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Colonial Bank Closed

A bank with several Las Vegas branches has failed. Regulators have shut down Colonial BancGroup Inc., a big lender in real estate development that buckled under the collapse of the market. It was the biggest U.S. bank to fail this year, with about $25 billion in assets.

The bank is also under a federal criminal investigation over its accounting processes relating to thousands of mortgages worth more than $1 billion.

Bank of America is suing Colonial Bank and on Thursday it won a restraining order barring it from getting rid of $1 billion in cash and loans. Bank of America claims Colonial is holding the money for another company that's directly tied to the Taylor, Bean and Whitaker mortgage company, which recently closed its doors.

(The Associated Press contributed to this report)

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School Police Investigate Missing Football Funds

Clark County school police are trying to find out what happened to thousands of dollars of funds raised by students in the football program at Coronado High School.

Head varsity football coach John Mannion says he thinks the money was stolen in late August from a cabinet in the football office. He says he's willing to reimburse the school.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

 

Walgreens Offers Free Medical Care to Unemployed

Thousands of Southern Nevadans are out of work and cannot afford health care. Now, there is a  new program that could help them by providing free medical care.

The Take Care clinics inside of Walgreens' stores are offering some help for those who need it most.

"I feel terrible," said Gavin Pring who has had better days. He thinks he might have strep throat.

"With guys we'll just wait and wait and hope it gets better." Pring has no steady job and no health insurance. He and his wife Megan usually go to a UMC Quick Care clinic and pay cash but with the Take Care clinics, they now have more options.

The Take Care clinics inside of Walgreens stores are offering free medical care to patients who have lost their jobs and their medical insurance.

Henderson Police Open New Station

Henderson Police have a new weapon in their fight against crime. The city's third police station formally opened Tuesday night. Officials say it will bring a strong police presence to a part of Henderson that needs it.

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Henderson City Employees to Take Unpaid Leave

The city of Henderson is adopting a furlough program after facing a bigger budget shortfall than expected.

City officials have approved a plan to save money which includes a second round of employee buyouts and to also have employees taken up to 12 days of unpaid leave. Those moves combined with a new holiday pay structure will save an addition $4 million.

High School Rezoning Decisions Revisited

Upset parents and students sounded off Thursday evening against the Clark County School District's rezoning plan. School district officials say they need to rezone in order to fix overcrowding. 

Student Carlene Saladino wants to take advantage of a school zoning plan option that would allow her the choice of where she'll go to school next fall. She doesn't want to change schools even though her school is overcrowded.

"I don't understand why a speed bump is being turned into a mountain," she said. "I urge you to consider what I have said and vote for the option to remain."

Due to overcrowding at nearly a dozen Clark County high schools, trustees decided last week to rezone.

Foreclosure Express A Big Draw For House Hunters

Las Vegas has become a Mecca for foreclosed homes and real estate agents along with banks are doing whatever they can to sell them to potential homebuyers -- like the Foreclosure Express.

Riders look at homes with prices ranging from $100,000 to $300,000. The homes were all in great shape, despite the misconception foreclosed homes are trashed.

The Realtors who run Foreclosure Express say this is the perfect way to get folks familiar with what's out there on the market. You'll find prices are reduced as much as 60-percent, and that's great news for those looking to buy.

"I have been coming out here since 2001 and right now these homes are a really good value the cost price ratio terrific," said passenger Tony Patire.

"They put together a great plan -- four houses we've seen in are great shape. Prices are definitely in ballpark of what we're looking at," said Byron Irvy.

Foreclosure Express runs about every week.