ZZZ - GMG - VEGAS INC 2011-2014

November 12, 2012

VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more

Issue link: https://www.ifoldsflip.com/i/93026

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NOVEMBER 12, 2012 / YOUR BUSINESS-TO-BUSINESS WEEKLY SPECIAL FOCUS TECHNOLOGY AT WORK This month, VEGAS INC examines the local tech industry and its impact on the economy. DEVELOPERS EYE VALLEY'S UNFINISHED BUILDINGS By Eli Segall staff writer A ll across the valley stand half-fin- ished buildings, abandoned construc- tion sites and boarded-up condomini- um projects. To many, the abandoned structures and shelved projects are reminders of Las Vegas' real estate bust. To a few, they signal opportunity. A handful of local developers are buying mothballed A STARTUP SUCCESS: Tommy Bell, founder of SalonShare.com, displays his company's website on an iPhone at his office Nov. 5. Bell raised $225,000 to launch the 9-month-old startup, which helps hair stylists book clients and sell products. His biggest investor is a local radiologist whom he met two yeas ago. WANTED: MONEY Las Vegas' budding high-tech sector is long on ideas, short on cash By Eli Segall staff writer 8byte8, WinTech and Mindelusions. ¶ But unlike in other regions, Las Vegas' tech industry is short on a key ingredient: money. T SEE STARTUPS, PAGE 15 he Las Vegas tech scene is a lot like other startup hubs around the country. ¶ Grown men in hoodies and sneakers tap away on laptops in coffee shops designing websites, iPhone apps and social media sites. Their companies' names consist of mashed letters and numbers and made-up words, such as STEVE MARCUS projects with plans to finish them. The deals have the potential for big profits, thanks to cheap prices and discounted con- struction costs since they're often par- tially built. But acquiring and finishing them is never easy. The process can take much longer and prove far more expensive than developers expect. And that's as- suming the buyers don't back out mid- way through the deal. "They can range from fairly difficult to borderline impossible," said Mike SEE PROJECTS, PAGE 16 INSIDE TODAY POP-UP SHOPPING | P. 6 Seasonal stores open for only a few months, but the work is year round A BUMPY RIDE | P. 20 Changes that are keeping airlines profitable don't sit well with passengers THE LIST | P. 22 Banks, ranked by local deposits

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