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Colorado - Fri. 11/14/25 |
A Free Business Publication from Alpine Bank
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VERIZON TO CUT ABOUT 15,000 JOBS, SHIFT STORES TO FRANCHISES
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Verizon Communications will eliminate roughly 15,000 positions in its largest workforce reduction ever, primarily through layoffs set to occur within the next week. The company also plans to transition about 200 stores into franchised operations, moving employees off its payroll. New CEO Daniel Schulman, formerly of PayPal and Virgin Mobile USA, said the cuts are part of an aggressive effort to reduce costs and reverse customer losses, including three consecutive quarters of declines in postpaid phone subscribers. Verizon, which had about 100,000 employees as of February, faces mounting competition from AT&T and T-Mobile, both of which have grown subscriber counts. Analysts caution Schulman’s turnaround plan will be difficult in a mature telecom market, though cost reductions and streamlining legacy businesses are expected to be central to the strategy.
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NO DEAL ON COLORADO RIVER AS STATES MISS FEDERAL DEADLINE
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The seven states that share the Colorado River failed to meet a Nov. 11 deadline set by the federal government to agree on future reservoir operations and water cuts, leaving management of supplies for 40 million people uncertain. Upper Basin states — Colorado, New Mexico, Utah and Wyoming — remain at odds with Lower Basin states — California, Arizona and Nevada — over how to share shortages after current guidelines expire in 2026. Environmental groups criticized the lack of transparency and progress, noting the river has lost 20 percent of its flow since the 20th century average due to climate change and rising demand. Arizona leaders argue cuts must be shared basinwide, citing national security concerns tied to the state’s semiconductor industry, while Colorado insists reductions must be voluntary. Federal officials warn they may impose measures if no agreement is reached, with a draft environmental impact statement expected by year’s end.
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COLORADO ATHLETIC DIRECTOR RICK GEORGE TO STEP DOWN AFTER 2025-26 SEASON
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Rick George announced Nov. 13 he will leave his role as University of Colorado athletic director at the end of the 2025-26 academic year, transitioning into an advisory position as special advisor to the chancellor and director of athletics emeritus. George, 65, has served since July 2013, becoming the third longest tenured AD in school history. His tenure included leading a $100 million fundraising campaign for the UCHealth Champions Center, guiding CU through the COVID 19 pandemic, and overseeing the school’s move from the Pac 12 to the Big 12 Conference. He also created programs supporting student athlete health, academics, and career development, and hired high profile coaches including Deion Sanders. George’s contract runs through June 2027, but he said he wanted to give Chancellor Justin Schwartz time to find new leadership while remaining connected to CU Athletics and his family.
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SNAP PAYMENTS TO RESUME IN COLORADO AS GOVERNMENT REOPENS
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Colorado officials confirmed Nov. 13 that full Supplemental Nutrition Assistance Program benefits will be restored after the 43-day federal shutdown ended. Roughly 5 percent of the state’s 600,000 recipients had already received November payments under a court order before the Supreme Court blocked the ruling. The funding package signed by President Trump covers the USDA through Sept. 30, 2026, guaranteeing full SNAP payments for November. State officials urged residents needing immediate help to contact local food banks and community agencies, with resources available through 211colorado.org and feedingcolorado.org.
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COLORADO LAUNCHES HOME ENERGY-EFFICIENCY REBATE PROGRAM
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Colorado announced Nov. 13 a $54 million rebate program to help income-qualified residents upgrade to energy-efficient appliances, funded through the 2022 Inflation Reduction Act. Participants can receive up to $14,000 in rebates for electric kitchen ranges, heat pumps, water heaters, and necessary wiring. The initiative aims to cut emissions and improve household health, with studies showing gas stoves leak methane and emit benzene comparable to second-hand smoke. Applicants must verify income online before working with certified contractors, who will subtract approved rebates from project costs. The Colorado Energy Office will oversee the program, with 45 contractors already certified and audits planned to prevent price inflation. Officials say the rebates are part of the state’s broader goal to reach net-zero greenhouse gas emissions by 2050.
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PITKIN COUNTY REVIEWS IMPACT OF SHORT-TERM RENTALS
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Pitkin County commissioners received initial findings Nov. 13 from a study on short-term rentals, defined as stays under 30 days. Researchers reported 73 active licenses, mostly concentrated in Aspen and along Highway 82, with about 15 percent in the Crystal River Valley. Occupancy averaged 30 percent of available days, and nightly rates ranged from hundreds of dollars to as much as $60,000, with a median of $3,500 in winter and $2,200 in summer. Licensing rules requiring proof of prior rentals reduced the number of permits in 2025. Property managers surveyed described guests as upscale and conscientious, with limited neighborhood impacts. Commissioners debated whether to expand access to new applicants, noting potential benefits but also risks of speculative home purchases. The final report is expected this winter.
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NATURAL GROCERS TO RELOCATE INTO FORMER SUTHERLANDS BUILDING
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Natural Grocers will move next month into the former Sutherlands building west of Mesa Mall, in Grand Junction, with a grand reopening planned though details are not yet announced. The site at 2405 Patterson Road, once a home improvement outlet until 2019, has been under renovation for several months. Equity Ventures Commercial Development owns the property, and Rogue Architecture of Denver is overseeing the $740,000 remodel, which will convert 15,539 square feet of the 58,336-square-foot building for the grocery store. Planning documents indicate the structure will be divided into three spaces, with future tenants not yet named. The move follows earlier, unrealized plans to demolish the building for restaurants including a Cracker Barrel.
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COLORADO PARKS & WILDLIFE DRAFTS BOOK CLIFFS BISON PLAN
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Colorado Parks and Wildlife has begun developing a management plan for wild bison migrating into the state from Utah’s Book Cliffs herd, following Gov. Jared Polis’s signing of Senate Bill 25-053. The law, effective Jan. 1, 2026, establishes bison as both wildlife and domestic animals, requiring CPW to set population objectives, prevent game damage, and manage animals outside designated zones. Initial steps include habitat assessments of food, water, and competition with livestock and horses. The plan will involve stakeholder input from Tribal nations, local producers, landowners, and the public, with a draft open for comment before presentation to the CPW Commission. Proposed regulations include differentiating wild and domestic bison, future regulated hunting, and compensation for damage. Prior to the bill, Book Cliffs bison entering Colorado were unprotected under domestic classification.
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MOUNTAIN VILLAGE JOINS STATE ACCESSIBLE TRAVEL PROGRAM
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The Town of Mountain Village has joined the Colorado Tourism Office’s Accessible Travel Program, a statewide initiative partnering with Wheel the World to make destinations more inclusive for travelers with disabilities. Entering its second year, the program provides accessibility assessments, training for hospitality professionals, marketing tools and digital badges for verified businesses. Mountain Village will collaborate with the Telluride Tourism Board and Telluride Adaptive Sports Program to expand accessible amenities and outreach. Officials emphasized that accessibility is essential, not optional, aligning with Colorado’s 10-year Destination Stewardship Strategic Plan focused on sustainability, equity and inclusivity. The program now includes Mountain Village, Snowmass, Aspen Chamber Resort Association, Visit Durango and Visit Estes Park, joining earlier participants such as Glenwood Springs, Pueblo and Beaver Creek.
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DURANGO ADOPTS STATE WILDFIRE RESILIENCY CODE, COSTS TO RISE 20%
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Durango City Council approved state mandated building and property code amendments Nov. 13 that will raise costs for new projects and additions by an estimated 20 percent in areas such as Three Springs. The Colorado Wildfire Resiliency Code Board adopted the standards in July, requiring municipalities to enforce them by July 2026; Durango will begin April 1. The code addresses wildfire hazard classifications, construction materials and defensible space zones around structures. Chapter 4 mandates fire resistant materials for walls, roofs, gutters and ventilation, while Chapter 5 requires vegetation removal and spacing of tree crowns. Much of downtown Durango is exempt, but impacted areas include Three Springs, north of 32nd Street, County Road 251, Goeglein Gulch, Jenkins Ranch and west of the U.S. 160/550 intersection. Builders expressed concern over aesthetics and costs, though officials emphasized safety in the wildland urban interface.
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VAIL OPENS FOR 2025-26 SEASON WITH LIMITED TERRAIN
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Vail Resort began its winter season Nov. 14 with two trails and beginner terrain served by both gondolas, relying on machine made snow amid sparse natural accumulation. Skiers can access Ramshorn, an intermediate run, and Swingsville, rated easy, from the 11,250 foot summit down to Mid Vail, where downloading is required to exit. Lessons are available for beginners, and lifts will operate daily from 9 a.m. to 3:30 p.m. with complimentary strudel. Meteorologists forecast a storm Sunday into Monday bringing 5 to 10 inches of snow in southern Colorado mountains and 2 to 6 inches elsewhere, with an active pattern possibly continuing into Thanksgiving week. Vail is among seven Colorado ski areas now open, joining Keystone, Breckenridge, Arapahoe Basin, Loveland, Copper Mountain, and Winter Park.
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U.S. MINT PRESSES FINAL PENNIES AS PRODUCTION ENDS AFTER MORE THAN 230 YEARS
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The U.S. Mint in Philadelphia struck the nation’s last pennies Nov. 12, ending production of the 1 cent coin first introduced in 1793. Officials cited rising costs and declining use, noting that most pennies sit unused in jars or drawers. Billions remain in circulation and will stay legal tender, but new ones will no longer be made.
- Cost: Each penny costs nearly 4 cents to produce
- Savings: Ending production expected to save taxpayers $56 million annually
- Ceremony: Treasurer Brandon Beach pressed the final coin, later placed on display for journalists
- Auction: Last few pennies will be auctioned off
- History: The half cent, discontinued in 1857, was the last U.S. coin previously retired
- Culture: Workers applauded during the final pressing, marking the end of a coin embedded in American life
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GOVERNMENT REOPENS AFTER RECORD 43-DAY SHUTDOWN
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The U.S. government reopened Nov. 13 after President Trump signed legislation funding agencies through Jan. 30, ending the longest shutdown in history. Federal workers will be reinstated after shutdown related firings and will receive back pay. Agencies are resuming operations, and public services are gradually returning. Yet the scale of disruption — from payroll delays to air travel bottlenecks and food assistance gaps — underscores the lingering impact of the shutdown.
- Federal workers: Paychecks begin arriving within days; legislation reverses thousands of firings and guarantees back pay
- Agencies: Most reopen promptly, but face 40+ days of accumulated work; OMB issued reopening checklists to manage backlogs
- Air travel: FAA cut flights at 40 airports; delays expected to ease by Thanksgiving, though staffing shortages persist
- SNAP benefits: 42 million recipients affected; Rhode Island court ruling forced partial November payments before Supreme Court pause; funding now restored nationwide
- Parks & museums: Smithsonian and National Zoo reopening; national parks assessing damage including collapsed stone wall at Gettysburg and graffiti at Arches
- Morale: White House memo urged agencies to process payroll swiftly and consider employee morale impacts after prolonged uncertainty
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MARKET UPDATE - 11/13/2025 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 11/13/2025)
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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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