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Colorado - Tue. 07/30/24 |
A Free Business Publication from Alpine Bank
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ALEXANDER MOUNTAIN FIRE NEAR LOVELAND GROWS TO 950 ACRES
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The Alexander Mountain wildfire, sparked 10 miles west of Loveland on Monday morning, burned across 950 acres in a matter of hours, forcing evacuations for roughly 37 square miles of Larimer County and shutting down U.S. 34 to Estes Park. Burning in the Arapahoe and Roosevelt National Forests, there was no containment on Monday as dozens of fire crews and at least 11 aircraft responded to the rapidly spreading fire. County officials began issuing mandatory evacuation orders just before noon. People living near Storm Mtn., Palisade Mtn., Drake, Dam Store, Waltonia Road, Sylvan Dale to Ellis Ranch, Eden Valley to Sunrise Ranch and CR 18E from Pole Hill to Pinewood Reservoir were ordered to evacuate immediately. Rough boundaries for the mandatory evacuation zone include Buckhorn Road to the east, Storm Mountain to the north, the town of Drake to the west and Pinewood Reservoir to the south. Fire officials have not determined what caused the fire.
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U.S. IPO MARKET'S $23.2B IN YTD PROCEEDS EXCEEDS THE $19.4B RAISED FOR ALL OF 2023
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The U.S. initial public offering market has raised $23.2 billion in proceeds in the year to date, surpassing the $19.4 billion raised for all of 2023 — with five months still to go. That’s according to Renaissance Capital, a provider of IPO exchange-traded funds and institutional research, which has counted 82 IPOs in 2024, up about 37 percent from the same period a year ago. The data comes after the biggest deal of the year was a success last week, in a positive signal for fall offerings. Michigan-based Lineage Inc. LINE, a cold-storage warehouse real-estate investment trust, raised $4.4 billion in a deal that priced near the high end of its proposed range after being upsized. The stock gained 6.3 percent in its debut, which came at a valuation of $19.2 billion.
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METRO DENVER DRIVERS SPENT AN AVERAGE OF 37 HOURS IN TRAFFIC LAST YEAR
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Drivers navigating metro Denver last year spent an average of 37 hours stuck in traffic congestion, 16 percent more than in 2022, but 11 percent below pre-pandemic delays, according to a global transportation data firm’s latest analysis. The average speed of vehicles moving toward downtown Denver remains around 14 mph, faster than the 11 mph in New York City and Chicago. But riding a bicycle where unimpeded routes are available can be faster. And when the Regional Transportation District’s public transit functions as it was designed to, riding a bus or train can be faster than driving a car. The analysts compare data from 946 cities in 37 countries. In the U.S., Denver ranked 22nd for traffic delays. The increase, up from 32 hours in 2022 and down from about 41 hours in 2019, jibes with similar increases in large U.S. cities, where the average is 42 hours a year lost in traffic, costing the U.S. economy an estimated $70 billion.
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SHOWTIME FOR NEW COLORADO SPRINGS MUSIC VENUE
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With less than two weeks until pop band One Republic takes the stage Aug. 9 at the 8,000-seat Ford Amphitheater that's under construction on Colorado Springs' north side, the outdoor music venue isn't quite ready for its first show. The amphitheater is expected to be finished in time for an Aug. 6, invitation-only event that VENU will host for about 5,500 shareholders, community leaders, project contractors and other guests. That private gathering will feature the Colorado Springs Philharmonic, performers from the Springs-based School of Rock and country music artist Phil Vassar. The open-air music venue, southeast of I-25 and North Gate Boulevard and part of the Polaris Pointe mixed-use development, broke ground a year ago. In addition to One Republic, which will perform three shows over the weekend beginning Aug. 9, about 20 more performers have been booked through mid-October. A complete schedule can be found online at fordamphitheater.live.
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COLORADO'S 14ERS HAVE A HUMAN WASTE PROBLEM
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A crusade to combat the proliferation of poop in Colorado’s backcountry entered a new frontier this week with the creation of a “Clean 14” initiative focusing on the state’s iconic 14,000-foot peaks. A kiosk opened Tuesday at the north trailhead to Mount Elbert, the state’s highest peak at 14,437 feet, where hikers can pick up free bags designed to pack out human waste. Bags used on the trail can be left in a receptacle contained in the kiosk, 4,400 feet below the summit. The Clean 14 effort is a partnership involving the Colorado Fourteeners Initiative, the Leave No Trace Center for Outdoor Ethics and Pact Outdoors, a Gunnison company that produces the pack-out bags.
Last year, Pact Outdoors participated in a program called Doo Colorado Right involving another of its products, Pact Lite, a tool designed to reduce human waste in the backcountry by burying it with a substance that accelerates decomposition. Through a grant from the Colorado Tourism Office, in association with the Tourism and Prosperity Partnership of Gunnison and Crested Butte, Pact Outdoors distributed thousands of free Pact Lite kits at ranger stations, Colorado visitor centers and trailheads. Doo Colorado Right is back again this year with new distribution partners, including the Steamboat Chamber of Commerce, the Aspen Resort Chamber, the Telluride Tourism Board and the Town of Vail.
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MORE EVIDENCE OF INVASIVE ZEBRA MUSSELS IN COLORADO RIVER
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A week after Colorado Parks and Wildlife announced initial evidence of invasive zebra mussels in the Colorado River near Grand Junction, the agency has confirmed more signs. The species, known for its rapid reproduction rate, poses an “extreme risk” to Colorado’s ecology. As they reproduce, the mussels could also clog infrastructure used to pull water from the Colorado River. Last week, Parks and Wildlife announced a section of the Colorado River and the Government Highline Canal were considered “suspect” for the presence of zebra mussels. The area is now considered “positive” for the species. One additional zebra mussel veliger was found in the Government Highline Canal and two more were discovered in the Colorado River at two separate locations between De Beque and Grand Junction. Parks and Wildlife are urging anyone who is boating, floating, paddling, or fishing in the Colorado River to clean, drain and dry their equipment to prevent the mussels from spreading.
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NEW CHIEF JUSTICE OF STATE SUPREME COURT FROM GJ
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There’s a new chief justice of the Colorado Supreme Court, and she is from Grand Junction. On Friday, Supreme Court Justice Monica M. Márquez was sworn in as Colorado’s new chief justice, making her the first Latina in Colorado’s history to hold the title of chief. Justice Márquez succeeds Justice Brian D. Boatright as chief justice of the Supreme Court after a three-year term in the leadership position. Márquez was born in Austin, Texas, and grew up in Grand Junction. She also becomes the second chief justice from the Western Slope and the third female chief justice in Colorado history. Of the 11 openly LGBT state supreme court justices currently serving in the U.S., Márquez is the longest-tenured. Her father, Jose D.L. Márquez, was the first Latino judge to serve in Mesa County District Court, and the first Latino judge appointed to the Colorado Court of Appeals.
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FIRE SOUTH OF NORWOOD PROMPTS EVACUATIONS
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Evacuations were ordered for homes near a wildfire burning two miles south of Norwood Monday afternoon. Multiple agencies responded to the fire, which gave off heavy smoke, but initially did not threaten structures. As of 1:15 p.m., though, evacuations were ordered within a one-mile radius, including Mountain View homes and homes near V-44 Road in San Miguel County. The San Miguel County Fairgrounds were made available for sheltering large animals - call 970-729-1660 for information. As of 3:20 p.m., the intersection of Lone Cone and Y23 road was closed. San Miguel Power Association reported a power outage related to the fire, affecting about 180 customers on Wilson Mesa; power was restored within about an hour.
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MONTROSE CAREER FAIR & FESTIVAL ON AUG. 7
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The Colorado Rural Workforce Consortium’s (CRWC) Colorado Workforce Center in Montrose, in partnership with Colorado Mesa University Montrose campus, will host the CMU Montrose Career Fair & Festival on Wednesday, Aug. 7, from 4 to 7 p.m. at the CMU-Montrose quad, 245 S. Cascade Ave. Explore available job positions and learn more about career paths and education opportunities in Montrose. The event is sponsored by the CMU Foundation, Montrose Regional Health and Cedar Point Health. To learn more, visit online at cdle.colorado.gov/jobs-training/workforce-centers or call 970-249-7783.
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EAGLE COUNTY FAMILIES RECEIVED $3.1M IN TUITION CREDITS DURING STATE'S FIRST YEAR OF UNIVERSAL PRESCHOOL
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In the inaugural year of Colorado’s universal preschool program, Eagle County families received $3,106,854 in tuition credits, according to Shelley Smith, Eagle County School District’s director of early childhood education. While not finalized, families are expected to receive around a 2 percent increase in credits for the 2024-25 school year, Smith said. This increase follows the additional $23.7 million — from a 2020 tobacco tax — that Colorado voters approved to go to funding preschool last November. Universal preschool provides a monthly tuition credit to families with kids turning 4 by Oct. 1 to attend preschool. The tuition credits are for up to 15 hours of care a week; families still have to pay the remaining tuition balance. Smith reported that by the end of the year, the school district had 294 children who were “enrolled and funded” by universal preschool.
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SUMMIT COUNTY RESOURCE FAIR
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More than 25 Summit County community organizations, including nonprofits and the Summit School District, will host a resource fair on Aug. 1. Resource Palooza will be held from 4 to 7 p.m. at the Summit County Community and Senior Center in Frisco. Families of Summit School District students will have access to a range of free school supplies including pencils, erasers, composition notebooks and headphones. District officials say they will have enough supplies for over 1,500 students for the 2024-25 school year thanks to a supply drive organized by the senior center, Freeport McMoRan, Summit Rotary, Smart Bellies, Summit 50 Plus and grassroots community fundraising. The event will also feature treats, activities and giveaways, as well as the chance to connect with dozens of services and resources in the county. More information on school supplies can be found online at SummitK12.org/utility-link/2024-resource-palooza.
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KVNF RAFFLES OFF NEW TOYOTA TACOMA TRUCK
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KVNF Community Radio is raffling off a brand new 2024 Toyota Tacoma SR5 valued at $45,944. This annual raffle is a fundraising effort used towards KVNF’s operating costs. Tickets are 1 for $20 or 3 for $50. Tickets will be sold with online sales ending Aug. 28 at 5 p.m. The drawing is Aug. 30 at 10 a.m. Tickets are anticipated to sell out and can be purchased online at kvnf.org/raffle, at the KVNF office, 233 Grand Ave. in Paonia, or at Hellman Motor Co., 750 Hwy. 92, in Delta. The summer raffle is sponsored, in part, by Alpine Bank.
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CHRIS KLUG FOUNDATION’S 2024 WINE & DINE
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The Chris Klug Foundation's 2024 Wine & Dine takes place Friday, Aug. 2, 5 to 10 p.m., at the Snowmass Club. This incredibly special night honors the 2024 recipients of our CKF Awards. Our Hero Award, Bounce Back, Give Back Award, and Community Champion Award celebrate three courageous and dedicated trailblazers in the donation and transplantation community. The Snowmass Club will serve a sensational 3-course meal paired with exquisite wine from Schramsberg Winery. There will also be an open bar, a silent auction with excellent items up for bid, a dessert bar, and an afterparty with the Derek Brown Band. Tickets are available online at chrisklugfoundation.org/wine-and-dine.
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TOP JOB IN COLORADO, ALSO ONE OF THE LOWEST PAYING
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The top job in Colorado is also among one of the lowest-paid jobs. The latest data from the U.S. Bureau of Labor Statistics allows anyone to dig into the numbers to see everything from the number of jobs and how much they pay, to how they are trending and what the top fields are. Here's how some of those comparisons shake out:
Most common jobs in Colorado
- Fast food and counter workers, 77,500 jobs
- Retail salespersons, 75,200
- Stockers and order fillers, 55,430
- Cashiers, 55,270
- Registered nurses, 53,480
- Customer service representatives, 46,910
- Business operations specialists, 46,620
- Software developers, 45,270
- General and operations managers, 44,710
- Waiters and waitresses, 44,230
Highest-paying jobs in Colorado
- Neurologists, $409,690 annually on average
- Orthopedic surgeons (except pediatric), $379,540
- Obstetricians and gynecologists, $353,190
- Surgeons, $333,990
- Radiologists, $333,420
- Emergency medicine physicians, $328,850
- Physicians, all other, $323,020
- Ophthalmologists, except pediatric, $307,000
- General internal medicine physicians, $275,870
- Chief executives, $259,550
Lowest-paying jobs in Colorado
- Taxi drivers, $30,810 annually on average
- Fast food cooks, $33,250
- Hosts and hostesses at restaurants, lounges and coffee shops, $33,420
- Locker room, coatroom and dressing room attendants, $33,780
- Pressers of textiles, garments and related materials, $33,780
- Graders and sorters of agricultural products, $33,800
- Library assistants, $34,170
- School bus monitors, $34,260
- Fast food and counter workers, $34,260
- Laundry and drycleaning workers, $34,630
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MARKET UPDATE - 07/29/2024 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 07/25/2024)
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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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