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IN BUSINESS THE ECONOMY AMERICAN-US AIRWAYS MERGER COULD LEAD TO HIGHER PRICES irline analysts are growing more confident that American Airlines and US Airways will merge — a move that probably wouldn't have a big impact on Las Vegas' flight schedules but could force ticket prices to go up. By Richard N. Velotta senior staff writer A US Airways fueled merger specula- tion when the suburban Phoenix-based airline announced it had reached deals with three American Airlines unions on conditional labor agreements. US Airways executives downplayed the significance of the deals, saying a merger, if viable, is still a long way off. The Allied Pilots Association, could head off the AMR alternative. Lawyers for AMR are in court this week and filed a motion seeking the elimination of $990 million in union contracts. Analysts have said a merger could save many jobs because there's little competitive crossover between Ameri- can and US Airways. That's particularly true in the Las Vegas market. At McCarran, US Airways and Ameri- can don't compete on a single route. Because of that lack of crossover, a new American Airlines would be less inclined to pare flights from the Las Ve- gas schedule, analysts say. the "Both American and US Airways are Transport Workers Union and the As- sociation of Professional Flight Atten- dants reached agreements. That's good news for most of the 175 American employees in Las Vegas, who are among the 13,000 airline workers company AMR Corp.'s restructuring plan filed in U.S. Bankruptcy Court in New York. A merger with US Airways COURTS WYNN MOVES TO GARNISH ASSETS OF 'GIRLS GONE WILD' FOUNDER By Steve Green senior staff writer C process and defamation. asino giant Wynn Las Vegas LLC is moving to garnish certain assets of "Girls Gone Wild" founder Joe Francis as their fight over a $2 million gambling debt heats up. Wynn filed a lawsuit in Las Vegas Houston has vowed to appeal the $7.5 against Francis, his attorney David Houston of Reno and several Francis million verdict. companies in the garnishment effort. The suit was filed under seal, or at least temporarily hidden from public inspection. But two related unsealed court documents indicate the garnishment attempt pitting company CEO Steve Wynn. In October, Court upheld Wynn's judgment is related to other lawsuits Francis against Wynn and the Nevada Supreme against Francis over $2 million moving or transferring assets. the unpaid debt, called a marker, dating to a 2007 gambling excursion. In November, Francis filed suit federal court in in Los Angeles against Wynn Las Vegas, charging that a related criminal prosecution against him over the unpaid debt prosecution, conspiracy, | 30 APRIL 2012 | involved malicious abuse In an order signed April 18, Clark County District Court Judge Elizabeth Gonzalez granted in part the request for a temporary restraining order, but it's unclear exactly what she granted. She denied Wynn's request of Wynn wanted attached. 9 for a "prejudgment writ of attachment," but again it wasn't clear on what exactly • The lawsuit filed April 18 by attorneys for Wynn included an application for a "writ of attachment and writ of garnishment'' without notice order and to Francis and a motion for a temporary restraining injunction. creditors preliminary Such requests are typically filed by in hopes of gaining court orders preventing debtors from selling, • • The current owner of the Mineral Ridge LLC Collateral is Golden Phoenix Minerals, Inc. (Debtor). Debtor has pledged the Mineral Ridge LLC Collateral to secure a loan. According to publicly available information provided by the operator of Mineral Ridge LLC, Mineral Ridge LLC is the owner and operator of the Mineral Ridge gold project located in Esmeralda County, Nevada, approximately 4.5 miles northwest of the town of Silver Peak, Nevada and 35 miles southwest of the town of Tonopah, Nevada. The Mineral Ridge gold project is located in Townships 1 and 2 South, Ranges 38 and 39 East. The Mineral Ridge gold project consists of 54 patented claims, 486 unpatented lode claims and one unpatented millsite claim totaling approximately 9,945 acres. Additional information regarding the Mineral Ridge gold project can be found at www. scorpiogold.com and at www.goldenphoenix.us.com. Mineral Ridge LLC is governed by an Operating Agreement, dated as of March 10, 2010, and an Exploration, Development and Mining Joint Venture Members' Agreement and Limited Liability Company Operating Agreement, dated December 31, 2009, as amended or modified, and a buyer of the Mineral Ridge LLC Collateral would be subject to such agreements. The Mineral Ridge LLC Collateral is subject to an Option Agreement in favor of the Secured Creditor, whereby the Secured Creditor has an option to acquire the Mineral Ridge LLC Collateral at the price and on the terms and conditions set forth therein. The Option Agreement is on record in Esmeralda County, Nevada, Document No. 0184970, Book 310, Page 231, recorded on November 10, 2011. The Mineral Ridge LLC • Collateral will remain subject to the Option Agreement following any sale. The terms of sale will be cash, cashiers check or wire transfer • of immediately available U.S. funds. The Secured Party reserves the right to credit bid for the Mineral Ridge LLC Collateral. The sale will be conducted as a sale of the entirety of the Mineral Ridge LLC Collateral. The sale of the Mineral Ridge LLC Col- lateral shall be subject to the other terms and conditions set forth in the memorandum of sale and in any other instruments of transfer to be delivered in connection with this sale. The Mineral Ridge LLC Collateral will be sold AS IS, WHERE • • IS. There is no representation or warranty, express or implied, relating to title, possession, quiet enjoyment, merchantability, suitability, fitness for a particular purpose or the like, or any other representation or warranty arising by statute or by com- mon law, in this sale. The Secured Party expressly disclaims any such representation or warranty. The Secured Party reserves the right to refuse any bid for any reason whatsoever and the right to postpone, adjourn, delay, discontinue or cancel the sale at any time and for any reason whatsoever. All bidders must pre-qualify at least five (5) business days in advance of the sale as to their bona fide interest by submitting a written expression of interest, which will identify the purchaser together with evidence of sufficiency of funds to immediately consummate the sale and a deposit. Other conditions for participation in the bidding process are available upon request. Additional information, including the full Notice of Disposition, and other information regarding the Mineral Ridge LLC Collateral, sale process and the bidding procedures are available by contacting counsel for the Secured Party, Tom McNamara, Davis Graham & Stubbs LLP, 1550 17th Street, Suite 500, Denver, Colorado 80220, Tele.: (303) 892-7349, E-mail: tom.mcnamara@ dgslaw.com. Then, in February, a Las Vegas judge ordered Francis to pay Wynn Las Vegas and Steve Wynn $7.5 million in a Wynn defamation suit. That case involved claims by Francis deceived his high-end customers. Consumer advocates have a different worry — that the price of the average once the dominant air carrier at McCa- ment would not allow either to become the dominant market player. rran, shrank in its merger with US Air- ADVER TISEMENT NOTICE OF FORECLOSURE SALE OF INTEREST IN MINING COMPANY Pursuant to Article 9 of the Nevada Uniform Commercial Code, Secured Creditor Waterton Global Value, L.P. (Secured Creditor) or its designated agent will sell 300 Member Ownership Interests of Mineral Ridge Gold, LLC (Mineral Ridge LLC), a Nevada limited liability company, represented by share certificate No. 2 and representing a 30% ownership, as further described below (the Mineral Ridge LLC Collateral), to the highest qualified bidder in a public sale as follows: April 30, 2012 10:00 a.m. local time that Wynn had Lionel Sawyer & Collins | 1700 Bank of America Plaza 300 South Fourth Street | Las Vegas, Nevada 89101 operating with at- or near-maximum routes in the past four years, modifying the company's business model to focus on higher yields and hub flying instead of leisure market routes that were pop- ular when the airline operated as Amer- ica West Airlines. load factors," said Bob Herbst of Airline- Financials.com. "As such, it is unlikely their merger would cause reductions in labor forces, with the exception of some who could lose their jobs under parent mid- to upper-level management posi- tions." The end result was that America West, ticket will climb, because less competi- tion usually translates to higher prices. Las Vegas is particularly vulnerable to price fluctuations because it's one of the lowest-yielding markets in the coun- try. The majority of its customers are lei- sure travelers and not higher-spending business customers. Las Vegas is somewhat insulated from price spikes, however, because Southwest is the dominant player in the market and some other significant low- fare airlines — JetBlue, Virgin America and Frontier, for example — have a pres- ence here. US Airways' management has had no qualms about cutting less profitable ways and became a second-tier player in Las Vegas under its new philosophy. US Airways CEO Doug Parker has been an advocate for industry consoli- dation and mergers and would be the presumed head of the new Fort Worth, Texas-based American. "The easiest way to fight volatile fuel prices is not with market-share battles and double-digit growth in hypercom- petitive markets during a recession, but with less capacity," Daniel McKenzie, an analyst with Rodman & Renshaw, said in a report to investors. Analysts say American's survival may depend on a merger and, by process of elimination, US Airways is the likeliest partner. Some have identified JetBlue as a pro- spective merger partner, but most ana- lysts think Parker's drive would push US Airways to be the lead prospect. They say Delta and United wouldn't be in the running because the Justice Depart-