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Colorado - Wed. 04/02/25 |
A Free Business Publication from Alpine Bank
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COLORADO GOV. SIGNS BILL TO LET CU, CSU & OTHER COLLEGES PAY ATHLETES DIRECTLY
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Student-athletes at Colorado colleges can now be paid directly by their schools under a bill signed by Gov. Jared Polis, though the law did not come without some concerns about public transparency. Polis signed House Bill 1041 into law Friday to bring Colorado in line with recent court rulings that allow schools to pay their student-athletes directly. But the law also carves out the athletes’ contracts as exempt from the state open records law. In a signing statement, Polis said he supported the bill’s aims and keeping Colorado collegiate athletics competitive, but he had “concerns” about the exception. The bill passed the House and Senate overwhelmingly.
The Colorado Freedom of Information Coalition opposed the bill over the records exemption, arguing in part that transparency for contracts would help ensure fair earning opportunities for the student-athletes. The athletes’ pay would come from auxiliary funds directly tied to athletics, such as ticket sales, merchandise and TV deals — not tax dollars. Big-name college athletics, such as the University of Colorado Buffaloes, can generate tens of millions of dollars. The Buffs generated more than $140 million, a record, last year.
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COLORADO SKI AREA CLOSING SEASON WITH $39 TICKETS
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A Colorado ski area is closing its season in style — and on the cheap. Big snow toward the end of March inspired Monarch Mountain to extend its season by a week, through April 13. Then the small, independent mountain got to feeling generous. Lift tickets will be $39, April 7-13. The ski area announced the discounted tickets would be available online and at the window. Despite the late March snow, Monarch's total for the season has been well below average.
The ski area measured close to 200 inches of snow at the end of the month, below the 350 inches Monarch reports as its annual average. As for the part about going out in style, that's a nod to what Monarch is calling its inaugural Ski Ballet. The demonstration sport might be gone from the Olympics but the ski area on April 5 is hosting a competition that looks like figure skating on skis. The season will close April 13 with Monarch's time-honored Gunbarrel Challenge, in which skiers hike uphill and race down for the Golden Boot.
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COLORADO BUSINESS CONFIDENCE FALLS; SECOND-LARGEST DROP EVER
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Business sentiment in Colorado took a nosedive, according to the Leeds Business Confidence Index, a measure of how business leaders across Colorado feel about the national and state economy. It was the second-largest decline in the economic tracker’s 23-year history, according to a report from the University of Colorado Boulder released Tuesday. The index dropped from a score of 50 (the neutral baseline) in the last quarter to 31.9 in the latest survey, the third-most pessimistic score recorded by the economic indicator. Respondents cited tariffs, federal contracts and grants, health care, immigration and foreign policy as their largest concerns. The last major events to cause the index to significantly drop was when the COVID-19 pandemic hit and during the 2008 Financial Crisis, two recessionary periods.
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HOOTERS FILES FOR BANKRUPTCY, RESTAURANTS WILL STAY OPEN
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Hooters, the restaurant chain known for its chicken wings, its all-female serving staff in revealing outfits and its slogan, “delightfully tacky, yet unrefined,” has filed for bankruptcy in a Texas court. Under the bankruptcy agreement, a group that includes the company’s founders, who independently run about a third of the franchised locations in the United States, will buy the company-owned restaurants in the U.S. from the private equity firm that owns the chain. The complicated bankruptcy filing is a way to keep many of the restaurants open. Hooters, proud of its Buffalo chicken wings but famous for the low-cut tops and bright orange hot pants worn by its waitresses, has more than 400 locations across 42 states and 29 countries. Some of those restaurants, including international locations, are run as franchises and will not be affected by the bankruptcy process. After the process is completed, all of the chain’s locations will be franchises.
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COLORADO LICENSES ITS FIRST PSILOCYBIN HEALING CENTER
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Psychedelic-assisted therapy is one step closer to becoming legally available in Colorado, with the state’s first healing center obtaining a license to offer the service this week. On Monday, the state’s Natural Medicine Division issued an operational license to The Center Origin, a wellness center located at 1440 Blake St., Suite 330 in Denver. The business expects to begin offering psilocybin-assisted therapy to adults by late April, said co-founder and CEO Elizabeth Cooke. Cooke opened The Center Origin in Denver in 2023 with a roster of practitioners specializing in yoga, massage, breathwork and reiki. Her goal was to build a community and brand recognition in anticipation of psychedelic therapy becoming legally available.
The Center Origin will soon shift to make psychedelic-assisted therapy its primary offering, complete with preparation, administration, and integration sessions. It will also offer “microdosing support” and a range of psychedelic-focused community events, like weekly integration circles, a book club, and mycology classes. In controlled studies, large doses of psilocybin – the psychoactive compound in “magic mushrooms” – have shown promise in treating mental health conditions such as severe depression, addiction, and end-of-life anxiety. In 2022, Colorado became the second state, behind Oregon, to legalize the service and make it more accessible.
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MESA COUNTY STEWARDSHIP CREW AWARDED $300,000 GOCO GRANT
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Mesa County’s Grand Valley Stewardship Crew, which does work supporting natural resources and outdoor recreation, will be able to expand thanks to a $300,000 Great Outdoors Colorado Grant. The grant is part of GOCO’s Stewardship Impact program and is intended to fund work that improves ecological and recreational amenities in Colorado communities. The Grand Valley Stewardship Crew was launched in 2020 establishing a year-round crew to complete projects while supporting local partners that face certain staffing and resource limitations. The program also provides crew members with professional development opportunities and pathways to careers in natural resource management.
The Stewardship Crew has already completed projects that include trail maintenance and restoration, revegetation and invasive species control, river habitat enhancement, wildfire risk mitigation and public education on responsible recreation practices. The grant will allow the crew to continue and expand its work with partners across both private and public lands like the Bureau of Land Management, U.S. Forest Service, Colorado Parks and Wildlife and local municipalities.
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UP TO A FOOT OF SNOW PREDICTED FOR THE SAN JUANS THROUGH SATURDAY
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For recreationists hoping for a last blast of snow at Telluride Ski Resort prior to the official end of the 2024-25 season, Mother Nature says: You’re welcome. As much as a foot of fresh snow is scheduled to arrive by Sunday, closing day on the ski mountain, according to National Weather Service meteorologist Brianna Bealo. “This (first) one,” Bealo said Tuesday afternoon, “is pretty strong, and has some pretty cold air in it. The Telluride area should see between 6-10 inches of snow by Wednesday morning.” That’s not all. “The next wave should begin moving in Wednesday night,” Bealo said. “Our forecast predicts another 4-8 inches of snow,” with greater totals up high.
For Telluride proper, the forecast right now calls for 6 inches, with another 2 to 4 inches arriving through Friday and 4 more inches between Saturday and Sunday. “You’re looking at as much as a foot of fresh snow over the next few days, and it will be staying cold — so it will be accumulating,” Bealo said. Drivers should check road conditions statewide on Cotrip.org.
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FOREST SERVICE TO RETURN INDIGENOUS REMAINS DISCOVERED NEAR MCPHEE RESERVOIR
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The San Juan National Forest is repatriating the archaeological remains of 10 individuals as well as pottery shards recovered from the eroding shorelines of McPhee Reservoir, according to a notice published in the Federal Register. The remains were excavated from sites in a historic archaeological district linked to Indigenous tribes in Montezuma County. In 2021, the remains of nine individuals were found at a site that consists of a large Pueblo I habitation thought to be occupied around the years 750 to 900. The remains of one person were discovered in 2022 at another archaeological site, occupied sometime between the Basketmaker III and post-Puebloan periods, between the years 500 and 1840. The notice listed 23 tribes linked to the Southwest United States that had priority for the disposition of the bodies based on the archaeological context and geographic location.
The remains could be repatriated as soon as April 16, however claims may be submitted over the following year. Details about where to send inquiries can be found in the Federal Register notice. Hundreds of bodies and thousands of associated funerary objects have been discovered and returned to tribes in the region in recent decades. The terms of how agencies handle the highly sensitive objects are dictated by the Native American Graves Protection and Repatriation Act. Human bones found in an eroding hillside south of Durango in August were also determined to be Native American and are undergoing repatriation.
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BIGGER, BETTER: TASTE OF VAIL RETURNS FOR 34TH YEAR
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The annual Taste of Vail kicks off today, April 2, with a signature event and a new addition to the schedule to celebrate the food and wine festival’s 34th year. The Debut of Rosé ushers in the masses who have come from near and far to try out the just-released 2024 rosés and explore over 100 rosé varietals. Taste of Vail also added an Opening Celebration Dinner to get the festivities going at the Sonnenalp Vail. The big thing to note about the Debut of Rosé is the location change. This year, the event will be held at Donovan Pavilion. The Debut of Rosé runs from 3-6 p.m. To get to the Donovan Pavilion, Epic Mountain Express will pick up guests at the Vail Village parking structure at 2:45 p.m., then head to The Hythe, and return guests at 6 p.m. Shuttles will be running from every hotel that offers shuttle service. The town of Vail’s free bus system is also an easy way to get around town. For tickets and more information, go to TasteofVail.com.
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STEAMBOAT CHAMBER AWARDED $20K TOURISM GRANT FOR NEW YAMPA RIVER INTERPRETIVE CENTER
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The Colorado Tourism Office announced on Tuesday its 2025 Tourism Management Grantees, including a $20,000 grant to the Steamboat Chamber. In partnership with Friends of the Yampa, the grant will support digital and printed educational materials for the new Yampa River Interpretive Center. The center aims to serve as a hub for education, engagement and stewardship, providing both locals and visitors with an opportunity to deepen their understanding of the Yampa River’s ecological and recreational significance.
The grant will fund a range of educational materials for the center, including interpretive signage, a topographic table and maps showcasing the river’s path. These resources will highlight topics such as river health and responsible recreation practices. While an official opening date for the center has not yet been finalized, Friends of the Yampa anticipates hosting a grand opening celebration in early June, with the goal of having all materials ready by then. Friends of the Yampa is focused on finalizing plans for the center and encourages community members to stay informed by signing up for updates through their newsletter at friendsoftheyampa.com/newsletter.
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ABLE ACCOUNTS: 2025 CONTRIBUTION LIMITS & TAX BENEFITS
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Eligible individuals with disabilities and their family members can use Achieving a Better Life Experience (ABLE) accounts to pay for qualified expenses. These are savings accounts that don’t affect eligibility for government assistance programs. The 2025 contribution limit is $19,000. Qualified expenses include housing, education, transportation and basic living expenses. ABLE account beneficiaries may be eligible to claim the Saver’s Credit for a percentage of their contributions. This is a nonrefundable credit for people who are 18 or older, aren’t dependents or full-time students, and meet certain income requirements. Visit ABLE Account IRS Tax Tips, https://bit.ly/4hLOnI5
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ALPINE BANK WEALTH MANAGEMENT PROMOTES HANNAH GALINDO TO TRUST OFFICER
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Alpine Bank Wealth Management is pleased to announce the promotion of Hannah Galindo to trust officer, where she will oversee client accounts across Mesa County and the Western Slope. Galindo joined Alpine Bank Wealth Management in January 2024, serving out of Alpine Bank’s Grand Junction downtown location. Prior to her role in wealth management, Galindo worked at Alpine Bank in marketing and community outreach for Mesa County.
A native of Colorado, Galindo graduated from Colorado Mesa University, with a bachelor’s degree in business administration with a concentration in finance and marketing. Outside of her professional role, Galindo is passionate about giving back to her community. She serves as a member for the HopeWest Next Gen Board. Alpine Bank Wealth Management is proud to have Galindo on the team as she continues to contribute to its mission of helping customers and community members achieve their dreams. Learn more about Galindo and Alpine Bank Wealth Management at alpinebank.com/wealth-management.
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MOST FINANCIALLY LITERATE STATES 2025
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In order to find the states with the best financial literacy, WalletHub analyzed financial-education programs and consumer habits — combined with the results of its WalletLiteracy Survey — in each of the 50 states and the District of Columbia. The data set of 17 key metrics ranges from high-school financial literacy grade to share of adults with rainy-day funds. Most Financially Literate States:
- Minnesota
- Colorado
- Nebraska
- Virginia
- Wisconsin
- New Hampshire
- Iowa
- Washington
- Vermont
- New Jersey
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MARKET UPDATE - 04/01/2025 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 03/27/2025)
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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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