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Colorado - Wed. 07/15/26 |
A Free Business Publication from Alpine Bank
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T. REX SELLS FOR $50 MILLION, MOST EXPENSIVE DINOSAUR FOSSIL EVER AUCTIONED
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A Tyrannosaurus rex specimen sold at Sotheby’s for $50.1 million, becoming the most expensive dinosaur ever sold at auction. Riding a boom in dinosaur prices at auction, the T. rex, named “Gus,” blew past its price estimate of $20 million to $30 million after a 10-minute bidding war between seven bidders. The winning bidder was not named. It broke the record sale by Sotheby’s of a Stegosaurus skeleton nicknamed “Apex” in 2024 for $44.6 million, bought by billionaire hedge funder Ken Griffin. Gus was discovered in South Dakota and is about 67 million years old.
Touted as one of the most complete dinosaur specimens ever found, Gus has 183 fossil bone elements and is about 61 percent complete by bone count. It is about 38 feet long, about 12.5 feet tall and has a skull length of 54 inches, making it one of the largest T. rex fossils ever found. Gus also displayed a number of injuries, including fractured and healed bones in several ribs and gastralia, as well as bite marks to several skull bones. Dinosaur fossils have become one of the fastest growing segments of the collectibles market, as the wealthy search for rare stores of long-term value and auction houses look to categories beyond art to diversify their sales. A T. rex named “Stan” sold at Christie’s in 2020 for $31.8 million.
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ARTEMIS II CREW TO SPEAK AT RED ROCKS AMPHITHEATRE
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The crew of Artemis II will be at Red Rocks Amphitheatre on Aug. 3 for an event that will celebrate the Rocky Mountain region’s contribution to their mission around the dark side of the moon, the venue announced on social media. The event will include highlights from the mission and an interactive Q&A session with the crew members, organizers said. The crew of Artemis II included three Americans, Commander Reid Wiseman, pilot Victor Glover and Christina Koch, and Canada’s Jeremy Hansen. The 10-day mission saw the astronauts travel about 685,000 miles — farther from Earth than any other humans in history. Doors open at 8 a.m. for a STEM Fair on the Top Plaza. The Artemis II crew will take the stage beginning at 9:30 a.m. Tickets and parking are just $1 all-in and will be available starting Friday, July 17 at noon.
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DESIGNS FOR FRONT RANGE PASSENGER RAIL TRAINS RELEASED
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The Front Range Passenger Rail District on Sunday unveiled the new brand identity and personality for its planned Colorado Connector intercity train service, known as CoCo. The branding is intended to be welcoming, optimistic and distinctly Colorado while presenting a trustworthy and approachable identity for the service, according to a news release. The new brand includes a red fox mascot wearing a Colorado-flag bandanna. According to district officials, the fox was chosen because it is native to Colorado and is known for agility, intelligence and the ability to navigate diverse landscapes.
Gov. Jared Polis said in an earlier announcement tied to the naming, “The Colorado Connector reflects exactly what this train is about: bringing communities together and creating a faster, cleaner and more convenient way to travel across our state.” Nearly 26,000 Coloradans participated in selecting the Colorado Connector name earlier this year. CoCo is designed as an express passenger train linking communities along the I-25 corridor from Fort Collins to Pueblo, using mostly existing freight rail lines. Initial starter service between Denver Union Station and Fort Collins is targeted for 2029 with three daily round trips.
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RUEDI HYDROELECTRIC FACILITY ANTICIPATED TO LOSE POWER BY AUGUST
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The city of Aspen’s Ruedi Hydroelectric Facility is anticipated to lose hydroelectric power in early August due to current U.S. Bureau of Reclamation reservoir forecasts and operating conditions. The updated reservoir data indicates that the timing has shifted later than previously anticipated. According to the city’s Utilities Resource & Portfolio Manager Joshua Mattson, earlier planning indicated the reservoir could drop below the hydroelectric power pool threshold in mid- to late July. “Updated reservoir elevations, inflow and outflow conditions, and U.S. Bureau of Reclamation operational forecasts now indicate the threshold is more likely to be reached in early to mid-August,” Mattson wrote in an email.
The hydroelectric power pool represents the minimum reservoir elevation that is required in order to safely operate the hydroelectric turbine and associated equipment. When reservoir levels fall below this threshold, city staff will take the Ruedi Hydroelectric Facility offline in order to protect equipment. Ruedi Reservoir has been experiencing declining water levels in the face of persistent drought conditions, reduced inflows and increased outflows associated with downstream water rights calls, according to the update. In 2025, the Ruedi Hydroelectric Facility accounted for approximately 62 percent of the city’s total hydroelectric generation, the update confirms, and approximately 18 percent of the city’s overall electric energy portfolio.
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CPW ENACTS VOLUNTARY FISHING CLOSURE ON ANIMAS, SAN JUAN & DOLORES RIVERS
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Colorado Parks and Wildlife is asking anglers to voluntarily refrain from fishing along the Animas River through Durango, the San Juan River through Dolores and the Dolores River below McPhee Dam in the afternoons to alleviate stress on fish as water temperatures rise and water levels drop. The voluntary closure began Monday and will be in effect from noon to midnight. In warmer summer months, fish experience a period of reduced oxygen levels that decrease their ability to recover effectively after being caught and released. Temperatures are approaching 71 degrees in the Animas River and have risen above 75 degrees in the Dolores and San Juan rivers.
Additionally, early morning and nighttime temperatures are trending upward, while river flows across the Southwest have dropped far below average. Voluntary closures rarely happen, said Andrew Larson, a fly-fishing guide with Duranglers. And this is the first time in about a decade that he has seen closures this early. Normally, they would be expected in August, he said. “It’s low, but I’ve never seen it (like this) at this time of year,” he said. The closure will remain in place until conditions improve and water temperatures no longer consistently reach 70 degrees.
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BLUE MESA RESERVOIR IN CRISIS AMID HISTORIC DROUGHT, DOWNSTREAM IMPACTS
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As of July 12, Blue Mesa Reservoir near Gunnison sat only 32 percent full at 266,000-acre feet of storage water — about 35,000-acre feet less than the historic minimum for that date, down 35 percent. Severe drought conditions at the reservoir have resulted in critically low storage levels, a limitation on water allocation to the Uncompahgre Valley and its agricultural water users, limited flows for releasing endangered fish species, decreased recreational opportunities on the water that go hand-in-hand with a downturn in the regional recreational economy, and uncertainty over power generation and water usage in the near future. Colorado River District spokeswoman Lindsay DeFrates called it a “crisis,” as the reservoir and the Wayne N. Aspinall Unit — which stores water and generates hydroelectric power through the reservoir as well as the Morrow Point and Crystal Reservoir dams — is one of the upper units that feeds the crucial Lake Powell downstream.
“Everyone’s looking downstream at Lake Powell while we have this happening in our backyard right now,” DeFrates said. If the water drops below the power pool, per the Bureau of Reclamation, Blue Mesa Dam would not fully shut off, but it would become a “run of the river” generator, meaning all flows into the reservoir would then leave the reservoir, providing a Band-Aid to the power generation issue but worsening the reservoir’s overall water level woes — woes that have led to marina relocations and the impending closure of boat ramps. In this scenario, Morrow Point Dam and Crystal Dam would continue to generate power.
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TRIO OF NEW HOTELS FOR COLORADO OUTDOORS COMPLEX IN MONTROSE
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The Lamont Companies announced this week that three more hotels are slated to be developed in the Great Outdoors complex in Montrose. Lamont Companies developed, built and opened the first hotel — Fairfield Inn & Suites by Marriott — located in the complex. Next up is a Hampton Inn & Suites by Hilton, already approved for $1.4 million in MURA funding for infrastructure improvements. The hotel is anticipated to break ground prior to October of 2026. Lamont Companies secured the rights to build a Marriott SpringHill Suites and a Home2 Suites by Hilton. This would come to fruition depending upon the success of the first two hotels of which the Fairfield Inn is exceeding expectations, according to Colorado Outdoors developer David Dragoo.
The updated Colorado Outdoors site plan has each additional hotel running south of the Fairfield Inn past the Tributary Street along Mayfly Drive. Hampton Inn would then be followed by Home2 Suites by Hilton and Springhill Suites by Marriott. Though the number of rooms is not finalized as of yet the total hotel complex could be a total of up to 400. Conference space will also be added. The three new hotels would share access to infrastructure, reducing costs. Lamont Companies has not asked for MURA funds for the additional two proposed hotels so far.
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FIRES FORCE RACE DIRECTORS TO RETHINK SUMMER EVENTS; OURAY 100 & SILVER RUSH BOTH CANCELED; HARD ROCK 100 IS A GO
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The 2026 Hardrock 100 is a go. After weeks of monitoring smoke from nearby wildfires, race organizers announced Thursday morning that the iconic 100-mile ultramarathon will proceed as planned. About 150 runners are set to start the race Saturday in Silverton, climbing more than 33,000 feet over 13 mountain passes and traveling through the towns of Telluride and Ouray and the ghost town of Sherman. They have 48 hours to finish. But until less than 48 hours before the starting gun, whether the race itself would happen remained uncertain. Organizers gave themselves until Thursday morning to make the final call, balancing forecasts for smoke and fire behavior against the reality that many runners, volunteers and crews were already traveling to Silverton.
The Gold Mountain Fire, burning north of Ouray and east of Hwy. 550, has filled parts of southwestern Colorado with smoke, closed public lands and prompted organizers of other endurance events to cancel or postpone races. As of Thursday morning, the fire had burned more than 32,000 acres and was 8 percent contained. While Hardrock determined it could safely move forward, other marquee endurance events like the Ouray 100 and Leadville’s Silver Rush mountain bike and ultramarathons were called off. Others, like August’s Leadville Trail 100, remain in limbo. Longtime Hardrock race director Dale Garland said the decision to proceed with the race extended far beyond the race organization itself. Hardrock requires permits from three towns, four counties, the U.S. Forest Service and the Bureau of Land Management — nine separate agencies.
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TOP 10 FITTEST CITIES IN AMERICA
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Cities that ranked in the top 10 fittest cities in America share common traits, according to the American College of Sports Medicine’s annual fitness index, published July 14. These cities have strong active transportation systems, high physical activity rates, broad access to parks and recreation and policies that support active lifestyles.
The top 10 fittest cities in America:
- Arlington, VA
- Washington, D.C.
- Minneapolis, MN
- Seattle, WA
- Denver, CO
- San Francisco, CA
- Irvine, CA
- Atlanta, GA
- Madison, WI
- Boston, MA
Oklahoma City ranked at the bottom of the list. Memphis; Port St. Lucie, Florida; Indianapolis and Lubbock, Texas rounded out the bottom five on the ranking.
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THE INFLATION BREAKDOWN FOR JUNE 2026
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Consumer prices pulled back in June on the heels of lower energy and gasoline prices, a reversal after moving sharply upward in recent months due to the Iran war. However, inflation risks re-igniting in coming months amid renewed hostilities between the U.S. and Iran, economists said. The consumer price index, an inflation barometer, rose 3.5 percent in June from 12 months earlier, the Bureau of Labor Statistics said Tuesday. That’s down from 4.2 percent in May — the first decline in the annual inflation rate since January, when it stood at 2.4 percent.
“It suggests the worst is over, we’re past the peak and inflation should moderate,” said Mark Zandi, chief economist at Moody’s. “The biggest threat is that things unravel and we’re back to full-blown war with the Strait [of Hormuz] shut down,” he said. The Fed aims for an annual inflation rate around 2 percent over the long term. Barring renewed tensions, economists said that inflation should moderate, likely keeping the Fed from increasing borrowing costs.
- Global oil prices declined substantially throughout June, from more than $90 per barrel to roughly $73 per barrel by the end of the month. Prices for gasoline, which is refined from crude oil, and other fuels and energy products fell dramatically as a result.
- Gasoline prices fell about 10 percent in June while fuel oil declined 9 percent and the broader energy category declined 6 percent, according to the inflation data issued Tuesday. However, each is up by double digits over the past year: By 27 percent, 43 percent and 16 percent, respectively.
- The price reprieve in June may be short-lived amid flaring tensions in the Middle East. That U.S.-Iran ceasefire deal appears increasingly fractured after the adversaries exchanged hostilities for a third consecutive day on Tuesday. Global oil prices had risen to about $86 per barrel as of 9:45 a.m. ET on Tuesday.
- Overall, the consumer price index declined by 0.4 percent on a monthly basis in June — the largest one-month decrease since April 2020, at the onset of the Covid-19 pandemic.
- The price of new vehicles remained steady during the month. Used car and truck prices declined 0.2 percent in June, bringing the annual decline to about 2 percent, likely due to weak consumer demand amid affordability concerns for cars.
- Apparel and electricity prices were also down “big time” during the month, while medical services prices also decreased and housing was “barely up,” Zandi said.
- Beef roast prices are up about 14 percent over the past year amid a decades-low cattle supply. Tariffs and adverse weather also pushed up tomato prices 20 percent in the past year, though they’ve recently begun falling back.
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COLORADO WILDFIRES: NEW ASPEN ACRES FIRE EVACUATIONS IN HUERFANO COUNTY; STEAMBOAT DEPLOYS SNOWMAKING GUNS AS PRECAUTION
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- Aspen Acres fire in Custer and Pueblo counties: Huerfano County officials ordered mandatory evacuations related to the Aspen Acres fire on Tuesday morning, while more displaced Pueblo County residents were allowed to return home for the first time in weeks. The Aspen Acres fire is one of six active wildfires burning across Colorado that have together consumed nearly 208,000 acres, or 325 square miles. As of Tuesday morning, the Aspen Acres fire burning in southern Colorado had consumed 99,077 acres, or 155 square miles, and was 36 percent contained. The wildfire is Colorado’s largest active wildfire and the seventh largest in the state’s recorded history, behind the 2018 Spring Creek fire that consumed 108,045 acres. The Aspen Acres fire has destroyed at least 851 structures.
- Green Ridge and Fishhook fires: Two wildfires sparked south of Steamboat Springs in northern Colorado on Sunday. As of Monday evening, the Fishhook fire had scorched an estimated 200 acres with no containment in Routt National Forest, near Rabbit Ears Pass. The fire is less than a mile away from U.S. 40, but the highway remained open, fire officials said in an 8 p.m. Monday update. If the fire continues to grow south toward the highway, U.S. 40 may close. Steamboat Ski Resort, roughly three miles from the fire, fired up 41 of the resort’s snowmaking guns in the Tomahawk and Spike areas and around the Rendezvous Lodge on Monday to saturate the ground in case the flames advanced. The Stagecoach Reservoir fire was last estimated at 44 acres with 27 percent containment. An evacuation center is available at Soroco High School, 305 Grant Ave. in Oak Creek, according to Routt County officials.
- Gold Mountain fire near Ouray: A pilot fighting a wildfire north of Ouray died Sunday evening when his helicopter crashed into the Silver Jack Reservoir in southwestern Gunnison County, according to the sheriff’s office. Nicholas Dale, a 56-year-old federally contracted fire aviation pilot from Sooke, British Columbia, died in the crash. The Gold Mountain fire saw minimal growth Monday, consuming a total of 36,965 acres with 12 percent containment, fire officials said in a Tuesday morning update. That's roughly 58 square miles. More than 980 personnel remained on scene to fight the wildfire. Mandatory evacuations remained in place on Tuesday for residents of Ouray and Gunnison counties north of the fire. Evacuations were also in effect northeast of the Cimarron Ridge, along the border of Gunnison and Montrose counties. Evacuated residents can seek shelter at the Ridgway Secondary School.
- Ferris fire in San Juan National Forest, near Dolores: As of Tuesday morning, the Ferris fire had consumed an estimated 64,869 acres, or 101 square miles, in and near the San Juan National Forest north of Dolores. At that time, the flames were 29 percent contained. Lightning sparked three fires in the San Juan National Forest on June 27. Those fires then grew and merged into the Ferris fire. As of Tuesday, mandatory evacuations remained in effect north and east of Dove Creek.
- Willow fire near Leadville: Containment shrunk slightly on a wildfire burning near Leadville in Lake County on Monday, dropping to 29 percent from 33 percent. As of Monday evening, the Willow fire had consumed roughly 6,408 acres. The burn area covers roughly 10 square miles. Mandatory evacuations remained in place Tuesday for an area bordered to the north by Lonesome Lake and Isolation Lakes, to the west by Twining Peak, to the south by Echo Creek and to the east by East Tennessee Creek.
- Air quality alerts: The four large fires have led to consistently worsening air quality across the state, prompting state health officials to issue advisories. The warnings mostly cover central, west and southwest Colorado. The newest alert from the Colorado Department of Public Health and Environment will remain in effect until at least 9 a.m. Wednesday, according to the agency. That alert includes Delta, Montrose, Ouray and Pueblo counties. If the smoke drops visibility to less than 5 miles in an area, it has reached unhealthy levels, state health officials said in the alert. Those with heart disease and respiratory illnesses, young children and older adults are more at risk.
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MARKET UPDATE - 07/14/2026 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 07/09/2026)
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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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