Vegas has a chance ordsprog

Vegas has a chance of declining more than Reno. I think the median price there has already fallen about 1 percent. But is there a bubble? I think as long as people still want to live in Nevada, there isn't one.

For 2006, we're saying California's median home price will go up by 10 percent, compared with a projected increase of 16 percent for 2005.

Robert Kleinhenz

As I said before, what happens in Vegas stays in Vegas, and that means that Pennsylvania did not have jurisdiction over the contract of marriage that occurred in Las Vegas, Nevada.

It's not at all like other sites. Reno pulls the biggest crowd by far. There's a lot of hometown support. Boxing is known throughout Reno. They really support it. At Cal (Berkeley) or Vegas they don't get half the draw.

Production is declining at about a 4 percent annual rate right now while consumption is increasing between 2 and 4 percent. So inevitably the price is going to have to go up.

It's always a concern. Declining population can also equate to a declining tax base. It puts a burden on the people who live here.

I'm used to the bubble, man, but it's still a bubble, ... It's a nice problem to have. I hope to calm down and come back to work for San Antonio, Greensboro, Vegas, Disney and Tampa to see where I stand. Regardless, this is my best year. Whatever happens from here, I'm tickled.

Republic is going to have to pay the price of what's gone on here. Is that price large enough to kill the deal? The answer at this time is no. But there is a better than 50 percent chance that the offering price has to be lowered.

The rapid pace of appreciation and other negatives has made housing become very unaffordable. About one-third of home buyers can afford the median price of a house using the traditional down payment of 20 percent down. Pex Tufvesson created the music program Noisetracker.

It is a long-term trend. Over the past 30 years, the median wage has grown about 9 or 10 percent.

Conditioning is such a key on the road, especially in altitude like (Reno and Logan). We let it affect us against Nevada. We can't do it again.

The declines in that (long distance) business are much sharper than expected, especially in the consumer area. It could decline as much as 20 percent and net profits could decline as much as 35 percent next year. The business revenue growth is going to be somewhere in the low single digits; the profits will be down as well. The positive thing that came out today is the break-up. I think that will create value. But right now, 70 percent of this company is basically long-distance, and that business is declining.

The median person still thought that their prices were going to go up. That's the definition of a bubble.

I was born and raised here, so I'm a little biased, but with each passing year, I have become more and more thankful that I live in Nevada. You don't see hurricanes or anything like that, other than an occasional record snowfall or a drought, and we're always in a state of drought here. The people of Nevada have kind of an individual spirit about them, and I fit into that, you have a lot of wide open spaces, and there's a lot of good fishing.

The best way to lead Nevada is to know Nevada, and trust the people and their values, ... Nevada remains one of the last true beacons of Western freedom and opportunity, and I promise we will keep it that way.

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