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Colorado - Mon. 06/09/25 |
A Free Business Publication from Alpine Bank
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COLORADO DMV WARNS OF FRAUDULENT TEXTS
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The Colorado Division of Motor Vehicles has issued a warning to Coloradans that there is a new wave of fraudulent texts that "impersonate the Colorado DMV." According to the DMV, scammers "are now directly impersonating the DMV, falsely claiming recipients have unpaid tickets and threatening severe consequences such as prosecution, suspension of vehicle registration, and revocation of driving privileges. These claims are entirely false and designed to intimidate individuals into immediate compliance." These deceptive text messages and emails are crafted to appear as official communications from the Colorado DMV, and, according to DMV, the messages typically:
- State they are from the "Colorado DMV" or a similar official-sounding entity
- Allege outstanding unpaid tickets or violations
- Threaten imminent legal action, such as prosecution
- Warn of pending suspension of vehicle registration and/or driving privileges
- Contain a link to a fake website to "resolve" the issue or make a payment
The DMV urges:
- Do NOT click on any links
- Do NOT share any personal or financial information
- Do NOT reply to the message
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SAFEWAY WORKERS VOTE TO STRIKE
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Safeway workers in the Denver metro region, which includes stores in Boulder, Louisville, Brighton, Broomfield, Castle Rock, Conifer, Evergreen, Idaho Springs and Parker, voted overwhelmingly to strike in votes held Wednesday and Thursday. The United Food & Commercial Workers Local 7 announced the results late Thursday night. A date for the strike to begin has not yet been set, but after the Denver region vote, workers in other locations, Estes Park, Fountain, Salida, Vail, Fort Morgan, Pueblo and Grand Junction also voted to authorize a strike.
Safeway is owned and operated by Albertsons, which recently appointed Susan Morris as its new CEO. Morris began her career in Denver when she was 16 as a customer service clerk for the company. The company has 105 stores in Colorado, and only regions that authorized a vote and unionized stores can be affected by a strike. Most of the smaller towns that voted to strike only have one Safeway store in its area, but Grand Junction and Boulder each have three stores and Denver has 14.
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LOW-COST CARRIER SOUTHWEST OPENS LARGE CARGO FACILITY AT DIA
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Southwest Airlines is known for its passenger service, and the Dallas-based airline’s largest operation is Denver International Airport, with 300 daily flights to 95 destinations. On Thursday, Southwest added another dimension to its service at DIA, with a ceremony opening a 27,000-square-foot, $28 million cargo facility on 75th Avenue southeast of the DIA terminal. The cargo facility serves as a replacement for Southwest's 16,000-square-foot cargo building, which processes and transports goods that are shipped by customers and businesses other than passenger luggage.
In addition to 11,000 more square feet of space, the new facility is better equipped for shipments with features like larger freezers and a total of seven bay doors versus two. Earlier this year, Southwest opened a 23,000 square-foot space just south of DIA that will serve as the training facility for a majority of its 6,000 Colorado-based employees. Within the next few weeks, Southwest will have the grand opening of its $90 million, 107,000-square-foot general use building that the airline will use to stock snacks, beverages and other items for its flights.
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MAJOR K.C. AND DENVER ARCHITECTURE FIRMS MERGE
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Fentress Architects, the second largest architecture firm in Denver, the firm that designed the iconic terminal at Denver International Airport, and the expansion and renovation of the Denver Art Museum, has been acquired by Kansas City-based Populous, an architecture and design firm specializing in sports and entertainment venues. The announcement was made Friday, and financial terms of the deal were not made public. Fentress Architects will rebrand as Fentress Studios, a Populous Company. Fentress Studios is expected to retain all 110 Fentress employees, most of whom are based in Denver. The company’s office at 421 Broadway will remain.
Populous’ local architecture, design, interiors, graphics and branding teams will move into Fentress’ space. Populous will keep its office at 1630 Stout St. to house its event planning team, which works on the World Cup, the Major League Baseball All-Star game, NFL’s international games and the Super Bowl. Over the last 40 years, Populous has designed more than $60 billion in projects. The firm’s work ranges from the Sphere in Las Vegas to the Buffalo Bills stadium and Kai Tak Sports Park in Hong Kong. Locally, the firm is working on the Denver National Women's Soccer League team's planned stadium and temporary practice facility.
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U.S. ADDS 139,000 JOBS IN MAY, UNEMPLOYMENT RATE HOLDS STEADY AT 4.2%
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The U.S. Dept. of Labor Friday reported the U.S. added 139,000 jobs in May. That is higher than the 125,000 projected by economists. The unemployment rate, which is based on a separate survey from the jobs figures, held steady at 4.2 percent. However, the overall jobs picture, because of revisions to earlier monthly numbers, was much weaker earlier this year than originally thought. Employers added a combined 95,000 fewer jobs in March and April than previously estimated. The revised April jobs number was 147,000, down from the 177,000 reported a month ago. Analysts indicate companies are moving cautiously, reluctant to lay people off, but also leaving jobs unfilled.
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OPPORTUNITIES TO SEE, CELEBRATE AND ADOPT WILD HORSES
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This summer there will be two opportunities on the Western Slope for people to get information and adopt wild horses. On June 25-28, at the Mesa County Fairgrounds in Grand Junction, Colorado Mustang West will host its first Mustang Summit & Symposium with speakers and panels on topics such as advocacy, horse care and community, along with the EQUUS International Film Festival and the Art of the Mustang fair juried equine art show. The highlight will be an auctioning of wild horses on June 28. Most events are free, but the film festival and symposium require tickets: $15 online; $20 at the gate. Complete schedule and information at themustangsummit.com/colorado.
This year’s annual Meeker Mustang Makeover is scheduled for Aug. 22-23 at the Rio Blanco County Fairgrounds in Meeker. This year 32 trainers, both adults and youths, are accepting the challenge to prepare wild horses over 120 days for a finale where the mustangs are showcased and offered for adoption. A horse training clinic will be held June 14-15 at the fairgrounds, featuring highly regarded trainers Bryan Neubert and Steve Mantle. While the event is intended to help this year’s contestants in the Meeker Mustang Makeover, members of the public can audit the training event for $25. More information on the Meeker Mustang Makeover and the upcoming clinic may be found at meekermustangmakeover.org and MMMBackonTrack.eventbrite.com.
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REMOTE, 2,000-ACRE RANCH ON UTAH BORDER FOR SALE FOR $8.8 MILLION
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A spectacular, remote ranch with a storied past, has been listed for sale by Watkins Ranch Group of LIV Sotheby’s International Realty for $8.8 million. The Sinbad Ranch is only 17 miles from the Gateway Canyons Resort and Spa, in a remote canyon sitting on the Montrose County – Mesa County line, bordering the Utah state line. Edged by the towering cliffs of Sewemup Mesa and the Manti-La Sal National Forest, it is surrounded by thousands of acres of public land. With its primitive setting of canyons, mesas and mountain it is a prime big game hunting area enhanced by three natural springs, a private lake, and the only year-round water in the Sinbad Valley, it draws and holds big game like few others. The Main House features three bedrooms and two bathrooms on the main floor, with a finished basement. A separate Caretaker’s Home adds flexibility for staff or extended stays.
Sinbad Ranch supports a 100-head cattle operation with a 54-acre pivot-irrigated alfalfa field and strong grazing rights. Infrastructure includes perimeter and cross fencing, ranch roads, livestock facilities, storage buildings, and all equipment. It has been owned and preserved by the same family for over 40 years. The rich history of the ranch includes ties to early Native American tribes, pioneers, and cattle ranchers. It was a stagecoach stop and a hideout for outlaws like the McCarty Gang. More information is available at watkinsranchgroup.com/property/sinbad-ranch-mesa-colorado/83161.
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GJ AIRPORT RUSHING SOLAR PARKING LOT PROJECT BEFORE LOSS OF CREDITS
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The Grand Junction Regional Airport is moving quickly to start its project to cover a portion of its parking with solar panels in order to be able to utilize federal tax credits that would be removed if the large federal funding bill making its way through Congress passes. Grand Junction Mayor Cody Kennedy reported to the city council last week that a significant portion of the project costs would qualify for a Clean Energy Investment Tax Credit. That tax credit is eliminated in the One Big Beautiful Bill Act, which has already passed the House of Representatives. The Airport Authority board approved the purchase of the solar panels early in order to expend enough of the project budget to qualify for the tax credits if they are removed by Congress.
According to the requirements, construction must begin before Dec. 31, 2025 to qualify for the credit, however, with the proposed language in the ‘One Big Beautiful Bill Act’ (the Act), projects that do not begin construction within 60 days of the enactment of the Act would not be eligible if the Act is passed by the Senate." The solar project will cover about 100 spaces and those spaces, with the cover, would be offered as a "premium parking project." The solar panels would generate enough power for the airport's entire usage.
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PAVING, ROCK WORK WILL CAUSE DELAYS ON HWY. 550 DURANGO TO SILVERTON
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The Colorado Dept. of Transportation issued a release advising motorists that crews will be conducting chip-seal operations on U.S. Hwy. 550 between Durango and Silverton on Monday, June 9 and Tuesday, June 10. CDOT said motorists will encounter two work zones that will require full stops and up to 15-minute delays between 7:30 a.m. and 5 p.m. Crews will be performing surface treatments along a 6-mile segment of U.S. 550 between mile points 49 to 55 north of Purgatory Ski Area. A pilot vehicle will signal when motorists entering onto U.S. 550 from driveways and access roads can proceed.
CDOT is also planning to perform rockfall mitigation and retaining wall replacement one mile north on Coal Bank Pass between mile points 56 and 60 between 7 a.m. and 7 p.m. Mondays through Fridays with additional work on Saturdays through October. “Motorists should plan for full stops, single-lane traffic guided by a temporary traffic signal and additional delays of up to 20 minutes,” CDOT said. “Traffic impacts for this project will continue until the anticipated project completion in late October.”
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WALL STREET JOURNAL HIGHLIGHTS FOUNDER OF BOOM SUPERSONIC, BLAKE SCHOLL
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In the weekend edition of the Wall Street Journal, there is a feature story on Blake Scholl, founder of Boom Supersonic, the Denver-based startup that is developing a supersonic airliner. The focus of the story is how Boom plans to overcome the failures, notably the financial failures, of the Concorde, which was grounded in 2003. Blake Scholl is a former Amazon software engineer who is a self-taught aviation developer. He left Amazon in 2006 and worked in other software companies including as a mid-level executive at Groupon. He founded Boom in 2014 from his basement when he was living in Silicon Valley. He moved to Denver a year later and set up Boom’s first hangar at Centennial Airport. He assembled his staff from other aerospace startups and small aviation companies.
Boom was designed from carbon-fiber composite materials not in wide use when Concorde was developed. Engineers used digital simulations rather than a physical wind tunnel to create the plane’s aerodynamic design. Boom’s Overture has a needle-nosed design similar to the Concorde’s. It relies on external cameras to ensure the pilots’ view. To resolve one of the major concerns related to supersonic flight, namely the ground shaking sonic boom, the ironically named Boom, plans to quiet the sonic boom using a technique called Mach cutoff. In addition, the business model for Boom is daily round-trip trans-Atlantic flights that will not have extended travel over land. Scholl has many doubters but remains unfazed. He blames the lack of supersonic travel on an aerospace industry dominated by a pair of entrenched players, Boeing and Airbus, unwilling to shake up long-held business models.
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COLORADANS RANK HIGH IN AVERAGE HOURLY EARNINGS
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The U.S. Bureau of Labor Statistics released a report on private average hourly earnings in the 50 states and Washington, D.C., along with the average weekly earnings and the average number of hours Americans work per week. The full table of results is available at bls.gov/charts/state-employment-and-unemployment/average-hourly-earnings-and-weekly-hours-and-earnings-by-state.htm. The figures were calculated through April 2025, and the average earnings per hour for Coloradans was $39.10, fifth highest in the country. The average hourly worker in Colorado made $1,294.21 per week, also fifth highest. The average hourly-paid worker in the state worked 33.1 hours per week, the 43rd most in the U.S.
The 10 highest average hourly earnings in the U.S.:
- Washington, D.C., $52.25
- Massachusetts, $42.21
- Washington, $41.61
- California, $40.69
- Colorado, $39.10
- Minnesota, $39.04
- New York, $38.50
- Connecticut, $38.43
- Hawaii, $37.84
- New Jersey, $37.68
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MARKET UPDATE - 06/06/2025 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 06/05/2025)
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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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