News Briefs | Week of Nov. 4
Meadows Bank, headquartered in Las Vegas with two branches now in Reno, posted a net income of $6,49 million in the first nine months of 2016 up 10 percent from $5,88 million during the same period in 2015.
Others highlights from the financial institution’s third quarter report included:
Loans increased by 20 percent or $95.3 million from Dec. 31, 2015, to $561.4 million on Sept. 30 of this year.
Deposits totaled $554.2 million at the end of day on Sept. 30, which was 21 percent higher than prior years end.
Assets totaled $650.4 million at the end of day on Sept. 30.
Newmont Mining Corp.
Newmont Mining Corp. has completed the sale of its ownership stake in PT Newmont Nusa Tenggara, which operates the Batu Hijau copper and gold mine in Indonesia, to PT Amman Mineral Internasional. The asset’s name now changes to PT Amman Mineral Nusa Tenggara.
Newmont received total consideration of $1.3 billion for its 48.5 percent economic interest in PTNNT. This amount is comprised of gross cash proceeds of $920 million and contingent payments of $403 million tied to higher copper prices and any future development of the Elang deposit. Nusa Tenggara Mining Corp., majority owned by Sumitomo Corp., also sold its 24.5 percent ownership stake to PTAMI.
The Reno law office of Littler, an employment and labor law practice representing management, has earned a “Tier 1” ranking in the 2017 U.S. News – Best Lawyers seventh annual “Best Law Firms” list.
Littler was recognized in the Employment Law – Management and Labor Law – Management categories.
The firm also earned “Tier 1” rankings in 37 additional metropolitan areas, as well as nationally in: employment law – management, labor law – management, and litigation – labor & employment.
Fennemore Craig, a law firm, with an office in Reno, earned a National Tier 1 rating in the 2017 U.S. News – Best Lawyers seventh annual “Best Law Firms” list.
The firm received metropolitan rankings in Reno for the following practice areas: commercial litigation, construction law, employment law – management, government relations practice, labor law – management, government relations practice, labor law – management, litigation – labor & employment, litigation – real estate, and real estate law.
Lewis Roca Rothgerber Christie LLP
The law firm Lewis Roca Rothgerber Christie LLP with an office in Reno, earned national top tier recognition for its commercial litigation, banking and finance litigation, real estate litigation and trademark law practices in the 2017 U.S. News – Best Lawyers seventh annual “Best Law Firms” list.
The firm’s Reno office earned metropolitan area Tier 1 rankings in commercial litigation and gaming law.
The Reno-Sparks Convention & Visitors Authority (RSCVA) released its room tax and occupancy statistics for September. The report is now available at the following link: http://www.visitrenotahoe.com/about-us/finance-accounting.
Lee & Associates
Lee & Associates, a full-service commercial real estate organization, has opened a South Reno location at Suite 116 of the Mountain View Corporate center located at 5595 Kietzke Lane to accommodate growth in both personnel and client servicing.
Ticor Title Company of Nevada, Inc. is excited to announce that they have opened an office at 65 McCart Street, Suite 102 in Fernley.
Escrow officers Dani Northington and Monica Castro have joined the new office in Fernley, which will provide title and escrow services for Churchill, Lyon, and Storey counties.
Noble Studios has become a Google Tag Manager Certified Partner, as a part of the new Google Tag Manager certification program.
Noble is now one of the fewer than 50 Google Certified Partners in the United States to hold certifications in both Analytics and Tag Manager.
Wild West Chevrolet
Miles Construction, a general contractor based outside of Carson City, has broke ground on a 5,024-square-foot addition to the Wild West Chevrolet car dealership in Yerington.
The project will include additional showroom space, a new service bay and overall updates to the look of the dealership’s building. Wild West Chevrolet will remain open and fully operational throughout renovations, which are expected to be complete by March of 2017.
NV Energy, with assistance from several partners, has completed a drone pilot program to inspect, collect and analyze data on sections of its transmission and distribution lines. All of the flights were conducted under visual line-of-sight (VLOS) conditions. The data collected was then incorporated into NV Energy’s mapping system and used to determine areas that may need attention.
Saint Mary’s Regional Medical Center
Saint Mary’s Regional Medical Center was one of 844 hospitals to receive an “A”, ranking among the safest hospitals in the United States, according to safety grades performed by The Leapfrog Group, a national patient safety watchdog.
New Horizon Home Care LLC
New Horizon Home Care LLC of Elko, was one of eight home health agencies in Nevada honored for their commitment to improving and promoting patient-centered care, according to HealthInsight, a nonprofit, community-based collaborative working to improve health and health care for patients and providers.
New Horizon was recognized at the 2016 HealthInsight Annual Quality Conference, Tuesday, Nov. 1 at the InNEVation Center in Las Vegas.
Reno/Tahoe Realty Group, LLC
Reno/Tahoe Realty Group, LLC has joined the Economic Development Authority (EDAWN) as a Gold Investor.
Fashion Avenue, a new retail store, has opened at the Grand Sierra Resort.
United Federal Credit Union
United Federal Credit Union has opened a new branch at 935 Jacks Valley Road in Carson City.
The credit union was also named favorite financial institution in The Big Nickel’s Second Annual Reader’s Choice Awards in the bank/credit union category. UFCU also won the award in 2015, which was the first year for the competition.
Bill Atalla, a Reno inventor, has developed a product, Hinge Hanger, which is designed to create storage space by using the area behind doors.
Atalla is also starting a Kickstarter campaign for his product beginning Monday, Nov. 14 on the website, http://www.hingehanger.com.
Virginia City reported that its own spirit, Cemetery Gin has sold more than 2,500 bottles locally and donated $2,500 to the Comstock Cemetery Foundation, charged with preserving the town’s historic cemeteries. To date, more than 40 locations throughout northern Nevada sell the gin, exclusively distributed through Southern Wine and Spirits.
Eagle Protect PBC
Eagle Protect PBC has joined the Tahoe Chamber.
Donna Davis, Regional Administrator for U.S. Small Business Administration (SBA) Region IX, has awarded $283,000 through SBA’s competitive State Trade Expansion Program (STEP) to support export growth by Nevada small businesses.
The State of Nevada Department of Taxation released its September tax distribution information. To access the full release, go to: http://tax.nv.gov/Publications/Monthly_Press_Release/.
Nevada’s nonrestricted gaming properties reported a “gaming win” of $948,961,678 for the month of September.
This amounts to a 3.55 percent increase compared to Sept. 2015, when the win was $916,466,663. For the fiscal year (July 1, 2016 through September 30, 2016), gaming win has increased 2.84 percent.
The win in Washoe County was $74,016, 873, compared to $71,447,825 in the same period a year earlier, an increase of 3.6 percent. The Carson Valley Area’s win was $8,826,197, compared to $8692,407 a year earlier, a 1.54 percent increase.
In Elko County the gaming win was $23,483,413, compared to $22,394,198 a year earlier, a 4.86 percent increase.
The Bureau of Land Management, Battle Mountain District, Mount Lewis Field Office, has issued the final environmental impact statement for the 3 Bars Ecosystem and Landscape Restoration Project, located in Eureka County.
The report is available online at the following website: http://bit.ly/2eAI2Ut.
The BLM Ely District, Bristlecone Field Office is asking for review and comments on a proposal to expand the Robinson Mine located on private and public lands about seven miles west of Ely. The 30-day public comment period concludes Wednesday, Nov. 30.
The Nevada Department of Motor Vehicles has released the new “Home Means Nevada” license plate.
Now motorists can request the “Home Means Nevada” plate when registering a vehicle or ordering a new plate.
Lake Tahoe was named one of “15 Best Places to Go This Winter” by U.S. News & World Report.
Lake Tahoe was recognized for its beauty, plethora of activities, skiing/snowboarding and entertainment/nightlife. Travel rankings were based on reader votes and editor analysis. An online version of the Oct. 25 article is available at: http://travel.usnews.com/gallery/the-15-best-places-to-go-this-winter/.
The new owner of The Crossing at Tahoe Valley is Second Bay Holding Tahoe, LLC, based in Redwood City, Calif. The 46,041-square-foot center was originally constructed in 1973.