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Colorado - Fri. 01/09/26 |
A Free Business Publication from Alpine Bank
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JOB GAINS COOLED IN DECEMBER, CAPPING YEAR OF WEAK HIRING
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U.S. job growth slowed further in December, capping a year of sharply weaker hiring as employers added 50,000 jobs, below economists’ expectations for a 73,000 increase and slightly fewer than November’s revised gain. The unemployment rate edged down to 4.4 percent, though it has risen from 4 percent a year earlier. Employers added 584,000 jobs in 2025, or about 49,000 a month on average, marking the slowest pace of annual job growth since 2003 outside of recession years and a sharp deceleration from 2024. Economists said businesses that expanded rapidly after the pandemic are pulling back on hiring, leaving the labor market in a “low hire, low fire” pattern.
Job gains in December were concentrated in health care and leisure and hospitality, while retail, transportation and warehousing shed jobs. Hiring slowed amid higher costs, tariff uncertainty and expectations that artificial intelligence could reduce labor needs, even as economic growth and consumer spending remained resilient.
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XCEL ENERGY SEEKS NATURAL GAS RATE HIKE AFTER PROPOSING HIGHER ELECTRIC RATES
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Xcel Energy Colorado has asked state regulators to approve a natural gas rate increase that would raise the average residential bill by $7.59 a month, following a separate request for higher electric rates filed in late November. The utility is seeking $190 million in additional gas revenue to cover investments and higher plant related costs, including inspections of nearly 600 miles of aging transmission lines, infrastructure rebuilding and upgrades to regulator stations. If approved by the Colorado Public Utilities Commission, the gas increase would take effect in October, raising the average residential bill to $74.41, while small business bills would rise by about $36 a month.
The electric rate request would add $355.5 million in revenue and increase average residential electric bills by nearly 10 percent starting in September. Xcel says its rates have remained below the national average and notes expanded energy assistance programs, but the Utility Consumer Advocate criticized the timing and scale of the increases, calling them an “ever growing pancake stack” of rates that strain customers amid broader economic pressures. Regulators will hold hearings and take public comment on both proposals.
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ALASKA AIRLINES SETS OUT EXPANSION WITH LARGEST BOEING ORDER YET
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Alaska Airlines announced plans to purchase 110 new Boeing aircraft, marking the largest single order in the carrier’s history as it pursues an aggressive expansion and fleet modernization strategy. The deal includes 105 Boeing 737 MAX 10 jets and five 787‑10 Dreamliners, with options for 35 additional MAX 10s, and is expected to grow Alaska’s fleet from about 413 aircraft today to more than 475 by 2030 and over 550 by 2035. The wide‑body Dreamliners will support Alaska’s push into long‑haul international markets, including Europe and Asia, while the larger MAX 10s will strengthen domestic operations and replace older planes.
The order follows Alaska’s $1.9 billion acquisition of Hawaiian Airlines in 2024 and aligns with planned international launches to Rome and London. Alaska said the aircraft will provide the capacity and cost efficiency needed to integrate networks, add domestic frequencies and expand long‑haul service. The announcement comes as Boeing works to stabilize its 737 MAX program amid ongoing certification delays and regulatory scrutiny.
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HOW YOUR LOST BAG ENDED UP FOR SALE IN ALABAMA
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Every day, thousands of travelers make their way to Scottsboro, Alabama, to sift through lost luggage at Unclaimed Baggage, the only retailer in the US dedicated to selling unclaimed suitcases. While more than 99.5 percent of checked bags are reunited with their owners, those that go unclaimed after 90 days are sold to Unclaimed Baggage through long‑standing agreements with airlines and other transportation companies. The store processes more than 7,000 new items daily, pricing goods up to 80 percent off retail after sorting, cleaning, authenticating and appraising each piece.
Founded in 1970 by Doyle Owens, the business has grown into a major tourist attraction, drawing more than a million visitors annually. Beyond retail, about one‑third of incoming items are donated or recycled through the company’s foundation. Shoppers range widely, drawn by the thrill of discovery and the chance to give lost belongings a second life, turning personal loss into an unexpected cultural and commercial phenomenon.
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ASPEN GOLF CLUB ANNOUNCES CHANGES FOR 2026 SEASON
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Aspen Golf Club is rolling out several changes for the 2026 season aimed at improving tee time access and prioritizing primary residents, defined as those with a local driver’s license or state ID showing a local ZIP code. The municipal course will offer 100 fewer passes after tee time availability emerged as the top concern in 2025, and new booking limits will restrict pass holders to three tee times within any five-day period, or six within a 10-day window. Pass prices are increasing, with Platinum rising to $3,500, Gold to $2,500 and Silver to $1,700, reflecting both reduced availability and the shift to all-inclusive passes that now include golf carts and range balls.
Club officials emphasized that Aspen Golf Club operates as an enterprise fund without tax support, relying on pass sales, green fees and other revenue to fund operations and improvements, including a new digital tee time waitlist system. Primary resident verification is due by noon Jan. 30, with resident pass sales scheduled for mid-February and remaining passes opening to the public in March. To help residents learn more, the club will host an open house from 4 to 6 p.m. on Jan. 15 at Aspen City Hall.
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AJAX CUP RAISES $1.7 MILLION FOR ASPEN VALLEY SKI & SNOWBOARD CLUB
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The annual Ajax Cup fundraiser set a new record this week, raising more than $1.7 million for the Aspen Valley Ski and Snowboard Club during its 16th year at Aspen Mountain. The dual slalom competition featured 16 teams of five racers plus a professional skier and was supported by auxiliary events including a pro draw dinner, après party and paddle raise, surpassing the previous fundraising record by about $400,000. Organizers said the funds will allow AVSC to continue subsidizing nearly half the cost of its programs and provide more than $800,000 in direct financial aid to local athletes, supporting more than 3,000 participants across over 40 recreational and competitive winter sports programs.
The event drew strong community participation, with teams made up of current athletes, alumni and coaches, and included significant donations such as multiple $100,000 gifts during the paddle raise. Pro skier Wiley Maple led the winning team, Explore Snowriders, which received the Gorsuch Cup following the finals.
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BASALT’S MOVIELAND TO CLOSE AFTER MORE THAN THREE DECADES
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MovieLand 7, one of only a handful of movie theaters still operating in the Roaring Fork Valley, will stop showing films before the end of January, ending more than 34 years in business. The El Jebel theater opened in 1991 after real estate and entertainment entrepreneur Charles Moss relocated his family to the valley, envisioning the area as a future hub of activity. Moss, who also developed nearby commercial properties, died in September 2025. His son, Ben Moss, now leads Bow Tie Partners, a four‑generation family entertainment and real estate company that once operated about 40 theaters nationwide. That footprint has steadily shrunk since the COVID‑19 pandemic, leaving only two locations, in Basalt and Virginia.
The Basalt closure follows several years of operating losses driven by rising film exhibition costs, a reduced supply of movies, and declining attendance as streaming expanded. Despite financial challenges, MovieLand served as a community gathering space, hosting programs for Challenge Aspen and other local groups. Bow Tie Partners will retain ownership of the building and is considering future uses. The theater will mark its final days with screenings of “The Addams Family,” its first film, along with other titles from 1991 and recent releases.
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SKI PATROLLERS END STRIKE AGAINST TELLURIDE
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The longest ski patrol strike in U.S. history ended after 13 days when the Telluride Professional Ski Patrol Association voted to accept a new contract proposal from Telluride Ski Resort. The 72‑member union went on strike Dec. 27 after months of negotiations failed to resolve disputes over pay, citing a $65,000 gap between three‑year proposals and what it described as an unwillingness by ownership to fix a broken wage structure. In addition to higher wages, patrollers sought a new pay system designed to improve employee retention. Resort owner Telski presented a revised offer Tuesday, and the union approved it Thursday, though contract details were not immediately released.
Resort officials said the agreement represented a fair compromise and confirmed the mountain will begin a phased reopening, starting with Lift 4 on Saturday, followed by additional lifts and terrain. The union said patrollers are eager to return to work and expressed pride in the progress achieved through the strike.
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THERE’S A NEW CHAIRLIFT AT MONARCH MOUNTAIN — A FIRST SINCE 1999
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Monarch Mountain has installed its first new chairlift in more than 25 years, expanding skiable terrain onto the western side of the Continental Divide. The three-person Tomichi Lift climbs 1,000 vertical feet and opens hundreds of acres in No Name Basin, an area offering a quieter, more remote experience with views of the Gunnison Valley. The expansion includes about a dozen new trails featuring a mix of intermediate and expert runs, along with tree glades. The fixed grip lift aligns with Monarch’s low-key approach, favoring slower rides and fewer crowds over high speed, high-capacity lifts common at larger resorts.
Opening of the new terrain depends on snow conditions, as Monarch does not make artificial snow, but most of the mountain is already open this season despite a slow start to winter. Resort officials credit decades of “snow farming,” using wind fencing and snowcats to capture and redistribute natural snow, for maintaining consistent conditions. Monarch, founded in 1939, remains one of Colorado’s oldest ski areas.
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WATER FLOWING AGAIN THROUGH CASCADE FLUME, OPERATING AT REDUCED CAPACITY
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Water flow through the Cascade flume north of Purgatory Resort has been restored after a section of the 102‑year‑old structure collapsed near Cascade Creek in May, though the channel is operating at reduced capacity. Xcel Energy, which owns and operates the flume, installed a temporary pipe to bridge the damaged section, allowing water to resume flowing in November. The flume is a critical water source for Purgatory Resort’s snowmaking operations and for downstream users, including Electra Sporting Club, and also supplies water for hydroelectric generation at Xcel’s Tacoma station below Electra Lake. The collapse occurred after water escaping the damaged flume caused erosion that undermined additional supports.
While some residents speculated the flume may have been overfilled, Xcel Energy has not determined a definitive cause, though officials suspect a blockage may have caused water to back up and spill over. USGS data showed a brief surge to 71 cubic feet per second shortly before the failure, though Xcel cautioned that those readings may be inaccurate. Permanent repairs are expected to take roughly two years due to the flume’s historic status, regulatory approvals and its high‑elevation location, which limits the construction season.
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YAMPA VALLEY GIVES DAY DONATIONS TOTAL NEARLY $1.5 MILLION
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The annual Yampa Valley Gives Day set a new fundraising record in December, raising $1,466,081 for 107 nonprofits serving Routt and Moffat counties. The Dec. 9 giving day, part of the statewide Colorado Gives Day program, drew 4,834 individual donations, including more than 3,500 from Routt County residents, according to the Yampa Valley Community Foundation. Organizers said the total reflects steady growth since the local effort began in 2014 and highlights strong community support for causes ranging from food access and education to arts, environmental stewardship and services for children, families and seniors.
Fundraising was boosted by state level incentive funds, matching gifts from local nonprofits and a more than $1 million match pool from the Colorado Gives Foundation and sponsors. Donations continued to climb after the official giving day, reaching nearly $1.5 million by mid week, while nonprofits such as the Routt County Humane Society cited the event as critical to sustaining operations amid rising costs and increased demand for services.
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NO TIMELINE FOR REOPENING COLORADO HWY. 9 OVER HOOSIER PASS AFTER TANKER TRUCK OVERTURNS
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Colorado Hwy. 9 over Hoosier Pass remained closed in both directions Thursday evening after a semi tractor trailer overturned near Tordal Way, south of Frisco, blocking all lanes of traffic. Colorado State Patrol said the single vehicle crash occurred around 3:30 p.m. as the truck was traveling northbound, coming to rest across both the southbound and northbound lanes near milepost 80. The driver was transported by ambulance to a local hospital for medical evaluation. Authorities warned travelers to expect an extended closure while the investigation and cleanup continue, noting that there is currently no timeline for reopening the roadway. The closure affects traffic north of Blue River, with CDOT confirming Hwy. 9 is shut at its intersection with Tordal Way. State Patrol is leading the investigation and is asking witnesses who have not yet spoken with investigators to come forward. Road condition updates are available through COTrip.org.
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FORT COLLINS LAUNCHES NEW BIKE REGISTRATION SYSTEM TO HELP PREVENT THEFT
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Fort Collins has adopted a new bike and mobility device registration system that mirrors the one used by Colorado State University, allowing residents to register bicycles as well as scooters, skateboards, wheelchairs and other devices. The free system, Bike Index, replaces the city’s in house registration program and automatically places registered bikes into a national database used by thousands of communities and universities. City officials say the change reduces staff workload while improving the chances of recovering stolen property. Residents can register devices online by entering identifying details such as serial numbers, color and distinguishing features, while previously registered bikes will be transferred automatically if an email address was used. In the coming months, local bike shops will also be able to register bikes at the point of sale.
Along with the new system, the city shared guidance on how riders can better protect their bikes from theft:
- Always lock your bike when leaving it unattended, even briefly, and never leave it unsecured in a truck bed or on a rack.
- Use a secure lock or multiple locks, such as a U lock paired with a cable lock.
- Lock your bike in a high visibility location to deter theft.
- Store bikes indoors when possible, such as in a garage or fenced area.
- Register your bike with Bike Index, either through Fort Collins or CSU if you park on campus.
- Record your bike’s serial number and details, or take photos, including any modifications.
- Report thefts promptly to Fort Collins police if a bike is stolen.
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THE FASTEST‑GROWING JOBS IN THE U.S., ACCORDING TO LINKEDIN
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As job seekers face a challenging labor market, LinkedIn’s annual Jobs on the Rise list highlights where hiring momentum is strongest. The ranking identifies the 25 fastest‑growing occupations in the U.S. based on millions of roles started by LinkedIn members between Jan. 1, 2023, and July 31, 2025. To qualify, jobs had to show consistent, positive growth and reach a meaningful size by 2025. Artificial intelligence roles dominate the list, accounting for three of the top five positions, reflecting continued demand for both technical and strategic AI expertise. Self‑employed and advisory careers also feature prominently, with roles such as independent consultants and founders gaining traction as workers rethink traditional career paths amid rising costs and economic uncertainty.
LinkedIn career expert Catherine Fisher said contract work, advisory roles and portfolio careers are increasingly viewed as strategic ways to build experience and remain competitive. She advised job seekers to focus on translating existing skills into new contexts rather than starting from scratch when pursuing fast‑growing roles.
- AI engineers
- AI consultants and strategists
- New home sales specialists
- Data annotators
- AI/ML researchers
- Health‑care reimbursement specialists
- Strategic advisors and independent consultants
- Advertising sales specialists
- Founders
- Sales executives
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MARKET UPDATE - 01/08/2026 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 01/08/2026)
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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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