Colorado - WED. 08/05/20 A Free Business Publication from Alpine Bank Print Version Print View Online Webpage
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PRESIDENT SIGNS GREAT AMERICAN OUTDOORS ACT

 
 
 

President Donald Trump Tuesday signed The Great American Outdoors Act into law at a ceremony at the White House. The bill was introduced by U.S. Sen. Cory Gardner, R-Colo and it provides up to $9.5 billion over five years to fund deferred maintenance projects on public lands controlled by the National Park Service, the U.S. Forest Service, the U.S. Fish and Wildlife Service, the Bureau of Land Management and the Bureau of Indian Education. It also allocates $900 million to fully fund the Land and Water Conservation Fund.

 
- GJ Daily Sentinel, 08.05.20
 

FRONTIER AIRLINES PLANS TO FURLOUGH 400 PILOTS, ATTENDANTS IN DENVER

 
 
 

Frontier Airlines announced Tuesday it plans to furlough 35 percent of its pilots and flight attendants as early as October. Nationwide, the airline said it sent notices to 925 attendants and 559 pilots of the upcoming furlough. In Denver, that included 280 pilots and 180 flight attendants. Frontier is based in Denver and employs 2,078 workers in Denver. Frontier received support from the Payroll Support Program from the CARES Act. It provided funding for airlines and if the airlines kept the workers on the payroll until Sept. 30, the PPP money would not have to be paid back.

 
- Denver Post, 08.05.20
 

ISAIAS POUNDS EAST COAST, MORE THAN 2 MILLION HOMES WITHOUT POWER

 
 
 

Tropical Storm Isaias barreled up the East Coast of the U.S., with torrential rain, powerful winds and multiple tornadoes. Power lines and trees were knocked down, and there were 1.4 million households in New Jersey, 578,000 in New York and 395,000 in Connecticut without power Tuesday. Isaias made landfall in North Carolina late Monday as a Category 1 hurricane and although it was soon downgraded to a tropical storm, it generated tornadoes in North Carolina, Virginia and New Jersey. Isaias became the second tropical storm to sweep into New York this summer. Last month, Tropical Storm Fay hit the city.

 
- Wall Street Journal, 08.05.20
 

SKICO: VERY FEW INTERNATIONAL VISITORS THIS WINTER

 
 
 

The Aspen Skiing Co. says that international travelers make up 10 percent to 20 percent of their annual skier visits. The fluctuation generally is attributable to strength of the U.S. dollar relative to other currencies, conditions of the world economy, or even the condition of snow in Europe. However, this winter, the Skico expects that the coronavirus pandemic will severely restrict international travel and there will be very few international visitors. The greatest impact will be felt in January, according to Skico officials. The loss of international business is particularly tough because overseas visitors tend to stay longer and ski more days during their vacations.

 
- Aspen Times, 08.05.20
 

COGCC SETTLES ON MILL LEVY INCREASE

 
 
 

The Colorado Oil and Gas Conservation Commission Tuesday voted in favor of increasing the mill levy it assesses on oil and gas production to cover the day-to-day operations of the COGCC. The increase takes the 1.1 mill levy to 1.5, and is expected to raise an additional $3.7 million and will help cover the decrease in operating money caused by declining revenues and cuts in the state budget. The commission has also made budget cuts, primarily by decreasing its expenditures by leaving some vacant positions unfilled.

 
- GJ Daily Sentinel, 08.05.20
 

TELLURIDE MOUNTAIN SCHOOL PLANS TO OPEN ON TIME, IN-PERSON CLASSES

 
 
 

The Telluride Mountain School plans to open on schedule, with students returning Tuesday, Sept. 1 and the TMS is scheduling in-person classes. Teachers will return Monday, Aug. 24 to begin preparations for the opening of classes. The TMS created an eight-member COVID-19 Response Team which produced a COVID-19 handbook and created the plan for opening school. TMS has about 128 students and normal class size does not exceed 20 and there is a student-teacher ratio of 10-1 which means the school can easily accommodate six-foot distancing protocols.

 
- Telluride Daily Planet, 08.05.20
 

DURANGO SCHOOLS PUSH OPENING DAY BACK TO AUG. 31

 
 
 

The Durango School District 9-R Board of Education Tuesday voted unanimously to push the opening of schools in Durango back a week and school will now start Monday, Aug. 31. The board also voted unanimously in favor of requiring all students from kindergarten through grade 12 to wear masks in class. Students will return to in-classroom schools based on the existing Return to Learn plan that provides greater social distancing as students age and also offers the option of all-remote learning for those families uncomfortable with in-class education.

 
- Durango Herald, 08.05.20
 

CHSAA UNVEILS HIGH SCHOOL SPORTS SCHEDULE: 4 SEASONS, SPRING FOOTBALL

 
 
 

The Colorado High School Activities Association Tuesday announced its 2020-21 schedule for high school sports, with four seasons and condensed schedules for the 360 public, private and charter schools that CHSAA governs. The CHSAA plan has four, seven-week seasons, Seasons A, B, C and D. The major movement is football, volleyball, boys soccer, field hockey and gymnastics will move to Season C in the spring. High school football practice will now begin Feb. 22, with games starting March 4.

 
- Denver Post, 08.05.20
 

ROUTT COUNTY SEEKS INPUT ON CLIMATE ACTION PLAN

 
 
 

Last year, Routt County and city of Steamboat Springs agreed to collaborate on the climate action plan, both with implementation and funding. After being delayed by the COVID-19 pandemic, Routt County is now seeking public input on the plan. Residents can take an online survey at routtclimateaction.com. This winter, there will be open houses on the action plan and by the end of the year, the final action plan will be considered for adoption.

 
- Steamboat Today, 08.05.20
 

THE GOLD MARKET(S)

 
 
 

Gold prices are on fire. They hit a record high last week and are up about 30 percent so far in 2020. There are actually two gold markets.
The Physical Market

  • It is headquartered in London, with hubs in Shanghai, Zurich, Dubai and Hong Kong
  • It brings together miners, refiners, jewelers, central banks, electronics manufacturers and investors
  • Prices are quoted in troy ounces
  • There are 14.6 troy ounces to the pound instead of the standard 16
  • Bullion trades in batches of 400-ounce bars
  • London prices are fixed in twice-daily auctions

The Futures Market

  • Futures are standardized contracts that locks in prices for gold that will change hands on a specified date
  • Buyers and sellers agree to swap 100 troy ounces
  • The market is electronic and is hosted by New York's comex exchange
  • It gives investors an opportunity to speculate on gold prices rising or falling without holding the metal
 
- Wall Street Journal, 08.04.20
 

ALPINE BANK LOVES EDUCATORS!

 
 
 

Teachers work tirelessly to help teach the youth in our communities. Many educators also use their own money to purchase supplies for classrooms and students in need. To better support educators, Alpine Bank has created the Teacher Reimbursement Program. Alpine Bank will reimburse teachers for school supplies up to $200. This program is open to all educators in the following school districts. Please reach out to the Alpine Bank contact listed for each district for more information:

  • La Plata County School District – contact Josie Worrall at josieworrall@alpinebank.com
  • Montrose County School District – contact Jane Marie Amundson at janemarieamundson@alpinebank.com
  • San Miguel School District – contact Brian Marsh at brainmarsh@alpinebank.com
  • Delta County School District – contact Jane Marie Amundson at janemarieamundson@alpinebank.com
  • Ouray County School District – contact Becky Suppeland at beckysuppeland@alpinebank.com
  • Eagle County School District – contact Betsy Wood at betsywood@alpinebank.com
  • Routt County School District – contact Betsy Wood at betsywood@alpinebank.com

Another easy way to support educators and education in your community is with the Education Loyalty Debit Card. Alpine Bank’s Loyalty Debit Card program began in 1997 and has become an innovative way for our customers to help us give back to our communities. Each time you use your Alpine Bank Loyalty Debit Card, Alpine Bank donates 10 cents to educational organizations where you live. To learn more, visit the link below.

 
- Alpine Bank
 
 
 
 
 
 
 
 
MARKET UPDATE - 08/04/2020 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
26828.47
 
+164.07
 
S&P 500
 
3306.51
 
+11.90
 
NASDAQ
 
10941.17
 
+38.37
 
10-year Treasury yield
 
0.43
 
NC
 
Gold (CME)
 
2001.20
 
+35.20
 
Silver (CME)
 
26.01
 
+1.62
 
Oil (NY Merc)
 
41.70
 
+0.69
 
Natural Gas ($/MMBtu)
 
2.19
 
+0.09
 
Cattle (CME)
 
100.42
 
NC
 
Prime Rate
 
3.25
 
NC
 
Euro (per U.S. dollar)
 
0.84
 
-0.01
 
Canadian dollar (per U.S. dollar)
 
1.33
 
NC
 
Mexican peso (per U.S. dollar)
 
22.80
 
+0.17
 
30-year fixed mortgage rate (Freddie Mac 07/30/2020)
 
2.99
 
-0.02
 
*Not FDIC insured. May lose value. Not guaranteed by the bank.
 
 
 
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Alpine Bank is an employee-owned Colorado company chartered in 1973. With 40 locations across Colorado, Alpine Bank offers a full suite of banking services.
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