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Colorado - Fri. 05/16/25 |
A Free Business Publication from Alpine Bank
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DICK'S SPORTING GOODS TO ACQUIRE FOOT LOCKER FOR $2.4 BILLION
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Dick’s Sporting Goods said it plans to acquire rival Foot Locker as it looks to expand its international presence, win over a new set of consumers and corner the Nike sneaker market. Dick’s will use cash on hand and new debt to acquire Foot Locker for $2.4 billion. Foot Locker shareholders can receive either $24 in cash - a roughly 66 percent premium of Foot Locker’s average share price over the last 60 days - or 0.1168 shares of Dick’s stock. As of Wednesday’s close, Foot Locker shares were down 41 percent this year. While the companies are longtime rivals, both competing to sell the same brands in their stores, Dick’s is almost double the size of Foot Locker in terms of revenue. In their most recent fiscal years, Dick’s reported $13.44 billion in revenue, while Foot Locker saw $7.99 billion. Dick’s said it expects to operate Foot Locker as a stand-alone business unit within its portfolio and maintain the company’s brands – Foot Locker Kids, WSS, Champs and atmos.
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NATIONAL TRUST FOR LOCAL NEWS SELLS 21 COLORADO COMMUNITY MEDIA PUBLICATIONS
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National Trust for Local News announced Tuesday it is selling 75 percent of its Colorado-based community newspapers to an Arizona-based media company. The trust sold 21 of its publications to the Times Media Group, a for-profit company that owns and operates more than 60 publications in Arizona and California including weekly newspapers, magazines, specialty publications and digital publications. Times Media Group purchased newspapers like the Arvada Press, Littleton Independent and Parker Chronicle. The National Trust held on to seven publications - the Brighton Standard-Blade, Fort Lupton Press, Canyon Courier, Clear Creek Courant, Northglenn-Thornton Sentinel, Westminster Window and Golden Transcript.
The National Trust acquired Colorado Community Media in 2021 and opened the Trust Press in Denver last fall. As part of the deal, Times Media Group will print its newly purchased papers through the printing press. The majority of Colorado Community Media’s employees were offered positions with Times Media Group, while others will stay with the Colorado Trust for Local News.
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HISTORIC STANLEY HOTEL SELLS TO UNIQUE PARTNERSHIP LED BY COLORADO STATE CULTURAL AUTHORITY
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The iconic Stanley Hotel in Estes Park has been sold to a public-private partnership involving the Colorado Educational and Cultural Facilities Authority and private investors in the authority’s $400 million bond sale. The new Stanley Partnership for Art Culture and Education — or SPACE — will own the 41-acre, 140-room Stanley Hotel complex, with the hotel’s nearly 30-year owner John Cullen managing the property. The $400 million bond offering will fund expansions on the historic property, with the addition of 65 lodging rooms and a 65,000-square-foot event center. That event center is funded in part by a $46 million sales tax package from the Colorado Office of Economic Development and International Trade and the Colorado Economic Development Commission’s Regional Tourism Act program.
A year ago, the Colorado legislature amended the statute that governs the cultural facilities authority so that it could purchase the Stanley Hotel. The Colorado Educational and Cultural Facilities Authority — or CECFA — formed in 1981 and has helped 300 organizations across the state secure $7.6 billion in low-interest, tax-exempt bonds for schools, student housing, performance halls, museums and Olympic training facilities. The legislation signed into law in May 2024 allows the authority to form a nonprofit that will own and manage the Stanley Hotel, marking the first property owned by the 44-year-old CECFA.
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COLORADO GOVERNOR VISITS DILLON RESERVOIR TO SIGN PACKAGE OF BILLS MEANT TO BOLSTER STATE'S WATER SECURITY
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Perched above the Dillon Reservoir on the side of a mountain road in Summit County, Gov. Jared Polis on Thursday signed into law three bills aimed at bolstering the state’s water infrastructure. The measures come amid the backdrop of chronic drought and increased water demand in the West, which have made finding a path towards water sustainability more urgent. Negotiations between Colorado and six other states over future use of the Colorado River, which serves around 40 million people, remain at a standstill. Here’s what the new laws do:
- Better snowpack mapping: To better measure Colorado’s primary source of water supply, House Bill 1115 establishes a new statewide program for tracking snowpack. The data is critical for water providers to know how much water to allocate and conserve throughout runoff season, but the technology isn’t an exact science. To help fill in the gaps, HB 1115 charges the Colorado Water Conservation Board with deploying newer methods such as light detection and ranging technology, also known as LiDAR.
- More money for water projects: State voters’ decision to approve a tax on sports betting in 2019 has provided a critical funding source for water projects, delivering as much as $30 million a year for infrastructure and conservation efforts. House Bill 1311 takes that a step further by eliminating a tax exemption for revenue generated from free sports bets. By eliminating this exemption, the state could take in an additional $3.2 million in the upcoming fiscal year, with that figure increasing to $11.5 million by 2028.
- Finding solutions to funding woes: Under Senate Bill 40, the state will commission a nine-member task force within the Dept. of Natural Resources to study the future of severance tax revenue and come up with solutions to better fund the state’s water needs.
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BASALT COUNCIL PASSES STR FEE
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Basalt Town Council voted 4-3 to impose a $2,532 per-bedroom fee on its short-term rental license-holders. The Tuesday night vote ended a months-long debate over mitigating the impact of STRs on housing in Basalt versus protecting some local homeowners’ income stream. Owners and non-owner occupants who use the property as their primary residence and rent the space as an STR for 60 days or less annually will be exempt from the fee. It will take effect in 2026 as the town issues STR licenses at the beginning of the calendar year. As of May 1, the town has 39 active STR licenses, with seven licenses still under review. The fee is expected to bring in about $100,000 annually, which the town will use for affordable housing initiatives.
The fee itself is a product of a STR Regulatory Fee Study from Denver-based Economic and Planning Systems. The study analyzed the nexus between the economic impact of STRs and housing costs. It recommended the levying of an annual fee for $5,064 per bedroom to defray the impact of STRs on housing affordability for employees generated by those rentals. At the recommendation of the Basalt Affordable Community Housing group, the fee was cut by 50 percent to the $2,532 amount.
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HIGHLINE LAKE OPENS FOR BOATING ON SATURDAY
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Colorado Parks and Wildlife announced that Highline Lake will reopen for boating beginning at 7 a.m. on Saturday. The lake has been closed since November when it was drained in hopes that invasive zebra mussels would be killed off over the winter because of lack of water and freezing temperatures. During the lake’s closure, the west side of the park received much-needed repairs, including a new concrete pad in 2024. Upgrades to the Aquatic Nuisance Species inspection and decontamination stations were also made in early 2025. Recreational boaters and anglers can expect similar boating protocols as they did in 2023. These changes were implemented after the discovery of zebra mussels in September of 2022, prompting CPW to designate Highline Lake as Colorado’s first infested body of water. Boating hours for 2025 will be from May 17 to May 23, from 7 a.m. to 7 p.m. From May 24 through Labor Day weekend, boating will be open from 7 a.m. to 9 p.m.
What to expect for the 2025 boating season:
- All boats launching at Highline Lake will be subject to inspection and decontamination protocols before launching.
- All boats must be clean, drained and dry before launching at Highline Lake, or they will be decontaminated.
- Upon exiting the lake, all boats will be inspected and decontaminated, and boaters will be issued a green seal and a blue receipt indicating the boat was last used on a body of water with a known aquatic nuisance species.
It won’t be determined if draining the lake fully eradicated the mussels until later in the fall when metal docks and buoys, which mussels attach to, are removed for the season. In addition to inspection and decontamination protocols, boaters are reminded that Wakeless Wednesdays will be in effect every Wednesday through Sept. 30. No boat or watercraft is allowed to operate at speeds that create a wake. Any motorized boat that enters Highline Lake during this time is required to go through inspection and decontamination protocols. After the return of normal water levels, CPW will begin restocking Highline Lake.
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VA TO HOST SUICIDE-PREVENTION SEMINAR
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The VA Western Colorado Health Care System will host a community and clergy suicide-prevention and moral injury seminar from 2 to 4:30 p.m. on Monday, May 19, at Western Region One Source, 452 38 Road, in Grand Junction. The seminar is aimed at empowering community members and clergy to play an active role in preventing Veteran suicides. It will serve as an essential platform for education and collaboration, providing attendees with the tools and knowledge necessary to support our Veterans effectively. As part of a broader initiative to reach zero veteran suicides, the event will focus on understanding moral injury and developing strategies to prevent suicide among veterans. Community members and clergy are encouraged to attend this seminar and take an active role in supporting veterans. To register for the event, call 970-393-1064 or email rachel.mikaelsen@va.gov.
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TEF COOKS UP NEW 'SUPPER CLUB' FUNDRAISER
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The Telluride Education Foundation (TEF) is a nonprofit, all-volunteer organization that raises money to support the Telluride R-1 School District. Since the beginning of the school year, TEF has been cooking up a new spring fundraiser called the School Supper Club, where at least 16 restaurants will offer discounts and specials from Wednesday, May 28 through Saturday, May 31. Proceeds benefit TEF and its initiatives.
- The restaurants 221 S. Oak and Liz will donate five percent of all sales proceeds to the cause.
- Wood Ear will donate 20 percent of its cocktail proceeds.
- La Marmotte will donate 50 percent of champagne sales.
- Kazahana will offer a special sushi roll.
- The National will offer a special lamb pistachio meatballs dish with 100 percent of sales revenue from each going to TEF.
- Smugglers Union will donate 100 percent of its proceeds from the sale of chicken tenders, root beer, and ginger beer.
- SideWork restaurant will donate 100 percent of proceeds from a featured cocktail.
- Stronghouse Brew Pub will donate $1 for every beer sold.
- "There" will donate 100 percent of sales from bao buns and a featured grapefruit drink.
- The Butcher & The Baker will offer 50 percent off breakfast burritos and chocolate chip cookies and will donate $1 for each customer who brings their own take-out cup.
- The Coffee Cowboy will donate $1.50 for each Annie Oakley latte sold.
- Communion will donate all proceeds from Colorado wines and Spanish Conserva.
- Floradora Saloon will donate seven percent of sales from May 28-30.
- Van Atta will donate 50 percent of proceeds from each Little Hawaii no.002 cocktail, and with a celebratory bellringing.
- Brown Dog Pizza will match all customer contributions during dinner service.
On Saturday, May 31, from 1-6 p.m., TEF will also host a fundraising barbeque on Town Park stage, sponsored by Alpine Bank and catered by There, Oak, Latin Creations, and Will Nolan of Black Salt Hospitality, with Stronghouse providing and serving beer. The $25 entry fee includes unlimited food. The entry fee for children ages 5-12 is $12, and children under 5 are free. Mixed drinks are $10, and beer and other non-alcoholic drinks are $5. The entire community is invited, and graduating seniors are admitted for free. For more information on TEF, visit tellurideeducation.org.
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MEADOW CREEK TRAIL TO BE CLOSED FOR REPAIRS THIS SUMMER
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The U.S. Forest Service announced on Monday, May 12, that the first half mile of the popular Meadow Creek Trail west of Frisco will be closed throughout most of the summer season. The opening section of the trail will be closed while crews complete repairs and maintenance. Seeing over 100,000 visitors annually, the Meadow Creek Trail has seen widespread erosion, trail braiding and other impacts. As a result, many sections of the trail have become difficult to hike. The trail and trailhead will be closed every day from May 19 to June 14 while crews use machinery to build trail foundation and erosion control features. Construction will then continue from June 15 to Aug. 2, but the trail and trailhead will be closed on weekdays only. The project will be a cooperative effort among the White River National Forest, Eagle Summit Wilderness Alliance, Colorado Parks and Wildlife and Rocky Mountain Youth Corps.
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COPPER MOUNTAIN SUMMER OPERATIONS TO BEGIN ON JUNE 20
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Although it just closed for the winter season on Sunday, May 11, Copper Mountain Resort has already shifted its focus to summer operations, which will officially begin on Friday, June 20. Starting on June 20, Copper activities will be open Sunday through Thursday from 10 a.m. to 5 p.m.; and Friday and Saturday from 10 a.m. to 7 p.m. All resort activities will be based out of Center Village with the American Eagle chairlift open for scenic rides and bike hauls Friday through Wednesday from 10 a.m. to 4 p.m., and from 10 a.m. to 5:30 p.m. on Thursdays.
Guests can purchase a summer activity pass which provides access to a full day of mountain activities. An individual activity day pass is available for $79, and a family activity day pass for a family of four costs $249. Each pass includes unlimited access to bumper boats on West Lake, scenic chairlift rides and the Wrecktangle ninja course along with three uses on the bungee trampoline, one ride on the Rocky Mountain Coaster and one session on the go-karts.
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THE WORLD'S 10 HIGHEST-PAID ATHLETES 2025
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For the third year in a row, and the fifth time overall, Cristiano Ronaldo is the world’s highest-paid athlete. But at age 40, the Portuguese soccer superstar is reaching new highs. Over the past 12 months, counting both his playing salary at Saudi Arabia’s Al-Nassr and his off-field business endeavors, Ronaldo collected an estimated $275 million before taxes and agent fees—the third-best year by an active athlete ever measured by Forbes.
On that all-time list, Ronaldo is surpassed only by boxer Floyd Mayweather, who earned $300 million in 2015 and $285 million in 2018. And when it comes to the 2025 leaderboard, Ronaldo has a $119 million advantage over No. 2, Golden State Warriors guard Stephen Curry. The gap is especially impressive considering that Curry’s $156 million total is also a record for his sport, beating the NBA mark of $128.2 million set last year by LeBron James. Combined, the 10 highest-paid athletes brought in $1.4 billion, up slightly from last year’s $1.38 billion and the largest total since Forbes began ranking athlete earnings in 1990.
The World’s 10 Highest-Paid Athletes:
- Cristiano Ronaldo, Soccer, $275 million
- Stephen Curry, Basketball, $156 million
- Tyson Fury, Boxing, $146 million
- Dak Prescott, Football, $137million
- Lionel Messi, Soccer, $135 million
- LeBron James, Basketball, $133.8 million
- Juan Soto, Baseball, $114 million
- Karim Benzema, Soccer, $104 million
- Shohei Ohtani, Baseball, $102.5 million
- Kevin Durant, Basketball, $101.4 million
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CELEBRATE COLORADO PUBLIC LANDS DAY AT COLORADO STATE PARKS
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Colorado Parks and Wildlife, along with several local, state and federal partner agencies, invites you to celebrate Colorado Public Lands Day on Saturday, May 17. Colorado Public Lands Day is an annual opportunity to celebrate our state’s outdoor heritage, diverse landscapes, and bring people from all Colorado communities together to enjoy our public lands. Colorado is home to 22 million acres of public lands to explore, including 43 state parks, more than 350 state wildlife areas, 13 National Park Service units, 11 national forests, two national grasslands and a variety of additional local and federal lands and open spaces.
In honor of Colorado Public Lands Day, CPW is hosting the following events:
- Lathrop State Park - Trail Maintenance and Restoration Training: This skills training is designed for volunteer trail stewards and crew leaders who want to take an active role in maintaining and protecting mountain biking trails in Huerfano and Las Animas Counties.
- Highline Lake State Park - Kids to Parks Day: Junior Ranger Hike: Join us for a Junior Ranger hike and work toward earning your badge.
- Lake Pueblo State Park - Kids to Parks Day at Lake Pueblo: Stop at the Visitor Center to enjoy outdoor games, a scavenger hunt, and nature-inspired arts and crafts. After you join us for activities at the Visitor Center, get out and enjoy the park by taking a hike, hitting the trails for a bike ride or go fishing.
- Arkansas Headwaters Recreation Area - Clean Up Green Up & Gear Up for Summer: The purpose of this event is to get the local community of the Upper Arkansas River Valley outside, engaged, and ready for a safe, clean, and fun summer. Participants of Clean Up Green Up will assist in removing trash from the river. Gear Up for Summer will offer booths, swag, and free personal flotation devices (PFDs) to a limited number of participants.
- Cheyenne Mountain State Park - Kids to Parks: Test your skills in archery or cornhole. Learn about wildlife through an educational skins and skulls display. Test your knowledge of Leave No Trace. Learn how to use your smartphone to become a citizen scientist. And so much more!
- Mueller State Park - Fly Fishing Basics: Learn how to fly fish and how it’s different from other styles like bait fishing, trolling, and spinning. Use your new or seasoned skills to try to catch a fish at one of Mueller’s favorite ponds. All fishing supplies will be provided for you.
- North Sterling State Park - Guided Nature Hike: Enjoy a guided six-mile hike with a CPW park ranger and see various waterfowl, predatory birds, various mammals and reptiles along the way.
- Roxborough State Park - Guided Wildflower Hike: This guided hike will take you around the Willow Creek Trail (1.5 miles) with volunteer naturalists Sue Schleuder and Jill Holden, who will help identify the wonderful wildflowers that grow at this time in the park.
Colorado Parks and Wildlife is an enterprise agency, relying primarily on license sales, state parks fees and registration fees to support its operations, including: 43 state parks and more than 350 wildlife areas covering approximately 900,000 acres, management of fishing and hunting, wildlife watching, camping, motorized and non-motorized trails, boating and outdoor education. CPW's work contributes approximately $6 billion in total economic impact annually throughout Colorado.
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MARKET UPDATE - 05/15/2025 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 05/15/2025)
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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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