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Colorado - Tue. 10/01/24 |
A Free Business Publication from Alpine Bank
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DOCKWORKERS LAUNCH STRIKE AT PORTS FROM MAINE TO TEXAS
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Members of the International Longshoremen’s Association, which represents 45,000 dockworkers at East Coast and Gulf Coast ports, began picketing early Tuesday at cargo terminals that handle more than half of American import and export volumes as the contract with port employers expired. Port employers raised their offer on wages to a 50 percent increase over six years, from an earlier 40 percent increase, along with other improvements in benefits in the 24 hours before the strike deadline. The ILA is seeking a 77 percent wage increase over six years as a condition to sit down to talks with maritime employers. The walkout shuts down some of the country’s main gateways for imports of food, vehicles, heavy machinery, construction materials, chemicals, furniture, clothes and toys.
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DENVER FILM FESTIVAL 2024: NOV. 1-10
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The 47th Denver Film Festival, Nov. 1-10, is moving all but one of its red-carpet screenings to a new venue this year, alongside Colorado premieres such as “The Piano Lesson” and “The Brutalist,” and in-person guests including Patricia Clarkson, Marianne Jean-Baptiste and Jesse Tyler Ferguson. The festival will offer 185 narrative features, shorts, and documentaries, as well as parties, panels, workshops and a gala. Tickets to screenings, plus special and gala presentations and Red Carpets, are on sale to Denver Film members on Oct. 3, and the public on Oct. 4, at denverfilm.org. The festival’s opening and closing-night red carpet screenings will be at Museum of Contemporary Art Denver’s Holiday Theater, a historic building the museum restored in the Highland neighborhood. Denver Film’s Sie FilmCenter will serve as the festival anchor, with additional screenings at the Ellie, Denver Botanic Gardens, AMC 9 + CO 10, and the MCA Holiday Theater.
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ONLINE SPORTS BETTING GIANT PLANTS U.S. HQ IN DENVER
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Online sports betting company, United Kingdom-based bet365, is establishing its U.S. headquarters in Denver, bringing more than 800 jobs to the area. The company expects to onboard more than 300 employees in its first year of operations, with 50 employed by the time of opening. The company will offer positions across customer service, legal, marketing and software development. The company renovated two floors at the One Platte building located at 1701 Platte St. The company estimated spending over $40 million in capital investment to build out the space. The state approved up to $14.06 million in performance-based job growth incentives contingent on bet365’s creation of 807 net new full-time jobs with a minimum salary of $89,700, or 100 percent of the annual average wage of Denver County or any county in Colorado the company located in an eight-year period. Bet365 agreed to an average salary of $97,238, or 108.4 percent of the average annual wage in Denver.
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DISH NETWORK STRIKES MERGER DEAL WITH DIRECTV
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Dish Network struck a deal Monday to sell its satellite and streaming TV business to DirecTV for $1 and debt assumption while parent company EchoStar Corp. holds onto a refinanced mobile phone business. The deal combines the Douglas County-based company’s video businesses with El Segundo, California-based DirecTV, the other U.S. direct-to-home satellite TV service. It would also move about $9.75 billion of Dish Network debt into the post-merger TV business. The deal would be predicated on federal regulators’ approval and Dish Network being able to complete an arranged payoff of $2 billion in Dish Network debt coming due in November. EchoStar Corp., the Dish Network sister company formed by billionaire Charlie Ergen, would emerge from the deal owning the Boost Mobile wireless phone business and 5G network business and its global satellite internet and satellite services businesses. If approved, the transactions are expected to close in late 2025.
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SIX SENSES HOTEL WILL BE $285 MILLION PROJECT
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Plans are underway to build a Six Senses (SS) Hotel, the first of its kind in the U.S., on the last large hotel site available in Mountain Village, located on the parking lot beyond the Westemere building, with a price tag of $285 million. There have been no new hotels built in Mountain Village since 2008. Preliminary plans for the first floor of the SS resort feature a bistro offering casual dining in the lobby area, an upscale sundries market and SS-operated retail. There will also be a SS signature 10,000 square foot spa equipped with a full suite of wellness offerings catered specifically to the guest experience in Telluride. Additional SS flourishes include Alchemy Bar, a workshop space where guests learn to make natural handmade products like soap, bath salt and essential oils; an Earth Lab where visiting practitioners and local experts hold lectures and classes; and an “experience center” curating local adventures and events.
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THE SHED, A NEW REGIONAL YOUTH HANGOUT SPACE IN TELLURIDE
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Youths in San Miguel County will soon have a new space to hang out in Telluride. The Shed is gearing up to open this fall and has new support from the Town of Mountain Village. Communities That Care (CTC) and Tri-County Health Network will be overseeing the programming at The Shed. The space, next to the post office in Telluride on the Voodoo property, still has ongoing renovation work. The Telluride Housing Authority will own The Shed, but dozens of youths, community members and elected officials from Telluride, Mountain Village, Ophir, Norwood and San Miguel County are behind the effort to grow support for the new youth hangout space. Once it’s open, The Shed will remain open during school hours and throughout the school year and be available to all students in the county. The community space will provide networking opportunities for kids to connect with nonprofits that serve youth.
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VOLUNTEERS NEEDED AT OURAY ICE PARK: LOVE YOUR GORGE
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Join the Uncompahgre Watershed Partnership and the Ouray Ice Park in beautifying and maintaining the watershed around the Uncompahgre River Gorge on Saturday, Oct. 12, from 9 a.m. to 1:30 p.m. This volunteer event starts with three hours of work around the park and gorge, and ends with lunch, giveaways, and a tour of the park. Special thanks to the City of Ouray and Ouray Grocery for supporting this event with donations. For more information, and to sign up, please visit the link below.
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EPA CELEBRATES $4.9 MILLION GRANT TO SOUTHERN UTE TRIBE TO CUT AIR POLLUTION
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Officials from the regional and national offices of the Environmental Protection Agency visited the Southern Ute Indian Tribal Council on Monday following the announcement that the tribe won a $4.9 million grant to reduce methane emissions from natural gas extraction. The award is expected to fund the implementation of the minor source review program for new oil and gas sources, an increased regulatory responsibility that the tribe took on this summer.
By increasing oversight and regulation of natural gas extraction on the reservation, the SUIT told the EPA it estimates it will reduce emissions by 247,000 metric tons of carbon dioxide equivalent over the next five years, and 1.2 million tons over the next 25 years. There are about 250 minor sources on the reservation that will be subject to the tribe’s minor source program. All told, the tribe estimates that increased regulation and oversight will mean a 29 percent decrease in greenhouse gas emissions from minor oil and natural gas sources.
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WORLD CHAMPION TITLE BOXING MATCH "LEGENDS ON THE ANIMAS" COMING TO DURANGO
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For the first time since 1915, professional boxing is coming back to Durango. On Oct. 12, Andrew “Hurricane” Hernandez will battle Jeremy “The Boxing Barber” Ramos for the vacant LBF Super Middleweight World Championship title at the La Plata County Fairgrounds. “Legends on the Animas” will also feature co-main event Aaron Pryor Jr and amateur boxing bouts between local and visiting athletes. Former heavyweight Champion, James “Bonecrusher” Smith, LBF legend and Muhammed Ali’s bodyguard, Mike Cooley, and Mike “Baby Jack” Dempsey, descendant of the famous boxer Jack Dempsey whose famed 1915 boxing match in Durango is memorialized on the wall mural outside El Rancho, will be in attendance. Tickets for the upcoming event are available on EventBrite and locally at El Rancho Tavern and Target Rental of Durango and Cortez. For more information, visit the link below.
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FRONTIER AIRLINES FLYING INTO EAGLE COUNTY THIS WINTER
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Frontier Airlines will begin service this winter into the Eagle County Regional Airport. Officials from Frontier Airlines, Eagle County and the EGE Air Alliance have scheduled a press conference for Tuesday at 10 a.m. to announce destinations and pricing for the flights headed this way this winter. Alaska Airlines announced in July that in December it would begin service three times per week from San Diego and Seattle. Frontier’s flights are coming to Eagle County without minimum revenue guarantees. Those guarantees are often used to attract airlines, and are payment based on passenger levels. If a flight doesn’t meet those minimum passenger levels, the destination makes up the revenue shortfall. Frontier’s aircraft and pilots are all certified to operate at Eagle County’s elevation, and especially the takeoffs required to clear Red Hill west of the airport’s runway.
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YAMPA VALLEY COMMUNITY FOUNDATION ANNOUNCES RECORD 2024 GRANT FUNDING
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The Yampa Valley Community Foundation announced a record-setting community grant cycle this year with total awards jumping by 22 percent compared to 2023. From funding a solar array installation to supporting a river restoration project and free lunches for local students, the record $661,068 in funding was directed to 80 different nonprofits in Routt and Moffat counties.
The foundation said the annual grant program puts an emphasis on the unrestricted, general operating grant category with half of its funding, or $340,325, allocated this year to a range of organizations from Mountain Valley Horse Rescue to the Steamboat Art Museum, the Colorado Cattlemen’s Agricultural Land Trust and Special Olympics Steamboat & Yampa Valley.
On the program grant side of the grant cycle this year, the Yampa Valley Community Foundation directed $270,743, or 41 percent of its 2024 grant award total, to support 33 applicants including funding for a Yampa River restoration project led by the Colorado Water Trust. The total amount of grant money awarded this year jumped from just over $500,000 in 2023 and 2022 and from the nearly $300,000 dispersed in 2020.
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SUMMIT HISTORICAL SOCIETY ANNOUNCES NEW DIRECTOR
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The Summit Historical Society has announced that Jordan Bennet will serve as the organization’s director. Bennett has a decade of experience with museums and studying the historic mining industries in Ohio, Idaho and Colorado. She recently graduated from the University of Denver with a Master of Arts in anthropology and a specialization in museum and heritage studies. Her thesis research focused on the collaborative efforts necessary to create a museum exhibit solely highlighting Chinese immigrant miners in the Boise, Idaho area. As director, Bennett will oversee the historic society’s strategic initiatives that preserve and promote Summit County’s heritage. She values fostering community engagement and wants to ensure that the historical society remains a vital resource for both residents and visitors alike. For more information about the Summit Historical Society, visit SummitHistorical.org or contact sally@summithistorical.org.
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BEST RETIREMENT TOWNS FOR AMERICA'S MIDDLE CLASS
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In September, GOBankingRates ranked the best retirement towns in the U.S. for the middle class in 2024. To qualify for this study, a city had to have a population of at least 10,000 residents, with at least 25 percent of the population aged 65 and over.
The following factors were considered for each city:
- Total population
- Population aged 65 and over
- Total households
- Median household income
- Number of households receiving Social Security benefits
- Number of households receiving retirement income
- Average Social Security benefits for households receiving them
- Average retirement income for households receiving it
The 10 best retirement towns for America’s middle class:
- The Villages, Fla.
- Green Valley City, Ariz.
- Sun City West, Ariz.
- Hot Springs Village, Ark.
- Venice, Fla.
- Sun City, Ariz.
- Sun City Center, Fla.
- Punta Gorda, Fla.
- Mesquite, Nev.
- Englewood, Fla.
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MARKET UPDATE - 09/30/2024 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 09/26/2024)
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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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