WHEN WILL WE SEE THE END OF THE STORM AND A GOLDEN SKY?

How is Las Vegas going to recover? How do we crawl out from this current double-digit unemployment and housing crisis we're experiencing? Once not so long ago they referred to us as the City Of The Future - a city filled with opportunity and growth. Now look at us, we're on are ass, and the future is looking somewhat bleak.

I have lived here over seventeen years and I have seen lots of change, but the one thing that hasn't changed enough is the diversification of our economy. We have not put enough effort into improving our schools and the big money from gaming and housing that was floating around for so many years was never used to expand UNLV into the kind of University that has an ability to recruit high-profile professors allowing expansion of course material and R&D Departments - major components needed to create an educated workforce that offers opportunities to compete with other cities for Hi-Tech industries that are relevant to the information age.

When there were a few hundred thousand people living in Las Vegas it might have been okay to rely on one industry to drive the economy. Now that we have become a city of nearly two-million we can no longer afford to rely solely on the business of gaming and selling rooms and space for conventions?

How do we find the road that leads back to prosperity? How can we sidestep the same mistakes that other cities made that relied on one industry? Are we going to go the way of Detroit, a once prosperous city that fell on hard-times way back in the Seventies and never recovered because it couldn't keep up with the innovations of the Japanese Car-Makers?

The world has changed and Las Vegas has changed with it. Tourism is down. People are spending less. Over time tourism will probably recover. After all there's nothing on earth like this place and just about everybody wants to come here at least once before they die. The Slogan "What Happens In Vegas Stays In Vegas," will continue to lure the naughty restless ones, the adventurous ones and the curious ones.

As tourism slowly recovers what will happen to construction? No builder in their right mind is going to develop homes here until the banks and brokers clear the slate of REO'S and Foreclosed residential properties. No one is going to develop commercial property until empty warehouses and vacant office and retail stores fade into history.

Las Vegas has to step up its game. We have to demonstrate to the country and the world that we are in fact the best place to visit and a good place to live for fun and for business.

An integral part of saving the future of this city is putting the pedal to the metal on expanding the convention business which will lead to larger business opportunities like the World Market Center and the planned Diamond Center. The more we expose the city to organizations and people the more likely they are to take a shot at expanding here.

We have to make sure to get them here and not allow them to go to other places like Orlando for Convention. Do whatever it takes. Lower room rates for conventioneers. Build more state of the art convention complexes. Expand the Monorail or bring in Light Rail. Improve Downtown so it looks like a real inner-city instead of an afterthought. .

The World Market Center has been a great success and great successes should be capitalized upon. We also need to more than to just build on what we have.
The revenues garnered from our proven industries should be used to spider out into other new businesses and industries. We need to diversify. We need to continue on building the City Of The Future. Look at the skyline and you will know that the mythology of the Las Vegas creative spirit is not a lie. Although it is suffering the spirit is none the less alive.

Again, we need better education. Our K-12 and higher education systems are low on the spectrum - one of the worst in the nation. It's a disgrace. We need to stress education to our children so we can grow and recruit a high-caliber student body in our High Schools and our Universities. We need to command the respect and attention of the academic world.

A community effort must be made to convince our children to go to college instead of going to dealer school or working valet after they finish high school. To survive requires the ability to adapt and innovate. Innovation comes from entrepreneurialism. We have to fill the future with an entrepreneurial class. We already have a history and a culture filled with risk takers which is one of the main components of entrepreneurialism. The remaining gap needs to be filled in with education and that combination will surely lead us down the path of creativity and innovation.

If you are having property problems of any kind please contact me - Rob Basichis. I have been working with people on Loan Modifications and Short Sales for several years. I can be contacted by phone at 702-279-8025