News Briefs | Week of Jan. 20
Plumas Bancorp, the parent company of Plumas Bank with a branch in Reno, reported record earnings for the three and 12 months ended Dec. 31, 2016. Earnings during the fourth quarter of 2016 totaled $2.1 million, an increase of $459,000, or 28 percent from $1.6 million during the three months ended Dec. 31, 2015. Earnings per diluted share increased to $0.41 during the three months ended Dec. 31, 2016, up $0.08 from $0.33 during the fourth quarter of 2015.
For the year ended Dec. 31, 2016, The company reported a net income of $7.5 million, an increase of $1.7 million, or 29 percent, from $5.8 million during the year ended Dec. 31, 2015. Earnings per diluted share increased to $1.47 during the year ended Dec. 31, 2016 up $0.32 from $1.15 during 2015.
For a full press release, go to: http://www.snl.com/IRW/file/4074251/Index?KeyFile=37566073.
Miles Construction, a general contractor based in Carson City, has completed renovations of the convention center and ballroom at Hard Rock Hotel & Casino in Stateline.
Work included installing new exterior stairs and replacing sections of the existing sewer and grease lines at the resort.
Avanti Markets Nevada
Avanti Markets Nevada, the largest micro-market provider in northern Nevada, will open its 100th market location at ProThera, Inc., a healthcare company that specializes in the research, formulation and manufacture of nutraceutical products for exclusive distribution by healthcare professionals.
Eyemart Express is opening a second location in northern Nevada at 4530 S. Carson Street in Carson City.
The store offers optometry service, an in-house lab, and one-hour order fulfillment on eye glasses. The Carson City location will employ between five to 10 people. The new shop is planning a grand opening in April.
Renown Health was among 160 organizations in the U.S. and Canada that received the WorldatWork 2017 Seal of Distinction.
This annual honor recognizes an organization’s outstanding commitment to employee well-being and engagement through programs such as health and wellness, retirement, development opportunities, workplace flexibility and financial wellness offerings.
Renown Health was also recently named a “BOLD” organization by the National Center for Health Leadership (NCHL). The BOLD award honored 18 healthcare organizations nationwide for improving health and healthcare in their communities.
United Federal Credit Union
United Federal Credit Union’s new Spanish Springs location, which opened Jan. 16, is hosting a weeklong grand opening celebration from Jan. 30 to Feb. 3.
Festivities at the branch, located at 2432 Wingfield Hills Road in Sparks, include:
Monday, Jan.30 from 9-11 a.m. — KBUL Live radio remote with Dough Boy Donuts and coffee;
Tuesday through Thursday, Jan. 31 to Feb. 2 from 9 a.m.-5 p.m. — Pin It To Win It on-site Bowling Game to benefit Women and Children’s Center;
Wednesday, Feb. 1 from noon -2 p.m. —KOZZ Live radio remote and Port of Subs;
Friday, Feb. 3 from 11:30 a.m.-2 p.m — Financial Wellness Friday, Refreshments provided;
In addition to the grand opening events, people who open a consumer Membership Savings Account at the new Spanish Springs branch will be entered to win one of two entertainment packages for Sunday, Feb. 5.
Noble Studios has redesigned the website for Truckee Meadows Water Authority (TMWA) at http://www.tmwa.com.
The website is responsive on all devices and features intuitive navigation, making it easier for TMWA customers to access tools and resources. TMWA.com features an all-new blog, which houses articles covering such water-related topics as home winterization, facility tours, ongoing workshops and more.
Itronics, Inc., a fertilizer and silver producing green technology company based in Reno, has made its first shipment of silver bullion made through its e-scrap technology that is entering Phase III of its operations development.
Itronics has entered into a silver bullion sales agreement with a finish refiner and will be paid for silver, gold, palladium, and copper contained in the bullion.
The company has also entered into a preliminary agreement to purchase personal computer circuit boards from a northern Nevada computer services company that disassembles discarded personal computers and sorts the contents for sale to recyclers.
Infrastructure Materials Corp.
Infrastructure Materials Corp., a Reno-based exploration stage company, has entered into a debt conversion agreement with Mont Strategies, Inc.
At Dec. 20, 2016, a total of $29,733 in interest was outstanding under the loans for an aggregate amount owing of $433,033. By letter dated Nov. 2, 2016, Mont Strategies demanded repayment of its outstanding loans. Since Mont Strategies has been largely funding the company’s operations through such loans, the implication of the demand for repayment is that, in addition to seeking repayment of the debt, such further funding of the company’s operations by Mont Strategies would cease.
In order to preserve much of the working capital of the company, effective Jan. 12, Mont Strategies agreed to settle the balance of interest and principal outstanding in consideration for the issuance of 433,033,000 common shares. The company had 138,304,619 common shares issued and outstanding before the debt settlement, and has an aggregate of 571,337,619 common shares issued and outstanding after the debt settlement. The Company still expects to require additional sources of working capital to fund operations and this matter is under review.
Eldorado Resorts, Inc.
Eldorado Resorts, Inc., has launched its ONE Club Guest Loyalty Program, at six Eldorado properties including Eldorado Reno, Silver Legacy Reno, and Circus Circus Reno.
Club guests can receive comps at over 50 restaurants and lounges, 4,500 ONE Club, which debuted in August 2016 at Mountaineer Casino Racetrack & Resort, Presque Isle Downs & Casino, and Scioto Downs Racino, offers will reward guests with exclusive benefits nationwide such as comps on hotel rooms, dining and dozens of entertainment options.
Newmont Mining Corp.
Newmont Mining Corp. will report fourth quarter and full year 2016 operations and financial results after the market closes on Tuesday, Feb. 21. A conference call will be held Wednesday, Feb. 22, at 10 a.m. Eastern Time.
The conference call, will also be carried on Newmont’s website. For details, go online at: http://www.newmont.com/newsroom/newsroom-details/2017/Newmont-Announces-Fourth-Quarter-and-Full-Year-2016-Earnings-Call/default.aspx.
Barrick Gold Corp.
Barrick Gold Corp. has launched its Global Employee Share Plan, making every Barrick employee around the world an owner of the company. More than 10,000 employees are receiving an initial grant of 25 common shares, which they must hold for as long as they work for the company.
The U.S. Small Business Administration (SBA) is inviting funding proposals from non-profit organizations, state, local and tribal government agencies, and institutions of higher learning to provide “Boots to Business” entrepreneurship training to service members, military spouses, and veterans.
Eligible, interested parties should submit their proposal at http://www.grants.gov/web/grants/view-opportunity.html?oppId=291244 by 11:59 EST on Feb. 17, 2017. For details, contact John Lira at firstname.lastname@example.org.
The Economic Development Authority of Western Nevada (EDAWN) has launched a Pandora campaign in three markets outside of northern Nevada to promote the ‘Rethink Reno” initative.
The spot highlights the assets of the community and the many opportunities in multiple sectors that exist for employees at all levels. In the first week of the campaign, more than 250 people went to the RethinkReno.com site to learn more about our area as a great place to live, work and play.
Unemployment insurance claims
In December, 13,061 initial claims for unemployment insurance benefits were filed in Nevada, a decline of 10 percent from December of 2015. Following the expected seasonal pattern, claims levels rose from last month, though this December’s total is the lowest since 1994, according to reports by the Nevada Department of Employment, Training & Rehabilitation.
For 2016, initial claims were down nearly 12 percent compared to 2015 and at their lowest level since 2006.
The unemployment rate fell to a seasonally-adjusted 5.1 percent in December, down 0.1 of a percentage point from November, the lowest it has been in nine years. Additionally, the Silver State added a seasonally-adjusted 3,400 jobs relative to November.
Relative to 2015, Nevada gained an additional 32,500 jobs, an increase of 2.6 percent, according to initial estimates. The trade/transportation/utilities sector realized the largest increase in terms of nominal growth during 2016, up 9,000 jobs, an increase of 3.8 percent relative to 2015. Construction was the fastest growing of all the industrial supersectors in terms of percentage growth, up 10.4 percent over 2015, which equates to a gain of 7,200 jobs.
NCET Tech Bites
NCET is hosting its Tech Bites luncheon, “The Nervous Nine: Nine HR Concerns ALL Employers Need to Be Concerned About” from Wednesday, Jan. 25 from 11:30 a.m. to 1 p.m. at Atlantis Casino Resort Spa.
Presenter will be HR professional Jim Annis.
Tickets are $25 for NCET members and $35 for non-members. Tables of eight can be purchased for $200 for NCET members and $280 for non-members.
For more information, contact NCET at 775-453-0130 or info@NCET.org.
The Tahoe Chamber is hosting Go Local Business Expo on Friday, March 31 from 4:30 to 8:30 p.m. at Harvey’s Lake Tahoe. For details, go online at: http://www.tahoechamber.org.
The Chamber will host DIRECTIONS 2017 on Wednesday, Feb. 1 beginning at 7:30 a.m. at the Reno Ballroom. This year’s program is entitled “Engines of Change.”
Emceed by Sarah Johns, KOLO 8 News Now Anchor, DIRECTIONS 2017 features remarks from Tom Murphy, former mayor of Pittsburgh, PA and Senior Fellow at the Urban Land Institute on creating and sustaining thriving communities; Manny Lamarre, director of the Governor’s Office of Workforce Innovation; Matt Sweeny, CEO and co-founder, Flirtey on the industry disruptive technology and how it’s playing a role in our backyard; Mo Mullen, director of Business Development- Local with West Elm on creative evolution of business and socially responsible development; Nevada Lieutenant Governor Mark Hutchison; and Frederick A. Steinmann, assistant research professor and leadership and economic development specialist at the University of Nevada, Reno Center for Economic Development on driving change in regional economics.
Tickets can be purchased on the Chamber’s website at: http://www.thechambernv.org/.
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The Northern Nevada Chapter of the American Institute of Architects recently presented Hawkins and Associates with the 2019 Commercial Architecture Citation Award for Design Excellence for the renovated building.