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Colorado - Fri. 11/07/25 |
A Free Business Publication from Alpine Bank
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COLORADO CULTURAL SECTOR OUTPACES SPORTS, GENERATES $3.12 BILLION IN 2024
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Colorado’s cultural sector contributed a record $3.12 billion to the metro Denver economy in 2024, a 19.7 percent increase over 2022, according to the Colorado Business Committee for the Arts’ biennial study. Attendance at arts, culture, and science organizations reached 14.5 million, nearly three times the combined 4.9 million attendance at Rockies, Broncos, Nuggets, Avalanche, and Rapids games. The study found 14,466 jobs in the sector, up 6.8 percent, with $692 million generated from cultural tourism. While in‑person attendance remains 5 percent below 2019 levels, education outreach and youth programming hit record highs.
Total giving reached $286 million, up 34.1 percent from 2019, though federal funding dropped as pandemic relief ended. The Scientific and Cultural Facilities District distributed $85 million, its highest ever, and will face reauthorization in 2028. Statewide, cultural activity contributed $19.7 billion and 121,228 jobs in 2023, making Colorado’s cultural sector the fourth‑largest in the nation relative to GDP.
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DIA SEEKS TO PAY AIR TRAFFIC CONTROLLERS AS FAA ORDERS FLIGHT CUTS
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Denver International Airport officials are requesting a waiver from the FAA to use airport revenues to pay air traffic controllers working without wages during the 36‑day federal shutdown. The move comes as the Trump administration ordered a 10 percent reduction in flight capacity at 40 major airports starting Friday to maintain safety amid staffing shortages. DIA has avoided major delays so far, but officials warn impacts could grow as Thanksgiving travel nears. CEO Phil Washington said covering wages would reduce hardship on controllers, while the airport also launched a food and essentials pantry for 1,800 unpaid federal employees including TSA and Customs staff. DIA is one of the world’s busiest hubs with 82 million annual travelers.
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BRONCOS SUBMIT INITIAL BURNHAM YARD PLAN FOR NEW NFL STADIUM
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The Denver Broncos have filed a large development review preapplication with the city outlining early plans for a new privately funded stadium and entertainment district at Burnham Yard, targeting completion by the 2031 NFL season. The 38‑page document anticipates the review process lasting into spring, with building permits sought by 2027 and a site plan submitted by mid‑2026. Conceptual designs place a retractable‑roof stadium on the west side of the yard, away from nearby residences, with new roadways, expanded transit access at RTD’s 10th and Osage station, and on‑site parking. Plans also call for retail, dining, housing, and public spaces designed for year‑round use. The team pledged collaborative engagement with civic leaders and neighbors, highlighting Burnham Yard’s rail history by repurposing structures like a locomotive shop and gantry crane. Sasaki will lead the master plan and entitlement process.
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TESLA SHAREHOLDERS APPROVE ELON MUSK’S $1 TRILLION PAY PACKAGE
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Tesla shareholders voted overwhelmingly to approve a record compensation plan for CEO Elon Musk, granting him up to $1 trillion in stock awards if ambitious milestones are met over the next decade. More than 75 percent of votes supported the package, which could give Musk control of 25 percent of Tesla if the company reaches an $8.5 trillion market capitalization and achieves operational goals such as delivering 20 million cars, selling 1 million robots, and deploying 1 million robotaxis. The plan, divided into 12 tranches, was opposed by several proxy advisers and large institutional investors including CalPERS and New York City retirement systems, who criticized its “astronomical” scale. Supporters argued the package aligns Musk’s incentives with shareholders and motivates innovation in autonomous vehicles and humanoid robots. Musk, already Tesla’s largest shareholder with a 15 percent stake, had threatened to leave if the plan failed.
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BASALT SEEKS COMMUNITY INPUT ON WILLITS HOUSING & COMMUNITY SPACE PROJECT
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The town of Basalt will host a public open house on Thursday, Nov. 13 from 5 to 7 p.m. at the Hoffman Hotel to gather feedback on the proposed Willits Housing and Community Space project. Located on Lewis Lane, the 2.3‑acre parcel is being considered for affordable housing units ranging from studios to three‑bedrooms, along with a community center. Officials say the project addresses Basalt’s “most pressing challenge” of adding affordable housing while fulfilling goals of the 2020 Master Plan to provide diverse housing near commercial and transit hubs. The open house follows focus groups, neighborhood meetings, pop‑up sessions, and online surveys, with residents encouraged to continue sharing input at letstalk.basalt.net.
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FORMER NEW MEXICO CONGRESSMAN STEVE PEARCE NOMINATED FOR BLM DIRECTOR
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President Trump has nominated Steve Pearce, a former U.S. congressman from New Mexico, to lead the Bureau of Land Management in his second attempt this year to fill the post. Pearce’s nomination drew sharp criticism from the Center for Western Priorities, which cited his record of opposing public land protections, co‑sponsoring bills to weaken the Antiquities Act, and resisting the Organ Mountains‑Desert Peaks National Monument designation. The group noted his lifetime 4 percent score from the League of Conservation Voters and past efforts to sell off New Mexico lands. In contrast, the Western Energy Alliance praised Pearce as a strong advocate for multiple uses of public lands, citing his experience as a westerner and former chair of the Congressional Western Caucus.
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SOUTHWEST COLORADO DRIVERS WARNED OF INCREASED DEER & ELK ACTIVITY
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Colorado Parks and Wildlife and the city of Durango are cautioning drivers that mule deer and elk are more active during morning and evening commutes following the end of daylight saving time. CPW spokesman John Livingston said animals are migrating to lower elevations and bucks are entering rut, making them more aggressive and less aware as they chase does. Officials urge motorists to slow down, watch for movement or shining eyes at dusk and dawn, and avoid swerving to miss deer, noting seat belts cut crash injury risk by half. Residents are also advised to secure holiday decorations and yard items to prevent deer from entangling antlers, which can cause stress and impede survival. Dog owners should keep pets leashed and give wildlife space. Collisions should be reported to Colorado State Patrol by calling *277.
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COLORADO STATE PARKS TO OFFER FREE ENTRY TO VETERANS & MILITARY ON NOV. 11
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Colorado Parks and Wildlife will waive entry fees at all state parks on Tuesday, Nov. 11 for veterans, active‑duty service members, and National Guard personnel as a thank you for their service. Free admission requires proof of military status, while other fees such as camping reservations, boat and off‑highway vehicle registrations, and hunting or fishing licenses remain in effect. Vehicles displaying Colorado Disabled Veteran or Purple Heart license plates already receive free year‑round entry to state parks. The Veterans Day program is part of CPW’s ongoing effort to honor military communities while encouraging outdoor recreation across the state.
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CDOT RETIRES WORLD WAR II ARTILLERY FOR AVALANCHE CONTROL ON I‑70
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The Colorado Dept. of Transportation has replaced its longtime use of World War II‑era Howitzers with a new Wyssen Avalanche Control system on Mount Bethel, marking a major shift in how avalanches are managed along the busy I‑70 corridor. The remote towers release 11‑pound explosives suspended above the snow, allowing crews to trigger slides safely and efficiently, often before dawn and outside peak ski traffic hours. Officials say the technology reduces highway closures and improves safety for drivers, while also protecting workers from the risks of artillery use. CDOT and the Colorado Avalanche Information Center monitor more than 500 avalanche paths statewide, with 278 requiring regular control. The Howitzer will continue in limited use in the San Juan Mountains, but the Army has encouraged transportation departments to phase out artillery in favor of remote systems.
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VAIL TIGHTENS RULES ON TRUCK DELIVERIES IN VILLAGE CORE
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Vail has approved new amendments to its loading and delivery ordinance to curb violations by large trucks in pedestrian zones. Police Chief Ryan Kenney told council that companies were “getting creative” in skirting rules, prompting clearer definitions of the “village core” boundaries in Vail and Lionshead. The ordinance now requires deliveries to occur only in designated docks or loading areas, with boundaries set south and east of South Frontage Road, west of Vail Valley Drive, and north of Mill Creek and Forest Roads. Council also clarified definitions for golf cars and low‑speed electric vehicles, permitting them in specific areas near Ford Park. Separately, Vail Hotel Partners received approval to pursue a formal loading berth at the Grand Hyatt Vail along Westhaven Drive, replacing sidewalk and roadway drop‑offs with a safer, more efficient system.
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STEAMBOAT SKI PATROL UNION TO HOST FUNDRAISER NOV. 29
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The Steamboat Professional Ski Patrol Union will hold “The First Chair Fundraiser” at 8 p.m. on Saturday Nov. 29 at Old Town Pub and Restaurant to support patrollers facing injury, hardship or emergency. The event will feature local bluegrass band The Flattops and a silent auction, with proceeds aimed at building a fund for unexpected needs and eventually scholarships for training opportunities. Fundraising coordinator Amanda Kornutiak encouraged community participation, calling it “a great way to start off the season and give back to the people who keep you safe.” The union hopes the annual event will strengthen ties between residents and the patrol team that safeguards skiers each winter.
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BRECKENRIDGE WINTER PREVIEW HIGHLIGHTS TOURISM FORECAST & NEW RESORT EVENTS
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Breckenridge’s annual winter preview drew its largest turnout yet, with tourism officials reporting early bookings up 1 percent over last year at 93,118 guest nights as of Nov. 2. December reservations are up 17 percent year over year, while February shows the sharpest dip due to fewer group trips, and April is down 10 percent but may rebound. Lodging revenue is projected to rise 5 percent to $53.9 million, with average nightly rates up 4 percent to $579, though average stay length is expected to drop to 4.8 nights. Resort updates include upgraded snowmaking guns with weather stations, a pilot text alert program for rope drops, pancake breakfasts at Vista Haus for uphill skiers, and relocation of free skier parking to the McCain Property. Breckenridge will also host the 40th Snowboarding World Championships April 17–19, featuring a hand‑dug half pipe and rail jam celebrating the sport’s legacy.
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WARM WEATHER SLOWS SNOWMAKING AT COLORADO SKI RESORTS, BUT LONG-TERM FORECAST BRINGS HOPE
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Unseasonably warm and dry conditions have forced Colorado ski resorts to halt snowmaking for extended periods, with wet-bulb temperatures above the 26-degree threshold needed for efficient production. Despite the lack of major storms, Keystone, Arapahoe Basin, and Winter Park opened in October, while Breckenridge and Copper Mountain remain on track to open Nov. 7 and Loveland Nov. 8. Climate experts note Colorado’s snowpack is just 14 percent of median, ranking in the 3rd percentile, with record highs set in Leadville and Grand County. Meteorologists expect limited terrain expansion over the next 10 days but see potential for a shift around Nov. 15, when southern mountains like the San Juans could receive more snow. Resort officials emphasize patience, citing upgraded snowguns and overnight production windows as key to maintaining progress.
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NOVEMBER SKY OFFERS FOUR METEOR SHOWERS OVER COLORADO
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Coloradans willing to brave chilly nights this month can witness four distinct meteor showers. Astronomy guide Mark Laurin, known as Astro Mark, notes that the end of daylight saving time allows stargazing to begin earlier. He advises dressing warmly, avoiding light pollution, and turning off cell phones to help eyes adjust. Even a few minutes outside can provide a rewarding view of the night sky.
- Northern Taurids (Nov. 12 peak) ~5 meteors per hour; visible earlier in the evening; radiant near Aldebaran and the Pleiades in Taurus; best viewing before moonlight interference.
- Leonids (Nov. 6–30, peak Nov. 17) Up to 15 meteors per hour; debris from comet Tempel‑Tuttle; radiant above east‑northeast horizon around 11 p.m.; strongest in early morning hours.
- Orionids (Nov. 13–Dec. 6, peak Nov. 28) ~20 meteors per hour; radiant in Orion rising at 8:30 p.m.; quarter moon may reduce visibility.
- Alpha Monocerotids (Nov. 15–25, peak Nov. 21) ~1 meteor per hour; radiant in Canis Minor; best viewing late Nov. 20 into dawn Nov. 21; waxing crescent moon offers minimal interference.
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FAA ORDERS 10 PERCENT FLIGHT CUTS AT 40 MAJOR U.S. AIRPORTS
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The Federal Aviation Administration announced Thursday that 40 high‑volume airports will see flight capacity reduced by 10 percent beginning Nov. 7, citing staffing shortages as air traffic controllers continue working without pay during the federal shutdown. Transportation Secretary Sean Duffy said the phased cuts will begin at 6 a.m. local time Friday, with airlines reaching the full reduction by next week. The list includes the nation’s busiest hubs for passenger and cargo traffic, as well as regional airports with heavy private jet activity.
- Anchorage International (ANC)
- Atlanta Hartsfield‑Jackson International (ATL)
- Boston Logan International (BOS)
- Baltimore/Washington International (BWI)
- Charlotte Douglas International (CLT)
- Cincinnati/Northern Kentucky International (CVG)
- Dallas Love Field (DAL)
- Ronald Reagan Washington National (DCA)
- Denver International (DEN)
- Dallas/Fort Worth International (DFW)
- Detroit Metropolitan Wayne County (DTW)
- Newark Liberty International (EWR)
- Fort Lauderdale/Hollywood International (FLL)
- Honolulu International (HNL)
- Houston Hobby (HOU)
- Washington Dulles International (IAD)
- George Bush Houston Intercontinental (IAH)
- Indianapolis International (IND)
- New York John F. Kennedy International (JFK)
- Las Vegas Harry Reid International (LAS)
- Los Angeles International (LAX)
- New York LaGuardia (LGA)
- Orlando International (MCO)
- Chicago Midway (MDW)
- Memphis International (MEM)
- Miami International (MIA)
- Minneapolis/St. Paul International (MSP)
- Oakland International (OAK)
- Ontario International (ONT)
- Chicago O’Hare International (ORD)
- Portland International (PDX)
- Philadelphia International (PHL)
- Phoenix Sky Harbor International (PHX)
- San Diego International (SAN)
- Louisville International (SDF)
- Seattle/Tacoma International (SEA)
- San Francisco International (SFO)
- Salt Lake City International (SLC)
- Teterboro (TEB)
- Tampa International (TPA)
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MARKET UPDATE - 11/06/2025 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 11/06/2025)
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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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