Previous Pages, January 2, 2012: Northern Nevada Leaders Share Lessons From Recession

Nevada Business Weekly.”/>

Cover of the January 2, 2012 print edition of Northern Nevada Business Weekly.

EDITOR’S NOTE: Each week we feature excerpts from articles published a decade ago to give readers a 10-year perspective of economic news in the region. This week’s stories were first published in the January 2, 2012 edition of the NNBW.

Lessons from the recession

“One of the worst things that could happen is that we would let a perfectly good recession go to waste and learn nothing that we could apply in the years to come,” NNBW staff wrote to present this cover story, which included quotes from three dozen northern Nevada executives on what they learned from the worst economic downturn in decades, in a series of installments here, here and here.

“The most important lesson I’ve learned about the recession is that it’s imperative to have a war chest,” said Steve Conine, president of Acustaff / TalentFramework. “I’ve made it my rule of thumb to have six months of operating expenses saved and cash so that in times of desperation the reserves are there to make sure there is some time to develop strategies and recover or retreat until things improve.

“Without that cushion of money, desperate measures may have to be taken in the short term that will ultimately cost you much, much more in the long run.”

– Page 1, by NNBW staff

Home appliance resale market on the rise despite reduced inventories

Truckee Meadows used home appliance dealers continue to see an increase in business from cost-conscious consumers looking to avoid the high prices of new home appliances.

They also benefit, as homeowners facing impending foreclosure sell their appliances, generating cash for the seller, creating inventory for dealers, and increasing demand from buyers of foreclosed properties who need appliances for their homes. . On the flip side, some dealers have struggled to source inventory as most major home retailers have started destroying older, energy-hungry appliances rather than making them available to the resale market. .

Rick Fernandes, co-owner of Teddy B’s at Sparks, says business is up 25-40% year-on-year as budget-conscious shoppers seek deals on refrigerators, washers, dryers and ranges.

—Page 1, by Rob Sabo

Circus Circus develops its mobile application

There is a sweet spot that is difficult to reach in the initial development of a mobile phone application for a hotel-casino, explains Aron Ezra.

On the one hand, the app needs to deliver enough content for potential users to download and use, says Ezra, vice president of mobile at Bally Technologies. On the other hand, the mobile app needs to leave room for growth and changes in direction as users decide how they want to use rapidly changing technology.

Ezra and the management team at Circus Circus Reno closely follow user experiences in the first few weeks after the downtown hotel and casino rolled out a mobile app developed by Bally Technologies last fall.

About 400 people downloaded the app around Christmas time, and Circus Circus was starting to ramp up its marketing with special offers available only through the app as well as a stronger push for its advertising media.

– Page 5, by John Seelmeyer

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