~BUSINESS ~OURNAL

CAl Electronics Division of SigmaTron LP PUBUSHER/EDITOR Lyle E. Brennan

ASSOCIATE PUBUSHER MEDI·MAIL: INC. Chuck Dandy ON·C AlL 0 /SCOUIIT PHA R MACY ASSOCIATE EDITOR/ART DIRECTOR Barbara L Moo;e

CONTRIBUTING EDITORS Nevada International Regina Dunbar Trade Corporation David Hofstede William J. Rossman R. Keith Schwer K. Michael Spuhler

ACCOUNT EXECUTIVE Chuck Dandy

The Nevada Business Journal is listed in Standard Rates & Data, #20A-Business-Metro, State & Regional. Advertisers should contact Chuck Dandy at (702) 735-7003, or write to: The Nevada Business Journal, First Interstate Tower, Suite 120, 3800 Howard Hughes Pkwy, Las Vegas, Nevada 89109. Demographic infor­ mation is available upon request. Circulation may vary from month to month. The Nevada Business Journal corporate offices are LEARN PRACTICAL SELF DEFENSE located in the F'li'St Interstate Tower, Suite 120, 3800 Howard Hughes Pkwy, Las Vegas, Nevada 89109. NBJ is published bi-monthly, bulk postage paid. Subscrip­ WE HAVE A PROGRAl\f TAILORED JUST FOR YOU! tion rate is $27.00 per year. Newsstand price is $5.00 and special order single copy price $7.00. Take our Executive Course and learn how to handle All contents 1992 copyright, and reproduction of material appearing in NBJ is prohibited unless so au­ 26 potentially dangerous situations thorized by the publisher of NBJ. CHANGE OF ADDRESS: Please send previous ad­ Confidence Development • Stress Relief • Healing Thempy dress or mailing label & new address. Allow six weeks. EDITORIAL SUBMISSIONS: Address all submis­ Individually Tailored Pmgmms • Private Lessons sions to the attention of Chuck Dandy. Unsolicited man­ uscripts must be accompanied by a self-addressed MEN•WOMEN•CHILDREN stamped envelope. NBJ assumes no responsibility for unsolicited materials. A Academy of Kenpo Karate DISCLAIMER: Editorial views expressed In this 3025 E. Desert Inn Rd. • Ste 7 • Las Vegas, NV 89121 • 733-7788 magazine are not necessarily those or the publisher.

2 Nevada Business journal • Novernber/I)ecernber 1992 November/December 1992 IC0 NTENTS Volume 7- No. 6

Features D Mergers & Acquisitions: The age of the mega-bank is at hand What kind of ripples will spread through Nevada's financial pool with the entry of Bank of America and U.S. Bank into the state's full-service banking market?

m Cover Feature: Continental National Bank The financial institution marks several milestones during its prolific 1992 growth , including becoming the first Ne vada bank to open a state-chartered trust company.

m First Interstate Bank celebrates 90th anniversary From its humble beginnings as a one-room operation with $100,000 in assets, FIB has grown to include 69 offices, more than 1,700 employees and $3 billion in assets. On the Cover: (I. tor.) CNB m U.S. Bank brings banking innovation to Nevada President David Smith; Marlo The first bank to offer persona/loans (1929 ), one-stop banking and drive-up windows Reimer, chairman of the board of (1950s) , and other progressive services, introduces "Non-Fiction Banking" to Nevada. Continental Bancorp; Dr. William Stephan, chairman of the board ofCNB; and Mark Dreschler, m ETNCO assists First Western Bank with expansions plans president of the newly-formed First Western teams with the local commercial real estate company to implement strategic Continental Trust Company. expansion plans for the Las Vegas Valley. Seepage 11 .

Homes of Homes of Distinction: Form and function meet in the Elan Showcase Home m This $2.2 million high-tech custom home features state-of-the-art electronics that control Distinction everything from the fireplaces to the sophisticated sound system and home theatre with the touch of a remote control button .

Departments Ask the Banker: Choosing the right bank for your business m Banks across the country are now paying more attention to the business sector than ever before. Here's how to choose which financial institution will fill your firm's needs.

m Tax Tips: Four reasons to consider U.S. savings bonds now Favorable rates,flexibility, safety and tax advantages all line up in the plus column as reasons to invest in U.S. savings bonds.

m Finance: SBA- financing businesses during credit-tight times Businesses are finding the Small Business Administration loan program increasingly attractive as a vehicle for obtaining financing not available by conventional terms.

m Office Planning: Plan ahead A little foresight goes a long way towards achieving an efficient, cost-effective workplace.

m Nevada Briefs: Snyder appointed to Harvey's board of directors • Entrepreneurs form business opportunities firm • Computer City opens SuperCenter • New manufacturing State-of-the-art is the definitive term for the Elan Showcase Home. facility selects site in Las Vegas • UPS opens new distribution center in Sparks • Seepage 17. Poggemeyer Design Group breaks ground on new western regional headquarters.

IEI:J Business Indicators & Analysis: The Nevada economy continues to grow at a sluggish rate. However, cause for guarded optimism appears in recent key indicators. ' N." "I'd feel a little pain now and then, but I didn't think it was anything serious. Maybe because I didn't want to ... "But I finally went to see my doctor anyway. And it was a good thing I did, because it was serious. It was my heart. "I needed a cardiovascular specialist and surgery. That meant the hospital. "I was worried, sure. But only about me. Not about what it took to get me well. All along I knew I was being cared for-and cared about -by lots of people, start to finish. Lot's of people I never even met. "And I got well. Thanks, HPN. It may not have been easy, but you sure made it simple." ~ HEALTH PLAN OF NEVADA, INC. SM A member of Sierra Health Services, Inc. I: ·I

MERGERS AND AcQUISITIONs The age of the mega-bank is at hand

by David Hofstede

1:SIGNS have all been changed Once more, for any who missed the by now, and it's hard to drive in any extensive media coverage throughout last direction throughout Nevada without see­ year, the deal went like this: on July 31, ing one of them. Bank of America Nevada 1991, BankAmerica Corp. of San Fran­ "SERVICE IS OUR MOST IM- is here to stay in a major way, while the cisco first announced plans to buy Valley name of Valley Bank fades into history Bank for $400 million. Two years earlier, and memory. Security Pacific is gone as Ban.kAmerica had acquired the fman­ PORTANT PRODUCT AND well, replaced at some branches by BofA, cially troubled Frontier Savings in a gov­ at others by U.S. Bank of Nevada. ernment-approved buyout and turned a OUR EMPLOYEES ARE OUR It is hardly surprising that Bank of profit, which whet their appetite for a America officials have talked in elated larger role in the market. They struck a MOST IMPORTANT ASSET." and enthusiastic tones about the conver­ deal with Valley, and then two weeks later sion. What is more unexpected is how announced a merger with Security Pacific -RICHARD ETIER happy other Nevada banking chiefs seem Corp. of Los Angeles worth $4.2 billion. CHAIRMAN/CEO BoFA NEVADA to be as well. What looked at first like a Then the federal government stepped in potential headache has turned into a shot and forced the divestiture of several in the arm. branches in Nevada and other states, fear­ little bit to go," said Richard Etter, chair­ "This is an immense opportunity bigger ing that Ban.kAmerica was approaching man and chief executive officer of Bank than any of us ever estimated," said Bill monopoly status. This opened the door of America Nevada. "There have been a Martin, president of Pioneer Citizens for U.S. Bancorp of Oregon, which pur­ lot of changes, more than we thought Bank. "The response to the merger on the chased 29 branches at a cost of $33 mil­ originally, and it has taken our people part of customers coming to the smaller lion. After the paperwork was signed, time to getup to speed. We're still slowed banks has been overwhelming." Bank of America Nevada emerged with down a little bit, but we're coming out of Continental National Bank President 72 Valley Bank branches and 17 Security it fast and I'm very comfortable about David Smith said he has noticed a signifi­ Pacific branches, and after some closings how we're entering 1993." cant increase in deposits since the an­ and consolidations, they will have a total Other banks, meanwhile, have ex­ nouncement of the merger, not just since of 82 locations in the state. pressed their satisfaction at how they fm­ the new ownership took effect. The acquisition was completed on ished 1992. "We've experienced a 25 "We have experienced about 25 per­ March 13, 1992, and the name change percent growth in our loan portfolio, as a cent growth in our total assets," Smith became official on September 18. Other result of the fallout from the merger," said. "We were at $133 million in Decem­ changes were inevitable: "We've gone reports Sun State Bank president John ber of 1991 and as of September 30 of this through a rather traumatic learning curve Dedolph. At Comstock Bank in Reno, year, we're at $166 million." in the past eight months and still have a President Robert N. Barone notes that he

November/December 1992 • Nevada Business journal 5 "hasn 'thad to advertise for deposits" since Barone believes the merger will have a the merger was announced. "We had negative effect on the Nevada economy. record profits last year, and in the next few "There is a mega-bank making decisions years despite the economy we should con­ about our economy in San Francisco that tinue to benefit from new customers." are less likely to be favorable to us, be­ "We had a rush, and then a drop, and cause they don't have the knowledge of when (the deal was finalized) I thought our situation. The credit previously avail­ here's where it gets tough: when BofA able to Nevada businesses will not be and U.S. Bank start advertising," said Bill there to the same extent as before, and our Martin. "But the day Valley Bank signs regional economy will see slower growth started coming down people took notice -or worse- as a result." all over again. We passed $200 million in John Dedolph ofSun State Bank agrees. assets on July 31, 1992, and we were at "The most important thing we can do for $224 million on September 31. While our community is to lend money to small other banks in our peer group across the businesses, which in turn creates jobs." country grew at a rate of 5.6 percent, we In reviewing figures compiled by the grew 24 percent in two months, a result of Sheshunoff Competitive Analysis Report new business generated from the merger." and BofA's 1991 annual report, Dedolph Continental National Bank's David points to a relatively small increase in Smith said he expects more customers to "THE RESPONSE ON THE BofA's business loans, compared to their leave the bigger banks in the next couple otherfmancial services. "They don 'tseem years as they seek more personal service. to be interested in making those loans, so "This is a trend we will be seeing for PART OF CUSTOMERS COM- businesses are coming to us. We're trying quite a while. There are a lot of customers to take care of them, but there are only so looking for business banking relation­ lNG TO SMALLER BANKS HAS many dollars available." ships for the long term. We cater to those PriMerit Bank president Dan Cheever small- to medium-size businesses not only BEEN OVERWHELMING." has hired additional staff and business by offering specially-designed business development officers to solicit business banking services, but also from a business -BILL MARTIN accounts, and "meet with people who we lending standpoint." PRESIDENT, PIONEER CITIZENS BANK feel can be better served by our bank." This news of a mass exodus is dis­ PriMerit's Nevada-based status has be­ missed by Richard Etter ("We've lost a come a focal point of its marketing. few customers but we've gained a few as is our most important product and that our Pioneer's Bill Martin has noticed an well, so the totals come out about even"), employees are our most important asset. "across the board migration," with the but he acknowledges that there have been These principles will continue to be our real estate area being the most active. growing pains. "When our shareholders thrust, even with the new products, poli­ "Some customers, not a lot, just say they decided to sell the company to BofA we cies and procedures of Bank of America," don't want to do business with a big bank knew there would be a transition period, Etter said. (based) in California; some are currently but we're trying very hard to make the Nine Nevada banks were invited to customers there, but the new BofA crite­ transition as smooth as possible. We don't contribute to this article. Some offered no ria may not fit them, or maybe their loan like to lose customers, and it hurts us comment, or were perhaps tired of com­ terms have changed. Another group might deeply that some have been caught in the menting on an event that has seldom left be worried about changes in the future." middle. But it's like a sporting event - the business pages since its inception. "I'd probably say something similar if sometimes you have to take a step back­ Nevada State Bank president Dick Carlson I worked for them," responds BofA's Ri­ ward to put yourself in a position to take said to "just wish them good luck." Asked chard Etter, "but we've never paid much three steps forward. if he saw the BofA merger as an opportu­ attention to what our competitors say." "Our management team has stayed in nity, he replied, "There are always oppor­ However, he refutes the perception that place, and the main principles of that team tunities for us if we're doing our job." Bank of America is not interested in small "M-e t\y~t.. t\:-& ~\.\£,t~W£~ ~~ lrJ...\"'&~' t ..~ .. ~t .. ~~ v-~ OtbP-~~ 'Jl~t:~ ').. b~.t. -rof.).'C'!. ?~i~"U.\.. - 'P ....o~rt-

6 Nevada Business Journal • November/December 1992 this transition period, while our lending dedication to Nevada's leading industry. merger. "The fact that Bank of America officers are getting up to speed, some The only major change - the loan de­ and other big companies want to come reduction has taken place, but we're get­ partment is the underwriting process. "It here is like a Good Housekeeping Seal of ting back on track real fast and that will takes a lot more of our lending officers' Approval. It re-validates the fact that Ne­ not be a long-term phenomenon. time. The number of loans one officer can vada is a viable, flourishing marketplace "We have always been the leading busi­ handle has diminished under BofA's ap­ that is perceived by outsiders as a good ness bank, even though others have proach because that officer spends more place to do business." claimed the title," Etter continued. "Our time with the customer. We are adding Bof A has been so pleased with Nevada numbers speak for themselves-we make significant numbers of officers to help that they may locate some other opera­ more SBA loans than all the other banks offset the increased time-per-loan." tions here that are not relative to Nevada in Nevada combined." At the same time, Etter also cannot understand the con­ banking. "They are very impressed with Bank of America is also offering a new cern over BofA's California base. "We're the economic climate, the tax climate, the adjustable rate mortgage loan that Etter owned by BofA, but Bank of America labor costs and the central location to says is "at a fantastically low rate, and is Nevada is chartered here, we have our other western states, so they are very open selling like crazy." Also, "with the strength own board of directors and management to further involvement," Etter said. of Bank of America we have become team, and if anything we have more au­ With all the attention paid to Valley involved in a lot of gaming loans that are thority now because we're bigger, and Bank's evolution into Bank of America, much larger than what we could have have bigger lending limits." the arrival of U.S. Bank has been greeted handled as Valley Bank." Which, says Further, Etter sees only positive effects with a bit less fanfare. But Executive Vice Etter, demonstrates Bank of America's on Nevada's economy as a result of the President Ken Ladd isn't bothered - "We

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November/Dece mber 1992 • Nevada Business journal 7 This advertisement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The offering is only made by the Offering Memorandum.

FOR NEVADA RESIDENTS ONLY

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-KEN LADD Copies of the Offering Memorandum may be obtained from EXECUTIVE VP, u.s. BANK OF NEVADA Cathy Kammeyer, Linda Newton Mahan or Valerie sawders by calling (702) 364-2440 provided these securities may be legally offered under applicable securities laws. don't feel overshadowed by Bank of America. U.S. Bank has made a major commitment to the state ofNevada, we're very excited to be here and we've had a great reception from our customers." RAINBOW MEDICAL CENTER As with Bank of America, the need for 1341 S. Rainbow Blvd., Suite 101, Las Vegas, NV 89102 knowledgeable local management per­ sonnel was realized. The management DAY OR NIGHT j255-4200 1· Extended hours team is primarily composed of Nevadans CALL: . • • Open Weekends who were employed either at Security • Medicare • Champus • Culinary • SIIS • Other Insurance Accepted Pacific or the old Bank of America Ne­ vada. This made the transition easier as Comprehensive Personal Medical Care For All Family Members ... Seniors Welcome Specializing in Family Practice, Non-life Threatening Emergencies, well. "I've been through three mergers in Industrial & Personal Injuries. Complete Diagnostic & Treatment Facilnies: my career," said Ladd, "and this is the • X-Ray • Lab • EKG • Allergy Testing on Premises • smoothest I've ever experienced. "U.S. Bank went through a lengthy and Dr. Anthony L. Pollard & Assoc., American Academy of Family Physicians detailed process that began last March

8 Nevada Business Journal • November/December 1992 WE'RE OPENING AN OFFICE ••• • NOT CLOSING ONE!

Announcing the Opening of a New Location to Serve Your Business Loan and Banking Needs. In light of today's banking mega-mergers, the opening of our third branch may not seem like a "THE MOST IMPORTANT milestone ... but it is. We're one of evada's most profitable and best capitalized independent banks. THING WE CAN DO FOR OUR With an emphasis on personalized service, our goal is to help your business grow. If you're ready for a banking relationship that's in your best interests, COMMUNITY IS LEND MONEY consider Sun State Bank- The YES Bank for small business and professional loans. TO SMALL BUSINESSES." Marsha Pippin Vice President/ -jOHN DEDOLPH Branch Manager

PRESIDENT, SuN STATE BANK Call The YES Bank! Sun (702) 364-2440 by identifying what would be changed, State Sun State Bank - Paradise Valley MEMBER the impact those changes would have on First American Title Building FDIC Bank the customer, and what steps should be 3760 Pecos McLeod Dr. • Suite 1 • Las Vegas, evada 89121 taken to assure they were accomplished easily and efficiently and with minimal effect," Ladd continued. "Having said that, there are always problems, but as soon as they are brought to our attention, Help is at your they are solved." Although the mergeris only four months fingertips old, U.S. Bank is already planning ahead. We have the answers to all your concerns "Every single market in the state of Ne­ about living with neuromuscular disease. vada is expanding either at a rate equal or Getting help couldn't be easier. far greater than the national average. We Our lifeline is toll-free. want to grow with the state," Ladd said. · Through its "banking fairy tales" ad­ THE VOICE OF HOPE vertising campaign, which addresses 1·800·572·1717 IJIJ»>( Muscular Dystrophy Assoc i at i o~

Novembe r/December 1992 • Nevada Business journal 9 You're free to ram_ble. More access to more ATMs and branches all over.

Sometimes it's interesting to see convenient branches in the state, "THERE ARE A LOT OF w he re the road leads beyond the and a 24-ho ur customer serv ice e d ge of town. And w ith more li ne available from any phone in CUSTOMERS LOOKING FOR A T Ms tha n anywhere e lse in America. So it' s OK to wander evada, Ban k of America wi ll off, o nce in a w h ile . We ' ll be LONG-TERM BUSINESS BANK- make sure your money's never far there, wherever you end up . lNG RELATIONSHIPS." behind. We've a lso got the most B ANK I NG O N AMERICA'" -DAVID SMITH

PRESIDENT, CoNTINENTAL N AT'L BANK mBank of America many of the same criticisms hurled at Bank: of America, U.S. Bank: hopes to stress its attention to service. "We have a strong fmancial institution with an excel­ lent reputation that wants to do business in Nevada, service the needs of Neva­ dans, and be a good corporate citizen for our state," Ladd said. Richard Etter is also ready to combat the impersonal image thrust upon Bank: of America by some of its competitors. "It's easy to say that our service will decline, but the same people are here with the same philosophy as when we were Valley Bank:. Service is given at the individual level - one on one - it has nothing to do with the size of the institution." • CONTINENTAL NATIONAL BANK Prolific growth recorded for 1992

In the past year, Continental National Bank has reached many milestones in its growth. In February, the bank opened its fourth branch and new corporate head­ quarters in downtown Las Vegas. In June, President David Smith announced a newly formed holding company, Continental Bancorp, which allows the banking insti­ tution greater latitude in lending and other services. Now, CNB has become Nevada's first bank to open a state-chartered trust company, Continental Trust Company, to provide a wide range of trust services. Smith made the announcement re­ cently, saying the formation of a private trust company is, "in line with CNB's commitment to provide an innovative From left to right: Continental National Bank Chairman ofthe Board Dr. William Stephan; approach to highly personal service." Glen Walquist, deputy director for the Nevada Department of Commerce; CNB President He said Mark Dreschler, who has more David Smith; Scott Walshaw, director offinancial institutions for the Nevada Department than 19 years' experience in trust ser­ ofCommerce ; MarkDreschler,president ofContinental Trust Company; and Nancy Dirk, vices, has been hired as president of Con­ operations supervisorforContinentalTrustCompany were all on hand for the presentation tinental Trust Company. Dreschler most of Continental Trust Company's license as a state-chartered trust company. recently worked for First Interstate Bank of Nevada as a senior vice president and regional trust manager. attention and advice to all our customers, "When the bank first opened, we set out to Dreschler said the idea behind Conti­ with a sincere, objective and realistic ap­ be the premier business bank in southern nental Trust Company is to provide the proach to their goals - not ours." Nevada by offering our customers ser­ personal touch in selling confidence with Besides expanding into different bank­ vices and attention they weren'treceiving only the interests of CNB 's clients in ing arenas, CNB has experienced tremen­ at bigger banks. Now that these banks mind for their estate, fmancial and invest­ dous growth. The bank's assets have have become larger still, the window of ment planning. "Most large banks want to grown to nearly $170 million, a 25 per­ opportunity for CNB is even greater. These handle these services in the same manner cent increase over last year's figures. mega-banks just can't give the kind of for all their accounts," Dreschler said. Smith attributes the bank's growth to a attention and service we do, and you can "We will offer a much higher level of firm commitment to customer service. bet we're capitalizing on that." •

November/December 1992 • Nevada Business Journal II FIRST INTERSTATE BANK OF NEVADA

Marking 90 years of service to Neva dans Andy Studdert, southern Nevada area president for FIB

THE fman­ Nevadans. During a recent "Founders pend on our stability and reliability." cial institution Week" celebration, branches throughout Going forward, First Interstate plans to which was to the state conducted special activities to build its strength as a retail bank with a become to­ emphasize the bank's longevity, stability strong f-ocus on commercial business as day's First In­ and continuing commitment to service in well. The bank will also work to expand terstate Bank of the community. the market for its products and services, Nevada opened "We are a community bank and, in fact, particularly among low- and moderate­ its doors for the the oldest bank in the state," says Andy income and minority customers. first time on Studdert, southern Nevada area president. First Interstate recently introduced a Wednesday , "In celebrating our 90th birthday, we fo­ Title I home improvement loan featuring Larry Tuntland, FIB north- September 17, cused on showing our gratitude to the extended repayment terms. The bank also ern Ne vada area president 1902, as the people and businesses who have been took the lead in helping to create the Farmers and such an important part of our growth and Nevada Community Reinvestment Cor­ Merchants Bank. The original branch was success- our customers." poration (NCRC), a $20-million fund to about the size of a two-car garage, and Despite the flurry of merger activity provide long-term fmancing for afford­ featured plenty of cuspidors (spittoons), inside Nevada, both Tuntland and Studdert able, low-income, multi-family rental three teller windows and a wood stove. It say First Interstate remains committed to housing projects in Nevada. The bank has had a staff of three, not including its bank its basic strategies. also enacted an aggressive outreach pro­ president, and $100,000 in assets. "We feel our dedication to customer gram to emphasize its commitment to Today, 90 years later, First Interstate satisfaction, our tradition of playing an low-income and minority communities. Bank has grown to 69 offices, 135 ATMs, active role in our communities and our "Over the past several months, we have more than 1,700 employees and over $3 superior services and products make us taken the initiative to meet with a number billion in assets. "Few companies and no very competitive," says Studdert. "Our of groups in an effort to enhance the level other bank in Nevada can come close to performance during 1992, and through­ of banking service we provide to all con­ matching First Interstate's tradition of out the merger activity, I think, proves sumers in Nevada," says Studdert. "As a service in this state," says Larry Tuntland, that our strategy is the right one." bank, we strive to listen to better under­ the bank's northern Nevada area presi­ "Banking has changed radically during stand the needs of our growing low-in­ dent. "Our stability is demonstrated by the last 90 years - particularly over the come and minority communities." the fact that First Interstate is the only last 10, " adds Tuntland. "During that time, "Through these and other efforts, we major institution in Nevada which has not we have grown from a one-room opera­ are working hard to ensure a successful been involved in a merger, buyout or tion to one of the state's largest banks. We future for our bank and for our state," adds name change in recent years." feel strongly that we have found the for­ Tuntland. "We look forward to our next · September marked First Interstate mula for success in Nevada, and our cus­ 90 years with confidence as one ofNeva­ Bank's 90th anniversary of service to tomers have come to appreciate and de- da's fmest fmancial institutions." •

12 Nevada Business journal • November/December 1992 PriMerit is r~ to help your business respond to an ever-changing economic marketplace. Whether it's financing equipment purchases, providing for temporary or permanent additions to working capital, or procuring additional work space, PriMerit offers you the flexibility of both shot1 and long-term and SBAloan options when you need them. So, go ahead and make your move, we'll be ready. The Bank That Listens PRIMERI'I BANK Federal Savings Bank 3300 W. Sahara Avenue • Las Vegas, W 89 102 • 365-3460 @ !OUAli\OUS111G 5011 Meadowood Mall Circle • Reno, iV 89502 • 788-7106 LE N DER I: IN NEVADA

U.S. BANK Bringing banking innovation to Nevada

In less than a century, U.S. Bank, the bank that started as a small operation serving a West Coast frontier town has grown to a regional fmancial services organization with international scope ... still serving desert frontier towns. U.S. Bank's move into Nevada is a natural extension for the company. U.S. Bank has been in Nevada in the lending arena since the early 1980s. The most recent move into the Nevada mar­ ketplace, a new region for U.S. Bank branch offices, was viewed as an opportu­ nity to expand the products and services offered by U.S. Bank. "Nevada represents a natural extension of our market area," says Pete Landis, chief executive officer and president of U.S. Bank of Nevada. Landis is responsible for U.S. Bank's Nevada franchise, which includes 30 Th e new U.S. Bank ofNe vada's management team: (from left to right) Rick Whitsell ,John branches, commercial and real estate Wilcox, William Hyde , Pete Landis, Diane Torry, Thomas Groebe and Kenneth Ladd. lending, trust and other services. "Small business is a cornerstone here, steady rate which is very exciting," said products and services that economically new businesses are moving into Nevada, Landis. "We believe our products and suit the specific needs of individuals, there is an increase in the general pop­ services offer businesses and individual communities and businesses. ulation and Nevada is constructively consumers excellent benefits and options." U.S. Bank has an outstanding track pro-growth," says Landis. U.S. Bank of U.S. Bank of Nevada offers compre­ record of delivering fmancial services to a Nevada, now the third largest commer­ hensive banking and mortgage products broad spectrum of businesses and com­ cial bank in the state, has seen a steady that reflect the cultural and economic di­ munities in Oregon, Washington and Cali­ increase of new business customers since versity of the state. As partofU.S. Bank's fornia and will offer the same standard of the opening of its 30 branch offices in regionally managed structure, commer­ service in Nevada. Over the years, U.S. late September. cial lending divisions have been estab­ Bank has consistently worked with com­ · "We have already seen our commercial lished in both Reno and Las Vegas. Addi­ munities to improve economic conditions and consumer deposit base grow at a tionally, U.S. Bank has tailored fmancial and provide up-to-date services and prod-

14 Nevada Business Journal • November/December 1992 "TODAY, A BANK IS YOUR University Medical Center Affiliated with the University of Nevada School of Medicine FINANCIAL ADVISOR, LOAN OFFICER AND PARTNER. WE 383-2000 BELIEVE WE OFFER PEOPLE 1800 West Charleston • Las Vegas, Nevada 89102 • Nevada's Only Burn • General • Oncology Unit A CHOICE. WE'RE STRONG, Care Center Medical/Surgical • Neonatal Intensive • Pediatrics Care Unit WE'RE LOCALLY FOCUSED • ObstetricS/Gynecology • Outpatient • Neurological Unit • Cardiac Care Surgical Center • Trauma Unit • Organ Transplant • Critical & Intensive • Pediatric Intensive AND WE DEFINITELY WANT Program Care Units Unit TO DO BUSINESS." Nevada's Major Clinical Campus -. University of Nevada School of Medicine ucts. Changes in the banking industry UNIVERSITY MEDICAL CENTER have accelerated since the early days with each decade seeing more changes com­ QLHCNCARE' pressed into smaller periods oftime. U.S. Centers University Medical Center Bank has always been at the forefront of At The Lakes 1800 West Charleston 2760 Lake Sahara Drive these changes offering enterprising and Open 24 Hours 8 A.M. to 8 P.M. progressive services for customers. 383-2074 254-4900 U.S. Bank was the first bank to offer 4333 North Rancho 4333 Las Vegas Blvd. North personal loans, in 1929. The company (N. Rancho at Craig Rd.) (L. V. Blvd. N. at Craig Rd.) later initiated one-stop banking and drive­ 8 A.M. to 8 P.M 8 A.M. to 8 P.M. 1---+-1---f--l~~~~• up windows in the 1950s. With the advent 658-4507 644-8701 of computer technology, U.S. Bank was Pediatrician on duty 7 days a week the first to use electronic posting and one at UMC Quick Care • 1800 W. Charleston of the first to offer convenience-oriented Low Basic Charge automatic teller machines (A TMs) in the All Major Credit Cards & Insurance Accepted 1970s. Most recently, U.S. Bank has cre­ ated a stir among the banking institutions with the advent of its "Non-Fiction Bank­ ing" ad campaign. Local decision making and credit ap­ 24-hour multi-lingual telephone assis­ Bancorp is the largest fmancial services proval is a trademark of U.S. Bank's re­ tance; bilingual, multiple-network ATM company headquartered in the Northwest, gionally managed structure, one that services; checking and savings accounts; with assets of $21.1 billion as of Septem­ strengthens customer relationships and credit, lending and investment services; ber 30, 1992. Subsidiaries include U.S. emphasizes greater control at branch lev­ and diverse commercial banking prod­ Bank of Oregon, U.S . Bank of Washing­ els. "U.S. Bank has some very talented ucts and services for small and large busi­ ton, U.S.BankofCalifornia, U.S.Bankof bankers on our management team. Each nesses, government organizations and Idaho and U.S. Bank of Nevada. management committee member is an nonprofit groups. "Today, a bank is your fmancial advi­ experienced banker with deep know ledge U.S. Bank is a subsidiary of U.S. sor, loan officer and partner. We believe of the Nevada marketplace," says Landis. Bancorp, one of the largest fmancial ser­ we offer people a choice." says Landis. Products and services that are provided vices company serving Northern Califor­ "We're strong, we're locally focused and to U.S. Bank customers include toll-free, nia, theNorthwestandnowNevada. U.S. we defmitely want to do business."

Nove mberjl)ecember 1992 • Nevada Business Journal 15 Did Your Health ETNCO ASSISTS Care FIRST WESTERN BANK Dations WITH EXPANSION PLANS End First Western Bank is expanding- a significant accomplishment considering the changes in the local fmancial market When You and the effects of the national and local economies. Nevertheless, these changes have created a window of opportunity for Chose First Western Bank and E. Thomas Naseef & Co. (ETNCO), a ~ocal full-ser­ vice commercial real estate company. AHealth ETNCO is working with First Western ' Bank to locate sites for new branches. Several reasons make the time ripe for Care First Western's new expansion phms. While the population has exploded in Company? southern Nevada, First Western has not opened a new branch in the past 10 years. The bank had been concentrating its ef­ Choosing a health care company should be your first forts in other states. Though First Western opportunity to make decisions, not your last. Too many has 12 local branches, it had not taken health plans don't allow you the flexibi lity of choice. That's why you advantage of the new customer base, es­ should choose Blue Cross and Blue Shield of Nevada. pecially in northwest Las Vegas, Green Our PPO offers cost-effective, managed care options and Valley and Summerlin. the freedom to choose your own doctor. "With the sale of branches in Oregon For more information on the company that's been and Washington, we 're devoting our en­ ergies to updating our existing retail serving Nevadans for over 20 years, contact your broker branch network and strategic expansion or Blue Cross and Blue Shield of Nevada at 228 -2583. in the Las Vegas Valley," said Paul Wool­ In Reno call829 -4000. latt, First Western Bank's executive vice president in charge of retail banking and marketing. "Generally people conduct banking transactions at branches within a mile-and-a-half of their home or office Blue Cross Blue Shield so the branch network is very important." of Nevada Additionally, Woollatt said people seem to feel more comfortable with local Good Choice. banks. In southern Nevada, only a few local banks remain while several others Announcing have been purchased by national banking corporations. This year marks First West­ AzTEC Den\'er Museum of \aturalllistory ern Bank' s 40th anniversary serving ~ September 26. II.JI.J2 to Felmuoy 21. /I.JI.J3 southern Nevadans. •

16 Nevada Business Journal • November/December 1992 Form and function meet in the Elan Showcase Home by David Hofstede

Visitors to the Consumer Electronics The architect, Stephen Ball, has worked "We had to resubmit the plan, because Show in Las Vegas had two options if on many distinguished projects in his na­ Stephen put an extra 1700 square feet on they wished to view the state-of-the-art in tive California, including the homes of the house," said builder and developer home theatre and sound systems. They actress Geena Davis and the president of Bob Matthews. However, it was Mat­ could walk up and down a mile of corri­ Hollywood Pictures. He recently received thews' decision to start over, and though dors at the convention center, or drive a the American Institute of Architecture it caused a few additional problems he is little south and a little west to Sierra Vista A ward of Excellence for a home featured now happy with the result. Ranch Estates and peruse the ELAN on Lifestyles of the Rich and Famous. "We began in January of 1991 with this Showcase Home at 6980 Monte Rosa. This was his first project in Las Vegas. property, which had been developing in a The house is wired to the max with an "When I stepped in, there was a general 'spec-as-you-go' manner. The homes off elaborate but easy-to-use system that is plan for a lesser, tract-type house that had Tomiyasu Lane have a lot of character, the subject of a feature article in Audio/ already been approved, and they were just and the area is undergoing a nice revital­ Video Interiors. However, as one drives about to pour concrete," Ball remembers. ization. I looked again at what we were past a large center fountain on a stately His experience with high-end renovation doing, stopped the job and said this is not circular flagstone driveway, it is clear that and development was called upon to "build what should go here." Matthews hopped this 71 00-square foot Mediterranean-style in all the requirements of a luxury home, on a plane and showed the plans to Ball for ·villa is equally impressive with its audio and turn it into something that would get an opinion. "He said he'd throw away 95 and video turned off. the most out of the site." percent of it, so we did. Every room was

November/December 1992 • Nevada Business journal 17 H9MiS redesigned, the living room grew 30 per­ cent, and the master bedroom gained a 17- foot by 10-foot window." Ball approached the project as a re­ model, transforming 6980 Monte Rosa into a house that would not stand out negatively next to his previous designs in Bel Air and Beverly Hills. Six months of site visits and meetings with subcontrac­ tors followed what Ball described as an "intense" 60 days of work on plans and details. However, he gives much of the credit for the final result to Matthews. "There were lots of opportunities to cut a corner, but Bob wouldn't do it. The ulti­ mate success of the house is reflected in his desire to build it right." Among the highlights of the home is a formal sunken living room with marble­ faced fireplace and glass block celestory The 27-inch monitors on either side of the central projection screen of the home's windows, a formal dining room with cus­ "theatre" can, at the touch of a button, be used to vi c:;,w different programs, as well tom chandelier, a granite fireplace in the as images from any offour security cameras throughout the property. family room, a gourmet kitchen with top­ of-the-line appliances, custom cabinets or advertiser, which would provide the inch ProScan monitors. This allows for and granite counters, and an enclosed area kind of beneficial exposure that we could simultaneous viewing of three different in the all-marble master bath with water­ not get through normal brokerage tech­ programs, or for a check of the baby's fall, Jacuzzi tub, his and hers showers and niques." The SquareD opportunity was room where one of four security cameras steam/mist system. The backyard boasts a accessible because a sophisticated audio/ is mounted. A look at the front gate, front 70-foot pool with an Italian limestone video system was already on the drawing door or pool area can also be punched up patio balcony, flanked by two cabanas. board. "The materials and forms condu­ with one touch of the remote control. Designing the audio/video system was cive to good viewing and good sound For the audiophile, the Dolby Pro­ the assignment of Don Calley, whose com­ were already in place," said Ball. Logic sound is provided by a Lexicon pany Image and Sound had installed sys­ The ELAN equipment gave Calley the CP-1 processor, aided by three Wall­ tems for Robert Goulet and Diana Ross. ability to do far more with the house than speaker Technologies speakers up front, "The house was priced at $1.2 million originally planned. Working with Mat­ two pairs of ELAN speakers mounted in when we were first called in, but it kept thews and Square D, he redesigned the the side and rear walls, a JBL 18-inch growing and getting better," said Calley. system by adding 10 additional control subwoofer and an Audio Control Richter Current asking price: $2.2 million. zones to the six previously plotted, so that Scale ill equalizer. The system is pow­ Calley began preparing a home video independent, easy audio selection is pos­ ered by an MTX Soundcraftsman PM- and sound system. "I had been working sible from every room in the house. "We 860 amp rated at 600 watts mono, two with a firm called SquareD, and I brought are now able to access a CD player in one more MTX amps for the front and center them by to see the house. At the time, they of the cabanas, control it and listen to it in channels and a group of ELAN 100-watt had just released the ELAN system, but the master bedroom without interfering amps for the surrounds. The VCR and the no one had ever seen one in its proper with the rest of the house," Calley said. CD /laserdisc player came from RCA, the environment. The company was looking The centerpiece of the system and the receiver and cassette deck from Denon. for a home in which they could show their home is the family room, which may be The entire house is wired for sound manufacturing representatives and deal­ the most comfortable movie theatre in Las indoors and out through a total of 58 ers how the system was supposed to look." Vegas. A Mitsubishi 1202 projector shines speakers, controlled by 17 in-wall key­ During this time, Ball had suggested to crystal-clear images onto the 84-inch pads. A remote control not only selects Matthews that he should "do something Stewart powered screen, which is low­ and modulates the entire system, but also that would attract a national feature and/ ered from the ceiling in between two 27- lowers the drapes, dims the lights, adjusts

18 Nevada Business Journal • November/December 1992 H9Ma~S the room temperature and fires up the The cost of the system is approximately than furnishings. "In the last year, the fireplace. And if the phone rings while $150,000, but most other equipment in custom homes we've done had high-tech you're blasting Guns 'n Roses, the sound this league would cost far more, accord­ systems in them, so we've been forced to source will automatically mute so you ing to Calley. "This is the first time a become sophisticated in working with won't miss the call. system like this has been available. Be­ and alongside audio/video technology," Perhaps the greatest feature of this state­ fore ELAN, you would have to add an­ said Hicks. "It's still anew area, and since of-the-art set-up is its simplicity of use; other zero at the end of the price to match it puts restrictions on creativity, a lot of even technophobics who still can't pro­ what this stuff does." designers don'tlike to work init.ltcan be gram the VCR to tape All My Children The next step, interior design, would a struggle, but it's also rewarding." will have no trouble getting these keypads generally take eight months to one year on Each system has its own requirements, to work their magic-without reading 200 a house of this size and stature. Marteen - one of this caliber even more so since pages of instructions. Moore of Designs by Marteen and Jeffrey every room is included- thus making the It was hard work making life easy for Hicks oflnterior Design Consultants were balance of sound and sight an integral the prospective buyer, but Calley enjoyed given six weeks to complete the task. "It factor throughout the house. "People who the challenge. "Getting all the systems to was very difficult," said Moore, "we used spend that kind of money almost consider talk to each other was tricky; for instance, all our resources and friends in the trade to their interior furnishings secondary to the the drapes had to talk to the lights in a way get it done on time." equipment they install," said Hicks, "so that could be interfaced through the re­ Moore and Hicks were given free rein we have to work around that, and make mote so that all the operator has to do is to select colors and styles, but their choices changes that, from an aesthel'ic point of press a button. It was fun, but it was also were dictated by the awareness that the view, we normally wouldn't do." a lot of 20-hour days." spotlight would be on electronics more "The challenge," adds Marteen Moore, Take a Look Into Milgard Windows.

While we may be new in town, we're sure not new Our bright red logo also stands for something else. to the window business. In fact, we're the largest A promise that your Milgard window order will be window manufacturer in the West. delivered on time and in full. And now, we're building windows right here in Every day counts when you're building homes. So Las Vegas. we won't slow you down. For over 30 years builders and homeowners alike If you'd like to learn more about our extensive have demanded quality Milgard windows. And they selection of Aluminum, Vinyl and Wood window keep coming back, confident that if anything ever products, give us a call. We're just around the corner. goes wrong with a Milgard product we'll fix it for free. For as long as the original Milgard Windows homeowner owns it. Guaranteed. Call Randy Dodd, General Manager You can't make a guarantee like 453-1 234 that without the window to back it up. 40 N. Mojave Rd. , Las Vegas, Nevada 89116

November/December 1992 • Nevada Business Journal 19 H9!!~S

"is to follow the guidelines on choice of the Bill Mack original bronze sculpture carpet and fabrics (some of which absorb that separates the sleeping and sitting ar­ sound more than others) and the place­ eas. The furnishings and most accessories ment of furnishings around the center came from Milton Homer's Show Room point of the room where the sound and in Las Vegas. The 55 silk plants, ranging video are directed, and still make the from 10-foot palm trees to custom floral house look great." arrangements were supplied by Plant­ The approach, explained Moore, was to works, whose famous creations can be "create a very warm and comfortable at­ found from Switzerland to the atrium of mosphere, maintaining the Mediterranean the Mirage Hotel. feel of the house, but with a neutral, mono­ ELAN's lease with its showcase home chromatic background, something that expires on March 1, and whether all the would appeal to a wide variety ofprospec­ equipment stays beyond that date will be tive buyers." Peach tones were used to up to the buyer. But since almost every compliment and draw out the wood floor­ aspect of the house is designed around the ing. The library contains a ceiling-to-floor system, Calley believes it would be a cherry bookcase, rolling ladder and vaulted shame if it were removed. "This is defi­ cherry ceiling. nitely an entertainment home. People can Moore wanted the art and accessories to buy a bigger house for the· asking price, stand out, from the New York skyline Custom-built component rack houses but you're not going to fmd one with this. backdrop on the master bedroom blind to the ELAN home' s brain center. much technology and quality inside." •

Nevada's largest supplier of custom designed interior plantscapes takes pride in furnishing the silk plantings for the ELAN™ SHOWCASE HOME 6980 Monte Rosa

Linda Lewis, company president, Sierra Vista Ranch Estates • Las Vegas at Plantworks' 1989 installation for the Mirage Hotel ~ ~ ~ Plantworks welcomes visitors to our showrooms in Reno and Las Vegas 940 Terminal Way • Reno • 702-322-5001 3850 W. Tropicana Ave. B • Las Vegas • 702-795-3600

20 Nevada Business Journal • November/December 1992 by William f. Rossman

In recent months, small Choosing the right bank businesses have been compet- for your business ing very effectively in the marketplace, generating new The current competitive environment small business owners should be on the among banks for small business patrons lookout for in a lending institution and an jobs for the economy. can serve the small business owner quite account officer: well. Because small business owners now • Willingness and ability to under­ have more banks to choose from, it is stand your business; As a result, banks across the important that they take the time to look • Willingness to make periodic visits for an institution that meets their needs, to your company to ensure that your one that is interested in their business. relationship continues to be of a If you are a small business owner, try to high-quality nature; country are now paying more fmd a bank that enjoys low turnover • Ability to offer a quick response to among its account officers. Also, be sure your loan requests; that the bank's account officers are avail­ • Willingness to arrange appoint­ attention to the small business able to you upon request. These features ments that are convenient to your in a lending institution will enable you to schedule, not just to that of your build a relationship - not just a passing account officer's; sector than ever before. association- with your account officer. • Experiences low degree of turnover Be proactive in selecting the bank that among account officers; is best suited for your needs. Today, many • Exhibits a sense of urgency in serv­ banks are segmenting the small business ing the small business market; market into specialized areas such as • Exhibits a familiarity with all small medical, manufacturing and service. By business programs that are avail­ fmding a bank that specializes in your able, either through the local mar­ type of business, you may be able to get ketplace or through government higher quality service. programs such as the Small Busi­ Besides offering quality service, be ness Administration. • sure your bank is responsive to your needs - that it shows a sense of urgency to perform a good job for your business. As William]. Rossman is president and chief your business grows and prospers, so spokesman of Robert Morris Associates should your relationship with your bank (RMA), and president and CEO of Mid­ and banker. Ultimately, you and your State Bank and Trust Company, Altoona, lending institution should seek a mutually PA. RMA is a Philadelphia-based, not­ beneficial, long-term relationship. for-profit banking trade group for com­ In summary, here are seven traits that mercial/ending personnel.

November/I)erember 1992 • Nevada Business journal 21 by K. Michael Spuhler

Many investors tend not to take U.S. savings bonds Four reasons to consider seriously, but perhaps it is time for the perception to U.S. savings bonds now change. Interest rates, hover­

ing at roughly four percent, When compared to their irlvestment $30,000 per couple per year if spouses counterparts, U.S. savirlgs bonds currently purchase bonds joirltly). are lower than they have been offer more attractive rates as well as a host You have a great deal of choice with other advantages. Here are four reasons to respect to how long you hold your irlvest­ in years. Current rates on give U.S. savirlgs bonds a closer look. ment. You may lose some accrued irlter-· est if you redeem a savirlgs bond withiri· FAVORABLE RATES five years, but your prirlcipal is protected. most certificates of deposit, The variable irlterest rate on Series EE Suppose you were to purchase a savings savirlgs bonds is adjusted every six months bond today. In six months, for example, money market funds, Treasury and is equal to 85 percent of the prevailirlg you could contirlue to hold your irlvest­ average yield of five-year Treasury notes. ment,orredeemitandinvestyourmoney bills and many other income­ As of June 1, 1992, the rate was 5.58 elsewhere. You could base your decision percent, which is well ahead of short-term on market conditions and your irivest­ irlterest rates. ment objectives without havirlg to thirlk oriented instruments leave Further, Series EE bonds have a guar­ about a maturity date or loss of principal. anteed mirlirnum annual rate of six per­ Series EE bonds contiriue to earn irlterest much to be desired. cent if held for at least five years. You for 30 years from the issue date, even if receive no less than six percent annual they reach face value iri less than 30 years. return on your irlvestment at redemption after five years -even if the irlterest rates SAFETY stay below six percent. U.S. savirlgs bonds are direct obliga­ Should you need access to your money tions of the federal government and are sooner, you will receive a guaranteed mirli­ backed by its full faith and credit. It is mum annual return of 4.16 percent at six highly unlikely that the federal govern­ months. The rate gradually irlcreases with ment would renege on debt obligation, so the holdirlg period. savirlgs bonds are considered among the safest irlvestments available. FLEXIBILITY Series EE bonds are available iri face TAX ADVANTAGES values rangirlg from $50 to $10,000. The Interest earned on U.S. savirlgs bonds is purchase price is half the face value, and exempt from state and local irlcome taxes. you receive prirlcipal and irlterest at re­ And you have considerable flexibility as demption. One investment restriction: to when Series EE savirlgs-bond irlterest Individuals may invest no more than is taxed at the federal level. You may pay $15,000 iri Series EE bonds per year (or taxes on the irlterest accrued annually,

22 Nevada Business Journal • November/December 1992 even though you do not receive the inter­ be less than $44,150 per year if single est until redemption. Or you may defer If you purchase Series EE bonds ($66,200 for couples who file a joint tax taxes for up to 30 years or until redemp­ return) to receive the full exemption. The tion, whichever comes first. exemption gradually phases out for inves­ You can even extend the deferral period and use the redemption proceeds tors with higher AGis. The bonds must be to 50 years if you exchange Series EE issued in your and/or your spouse's name bonds for Series HH bonds at 30 years. if the student is your dependent child. And (Note: You cannot defer federal taxes on to pay for college tuition, you may you must redeem the bonds during a year the semi-annual interest you receive from when you pay college tuition. Consult Series HH bonds. Only the interest ac­ your fmancial advisor for complete infor­ crued from the Series EE bonds may be avoid federal income taxes on the mation regarding this exemption. tax deferred. Your fmancial advisor can U.S. savings bonds are convenient to help you determine which strategy is more purchase and redeem; they are secure, and appropriate for your situation.) interest altogether. You must satisfy offer attractive advantages. And in today' s If you purchase Series EE bonds and low-interest-rate environment, they are use the redemption proceeds to pay for earning respect from investors as a sound college tuition, you may avoid federal several requirements to qualify and smart investment alternative. • income taxes on the interest altogether. You must satisfy several requirements to qualify for this exemption. For example, K. Michael Spuhler is a tax partner with your adjusted gross income (AGI) must for this exemption, however. the firm KPMG Peat Marwick

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Small Business Administration Financing businesses during credit-tight times

Throughout these times of recession, mate all foreseeable costs until your busi­ • Collateral requirements include one bank mergers, stringent credit standards ness breaks even, including projections or more of the following: a mortgage on and severe banking regulations, businesses for tenant improvements, equipment, sup­ personal assets or business real estate, are fmding the Small Business Adminis­ plies, permits and working capital. security interest in equipment, inventory tration (SBA) loan program increasingly Structure your loan proposal. Occa­ or receivables, and a personal guarantee attractive as a vehicle for financing not sionally a project fits the criteria of more of the principals. available by conventional terms. than one SBA loan program. When this Many lending institutions will offer t'o Small businesses may receive funding happens, lenders compare different loan package your SBA loan application in­ for the acquisition of real estate, equip­ structures, including rates and fees, so house. Investigate their experience and ment or working capital through loans that you can evaluate which program best status as an SBA lender. guaranteed by the Small Business Ad­ suits your business. When deciding who should structure ministration. Minimum loans are gener­ Compare the rates, terms, collateral re­ your loan proposal, consider whether pre­ ally $50,000, but may vary from lender to quirements and estimate approval time qualification is available. Often banks offer lender, while the larger loans can go as offered by all lenders under considera­ a pre-qualification service to establish a high as $3 million. Down payments vary tion. While you're doing this, remember: potential applicant's SBA eligibility and from around 10 percent on real estate to • Interest rates on SBA loans are tied fmancial ability to service the loan. Pre­ 35 percent or more on start-up projects. to the prime rate, and adjusted monthly or qualification is performed before enter­ SBA guaranteed loans involve the ap­ quarterly. ing into the formal loan application. This plicant, a lending institution and the SBA. • Maturities depend on purpose, and gives the small business person an oppor­ The SBA guarantee means if the appli­ generally are between five and ten years tunity to get feedback about the strong cant defaults on the loan, the SBA will for working capital or equipment, and 25 and weak points of his/her project. be responsible to the lender for usually 75 years for real estate loans. As with any project for your business, percent to 90 percent of the loan amount, • SBA guaranty fees typically do not thorough planning is essential. SBA fi­ or up to the maximum of $750,000. exceed two percent of the guaranteed por­ nancing is an option to consider which not If you decide to apply for SBA-backed tion of the loan. only allows longer terms than are gener­ fmancing, you will need to follow these • If you partially prepay the loan, it is ally available under commercial bank loan suggestions: automatically re-amortized over the re­ programs, but also may save you money Identify your needs. Before you look maining term. There are no penalties for in the long run. for fmancing, estimate the total cost of prepaying working capital loans. For more information about Small Busi­ your project. If you want to buy real • The SBA has a 20-year fixed rate, ness Administration loan programs, con­ estate, determine what it may cost to get second mortgage program that includes a tact your local SBA loan office. • the type of building your firm needs. If prepayment penalty if the loan is prepaid you anticipate buying a facility that re­ within the first 10 years. With variable Regina Dunbar is assistant vice president quires renovation, determine these costs rate programs, the loan may be paid in full branch manager of Truckee River Busi­ also, and the SBA may fmance 90 percent or in part three weeks after notifying the ness & Industrial Development Company of the total. For start-up fmancing, esti- lender without penalty. (Truckee River Bank).

24 Nevada Business Journal • November/December 1992 Plan Ahead A little foresight goes a long way toward achieving an efficient cost-effective workplace

Planning a productive, efficient office must be considered as well as actual cost. account during the planning process. environment takes just that: planning. Job Functions. Office requirements Health/Safety Issues. Recycling, air Although there is a seemingly endless can differ from industry to industry, de­ quality, power supply, pollution, just to number of issues to consider, the Interna­ pending on the job functions of the work name a few, are important issues for com­ tional Facility Management Association force. Look at the responsibilities of the panies to consider. All purchasing, reno­ (IFMA), a professional association of fa­ work force. Does close work, such as vation and i'elocation decisions should be cility managers, recommends reviewing reading, writing or drawing, take up a made with environmental impact in mind. several areas before making any long­ major portion of employees' time? If so, Companies must comply with legislation term decisions: special attention to lighting is essential. aimed at regulating waste disposal, haz­ Business Strategy. Where is your com­ What percentage of employees are con­ ardous substances, indoor air quality, pany headed in the next 10 years? Does sidered heavy computer users - working video display terminal (VDT) usage, etc. the company intend to double or triple in on computers at least five hours a day? Keeping abreast of new legislation that size? Will an office relocation be neces­ These employees may have special seat­ affects the workplace is critical and may sary? The office environment needs to ing requirements, may require task light­ help avoid costly legal actions. work in tandem with the long-term direc­ ing, glare screens, etc. Analyzing job Employee Expectations. In addition to tion of the company. These questions functions enables resources to be allo­ becoming more aware of the ergonomic need to be addressed and incorporated cated according to need and can reduce advantages of some office furniture, into the planning process. Aligning the unnecessary expenditures. many employees are becoming more so­ facility plan with the company's strate­ Telecommunications and Computer phisticated and articulate about their gic plan reduces the possibility of unex­ Needs. More office workers are using needs. They expect a quality work envi­ pected changes in direction and ulti­ computers than ever before, according to ronment and are concerned about every­ mately gives more control over the office the 1991 Worldwide Office Environment thing from noise control to proper lighting environment. Index (WOEI), a study conducted by to VDT -related health issues. These is­ Cost Factors. This does not strictly Louis Harris and Associates. Eighty-five sues need to be anticipated and addressed refer to the purchase price of furniture, percent of office workers in the United proactively. Planning ahead can save a equipment, etc. Costs must be weighed States now use a personal computer or great deal of time and money down the against quality, product longevity and terminal at work, up from 78 percent in road. Quality office environments are flexibility. A workstation, for example, 1989. The study also found that among also a proven way to attract and retain a that can be easily moved from office to these workers, 33 percent use a computer high quality work force. With the edu­ office, has add-on options, and can ac­ five or more hours a day. Furniture that cated work population decreasing in size commodate a variety of computer-related can easily accommodate computers and while increasing in age, companies have a equipment, may be more cost-effective associated wiring and cabling, space for vested interest in providing quality work than a lower-priced workstation when new equipment, employee comfort (seat­ environments. A number of studies, in­ amortized over the product's projected ing, adjustable keyboard height, etc.), and cluding the WOEI, directly link produc­ life span. Flexibility and adaptability proper lighting, all need to be taken into tivity to the office environment. •

November/December 1992 • Nevada Business journal 25 Entrepreneurs form business opportunities firm

David Ehlers, a fmancial consultant and securities broker, recently announced the formation of Swift Business Opportu­ nities Mergers and Acquisitions. The new firm pools the talent of four Las Vegas executives and offers a conduit to tap the Nevada business and investment opportunities that abound in the rapidly growing region of Briefs southern Nevada. In the new company, Ehlers combines his fmancial expertise with the knowl­ Donald Snyder edge of local real estate agent Vickie Pieper, securities expert and real estate Snyder appointed charitable and civic activities in Nevada agent Don Wiemer and computer special·­ and Southern California. He is a member ist Roland Hughes. • to Harvey's board of the board of directors for Tropitone Ehlers' history in the fmancial world is of directors Furniture Manufacturing Company, one long and distinguished. During his tenure of the country's largest manufacturers of with the Gibralter Growth Fund, the firm Harvey's Resort Hotel/Casino, Lake premium patio and casual furniture and was the number-one performing mutual Tahoe, recently announced the appoint­ has agreed to join the board of directors of fund in the world. At one time, the fund ment of Donald Snyder to the company's a national bank which will open a major possessed a 20 percent world market board of directors. operation in southern Nevada in the next share of no-load fund and mutual fund Snyder, 45, served as chairman of the few months. sales. The August 1976 issue of Finance board and CEO of First Interstate Bank of Snyder serves as the immediate past World listed Ehlers in its annual survey Nevada from 1987 until resigning in 1991 chairman of the board for United Way of of the "Top Ten U.S. Brokers" as the to form Strategic Associates, a consulting Southern Nevada and is current chairman largest retail securities broker in the na­ and investment management company. In of Nathan Adelson Hospice and of the tion. Ehlers has also founded and devel­ addition, Snyder has formed Graphic En­ Nevada Chapter of Young Presidents Or­ oped the Blockbuster Video franchises in terprises, Inc. in order to purchase the ganization. He also serves on the boards Hawaii, Guam and Colorado. southern Nevada development rights for of the UNLV Foundation, Tournament Most recently, Ehlers began publishing AlphaGraphics, an international printing Players Club at Summerlin and the Ne­ the newsletter Key to Las Vegas, which company. vada Governor's Advisory Council on contained articles discussing the continu­ Snyder has also served as a director of International Business. ing potential for future development in First Interstate Bank of Utah and a mem­ Snyder graduated with honors from the the area. The response to his newsletter ber of the executive managing committee University of Wyoming with a bachelor was so positive, it became the catalyst for of First Interstate Bancorp, Los Angeles. of science degree in business administra­ forming Swift Business Opportunities During his 22 years with First Interstate, tion, and completed the Graduate School Mergers and Acquisitions. he held various management positions in of Credit and Financial Management at Local real estate agent, Vickie Pieper, retail and corporate banking, served in Stanford University. He has been married contributes her varied knowledge of the senior management for international for 21 years and has three children. southern Nevada real estate market to the banking and had senior executive respon­ "I have a high regard for Harvey's- not new partnership. She has handled a wide sibility for all California real estate bank­ only what it is today but also the history of range of properties - from home sales to ing activities prior to moving toNevada in the organization," Snyder says. "I am large commercial projects. At one period 1987. A resident of Las Vegas, Snyder is pleased to be a part of it and I think I can in her career, Pieper specialized in listing actively involved in numerous business, help lead them into an attractive future." and selling hotel and motel properties.

26 Nevada Business journal • November/December 1992 She was also a sales agent for the presti­ gious Spanish Trail Golf and Country Club and was marketing sales director for Canyon Gate Country Club New Homes Division. Pieper was also owner/ broker of her own real estate company. You can stay in constant touch with your office, your clients, your suppliers. Don Wiemer has been in the securities And your competitor can't That's an advantage. business since 1970. He lists his specialty It's the advantage Centel Cellular can provide for you and your business. in the "block trading department" which Here are some others: handles large institutional accounts. He • Rates that are up to 25%lower than any others in Southern Nevada owned his own successful telemarketing finn before becoming associated with • No charge for ring time, busy signals or no answer Swift Business Opportunities Mergers and • Service to the state line, Moapa Valley and Laughlin Acquisitions. • Interest-free financing for up to 12 months (with approved credit) Roland Hughes was brought into the • Free installation at your home or office (with new phone purchase) group because of his computer expertise, Gain the upper hand. Call or visit today for more information as well as his experience in several busi­ nesses in Canada. He has been involved in on putting the Centel Cellular advantage to work for you. the computer industry for over 30 years. CENTEL CELLULAR Computer City 893-8100 opens SuperCenter Administration Sales- 4022 S. Industrial Rd.- Las Vegas, Nevada 89103 Computer City, the fastest growing Sales- 3420 W Spring Mountain Rd.- Las Vegas, Nevada 89102 computer superstore chain in the nation, Centel Cellular Sales also located inside Union Premiums. has opened a new SuperCenter in Las Centel Cellular Authorized Agents: Vegas-its 17th location worldwide. The All U1s Vegas Bizmarts 25,000-square-foot superstore is located Saturn of West Sahara 252-8900 All U1s Vegas Radio Shacks Southwest Car Stereo 384-1331 in the Westland Fair Shopping Center at American Cellular 87G-7808 Stereo Plus 876-4434 Decatur and Charleston Boulevards. Best Telephone 382-4668 In Boulder City: "With the opening of our Las Vegas CEI 873-5000 Foxhouse Boutique 294-4120 SuperCenter, we are expanding our suc­ Executive Car Audio 368-6411 cessful concept rapidly in major markets Frontier Radio 871-6166 In Bullhead City: throughout the United States. We now Herda's Appliance 737-1045 Sound Chamber 758-8555 operate 15 domestic SuperCenters, and will continue our aggressive plan to open 12 to 15 new SuperCenters each year in A business sales group serves the cor­ the United States," said Computer City porate, government and education mar­ New manufacturing President Alan Bush. Other locations an­ kets with pricing, availability and ship­ nounced to date include St. Louis and a ping information. Commercial accounts facility selects site second store in Baltimore. and leasing programs are also available. in Las Vegas Computer City is the only computer An on-site technical support center pro­ superstore chain authorized to sell vides a full range of services, including A new manufacturing facility is open­ America's six leading brands of personal system configuration, installation and ing in Las Vegas that will provide tech­ computer products- Apple, AST, Com­ maintenance. nology and hardware for the international paq, Hewlett-Packard, ffiM and Tandy. Computer City is a division of Com­ gaming and lottery industry. Las Vegas The superstore format allows Computer puter SuperCenters International, Inc., Investment Group, Inc. (L VIG, Inc.) trade · City to offer a large variety of computer a wholly-owned subsidiary of Tandy name "SPORTS LINR", is a consortium and home office products. Corporation. of companies to be headquartered in Las

November/December 1992 • Nevada Business Journal 27 Vegas. It is compiling an advanced team because the location allows for easy for­ of electronic and computer/communica­ warding of parts and supplies to the West tions technicians, software developers, Coast and points as far east as the Mis­ computer specialists and manufacturing souri River within three days or less via assembly line personnel. By 1993, the ground delivery. Additionally, its close facility plans to employ 300 assembly­ proximity to a new UPS sorting facility line personnel and technicians. makes supply movement very convenient. SPORTS LINR has the ability to pro­ "The UPS materials distribution center vide complete turnkey sports wagering is a key tenant in our third building at the and sports lottery systems and hardware Vista Distribution Center," said Mike The new Poggemeyer Design Group's to lottery and wagering authorities and Hewson, general manager of UPS Prop­ western regional headquarters licensees worldwide. erties, Inc., owners of Vista Distribution In Nevada, the implementation of a true Center. "As the center continues to attract efits," Higginson said. "We are pleased to on-line sports wagering program allow­ vendors who work with UPS, the Sparks welcome one of the nation's largest engi­ ing off-book betting (OBB) - similar to area will grow and benefit." neering firms into the Las Vegas Technol­ off-track betting - on sporting events UPS Properties, Inc. is a wholly-owned ogy Center." would add to the tax revenue of the state subsidiary of United Parcel Service cre­ Poggemeyer Design Group has eight substantially. Gaming Control Board ated to develop industrial real estate. UPS offices throughout the West and Mid­ Regulation 26B provides for this pari­ Properties, Inc. counsels tenants and po­ west, and is well known locally for its mutuel sports wagering ability in Nevada. tential tenants on every aspect of ware­ work on the Gowan Detention Basin, the In addition to providing the technology house development including design, lo­ Downtown Transportation Center, the required for sports lottery and wagering cation, construction and funding. Green Valley Parkway bridge, Lake Mead systems nationally and internationally, UPS, the parent company of UPS Prop­ Boulevard, the Thomas T. Beam engi­ L VIG, Inc. also produces the player ter­ erties, Inc., is a worldwide company serv­ neering building, the Officer's Club at minals for both products. ing all 50 states and more than 180 coun­ Nellis AFB, and the clubhouses at the "The growth of gaming and lotteries tries and territories. With revenues of $15 Legacy Golf Club and Spanish Trail Coun­ worldwide and our company's expertise billion and volume of2.9 billion packages try Club, as well as 22 Marriott Court­ and proprietary hardware will provide not and documents in 1991 , UPS is the largest yards throughout the U.S. only rapid growth for our company, but package distribution company in the At the Las Vegas Technology Center, also immediate installations for gaming world. Both UPS and UPS Properties, Poggemeyer's new office complex will and lottery authorities worldwide," states Inc. are headquartered in Atlanta. become the first free-standing structure to Matt Matson, president of LVIG, Inc. be built by and for a consulting engineer­ "Las Vegas was chosen as the headquar­ ing firm in the park. The building will be ters because of its favorable manufactur­ Poggemeyer 8,871 square feet and be used by approxi­ ing conditions and its worldwide promi­ breaks ground mately 25 employees. nence as the gaming capitol of the world." The Las Vegas Technology Center was Twelve shovels hit the dirt when Mayor conceived in 1986 as a 30-year project to Jan Laverty Jones, City Councilman Scott bring light industry to a highly residential UPS opens new Higginson, and the principals of Pogge­ area. The plan aimed to reduce city traffic distribution center meyer Design Group, Inc., Engineers, congestion, gas consumption and air pol­ Planners & Surveyors, broke ground for lution as well as reduce commuting time. United Parcel Service has opened a the finn's new western regional head­ The center became operational in the major internal parts and supply distribu­ quarters. The office complex will be built Spring of 1991 and is now home to such tion center in 55,000 square feet ofleased in the Las Vegas Technology Center. industries as Lora! Aerospace, MAC Print­ warehouse space within the 102-acre Vista The ground-breaking marked the for­ ing and Northwest Las Vegas postal ser­ Distribution Center in Sparks. The new mation of a partnership of public and vice. In addition, Brookhollow Proper­ facility will utilize state-of-the-art tech­ private interests to develop the Technol­ ties, developer of over 40 acres of prop­ nology to process over 5,500 supply and ogy Center into a hub of high tech indus­ erty in the center, has completed the first parts requests per day and will employ try in Las Vegas. of four phases for its master-planned more than 50 people. "When the public and private sectors 100,000-square-foot multi-tenant build­ Officials opened the center in Sparks work together, the entire community ben- ing and light industrial space. •

28 Nevada Business journal • November/December 1992 IF YOU j DON'T ~NT TOKNO THE TRUTH, TURN THE PAGE.

Truth is, you can offer a quality health care plan, without sacrificing the individual needs of your employees. And the truth is, it isn't magic. It's hard work on our part. But the results are worth it- and you don't need to receive big rate increases. For the truth about health care insurance costs, call your broker or a Nevada Sierra Health & Life representative. Southern Nevada 702-646-8350 Northern Nevada 1-800-477-4542

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NBJ- 2 business indicators & analx.sis

he national economy usually recovers from a recession with NEVADA TAXABLE SALES a swift and strong upward push. But since hitting the bottom 1115·1tl82 in the first quarter of 1991, the national economy has experi­ enced a weak recovery. Inflation-adjusted Gross Regional $4 I Product (real GDP) has increased by only 2.0 percent during the last flve quarters. The current level of real GDP is still below the pre­ recession peak. In addition, job growth has been meager. Indeed, the S3 unemployment rate (one of the most important measures of economic performance) has continued to increase. To be sure, employment gains often lag other variables during an economic recovery. Yet, the national S2 unemployment rate has remained well above seven percent (7 .5 percent in August, 1992 on a seasonally-adjusted basis). The continuation of unemployment in excess of seven percent during 1992 has eroded S 1 consumer confidence in_economic growth prospects. The University of Michigan Surveys of Consumers have revealed that just one in four consumers currently believes the economy is improving. Consequently, a weak recovery from the recession has dampened expectations. And dampened expectations have further slowed the economic recovery. NEVADA GROSS GAMING REVENUE Faced with the national economy's weaknesses and with pessimism HI U - 11t2

about current affairs, however, most continue to believe that the year $8ll 11on ahead will be better than the past year. That is, most assign a higher $ 1.6 probability to economic expansion than to contraction. Yet, the major $1 .4 concern remains that the pace of the current improvement will be too slow to avoid further adverse employment effects in the months ahead. S1.2 The anemic state of the national economy and the contagious effects of the prevailing pessimism of Americans have weakened the Nevada economy. During the last year, Nevada's unemployment rates have drifted upward. Just a year ago, the reported national unemployment rate was 1.4 percent higher than the Nevada unemployment rate. As of August, 1992 this difference has declined to 0.3 percent. Thus, as the nation's pale growth has lingered, adverse circumstances have been planted in other regions of the country which were economically robust. As a consequence, Nevada's economic indicators have come to look more like the national indicators. 1$815 1U7 1888 1181 11111 0 1181 1tt2 Recent national surveys of consumer and business confidence have AIR PASSENGERS revealed weaknesses. Yet, some key Nevada indicators point to a 188 11 - 11182 possible recovery for the Silver State. Nevada Taxable Sales (up 6.33 percent) and Gross Gaming Revenue (up 9.87 percent) showed marked improvement over year-ago levels. Also, residential construction activ­ ity as reported by the number of permits shows advancement for both Las Vegas and Reno Metropolitan Areas. Since residential construc­ tion is among the most unstable expenditure categories, double-digit percentage increases foretell increased future expenditures. These increases represent a turn in events and a signal of possible improve­ ment in Nevada conditions. Of course, a continuation in recent im­ provements will be necessary before full confidence returns about Nevada's future. But, if this occurs, Nevada's recovery could happen prior to and with greater vitality than the nation's corresponding upturn.

R. Keith Schwer, UNLV Center for Business & Economic Research liST 11118 1018 1880 1U 1 1112

30 Nevada Business Journal • November/December 1992 LATEST PREVIOUS YEAR CHANGE DATE UNITS PERIOD PERIOD AGO YRAGO UNEMPLOYMENT Nevada Aug, 1992 seasonally adj. 7.2 7.0 5 .3 35.85% Los Vegas Aug, 1992 seasonally adj. 7.0 7.3 5.4 29.63% Reno Aug, 1992 seasonally adj. 7.2 7.0 4.5 60.00% u.s. Aug, 1992 seasonally adj. 7.5 7.6 6.7 11.94% RETAIL ACTIVITY Nevada Toxoble Soles July, 1992 $thousand 1,269, 105 1,325,860 1,193,568 6.33% Clark County July, 1992 $thousand 732,774 741 ,659 680,416 7.69% Washoe County July, 1992 $thousand 236,081 250,068 230,317 2.50% U.S. Retail Soles Aug, 1992 $million 159,728 160,582 153,853 3.82% GROSS GAMING REVENUE Nevada July, 1992 $thousand 528,140 457,015 480,697 9.87% Clark County July, 1992 $thousand 381,352 328,630 334,018 14.17% Washoe County July, 1992 $thousand 83,624 77,631 77,570 7.80% CONSTRUCTION ACTIVITY Los Vegas Area New Residences 3rd qtr 1992 #permits 2,777 2,543 2,424 14.56% New Commercial Permits 3rd qtr 1992 #permits 123 122 229 -46.29% Reno Area New Residences 4th qtr 1991 #permits 276 445 232 18.97% New Commercial Permits 4th qtr 1991 #permits 15 87 67 ·77.61% u.s. Housing Storts Aug, 1992 thousand 1,237 1,120 1,053 17.47% Totol Construction July, 1992 $billion 422.0 424.4 397.0 6.30% HOUSING SALES Los Vegas Area Average Soles Price Ill 1st qtr 1992 $ 129,421 140,622 133,007 -2.70% Average Cost/Square Foot 1st qtr 1992 $per sq. ft . 71 .35 81 .58 79.29 -10.01% Average Mortgage Rote !21 1st qtr 1992 % 8.49 8.63 9 .16 -7.31% Washoe County Average Soles Price 111 4th qtr 1991 $ 156,370 147,328 143,935 8.64% Average Cost/Square Foot 4th qtr 1991 $per sq . ft . 83.63 83.03 78.58 6.43% Average Mortgage Rote 121 4th qtr 1991 % 8.50 9.20 9.80 -13.27% U.S. Home Soles July, 1992 thousand 563 578 505 11.49% TRANSPORTATION Total Passengers 131 McCarron Airport, LV 2nd qtr 1992 passengers 5,232, 158 4,924,977 5,167,482 1.25% Connon Airport, Reno 2nd qtr 1992 passengers 851 ,176 906,762 801,121 6.25% State Toxoble Gasoline Soles July, 1992 thousand gal. 61,303 58,027 61,192 0.18% POPULATION ESTIMATES Nevada July 1, 91 people 1,296,360 1,236,990 4.80% Clark County July 1, 91 people 817,450 770,280 6.12% Washoe County July 1, 91 people 262,900 257,120 2.25% NATIONAL ECONOMY Consumer Price Index 141 Aug, 1992 1982-84= 100 140.9 140.5 136.6 3.15% Money Supply - M 1 Aug, 1992 $billion 973.6 960.8 866.5 12.36% Prime Rote Sep, 1992 % 6.0 6.0 8.5 -29.41% Three-Month U.S. T-Bill Aug, 1992 % 2.97 3.14 5.25 -43.43% Gross Notional Product 2nd qtr 1992 $billion 5,902.2 5,840.2 5,657.6 4.32%

NOTES: (1) houses, condos, townhouses; (2) 30 yr. FHA; (3) enplaned/deplaned passengers; (4} all urban consumers SOURCES: Nevada Dept. of Taxation; Nevada Employment Security Dept.; UNLV, Center for Business and Economic Research; UNR, Bureau of Business and Economic Research; US Dept. of Commerce; US Federal Reserve. COMPILED BY: UNLV, Center for Business and Economic Research

November/December 1992 • Nevada Business Journal 31 rr rr; COI~~Jll~ H~' l /\ l /\I I :/\NI"