Tax rebates drove Q2 GDP into plus territory; Total compensation costs rise
Economic growth picked up in the second quarter driven by consumer tax rebates. The rebound followed a rough patch where the economy jolted into reverse at the end of 2007.
CityCenter’s financing still not in place
Associated Press reported last night that MGM Mirage still seeking financing for its $9.2 billion CityCenter project.
According to AP, MGM Mirage Inc. and partner Dubai World have run into delays in securing more than $3 billion in financing for a $9.2 billion Las Vegas Strip casino project, but expect a deal to be done in [...]
U.S. regulators take over First National Bank
The following from today’s Las Vegas Review-Journal, by John Edwards.
It looked like business as usual when a woman with a child walked up to the front door of the First National Bank branch at 4950 W. Flamingo Road about 5 p.m. Friday.
The door was already locked, and she walked away having come about a minute [...]
New home sales declined in June
Sales of newly constructed U.S. single-family homes were stronger than expected in June, and inventories shrank to three-and-a-half-year low, the Commerce Department reported today.
U.S. new home sales fell 0.6 percent to a 530,000 annual pace last month from a revised 533,000 rate, the Commerce Department said. Economists polled by Reuters were expecting sales to slow [...]
June durable goods orders rose
New orders for long-lasting U.S. manufactured goods rose surprisingly in June on demand for metals, machinery, electrical equipment, and military needs, even though transportation orders were weak, a government report showed today.
Durable goods orders were up 0.8 percent, after a revised 0.1 percent gain in May. When volatile transportation orders were excluded, orders climbed 2 [...]