Real Estate Daily News Buzz – December 13, 2014

Reserve & White house Real Estate Daily NewsReal Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you time. Here you will find the headlines and what the news buzz for the day will be.

On Friday, the Dow Jones Industrial average fell 7.71 points, or less than 0.1%, to close at 16,437.05. The Standard & Poor’s 500 index rose 4.24 points, or 0.2%, to 1,842.37. The NASDAQ composite rose 18.47 points, or 0.4%, to 4,174.66. Benchmark U.S. oil for February delivery gained $1.06 to $92.72 on the New York Mercantile Exchange.

US ECONOMY ADDS 74K JOBS; RATE FALLS TO 6.7%
WASHINGTON (AP) — It came as a shock: U.S. employers added just 74,000 jobs in December, far fewer than anyone expected. This from an economy that had been adding nearly three times as many jobs for four straight months — a key reason the Federal Reserve decided last month to slow its economic stimulus. Economists struggled for explanations: Unusually cold weather. A statistical quirk. A temporary halt in steady job growth. Blurring the picture, a wave of Americans stopped looking for work, meaning they were no longer counted as unemployed. Their exodus cut the unemployment rate from 7% to 6.7% — its lowest point in more than five years. Friday’s weak report from the Labor Department was particularly surprising because it followed a flurry of data that had pointed to a robust economy.

RETAIL LIFTS EMPLOYMENT IN DECEMBER ADDING 49,200 JOBS
WASHINGTON – The National Retail Federation (NRF) issued the following statements from NRF President and CEO Matthew Shay and Chief Economist Jack Kleinhenz on the December jobs report: “The nation’s retailers continued to add to their payrolls in December even in the midst of the condensed holiday shopping season,” Shay said. “Retailers and merchants, especially those operating clothing and general merchandise stores, increased hiring, which may indicate a solid holiday sales season.” The National Retail Federation calculated retail industry job gains at 49,200 over November and 328,600 year-over-year. “While the employment gains were much lower than anticipated, gains were made and the economy seems primed for growth,” Kleinhenz said. “The shortened holiday calendar and severe weather in many parts of the country certainly impacted these figures but I suspect we will see upward revisions in the coming months.”

TARGET: BREACH AFFECTED MILLIONS MORE CUSTOMERS
NEW YORK (AP) — Fallout from Target’s pre-Christmas security breach is likely to affect the company’s sales and profits well into the new year. The company disclosed on Friday that the massive data theft affected millions more shoppers than the company reported in December. As a result of the breach, millions of Target customers have become vulnerable to identity theft, experts say. The nation’s second largest discounter said hackers stole personal information — including names, phone numbers as well as email and mailing addresses — from as many as 70 million customers as part of a data breach it discovered last month. Target announced on Dec. 19 that some 40 million credit and debit card accounts had been affected by a data breach that happened between Nov. 27 and Dec. 15. Some overlap exists between the two data sets, the company said.

OBAMA PICKS EX-BANK OF ISRAEL HEAD AS #2 AT FED
WASHINGTON (AP) — President Barack Obama took a step Friday toward reshaping the Federal Reserve under incoming chairman Janet Yellen, choosing a leading expert on the global economy to be her vice chairman. Obama said he will nominate Stanley Fischer, a former head of the Bank of Israel, for the No. 2 job at the Fed. Fischer, a dual citizen of the United States and Israel, was a long-time professor at the Massachusetts Institute of Technology. Departing Fed Chairman Ben Bernanke and Mario Draghi, the current head of the European Central Bank, were among his students. Obama also is nominating Lael Brainard as a Fed governor. Brainard served as the undersecretary for international affairs at Treasury during Obama’s first term. She left the administration recently. He also is renominating Jerome Powell to the Fed for a second term. All three nominations must be confirmed by the Senate.

COURT TO RULE ON TELEVISION OVER INTERNET SERVICE
WASHINGTON (AP) — The Supreme Court will decide whether a startup company can offer live television broadcasts over the Internet without paying fees to broadcasters. The high court agreed on Friday to hear an appeal from television broadcast networks in their attempt to shut down Aereo Inc., which takes free signals from the airwaves and sends them over the Internet to paying subscribers. Broadcasters have sued Aereo for copyright infringement. The big networks have supplemented their advertising revenue with fees from cable and satellite TV companies for redistributing their stations to subscribers. If customers drop their pay-TV service and use Aereo, broadcasters would lose some of that revenue. Aereo claims what it is doing is legal because it has thousands of tiny antennas at its data centres and assigns individual subscribers their own antenna. According to Aereo, that makes it akin to customers picking up free broadcast signals with a regular antenna at home.

GADGET WATCH: A DESK THAT TELLS YOU TO STAND UP
LAS VEGAS (AP) — Sitting down all day is bad for you, or so doctors say. There’s been a burst of interest in standing desks, but they’re not that easy to use, and it’s hard to motivate sitters to stand. Stir, a company founded by a former Apple engineer, says it has the answer: A table that will nudge you to stand, with a gentle, one-inch rise and fall of its surface. If you take the suggestion, the table rises to standing height. The table is controlled from a color touch screen. It looks as though someone has hammered an iPhone into the table’s surface. To change between sitting and standing positions, you tap it twice. You can program it to make you stand, say, 35 per cent of the time. A hidden heat sensor helps the desk determine whether you’re there. The screen also controls the table’s Bluetooth and Wi-Fi connections. They don’t do much right now, but the plan is for the table to connect to your smartphone to track your sitting and standing periods. One day, it’ll also connect fitness bands such as the Fitbit to help the table figure out when you should be sitting and standing.

PROPOSED MEDICARE DRUG CHANGE STIRS ACCESS WORRIES
WASHINGTON — In a move that some fear could compromise care for Medicare recipients, the Obama administration is proposing to remove special protections that guarantee access to a broad selection of three classes of drugs — widely used antidepressants, antipsychotics and drugs that suppress the immune system in organ transplants. The administration says the change will save millions of dollars without jeopardizing patients, but patient advocates say it guts longstanding protections.

THE CITY OF TUCSON TO SELL EXCESS LAND DOWNTOWN
The City of Tucson, Arizona has decided to sell off some excess land parcels downtown and invites bids for 3 development land parcels at the North East, South East and South West corners respectively of the new Kino Parkway Overpass and 22nd Street intersection. Deadline for offers is 4:00 P.M. MST, MONDAY, FEBRUARY 24, 2014. For more information click here: www.cbre.com/tucsonland

JC PENNEY, TRACTOR SUPPLY, WALMART CEOs JOIN NRF BOARD
NEW YORK, January 13, 2014 – The National Retail Federation today announced the election of six new members to its Board of Directors as retailers from around the globe gathered in New York for Retail’s BIG Show. The new additions will each serve a three-year term. “These executives are among the top thought leaders in the world of retail and will only strengthen an already diverse and well-respected board,” NRF President and CEO Matthew Shay said. “Their knowledge and experience will be invaluable as we address the many issues facing retailers at a time when our industry is rapidly changing.” The new board members include:

  • Beall’s CEO Steve Knopik
  • J.C. Penney Corporation, Inc. CEO Myron “Mike” Ullman
  • SAP Senior Vice President and Head of the Global Retail Industry Business Unit Lori Mitchell-Keller
  • Tractor Supply Company President and CEO Greg Sandfort
  • Utah Retail Merchants Association President Dave Davis
  • Walmart U.S. President and CEO Bill Simon

The retailers were elected to the board Sunday, the opening day of NRF’s 103rd Annual Convention and EXPO.




Real Estate Daily News Buzz – January 7, 2014

Reserve & White house Real Estate Daily NewsReal Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you time. Here you will find the headlines and what the news buzz for the day will be.

On Monday, the Dow Jones Industrial Average lost 44.89 points, or 0.3%, to close at 16,425.10. The S&P 500 fell 4.60 points, or 0.3%, to 1,826.77. The NASDAQ Composite Index shed 18.22 points, or 0.4%, to 4,113.68. Benchmark U.S. oil for February delivery fell 53 cents to close at $93.43 Monday in New York.

SENATE  OKAYs YELLEN TO LEAD FEDERAL RESERVE

WASHINGTON (AP) — The Senate Monday confirmed Janet Yellen as the first woman to lead the Federal Reserve, elevating an advocate of fighting unemployment and a backer of the central bank’s efforts to spur the economy with low interest rates and massive bond purchases.Yellen, 67, will replace Ben Bernanke, who is stepping down after serving as chairman for eight years that included the Great Recession and the Fed’s efforts to combat it. She was expected to win confirmation easily in Monday’s vote, with solid support from Democrats and backing from a sizable minority of Republicans. Vice chair of the Fed since 2010, Yellen begins her four-year term as leader of the century-old bank on Feb. 1. With the economy rebounding from the depths of the recession but only modestly so far, many economists expect her to focus on how to nurture growth without putting it into overdrive, which could risk fueling inflation.

RETAILERS ENDS 2013 WITH STRONG SALES

Sales the week before Christmas Day rose 1% over the previous week and 3% compared with the same week in 2012, according to the International Council of Shopping Centers-Goldman Sachs weekly retail tracking report. In more good news for retailers, consumers’ average share of holiday spending via gift cards reached 23.7% for 2013.

JANUARY 8TH MEMORIAL FOUNDATION ANNOUNCES PERMANENT MEMORIAL

TUCSON – This Wednesday marks the third anniversary of the tragic events in which six people were killed and 13 injured during the mass shooting in Tucson on January 8th, 2011.  Since that time, the January 8th Memorial Foundation was founded to establish a memorial to honor the fallen, the survivors, the first responders, and the Tucson community.  At today’s announcement, elected officials from both Pima County and the City of Tucson expressed their support for a permanent memorial to be located at the Old Pima County Courthouse, 155 N. Church Ave.  Details are listed at the Foundation’s Facebook page (link below). In addition, letters, cards, and other items left by citizens at community vigils after the shootings are on display this month at the Joel D. Valdez Main Library, the Nanini Branch Library, and the Eckstrom-Columbus Branch Library.

MEN’S WEARHOUSE BOOSTS BID FOR JOS. A. BANK

FREMONT, Calif. (AP) — Despite rebuked overtures on both sides, The Men’s Wearhouse and Jos. A. Bank could wind up together for better or worse. The courtship to combine the two men’s clothing companies has dragged on for months, with each chain having their offer to acquire the other rebuffed. And the saga to combine the two rivals took another turn on Monday when Men’s Wearhouse boosted its offer to acquire Jos. A. Bank to $1.61 billion. While the companies continue to play hard to get, analysts say a combination is inevitable. It would enable both chains to cut costs and boost profits in an increasingly competitive market in which shoppers are scrutinizing their purchases more. But so far executives have been unable to hammer out a deal despite interest on both sides.

US SERVICES INDEX SLIPS ON SHARP FALL IN ORDERS

WASHINGTON (AP) — U.S. service companies expanded at a steady but slightly slower pace in December as sales dipped and new orders plunged to a four-year low. The report suggests economic growth may remain modest in the coming months. The Institute for Supply Management said Monday that its service-sector index fell to 53 last month, down from 53.9 in November. Any reading above 50 indicates expansion. A measure of new orders plummeted 7 points to 49.4, the first time it has dropped below 50 since July 2009. A gauge of business stockpiles also fell sharply. But a gauge of hiring increased 3.3 points to 55.8, evidence that services firms are adding more jobs. That’s a good sign for December’s jobs report, which will be released Friday. The survey covers businesses that employ 90% of the workforce, including retail, construction, health care and financial services firms.

FACTORY ORDERS UP ON PLANES, BUSINESS SPENDING

WASHINGTON (AP) — U.S. factories orders climbed in November, led by a surge in aircraft demand. And businesses stepped up spending on machinery, computers and other long-lasting goods, a sign of investment that could fuel economic growth. Factory orders rose 1.8% in November, the Commerce Department said Monday. That follows a 0.5% decrease in October. Orders received by manufacturers totaled a seasonally adjusted $497.8 billion in November, the highest level on records dating to 1992. Orders have increased 2.5% over the past 12 months. The improvements could signal accelerating growth in 2014. Americans are buying more cars and homes, increasing demand for steel, furniture and other goods. That has led factories to hire more workers, generating additional economic momentum. Still, overall economic growth remains modest by historical standards. And though factory orders have strengthened in recent months, their growth rate has slowed during the recovery from the 2008 financial crisis.

REID PARK ZOO HAD SECOND-BUSIEST YEAR IN 2013

TUCSON – The Reid Park Zoo hosted 547,040 visitors last year, making it the second-highest attended year in the history of the Zoo (2012 saw record attendance with the opening of Expedition Tanzania). Last year’s highlights included the opening of Grizzly Crossing – a new habitat for two grizzly bear siblings rescued from Montana – and the addition of a pair of endangered black and white ruffed lemurs.

THERMO FISHER SELLING SOME ASSETS TO GE FOR $1.06 BILLION

WALTHAM, Mass. (AP) — Scientific instrument maker Thermo Fisher is selling its cell culture, gene modulation and magnetic beads businesses to a General Electric Co. division for approximately $1.06 billion. The businesses, which had combined annual revenue of about $250 million in 2013, will become part of GE Healthcare’s life sciences unit. GE said that the transaction allows it to expand its offering of technologies for the discovery and manufacturing of new medicines, vaccines and diagnostics in its life sciences business. The deal is expected to close in the first part of 2014. Thermo Fisher Scientific Inc. said Monday that it is selling the businesses to speed up European Commission approval of its pending $13.6 billion acquisition of Life Technologies Corp. The company said that deal still needs approval from the Federal Trade Commission, but that based on talks with the FTC, it doesn’t believe any additional asset sales will be needed to receive U.S. approval. Thermo Fisher said it is working with remaining jurisdictions to get the necessary approvals to complete the Life Technologies buyout as soon as possible. It still expects the deal to close early this year.

VERSO PAPER BUYING NEW PAGE IN $1.4 BILLION DEAL

NEW YORK (AP) — Coated papers maker Verso Paper is buying NewPage Holdings Inc. in a deal valued at $1.4 billion including debt. Privately held NewPage produces printing and specialty papers. Verso President and CEO David Paterson said in a statement on Monday that the buyout will put it in a better position to face increased competition. Paterson will lead the combined company, which will have 11 manufacturing plants in six states and sales of about $4.5 billion. The deal was unanimously approved by both companies’ boards. It is targeted to close in the second half of the year.

T-MOBILE TO BUY SPECTRUM LICENSES FROM VERIZON

BELLEVUE, Wash. (AP) — T-Mobile said Monday that it’s reached deals to buy spectrum licenses from Verizon Wireless for $2.37 billion in cash, allowing it to improve certain kinds of cellular service in markets across the U.S. The agreements also include the transfer of other kinds of spectrum licenses from T-Mobile to Verizon Wireless that the companies value at about $950 million. The deals, combined with T-Mobile’s existing holdings, will give T-Mobile low-band spectrum in nine of the top 10 U.S. markets. Low-band spectrum boosts cellular coverage inside buildings and in rural areas. It also has the ability to travel greater distances than high-band spectrum, making it a more efficient way to provide coverage at the edge of cities and in less densely populated areas. Combined with T-Mobile’s existing holdings, the low-band spectrum will cover about 158 million people in U.S. markets including New York, Los Angeles, Dallas, Houston, Philadelphia, Atlanta, Washington, D.C., and Detroit.

WORKERS SEIZE BOSSES AT GOODYEAR SITE – IT’S A FRENCH THING

PARIS (AP) — Monday’s meeting in northern French city of Amiens was not going well. As farm tires blocked the doorway, two Goodyear managers were trapped in a conference room with angry French workers who were demanding more money in exchange for the inevitable loss of their jobs. Goodyear has tried to shutter the plant in Amiens for five years without success. Its latest attempt was met Monday with a “boss-napping” — a French negotiating tactic that had largely faded away after the height of the economic crisis in 2009. More theatre than actual threat, it aims to grab management’s attention — by grabbing management. Late Monday, one of the captive managers decried the tactic as degrading and humiliating. The Amiens plant has an especially contentious past. Goodyear’s hopes to close the plant have been thwarted by violent protests with huge bonfires, government concerns and France’s prolonged layoff procedures. Now, the union is willing to accept the inevitable loss of jobs — but at a cost.

REAL ESTATE FIRMS REGISTER HIGHEST YEAR-END BONUSES IN CHINA

The highest year-end bonuses in China were given to employees in the finance, real estate and internet sectors, reports our sister paper Want Daily, citing market research figures.  Over half of all Chinese companies will increase their year-end bonus from 10% to 20% this year, while only one tenth of the companies will decrease their bonus amounts. Most companies, meanwhile, hope to consolidate the structure of their human resources by granting year-end bonuses and prevent their employees from leaving the company for new opportunities after the Lunar New Year, the report said.  The highest year-end bonuses, according to the report, was given to a real estate agent who sold 400 million yuan (US$66 million) in properties last year, receiving a bonus of around 5 million yuan (US$826,290). Sources said that it is common for real estate agents to receive large bonuses, with Chinese property firms posting strong sales last year. Analysts forecast that the situation is set to continue to improve in 2014, and most real estate companies jumped at the chance to reward and motivate their employees. Meanwhile, figures showed that 27% of foreign enterprises chose to decrease their year-end bonuses because they were influenced by the fluctuating international economy.

CITY OF TUCSON CLOSELY MONITORING TCC CONCESSION AND CATERING CONTRACTOR

TUCSON –  Tucson City Manager Richard Miranda says recent health and safety concerns uncovered by the City at the Tucson Convention Center need to be remedied by Aramark, or the contract with the company could be terminated, perhaps as early as March. Aramark’s five-year contract with the City expires in 2016, but the City has an annual option to renew or cancel it. The Pima County Health Department didn’t find any problems during inspections last October, but a City inspection team found numerous violations on Oct. 24.  Meanwhile, the City of Tucson has a Request for Proposal to search for a private management team to operate the TCC.

SALVATION ARMY BUILDING FACILITY TO HELP TUCSON’S HOMELESS

TUCSON – The Salvation Army is beginning construction today on the New Hospitality House, which it expects will help more people, families and veterans, including those with disabilities and special needs.  The new shelter will offer more than 100 beds. The Salvation Army says it has $2 million to start building. The first phase of the construction will cost an additional $5.8 million, funded by loans, which will be repaid via donations. The new shelter will be built next to the current Hospitality House, near 11th Ave and 1st Street.




Real Estate Daily News Buzz – November 9, 2013

Reserve & White house Real Estate Daily NewsReal Estate Daily News Buzz is designed to give news snippets to readers that our (yet to be award winning) editors thought you could use to start your day. They come from various business perspectives, real estate, government, the Fed, local news, and the stock markets to save you time. Here you will find the headlines and what the news buzz for the day will be.

The Dow Jones Industrial average rose 167 points, or 1.1%, to close at 15,761 on Friday. The Standard & Poor’s 500 rose 23 points, or 1.3%, to 1,770. The NASDAQ composite rose 61 points, or 1.6%, to 3,919. The price of oil rose 40 cents Friday to close at $94.60 a barrel.

SURPRISE! US ADDED 204,000 JOBS IN OCTOBER

WASHINGTON – Despite all the warning to expect the contrary, a burst of hiring in October added a surprisingly strong 204,000 jobs to the economy in a month when the government was partly shut down for 16 days. And employers added far more jobs in August and September than previously thought. The unemployment rate rose to 7.3% from 7.2% in September, the Labor Department said Friday. But that was likely because furloughed federal workers were temporarily counted as unemployed. The surge in jobs shows the economy was stronger in October than many economists had expected. Activity at service companies and factories also accelerated last month, an earlier report showed. The figures signal that many U.S. companies didn’t bother or perhaps liked  the government partial shutdown.

TUESDAY NOV 13: TUCSON EMPLOYEE COMPENSATION AND FY13 FINANCIALS ON AGENDA

TUCSON – At their Study Session next Tuesday, November 13th, Mayor and Council will hear a report from staff on preliminary unaudited FY 2013 financial results for the General Fund and provide an update on the 1st quarter General Fund financial results. This report will show a General Fund fund balance of about $54M, which is about $8M less than the previous year. At their Study Session November 26th, M&C is expected to consider three possible increases to employee compensation upon review of fund balance information contained in this report. M&C memo on preliminary unaudited FY 2013 financials: https://1.usa.gov/195PJ6u

STITELER EXPECTS TO BREAK GROUND ON 7-STORY, 150-ROOM HOTEL

TUCSON – Developer Scott Stiteler says his upcoming downtown hotel project, a 150-room, seven-story tower at the Northwest corner of Fifth and Broadway, is now about two months into its design phase. The hotel, tentatively to be called AC Tucson, will reflect the European boutique style of the AC Hotels brand, which Marriott acquired in 2010 and will soon reveal across the country, mostly in major urban centers like Manhattan, San Francisco, Chicago, and Miami. The average daily rate would be about $145, Stiteler told the Rio Nuevo board in July. Stiteler said the hotel is now about two months in to its design phase. Project leaders have traveled to Spain, the birthplace of the AC brand. He expects construction to begin this summer, with the hotel completed about a year and a half later.

BERNANKE: FED HAS GREATER POWER TO COMBAT CRISISES NOW

WASHINGTON (AP) — Chairman Ben Bernanke says the Federal Reserve is drafting rules to close large insolvent banks without bringing down the broader financial system, one of many steps regulators must take to prevent another financial crisis. Bernanke says the absence of a process to deal with systemically important institutions in 2008 left regulators facing the “terrible choices of a bailout or allowing a potentially destabilizing collapse.” Bernanke is making the comments at a conference sponsored by the International Monetary Fund Thursday. The financial overhaul law passed by Congress in 2010 gave regulators better tools to close down large financial institutions, he said. The Fed and other regulators are working to implement those rules now.

SAC CAPITAL PLEADS GUILTY IN $1.8B DEAL

NEW YORK (AP) — SAC Capital Advisors has pleaded guilty to criminal fraud charges in a record $1.8 billion deal with the government. The company’s longtime general counsel Peter Nussbaum entered the plea to wire fraud and securities fraud Friday in Manhattan. But a federal judge didn’t immediately accept the plea, saying she’d wait until a probation report is made. The plea comes four days after the federal government announced it had reached a deal requiring the largest penalty ever for insider trading. The deal requires the Stamford, Conn.-based hedge fund to close its business to outside investors. It also allows prosecutors to continue its criminal investigation and spares no individuals from scrutiny, including its founder, Steven A. Cohen. Cohen was accused by federal regulators over the summer in a civil action of failing to prevent insider trading at the company. He has disputed the allegations.

US CONSUMER SPENDING SLOWS TO 0.2% GAIN

WASHINGTON (AP) — U.S. consumers slowed their spending in September, even as overall income grew at solid pace for the second straight month. Consumer spending rose 0.2% in September, after at 0.3% gain the previous month, the Commerce Department reported Friday. Americans cut spending on long-lasting manufactured goods 1.3%. That partly reflected a drop in auto sales. Labor Day weekend auto sales were counted in August. Income rose 0.5% in September, matching the August gain. The increases in both months were the strongest since February. September’s gain was helped by the end of government furloughs, which had reduced federal pay in the previous two months. The gain in income and the slowdown in spending meant consumers saved 4.9% of their after-tax income, up from 4.7% in August.

DALLAS FIRM TO BUILD BRAIN TREATMENT INJURY CENTER IN SURPRISE

SURPRISE, AZ – A $15 million medical facility specializing in the rehabilitation of traumatic brain-injury patients would bring 125 new jobs to the city by fall 2016 under an agreement expected to be approved next week by the City Council. The deal, with Dallas-based Cobalt Medical Treatment, would pave the way for construction of a 50,000-square-foot Advanced Rehabilitation Center on an approximately 5-acre undeveloped tract off Bell and Dysart roads. Surprise officials would use $160,000 from the city’s economic-development contingency fund to pay fees associated with the project, including development review, civil construction review, civil permit, building permit and plan review. The firm must obtain a certificate of occupancy by Aug. 1, 2015. “A project like this aligns perfectly with the Council’s Strategic Plan,” said Mayor Sharon Wolcott after the plan was presented by officials from the city and Cobalt to the council Tuesday night at City Hall, 16000 N. Civic Center Plaza. “Job creation and the recruitment of new health care operations are cornerstones of the plan.” Full story

MOHAVE COUNTY DECIDES AGAINST WOULD-BE DEVELOPERS

KINGMAN – The Mohave County Board of Supervisors may have put the final nail in the coffin of any commercial development on 285 acres of the former Silverado master planned community. The Board unanimously denied allowing developers more time to meet the conditions of rezoning the property from residential to general commercial/highway frontage after hearing from three residents opposed to the extension Monday. The land is located along both sides of U.S. 93 between Hidden Valley Drive and Hackberry Road. See full story in the Daily Miner.