Colorado - THU. 02/27/20 A Free Business Publication from Alpine Bank Print Version Print View Online Webpage
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COLORADO LEGISLATURE PASSES BILL TO REPEAL DEATH PENALTY
 
 
 

After five hours of debate Wednesday, the Colorado House of Representatives voted 38-27 to pass a bill repealing the death penalty in Colorado. The Colorado Senate had already passed the repeal and the bill now goes to Gov. Jared Polis. Colorado becomes the 22nd state to pass legislation outlawing capital punishment. Once the bill reaches the governor's office he will have 10 days to act on it. The governor has said he will sign it into law.

 
- Denver Post, 02.27.20
 
XCEL ENERGY ASKS FOR RATE INCREASE
 
 
 

Xcel Energy-Colorado is seeking natural gas rate increases that would add $6.44 a month to a typical residential bill and $19.51 a month to a typical small-business customer's bill. The proposed rate constitutes an increase of about 16 percent. Xcel said the rate increase is a result of significant investments to improve reliability, reduce emissions on the system and keep pace with growth. In mid-February the PUC approved a $41.5 million annual electric rate increase for Xcel Energy. The utility had requested a $158 million increase.

 
- Denver Post, 02.27.20
 
STOCKS FALL FOR 5TH STRAIGHT SESSION
 
 
 

The Dow Jones Industrial Average and the S&P 500 started the trading day Wednesday on fire, with the Dow climbing as much as 461 points through the morning. However, both indexes fell off to close down for the fifth consecutive trading session. The Dow closed down 123.77 points at 26957. That is down more than 8 percent from a week ago. The Dow fell more than 1,900 points in trading Monday and Tuesday, its largest two-day decline ever. The Nasdaq Composite index reversed the trend, closing up 15.16 points and pushed back into positive territory for the year.

 
- Wall Street Journal, 02.27.20
 
BASALT SETS RECORD FOR SALES TAX REVENUE IN 2019
 
 
 

The town of Basalt collected $6.67 million in sales tax revenue last year, a record amount of sales tax revenue for the town. It is an increase of 9.4 percent over collections in 2018. Sales tax revenue comprises more than 60 percent of annual revenues for the town. The biggest sector in collections, retail food establishments, primarily City Market and Whole Foods, generated $2.34 million in sales tax revenue, up 3.5 percent. The $6.67 million in sales tax revenue topped the projected budgeted amount by about 5.5 percent.

 
- Aspen Times, 02.27.20
 
FINALISTS NAMED FOR ASPEN SCHOOL SUPERINTENDENT
 
 
 

The Aspen School District Board of Education Wednesday named four finalists for the district's superintendent vacancy, including a principal in the district. The finalists are David Baugh, superintendent of Centennial School District in Conshochoken, Pennsylvania; Aurora resident Tammy Clementi, who is national director of planning and analytics for Houghton Mifflin Harcourt; Aspen High School Principal Tharyn Mulberry; and Ann Schultz, executive director of Cherry Creek Academy in Englewood.

 
- Aspen Times, 02.27.20
 
GJ CHEF NAMED JAMES BEARD FINALIST
 
 
 

A Grand Junction chef, Josh Niernberg, from Bin 707, was one of the 20 semifinalists for "best chef" in the mountain region of the annual James Beard Awards. This is the first year of the mountain region for the Beard Awards. The region includes Montana, Utah, Wyoming, Idaho and Colorado. Ten of the 20 semifinalists are from Colorado, but Niernberg is the only Colorado chef from outside the Front Range. Niernberg also owns the Taco Party and Dinner Party in downtown Grand Junction.

 
- GJ Daily Sentinel, 02.27.20
 
CHAMBER ASSOCIATION HONORS VAIL VALLEY PARTNERSHIP
 
 
 

The Western Association of Chamber Executives, an organization with representatives of chambers of commerce from Kansas to California presented two "Best in Class" awards to the Vail Valley Partnership at the association's annual conference. The Vail Valley Partnership is the first chamber of commerce in association history to receive two separate program awards. The two programs recognized as Best in Class were CareerWise and SmartBusiness Eagle County.

 
- www.vaildaily.com, 02.27.20
 
EAST PEAK 8 DEVELOPMENT GETS OK, WITH CONDITIONS
 
 
 

In a session lasting late into the night, the Breckenridge Town Council Tuesday voted unanimously to approve the East Peak 8 development, with conditions. The largest point of discussion and concern was a proposed club membership program which would have provided as many as 150 people with day-use access to facilities at the development, including parking. In the final approval, the developer, Lionheart-LH Mountain Ventures, agreed to eliminate the club membership program and the council added the condition that the 46 commercial parking spaces on-site could not be used for paid skier parking.

 
- Summit Daily, 02.27.20
 
SHOULD YOU TRAVEL DURING THE TIMES OF CORONAVIRUS?
 
 
 

If you are considering traveling during the coronavirus outbreak, here are some things to consider. Travel presents a greater risk because you encounter more people and people from many locations. Wash your hands frequently, and avoid touching unwashed hands to your face. If you are sick, don't travel. Be prepared for disruption. Airlines are cancelling flights and travelers are quarantined. Take extra medications with you and other items you might need if you get stuck. Use the three-level warning system of the Centers for Disease Control. Level 3 is a high-level warning of serious outbreak and it is a no-go. Mainland China and South Korea are Level 3 destinations. Level 2 calls for practicing enhanced precautions, or you can still go, but if you are nervous about the virus, it would be better to cancel. Italy, Iran and Japan are Level 2 counties. Level 1 is a location that has been put on watch. Currently, the only Level 1 location for coronavirus is Hong Kong.

 
- Wall Street Journal, 02.26.20
 
REMEMBER THE MOVIE, VISIT THE SITE
 
 
 

If you remember the movie, you might consider visiting the location where it was filmed:

  • "Star Wars" Episodes IV-VI: the new Anantara Tozeur Resort in Tunisia's Sahara Desert
  • "Lost in Translation": the Park Hyatt in Toyko
  • "Couples Retreat": the St. Regis Bora Bora
  • "The Hangover Part II": the Lebua at State Tower, Bangkok
  • "Snatched": although the movie was set in Ecuador and Colombia, it was shot at the Four Seasons Resort Oahu at Ko Olina
  • "The Return of the Pink Panther": Gstaad Palace, Switzerland
  • Of course, much closer to home, "The Shining": the Stanley Hotel in Estes Park
 
- USA TODAY, 02.04.20
 
 
 
MARKET UPDATE - 02/26/2020 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
26957.59
 
-123.77
 
S&P 500
 
3116.39
 
-11.82
 
NASDAQ
 
8980.77
 
+15.16
 
10-year Treasury yield
 
1.30
 
-0.02
 
Gold (CME)
 
1640.00
 
-6.90
 
Silver (CME)
 
17.82
 
-0.35
 
Oil (NY Merc)
 
48.73
 
-1.17
 
Natural Gas ($/MMBtu)
 
1.82
 
-0.02
 
Cattle (CME)
 
114.07
 
-0.95
 
Prime Rate
 
4.75
 
NC
 
Euro (per U.S. dollar)
 
0.91
 
NC
 
Canadian dollar (per U.S. dollar)
 
1.33
 
+0.01
 
Mexican peso (per U.S. dollar)
 
19.28
 
+0.20
 
30-year fixed mortgage rate (Freddie Mac 02/20/2020)
 
3.49
 
+0.02
 
*Not FDIC insured. May lose value. Not guaranteed by the bank.
 
 
 
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