The cover of the April 25, 2011, edition of the Northern Nevada Business Weekly.
EDITOR’S NOTE: Each week in 2021, we will feature snippets of stories that published a decade ago to provide readers a 10-year perspective of business news in the region. This week’s stories first published in the April 25, 2011, edition of the NNBW.
Big hospitals in region post losses
Downtown Reno’s two big hospitals — Renown Regional Medical Center and Saint Mary’s Regional Medical Center — lost a combined total of more than $68 million last year.
The gusher of red ink at the two big hospitals more than offset profits at the four other acute-care hospitals in the Reno, Sparks and Carson City region. The six hospitals posted a combined loss of nearly $27 million during 2010.
Analysts and executives said the financial performance indicates that hospitals continue to struggle as high unemployment leaves many workers without a way to pay for healthcare.
At the same time, they said, some hard-pressed employers have reduced health benefits and some consumers have decided to put off elective medical procedures because they don’t want to pay their out-of-pocket costs.
— Page 1, by John Seelmeyer
Plan looks to stabilize Rancharrah finances
A combination of special events, equestrian facilities — and development of three non-strategic pieces of land — are expected to provide financial stability for the landmark Rancharrah.
The 150-acre property west of Kietzke Lane between Sierra Rose Drive and Del Monte Road has been owned by members of gaming’s Harrah family since 1957. John and Holly Harrah — the current owners of the property — find themselves with big annual bills for upkeep.
Kevin Singleton, who’s overseeing a project to create a solid financial future for Rancharrah, says annual operating costs run more than $1 million a year. Electricity for the 25,000- square-foot mansion that’s the centerpiece of the property alone runs more than $4,000 a month.
— Page 1, by John Seelmeyer
Toys ‘R’ Us plans big technology investment in center
Toys “R” Us expects to invest more than $17 million into technology that will streamline operations of its new distribution center east of Sparks. The company headquartered at Wayne, N.J., said last week the 300,000-square-foot distribution center at Tahoe-Reno Industrial Center will include a robotic order-picking system.
The company told the Nevada Commission on Economic Development that the facility initially will employ 51 workers at an average wage of $19.91 an hour.Full-time employment at the distribution center in Storey County will increase in the near future, the company told representatives of the Northern Nevada Development Authority, which helped develop the company’s application for state economic development incentives.
Toys “R” Us said in a statement it expects to hire 120 full- and part-time workers at the facility. Employment will rise to about 350 late this year as the distribution gears up to fill orders during the holiday season.
— Page 3, NNBW staff