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Colorado - Tue. 10/29/24 |
A Free Business Publication from Alpine Bank
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VOLKSWAGEN AIMS TO SLASH JOBS & CLOSE PLANTS
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Volkswagen’s works council said the auto giant aims to shut at least three factories in Germany, downsize its remaining plants and lay off tens of thousands of staff as part of a cost-cutting drive. The warning Monday comes after weeks of negotiations between Volkswagen and labor representatives who hold seats on the automaker’s supervisory board. Daniela Cavallo, head of the works council, said the auto giant also wants to cut workers’ pay by 10 percent and freeze pay increases for the next two years. Volkswagen added that its main task now is to secure its future and find ways to keep investing in its business on a sustainable basis. Volkswagen is under pressure to cut costs amid a tough economic environment, the need to invest in electric vehicles and increasing competition from Chinese EV makers in both China and Europe. The next collective bargaining meeting between the company and its worker representatives is set to take place on Wednesday.
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ROUGHLY 700 HOMES EVACUATED AFTER WILDFIRE SPARKS IN TELLER COUNTY
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Approximately 700 homes are under mandatory evacuation orders after a wildfire sparked in Divide on Monday, according to the Teller County Sheriff’s Office. The Highland Lakes fire was burning on nearly 90 acres as of 7 p.m. Monday with no containment. One home has been destroyed. No injuries have been reported. Sheriff’s officials know the fire was started by a person but declined to release further information because of the ongoing investigation. Mandatory evacuation zones include Cedar Mountain north to Golden Bell, Wayward Wind, Snowhill, Aspen Village, Broken Wheel, Alpine View, Beaver Lake Circle, Beaver Lake Place and Star View Trail. Teller County officials declared a disaster emergency late Monday night and are in contact with Gov. Jared Polis about dispatching state resources. A shelter for people displaced by the fire is set up at Woodland Park Community Church.
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ELDORA TO OPEN BRAND-NEW LODGE AT ITS LOWER MOUNTAIN ON WEDNESDAY
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Eldora will open a new 12,000-square-foot lodge on Wednesday in its lower mountain area to provide a new gathering space for visitors and a home for two programs. The new Caribou Lodge will house the Eldora children’s ski school and Ignite Adaptive Sports. It’s an energy-efficient building in accordance with green building codes that will include a café, modern restrooms, a retail shop, a second-floor deck and spaces for lessons and gear rentals. In addition to housing the Eldora children’s ski school, the new lodge will be the first-ever permanent home for Ignite Adaptive Sports, a non-profit partner of Eldora since 1975 and the second oldest adaptive winter sports program in Colorado. Ignite helps people with disabilities ski, and about 250 volunteers teach lessons to all the athletes. Last season, Ignite provided more than 1,300 lessons to roughly 360 athletes.
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NPS GRANTS TO REVIVE CITY PARKS
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Two historic but neglected city parks, one in the heart of Denver and the other on Arvada’s eastern edge, just got a multimillion-dollar shot of hope from the National Park Service. Denver is getting $8.4 million in a matching grant to brighten up and activate La Alma Lincoln Park at West 13th Avenue and Osage Street, one of the oldest neighborhoods in the city. The design phase of La Alma Lincoln Park as a modern recreation and exercise hub in a neighborhood underserved by open space begins now, and construction could begin in 2026, with a potential grand opening in late 2027. The matching money will come from the dedicated park acquisition and development sales tax Denver residents approved in 2018.
Arvada, meanwhile, was awarded $7.3 million that it will match to revive the eroded and weedy Gold Strike Park, at the confluence of Ralston and Clear creeks. The NPS Outdoor Recreation Legacy Partnership award for Gold Strike, at West 56th Avenue and Ralston Road, is a boost “especially for the east side of the city, where many recreational facilities are aging,” said Maki Boyle, Arvada’s senior landscape architect. “It will feature nature-based play elements and provide outdoor access for historically underserved and low-income communities. Arvada’s Gold Strike overhaul has a final design and is ready for construction.
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NEW ONLINE TOOL ESTIMATES THE COST OF MEDICAL CARE IN COLORADO
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Have you ever wondered how much a surgery, X-ray or medical appointment is going to cost you? A new Colorado tool, launched by the state and nonprofit PatientRightsAdvocate.org, is offering patients an opportunity to easily search for these answers. Called the Colorado Hospital Price Finder, the online tool allows you to search for a hospital and see how much it charges based on the payer, whether that’s an insurance company, employer or otherwise. While the tool offers information based on past charges, it warns that actual costs should be verified by the hospital or provider. The tool utilizes health care information made available under a 2022 state law that requires hospitals to post clear, accessible pricing information for all items and services. Colorado’s Dept. of Health Care Policy & Financing released a similar tool in September.
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CDOT CLOSES INDY PASS THROUGH WEDNESDAY A.M., AT LEAST
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Independence Pass was closed on Monday afternoon in both directions due to expectations of a winter storm. The closure was expected to be in effect through Wednesday morning. “Please note that this is not necessarily a seasonal closure. CDOT will reassess conditions on Wednesday to determine if Independence Pass will reopen this season,” a Pitkin County alert said. Last year, on Oct. 26, the winter gates of Hwy. 82 were locked east of Aspen and west of Twin Lakes for the same reason. At the time, CDOT said the closure was not necessarily seasonal. However, that ended up being the case, as the Indy Pass gates were not reopened until May 31. The National Weather Service in Grand Junction issued a winter weather advisory that went into effect at 6 p.m. Monday for areas above 9,000 feet. The advisory said snow was expected in the Elk Mountain range and areas around Aspen and Snowmass.
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TRI-STATE NETS NEARLY $2.5 BILLION FOR ENERGY TRANSITION
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Wholesale power supplier Tri-State Generation and Transmission Association is receiving nearly $2.5 billion in newly announced federal grants and low-cost loans that are projected to reduce electricity rates by 10 percent by 2034 compared to business as usual for its rural electricity cooperative members, including several in western Colorado. That is expected to result in $430 million in consumer savings over a decade. The funding will be used to scale up Tri-State’s renewable energy portfolio and help pay for its transition away from coal-fired power generation.
The funding is coming from the Agriculture Department’s Empowering Rural America Program to lower electricity costs, which is made possible by the Inflation Reduction Act, which makes the largest investment in rural electrification since the Rural Electrification Act was signed into law in 1936. The department also announced that six electric cooperatives, including Yampa Valley Electric Association and Poudre Valley Rural Electric Association, will receive nearly $1 billion between them in grants and loans through the program.
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MOUNTAINFILM NOW AN ACADEMY AWARD QUALIFYING FESTIVAL
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Mountainfilm, the celebrated documentary film festival held annually in Telluride, announced that it has been officially designated as an Academy Award Qualifying Festival in the Documentary Short Film category. This prestigious recognition by the Academy of Motion Picture Arts and Sciences places Mountainfilm among a distinguished group of festivals worldwide, allowing films that win Best Short Documentary at Mountainfilm to become eligible for consideration for an Academy Award. Mountainfilm has long been a platform for visionary filmmakers who explore crucial topics ranging from environmental conservation and social justice to outdoor adventure and cultural diversity. As North America’s longest continuously running documentary film festival, Mountainfilm celebrates its 47th annual festival over Memorial Day weekend. The 2025 festival will take place from May 22-26, 2025. Film submissions for the 47th annual Mountainfilm festival are now open.
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DURANGO'S DERAILED POUR HOUSE EARNS TRAVELER'S CHOICE AWARD
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Derailed Pour House in Durango recently received a “Best of the Best” Traveler’s Choice Award on Tripadvisor, ranking among the Top 25 best casual dining locations in the U.S. this year. Derailed carried a perfect rating as the top dining location in Durango out of 121 website-listed restaurants in town. Derailed Pour House placed 12th in the U.S. for casual dining, boasting 2,600 reviews. Walking into Derailed can feel like stepping into a fairy tale with glowing trees, casting a gentle glow onto the tables below and detached doors creating cozy booths. The restaurant’s most prominent attributes mentioned in reviews include live music, a wood-burning fireplace and signature cocktails.
Derailed was the lone restaurant in Durango, a popular dining area, flush with highly recognized and positively rated restaurants to be elevated to ‘Best of the Best.’ Though other restaurants in town did take home Traveler’s Choice awards, including Carver Brewing Co., Steamworks Brewing Co. and Diamond Belle Saloon.
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CMC BOARD OF TRUSTEES TO CREATE TWO MORE SEATS
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The Colorado Mountain College Board of Trustees will grow by two members in the new year. The current board unanimously agreed to make the change at its Oct. 21-22 meeting. The board is made up of one elected resident from each of the following counties: Eagle, Lake, Pitkin, Routt, Summit, east Garfield and west Garfield. Salida has been represented by a non-voting trustee liaison since 2020, for a total of eight trustees. The two new at-large trustees, who will be appointed to serve until November 2025, will be able to work from any county served by the college. After their appointed term, they will be required under Colorado law to run for office. Trustees serve four-year terms. The board will open the application process for eligible candidates from Nov. 8 until Dec. 6 and will elect both positions on Dec. 11. The new trustees will be installed on Jan. 14, bringing the size of the board to 10 trustees.
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BRECK'S E-BIKE PROGRAM HAS REDUCED NEARLY 23,000 POUNDS OF CARBON DIOXIDE EMISSIONS SO FAR
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Breckenridge opted to invest in an electric bike program the past couple years in an effort to meet its mission of encouraging more boots and bikes and fewer cars in town. Town staff members say the investment is paying off and they want to up the ante. It is estimated the program has reduced almost 23,000 pounds of carbon dioxide emissions and this year alone helped replace what staff believes to be over 26,600 vehicle miles traveled in the community. Town council members voiced approval for expanding the program and adding around $90,000 to its budget. The program uses a “hub to hub” model where people can grab a bike from one hub destination and take it to one of 26 hubs around town. The program saw a near 52 percent increase in usage year over year. They asked the budget be increased from just under $360,000 to around $450,000. The budget increase will take the number of bikes in the program from 125 to 170 and the number of bike hubs from 26 to 30.
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DAYLIGHT SAVING TIME ENDS NOV. 3
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You will get a glorious extra hour of sleep but it will be dark as a pocket by late afternoon for the next few months in the U.S. Daylight saving time ends at 2 a.m. local time next Sunday, Nov. 3, which means you should set your clock back an hour before you go to bed. Standard time will last until March 9 when we will again “spring forward” with the return of daylight saving time. Two states — Arizona and Hawaii — don’t change and stay on standard time. Here’s what to know about the twice-yearly ritual:
- How the body reacts to light: The brain has a master clock that is set by exposure to sunlight and darkness. This circadian rhythm is a roughly 24-hour cycle that determines when we become sleepy and when we’re more alert. The patterns change with age, one reason that early-to-rise youngsters evolve into hard-to-wake teens.
- Morning light resets the rhythm: By evening, levels of a hormone called melatonin begin to surge, triggering drowsiness. Too much light in the evening — that extra hour from daylight saving time — delays that surge and the cycle gets out of sync. And that circadian clock affects more than sleep, also influencing things like heart rate, blood pressure, stress hormones and metabolism.
- How time changes affect sleep: Even an hour change on the clock can throw off sleep schedules — because even though the clocks change, work and school start times stay the same. That’s a problem because so many people are already sleep deprived. About 1 in 3 U.S. adults sleep less than the recommended seven-plus hours nightly, and more than half of U.S. teens don’t get the recommended eight-plus hours on weeknights. Sleep deprivation is linked to heart disease, cognitive decline, obesity and numerous other problems.
- How to prepare for the time change: Some people try to prepare for a time change jolt by changing their bedtimes little by little in the days before the change. There are ways to ease the adjustment, including getting more sunshine to help reset your circadian rhythm for healthful sleep.
- Will the U.S. ever get rid of the time change: Lawmakers occasionally propose getting rid of the time change altogether. The most prominent recent attempt, a now-stalled bipartisan bill named the Sunshine Protection Act, proposes making daylight saving time permanent. Health experts say the lawmakers have it backward — standard time should be made permanent.
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MOST HAUNTED PLACES FOR HALLOWEEN STAYS
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As Halloween approaches, thrill-seekers are trading in relaxation for spine-chilling adventures and booking trips to some of the world’s most haunted destinations. New data from Hotels.com reveals a significant rise in interest in spooky getaways this October, with haunted towns and eerie hotels seeing a surge in bookings. In the spirit of the season, Hotels.com compiled a list of the top U.S. destinations with the biggest hotel search increases leading up to Halloween. Topping the list this year is Salem, Massachusetts, where searches have surged by 100 percent.
- Salem, MA (100 percent): Known for its infamous 1,692 witch trials, Salem offers ghost hunts, haunted houses and festivals to embrace its haunted history.
- Eureka Springs, AR (35 percent): At the Crescent Hotel, often called “America’s Most Haunted Hotel,” spirits of former patients and workers roam the halls.
- Key West, FL (25 percent): Home of Robert the Doll, a cursed doll that wreaked havoc on its owners. Brave visitors can visit the now locked-up doll in the East Martello Museum.
- New Orleans, LA (25 percent): The paranormal hotspot is famous for its above-ground cemeteries, haunted mansions and tales of Marie Laveau, the voodoo queen.
- San Antonio, TX (25 percent): Home to the legendary Alamo, where the spirits of soldiers from the 1836 battle are often reported.
- Jerome, AZ (20 percent): A former mining town, dubbed “the wickedest town in the West,” is one of America’s largest ghost towns.
- St. Augustine, FL (20 percent): The oldest city in America, St. Augustine has a rich history of pirate raids, battles and epidemics that make it a hotbed for paranormal activity.
- Savannah, GA (20 percent): Known for its eerie tales of Civil War battles, deadly epidemics, and ghost sightings at Colonial Park Cemetery.
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MARKET UPDATE - 10/28/2024 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 10/24/2024)
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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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