The Last Word - August 2008

The Last Word

Do you feel Nevada’s economy will be stronger in the coming year?

Von Heinz, Partner, Lewis and Roca LLP, Las Vegas

“The economic malaise that grips the country will impact Europe and Asia harder than anticipated and, in turn, make Nevada’s financial recovery even more challenging. Nevada businesses whose employees provide the highest quality work product and most meaningful service will best be positioned to survive a difficult 2008.”

Larry Monkarsh, Owner, LM Construction, Las Vegas

“I feel Southern Nevada’s economy does better in a downturn. We are diversifying, which makes it easier to stem the tides. The dollar is weak and inflation is weighing on the consumer, therefore they vacation close to home in places such as Las Vegas. I think we will do just fine.”

Arlo Stockham, General Manager, Spring Mountain, Reno

“The troubled real estate market and negative economic impacts associated with real estate will continue through 2008 and possibly beyond. The good news is that the economy is cyclical, and I believe the economic difficulties that we are currently experiencing are necessary to restore economic health in the long-term.”

Dick Bostdorff, Chief Operating Officer, Kiley Ranch, Sparks

“Unfortunately, no, it won’t be stronger. But I believe things won’t get any worse than they are now. Nevada has three basic economic drivers: construction, entertainment and retirees. In order for Nevada’s economy to return to growth mode, two of the three drives of our economy must recover.”

Darcy Neighbors, Founder and CEO, Consultants in Marketing, Inc., Las Vegas

“Absolutely. All the pieces are in place for a rebound in this state. I know many of the clients we work with have used the slowdown to make positive adjustments to their business models. We’re in a good position to move forward with growth that is more dynamic.”

Howard Winters, Founder and CEO, Payroll Solutions Group, Las Vegas

“Like most Americans, I’m an optimist. But, you have to be a realist. For the first time in our history, we face an economic, political, moral and social crisis from which we may not recover. As a city, state and a nation, we have to face the truth, the party’s over!”