Colorado - TUE. 01/14/20 A Free Business Publication from Alpine Bank Print Version Print View Online Webpage
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MERGER PRODUCES MAJOR AEROSPACE SUPPLIER BASED IN COLORADO
 
 
 

Two large aerospace suppliers, Woodward Inc., based in Fort Collins and Hexcel Corp., based in Stamford, Connecticut, Sunday announced a merger that will combine the companies into one of the largest independent aerospace and defense suppliers in the world. The new company, Woodward Hexcel, will be based in Fort Collins. Woodward’s largest customers for its control systems for aircraft are Boeing and General Electric. Hexcel manufactures composite parts used in the blades of aircraft engines as well as manufacturing other space and industrial items.

 
- Denver Business Journal, 01.13.20
 
SEARCH FOR DRONES PRODUCES NOTHING
 
 
 

The Colorado Department of Public Safety conducted field operations aimed at identifying the reported sightings of large drones in northeast Colorado. The state agency studied 23 reported sighting between Jan. 4 and Jan. 13 but reported 13 of the sightings were planets, stars or small hobby drones, six of the sightings were atmospheric conditions or commercial aircraft and four were undetermined in nature. The agency stated it can’t say conclusively they resolved the matter, but much of the activity has been identified.

 
- Denver Post, 01.14.20
 
NETFLIX DOMINATES ACADEMY AWARD NOMINATIONS
 
 
 

The Academy Award nominations were announced Monday and for the first time in Academy Award history, the studio with the most nominations is a streaming service, Netflix. Netflix garnered 24 nominations, with Martin Scorsese’s mobster epic “The Irishman” earning 10 nominations, “Marriage Story” scored six, “The Two Popes” earned three and its first animated feature “Klaus” found itself on the best animated feature ballot. Netflix has always been at odds with the Academy and it has never intended to make money at the box office. To be eligible for consideration, a film must run for at least seven consecutive days at a commercial theater in Los Angeles County. The film must also be shown at least three times a day.

 
- CNBC.com, 01.14.20
 
GLENWOOD SPRINGS AREA HAS LARGEST INCOME INEQUALITY IN THE STATE
 
 
 

The Economic Policy Institute of Washington, D.C. has produced a study, “The New Gilded Age: Income Inequality in the U.S. by State, Metropolitan Area, and County,” which identifies the “Glenwood Springs metro area,” the area from Glenwood to Aspen, as having the highest income inequality in the state. The study was compiled from 2015 tax filings and indicates the top 1 percent in the Glenwood Springs metro area makes $2.96 million annually, while the average income of the other 99 percent was $66,000.

 
- GS Post-Independent, 01.14.20
 
PITKIN COUNTY HAS SLOWER POPULATION GROWTH THAN EAGLE, SUMMIT
 
 
 

The Colorado State Demographers office released figures that showed from 2010, the last census, to 2018, the state’s population increased 11.5 percent. Pitkin County increased in population from 17,156 to 17,882, or just 4 percent. Eagle County grew by 5.1 percent and Summit County increased 9.4 percent, going from 28,073 to 30,974. Glenwood Springs grew from 9,571 in 2010 to 10,024 in 2018, according the demographer’s report. Carbondale increased from 6,395 to 6,883.

 
- Aspen Times, 01.14.20
 
CAMPSITES, OTHER AREAS OF CHACO CANYON CLOSED DUE TO POTENTIAL ROCKFALL
 
 
 

Officials at Chaco Culture National Historical Park closed certain areas of the park because of concerns over potential rockfall. Park officials don’t have any immediate concerns, but they decided to close select campground sites near what they called a “defined rockfall hazard zone.” The bulk of the closures are in Gallo’s Campground, where about 17 of the 49 sites are closed until further notice. The campsite closures are based on a 2015 study by the Geologic Resources Division of the National Park Service which showed the “arrangement of more resistant sandstone over more rapidly eroding mudstone,” creating the potential for rockfall hazards.

 
- Durango Herald, 01.14.20
 
CU REGENTS TO AWARD POSTHUMOUS HONORARY DEGREE TO TILLIE BISHOP
 
 
 

Although longtime public servant and unrivaled statesman Tillie Bishop, who died last year at the age of 86, already had a long list of degrees, the University of Colorado Board of Regents announced Monday that it wants to give him one more. At its spring commencement in May, the regents are to honor Bishop with a posthumous honorary doctorate, something they often do to honor people for such things as intellectual contributions, university service, public service or philanthropy. Bishop served one six-year term as a regent from 2007 to 2011 representing the 3rd Congressional District. Bishop was first elected to the Colorado Legislature in 1971. He spent 28 years there, four in the Colorado House and 24 in the Colorado Senate, making him the fourth longest-serving legislator in the state’s history.

 
- GJ Daily Sentinel, 01.14.20
 
EL POMAR ANNOUNCES GRANT AWARDS
 
 
 

Ten northwest Colorado nonprofit organizations will share in $676,500 in grants from the El Pomar Foundation. The largest grant went to the Basalt-based Access After School, a group that offers after-school and summer programs for youth. That organization received $250,000 primarily to support its middle school enrichment program. Another large grant, also for $250,000, went to Youthentity, a Carbondale group that also helps youth. That grant was specifically for the group’s career academy program. Other grant awards went to the Colorado Mesa University Foundation, the Avalon Theatre Foundation in Grand Junction, the Boys & Girls Club of Northwest Colorado, the Northwest Colorado Visiting Nurse Association in general operating support, among others. The foundation oversees several funds that give away more than $20 million in grants each year.

 
- GJ Daily Sentinel, 01.14.20
 
AVERAGE CREDIT CARD DEBT
 
 
 

According to the 2019 Experian Consumer Credit Review, the average credit card debt for Americans was $6,194. States with the highest average credit card debt and lowest:
States with highest credit card debt

  1. Alaska: $8,026
  2. New Jersey: $7,084
  3. Connecticut: $7,082
  4. District of Columbia: $7,077
  5. Virginia: $6,969

States with lowest credit card debt

  1. Iowa: $4,774
  2. Wisconsin: $4,961
  3. Mississippi: $5,134
  4. Kentucky: $5,140
  5. West Virginia: $5,144
  • Colorado: $6,416
 
- CNBC.com, 01.13.20
 
EN EL CENSO 2020 ¡HABLAMOS ESPAÑOL!
 
 
 

If you know someone you think could benefit from seeing helpful information about the 2020 Census in Spanish, please share the link below. The website includes promotional materials in Spanish, a Census 101 Fact Sheet, a handout for Spanish-speakers, a handout for migrant workers, and more. To learn more, contact Crystal Mariscal, Partnership Specialist with the Dallas Regional Census Office by calling 720-891-2475.

 
- U.S. Census Bureau
 
BID PARTNERING WITH SNOWDOWN AND DURANGO ON SNOWDOWN LIGHT PARADE TRANSIT
 
 
 

To help ensure safety and ease traffic and parking congestion in Downtown Durango during the 2020 A Rockin’ Snowdown Light Parade, Friday, Jan. 31, the Durango Business Improvement District (BID) has partnered with the City of Durango, the Snowdown planning committee and the Ride Responsible Program to provide free, safe and convenient transit to the parade location on Main Ave. Free shuttle service to the parade has been arranged from two ends of town. Plus all City buses, including the Main Ave. Trolley, will be offered free all day that Friday. For further parade transit information and a transit schedule, visit durangogov.org/333/Transit. For further information about the BID, visit downtowndurango.org or call 970-375-5067.

 
- www.durangogov.org
 
BLACK VIOLIN: IMPOSSIBLE TOUR COMES TO DURANGO JAN. 18
 
 
 

Named one of the hottest bands at SXSW, Black Violin returns to the Community Concert Hall at Fort Lewis College with the duo’s “Impossible Tour” on Saturday, Jan. 18, 7:30 p.m. The dance floor will be open! Tickets are available by calling 970-247-7657, online at www.durangoconcerts.com, or by visiting the ticket office inside the Welcome Center at 8th St. and Main Ave. in Downtown Durango. Ticket Office hours are Monday-Friday, noon-6 p.m.

 
- Community Concert Hall
 
CASA 101 IN GLENWOOD ON JAN. 28
 
 
 

Court Appointed Special Advocates of the Ninth Judicial District will host Garfield County CASA 101 on Tuesday, Jan. 28, at 4 p.m. at Pinwill's Frozen Yogurt in Glenwood Springs. Let CASA buy you a frozen yogurt while you chat with volunteer Megan Beirne and learn how you can become a volunteer Court Appointed Special Advocate. To learn more, visit the link below.

 
- CASA of the Ninth
 
GARFIELD COUNTY AG EXPO: FEB. 1
 
 
 

The family-friendly Garfield County Ag Expo, takes place Saturday, Feb. 1 at the Garfield County Fairgrounds in Rifle. There will be activities for all ages with a Kids’ Corner, a great line-up of speakers, breakout sessions and exhibitors. Adults can attend the sessions while their kids are learning at the Kids’ Corner. Additional activities will include the “Next Generation of Agriculture” photo contest. Please bring your framed photos marked with your name to display on the photo wall. The recipient of $2,500 Ag Expo Scholarship will be announced. Please call the Conservation District office at 970-404-3439 for more information. The agenda, list of speakers and registration forms can be found at the link below. Alpine Bank is a proud sponsor of this event.

 
- Garfield County Ag Expo
 
PROJECT FUNWAY 2020 IN VAIL
 
 
 

The most unique fundraiser in Vail returns to Dobson Arena to raise awareness and funding for education in Eagle County. Project Funway takes place Saturday, Feb. 1 at Dobson Arena in Vail. Three competition age categories (U12, 13-18, 19+) will compete for top designer with creations made from anything but fabric. Based on the popular Project Runway TV show's Unconventional Materials episodes, this event represents the widespread creative prowess of our local community, students, businesses, and schools. Amateurs are welcomed and encouraged! Model your own design, grab your supermodel friend, or a model will be provided for you. Alpine Bank is a proud sponsor of this event.

 
- Education Foundation of Eagle County
 
FRUITA CHAMBER ANNUAL BANQUET: HAVANA NIGHTS!
 
 
 

Mark your calendars for the Fruita Chamber Annual Banquet on Saturday, Feb. 8 from 5:30 to 10 p.m. at the Fruita Community Center! This year's theme is Havana Nights! Reserve your tickets now! Purchase tickets at the link below. For more information, call 970-858-3894.

 
- Fruita Chamber
 
 
 
MARKET UPDATE - 01/13/2020 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
28907.05
 
+83.25
 
S&P 500
 
3288.13
 
+22.78
 
NASDAQ
 
9273.93
 
+95.07
 
10-year Treasury yield
 
1.78
 
+0.02
 
Gold (CME)
 
1548.40
 
-9.10
 
Silver (CME)
 
17.92
 
-0.11
 
Oil (NY Merc)
 
58.08
 
-0.96
 
Natural Gas ($/MMBtu)
 
2.18
 
-0.02
 
Cattle (CME)
 
126.55
 
-0.87
 
Prime Rate
 
4.75
 
NC
 
Euro (per U.S. dollar)
 
0.89
 
NC
 
Canadian dollar (per U.S. dollar)
 
1.30
 
NC
 
Mexican peso (per U.S. dollar)
 
18.79
 
+0.01
 
30-year fixed mortgage rate (Freddie Mac 01/09/2020)
 
3.64
 
-0.08
 
*Not FDIC insured. May lose value. Not guaranteed by the bank.
 
 
 
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