Colorado - Thu. 12/20/18 |
A Free Business Publication from Alpine Bank
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ACCESS TO ICONIC CIELO VISTA RANCH BEING RESTORED
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The Cielo Vista Ranch, the 83,386-acre property in the San Luis Valley, dates back to an original grant from Mexico to a French Canadian trapper who portioned out deeds to Mexican and Spanish settlers in an effort to colonize the valley before Colorado was a state. William Harrison bought the storied ranch in September 2017 and thousands of people in the area who have ties to the land from the original land grant days have been seeking to retain access for grazing and wood gathering and hunting. Harrison originally cut off access but after a court decision permitted some access rights, Harrison is looking to begin restoring some gates for access and is seeking resolution to access issues.
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COLORADO HISTORICAL FOUNDATION TABS ROSSET AS DIRECTOR
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The Colorado Historical Foundation has named Cathy Rosset as the nonprofit's new executive director. Rosset replaces Lane Ittelson, who was the first full-time director of the foundation and served for 19 years. The Colorado Historical Foundation is a private nonprofit organization that was established in 1965 to support history and preservation projects. In addition to collaborative efforts with the Colorado Historical Society, the Foundation carries out numerous preservation-related projects including the new historic preservation Revolving Loan Fund for Colorado and an active statewide preservation easements program.
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CONGRESS MOVING TO AVOID GOVERNMENTAL SHUTDOWN
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The Senate on Wednesday night passed a short-term spending bill that will keep the government open until early February, setting the stage for a fresh fight over border-wall funding in next year’s divided Congress. Lawmakers from both parties joined in support of a voice vote to avert a partial shutdown when seven spending bills expire at 12:01 a.m. Saturday. The bill extends funding of the government until Feb. 8. The measure now heads to the House, where it is expected to be passed on Thursday.
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CRESTED BUTTE TRAIL PLAN BARELY SQUEAKS BY PITCO VOTE
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The Pitkin County commissioners Tuesday voted 3-2 to approve the Carbondale to Crested Butte Trail Plan. On the split vote of the commissioners, Patti Clapper, George Newman and Rachel Richards supported the plan. Greg Poschman and Steve Child opposed it. The approval does not authorize any construction, but clears the way for the county's Open Space and Trails staff to formally ask the U.S. Forest Service and Colorado Department of Transportation to study the 7-mile stretch of the trail from Redstone to the top of McClure Pass.
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USFS LOOKING TO EXPAND CAMPING PERMIT SYSTEM BY 2020
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Shelly Grail, recreation manager for the Aspen-Mount Sopris Ranger District, said that permits for camping at Capitol Lake, Snowmass Lake and the Four Pass Loop will likely be implemented by the summer of 2020. The Forest Service will undertake extensive field work in the summer of 2019 in preparation for the expansion of the permit system. The permit system was launched in the Conundrum Valley last summer, but the implementation there was easy because of the limited space in the confined valley making compliance much easier. Capitol Lake and Snowmass Lake have multiple access routes. The Four Pass Loop covers almost 27 miles with numerous camping places.
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UNITED ADDS CHICAGO NONSTOP TO GJ
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United Airlines Wednesday announced it will begin a seasonal nonstop flight between Grand Junction Regional Airport and Chicago O'Hare International Airport in June. The flights will operate on Saturdays from June 8 through Oct. 26, departing from Chicago to Grand Junction at 10 a.m. CDT and arrive at 12:12 p.m. MDT. The Grand Junction flight will depart for Chicago at 12:50 p.m., arriving at 4:40 p.m. Central Daylight Time. With the addition of this flight, GJ travelers now have 37 destinations available within one stop.
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RANDALL LEAVING AS HEAD OF DNR
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Gov. John Hickenlooper Wednesday announced that Bob Randall, executive director of the Colorado Department of Natural Resources, will leave that post on Jan. 8. Randall will join the Denver-based law firm Kaplan Kirsch & Rockwell. Hickenlooper appointed Randall to the position in June 2016. He had served as interim director since February 2016 and had been deputy director since 2010. Hickenlooper will be succeeded by Governor-elect Jared Polis in January and Polis will select the replacement for Randall.
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TELLURIDE REVAMPS MARKETING, NEW BRAND, NEW MATERIALS
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After a year in development, the town of Telluride has launched a new marketing plan with an updated visitors guide, print and online advertisements, marketing videos, with all materials featuring a new logo utilizing the pickaxe "T" in the Telluride name. The town asked Telluride Ski Resort officials for permission to share the use of the pickaxe "T". Images used in the ad materials are close-up shots of people and animals overlaid on wintery mountain backdrops with one-word or two-word titles such as “Intimate,” “Transcend,” “Untamed,” “Pristine,” “Powder Day” and “Revelation.” All feature the pickaxe “T” within it.
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UNITED ADDS SEASONAL HOUSTON AND CHICAGO FLIGHTS TO DURANGO
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United Airlines Wednesday announced it will add seasonal flights between Durango-La Plata County Airport and Chicago O'Hare International Airport and George Bush Intercontinental Airport in Houston. The United flights to both Chicago and Houston will be on Saturdays, starting June 8 and continuing through Oct. 26. American Airlines also plans to offer Saturday flights from Durango to Chicago O’Hare International Airport for the first time this summer, from June 8 to Aug. 17.
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VAIL SNOWMAKING EXPANSION GETS DRAFT OK FROM USFS
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Scott Fitzwilliams, supervisor of the White River National Forest, issued a draft approval Wednesday for the expansion of snowmaking on Vail Mountain. The draft approval includes 262 acres of new snowmaking coverage, with 32.5 miles of pipeline and 14 new valve stations. With the new plan approved, Vail now has a total of 789 acres of coverage with snowmaking, or about 25 percent of the total skiable terrain. Following the draft approval, there now is a 45-day objection period, with a final decision following the objection period.
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BREXIT: WHAT HAPPENS IF NO DEAL IS MADE?
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As Prime Minister Theresa May's Brexit plan flounders in Parliament, with a vote now not happening until mid-January, there is increasing pressure facing the U.K. with a March 29 deadline for exiting the European Union. There even is increasing pressure in Parliament for another Brexit referendum. With all this uncertainty in the U.K., the European Union has announced temporary measures to be implemented if March 29 arrives with no deal in place for the departure of the U.K. The EU has 14 measures covering eight sectors, taking issues such as transportation and customs, data protection, animal health and plants, climate policy and key financial products. Among other things, here are some key elements:
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Flights into the U.K. and overflying the U.K. would be allowed for 12 months
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Haulers carrying freight by road into the EU would have nine months to apply for permits
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U.K. financial services regulations, in a limited number of areas such as derivatives trading, would be recognized as equivalent to the EU's for one or two years.
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THE BEAR LUMBERING THROUGH GLOBAL MARKETS
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A bear market is defined as a fall of at least 20 percent from its most recent peak. Major stock indexes around the world have met that definition and key benchmarks in Spain, France and Russia are all less than 5 percent away from bear market territory. Falls from 52-week highs, by percentage:
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Shanghai Composite, China: -27 percent
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ISE National 100, Turkey: -25 percent
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FTSE MIB, Italy: -24 percent
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Hang Seng, Hong Kong: -23 percent
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KOSPI, South Korea: -21 percent
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DAX, Germany: -21 percent
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S&P/BMV IPC, Mexico: -21 percent
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MARKET UPDATE - 12/19/2018 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 12/13/2018)
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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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