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Colorado - Mon. 11/04/24 |
A Free Business Publication from Alpine Bank
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WINTER STORM LOCKS UP MOUNTAIN HIGHWAYS WITH MULTIPLE CLOSURES
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The Interstate 70 mountain corridor is experiencing multiple closures amid a snowstorm that is expected to last into Monday morning, Nov. 4. The Colorado Dept. of Transportation is warning of road closures and delays due to safety concerns. A winter storm warning is in effect for Summit County and much of the mountain region through 11 a.m. Monday, with several inches of snow expected. Around 8 p.m., I-70 westbound was closed between Exit 205 to Silverthorne and the Eisenhower-Johnson Memorial Tunnels. I-70 westbound was also closed between Exit 201 to Frisco and Exit 190 at Copper Mountain. U.S. Hwy. 6 at Loveland Pass was closed in both directions, with hazmat vehicles staging at the tunnels, where they will be run at the top of the hour. Colorado Hwy. 91 to Leadville was closed in both directions. For up-to-date information, check COTrip.org.
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DENVER WEATHER COULD BE "HAZARDOUS"
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Denver and the surrounding metro area could see up to 6 inches of snow overnight and Monday morning, according to the National Weather Service. A winter weather advisory will be in effect for the Foothills, Front Range and Palmer Divide from 8 p.m. Sunday until 11 a.m. Monday. Drivers should allow extra time for their commute and make sure they’re prepared to drive in the winter weather as travel conditions could turn from poor to hazardous.
Downtown Denver could see between 1/2 inch and 4 inches of snow as rain turns to snow overnight. Arvada, Aurora, Centennial, and Lakewood are also forecast to see up to 4 inches of snow accumulation, and Parker and Highlands Ranch could see up to 6 inches of snow. Rain expected to start around 5 p.m. in Denver will turn to snow around 2 a.m. Monday as temperatures fall below freezing. Winter weather will return to the Denver area Tuesday night and could continue off-and-on through the weekend. The second storm is expected to worsen Wednesday night and peak in intensity on Thursday and Friday.
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DENVER RAIL CO. LANDS $120 MILLION IN FUNDING
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Denver-based OmniTrax Inc., one of the largest privately held U.S. rail companies, won $120.7 million in federal grant money to help fund projects across the U.S., including one in Colorado. Nearly half the money, $50.5 million, will go toward its work on the Great Western Railway in northern Colorado. The company is working on an 80-mile segment of the line, which offers freight service among northern Colorado communities such as Loveland, Longmont and Greeley and includes interchanges with some of the largest freight rail systems in North America. The Colorado project is one of four infrastructure grants awarded to OmniTrax through the federal Consolidated Rail Infrastructure and Safety Improvements (CRISI) program totaling $120.7 million. The other grants will go toward upgrading track and rail yard projects in Alabama, California, Georgia, Illinois, Maryland, West Virginia, Ohio and Washington.
Several other organizations also received CRISI funding for rail projects in Colorado. The state offered close to $28 million in matching dollars for a project that aims to improve safety on a BNSF line north of Denver, which state officials say will lay the groundwork for passenger rail service. The other grants went to Colorado State University Pueblo to test new fuel technologies at the FRA Transportation Technology Center, in Pueblo, and to San Luis Central Railway to increase safety and reduce maintenance costs for short lines in rural Colorado. In all, Colorado rail projects received a total of $66.4 million in federal grants.
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WINNER OF 2024 GOVERNOR'S CUP FOR BEST WINE
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The OBC Wine Project in Fort Collins took the 2024 Governor’s Cup for best wine with its 2023 Colorado Red. It’s a division of Odell Brewing, and the wine bar is right next to the brewery. Hundreds of wine lovers got to sniff, swirl and sip Colorado’s best wines from 14 double gold winners of the 2024 Governor’s Cup Collection. More than 300 entries were judged by sommeliers, winemakers and wine writers. There are 160 wineries in Colorado. The 14 double gold winners included: Alfred Eames Cellars, Carboy Winery, Fox Fire Farms, OBC Wine Project, Sauvage Spectrum, Snowy Peaks Winery, Restoration Vineyards, Whitewater Hill Vineyards, Storm Cellar, Peachfork, St. Kathryn Cellars. Carboy is the biggest Colorado Winery, with locations in Denver, Breckenridge, the flagship winery in Littleton, Palisade (where all the grapes are grown at its Mt. Garfield Estate). It was the second year Fox Fire Farms, near Durango, nabbed a double gold with its Fox Fire Red.
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COLORADO'S WOLVES EXPAND TERRITORY SOUTH OF I-70 FOR THE FIRST TIME
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Some of Colorado’s collared wolves have moved south of Interstate 70 for the first time since their reintroduction to the state in December 2023. While the eight collared wolves roaming the state largely stayed in the north-central mountains and plains during October, at least some of the wolves have expanded their territory south of I-70, according to a new tracking map released Sunday. The wolves’ new territory includes most of Lake County north of Colorado 82. The state’s known wolf population now stands at 14: seven survivors among the 10 adults reintroduced by the state last year, plus five pups from the Copper Creek pack and two adults from a pack established earlier by wolves that migrated from Wyoming.
One of the reintroduced wolves and four of her pups remain in captivity after CPW biologists removed them from the wild in late August and early September. A fifth non-collared pup from the pack remains in the wild after CPW ceased attempts to capture it. CPW said anyone who believes they have seen a wolf should fill out the wolf sighting form online at cpw.state.co.us/wolf-sightings.
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NVIDIA TO REPLACE INTEL IN DJIA; SHERWIN-WILLIAMS JOINS
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Nvidia will replace Intel in the Dow Jones Industrial Average next week, a swap that reflects their reversal of fortunes within the tech industry. Sherwin-Williams will replace Dow Inc. as well. S&P Dow Jones Indices, which manages the 30-stock benchmark, said the changes were made to ensure a more representative exposure to the semiconductors industry and the materials sector. They are effective prior to the open of trading on Nov. 8. For Intel and Dow Inc., the moves are largely symbolic. There should be little practical impact because few funds track the Dow index compared with the larger S&P 500.
For Intel, being replaced by Nvidia would have been unthinkable just three years ago. Now, it underscores one of numerous strategic missteps that have demoted Intel from tech titan to a takeover target: The chip manufacturer largely missed the boat on artificial intelligence, which is developing into a driving force of the U.S. economy. With a share price of $23.20, Intel was by far the least influential stock in the benchmark, while Dow Inc. was No. 28. At $135.40, Nvidia would rank 22nd—it executed a 10-for-1 stock split in June that analysts said made its inclusion in the Dow more likely. Sherwin-Williams closed Friday at $357.97, which would give it the sixth-highest share price in the index.
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EARLY-SEASON SNOWPACK CURRENTLY ABOVE NORMAL
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Amid warmer-than-average fall temperatures, Colorado’s snowpack levels are pacing above normal. As of Friday, the statewide snowpack was at 143 percent of the 30-year median, which is considered the historical normal. Recent storms have delivered cooler weather to mountain and Western Slope areas that, in some places, were around 15 degrees above normal during the first half of October. The bulk of the snowfall has been concentrated in the San Juans region, which netted between 1 to 2 feet of fresh powder during the two most recent storms that hit in late October. Snowpack levels for river basins in that area sit well above 200 percent of normal, helping boost the state’s overall numbers. Yet in the eastern part of the state, persistent dry weather has stymied snowpack.
In the South Platte River Basin, along the Front Range from Fort Collins down to Castle Rock, snowpack stood at 43 percent of normal as of Friday. In the Arkansas River Basin, levels stood at 84 percent. Forecasts from OpenSnow.com show a fairly active start to November, with the next storm arriving sometime on Sunday afternoon. Around 8 inches of snowfall could be possible near and east of the Continental Divide, though areas as west as Berthoud Pass could also see similar numbers.
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MESA COUNTY PERMITS, LISTINGS ON THE RISE
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Among residential real estate trends in Mesa County this year are a sharp rise in building permits and active listings. The latest Bray Real Estate Report compiled data in Mesa County in and through the end of September, with October data not yet compiled. Through the end of September, building permits increased 41 percent year-to-date over 2023’s figures, from 361 permits to 509. In terms of building permits, the Mesa County residential real estate landscape is similar to 2019 and 2020.
Active listings also hit a new high for any month in the 2020s in September, with 645 active listings on the market. The next-closest month of this decade so far for listings was September 2022 (607). The 645 figure represents a 23 percent year-to-date increase over 2023 (525). The year-to-date median property price through the end of September increased 8 percent (from $396,250 to $429,900). The volume of sales year-to-date increased 3 percent (from $912.2 million to $939.8 million), even though total sales year-to-date decreased 2.4 percent (from 2,122 to 2,071).
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TELLURIDE LAUNCHES LARGE-SCALE CURBSIDE COMPOSTING
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The Town of Telluride is partnering with Bruin Waste Management to bring curbside compost to town. The initiative focuses on local businesses, HOAs and schools, offering a weekly curbside pickup of organic waste on Fridays for Telluride residents. Members of the program will lease a compost bin to collect organic waste and Bruin will process the food waste at their partner facility, Delta Compost. Food scraps, including fruits, vegetables, meat, dairy, coffee grounds, and other biodegradable materials are all accepted. Although the program is targeted at HOAs, locals can also join together with three or four households in a neighborhood and form their own composting group for the Bruin program. To sign up for Bruin’s new compost program, go to bit.ly/bruincompost. To register for Town of Telluride’s compost program rebates, visit bit.ly/totcompost.
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VIP PLUMBING DONATES $30,000 WORTH OF PLUMBING & LABOR TO DURANGO VFW
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VIP Plumbing made a considerable donation to the Veterans of Foreign Wars Post 4031 of $30,000 worth of urgently needed sewer lines, about 100 feet of pipe, and labor this week. Second generation master plumber James Cook of VIP Plumbing said he is looking for ways to give back to the community and decided partnering with area veterans is a good way to start. He said he was already performing some smaller projects at the VFW and after he got to talking with members, he offered the sewer line replacement free of charge.
Cook said he has a “grand scheme” to work on projects with the VFW every year. He already has plans to install a new HVAC system at the VFW next year in partnership with Home Depot, which will provide the machinery, while VIP Plumbing provides the labor. On Saturday, the VFW is participating in the annual Durango Train Pull, a Special Olympics fundraiser, at 11 a.m. at the Durango & Silverton Narrow Gauge Railroad rail yard. The VFW also hosts a Veterans Benefit Breakfast every first and third Sunday of the month, with the first breakfast of November scheduled for Sunday.
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CLOSURES POSSIBLE ON FLOYD HILL DUE TO SUN GLARE
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Motorists traveling eastbound on Interstate 70 near Floyd Hill may face periodic morning closures over the coming months due to increased risk from sun glare. Beginning in early November through February, the sun’s angle can create a blinding glare for drivers due to inclining hills along the highway in the early morning hours. To minimize risk, safety closures are possible for drivers heading eastbound up Floyd Hill east of Idaho Springs around mile points 244 to 248. Intense sun glare can occur as far east as Genesee. Closures in the area typically average around 45 minutes and can occur between 6:30 a.m. and 8:30 a.m. In the event of a closure, eastbound traffic will be rerouted at Exit 244 for U.S. Hwy. 6, which is at the bottom of Floyd Hill. Motorists can either stay the course on U.S. 6 through Clear Creek Canyon or take the eastbound I-70 frontage road (U.S. 40) to get back onto I-70 at Beaver Brook. Safety tips for driving in the sun include:
- Wiping the inside and outside of windshields to make sure it is clean
- Having ample windshield wiper fluid
- Wearing sunglasses to provide shade
- Adjusting speed
- Slowing down gradually instead of slamming on the brakes
Closure decisions from November through February are made on a case-by-case basis each morning with collaboration between Colorado State Patrol and CDOT personnel who are stationed near Floyd Hill. Drivers can check the latest travel alerts by going to COTrip.org and sign up for text and email alerts for the I-70 mountain corridor.
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THE ROADKILL REPORT: ACROSS THE WESTERN SLOPE
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Each year, vehicle-animal collisions are one of the leading reasons for crashes in Colorado, a rate that increases the further west you go. Since 2010, animal-related crashes have accounted for around 3 percent of all incidents in the state, as reported by the Colorado Dept. of Transportation. In the agency’s northwest region, they account for around 10 percent. A 2019 study of these incidents by the state’s transit agency and Colorado Parks and Wildlife found that 60 percent of wildlife-vehicle accidents in Colorado happen on the Western Slope. CDOT releases quarterly roadkill data for the state. These counts rely on reports from its road maintenance crews and roadkill app as well as an app from Parks and Wildlife.
In 2023, carcass reports in the west and northeast came predominantly from maintenance crews (between 70 to 80 percent). In the Front Range and southeast, nearly half were from these crews, with the other half coming mostly from the Parks and Wildlife app. What did roadkill reports look like this summer on the Western Slope?
- In its latest report, detailing July to September, the department’s two western regions — Regions 3, which encompasses the northwest, and 5, the southwest, — saw the largest volume of roadkill.
- The southwest region had 536 reports, or 31 percent of the total, during these three months, while the northwest had 430, or around 25 percent of the total.
- This aligns with data from the past two years. In 2023, Region 5 had 2,445 total reports, around 150 more than Region 3. In 2022, the southwest had 2,470, around 300 more than the northwest.
- In every region across the state, mule deer account for the largest percentage of animals hit and killed. Parks and Wildlife estimates that 2 percent of the state’s mule deer are killed annually in vehicle collisions — making the road-kill rate greater than the annual hunter harvest.
- From July to September, mule deer accounted for 37 percent of the roadkill in the northwest.
- This was followed by black bears, which made up 17 percent of the reports; unknown carcasses, which were 15 percent of reports; and raccoons (7 percent).
- Of the 74 black bear roadkill reports in Region 3, over half (41) occurred on Interstate 70. Seventeen took place on Colorado Hwy. 82 — the 85-mile-long stretch of road that starts in Glenwood Springs and runs through Roaring Fork Valley and over Independence Pass before ending south of Leadville.
- In the previous quarter, extending between April and June, mule deer accounted for even more, 66 percent, of the carcasses reported in the region. There were fewer bears reported, however, making up only 3 percent of the total.
- In the southwest, around 68 percent of the roadkill reports were deer for the last two quarters.
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ASPEN BY THE NUMBERS, THEN AND NOW
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For the Time Capsule series, the Wall Street Journal spotlights a cherished restaurant, hotel or landmark that’s changed remarkably little over the years. This week, the WSJ visits the Hotel Jerome in Aspen, Colorado. In 1889, when the Hotel Jerome first welcomed visitors, Aspen was a buzzing mining boomtown. More than 200 guests, some from as far away as Paris, attended an opening gala the night before Thanksgiving, held in the town’s only ballroom. With a red brick and sandstone facade and elegant Victorian decor, it housed 92 rooms, 15 bathrooms with hot and cold water, a billiard hall and a barbershop. It also boasted electric lighting, one of the first buildings west of the Mississippi to do so.
Aspen By the Numbers, Then and Now:
Population of the town of Aspen
- 1890-1893: 10,000 to 16,000
- 2023: 6,612
A night at the Hotel Jerome
- 1889: $3 to $4
- 2024: from $783
A Martini at the hotel bar
One ounce of silver
- 1890: $0.80 to $1.20 (roughly $35 in today’s dollars)
- 2024: About $34
Tickets to a show at the Wheeler Opera House
Ski season pass
- 1946: $140
- 2024/25: around $3,234
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MARKET UPDATE - 11/01/2024 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 10/31/2024)
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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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