Subscribe to Banking & finance RSS feed

Banking & finance

Bank takes a broader approach

The financial industry has learned from the Great Recession and downturn that resulted from the real estate collapse and is better for it today. That’s the message from Nevada State Bank CEO Dallas Haun, who said the 56-year-old institution took a broader approach when it was reorganized in 2010; and that model has served it well since.

Bank of America embracing technology

It’s no secret that people are turning to digital capabilities to stay connected to their daily lives, and banking is no different. We’re seeing more customers choose to manage many of their everyday banking transactions — such as depositing checks, checking balances and transferring money — through their mobile devices, online or at ATMs.

Millenials in business for long haul, study finds

A generational divide between millennial small business owners and their older counterparts exists in their long-term commitment and the financial risks those owners are willing to take, according to the recently released Wells Fargo Millennial Small Business Owner Study.

MGM’s Murren leads way in compensation

MGM Resorts International CEO Jim Murren tops the Business Press’ executive compensation list this year, up from ninth place last year. While his $2 million base pay and bonus ranked fourth, value realized from company stock made the difference.

Look inward before starting hunt for a loan

I am often asked by business owners how to generate additional cash, beyond what their own company’s cash requirements are, to make an acquisition, expand into new territories, hire additional staff or buy a new plant and equipment. All of these growth scenarios take significant cash. Since many companies have existing debt, their borrowing capacity is often limited. Therefore, generating additional cash strengthens a company’s balance sheet permitting the company to increase its credit facility.

Mixed year for largest public companies

Total gross revenue for the 11 Las Vegas Valley-based companies with more than $1 billion in revenue decreased during the fiscal year ending in 2015 to $51.1 billion, down 8.3 percent from the previous year’s $55.7 billion, but total net income for the companies rose 248.7 percent from $2.08 billion to $7.26 billion.

GAMMA review can stretch those investments

If you grossed an 8 percent return and netted 7 percent after tax, is that better than grossing a 14 percent return and netting 7 percent? All things being equal, the 8 percent gross return is going to be better because it assumes you took less risk to get the same net return. Normally the goal is to get the highest rate of return with the least amount of risk. I am going to change that thinking and instead say, “Your goal is to get the highest NET AFTER TAX rate of return with the least amount of risk.”