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Business
Feb. 29, 2008
Copyright © Las Vegas Review-Journal

IN BRIEF

Wynn dealers case goes to state Supreme Court

Two Wynn Las Vegas dealers who sued to challenge the hotel-casino's implementation of a controversial dealer tip-pooling program will have their case heard by the Nevada Supreme Court on April 7.

The hearing will be held in Las Vegas before the entire seven-member court.

Daniel Baldonado and Joseph Cesarz saw the lawsuit against their employer tossed in December 2006 by District Judge Douglas Herndon.


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    • The pair appealed the ruling.

    In September 2006, Wynn Las Vegas executives added more employees to the dealers' tip pooling, which reduced dealers take-home pay. Eight months after the program was implemented, dealers at Wynn Las Vegas overwhelmingly voted to approve representation by the Transportation Workers Union of America.

    Before the union vote, Wynn Resorts Ltd. Chairman Steve Wynn apologized to dealers, saying the tip pooling program had been a mistake. But he didn't eliminate the program.

    KANSAS CITY, Mo.

    Sprint Nextel posts big loss for fourth quarter

    Sprint Nextel Corp. showed more signs Thursday that its recovery will be long and painful as it recorded a massive fourth-quarter loss, predicted continued customer weakness and pulled the plug on paying dividends.

    Sprint Nextel, based in Overland Park, Kan., said it lost $29.5 billion, or $10.36 per share, in the quarter ended Dec. 31, reversing earnings of $261 million, or 9 cents per share, a year earlier.

    Revenue fell 5.8 percent to $9.8 billion from $10.4 billion.

    NEW YORK

    Treasury prices rally on economic news

    Treasury prices rallied sharply Thursday after new reports showed the economy barely moved forward at the end of last year and that jobless claims increased last week.

    The benchmark 10-year Treasury note rose 0.97 points to 98.22 with a yield of 3.72 percent, down from 3.85 percent late Wednesday.

    The 30-year long bond rallied 1.75 to 97.06 with a 4.56 percent yield, down from 4.66 percent the day before.



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    A.D. wrote on March 01, 2008 10:09 AM: The name of the union representing Las Vegas dealers is the Transport Workers Union of America.
    Please show them some respect by getting it right next time.


    NationsPatriot wrote on February 29, 2008 09:44 PM: Steve Wynn has NEVER apologized! Get your facts straight! In fact, he has refused to negotiate in Good Faith as Required by Federal Law! He has walked out on the "Negotiation Meetings" several times, and adamantly gloats over his decision. Where are you getting your news from? How about talking to those involved, instead of fanning the flames of this wannabe, self-aggrandized blowhard's delusion.