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Colorado - Fri. 05/30/25 |
A Free Business Publication from Alpine Bank
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KING SOOPERS & UNION EXTEND NO-STRIKE PERIOD FOR ANOTHER WEEK
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King Soopers and the grocery workers union will continue negotiating for at least another week to avoid a strike. The Colorado grocery chain operated by Kroger and United Food and Commercial Workers Local 7 had a 100-day peace agreement to halt February’s strike and continued bargaining for a new contract, with the period set to expire Wednesday night. The two parties agreed to extend the peace period until the end of June 8. King Soopers, which includes City Market stores, said that the company and the union made “promising progress” over the last two days of bargaining. The union said it reached an agreement with King Soopers on issues such as limiting the grocer from subcontracting curbside pickup work to Instacart gig workers, creating a sanitation and floor maintenance department in at least 20 stores over several years and letting other workers from Kroger-affiliated stores carry over seniority for benefits such as healthcare, pay and vacation time.
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U.S. SUPREME COURT RULING MAY PUSH MORE CRUDE THROUGH COLORADO
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The controversial Uinta Basin Railway won a rare victory in a U.S. Supreme Court unanimous decision published Thursday. The high court overturned a federal appeals court decision that rejected the Surface Transportation Board’s approval of the proposed railroad connecting Utah’s rural Uinta Basin oil fields with the national rail network, clearing the tracks for more crude tankers rolling through Colorado along the Colorado River. The country’s highest court said Thursday the Surface Transportation Board’s 2021 approval of the Uinta Basin Railway, following several years of review and a 3,600-page environmental impact statement, adequately analyzed the impact of the railroad and the agency did not need to study potential impacts from increased drilling or refining of Uinta Basin crude. Justice Neil Gorsuch recused himself from the case because of his prior work for Colorado billionaire Philip Anschutz.
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TRUMP TARIFFS REINSTATED BY APPEALS COURT FOR NOW
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A federal appeals court on Thursday granted the Trump administration’s request to temporarily pause a lower court ruling that struck down most of President Donald Trump’s tariffs. The Trump administration had earlier told the U.S. Court of Appeals for the Federal Circuit that it would seek “emergency relief” from the Supreme Court as soon as Friday if the tariff ruling was not quickly put on pause. The judgment issued Wednesday night by the U.S. Court of International Trade is “temporarily stayed until further notice while this court considers the motions papers,” the appeals court said in its order. The appeals court gave the plaintiffs, a group that includes state attorneys general and a handful of domestic businesses, one week to respond to the administration’s bid for a stay pending appeal. The government will then have until June 9 to reply.
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DENVER NWSL HIRES SOCCER EXEC CURT JOHNSON AS CLUB'S FIRST GENERAL MANAGER
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Longtime American soccer executive, Curt Johnson, 56, was officially named the first general manager of Denver’s NWSL expansion franchise on Thursday morning. He comes to the gig after a stint as the Chief Soccer Officer of the North Carolina Courage, and he also previously spent time in the front office of the Richmond Kickers, Sporting Kansas City and North Carolina FC. Johnson is Denver NWSL’s second major hire after the club tabbed Cherry Creek and CU alum Jen Millet as its president and first official employee last month. Johnson signed a multi-year contract with an option. He comes into the club that’s set to play its first two seasons at a modular stadium in Centennial before moving to a permanent home in Denver — a 14,500-seat stadium at Santa Fe Yards that was recently green-lit by the Denver City Council. The Raleigh, N.C., native played collegiately at North Carolina State and is a member of the North Carolina Soccer Hall of Fame.
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FORMER SPRINT CEO SELLS ASPEN TEARDOWN FOR $37.3 MILLION
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Former Sprint CEO Marcelo Claure has sold a large property in Aspen, to his neighbor for $37.3 million, five years after buying it for $11 million. Just outside downtown Aspen, the roughly 21-acre property has a long-vacant house. It was listed for $45 million in 2023 with plans for two new, roughly 15,000-square-foot houses. Property records show the buyer is Joseph A. Badia, the owner of an adjacent property. He also purchased development rights from Claure for just under $4 million. Joseph and his wife, Nancy Badia, purchased a six-bedroom house on roughly 10 acres in Aspen last year for $18.5 million. They bought Claure’s property to prevent it from being developed, said real-estate agent AJ Morris of Aspen Snowmass Sotheby’s International Realty, who represented the Badias with his father and colleague, Craig Morris.
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WESTERN SLOPE FOOD INSECURITY GREW 21% SINCE 2019
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With grocery prices and the economy dominating conversations over the past few years, it may not be a surprise that food insecurity has increased by 21 percent across the Western Slope between 2019 and 2023 (the most recent year with available data). Approximately 13.7 percent of Mesa County residents (21,480 people) are food insecure, which is better than the nationwide estimate of 14.3 percent but notably higher than Colorado’s 12.7 percent assessment. Despite boasting its own food distribution center and several food banks, over 1,000 more Mesa County residents are struggling with food insecurity than in the year prior.
The report also estimated that about 35 percent of food-insecure residents make too much to qualify for the Supplemental Nutrition Assistance Program, meaning they must rely on the increasingly strained food banks and more restrictive resources to avoid going hungry. Visit foodbankrockies.org to learn more, receive services, donate or volunteer. The Grand Junction Community Food Bank is also seeking volunteers and donations, which you can learn more about by visiting foodbankgj.org/needs.
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JOIN PARANORMAL RESEARCHERS FOR A SPECIAL TOUR AT MUSEUM OF THE MOUNTAIN WEST
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The Second Empire House, now located at the Museum of the Mountain West in Montrose, was officially preserved for its unique architectural significance. But some believe the house, originally located on the corner of South Fifth Street and Selig Avenue, is haunted by the ghost of a horrible crime. Now, guests can see it for themselves this weekend as part of a special collaboration between the Paranormal Researchers/Interest Group and the museum. The group volunteered to help clean up the house to ensure it’s safe to walk through, and this Saturday, May 31, the public can join in a tour where they will learn more about the history of the Museum’s collection and try their hand at paranormal investigating.
Becca Little, her fiancé Seth Davis, his son Quintin and Quintin’s best friend Gwen Hearing make up the group. “It’s a family ordeal,” Quintin said. Tickets are $20 and will go toward the museum’s effort to continue restoring the house. Interested guests must call the museum at 970-240-3400 to RSVP. Orientation begins at 8:30 p.m. and the tour starts at 9 p.m.
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WASTEWATER SYSTEM FAILS NEAR HESPERUS, SENDING E. COLI INTO NEARBY WATERWAY
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Some La Plata County residents are looking for alternate sources of drinking water after a wastewater treatment system malfunctioned, sending E. coli into the local waterways. The wastewater treatment system serves Pine Winds Mobile Home Park, where about 60 people live east of the La Plata River and west of Durango. Rivulets of water crisscrossed the community’s main road Monday, flooding its central leach field. The field typically helps treat wastewater before it enters the groundwater system or nearby creek that flows into the La Plata River. The leach field is failing, said Nicole Rowan, director of the water quality control division at the Colorado Dept. of Public Health and Environment. The state has been working to address the issue since May 16. The oversaturated leach field was releasing high concentrations of E. coli bacteria into the nearby creek as of Wednesday.
The main concern is the groundwater that is flowing away from the leach field to about 10 neighboring properties that have private wells. Anyone who uses a private well within one mile of Pine Winds Mobile Home Park should switch to bottled or filtered water until the state knows more about the water quality of the wells. That includes using alternate water sources for drinking, making formula for infants, making ice, brushing teeth, cooking, washing produce and washing dishes. When bathing, parents should ensure children do not get water in their mouths or eyes. CDPHE also suggested providing alternate water to pets and livestock when available. People recreating in or using water from the La Plata River near the affected area are encouraged to use caution and follow basic safety practices.
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CONSTRUCTION PROJECTS WILL IMPACT TRAVEL IN COLORADO'S MOUNTAINS THIS SUMMER
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Colorado transportation officials are reminding travelers that summer is also road construction season in the mountains. Beginning in June, work on critical infrastructure projects will have noticeable impacts on travel along some popular routes. Drivers can use COTrip.org to help plan for summer travel or visit CODOT.gov/projects to view a full list of projects happening this summer in the mountains. Here’s what projects travelers should be aware of:
I-70 Corridor
- Travelers should expect “significant impacts,” including traffic holds for rock scaling and blasting, along the Interstate 70 corridor due to two ongoing projects, the I-70 Floyd Hill project and the Vail Pass Auxiliary Lane project. To sign up for text alerts for the Floyd Hill project, text “floydhill” to 21000.
- The I-70 Vail Pass Auxiliary Lane project will result in about 20-minute-long traffic holds Mondays through Thursdays in early to mid-June, between 9:30 a.m. to 2:30 p.m. To sign up for text alerts for the I-70 Vail Pass Auxiliary Lane project, text “vailpass” to 21000.
- There are also five other smaller projects on the I-70 corridor expected to have fewer impacts on traffic. To learn more about these projects, visit CODOT.gov/projects.
Northwestern Colorado
- Along U.S. Hwy. 40 through Winter Park to just before Granby, travelers will encounter three improvement projects, primarily focused on resurfacing and safety improvements, which are expected to cause weekly impacts.
- On a popular route along Colorado Hwy. 82 from Twin Lakes over Independence Pass to Glenwood Springs, travelers will experience three projects focused on resurfacing and safety improvements.
Northeastern Colorado
- Drivers headed toward Estes Park and the entrance of Rocky Mountain National Park will encounter one project on U.S. Hwy. 34 and U.S. Hwy. 36 focused on improving road safety.
Southwestern Colorado
- Rockfall mitigation and wall replacement work will be occurring on U.S. Hwy. 550 between Durango and Silverton.
- Construction in downtown Pagosa Springs, including utility upgrades, concrete installation, sidewalk and pedestrian improvements, will also be occurring this summer.
- In Mineral County along U.S. Hwy. 160, crews will be overlaying pavement on the west side of Wolf Creek Pass from Treasure Falls to the pass summit.
- In Costilla County along U.S. Hwy. 160 from Fort Garland to La Veta Pass, the installation of three wildlife underpasses and acceleration and deceleration lanes will result in single-lane closures and shoulder closures, 11-foot width restrictions, traffic detours and reduced speeds.
Southeastern Colorado
- In Teller County, improvements to U.S. Hwy. 24 between Florissant and just west of Woodland Park and along Colorado Hwy. 67 in Woodland Park could reportedly result in delays up to 15 minutes, single lane closures with alternating traffic and reduced speeds.
- In Teller County, widening, mobility and safety improvements on Colorado Hwy. 67 in Woodland Park from Evergreen Heights Drive to West Kelley’s Road will result in impacts, including lane closures.
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U.S. CITIES WHERE RETIREES LIVE ON THE HIGHEST ANNUAL INCOMES FROM SOCIAL SECURITY & SAVINGS
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In Carlsbad, California, retirees live on an average income of $85,442 a year from Social Security payments and withdrawals from savings and investments — the highest amount of any of the 344 largest U.S. cities. These two sources generally make up the majority of retirees’ income. In fact, 58 percent of retirees say Social Security is a major source of their income. In 2025, eligible Americans will receive an average of just under $24,000 a year in retirement benefits. But because Social Security retirement benefits are partially tied to earnings, higher earners tend to get bigger checks when they start claiming, though there is a cap. The same group is also likely to save more for retirement during their working years, which is why the cities where retirement income is the highest also tend to have the largest average Social Security benefits.
Here’s where retirees bring in the most each year between Social Security payments and retirement account withdrawals:
- Carlsbad, California: Average income from retirement accounts: $56,685; Average Social Security income: $28,757; Total: $85,442
- Bellevue, Washington: Average income from retirement accounts: $55,346; Average Social Security income: $29,715; Total: $85,061
- Naperville, Illinois: Average income from retirement accounts: $54,134; Average Social Security income: $30,921; Total: $85,055
- Arlington, Virginia: Average income from retirement accounts: $55,856; Average Social Security income: $26,396; Total: $82,252
- Sugar Land, Texas: Average income from retirement accounts: $52,946; Average Social Security income: $27,955; Total: $80,901
- Norman, Oklahoma: Average income from retirement accounts: $55,056; Average Social Security income: $25,121; Total: $80,177
- Alexandria, Virginia: Average income from retirement accounts: $53,697; Average Social Security income: $25,576; Total: $79,273
- The Woodlands, Texas: Average income from retirement accounts: $47,281; Average Social Security income: $31,752; Total: $79,033
- Boulder, Colorado: Average income from retirement accounts: $50,280; Average Social Security income: $27,906; Total: $78,186
- Carrollton, Texas: Average income from retirement accounts: $54,319; Average Social Security income: $23,602; Total: $77,921
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MARKET UPDATE - 05/29/2025 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 05/29/2025)
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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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