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Colorado - Thu. 05/14/26 |
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SENATE CONFIRMS KEVIN WARSH AS FED CHAIRMAN ON PARTY LINE VOTE
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The U.S. Senate, on Wednesday, confirmed Kevin Warsh as the Federal Reserve’s 17th chair Wednesday in a party-line vote. Warsh won confirmation 54-45. No Fed chair has been confirmed by such a narrow margin since Senate approval became a requirement for the job in 1977. Chair Jerome Powell, whose leadership tenure ends Friday, captured at least 80 votes in Senate confirmations for each of his two terms atop the Fed. The previous chair, Janet Yellen, was confirmed 56–26 in 2014, with many senators absent because of bad weather. Warsh, age 56, has been immersed in monetary-policy debates for decades, frequently as an outspoken critic of the Fed. A former Morgan Stanley investment banker, he became the youngest Fed governor in history at 35 when former President George W. Bush appointed him to the central bank’s board in 2006. The Senate already confirmed Warsh to the Fed’s seven-member board of governors on Tuesday.
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BLM RESCINDS CONSERVATION-USE REQUIREMENT ON BLM LANDS
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On Tuesday, May 12, the U.S. Dept. of Interior posted its final decision rescinding the Bureau of Land Management’s Conservation and Landscape Health Rule, also known as the Public Lands Rule, which mandated conservation the same priority for use on BLM land as energy development, grazing, timber production, recreation and other uses. The BLM manages around 245 million acres of public lands in the U.S., including 8.3 million acres in Colorado. It also manages 700 million acres of subsurface mineral estate across the country and around 27 million subsurface acres in Colorado.
Uses on BLM land were documented in the Federal Land Policy and Management Act of 1976, which established the BLM’s multiple-use mandate. The 1976 law tasked the BLM with managing the following “principal or major” uses: recreation, range, timber, minerals, watershed, wildlife and fish and natural scenic, scientific and historical values. While it required the agency to balance these uses in a way that avoided permanently impacting land productivity and the quality of the environment, it did not explicitly list conservation as an official use to be considered until the Public Land Rule was implemented.
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GLENWOOD SPRINGS CELEBRATES GRAND OPENING OF 6TH ST. & NORTH LANDING
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The City of Glenwood Springs will celebrate the grand opening of the newly renovated 6th Street and North Landing public space with a community ribbon cutting today, Thursday, May 14, at 4:30 p.m. at North Landing, at the intersection of 6th and Pine streets. Community members, project partners and visitors are invited to attend the celebration to help commemorate the completion of two long-awaited community enhancements. Brief remarks from Mayor Marco Dehm and Downtown Development Authority Chair Charlie Willman will kick off the event at 4:30 p.m. followed by a community ribbon cutting and photo, light refreshments and a performance by the Glenwood Springs High School Jazz Band on the North Landing Stage. Sixth Street businesses also plan to host festivities around the event as part of a neighborhood block party. All are invited to join in the fun. For more information, e-mail bryana.starbuck@cogs.us.
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NEW STUDY FROM COLO. SCHOOL OF MINES: MORE ISSUES FOR WATER RIGHTS/USERS
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A new study from Colorado School of Mines economist Steven Smith and climate change researcher Adrienne Marshall, published April 30 in Nature Water, uses data from the headwaters region of the Rio Grande River in southwestern Colorado and calculations from changes in temperatures and other factors to indicate there could be more problems with water users. The warmer temperatures from climate change are causing more streamflow coming from rainfall rather than snowmelt. That tends to spread out runoff periods. That “evening out” of runoff increases drought impacts on those with junior water rights, who normally receive water only after senior water rights are fulfilled.
Using data from 70 years in the Rio Grande basin, the “spread” of water flows in some years can last 10 days longer than average and that greatly impacts the timing of water rights. According to Smith, “We were seeing a change where the junior irrigators were getting reduced by 20 percent of their water, whereas the seniors were getting 12 percent more water than normal,” even as the total amount of stream water over the course of the year stayed the same. “That was a pretty large swing for just this change.”
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LUNCH IN THE PARK: CIVIC CENTER EATS WILL HAVE FOOD TRUCKS ALL SUMMER
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This week, Civic Center Eats returned to Civic Center Park in Denver, with a bevy of food trucks offering great lunches from 11 a.m. to 2 p.m. on Wednesday and Thursday on Bannock Street and Civic Center Park Meadow. Civic Center Eats will continue through Oct. 15 with as many as 54 food trucks offering virtually something for everyone.
The summer schedule:
- Spring: 11 a.m.-2 p.m., May 13 – June 25
- Summer: July 8 – Aug. 27 • Fall: Sept. 9 – Oct. 15
- NO EATS on the following dates: 7/1, 7/2, 8/12, 8/13, 9/2, and 9/3
You can check out what trucks will be available each day at civiccenterpark.org/events/eats.
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SNOWMASS NOMINATED FOR CONDÉ NAST'S BEST SKI RESORT
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Voting is open for the Condé Nast Traveler 2026 Readers’ Choice Awards, where Snowmass is a contender for Best Ski Resort. Voting is open through June 30 and can be done at cntraveler.com/story/vote-readers-choice-awards. Snowmass is nominated for an award in addition to Viceroy Snowmass, Viewline Resort Snowmass, Wildwood Snowmass, Limelight Hotel Snowmass and the Stonebridge Inn. “Snowmass is such an incredible place to live, work, play, and visit, so to be recognized as one of the best places in the world to do so is a high honor indeed,” shared Sara Stookey Sanchez, Public Relations manager for Snowmass Tourism. Snowmass has been nominated and ranked in various categories for numerous years, according to Stookey Sanchez, taking the title of Best Ski Resort in the U.S. and Canada in 2023. “If Snowmass holds a special place in your heart, we’d be so grateful for your vote,” Snowmass Tourism wrote on its social media.
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SOUTHERN UTE GOVERNMENT BECOMES FIRST TRIBE TO SIGN FEDERAL ENERGY AGREEMENT
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The Southern Ute Indian Tribe signed a Tribal Energy Resource Agreement with the U.S. Dept. of Interior on Monday, becoming the first tribe in the nation to do so. Under the agreement, SUIT, through its Dept. of Energy, can approve and manage energy and mineral-related leases, agreements and rights-of-way on tribal lands without needing federal approval for each action. The agreement applies to oil, gas, coal, uranium or other energy and mineral resources on reservation land that the federal government manages in trust for the tribe. Over the past half-century, the Southern Ute Tribe has become a major energy producer and played a significant role in shaping federal energy policy to grant tribal governments increased sovereignty over their land.
The tribe established its own Energy Resource Division – now the Dept. of Energy – in 1980. Since then, it has overseen severance tax collection, royalty auditing in coordination with the U.S. Dept. of the Interior, and environmental review and compliance across thousands of energy-related facilities. The tribe’s energy department later assumed responsibility for lease auditing from the federal government. In the 2010s, tribal audits resulted in BP America paying $5.2 million in fines to the federal government for underreporting the amount of gas the company produced on Southern Ute land.
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- Durango Herald, 05.12.26
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MIKAELA SHIFFRIN, LIZ LEMLEY & MORE TO SPEAK AT EVENT IN AVON
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The Westin Riverfront Resort & Spa Avon, Vail Valley will celebrate the incredible accomplishments of our Vail Valley Olympians and Paralympians with an athlete panel discussion titled “Local Legends: Edge of Resilience” on Tuesday, May 19 featuring Olympic gold medalist Mikaela Shiffrin and others. Open to all, the event will take place at 5 p.m. in The Westin Riverfront lobby and will center on the athletes’ recent Olympic experiences. Held in partnership with SpeakUp ReachOut, Howard Head Sports Medicine and Healthspan, this event is designed to create meaningful dialogue around mental health, resilience and community support.
The Local Legends: Edge of Resilience athlete panel will include:
- Mikaela Shiffrin – 2026 gold medal in women’s slalom and 2026 World Cup overall winner
- Liz Lemley – 2026 gold medal in women’s individual moguls and bronze medal in women’s dual moguls
- Meg Gustafson – 2026 Paralympian representing Team USA and Ski & Snowboard Club Vail who achieved a top five giant slalom finish at the 2026 Winter Olympics
- Spenser Gustafson – 2026 Paralympic Guide representing Team USA and Ski & Snowboard Club Vail and a five ski discipline athlete
The Westin will be holding a community contribution raffle drawing as part of the event, with all proceeds directly benefiting SpeakUp ReachOut, a local nonprofit dedicated to reducing suicides through education, training and community support. The resort is currently participating in a 12-month H.O.P.E. (Helping Our People Elevate Through Tough Times) certification program to implement best practices for mental health, addiction recovery and suicide prevention. Lemley was recently named an ambassador at the Athletic Club at The Westin, joining resident athletes Shiffrin and triathletes Josiah Middaugh, Porter Middaugh and Sullivan Middaugh. They all train and recover at the 27,000-square-foot gym, spa and pool facility when they are home in Eagle County. Drinks and snacks will be available for purchase from The Westin Riverfront’s Lobby Bar and Gondola Market + Café. For more information, visit westinriverfront.com.
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- vaildaily.com, 05.12.26
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RODEO GROUNDS DESIGNATED LOCAL HISTORIC LANDMARK BY CITY PRESERVATION COMMISSION
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The Howelsen Hill Rodeo Grounds, Steamboat Springs Pro Rodeo Series and Brent A. Romick Arena at 401 Howelsen Parkway has been designated as a local historic landmark by the city’s Historic Preservation Commission. The May 11 designation recognizes the local importance of the rodeo grounds as a historic landmark and cultural and Western heritage site with over 100 years of colorful history. “The rodeo grounds are an example of the true history of Steamboat,” said Steamboat Pro Rodeo Series Chairman Brent Romick. “Knowing that we have a permanent home makes everything easier.” The historic designation cements the rodeo’s location at the base of Howelsen Hill and allows organizers to more easily secure funding. Whether through fundraising, grants or donations, Romick expects dollars brought in to double or even triple.
The next step for Romick is to keep expanding the entertainment offerings and start capital improvement projects that keep the grounds in top shape. “Rodeo is not going anywhere,” said Romick. “It’s an industry that’s constantly evolving but never dying.” This year’s pro rodeo series kicks off June 19, with events every Friday and Saturday night through Aug. 29. Doors open at 5:30 p.m. and competition starts at 7:30. “The grounds will be there when our grandchildren’s grandchildren are learning to calf rope and ride horses,” said Romick. “The spirit of the rodeo will endure.”
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- Steamboat Today, 05.12.26
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IRS WARNS OF SCAMS INVOLVING CP53E NOTICES
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Confusion about IRS CP53E notices is growing — and scammers are taking advantage. CP53E is an official IRS notice related to tax refunds and bank account information. As the IRS shifts from paper checks to direct deposit, it’s mailing these notices to taxpayers who may need to add or update their banking details. The IRS warns that fraudsters are sending fake versions of the notice in an attempt to steal taxpayers’ sensitive information. If you receive one, verify its authenticity before acting. Do not click links or scan QR codes. The IRS communicates by mail, not digitally. Visit irs.gov to verify and respond.
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- DWC CPAs and Advisors, 05.13.26
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IN THE BULLSEYE OF DROUGHT: COLORADO WATER MANAGERS STRESS WATER CONSERVATION
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Colorado water managers stressed the importance of water conservation during a talk last week about what homeowners should know as the state faces widespread drought following a winter with a record-low snowpack. Water managers representing Summit County, the Yampa River region, the Fairplay area and Lake and Park counties presented during the meeting on May 8. “The take-home message is we just experienced the warmest winter on record,” Summit County Water Commissioner Troy Wineland said. Almost the entire Colorado River Basin just had one of the hottest and driest winters on record. Throughout much of the Colorado mountains, the snowpack peaked about a month earlier than normal and the snow-water equivalent was roughly 8 inches lower than normal in places. The low snowpack means there is less water to melt off into streams and reservoirs, with roughly 15 to 40 percent of the average amount of water expected to flow through most streams.
- Most of northwest Colorado is under exceptional drought, or Level 4 of 4. By June, all of the Western Slope is expected to be at an elevated risk for wildfires.
- For the Colorado River Basin, drought conditions mean the river is expected to deliver less water than ever before to Lake Powell, which is the nation’s second-largest reservoir.
- In Summit County, low streamflows mean that the Dillon Reservoir, which is part of the water supply for Denver, isn’t expected to fill this year since it will be diverting water under the Continental Divide for use on the Front Range.
- Meanwhile, the Green Mountain Reservoir, downstream of the Dillon Reservoir, is at about one-third of its total capacity, and water levels are expected to continue to drop.
“What I would encourage is for you to share what you learned here today with your neighbors, your community, your friends, your homeowners association,” Wineland said. “If they have not implemented watering restrictions yet, I would encourage everyone to do that yesterday. For perspective, do you want to have green grass or do you want to have water in the rivers and water for the fish?” To view the full presentation, visit TinyURL.com/ColoradoWaterManagers and use the access code “d#Q89W38”.
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INFLATION SOARED TO 3.8% IN APRIL, DRIVEN BY GASOLINE PRICES
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Consumer prices rose 3.8 percent in April from a year earlier, a clear impact of higher gas prices since the start of the war with Iran. The figures, reported Tuesday by the Labor Dept., surpassed the previous month’s reported increase of 3.3 percent. Economists polled by The Wall Street Journal had expected inflation of 3.7 percent. The April increase was the highest in three years. Prices excluding food and energy categories rose 2.8 percent. That compared with forecasts for a 2.7 percent increase and was a pickup from 2.6 percent the previous month.
Over the month:
- Prices rose 0.6 percent in April from the previous month, in line with economists’ forecasts and slowing from 0.9 percent in March. Energy prices accounted for over 40 percent of the month-to-month increase.
- Energy prices were up 18 percent from a year earlier; within that gasoline was up 28 percent and fuel oil jumped 54 percent.
- Airfare prices rose 21 percent.
Wages and feelings:
- Inflation-adjusted average hourly earnings declined 0.3 percent in April from a year earlier. That marked the first time inflation outstripped annual growth in paychecks since April 2023.
- Consumer sentiment hit a record low in April, largely due to soaring prices at the pump.
How markets are reacting:
- U.S. stocks traded lower. The S&P 500 fell about 50 points, or about 0.7 percent.
- Higher energy prices could filter through to many other goods, with high transportation costs making food and clothing more expensive. A rise in natural-gas prices has already pushed up fertilizer costs, another strain on food prices.
- From a year earlier, food prices were up 3.2 percent. Coffee prices rose about 19 percent over the year, and fresh vegetables rose about 12 percent. Prices for tomatoes, which were already getting more expensive due to adverse weather conditions and President Trump’s tariffs, rose 40 percent over the year.
- Among the signs that tariffs continue to push up some prices, audio equipment jumped 5.8 percent from a year earlier and apparel was up 4.2 percent.
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- Wall Street Journal, 05.12.26
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MARKET UPDATE - 05/13/2026 Close
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(Courtesy of Alpine Bank Wealth Management*)
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Canadian dollar (per U.S. dollar)
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Mexican peso (per U.S. dollar)
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30-year fixed mortgage rate (Freddie Mac 05/07/2026)
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*Not FDIC insured. May lose value. Not guaranteed by the bank.
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Alpine Bank is an independent, employee-owned organization with headquarters in Glenwood Springs and banking offices across Colorado's Western Slope, mountains and Front Range. Alpine Bank serves customers with retail, business, wealth management*, mortgage and electronic banking services. Learn more at alpinebank.com.
*Alpine Bank Wealth Management services are not FDIC insured, may lose value and are not guaranteed by the bank.
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