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This Week's Contents

One-person businesses generate big revenues
The 27,820 one-person businesses in the Reno-Sparks region generated more than $1.67 billion in revenue during 2006, the U.S. Census Bureau said last week. Real estate companies accounted for the largest single portion of the revenue — $409.9 million or 24 percent. Other big categories were one-person professional services companies, with nearly 5,000 firms generating $286 million in revenue, construction companies, with 1,748 firms and $134 million in revenue, and retail trade with 2,466 firms and $128.8 million in sales.

Banks assure customers, look to woo others
Competitors of the failed First National Bank of Nevada last week were assuring their customers that their money was safe at the same time that some banks began wooing customers of First National. Denny Williams, market president in Reno for Mutual of Omaha Bank, which took over the deposits of the failed bank, said the bank hadn’t lost a single business customer during the first few days after the failure and reopening. But it wasn’t because competitors weren’t trying. “We want to play offense in the marketplace, not defense,” said one of those competitors, Rudiger Merz, executive vice president of marketing for Nevada State Bank. “The opportunity is there.” The most recent figures available from the Federal Deposit Insurance Corp. show that First National Bank held 9.3 percent of the bank deposits in the Reno-Sparks area at the middle of 2007, and about a 6 percent share of the market in Carson City.

Transfer of funds
Denny Williams, the market president of First National Bank of Nevada in Reno, was wrapping up a round of golf with customers late on the afternoon of July 25 when he took a call from one of his employees. An official from the Federal Deposit Insurance Corp. was waiting at the bank, the employee said, and it might be a good idea for Williams to get back to the office as quickly as possible. When he got back, Williams learned the bank had been placed into receivership by the U.S. Comptroller of the Currency, and the FDIC would take control. Within an hour, a press release from federal regulators announcing the bank’s failure hit the nation’s news wires. Swarms of stone-faced FDIC staffers arrived at each of First National’s offices — three in Reno and Sparks, one in Carson City, six in Clark County, along with locations in Arizona and California — and began to methodically audit the bank’s books.

RR Donnelley building acquired

Sparks, Hispanic chambers wrap up merger agreement

Urology clinic readies its third location

D&D Roofing launches solar unit

Butcher Boy Meats files for Chapter 11 reorganization

Truck sales remain strong

New face for Peppermill

Massage Envy takes steps to stabilize Sparks

Humboldt County mine takes step to reopening

Lander County pitches open space to lure employers

Energy efficiency tops the menu at food bank facility

Business charity to be showcased