Colorado - Fri. 07/12/24 A Free Business Publication from Alpine Bank View Online View in Browser
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COLORADO STEGOSAURUS TO BE AUCTIONED OFF BY SOTHEBY'S

 
 
 
The nearly complete fossilized remains of a 161-million-year-old stegosaurus discovered in Colorado in 2022 will be auctioned by Sotheby’s in New York next week. The dinosaur that Sotheby’s calls Apex stands 11 feet tall and measures 27 feet nose to tail. The stegosaurus, with its distinctive pointy dorsal plates, is one of the world’s most recognizable dinosaurs. Apex, called “a coloring book dinosaur,” was discovered in May 2022 on private land near the town of Dinosaur. The excavation was completed in October 2023. Though experts believe stegosauruses used their fearsome tail spikes to fight, this specimen shows no signs of combat, Sotheby’s said. The fossil does show evidence of arthritis, suggesting that Apex lived to an advanced age. The dinosaur will be auctioned on July 17 as part of Sotheby’s “Geek Week” series. Sotheby’s is estimating that it will sell for $4 million to $6 million.
 
- Colorado Sun, 07.11.24
 

DENVER'S UNION STATION WRAPS UP $11M REMODEL

 
 
 
Denver’s Union Station is set to fully reopen to the public today with a redesigned Great Hall and remodeled guest rooms at the Crawford Hotel. The work was the first major makeover since the completion of a $54 million overhaul of the building a decade ago. The latest renovation came with an $11 million price tag and kicked off in February. The building, which dates back to 1881, has evolved to host service industry businesses, including the Crawford Hotel, 10 restaurants and two shops. Denver Union Station Neighborhood Night is set for tonight. Saturday, Union Station will host a black-tie gala to benefit dozens of Colorado nonprofits. The event will include live ice carving and music by the Colorado Symphony Quartet. From 11 a.m. to 4 p.m. on Sunday, Denver Union Station Community Day will host the public for a free event, with the Rocky Mountain Mini Train, face painters and balloon artists on the agenda.
 
- Denver Post, 07.12.24
 

NORTH AMERICA'S LARGEST EV FESTIVAL IN DENVER THIS WEEKEND

 
 
 
The Electrify Expo, North America's largest electric vehicle festival, is making its first ever stop in Colorado from 10 a.m. to 5 p.m. Saturday and Sunday at The Yards in the National Western Complex. Attendees who are willing to brave the triple-digit heat forecast for this weekend can get a chance to drive some of the world's top electric cars, trucks, e-motorcycles, e-bikes, e-scooters and e-skateboards. Vehicles from Tesla, Rivian, Lucid, Ford, BMW, Toyota, Lexus, Hyundai, Volvo and more will be on display. There will also be a kids' zone where children can have interactive experiences. Attendees will also have a chance to ride in the Mustang Mach-E GT with a professional driver and see the all-new Rivian R3 and the Tesla Cybertruck. Tickets can be purchased online or in person for $20. Children 5 years and under are free. Parking is $10. The event is located at 5004 National Western Drive in Denver.
 
- Denver Gazette, 07.11.24
 

MORE PEOPLE THAN EVER EXPECTED TO BET ON SUMMER OLYMPICS

 
 
 
The Summer Olympics in Paris, set to start July 26, will be the first to take place since legal gambling became widespread in the U.S. The gaming industry expects an increase in wagering from the previous Summer Games in Tokyo, particularly for sports like men’s and women’s basketball, soccer and tennis. These Olympic Games come at an opportune time for sportsbooks, during the off seasons of high-volume betting leagues like the NFL and NBA. But it remains to be seen whether they move the needle for gambling operators. The effect could be more muted for giants FanDuel and DraftKings, which together hold about 80 percent of the U.S. online gambling market share, than for smaller players. The expected rise in Olympics gambling underscores just how much the market has boomed in recent years. More than 30 states now allow some form of sports wagering, and many of them permit mobile and online betting, a dramatic increase from the last Summer Olympics.
 
- CNBC.com, 07.11.24
 

COSTCO HIKES MEMBERSHIP FEE FOR THE FIRST TIME SINCE 2017

 
 
 
The membership-based Costco warehouse club will increase its membership fee by $5 in the U.S. and Canada as of Sept. 1. That is an increase to $65 from $60 for annual memberships. Its higher-tier plan, called “Executive Membership,” will increase to $130 a year from $120. Costco said the fee increases would affect about 52 million memberships. Shares rose about 2 percent in extended trading Wednesday. It marks Costco’s first membership rate increase since June 2017. On average, the company has raised rates roughly every five and a half years, which would have put Costco on track to raise the fee in late 2022 or early 2023. However, Costco held off on raising fees prior to now. Its rival, Walmart-owned Sam’s Club, hiked its own membership fee in 2022 for the first time in nine years. Yet, even after the fee bump, a Sam’s Club membership was cheaper, at $50 for club members and $110 for members of its higher-tier level, “Plus,” on an annual basis.
 
- CNBC.com, 07.10.24
 

CHRIS KLUG FOUNDATION’S 2024 WINE & DINE

 
 
 
The Chris Klug Foundation's 2024 Wine & Dine takes place Friday, Aug. 2, 5 to 10 p.m., at the Snowmass Club. This incredibly special night honors the 2024 recipients of the CKF Awards. Our Hero Award, Bounce Back, Give Back Award, and Community Champion Award celebrate three courageous and dedicated trailblazers in the donation and transplantation community. The Snowmass Club will serve a sensational three-course meal paired with exquisite wine from Schramsberg Winery. There will also be an open bar, a silent auction with excellent items up for bid, a dessert bar, and an afterparty with the Derek Brown Band. Tickets are available online at chrisklugfoundation.org/wine-and-dine.
 
- Chris Klug Foundation
 

PEOPLE ARE CAUSING MANY OF AREA'S WILDFIRES

 
 
 
Human causes are behind many of the wildfires the region has seen so far this year, and efforts to limit that ignition source could be coming soon in the form of fire bans, although people need not wait until then to take precautions to avoid causing a blaze. Thirty-six of the 66 wildfires within the purview of the Upper Colorado River Interagency Fire and Aviation Management Unit this year through July 4 were human caused. The unit covers a region stretching from the Utah border to the Continental Divide and has seen 71 fires so far this year, through Thursday. Eleven have been in its eastern zone, 17 in its central zone, and 43 in its western zone. Last year at this time the interagency unit had seen a total of 28 fires by this time of year, 19 of them human-caused.
 
- GJ Daily Sentinel, 07.12.24
 

CDOT OPEN HOUSE FOR ROGERS MESA RECONSTRUCT PROJECT

 
 
 
The Colorado Dept. of Transportation invites Delta County residents and business owners to an open house regarding the Colorado Hwy. 92 Rogers Mesa Phase 1 Reconstruct project. The event will be held Wednesday, July 17, from 4:30 to 6:30 p.m. at the Delta County Fairgrounds in Hotchkiss. Attendees will hear about the updated design and safety improvements for CO 92, which stretches approximately four miles west of Hotchkiss from Mile Points 15.3 to 16.7. Improvements include widening shoulders, enhancing drainage and implementing access control measures to improve safety and operations along the corridor. CDOT staff and technical experts will be available to answer questions and provide detailed information about the project and its next steps. For more information, contact the project team at 970-683-6225 or email hannah.kadel@state.co.us.
 
- Montrose Daily Press, 07.11.24
 

MOUNTAIN VILLAGE & TELSKI PARTNER FOR CAR-SHARE SERVICE

 
 
 
The Mountain Village Town Council approved a partnership with Telski to provide a fleet of Zipcars to employees, residents, and visitors, hoping to address a perennial parking shortage while also aiding efforts to achieve sustainability goals. The vote formalized an agreement that has been in place since November of 2023, with Mountain Village picking up a third of the annual $75,000 cost, covering the expense of having eight cars available in Mountain Village. The car-sharing service adds to a transportation system that already features the gondola, smart bus routes, the Dial-a-Ride on-demand shuttle service, and trail network. The Zipcars are ideal for out-of-town trips to destinations like Montrose, Grand Junction, or Durango, enabling participants to run errands, attend appointments, or meet clients at a rate of $12 per hour, a reduced rate from Zipcar’s typical range.
 
- Telluride Daily Planet, 07.11.24
 

EAGLE CYCLIST TO REPRESENT U.S. AT 54TH TOUR DE L'ABITIBI

 
 
 
Eighteen-year-old Eagle biker Jack Diemar will represent the U.S. at the 54th annual Tour de l’Abitibi in Val-d’Or, Quebec next week. About 150 riders will take part in the 7-day, 667-kilometer stage race, which is the only UCI Junior Nationals Cup circuit event held in North America. While Diemar attended Vail Ski and Snowboard Academy from fifth to seventh grade, he played club hockey in Denver and Nordic ski raced for Ski and Snowboard Club Vail. In eighth grade, he left to attend Cardigan Mountain School in order to pursue hockey more seriously. The sport was his main focus when he moved on to the Holderness School — until the summer before his 10th-grade year. That’s when he registered for the first-annual Bighorn Gravel event in Gypsum. With that, Diemar switched his focus from pucks to pedals.
 
- vaildaily.com, 07.11.24
 

PART-TIME VAIL RESIDENT PARTNERS IN DEVELOPING ALPINE SKI SHOCK SYSTEM

 
 
 
Race car driver Ken Nichols had an epiphany watching a World Cup ski race several years ago. “I saw all of the chatter in the skis and thought, ‘what if ski racing had shock and damping systems like race cars?'” he said. The idea inspired Next Level Platforms’ ‘Shredshox,’ a suspension system for Alpine skis. Nichols co-founded the brand alongside fellow race car driver Nick Foster Jr. In December of 2017, the first prototype was tested at Palisades Tahoe. The ShredShox is a patented, fully-adjustable suspension system tailored for snow skis. Its lightweight, air-spring style uses a dual-adjustable mountain bike shock and features both compression and rebound adjustments wherein skiers can apply boot pressure to the ski from the front and back. Jarrod Krisiloff is a partner and head of brand for Next Level Platforms. A former sports and entertainment executive, Krisiloff lives in Indianapolis but has a second home in Vail.
 
- vaildaily.com, 07.11.24
 

COLORADO SNOWSPORTS HALL OF FAME 2024 AWARDS

 
 
 
To correspond with the Colorado Snowsports Hall of Fame 2024 inductee class, the Colorado Snowsports Museum and Hall of Fame announced the winners of the remaining five categories Wednesday. The incoming class of inductees announced in May are Ross Anderson, Bjorn Erik Borgen, John McBride, Sigurd Rockne, and Lindsey Vonn. The Hall of Fame is honoring seven others in the five other categories:
  • The Lifetime Achievement Award: Kent Erickson and Barbara Krichbaum
  • The Top of the Hill Award: National Sports Center for the Disabled, Winter Park
  • The Collegiate Athlete of the Year Award: Magdalena Łuczak, University of Colorado and Andreas Kirkeng, University of Denver
  • The Adaptive Athlete of the Year Award: Noah Elliott
  • The Mikaela Shiffrin Colorado Competitor of the Year Award: River Radamus
The Annual Award winners will be honored, along with the 2024 Hall of Fame inductees, at the 2024 Induction Ceremony taking place in Vail, on Sept. 7. Tickets are on sale now at snowsportsmuseum.org.
 
- Denver Gazette, 07.10.24
 

SUMMIT COUNTY NONPROFIT LAUNCHES ENGLISH CLASSES FOR SPANISH SPEAKERS

 
 
 
Mountain Dreamers, an immigrant-advocacy nonprofit, is launching a free English class for Spanish speakers in Summit County. The program, held at the 10 Mile Music Hall in Frisco, seeks to equip residents with English language skills that can better help them navigate work, school and daily life. U.S. Census data from 2023 shows that 17 percent of Summit County’s population identifies as Hispanic or Latino, though community leaders often say that number is an undercount. At the school district, for example, Hispanic students make up roughly 40 percent of the student body. Todd Altschuler, owner of the 10 Mile Music Hall, offered his venue to the group free of charge, and said he felt driven to help after becoming aware of the communication challenges facing Spanish-speaking parents. Classes are held from 5:30 to 7:30 p.m. every Tuesday. Those interested in volunteering can e-mail yerania@mountaindreamers.org.
 
- Summit Daily, 07.10.24
 

TOP STATES FOR BUSINESS

 
 
 
To rank America’s Top States for Business in 2024, CNBC scored all 50 states on 128 metrics in 10 broad categories of competitiveness. Each category is weighted based on how frequently states use them as a selling point in economic development marketing materials. The study ranks the states based on the attributes they use to sell themselves. Colorado was number 16 on the list. America’s Top States for Business:
  1. Virginia
  2. North Carolina
  3. Texas
  4. Georgia
  5. Florida
  6. Minnesota
  7. Ohio
  8. Tennessee
  9. Michigan
  10. Washington
 
- CNBC.com, 07.11.24
 
 
 
MARKET UPDATE - 07/11/2024 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
39753.75
 
+32.39
 
S&P 500
 
5584.54
 
-49.37
 
NASDAQ
 
18283.41
 
-364.04
 
10-year Treasury yield
 
4.19
 
-0.09
 
Gold (CME)
 
2415.00
 
+42.80
 
Silver (CME)
 
31.39
 
+0.66
 
Oil (NY Merc)
 
82.62
 
+0.52
 
Natural Gas ($/MMBtu)
 
2.26
 
-0.06
 
Cattle (CME)
 
182.25
 
NC
 
Prime Rate
 
8.50
 
NC
 
Euro (per U.S. dollar)
 
0.92
 
NC
 
Canadian dollar (per U.S. dollar)
 
1.36
 
NC
 
Mexican peso (per U.S. dollar)
 
17.77
 
-0.06
 
30-year fixed mortgage rate (Freddie Mac 07/11/2024)
 
6.89
 
-0.06
 
*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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