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Colorado - Fri. 05/09/25 |
A Free Business Publication from Alpine Bank
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ROBERT FRANCIS PREVOST, NOW LEO XIV, FIRST AMERICAN POPE
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Robert Francis Prevost was elected the 267th pope of the Roman Catholic Church on Thursday, becoming the first pope from the United States. He took the name Pope Leo XIV and used his first words from a Vatican balcony to speak of peace in the world and “a united church, always seeking peace and justice.” He will soon confront difficult decisions affecting the direction of the church and the world’s 1.4 billion Roman Catholics. His election was greeted with rejoicing in Vatican City but also in Chicago, where he was born, and in Peru, where he served for more than two decades.
The cardinals reached their decision after being in conclave for a little more than 24 hours, and after several rounds of voting. The group of 133 cardinals, the most ever to gather in a conclave, included many who were appointed by Francis and some who did not know one another. The election of the first American pope comes at a time when 20 percent of American adults identify as Catholic, a share that has been stable for the past decade or so.
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BILL GATES PLANS TO GIVE AWAY MORE THAN $200 BILLION OVER 20 YEARS
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Bill Gates plans to spend more than $200 billion over the next 20 years to fight poverty, malnutrition, polio and other global scourges, accelerating by decades a commitment to give away nearly all of his wealth. The 69-year-old Microsoft co-founder and philanthropist said he would give 99 percent of his fortune to his charitable foundation, which he chairs, sooner than originally planned because the world faces many urgent problems and he wants to fund, and encourage others to fund, new tools to solve them. This is an opportunity to say, “philanthropy really can change the world,” Gates said in an interview. Over the Gates Foundation’s 25 years, “we’ve been able to have huge impact and so, hopefully, that inspires people both in global health and in other areas.”
The foundation said it would double its spending over the next two decades and close its doors at the end of 2045 after disbursing the billions. The foundation’s charter previously called for it to close 20 years after Gates’s death. Gates said he expects the total to be more than $200 billion, including his wealth and the foundation’s current endowment, which was $77.2 billion at the end of 2024. It also includes contributions from Warren Buffett during his lifetime. Even after a quarter-century of philanthropy, he is still one of the world’s richest men, with a net worth of about $108 billion.
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BRITISH AIRWAYS OWNER IAG TO BUY 53 BOEING & AIRBUS PLANES
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British Airways owner International Consolidated Airlines said it ordered 53 planes from Boeing and Airbus, marking a significant investment in its fleet. The airline group, which also houses Iberia and Vueling among others, said it ordered 32 Boeing 787-10 aircraft for British Airways and 21 Airbus A330-900neo aircraft which it said could be deployed to Iberia or its other companies Aer Lingus or Level. The aircraft are due to be delivered between 2028 and 2033, with the orders subject to shareholder approval in June, IAG said Friday. The move comes on the heels of Thursday’s framework trade agreement between the U.S. and the U.K., in which both countries agreed to curtail tariffs on certain goods, including Rolls-Royce jet engines and parts. As part of the order agreement, British Airways holds the right to purchase up to 10 more U.S.-made Boeing 787s, while IAG can buy up to 13 additional Airbus A330-900neo aircraft.
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JEFFCO "CLEAN IRON" PLANT GETS INAUGURAL $8 MILLION COLORADO DECARBONIZATION TAX CREDIT
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A Boulder company with a patented method to take most of the carbon emissions out of the energy-intensive iron and steelmaking process will use $8 million from the inaugural state industrial tax credit to build a manufacturing plant in Jefferson County. The patented process produces “clean” industrial iron at the temperature of a cup of coffee, rather than the 1,200-degree Fahrenheit furnaces traditionally used in iron and steelmaking, according to Electrasteel Inc, known as Electra. Currently employing more than 130 people, Electra uses an electrochemical process and hopes to cut 30 percent or more of the carbon emissions from traditional production.
The new Jeffco plant, planned for opening in 2026, will still be a demonstration-scale facility, but will steeply ramp up production from the Boulder research pilot facility that produces about 100 metric tons of clean iron plates each year. The company announced recently that it completed a capital fundraising round for $186 million to help build the new plant. Colorado’s Industrial Tax Credit Offering has $168 million to award in state credits, and is a competitive process aimed at promoting decarbonization ideas that further Colorado’s goals of 50 percent emission reductions by 2030. The credits are refundable, meaning if it is more than a company’s state tax obligation, they can receive some of the credit as a cash refund.
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PLAN APPROVED FOR FISHERS CANYON, POISED TO BE COLORADO SPRINGS' NEXT OUTDOOR DESTINATION
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Colorado Springs' Parks Board has approved a highly anticipated plan for Fishers Canyon Open Space, setting the stage for the city's next outdoor destination on scenic land acquired in 2021. The 343 acres of meadows, pines and rock formations soaring to the city park system's highest point — surpassing North Cheyenne Cañon Park's Mount Muscoco above 8,000 feet — flank Cheyenne Mountain and Pike National Forest, behind the Broadmoor Bluffs neighborhood. Parking lots and trails are planned through a gate at the end of a residential street. The plan calls for 69 parking spaces to be built initially, with as many as 110 possible. “The goal is to open access next year,” said David Deitemeyer, TOPS senior program administrator. That's if funding comes through. Deitemeyer said more than $4 million would be needed to build out the trail system's 9-10 miles along with special engineering and pavement for parking and trailhead infrastructure.
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PITKIN COUNTY TO RECEIVE SIGNIFICANT GRANTS FOR HWY. 82 SAFETY IMPROVEMENTS
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The Colorado Dept. of Transportation awarded Pitkin County more than $2.6 million in federal and state funds to make safety improvements on Colorado Hwy. 82, including the creation of the first “Michigan Left” in the state of Colorado. The grants include $2.5 million in federal funding and $81,735 in state match funding to make changes to two intersections on the highway. Pitkin County committed an additional $200,000 from local match funding. Pitkin County and CDOT worked together to analyze data on crashes at the Smith Way/Juniper Hill Road intersection and the Lazy Glen intersection. The two intersections have similar issues. Drivers making left turns at these intersections often misjudged oncoming traffic speed leading to T-bone crashes. Both intersections have had fatal crashes from this issue.
The Smith Way/Juniper Hill intersection will get a Reduced Conflict U-Turn configuration, also known as a “Michigan Left." This new structure removes the option to turn left directly at the intersection and instead directs drivers to turn right where they will find a new lane on the left to make a U-turn. According to previous implementations, this design can reduce the severity of conflicts and reduce crashes by 35 percent. Lazy Glen will receive a left-turn acceleration lane, which will make it easier for drivers to enter Hwy. 82 by merging into traffic with reduced speed differentials. The money is slated for the 2028 fiscal year.
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MOUNTAINFILM RELEASES FULL SCHEDULE, PASSES ON SALE NOW
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The 47th edition of Mountainfilm has assembled a collection of films and speakers as diverse and far-reaching as the natural environment that serves as the common setting and focus of the films and filmmakers celebrated each May in Telluride, films that celebrate “adventure, activism, social justice, environment and indomitable spirit.” Passes went on sale earlier this week, with a full slate of over 100 films, including more than 80 World, North American, U.S. and Colorado premieres. Twenty short films will make their world premiere at Mountainfilm, and this year’s lineup should be of particular interest to Telluride audiences, with local subject matter filling the screen in films like “Mountain Joy,” the story of longtime locals Dave and Sherry Farny, who opened The Ashcroft Mountaineering School in Aspen in the ‘60s before moving the school to Telluride where they provided extended wilderness programs for over 1,000 young.
Festival goers are often as interested in the speaker series as they are in the films, and this year the weekend ramps up with a Friday symposium titled, “A New Era of Conservation: How Indigenous Leadership is Reshaping What We Thought We Knew About Land Management.” Among the speakers is Deb Haaland (Laguna Pueblo), who is a current gubernatorial candidate for governor of New Mexico and the former U.S. Secretary of the Interior in the Biden administration. Also on the panel is Ernest House Jr. (Ute Mountain Ute), Senior Policy Director at the Center for Tribal & Indigenous Engagement, Keystone Policy Center. For more information and to purchase passes, visit mountainfilm.org.
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NORDFEST RETURNS TO MANCOS BREWING FOR CANCER SUPPORT FUNDRAISER
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The third annual Nordfest will transform Mancos Brewing into a vibrant festival on Saturday, June 14 from 3 to 8 p.m., bringing together five local bands, local breweries and community members to raise funds for cancer support organizations in Southwest Colorado. The event, born from Mancos resident Erik Nordstrom’s battle with prostate cancer, continues to grow as a way to rally around community members as they fight against cancer. Though the event is free, a $20 donation is suggested. All proceeds will benefit the Cancer Support Community Southwest Colorado and the Cancer Resource Alliance of Montezuma and Dolores Counties.
Five local breweries, Mancos Brewing, Ska Brewing, Anarchy Brewing, Dolores River Brewery and WildEdge Brewing Collective, alongside Fenceline Cider, will offer a variety of beverages for those in attendance. Organizers expect a lively crowd, with dancing encouraged throughout the event. Attendees are advised to bring chairs for the five-hour concert. For those unable to attend, donations can still be made to the Cancer Support Community of Southwest Colorado and the Cancer Resource Alliance of Montezuma and Dolores Counties.
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STEAMBOAT SPRINGS DESIGNATES MAY AS HISTORIC PRESERVATION MONTH
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Steamboat Springs has proclaimed May as Historic Preservation Month. The city is joining national efforts to celebrate the theme “Harnessing the Power of Place” and highlight the importance of preserving both the physical landmarks and cultural traditions that define local heritage, according to a statement from the city. “Whether it is the views to Howelsen Hill, Mt. Werner, a stop in a local coffee or bookstore, or the oral histories passed down from longtime locals to first-time visitors – our local history is what makes Steamboat Springs special to each of us, in different ways,” said Historic Preservation Planner Caitlin Berube-Smith at Tuesday’s City Council meeting, where the proclamation was officially signed.
Throughout May, the city, the Tread of Pioneers Museum and Historic Routt County will host events, including preservation-themed films at the Wildhorse Theater on May 17 and the annual Ute Powwow on May 19. The two organizations will also work with the city to place “History Lives Here!” signs throughout the community. A free historical walking tour of downtown Steamboat will take place starting from the Tread of Pioneers Museum at noon on May 22. The month will conclude with the announcement of the debut of the Spur Preservation Awards, recognizing local preservation achievements.
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LOVELAND SKI AREA SET TO CLOSE ON SUNDAY
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Loveland Ski Area will close for the season on Mother’s Day, Sunday, May 11. The final day of the 2024-25 season at Loveland is set to include springtime laps, an outdoor BBQ with drink specials and live music from LIGEDELIC on the Basin Patio. After the ski area received over a foot of snow in a two-day span earlier in the week, guests can expect smooth turns for closing weekend. Loveland joins Breckenridge Ski Resort and Copper Mountain in closing for the winter season on May 11.
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DENVER'S CRAWFORD HOTEL RANKS AMONG BEST LUXURY HOTELS IN U.S.
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A Denver hotel has been named one of the best U.S. luxury hotels, according to TripAdvisor’s 2025 Travelers Choice Awards. The Crawford Hotel, located inside Denver Union Station, ranked No. 24 on TripAdvisor’s list of the 24 best luxury hotels.
- The 112-room hotel, which is owned by Denver-based Sage Hospitality, was the only hotel in Colorado to make the list.
- The “Best of the Best” title is awarded to hotels across the country that receive a high volume of “above-and-beyond” reviews and opinions over a 12-month period. Of TripAdvisor’s 8 million listings, fewer than 1 percent were placed on its “Best of the Best Hotels” lists.
- Of 2,000 reviews, the hotel boasts a 4.7 out 5 five average rating, with guests commonly pointing out the concierge service, its pet policy, and restaurants, including Sage Hospitality-owned Mercantile, located inside Union Station.
- The restaurant opened in 2014 and was developed by James Beard Award-winning chef Alex Seidel.
- Other eateries inside Union Station include Spanish restaurant Ultreia and dessert bar Baumé.
- In July 2024, The Crawford Hotel underwent an $11 million renovation along with some of Union Station’s public spaces. The upgrades included upgrades to its guest rooms, a private lobby called The Parlour for hotel guests, new furniture, art and children’s bedtime stories centered around the hotel’s namesake Dana Crawford, a Denver preservationist and developer.
- The hotel also received a Michelin Key — an award that recognizes outstanding hotels — last year.
- Two other Colorado hotels ranked in TripAdvisor's other travelers' choice awards categories. Estes Park's Murphy's Resort ranked No. 6 out of 10 for best pet-friendly hotels in the U.S., and Breckenridge's Grand Colorado on Peak 8 ranked No. 7 out of 15 in a list of the best family-friendly hotels in the U.S.
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BEST THINGS TO DO IN COLORADO THIS MOTHER'S DAY WEEKEND
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Every weekend, Denver7 compiles a list of some fun events you might enjoy. Here are their picks for the seven best things to do in the Denver metro area and beyond this weekend.
- Call your mom. Surprise her. Take her out to a nice dinner. Seriously.
- Watch the Nuggets take on the Oklahoma City Thunder for Game 3 of the Western Conference semifinals. The Nuggets, 1-1, will face the Thunder at home for games 3 and 4 of the semifinals this weekend. If you have tickets, you can of course watch them play at Ball Arena on Friday and Sunday. If not though, McGregor Square is hosting a watch party starting at 7 p.m. before the match starts an hour later. The event is free of charge, but you are encouraged to RSVP. Looking for a place to watch Game 4 on Sunday? No better place than home since the game will air on Denver7!
- See a movie at the last drive-in movie theater in the Denver metro area this weekend: The 49th season of Commerce City’s 88 Drive-In Movie Theater begins this weekend with showings of “A Minecraft Movie” (PG) and “Sinners” (R) from Friday through Sunday. Box office opens at 7:30 p.m. Admission is $10 and includes all features.
- Have a sweet tooth? Then the Colorado Chocolate Festival is just for you! If chocolate heaven sounds just about right for you, then look no further than the Colorado Chocolate Festival this weekend. There will be chocolate samples, chocolate martinis, chocolate cake competitions, cooking demos, live music and gifts for mom and more. The event will take place Friday and Saturday at the National Western Expo Hall in Denver.
- A benefit concert for the victims of Flight 629 is taking place at the Mead High School Auditorium. The Flight 629 Memorial Committee is honoring the victims of the 1955 airplane bombing in Weld County with a benefit concert featuring George Gray and the Elvis Experience Band. Special guest performances by Mead High School students will also take place. The event is taking place Saturday at 7 p.m. Tickets can be purchased at purplepass.com. Just search “629” to find tickets for the event.
- Take part in a NAMIWalk against mental illness in Littleton this weekend. The mission of NAMI Colorado is to build communities of recovery and hope by educating, supporting and advocating for individuals affected by mental illness and their families. This Saturday, NAMIWalks will hold a walk starting at Robert F. Clement Park Amphitheater in Littleton. More information is available at namiwalks.org.
- No other ideas for Mother’s Day? How about a paint and plant day? Celebrate Mother’s Day at the Butterfly Pavilion painting beautiful flowers, planting native flowers to take home and grow from seeds, and promenading through the gardens to observe the pavilion’s native pollinators. The event takes place Saturday from 10 to 11:30 a.m. or from 1 to 2:30 p.m. Tickets and more information can be found at butterflies.org/event/mothers-day.
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MARKET UPDATE - 05/08/2025 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 05/08/2025)
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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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