Colorado - Wed. 04/21/21 A Free Business Publication from Alpine Bank View Online View in Browser
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CANNABIS SALES COMPUTER SYSTEM GOES DOWN ON BIGGEST SALES DAY 4/20

 
 
 

April 20, or 4/20, is known as a national holiday for marijuana users and, although there are generally no more "smoke-ins" or other events in states where marijuana is legalized, 4/20 still is the highest-selling day of the year. The point-of-sale computer system for 1,000 dispensaries in Colorado and 13 other states, FlowHub, crashed at 10 a.m. yesterday, causing delays of up to an hour in processing each sale at many cannabis retailers.

 
- Denver Post, 04.21.21
 

NETFLIX SUBSCRIBER GROWTH FALLS SHORT OF PROJECTIONS AS ECONOMIES REBOUND

 
 
 

Last year, as countries around the world closed down, and people were homebound because of the pandemic, Netflix Inc. made significant gains in subscriber numbers as people looked for more at-home services. Netflix projected that growth would continue into 2021, with an estimate that it would add six million new global subscribers in the first quarter. Actual numbers came in at four million, causing Netflix shares to drop. In addition to the economic rebound and people emerging from pandemic-related lockdowns, Netflix is also facing increasing competition from streaming operations launched by Walt Disney Co., Amazon, AT&T and other rivals.

 
- Wall Street Journal, 04.21.21
 

FANS SHOW THEIR POWER, ENGLISH SOCCER CLUBS PULL OUT OF SUPER LEAGUE PLAN

 
 
 

The proposed new Super League that merged the major soccer clubs of England, Spain and Italy into an elite circuit collapsed Tuesday in sudden and dramatic fashion as six teams of the English Premier League formally ended their involvement in the Super League as fans, players, and businesses all expressed opposition to the new league. Some of the teams, including Arsenal and Tottenham Hotspur, made apologies to fans for the "anxiety" and "upset" caused by the Super League proposal.

 
- Wall Street Journal, 04.21.21
 

GARFIELD COUNTY CLEANUP OF HOMELESS CAMP A COMPLEX, EXPENSIVE PROBLEM

 
 
 

After the city of Glenwood Springs produced an estimate of the cleanup of the homeless sites above Walmart at $200,000, Garfield County public health officials outlined the problems of the cleanup for county commissioners. Much of the homeless-campsite is located on private property inside Garfield County. The cleanup is complex because of propane tanks, flammable liquids, human waste, and possibly hypodermic needles, in addition to the tents, camping equipment, mattresses and even larger appliances. The property owner has given law enforcement officials permission to enforce trespassing laws on his property and the county will post private property and "no trespassing" signage.

 
- GS Post-Independent, 04.21.21
 

PITKIN COUNTY: LOWER CASE NUMBERS POINT TO NO RESTRICTIONS FOR SUMMER

 
 
 

Pitkin County Manager Jon Peacock Tuesday gave a COVID-19 update to county commissioners and documented the decline in seven-day case numbers and the seven-day incidence rate. Both case numbers and the incidence rate were at the lowest level since October and Peacock was optimistic that the low numbers indicated that there would be no capacity restrictions indoors or outdoors by summer and the county could eliminate all restrictions and protocols related to the dial system by Memorial Day weekend. The county plans to re-open all its buildings to the public on June 1.

 
- Aspen Times, 04.21.21
 

GRAND VALLEY FRUIT GROWERS OPTIMISTIC ABOUT THIS YEAR

 
 
 

The snow and extreme cold temperatures from the latest storm remained primarily on the Front Range, with up to nine inches of snow in Boulder and temperatures in the teens in Denver Monday night. Palisade peach growers said that for the most part there were no problems from freezing temperatures in the Grand Valley this week. Peach trees are in full bloom and it would take low temperatures of 25 degrees to kill off 90 percent of the blossoms. Bruce Talbott of Talbott Farms in Palisade said he is expecting a 2021 crop of 80 percent to 90 percent of normal on his 400 acres of peaches, with any reduction due to the October 2020 freeze.

 
- Denver Post, 04.21.21
 

UNITEDHEALTH GROUP DONATES $30 MILLION FOR HEALTH CARE ON WESTERN SLOPE

 
 
 

Colorado Attorney General Phil Weiser was in Grand Junction Tuesday to announce that Rocky Mountain Health Plans and its parent company, UnitedHealth Group, donated $30 million to expand access to health care on the Western Slope. Most of the donation, $25 million, will go to the Rocky Mountain Health Foundation, a nonprofit of the two health care firms that provides health-related grants to area groups four times a year. To date, the foundation has provided $5.7 million in grants to 209 nonprofit groups on the Western Slope. With the additional funding, the annual grants will increase to $3.4 million a year.

 
- GJ Daily Sentinel, 04.21.21
 

EAGLE COUNTY SCHOOLS RESUME PROGRAM TO REDUCE WASTE

 
 
 

Last year, Eagle County Schools launched a program designed to reduce the waste that goes to landfills by 70 percent in three years with the implementation of a district-wide waste reduction effort. That program got sidetracked and delayed by COVID-19. On March 11, the Eagle County Board of Education voted to establish "Green Teams" at each of the district's schools and relaunch the program to reduce landfill waste and increase recycling. The three-year program will begin with recycling efforts, including adding bins, supplies and signage about recycling. The second year will add composting programs and the third year will focus on sustainable education efforts for additional waste and energy reduction.

 
- www.vaildaily.com, 04.21.21
 

LOOKING FOR CHEAP FLIGHTS? CHECK THESE CITIES

 
 
 

Most travel industry analysts see an upturn in airline bookings this summer as more Americans are vaccinated and destinations eliminate quarantines and other restrictions on travelers. Travel booking app Hopper reports a 58 percent increase in searches for domestic summer travel and travel website Scott’s Cheap Flights this week released its list of best U.S. airports for cheap domestic flights:

  • 1. Los Angeles LAX
  • 2. Chicago ORD
  • 3. (tie) Minneapolis MSP
  • 3. (tie) Austin AUS
  • 5. Denver DEN
  • 6. Dallas DFW
  • 7. Detroit DTW
  • 8. Orlando MCO
  • 9. Atlanta ATL
  • 10. Las Vegas LAS
 
- CNBC.com, 04.18.21
 

SBA UPDATE ON RESTAURANT REVITALIZATION FUND

 
 
 

The U.S. Small Business Administration recently provided details for the Restaurant Revitalization Fund (RRF) program, including a sample application, guide, and cross-eligibility chart. While the SBA does not state a date for application acceptance, they do say registration with SAM.gov is not required, nor is a DUNS or CAGE identifier. The first 21 days of the program will be open to “priority groups.” The SBA also states that PPP loans received by RRF applicants (first and/or second round) will affect the RRF applicant’s funding calculation. Visit SBA.gov for more information.

 
- Dalby, Wendland & Co., P.C., www.dalbycpa.com
 
 
 
MARKET UPDATE - 04/20/2021 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
33821.30
 
-256.33
 
S&P 500
 
4134.94
 
-28.32
 
NASDAQ
 
13786.27
 
-128.50
 
10-year Treasury yield
 
1.56
 
-0.03
 
Gold (CME)
 
1777.30
 
+7.90
 
Silver (CME)
 
25.83
 
NC
 
Oil (NY Merc)
 
62.44
 
-0.94
 
Natural Gas ($/MMBtu)
 
2.72
 
-0.02
 
Cattle (CME)
 
120.57
 
+0.22
 
Prime Rate
 
3.25
 
NC
 
Euro (per U.S. dollar)
 
0.83
 
NC
 
Canadian dollar (per U.S. dollar)
 
1.26
 
+0.01
 
Mexican peso (per U.S. dollar)
 
19.97
 
+0.16
 
30-year fixed mortgage rate (Freddie Mac 04/15/2021)
 
3.04
 
-0.09
 
*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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