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Colorado - Wed. 02/25/26 |
A Free Business Publication from Alpine Bank
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AMERICAN TEQUILA SALES SLUMP PROMPTS DIAGEO TO CUT DIVIDEND IN HALF
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Diageo said it is cutting its dividend by about 50 percent after lowering its sales and profit outlook, citing pressure on U.S. consumers and a sharp slowdown in spirits demand, particularly tequila. The company now expects organic sales growth of 2 percent to 3 percent for the fiscal year, down from earlier guidance of flat to slightly lower growth, with operating profit growth expected to be flat to low single digits. In the first half of the fiscal year, operating profit before exceptional items fell 2.8 percent to $3.26 billion, while organic sales also declined 2.8 percent. U.S. spirits sales dropped 9.3 percent, with tequila net sales plunging 23.1 percent, reflecting affordability concerns and competition from lower‑priced alternatives. Weakness in China, where baijiu sales fell 42.3 percent, offset stronger results in Europe and other regions. Diageo’s dividend will fall to 20 cents from 40.5 cents last year, sending shares down about 6 percent.
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WHY 6,000 TREES WERE REMOVED FROM CHATFIELD STATE PARK AFTER RESERVOIR LEVELS ROSE
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Crews at Chatfield State Park have removed about 6,000 dead cottonwood trees over the past two winters after prolonged high-water levels inundated large areas of the reservoir, killing vegetation. The die off followed completion of the Chatfield Reallocation Project, which raised the reservoir’s maximum level by 12 feet to allow additional water storage for Front Range municipal and agricultural use. Water reached the new full level in May 2023 after heavy rainfall and remained high through 2024, exceeding what cottonwoods can survive. Most removals occurred on the west side of the park, with additional dead trees still standing near Plum Creek. Some dead trees were left temporarily for bird habitat. More than 100,000 trees and shrubs were planted above the new high-water line to offset losses.
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DENVER TO END FLOCK SAFETY DEAL, PROPOSE AXON AS NEW LICENSE PLATE CAMERA PROVIDER
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Denver Mayor Mike Johnston announced plans to end the city’s contract with Flock Safety and replace it with a one-year, $150,000 agreement with Axon, citing growing concerns about Flock’s practices and public backlash. Critics objected to Flock’s nationwide database and reports that ICE accessed its data during President Donald Trump’s mass deportation campaign. Johnston said Axon offers stronger security, no national database, and a shorter 21-day data retention period. Images would focus only on vehicles and license plates, not faces, and ICE access would be barred. Some City Council members remain concerned about collecting data on drivers not suspected of crimes. Police say license plate data aided about 40 percent of homicide investigations last year and helped recover more than 400 stolen vehicles. The Flock contract ends March 31, and Johnston plans to seek council approval for the Axon deal.
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METRO MOVES: NEW EXECUTIVE TAPPED TO HELP GROW IKON PASS
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Alterra Mountain Co. has hired David Flueck as its new chief customer officer and president of the Ikon Pass, tasking the former Marriott International executive with leading customer engagement, sales and marketing strategy for the Denver-based ski resort company. Flueck, who previously oversaw the creation of Marriott’s Bonvoy loyalty program, will focus on expanding the Ikon Pass and positioning it as a gateway to year-round mountain experiences across Alterra’s portfolio, which includes Aspen Snowmass, Steamboat, Winter Park, Copper Mountain and Arapahoe Basin. The appointment was announced as part of the Denver Gazette’s Metro Moves roundup, which also reported that Trammell Crow Co. named Megan Kranichfeld as market lead for its Denver office and that Xcel Energy appointed Rob Cain as senior vice president and chief technology officer to oversee modernization, cybersecurity and artificial intelligence initiatives.
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COLORADO FINES CHEVRON SUBSIDIARY $1.7 MILLION OVER 2025 WELD COUNTY WELL BLOWOUT
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State regulators have fined Chevron subsidiary Noble Energy $1.7 million for a rare oil well blowout that contaminated about 7 square miles of Weld County in April 2025, forcing a school closure and prompting a university-led toxins study. Under a consent agreement with the Energy and Carbon Management Commission, Chevron will receive a 10 percent settlement discount and pay $1.53 million, while continuing cleanup of roughly 300 contaminated parcels at its own expense. The Bishop well spewed oil, water and sand for four days, releasing about 20,000 barrels of produced water and 5,000 barrels of oil and condensates across a 1.5-mile radius. Chevron attributed the incident to improperly installed equipment during completion. State officials said it was the worst blowout they had investigated in decades, and additional claims may still be pursued by natural resource damage trustees.
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BLM CONSIDERS EXPANDING CLASS 1 E-BIKE ACCESS ON LOCAL SINGLETRACK TRAILS
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The Bureau of Land Management is considering allowing Class 1 pedal-assist e-bikes on most of the more than 220 miles of singletrack it manages in the Colorado River Valley Field Office, a significant expansion from the 18 miles currently open to e-bikes at the Grand Hogback north of Rifle. The proposal, now open for public comment through March 25, would permit Class 1 e-bikes on many popular trail systems including Red Hill, Crown and Prince Creek, Sutey Ranch and routes near New Castle, while excluding Arbaney Kittle in Basalt, the Scout Trail in Glenwood Springs and part of the Mansfield Ditch route. The agency is preparing an environmental assessment under the National Environmental Policy Act and says interest from mountain bike groups prompted the review. Local governments and land managers are weighing implications where trail systems cross jurisdictions, and the BLM plans public meetings in Eagle and Silt in March.
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AGRICULTURE & THE ABCs: MONTROSE CATTLEWOMEN’S LITERACY ROUNDUP MAKES TEACHING AGRICULTURE EASY
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The Montrose CattleWomen are helping educators introduce agriculture concepts into early classrooms through their Literacy Roundup program, which provides ready-to-use lesson plans tied to children’s books. The program is designed to make teaching agriculture accessible for teachers who may not have an agricultural background, offering activities that connect reading, writing and hands-on learning with topics such as livestock, crops and food production. Volunteers work directly with classrooms, supplying materials and guidance while reinforcing the role agriculture plays in everyday life. Organizers say the effort supports both literacy development and agricultural awareness, giving students a foundation for understanding where their food comes from while easing the planning burden for teachers.
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MARIA’S BOOKSHOP SUES CITY OF DURANGO OVER POLICE WARRANT FOR CUSTOMER RECORDS
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Maria’s Bookshop has filed a lawsuit against the city of Durango seeking to block enforcement of a police warrant that would require the store to turn over book purchase records for several customers, arguing the request violates constitutional free-speech and privacy protections. The dispute began in January when a Durango Police Dept. detective sought customer purchase histories, which the bookstore declined to provide. Police later returned with a warrant seeking records for four individuals, but the store again refused and instead asked a court to intervene. The lawsuit relies heavily on a 2002 Colorado Supreme Court ruling involving the Tattered Cover bookstore, which held that law enforcement must demonstrate a compelling interest and allow bookstores a chance to challenge such requests in a hearing. Maria’s Bookshop argues that process was not followed and that compliance would have a chilling effect on readers’ First Amendment rights.
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COLORADO LEGISLATURE PASSES BILLS TO AID RANCHERS & COAL INDUSTRY WORKERS
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Two high‑priority bills for Western Slope lawmakers have cleared the Colorado legislature and are headed to the governor’s desk, aiming to support ranchers and workers affected by the state’s transition away from coal. Senate Bill 26 expands agricultural property tax relief by allowing producers who raise livestock such as pigs and chickens to qualify for an agricultural classification that lowers land valuations and property taxes, a benefit previously limited to hay growers and cattle producers. Lawmakers said the narrower bill is not expected to significantly affect state or local revenue.
The legislature also passed Senate Bill 52, which creates a hiring preference for qualified coal industry workers seeking jobs in construction, rail, utilities, energy generation and advanced manufacturing, and requires employers to report hiring data to the state. The measure also gives local governments more flexibility in investing settlement dollars from coal plant owners to spur economic development. Supporters said the bill is intended to help longtime workers remain in their communities as coal plants and mines close.
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NEW NONPROFIT OFFERS SUPPORT FOR SUMMIT COUNTY FAMILIES FACING TERMINAL ILLNESS
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A newly launched nonprofit called Lean on Us is providing support services for individuals and families in Summit County dealing with terminal illness, aiming to complement existing health care providers, caregivers and community organizations. According to the nonprofit, its nonmedical assistance includes companionship, caregiver respite, transportation, meal support, emergency financial assistance, accommodations, resource coordination and help with day-to-day tasks. Lean on Us is partnering with Bristlecone Home Health and Hospice and other local organizations to support end-of-life care, and trains and background checks its volunteers. Cofounder Vince White-Petteruti said the goal is to ensure patients and caregivers feel supported and surrounded by their community. Anyone interested in volunteering, referring someone for support or learning more can contact info@leanonussummit.org or visit LeanOnUsSummit.org.
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SUNDANCE FILM FESTIVAL SETS BOULDER VENUES & DATES FOR 2027 COLORADO DEBUT
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The Sundance Film Festival has announced dates and venues for its first Colorado edition, confirming that Boulder will host screenings, talks and events from Jan. 21-31, 2027. Festival organizers said at least 15 venues across downtown Boulder, the University of Colorado campus and civic spaces will be used, creating a walkable footprint while relying on existing theaters, auditoriums and cultural centers. University facilities, nonprofit arts spaces and commercial theaters will all play roles in the festival’s programming, which will include film screenings, filmmaker discussions and industry events. Officials said additional logistical details will be finalized closer to the debut.
Here are the 2027 Sundance Film Festival official venues:
Theaters
- Boedecker Theater — Dairy Arts Center
- Boulder High School Auditorium
- Boulder Theater
- Casey Middle School Auditorium
- Chautauqua Auditorium
- Cinemark Century Boulder
- eTown Hall
- Gordon Gamm Theater — Dairy Arts Center
- Macky Auditorium Concert Hall — University of Colorado Boulder
- Muenzinger Auditorium — University of Colorado Boulder
- Roe Green Theatre — University of Colorado Boulder
Talks and Festival Programming
- Canyon Theater, Boulder Public Library District
- Dairy Arts Center
- eTown Hall
- Old Main — University of Colorado Boulder
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MARKET UPDATE - 02/24/2026 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 02/19/2026)
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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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