|
Colorado - Thu. 05/08/25 |
A Free Business Publication from Alpine Bank
|
|
View in Browser
|
|
|
| |
DISNEY TO OPEN THEME PARK IN THE MIDDLE EAST
|
| |
|
|
| |
Walt Disney has announced plans to open its first theme park in the Middle East. The resort, which will be in the United Arab Emirates (UAE) on Abu Dhabi's Yas Island, is a collaboration between Walt Disney and local leisure and entertainment company Miral. Disney already has six theme parks spanning North America, Europe and Asia. Miral is responsible for the development of Yas Island as a tourist destination and already operates SeaWorld and Warner Bros World where it is developing a Harry Potter-themed park.
In a statement announcing the new facility, Disney said the UAE was located within a four-hour flight of one-third of the world's population, making it a "significant gateway for tourism.” It added that 120 million passengers travel through Abu Dhabi and Dubai every year, making the Emirates the biggest global airline hub in the world. The 10-sq-mile (25-sq-km) Yas Island is 20 minutes from downtown Abu Dhabi and 50 minutes from Dubai. The company's first theme park, Disneyland, opened in Anaheim, California in 1955. It was followed in 1971 by Walt Disney World in Orlando, Florida. International expansion began in 1983 with a park in Tokyo; Disneyland Paris opened in 1992, then came Hong Kong in 2005 and, most recently, Shanghai in 2016.
|
| |
|
|
|
| |
FED HOLDS RATES STEADY
|
| |
|
|
| |
|
The Federal Reserve on Wednesday held its key interest rate unchanged as it waits for the Trump administration’s trade policy to take shape. In a move that carried little suspense given the wave of uncertainty sweeping the political and economic landscape, the Federal Open Market Committee held its benchmark overnight borrowing rate in a range between 4.25 and 4.5 percent, where it has been since December. Stocks briefly ceded some gains after the rate announcement but mostly recovered, with the Dow Jones Industrial Average up nearly 300 points despite some worries over the Fed’s characterization of the economic risks. Policymakers largely agree that the central bank is in a good position, with the economy generally holding up for now, to be patient as it calibrates monetary policy. Powell emphasized this during the press conference. “The economy itself is still in solid shape,” he said. The committee’s decision to hold the benchmark rate steady was unanimous.
|
| |
|
|
|
| |
THIS COLORADO WHISKEY WAS JUST NAMED AMERICA'S BEST SINGLE MALT
|
| |
|
|
| |
A Colorado whiskey recently turned heads at a global spirits competition where it was named the best American-made single malt. Loveland-based Root Shoot Spirits earned the accolade for its flagship product, Root Shoot Whiskey, at the London Spirits Competition, which announced the winners of its eighth edition in late April. Notably, the four-year aged American single malt whiskey is made from barley grown exclusively on Colorado’s Front Range. In fact, the makers grow the grains themselves. The award comes just months after American single malt whiskey became an official spirits designation in the U.S. Local distillers believe the designation will allow them to compete with single malt powerhouses like Scotland and Japan, which make some of the most coveted whiskey in the world.
Colorado, they say, is the best place in the country to find single malt whiskeys right now – and they may be right. Root Shoot Spirits is a sister company to Root Shoot Malting, which is owned by 5th generation farmer Todd Olander. The company grows about 700 acres of barley that it then kilns and roasts for brewers and distillers throughout the state. This is the second year in a row that a Colorado whiskey has been recognized as the best American-made single malt at the London competition. In 2024, the title went to Colorado Honey, made by Spirit Hound Distillers in Lyons.
|
| |
|
|
|
| |
DENVER REJECTS $25 MILLION ASPHALT CONTRACT WITH SUNCOR BECAUSE OF REFINERY'S POLLUTION
|
| |
|
|
| |
The Denver City Council this week rejected a $25 million contract to buy asphalt from Suncor Energy because of the pollution generated by the company’s Commerce City refinery. The council voted unanimously to find another vendor for asphalt. The next company in line is Husky Marketing Supply Co., a subsidiary of Calgary, Canada-based Cenovus Energy. Suncor’s headquarters are also in Calgary. Suncor had not contracted with the city for asphalt in about 10 years, but was the lowest bidder for the latest contract, which would extend through February 2030. It will cost about $60,000 more per year to go with the next lowest bidder, said John Essex, the interim director of the Denver Dept. of Transportation and Infrastructure’s street maintenance program. That amounts to about $300,000 for the life of the contract.
Suncor, which operates the only refinery in Colorado, refines 98,000 barrels of crude oil per day, and provides about 40 percent of the gasoline and diesel used to fuel cars and trucks in the state. A refinery has been in operation on the banks of Sand Creek in Commerce City since 1931. Suncor is one of the largest single-source polluters in Colorado, and for decades the refinery has released toxic chemicals into the air and water, sometimes exceeding the amounts allowed under its federal permits. Those substances include hydrogen cyanide, hydrogen sulfide and benzene, all chemicals that can make people sick with asthma and other respiratory diseases as well as cancer.
|
| |
|
|
|
| |
SOTHEBY'S HALTS BUDDHA JEWELS AUCTION AFTER INDIA THREAT
|
| |
|
|
| |
The auction house Sotheby's has postponed its sale in Hong Kong of hundreds of sacred jewels linked to the Buddha's remains, after a threat of legal action by the Indian government. The sale of the collection - described as one of the most astonishing archaeological finds of the modern era - had drawn criticism from Buddhist academics and monastic leaders. India had said it offended the global Buddhist community. Sotheby's said the suspension would allow for discussions between the parties.
A British official named William Claxton Peppé unearthed the relics in northern India nearly 130 years ago, alongside bone fragments identified as belonging to the Buddha himself. The findings included nearly 1,800 gems, including rubies, topaz, sapphires and patterned gold sheets, stored inside a brick chamber. This site is now in the state of Uttar Pradesh. The auction of the collection, known as the Piprahwa Gems of the Historical Buddha Mauryan Empire, Ashokan Era, circa 240-200 BCE, was due to take place on 7 May. In a letter to the auction house two days earlier, the Indian government said that the relics constituted a part of the "inalienable religious and cultural heritage of India and the global Buddhist community. Their sale violates Indian and international laws, as well as United Nations conventions." Sotheby's said updates on the discussions would be shared "as appropriate.”
|
| |
|
|
|
| |
BETS ARE ON FOR THE NEXT POPE, BUT NOT IN COLORADO
|
| |
|
|
| |
The bets are on, as cardinals from around the world arrived in Rome Wednesday for the centuries-old papal conclave process to select the next leader of the world’s 1.406 billion Roman Catholics. With 133 cardinals eligible to vote being sequestered inside the Vatican to pray, reflect and cast their votes for the first time Wednesday evening, gamblers across the globe collectively have placed millions in guessing who the new pope will be on big-time crypto current futures market platforms like Polymarket and Kalshi. Polymarket had fielded nearly $21 million in bets as of mid-morning Wednesday, while Kalshi was nearing a volume of $8 million.
Placing money on who wins the title of the new Holy Father is not legal in Colorado, however, according to the state’s gaming division. The activity “does not meet the definition of a sporting event,” and “would be considered a prohibited wager,” according to a spokesperson for the Colorado Division of Gaming. By law, Colorado's gaming regulations restrict legal sports betting to athletic competitions, certain awards and entertainment-related situations. Nationwide, legal American sportsbooks do not offer the opportunity, according to Sportsbook Review. Pope Gregory XIV in 1591 banned betting on a papal enclave and threatened excommunication, as the practice had become out of control, according to his document called Cogit Nos. A 1918 revision of the church’s canon law did not include the provision, and there’s no prohibition in Catholic teaching today.
|
| |
|
|
|
| |
NEW ASPEN HOTEL BRINGS EXCLUSIVE ARTS, BMW & LANDSCAPE LUXURY
|
| |
|
|
| |
While Aspen has no shortage of hotels, White Elephant is taking the mountain aesthetic to a whole new level by blending it with the brand’s iconic modern design that infuses landscape into luxury. Slated to open in late fall at 110 West Main St., this will be the third White Elephant hotel in the country and the first one established out West; the other two are located in Nantucket and Palm Beach. White Elephant Aspen is creating a new signature style for those looking to experience both Aspen’s outdoor playground and unique affluence.
White Elephant Aspen will welcome guests with personalized service and intentional design that includes an environment-inspired art collection with more than 125 original works. The hotel has also managed to lock in a special, first-time collaboration with Anderson Ranch Arts Center. It will be the only hotel in town to showcase Anderson Ranch artists, with over 50 pieces on display. White Elephant Aspen will also be partnering with BMW to offer five complimentary vehicles to guests, available on a first-come, first-serve basis.
|
| |
|
|
|
| |
GRAND RIVER HEALTH CLINIC WEST SELECTED AS ONE OF TOP FIVE RURAL HEALTH CLINICS IN COLORADO
|
| |
|
|
| |
The Grand River Health Clinic West was recently named in the Top Five of Rural Health Clinics in Colorado as part of the inaugural Top Ten Rural Health Facilities awards that were presented at the 2025 Colorado Rural Health Conference in April. This new award honors rural clinics that demonstrate exceptional participation and performance in statewide healthcare quality initiatives and community health improvement programs. The ranking is based on participation in Colorado Rural Health Quality Initiatives:
- Healthy clinic assessment program
- Rural connectivity program and community analytics platform utilization
- Colorectal cancer screening initiative
- Colorado rural health chronic care management program
The award was presented by the Colorado Rural Health Center at its annual conference in Denver in April. It launched the Top Ten Rural Health Facilities program in 2025 to celebrate and recognize excellence in rural primary care across the state. For more information about Grand River Health Clinic West and the services offered, visit grandriverhealth.org.
|
| |
|
|
|
| |
EAGLE COUNTY'S AIRPORT IS FOCUSED ON NON-WINTER SERVICE FOLLOWING A RECORD-SETTING 2024
|
| |
|
|
| |
It’s been a good year so far at the Eagle County Regional Airport. Except for Frontier Airlines leaving, which came as a surprise to airport officials. During a Monday presentation to the Eagle County Board of Commissioners, Eagle County Aviation Director David Reid said Frontier, which in October of 2024 announced its entry to the Eagle County Market, pulled out of the market without telling airport officials, or even airline marketing people.
By the numbers:
- 24.8 percent: Increase in Eagle County Regional Airport enplanements for 2024 over 2023
- 32 percent: Increase in enplanements over the previous three-year average
- 11.4 percent: Increase in rental car revenues for the first quarter of 2025 over the same period in 2024
- 11.4 percent: Increase in restaurant sales for the first quarter of 2025 over the same period in 2024
Reid said this year’s focus will be on building non-winter service, noting that United Airlines in June will restart service into Eagle County from Houston and Chicago. Delta Airlines, in early April, announced it will begin service to Eagle from JFK airport in New York City in December. Delta may be on the brink of announcing service from yet another market in the next 30 to 60 days. The previous winter made Eagle County the third-busiest airport in the state, behind only Denver and Colorado Springs. That business at the airport was also reflected on the ground, with car rental and restaurant revenue both up by more than 11 percent in the first quarter of this year compared to the same period in 2024.
|
| |
|
|
|
| |
STEAMBOAT MARATHON SEARCHES FOR VOLUNTEERS
|
| |
|
|
| |
|
Steamboat Marathon is in search of volunteers for support in the days leading up to the race and on race day. The marathon takes off from North Routt County on Sunday, June 1 — but help is needed as early as Tuesday, May 27. Areas of need include pre-race preparations, packet pickup, vendor setup and aid station support. Breakdown crew volunteers also are needed. Those interested in volunteering can go to SteamboatChamber.com/events/annual-events/steamboat-marathon/get-involved/#volunteer.
|
| |
|
|
|
| |
UNIQUE OFFER ON REMOTE SCOTTISH ISLAND DRAWS 'DREAMERS & SCHEMERS'
|
| |
|
|
| |
If you are the right candidate, Richard Irvine will give you his business and train you to run it. He will hand over his keys, customers and secrets to smoking fish — all free. The catch: You have to commit to living on a remote Scottish island called Colonsay. Population 125. There is already global competition for the position. Mr. Irvine, 65, established the Colonsay Smokery in 2022 and has been building the business with the intention of giving it away. Interest in the giveaway has been high, he said, and he has more candidates than he expected. He hopes to choose a recipient by midsummer.
Mr. Irvine has received dozens of inquiries from candidates and news media requests from Italy, Spain and the U.S. The island is off the west coast of Scotland in the Atlantic Ocean, about 20 miles from the mainland, and is reachable by ferry. It is about two miles wide and 10 miles long, with sandy beaches, scenic paths, a golf course, a bookshop, several dining and watering holes and a local publication, The Colonsay Times, which comes out seasonally, once in the winter, spring, summer and fall.
There are specific characteristics that Irvine thinks the ideal candidate should have. The person would most likely be half of a young professional couple or family, with one partner working remotely from Colonsay and the other running the smokery. “It’s a big leap to take,” he admitted. Still, he said, there are rewards. “I like waking up and seeing nature,” he said, “but I also like going to the pub and standing by the man who does the bins” — as in collecting the garbage — “on equal footing.”
|
| |
|
|
|
| |
DOWNTOWN EXCELLENCE AWARDS HONOR COLORADO CITIES, PEOPLE
|
| |
|
|
| |
Downtown Colorado Inc. honored 12 communities and two people with excellence awards for outstanding projects demonstrating creativity in the face of challenges. Created in 2003, the awards program recognizes how leaders and communities create vibrant downtowns and commercial districts across Colorado.
The winners of the 2025 Downtown Excellence Awards are:
- Best Partnership Large Community: Downtown Englewood for CitySpark
- Best Partnership Small Community: City of Montrose for the Historic Potato Growers Building
- Best Place Large Community: Arvada Urban Renewal Authority for Garrison Garden Paseo
- Best Place Small Community: Town of Basalt for its Midland Streetscape Project
- Best Plan Large Community: City of Wheat Ridge for the Wheat Ridge Prosperity Plan
- Best Plan Small Community: Fraser Downtown Development Authority for its Plan of Development
- Best Pop-up Large Community: Downtown Colorado Springs for its Revel Urban Arts Party
- Best Pop-up Small Community: Downtown Englewood for Flower Pop
- Best Project Large Community: Downtown Greeley for WeldWalls Mural Festival
- Best Project Small Community: City of Louisville for its Downtown Vision Plan
- Colorado Choice Award Large Community: City and County of Denver for its Plan of Development for Denver’s Downtown Development Authority
- Colorado Choice Award Small Community: Town of Windsor for the Windsor Downtown Master Plan
- Colorful Colorado Choice Award: Town of San Luis for the San Luis Civic Plaza
- DCI presented Vicki Mattox the Downtowner of the Year Award, which recognizes people who have demonstrated commitment to their local downtown and community by encouraging ongoing collaboration and teamwork; and Bianca Fisher, executive director of the Greeley Downtown Development Authority and Maureen Phair, former executive director of the Arvada Urban Renewal Authority.
|
| |
|
|
|
| |
SIX REMOTE PLACES FOR A VOLUNTEER VACATION
|
| |
|
|
| |
Instead of soaking in the sun poolside or lounging around a luxurious hotel, more travelers are spending their vacations creating trails in the Faroe Islands, digging into the earth of Patagonia or maintaining rugged paths in the mountains of Eastern Europe. They are trading relaxation for a sense of purpose. Volunteer tourism generated $848 million in 2023 and is projected to grow 6 percent per year from 2024 to 2030.
Here are places you can get involved:
- The Caucasus: The 1,750-kilometer Transcaucasian Trail, once an important connection for residents of Georgia, Azerbaijan and Armenia, today attracts hikers to its canyons, snow-capped peaks and dense forests. Since 2016, international volunteers have been working to rebuild and maintain the trail, which runs through the rugged landscapes of the Caucasus. Participants stay in tents at remote base camps, cook on camp stoves and spend up to 10 days repairing trails, clearing undergrowth and installing signage. Application deadlines vary by location: June 1 for Azerbaijan, June 15 for Armenia and July 1 for Georgia.
- Torres del Paine, Chile: At the southern tip of South America, where Chile and Argentina meet, Patagonia’s glaciers and vast natural reserves beckon. Near the trekking circuits of Torres del Paine National Park, Las Torres Patagonia allows international volunteers to help restore the park’s popular trails. The 10 Volunteers for 10 Days initiative gives participants an all-expenses-paid trip to Patagonia. Prospective volunteers apply by entering a contest on social media. The organization will begin its application contest for 2026 in February, with participants arriving in April. 3.
- Traena Municipality, Norway: About 40 miles off Norway’s Helgeland coast, roughly in the middle of the country, Traena is one of the country’s smallest municipalities, but one of the richest in history. The archipelago of about 500 islands is home to the oldest fishing village in Norway and the Traena Festival, a music event held annually where visitors enjoy concerts under the midnight sun or raves in a cave. Guests receive free accommodation in exchange for helping community environmental protection projects. This year, House by the Sea is organizing coastal cleanups from Sept. 3 to Sept. 7, inviting 25 volunteers to spend about 10 to 15 hours during their stay on litter cleanup, boathouse restoration and social activities.
- Faroe Islands: The Faroe Islands’ Closed for Maintenance, Open for Voluntourism program is one of the most famous volunteer opportunities. Starting in May, it shuts select tourist sites for three days and allows up to 100 foreign volunteers to join Faroese residents in improving hiking trails, restoring village paths and helping preserve beaches and wetlands. In return, volunteers receive free accommodation and meals. Volunteers are chosen through a mix of random selection and experience-based criteria.
- Yukon, Canada: In the heart of Canada’s wild north, the Rugged Apprentices program gives visitors the chance to experience the Yukon while also tending to the landscape. Its 2022 launch drew hundreds of applicants looking to volunteer in Dawson City, Carmacks and Watson Lake. Volunteers clear pathways and install signage, and also take part in guided hikes, helicopter tours and local concerts. Registration for this year’s trips, which are set for Sept. 8 through Sept. 12, will open in late May.
- East Coast, U.S.: The Appalachian Trail, a 2,190-mile route that stretches from Maine to Georgia, winds through regions that house more than 38 million people, but it is also a wildlife migration corridor. Hikers, walking among oak, maple and ash trees, might encounter deer, bald eagles, foxes and even black bears. The nonprofit Appalachian Trail Conservancy hosts a variety of volunteer opportunities for travelers looking to explore the East Coast of the U.S. and help restore one of its most remarkable landscapes. Volunteer opportunities, which can include repairing hurricane damage to leading outdoor activities, are multi-day experiences that include accommodations. Lodging can range from a rustic affair to campgrounds at the high end, and volunteers should not expect showers, bathrooms or running water.
|
| |
|
|
|
|
|
|
| |
|
MARKET UPDATE - 05/07/2025 Close
|
| |
|
(Courtesy of Alpine Bank Wealth Management*)
|
| |
|
Canadian dollar (per U.S. dollar)
|
| |
|
|
|
|
Mexican peso (per U.S. dollar)
|
| |
|
|
|
|
30-year fixed mortgage rate (Freddie Mac 05/01/2025)
|
| |
|
|
|
|
|
*Not FDIC insured. May lose value. Not guaranteed by the bank.
|
| |
|
| |
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.
|
| |
|
|
| |
| Make changes to your subscription or unsubscribe here. |
| © 2025 Alpine Bank. |
| |
|
|
