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Colorado - Thu. 07/03/25 |
A Free Business Publication from Alpine Bank
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NOTICE OF HOLIDAY CLOSURE FROM ALPINE BANK
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All Alpine Bank branches will be closed in observance of Independence Day on Friday, July 4, 2025. Have a safe and happy holiday. We invite you to use Alpine Online or the Alpine Mobile app for 24/7 banking access, even when we are closed. Learn more at the link below.
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COLORADO RIVER CONSERVATION BOARD TO HOST SHOSHONE PURCHASE HEARING
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As part of the deal proposed by the Colorado River District to purchase the water rights of the Shoshone Power Plant on the Colorado River from Xcel Energy, the Colorado River Conservation Board must decide by September whether to approve the new use of water right proposed by the Colorado River District. Four major Front Range water providers, Denver Water, Aurora Water, Colorado Springs Utilities and Northern Water, have said they do not oppose the purchase; however, they seriously question the river district’s calculations of how much water has been used historically under the rights. Under Colorado water law, that number will determine how much water must flow through the plant in the future.
After a special meeting on Tuesday, the Colorado Water Conservation Board agreed to hold a public meeting later this summer to hear the concerns of the Front Range utilities. The Colorado River District contends that it will maintain the status quo and will not use more water than has been used in the past and argues that disputes about the amount of water historically used under a water right should be settled in water court and consider the CWCB to be encroaching on the jurisdiction of water court.
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SURVEY OF BUSINESS CONFIDENCE IN Q3 SHOWS AN INCREASE BUT STILL LOW
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The Leeds Business Research Division at the University of Colorado Boulder’s Leeds School of Business conducts quarterly surveys of business leaders in Colorado about their expectations for the national economy, state economy, industry sales, profits, hiring plans and capital expenditures. The survey for the third quarter of 2025 showed some improvement over Q2 2025, with the Q3 score of 37.9 versus 31.9 reported last quarter. A score of 50 is considered neutral, meaning the index remains in negative territory as business leaders expressed concerns about tariffs and other federal policies. This marks the fifth-lowest level in the 23-year history of the LBCI. Panelists cited uncertainty, tariffs and other federal policies as the primary reasons for their outlook.
All six components of the index increased from Q2 to Q3 but still recorded negative perceptions (below an index value of 50). For the state economy, 66.1 percent of respondents were negative on the outlook, while 8.5 percent expected a moderate-to-strong increase and 25.4 percent were neutral. On the national level, 62.4 percent were negative on the outlook, 19 percent expected an increase and 18.5 percent were neutral.
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CDOT SUSPENDS WORK ON HIGHWAYS FOR JULY 4TH HOLIDAY WEEKEND
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AAA, Colorado officials and officials on the Western Slope are all advising motorists to be prepared for record numbers of travelers on Colorado roads over the July Fourth holiday. The Colorado Dept. of Transportation issued a release warning that traffic volumes on Interstate 70 mountain corridor and U.S. Hwy. 285 are expected to peak Thursday afternoon July 3 and continue through Sunday evening, July 6. CDOT will suspend all construction and maintenance work across the state starting at noon Thursday to help ease congestion and maximize safety. That includes the major I-70 Floyd Hill project between the Front Range and the Eisenhower-Johnson Memorial Tunnels.
While crews will not be actively working, motorists should still expect to drive through existing work zones with reduced speed limits. To avoid additional delays, transportation officials say drivers should remain alert and obey posted signage. The Fourth of July typically marks the start of above-average traffic in the mountains, with summer tourism continuing for the next six to seven weeks. Public transportation options like Bustang, Pegasus and Bustang Outrider offer alternatives to driving to many mountain areas during this busy period.
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YOUR FOURTH OF JULY BBQ COULD BE MORE EXPENSIVE THIS YEAR
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A survey by the American Farm Bureau Federation showed that the price of meat in Colorado is expensive ahead of the Fourth of July holiday. The survey found the price of ground beef and pork chops in Colorado was more expensive than other states. The price of chicken breasts, on the other hand, was cheaper than other states. State and national economists attribute the surge in beef prices to fewer cows nationwide, a result of more than a decade of drought that has withered food supplies. Drought exacerbated by climate change in recent years has led many cattle ranchers to thin the size of their herds, nowhere more so than in Colorado. The state’s beef cow population dropped by nearly 50,000 heads or 8 percent last year. It was the steepest loss in the country, according to an annual inventory report by the U.S. Dept. of Agriculture.
The price of two pounds of ground beef in Colorado was $14.41, a dollar more than the national average, according to the American Farm Bureau Federation market snapshot. Pork chops were even more expensive: Three pounds were $18.33, more than four dollars higher than the rest of the country. Potato chips, ice cream, potato salad and strawberries were also pricier in Colorado. Other Independence Day backyard staples, like hamburger buns, cheese, lemonade and pork and beans, were cheaper in Colorado than elsewhere.
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COLORADO SNOWSPORTS HALL OF FAME CLASS OF 2025
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On July 1, the Colorado Snowsports Hall of Fame announced the members of its Class of 2025. The annual induction ceremony will take place on Saturday, Sept. 27, 2025, at the state-of-the-art Vilar Performing Arts Center, located in the Beaver Creek Resort. Tickets for general admission start at $75, with all proceeds going to support the Colorado Snowsports Museum, a non-profit organization, and the State of Colorado’s official snow sports museum. Tickets are on sale now at snowsportsmuseum.org/event/2025-colorado-snowsports-hall-of-fame-celebration. The 140-member Hall of Fame Voting Panel, comprised of current Hall of Fame members, key snow sports industry representatives, snow sports resorts and the Hall's board of directors, selected these individuals as the Class of 2025:
- Alice Mckennis Duran: Athlete
- Wendy Fisher: Athlete
- Jon Kreamelmeyer: Sport Builder - Inspiration
- Bob Meserve: Sport Builder
- Trace Worthington: Athlete
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POPULAR, HEAVILY TRAVELED TRAIL IN BOULDER TO GET MAINTENANCE, IMPROVEMENTS
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Boulder Open Space and Mountain Parks, with financial assistance from the Boulder Open Space Conservancy, will undertake a multi-year project on Mount Sanitas, one of Boulder’s most distinctive and popular trails and landmarks. The main Mount Sanitas trail extends 1.3 miles from the trailhead to the summit with a rocky ascent of 1,323 feet, offering panoramic views of the Boulder Valley. The trailhead is less than a mile from the Pearl Street mall and its accessibility makes it extremely popular with more than 300,000 visitors annually.
The $1.1 million project will begin with repairs on the main Mount Sanitas trail, maintenance work at the summit, improving the East Ridge trail, which provides an alternative route to the summit, and working on undesignated trails created by visitors hiking off-trail. Future plans include building new trails and installing infrastructure around eight bouldering areas. No closures are anticipated during construction, but officials say intermittent delays may occur.
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WINDS SEND WILDFIRE ON NAVAJO LANDS OUT OF CONTROL
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A small fire reported by a Navajo Nation Police officer on Saturday burned about 200 acres eight miles southwest of Window Rock. Wind on Saturday, Sunday and Monday, caused the Oak Ridge Fire to explode to cover more than 9,800 acres, with zero containment, by Tuesday. Fifteen families living in the fire’s path had been evacuated, and others had been placed on pre-evacuation notice. Navajo Nation Council Speaker Crystalyne Curley said, “The Oak Ridge Fire is an emergency that is threatening our rangelands, public and residential structures, and livestock. We’re receiving reports of residents choosing to stay in their homes even as evacuation alerts intensify. We ask all community members to not act in haste and to prioritize their safety given the growing fire.”
The Complex Incident Management Team, made up of federal and state wildfire agencies including BIA, state of Arizona and state of New Mexico, took over management of the Oak Ridge Fire on Monday. There were about 420 fire personnel on the scene.
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EUROPE IS SUFFERING FROM PROLONGED RECORD HEAT
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Europe is blanketed by stifling, extreme heat. Wednesday, weather agencies across southern Europe issued alerts, warning of a third day of extreme temperatures. Wednesday is supposed to be the peak for France and Spain before the hazardous temperatures move into Belgium, Austria and Germany. This week, AEMET, Spain’s state meteorological agency, recorded temperatures that climbed above 109 degrees Fahrenheit, or 43 Celsius. The mercury reached 114.8 Fahrenheit, or 46 degrees Celsius, on Saturday in El Granado, in the southwest, which is a national record for June. Météo-France, the national weather service, issued the country’s highest alert on Wednesday for four regions in eastern France, where the highest temperatures were expected to be 36 to 39 degrees Celsius, or around 97 to 102 degrees Fahrenheit.
In Germany, the country’s weather service issued widespread heat warnings that remained on Wednesday. Temperatures were forecast to approach 40 degrees Celsius, or 104 degrees Fahrenheit, in parts of the west and northeast, including Berlin. In Austria, temperatures are forecast to increase on Wednesday, with highs between 28 and 36 Celsius, or between 82 and 97 Fahrenheit. But Thursday was expected to grow even hotter, with the mercury forecast to climb as high as 38 Celsius, and that prompted authorities to place southern Austria under a red warning for extreme heat stress.
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ROYAL TRAIN BEING DISCONTINUED IN COST-SAVINGS MOVE
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An official announcement from Buckingham Palace this week announced that the royal train was being discontinued in a cost-savings move. The royal train has been part of the royal family since 1869 and is a symbol of the British monarchy that links King Charles III with Queen Victoria, his great-great-great grandmother. In 1869, Victoria commissioned a collection of private rail cars for a royal train, including some that were decorated in 23-karat gold and blue silk. They were in service until the early 1900s. The royal train was used extensively during World War II, including by King George VI. Given the dangers of war and German bombing raids, the cars were made bulletproof, and the train had a 56-ton armor-plated roof.
But the latest accounts, for 2024-25, show the train only being used on two occasions, raising questions about maintenance and storage costs. The royal train will be taken around the UK before it is removed from service, after which it could be put on public display. The royal train consists of nine carriages, with different locomotives hired to pull them.
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TWO RIDERS FROM DURANGO IN THIS YEAR’S TOUR DE FRANCE
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The Tour de France will have its opening stage on Saturday, and this year’s race will feature two cyclists from Durango in the field of 184, with Sepp Kuss riding for Visma Lease-A-Bike and Quinn Simmons riding for Lidl-Trek. Some details of this year’s tour:
- The race will have 21 stages from July 3-27
- It will go counterclockwise around France and for the first time since 2020, every stage will be inside the borders of France
- There are 23 teams, with 8 cyclists each
- The 21 stages cover more than 2,000 miles
- There are 7 flat stages, 6 hilly stages, 6 mountain stages with 5 mountain finishes at Hautacam, Luchon-Superbagnères, Mont Ventoux, Courchevel Col de la Loze and La Plagne Tarentaise, and 2 time trials. There will be 2 rest days
- Other Americans in addition to Kuss and Simmons: Matteo Jorgenson – Visma Lease-A-Bike; Neilson Powless - EF Education–EasyPost; and Will Barta – Movistar
- All stages are streamed live on Peacock
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INTERNATIONAL TRAVELERS TO THE U.S. 2024
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The International Trade Administration’s National Travel and Tourism Office (NTTO) has updated its list of U.S. States and Cities Visited by International Visitors for 2024.
Top 5 U.S. States Visited
- New York
- Florida
- California
- Nevada
- Texas
Top 5 in percentage gain over 2023
- Vermont: 87.8 percent
- Idaho: 79.2 percent
- Wyoming: 58.1 percent
- South Carolina: 35.9 percent
- Alaska: 35.6 percent
Numbers for Colorado
- Total volume of international visitors 2024: 461,000
- Change in total numbers from 2023: -5,000
- Percentage change in total numbers: -1.1 percent
- U.S. ranking: No. 19
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MARKET UPDATE - 07/02/2025 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 06/26/2025)
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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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