Tuesday, September 6, 2016

ITT Technical Institutes shuts down; Henderson, North Las Vegas campuses closed – Las Vegas Review-Journal

ITT Technical Institutes shuts down; Henderson, North Las Vegas campuses closedLas Vegas Review-JournalITT Educational Services Inc. has abruptly shut down its eponymous for-profit technical schools, closing more than 130 campuses and leaving as many as 40,000 students stranded in one of the largest college closures in American history. The company … and more …read more […]

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FAA chief to address drone conference Wednesday in Las Vegas – Las Vegas Review-Journal

Las Vegas Review-JournalNevada Dynamics employees CEO MacCallister Higgins, left, and President Erik Edgington set up their Reno-based start-up’s display at InterDrone in the convention center at Rio hotel-casino in Las Vegas Wednesday, Sept. 9, 2015. (Jason Ogulnik/Las … …read more From:: Las Vegas News By Google News

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Oakland Uber Driver Interview On The Changing City

Oakland Uber Driver Interview On The Changing City - Video

Oakland Uber Driver Interview On The Changing City
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Oakland Uber Driver Interview On The Changing City

Oakland Uber Driver Interview On The Changing City
Oakland Uber Driver Interview On The Changing City
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ITT Technical Institutes shuts down; Henderson, North Las Vegas campuses closed – Las Vegas Review-Journal

ITT Technical Institutes shuts down; Henderson, North Las Vegas campuses closedLas Vegas Review-JournalITT Educational Services Inc. has abruptly shut down its eponymous for-profit technical schools, closing more than 130 campuses and leaving as many as 40,000 students stranded in one of the largest college closures in American history. The company … and more …read more […]

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FAA chief to address drone conference Wednesday in Las Vegas – Las Vegas Review-Journal

Las Vegas Review-JournalNevada Dynamics employees CEO MacCallister Higgins, left, and President Erik Edgington set up their Reno-based start-up’s display at InterDrone in the convention center at Rio hotel-casino in Las Vegas Wednesday, Sept. 9, 2015. (Jason Ogulnik/Las … …read more From:: Las Vegas News By Google News

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Donald Trump's Sexist Hillary Clinton Comment

Donald Trump's Sexist Hillary Clinton Comment - Video

Donald Trump's Sexist Hillary Clinton Comment
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SNTIC Using Risky Bond Debt Coverage To Justify $750M Oakland Raiders Las Vegas Stadium Subsidy

SNTIC Using Risky Bond Debt Coverage To Justify $750M Oakland Raiders Las Vegas Stadium Subsidy - Video

SNTIC Use Risky Bond Debt Coverage To Justify $750M Oakland Raiders Las Vegas Stadium Subsidy The Southern Nevada Tourism and Infrastructure Committee, or the SNTIC group assembled by Nevada Governor Brian Sandoval to recommend a course of fiscal action to the Nevada Legislature and to ostensibly solve pressing infrastructure problems, is staffed by a group of consultants that is using substandard municipal bond calculations to justify recommending a $750 million public subsidy requested by billionaire casino operator Sheldon Adelson. If the recommendation of $750 million is pushed by the SNTIC, which is using a below-industry-standard bond debt coverage ratio of 1.5, the result could be asking the Nevada Legislature to approve a bond issue that would be closer to potential default than any bond Clark County has issued in the past. Clark County would, indeed, be on the hook for $750 million that it could not comfortably afford to pay. In considering a proposed municipal bond issue, an investment bank looks for the ability of the bond issuer to pay off the bond that they want to float. Or, to put in it more specific terms, the series of bonds that Clark County will be asked to issue if Sheldon Adelson gets his way and is granted his $750 million ask, will have to have a revenue stream that is greater than $750 million over a 30 year period. The difference between the total amount of that revenue stream and the $750 million is called the “debt coverage ratio” - there is a common standard number for this in the municipal bond industry. According to several online sources (here http://ift.tt/2cgyX1D, here http://ift.tt/2cp7rw5 and here http://ift.tt/2cgyzjC ) the standard debt coverage ratio is 2, or two times the public subsidy of $750 million. That would come to $1.5 billion over 30 years. But the total revenue from the planned hotel tax increase of .007 (or 7-tenths of one percent) over the 30-year period is $1,232,346,395.86 and assumes the following: 162,745 hotel rooms in Clark County, an average room rate of $111, and an occupancy rate of 89 percent – all of those assumptions are at the high end for Clark County and done so by this blogger deliberately to stress-test the proposal. No one can say I was deliberately using low estimates to achieve this outcome. The result of $1,232,346,395.86 subtracted from the needed revenue of $1.5 billion come to a shortfall of $267,653,604. In other words, there is not enough money to afford the $750 million NFL Stadium public subsidy over a 30 year period. In effect, the subsidy needs to be lowered by $150 million just to meet the requirements for what the municipal bond industry would consider a non-risky subsidy – or about $600 million Thus, early SNTIC hearings where a $600 million subsidy was discussed were reflecting a fiscally responsible strategy to pay for an NFL Stadium. By contrast, the SNTIC Consultants, in using a 1.5 debt coverage ratio, came to just $1.125 billion in revenue needed for the $750 million subsidy, or $750 million times 1.5 instead of 2 – do you see? In effect, the SNTIC Consultants picked this lower debt coverage ratio to justify the $750 million subsidy, when a $600 million subsidy was the best action to recommend. I placed the spreadsheet I created online and here for anyone to look at and to replicate. You can get it here: http://ift.tt/2cp7msk MORE....http://ift.tt/2bUJsqe
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SNTIC Using Risky Bond Debt Coverage To Justify $750M Oakland Raiders Las Vegas Stadium Subsidy

SNTIC Using Risky Bond Debt Coverage To Justify $750M Oakland Raiders Las Vegas Stadium Subsidy
SNTIC Use Risky Bond Debt Coverage To Justify $750M Oakland Raiders Las Vegas Stadium Subsidy The Southern Nevada Tourism and Infrastructure Committee, or the SNTIC group assembled by Nevada Governor Brian Sandoval to recommend a course of fiscal action to the Nevada Legislature and to ostensibly solve pressing infrastructure problems, is staffed by a group of consultants that is using substandard municipal bond calculations to justify recommending a $750 million public subsidy requested by billionaire casino operator Sheldon Adelson. If the recommendation of $750 million is pushed by the SNTIC, which is using a below-industry-standard bond debt coverage ratio of 1.5, the result could be asking the Nevada Legislature to approve a bond issue that would be closer to potential default than any bond Clark County has issued in the past. Clark County would, indeed, be on the hook for $750 million that it could not comfortably afford to pay. In considering a proposed municipal bond issue, an investment bank looks for the ability of the bond issuer to pay off the bond that they want to float. Or, to put in it more specific terms, the series of bonds that Clark County will be asked to issue if Sheldon Adelson gets his way and is granted his $750 million ask, will have to have a revenue stream that is greater than $750 million over a 30 year period. The difference between the total amount of that revenue stream and the $750 million is called the “debt coverage ratio” - there is a common standard number for this in the municipal bond industry. According to several online sources (here http://ift.tt/2cgyX1D, here http://ift.tt/2cp7rw5 and here http://ift.tt/2cgyzjC ) the standard debt coverage ratio is 2, or two times the public subsidy of $750 million. That would come to $1.5 billion over 30 years. But the total revenue from the planned hotel tax increase of .007 (or 7-tenths of one percent) over the 30-year period is $1,232,346,395.86 and assumes the following: 162,745 hotel rooms in Clark County, an average room rate of $111, and an occupancy rate of 89 percent – all of those assumptions are at the high end for Clark County and done so by this blogger deliberately to stress-test the proposal. No one can say I was deliberately using low estimates to achieve this outcome. The result of $1,232,346,395.86 subtracted from the needed revenue of $1.5 billion come to a shortfall of $267,653,604. In other words, there is not enough money to afford the $750 million NFL Stadium public subsidy over a 30 year period. In effect, the subsidy needs to be lowered by $150 million just to meet the requirements for what the municipal bond industry would consider a non-risky subsidy – or about $600 million Thus, early SNTIC hearings where a $600 million subsidy was discussed were reflecting a fiscally responsible strategy to pay for an NFL Stadium. By contrast, the SNTIC Consultants, in using a 1.5 debt coverage ratio, came to just $1.125 billion in revenue needed for the $750 million subsidy, or $750 million times 1.5 instead of 2 – do you see? In effect, the SNTIC Consultants picked this lower debt coverage ratio to justify the $750 million subsidy, when a $600 million subsidy was the best action to recommend. I placed the spreadsheet I created online and here for anyone to look at and to replicate. You can get it here: http://ift.tt/2cp7msk MORE....http://ift.tt/2bUJsqe
via YouTube http://youtu.be/la1bXiAfCNI

SNTIC Uses Risky Bond Debt Coverage To Justify $750M Oakland Raiders Las Vegas Stadium Subsidy

The Southern Nevada Tourism and Infrastructure Committee, or the SNTIC group assembled by Nevada Governor Brian Sandoval to recommend a course of fiscal action to the Nevada Legislature and to ostensibly solve pressing infrastructure problems, is staffed by a group of consultants that is using substandard municipal bond calculations to justify recommending a $750 million […]

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SNTIC Uses Risky Bond Debt Coverage To Justify $750M Oakland Raiders Las Vegas Stadium Subsidy

The Southern Nevada Tourism and Infrastructure Committee, or the SNTIC group assembled by Nevada Governor Brian Sandoval to recommend a course of fiscal action to the Nevada Legislature and to ostensibly solve pressing infrastructure problems, is staffed by a group of consultants that is using substandard municipal bond calculations to justify recommending a $750 million […]

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Uber set to launch food delivery service across Las Vegas Valley – Las Vegas Review-Journal

Las Vegas Review-JournalUberEats officials confirmed more than 150 restaurants are expected to participate as part of Wednesday’s launch in Las Vegas, which joins more than 20 cities across the country that were gradually introduced this year to the ridesharing company’s … …read more From:: Las Vegas Restaurant News By Google News

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Uber set to launch food delivery service across Las Vegas Valley – Las Vegas Review-Journal

Las Vegas Review-JournalUberEats officials confirmed more than 150 restaurants are expected to participate as part of Wednesday’s launch in Las Vegas, which joins more than 20 cities across the country that were gradually introduced this year to the ridesharing company’s … …read more From:: Las Vegas Restaurant News By Google News

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SNTIC Final Draft Recs Has Oakland Raiders Las Vegas NFL Stadium Pending

SNTIC Final Draft Recs Has Oakland Raiders Las Vegas NFL Stadium Pending - Video

SNTIC Final Draft Recs Has Oakland Raiders Las Vegas NFL Stadium Pending The Southern Nevada Tourism and Infrastructure Committee has released a draft of its final recommendation - but "Recommendation 2" for the Oakland Raiders Las Vegas NFL Stadium (or a stadium, period) is left marked as "pending". That is because there's a lot of reports and documents and land issues to consider. Also, there's the matter of that $750 million subsidy, which one of the SNTIC Consultants said to me was "a gift from Sheldon Adelson" - but since that person does not represent Las Vegas Sands or Adelson directly, I was shocked. So who is paying the SNTIC Consultants? Here are the recommendations for now: Recommendation 1: - That the Nevada State Legislature increase the transient lodging tax by 0.5 percent in Clark County to fund construction of the Las Vegas Convention Center expansion and renovation project; implement a cap on the total annual transient lodging tax collection allowance local entities can receive at $25 million, with any amount greater than that directed to fund construction of the convention center expansion and renovation project; and create a board of construction industry professionals to oversee project plans and expenditures. Recommendation 2: - [Recommendation pending] Recommendation 3 - That the Nevada State Legislature authorize the increase of the sales tax rate in Clark County by 0.1 percent, with the first portion of incremental revenue distributed to the Las Vegas Metropolitan Police Department and dedicated to increasing police resources within the resort corridor in proportion to the share of countywide sales tax revenue generated within the resort corridor. The remaining incremental revenue shall be distributed to local police agencies based on population. Recommendation 4 - That the2025 sunset provision of the Clark County Sales and Use Tax of 2005 be removed, effectively making permanent the incremental sales taxrevenue police departments use to retain and equip additional uniformed officers throughout Southern Nevada. Recommendation 5 - That the Nevada State Legislature authorize an interim study of available and alternative aviation fuel resources to support the current and future needs of the Southern Nevada aviation industry. The recommendation would be for the study to be approved dur ing the 2017 session DRAFT 3of the Nevada State Legislature, conducted between the 2017 and 2019 session, with a report delivered to the Governor and Legislature in advance of the 2019 session. Stay tuned. SNTIC Final Draft Recommendations: http://ift.tt/2coHGMn
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SNTIC Final Draft Recs Has Oakland Raiders Las Vegas NFL Stadium Pending

SNTIC Final Draft Recs Has Oakland Raiders Las Vegas NFL Stadium Pending
SNTIC Final Draft Recs Has Oakland Raiders Las Vegas NFL Stadium Pending The Southern Nevada Tourism and Infrastructure Committee has released a draft of its final recommendation - but "Recommendation 2" for the Oakland Raiders Las Vegas NFL Stadium (or a stadium, period) is left marked as "pending". That is because there's a lot of reports and documents and land issues to consider. Also, there's the matter of that $750 million subsidy, which one of the SNTIC Consultants said to me was "a gift from Sheldon Adelson" - but since that person does not represent Las Vegas Sands or Adelson directly, I was shocked. So who is paying the SNTIC Consultants? Here are the recommendations for now: Recommendation 1: - That the Nevada State Legislature increase the transient lodging tax by 0.5 percent in Clark County to fund construction of the Las Vegas Convention Center expansion and renovation project; implement a cap on the total annual transient lodging tax collection allowance local entities can receive at $25 million, with any amount greater than that directed to fund construction of the convention center expansion and renovation project; and create a board of construction industry professionals to oversee project plans and expenditures. Recommendation 2: - [Recommendation pending] Recommendation 3 - That the Nevada State Legislature authorize the increase of the sales tax rate in Clark County by 0.1 percent, with the first portion of incremental revenue distributed to the Las Vegas Metropolitan Police Department and dedicated to increasing police resources within the resort corridor in proportion to the share of countywide sales tax revenue generated within the resort corridor. The remaining incremental revenue shall be distributed to local police agencies based on population. Recommendation 4 - That the2025 sunset provision of the Clark County Sales and Use Tax of 2005 be removed, effectively making permanent the incremental sales taxrevenue police departments use to retain and equip additional uniformed officers throughout Southern Nevada. Recommendation 5 - That the Nevada State Legislature authorize an interim study of available and alternative aviation fuel resources to support the current and future needs of the Southern Nevada aviation industry. The recommendation would be for the study to be approved dur ing the 2017 session DRAFT 3of the Nevada State Legislature, conducted between the 2017 and 2019 session, with a report delivered to the Governor and Legislature in advance of the 2019 session. Stay tuned. SNTIC Final Draft Recommendations: http://ift.tt/2coHGMn
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Oakland Raiders 2016 Run Defense, Gaps And Bruce Wayne

Oakland Raiders 2016 Run Defense, Gaps And Bruce Wayne
Oakland Raiders 2016 blog Oakland Raiders 2016 Run Defense, Gaps And Bruce Wayne Bruce Wayne says I should leave talking about the Oakland Raiders Run Defense to those who know what they are talking about. Well, then he must be saying that gap control is not an issue? I wish some commenters would think about what they are writing. The matter of gap control is a major problem with the Oakland Raiders Defense.
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Oakland Raiders 2016 Run Defense, Gaps And Bruce Wayne

Oakland Raiders 2016 Run Defense, Gaps And Bruce Wayne - Video

Oakland Raiders 2016 blog Oakland Raiders 2016 Run Defense, Gaps And Bruce Wayne Bruce Wayne says I should leave talking about the Oakland Raiders Run Defense to those who know what they are talking about. Well, then he must be saying that gap control is not an issue? I wish some commenters would think about what they are writing. The matter of gap control is a major problem with the Oakland Raiders Defense.
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Building a successful music fest is a labor of love – Las Vegas Review-Journal

Las Vegas Review-JournalTo get some answers, we turned to two dudes who’ve done it: Tom Ingram, founder of the Viva Las Vegas rockabilly weekender, which will become the first local music fest to last two decades when it returns to The Orleans next spring, and Michael Gordon, … …read more From:: Las Vegas News By […]

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Nellis AFB: Inside the Military Marvel Mere Miles from Las Vegas … – Military.com

Military.comOn a hot August afternoon, the world is buzzing in the wide-open atrium of the Nellis Air Force Base Exchange. and more …read more From:: Las Vegas Strip News By Google News

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Building a successful music fest is a labor of love – Las Vegas Review-Journal

Las Vegas Review-JournalTo get some answers, we turned to two dudes who’ve done it: Tom Ingram, founder of the Viva Las Vegas rockabilly weekender, which will become the first local music fest to last two decades when it returns to The Orleans next spring, and Michael Gordon, … …read more From:: Las Vegas News By […]

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Nellis AFB: Inside the Military Marvel Mere Miles from Las Vegas … – Military.com

Military.comOn a hot August afternoon, the world is buzzing in the wide-open atrium of the Nellis Air Force Base Exchange. and more …read more From:: Las Vegas Strip News By Google News

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Deadly crash in North Las Vegas – KLAS-TV

KLAS-TVDowned motorcycle at Lake Mead Blvd. & Civic Center Dr. in North Las Vegas. NORTH LAS VEGAS, Nev. – North Las Vegas police are investigating a deadly crash near Lake Mead Blvd. and Civic Center Drive. It happened just before 8:30 p.m.. A 47 year-old …Woman dies after hit by motorcycle in North Las VegasKTNV […]

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Deadly crash in North Las Vegas – KLAS-TV

KLAS-TVDowned motorcycle at Lake Mead Blvd. & Civic Center Dr. in North Las Vegas. NORTH LAS VEGAS, Nev. – North Las Vegas police are investigating a deadly crash near Lake Mead Blvd. and Civic Center Drive. It happened just before 8:30 p.m.. A 47 year-old …Woman dies after hit by motorcycle in North Las VegasKTNV […]

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Ann Coulter On Rob Lowe Roast Was Painful To Watch #LoweRoast

Ann Coulter On Rob Lowe Roast Was Painful To Watch #LoweRoast
Ann Coulter On Rob Lowe Roast Was Painful To Watch #LoweRoast Whoever thought having conservative commentator Ann Coulter on the Rob Lowe Roast was a good idea should be rethinking that. She was awful. Not funny at all. Ann Coulter was so bad that I felt sorry for her. For a second.
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Ann Coulter On Rob Lowe Roast Was Painful To Watch #LoweRoast

Ann Coulter On Rob Lowe Roast Was Painful To Watch #LoweRoast - Video

Ann Coulter On Rob Lowe Roast Was Painful To Watch #LoweRoast Whoever thought having conservative commentator Ann Coulter on the Rob Lowe Roast was a good idea should be rethinking that. She was awful. Not funny at all. Ann Coulter was so bad that I felt sorry for her. For a second.
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The Alley Bar Now An Official Oakland Landmark

The Alley Bar Now An Official Oakland Landmark
According to a document on the City Of Oakland website, the Alley Bar at 3325 Grand Avenue is an official Oakland Landmark! Having received that designation from the City of Oakland's Landmark Preservation Commission, The Alley is now one hearing away from placement on the National Register Of Historic Places (I checked the database and it's not yet listed there.) The City website doc: http://ift.tt/2bPTavD The primary reason given is The Alley is a piano bar and that holds a place in American Culture worthy of preservation. This is an incredible milestone! Congratulations to Jackie Simpkins, The Alley Bar Owner.
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