Allow six weeks. In Las Vegas call: (702) 733-2199 EDITORIAL SUBMISSIONS: Address all submissions to the at­ www.sierrawest.com/sba tention of Jennifer Robison. Unsolicited manuscripts must be ac­ companied by a self-addressed stamped envelope .. iBJ assumes no responsibility for unsolicited materials. DISCLAIMER: Editorial views expressed in this magazine Gl are not necessarily those of the publisher or its boards. w.w C1999, SierraWest Bancorp Member FDIC June 1999 • Nevada Business Journal 5 Contents June 1999 · volume 14 · No. 6 Features 29 Owning a Piece of the Pie CINDIE GEDDEs 63 Destination RenO PART 4 of 4 CINDIE GEDDES Women and minorities command a rapidly grow­ Reno's community leaders have at last forged a uni­ On the Cover: Reno's ing segment of business owners. Even so, many fied front and are ready to meet the challenges of di­ Riverwalk Downtown aren't aware of the resources available. versifying the city's tourism offerings. Redevelopment District 32 Measuring Nevada's Economy KIM PRYOR 73 A Dream in Peril BRIAN E. CLARK is transforming a stag­ nant urban core into a In today's global community, economies are inter­ Impact fees and rising land costs may endanger diversified community nationally intertWined, for better or worse, and Southern Nevada's entry-level housing market, and center and tourism Nevada is no exception. put the price of a first horne out of reach for many. draw along the Truckee Rive1: Photo: Reno 35 A Nevadan Renaissance TO NY ILLIA 84 TopRank Nevada STAlEWIDE BOOK OF usrs News Bureau. Cities repair and renew troubled dO\vntown areas. Auto Dealerships • Golf Courses • Trade Associ­ ations • Hospitals • Woman-Owned Businesses Building Nevada SPONSORED BY SPECIAL TO NBJ BNlO Downloading the decade goes up at Hughes Center • BajA ~ NSIGHT American Dream BR IAN E.
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