After sharply pulling back last year, banks are ramping up foreclosure activity in Las Vegas again.
Why not? With the rapid increase in home values, it’s become profitable to kick struggling people out of their homes so banks can resell them for big profits. It’s how the white elites roll.
The Las Vegas Review-Journal reports that lenders issued an average of about 500 default notices per month in the fourth quarter last year, up from just 32 a month in the third quarter and 380 per month in the first half of 2017, according to figures from housing tracker Attom Data Solutions.
Meanwhile, Home Means Nevada is now fully operational and started issuing certificates Nov. 1 that let lenders proceed with foreclosures, board president Shannon Chambers said.
Foreclosures were sliding in Las Vegas before the law took effect. But the drop last year “wouldn’t have been quite as dramatic without the legislation,” said Daren Blomquist, Attom’s senior vice president of communications.
Lenders repossessed an average of about 160 homes a month in the fourth quarter, up from 100 in the third.
Steve Wynn stepped down Saturday as Republican National Committee finance chairman amid allegations of sexual misconduct.
In a related development, Pat Mulroy, a former Nevada Gaming Commission member, has been selected to head a special committee appointed Friday by the Wynn Resorts board of directors to investigate the allegations.
RNC chair Ronna Romney McDaniel confirmed Wynn’s departure from the committee in a statement Saturday. “Today I accepted Steve Wynn’s resignation as Republican National Committee finance chair,” she said.
Later Saturday, Wynn affirmed the resignation with his own statement.
“Effective today, I am resigning as finance chairman of the RNC,” said the statement, emailed through a Wynn Resorts spokesman. “The unbelievable success we have achieved must continue. The work we are doing to make America a better place is too important to be impaired by this distraction. I thank the president for the opportunity to serve and wish him continued success.”
The resignation, according to the Las Vegas Review-Journal, comes after the Wall Street Journal’s report alleging the Wynn Resorts chairman and CEO demanded sex from and assaulted several of his resort employees over three decades.
Wynn denies the allegations, saying they were false and a smear campaign orchestrated by his ex-wife, Elaine Wynn, with whom he’s embroiled in a court battle over a company share agreement stemming from the couple’s 2010 divorce.
Elaine Wynn declined comment, but in court documents filed with the Nevada Supreme Court, her lawyers said she learned of one incident of alleged sexual misconduct with an employee as she was preparing for divorce proceedings with her husband in 2009.
The Las Vegas Review-Journal is reporting that a national group aimed at electing Republican attorneys general across the country is targeting Nevada.
The Republican Attorneys General Association announced on Thursday that it raised more than $16 million in 2017, up about $3.5 million from the last off-year fundraising period in 2015.
RAGA is fully behind former assemblyman and former assistant attorney general Wes Duncan, although he has a primary opponent in Las Vegas attorney Craig Mueller.
On the Democrat side, Senate Majority Leader Aaron Ford is considered the favorite to win the nomination and move on the general election, where the winner will replace Adam Laxalt. The RAGA and its related Nevada PAC spent more than $3 million to help Laxalt in the 2014 campaign.
David Copperfield, the superstar magician who routinely sells out his eponymous theater at MGM Grand, this week was accused of sexually assaulting a teen model 30 years ago.
According to the Las Vegas Review-Journal, Brittney Lewis said Copperfield assaulted her in 1988, when she was 17.
Copperfield has run for cover.
Lewis claims that soon after the two met at the “Look of the Year” modeling contest in Atami, Japan, Copperfield, then 32, invited her to one of his shows in California. After the performance, Lewis told the website she saw Copperfield pour something into her drink and that she then blacked out. After that, she said, she remembers only flashes that culminated with her being sexually assaulted by the famed illusionist.
In 2007, Copperfield faced sexual assault allegations from then-Miss Washington USA contestant Lacey L. Carroll in Seattle.
Las Vegas’ business elite gave the bad and the good of expectations for 2018 and beyond according to the Las Vegas Review-Journal.
About 2,000 business leaders gathered at the Thomas & Mack Center for the Las Vegas Metro Chamber of Commerce’s annual Preview Las Vegas event. Here is a recap of the highlights.
Tourism: The bad
Las Vegas Convention and Visitors Authority CEO Rossi Ralenkotter blamed a 1.7 percent decrease in annual visitors to the Las Vegas Valley in part on the Oct. 1 shooting.
He also credited a strong U.S. dollar for the decrease.
The valley saw 42.2 million visitors in 2017, fewer than the 43.2 million visitors predicted earlier on, he said.
Ralenkotter expects 42.7 million visitors this year.
Tourism: The good
Clark County saw $3.44 billion in taxable retail sales in October 2017, a 3.8 percent increase year over year, with a large percent of those sales from tourist spending, RCG Economics’ John Restrepo said. The county hit a 10-year low in October 2010 with about $2.3 billion in taxable retail sales.
Ralenkotter said the valley saw a 5.2 percent increase in convention attendance last year and a 2.1 percent increase in revenue per available room.
O.J. Simpson is threatening to sue The Cosmopolitan over an incident at the resort last November.
The Las Vegas Review-Journal reports that in a letter to The Cosmopolitan, Simpson’s attorney Malcolm LaVergne claims the “casino staff, employees, agents, and other higher-level decision makers or affiliates, including STK Las Vegas and Clique Bar & Lounge, acted with malice and racial prejudice” toward Simpson.
The letter says Simpson could sue for at least $100 million.
What a haul!
Democrat Chris Giunchigliani has raised over $1 million in her bid to become Nevada’s next governor, her campaign announced Wednesday.
Since officially announcing her gubernatorial run in October, Giunchigliani has raised more than $800,000, according to her campaign. Combined with leftover campaign donations from previous Clark County Commission elections, Giunchigliani has more than $1 million on hand.
According to the Las Vegas Review-Journal, for Giunchigliani, continuing to raise serious cash will be important as her primary opponent, fellow county Commissioner Steve Sisolak, had more than $3.5 million by this past summer.