Colorado - Thu. 03/12/20 A Free Business Publication from Alpine Bank View Online View in Browser
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EL POMAR: $1 MILLION COLORADO ASSISTANCE FUND TO SUPPORT COMMUNITIES AFFECTED BY COVID-19

 
 
 

El Pomar Foundation has announced the Colorado Assistance Fund, a $1 million fund offering immediate aid to nonprofit organizations supporting Colorado communities, organizations and individuals affected by the recent outbreak of COVID-19. Grants from the fund will be distributed to 501(c)(3) nonprofit organizations or government entities supporting access to appropriate healthcare and meeting basic human needs such as food access, rent and utilities assistance, and emergency services for individuals and communities impacted by the virus. In addition to coordinating with county public health departments and nonprofit organizations around the state, the Foundation will rely on input from several advisory councils of local leaders to identify the specific needs within Colorado’s rural communities. To learn more, visit elpomar.org.

 
- El Pomar Foundation, 03.11.20
 

MANY COLLEGES AND UNIVERSITIES IN COLORADO SWITCH TO ONLINE CLASSES

 
 
 

The major universities in Colorado are moving their classes from in-person sessions to only online delivery as the coronavirus continues to take its toll across the state. The University of Colorado announced the switch for three of its campuses: Boulder, Denver and Colorado Springs; as did Colorado State University, Metropolitan State University of Denver, University of Denver, Colorado School of Mines, University of Northern Colorado and Durango’s Fort Lewis College. All institutions said their campuses will remain open for the time being, meaning those that have facilities such as dorms, dining halls, libraries, recreation centers and student health centers will keep them operational.

 
- Denver Post, 03.12.20
 

CONSERVATION WORKS: LAKE MEAD AT ITS HIGHEST LEVEL IN 6 YEARS

 
 
 

After a decade of decline, Lake Mead, the largest reservoir in the western U.S., is beginning to fill again. Although there has been an increase in snowfall in the headwaters areas in Colorado in the past two years, the primary reason for the turnaround is increased water conservation measures taken in Nevada and southern California. The Southern Nevada Water Authority said users have cut total Colorado River water consumption by 25 percent over the past 20 years, even though the population served has increased around 50 percent. Since 2016, Lake Mead has risen 25 feet to 1,096 feet as of Tuesday, leaving it 44 percent full and at its highest level in six years.

 
- Wall Street Journal, 03.12.20
 

30-DAY TRAVEL BAN FROM EUROPE PLACED IN EFFECT

 
 
 

In a national address from the Oval Office Wednesday evening, President Trump announced a 30-day ban on travel from Europe into the U.S. The president also announced financial assistance to small businesses and assistance to workers who are ill, quarantined or caring for others. The travel ban applies to most countries in Europe, but not to the U.K. Following the address, the State Department advised U.S. citizens against all travel abroad, even to countries not yet experiencing an outbreak.

 
- Wall Street Journal, 03.12.20
 

THE 11-YEAR BULL RUN OF THE DOW FINALLY COMES TO AN END

 
 
 

The longest-ever bull market for U.S. stocks finally ended Wednesday. The end, defined as a 20 percent decline from the most recent high, came for the Dow Jones Industrial Average when the blue-chip index closed at 23553.22 Wednesday, down 20.3 percent from its record high of 29551.42, which was hit on Feb. 12. The bull market began March 9, 2009. The S&P 500 did not hit the 20 percent-decline mark, but was close, closing at 2741.38, down 19 percent from its Feb. 19 peak. Since that peak, the S&P has shed about $5 trillion in market value.

 
- Wall Street Journal, 03.12.20
 

GOV. POLIS: OLDER PEOPLE SHOULD NOT COME TO THE HIGH COUNTRY

 
 
 

Gov. Jared Polis Wednesday held a press conference at the state Capitol and urged people over 60 years of age and those with underlying health issues to avoid traveling to the high country as medical centers in mountain and resort towns have limited capacity to treat patients. He also urged those people to avoid all large gatherings. The governor's warning came after nine Australians visiting Aspen tested positive for COVID-19 and Eagle County has four confirmed cases and Summit County one.

 
- Denver Post, 03.12.20
 

NICOLA LEES: NEW DIRECTOR OF ASPEN ART MUSEUM

 
 
 

On Wednesday, the Aspen Art Museum announced that Nicola Lees is the new director of the art museum. Lees is currently the director and curator of New York University’s contemporary art space 80 Washington Square East Gallery (80WSE). She has run 80WSE since 2016. Before that, Lees served as a curator at the Frieze Foundation, London’s Serpentine Gallery and the Irish Museum of Modern Art. Lees succeeds longtime director Heidi Zuckerman who headed the museum from 2005 until last summer. Lees is scheduled to begin April 6.

 
- Aspen Times, 03.11.20
 

SAN MIGUEL COUNTY GETS SOLSMART GOLD MEDAL

 
 
 

Earlier this month, at the National Association of Counties legislative conference in Washington, D.C., representatives from San Miguel County received the SolSmart Gold award from the U.S. Department of Energy Solar Energy Technologies Office. San Miguel County received the Gold designation for enabling area homes and businesses to go solar through its outreach “WattsUp!” initiative, which organizes and simplifies county policies and procedures for going solar. In 2018, San Miguel County received a SolSmart Bronze designation.

 
- Telluride Daily Planet, 03.11.20
 

SUMMIT COUNTY OPENS RECYCLING CENTER IN SILVERTHORNE

 
 
 

Summit County, in partnership with Denver Water and the High Country Conservation Center, opened a new recycling center in Silverthorne on Monday. The recycling center Is located off River Road near the Blue River ball fields and the Outlets at Silverthorne. The new center is to serve citizens of Dillon and Silverthorne who, until now, were reliant on private roadside services or the roll-offs at Dillon Town Hall, which were frequently overrun. The county is paying for the center using Summit County Strong Future funds, a voter-approved measure from 2018 that allocates $1.7 million a year for waste-diversion services.

 
- Summit Daily, 03.12.20
 

CHIEF BERINO HONORED WITH FRISCO'S FINEST AWARD

 
 
 

The Frisco Town Council Tuesday evening honored Summit Fire & EMS Chief Jeff Berino with the Frisco’s Finest Award, presented to residents who’ve made considerable contributions to the town and greater Summit County community. Berino moved to Frisco in 1979 and soon began working as a wildland fire crew member in the summer before joining the Frisco Fire District as a volunteer the next year. Berino basically moved through the ranks and was named deputy chief in 2005 after the consolidation of three districts into Lake Dillon Fire Rescue. He became chief in 2015.

 
- Summit Daily, 03.12.20
 

WORLD HEALTH ORGANIZATION DECLARES CORONAVIRUS A PANDEMIC

 
 
 

Dr. Tedros Adhanom Ghebreyesus, director-general of the World Health Organization Wednesday declared that the WHO has now classified the new coronavirus as a pandemic. The WHO generally defines a pandemic as a disease that has become widespread around the world. The term has been applied to only a few diseases in history, a deadly flu in 1918; the H1N1 flu in 2009; and HIV/AIDS among them. Dr. Tedros added, "Describing the situation as a pandemic does not change WHO’s assessment of the threat posed by the virus. It doesn’t change what WHO is doing, and it doesn’t change what countries should do.”
What makes this situation unusual is the WHO has never seen a pandemic sparked by a coronavirus. On Wednesday afternoon, Johns Hopkins University said that its data showed confirmed cases of coronavirus around the world had reached 121,564, in 115 countries and regions. The number of cases in the U.S. rose to 1,050. Roughly 80 percent of COVID-19 cases tend to be mild or moderate, and more than 66,000 people globally have recovered. In Italy, where the largest outbreak outside of China pushed the country to invoke an unprecedented nationwide quarantine, the number of cases climbed Wednesday to 10,149, with 631 deaths, according to Johns Hopkins data.

 
- Wall Street Journal, 03.11.20
 

WHO: EMERGING HEALTH CONCERNS IN 2020

 
 
 

The World Health Organization Wednesday declared the coronavirus outbreak a pandemic. Earlier this year, the WHO defined its 13 urgent health threats this decade:

  1. Understanding that "climate change is a health crisis"
  2. Safety for health care workers needs to be assured
  3. Inequalities in health care
  4. Little or no access to medicines
  5. Infectious diseases kill about 4 million people globally every year
  6. Preparing for epidemics and a possible pandemic
  7. Food insecurity, dangerous products like tobacco, and unhealthy diets
  8. Investment in educating more health workers
  9. Adolescents must be protected
  10. Public trust must be restored in health institutions
  11. Medical questions and ethical implications from new technologies
  12. Threat of antimicrobial resistance
  13. Water, sanitation and hygiene at all health care facilities must be improved
 
- Axios.com, 01.20.20
 
 
 
MARKET UPDATE - 03/11/2020 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
23533.22
 
-1464.94
 
S&P 500
 
2741.38
 
-140.85
 
NASDAQ
 
7952.05
 
-392.20
 
10-year Treasury yield
 
0.84
 
+0.04
 
Gold (CME)
 
1641.40
 
-17.70
 
Silver (CME)
 
16.72
 
-0.18
 
Oil (NY Merc)
 
32.98
 
-1.38
 
Natural Gas ($/MMBtu)
 
1.87
 
-0.06
 
Cattle (CME)
 
103.07
 
-2.37
 
Prime Rate
 
4.25
 
NC
 
Euro (per U.S. dollar)
 
0.88
 
NC
 
Canadian dollar (per U.S. dollar)
 
1.37
 
NC
 
Mexican peso (per U.S. dollar)
 
21.38
 
+0.54
 
30-year fixed mortgage rate (Freddie Mac 03/05/2020)
 
3.29
 
-0.16
 
*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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