Colorado Springs Business Journal (CO) articles from October 2008

Colorado Springs Business Journal (CO) archives from October 2008

A quartet of Colorado Springs-area businesses that broke the mold.
October 3, 2008... Byline: John Hazlehurst Here are four unlikely business proposals: Charge people money to look at a waterfall. Charge people money to crawl into a cave. Charge people money to look at fake cliff dwellings. Charge people money to ride a...

A bitter pill to swallow: Analysts predict pharmaceutical industry headed for decline.
October 3, 2008... Byline: Amy Gillentine While the world's attention is focused on the mortgage industry, another major U.S. industry is facing troubles of its own. The pharmaceutical industry has received a negative outlook from Moody's Investor Services...

Like a good neighbor, default servicers are there ...
October 3, 2008... Byline: Becky Hurley Default servicing is not exactly a household word. But as more than 3 million homes clog the nation's for-sale inventories, lenders and asset managers are looking for alternatives to the usual real estate list and wait...

Commentary: We could use a little more protecting and serving.
October 3, 2008... Byline: John Hazlehurst A few years back, unwinding a real estate deal gone bad, I called up my then-partner to give him the bad news: to get rid of the junk property we'd foolishly bought, we'd have to bring several thousand bucks to the...

Economic forum will focus on building Colorado Springs' future.
October 3, 2008... Byline: Rebecca Tonn It's that time of year, again -- leaves are falling, the morning air is chilly, and locals are mentally gearing up for the 12th Annual Southern Colorado Economic Forum. Small business owners, bankers, mortgage lenders...

Colo. Springs-based Dunn & Associates Inc.'s latest venture is improving quality of life for seniors.
October 3, 2008... Byline: CSBJ Staff It's not easy to separate Jeff Dunn, the real estate and senior housing developer, from his projects. He's passionate about finding new and better ways to serve an aging population. Several years ago, he began talking...

Springs-based Capstone Investment: Maybe the Ivy League does hold the key to a winning portfolio.
October 3, 2008... Byline: Rebecca Tonn What are the benefits of having nontraditional assets in your portfolio? Ted Schwartz, president of Capstone Investment Financial Group Inc., discussed these benefits and other investment topics during the Financial...

Health care for employees: Save money during open enrollment.
October 3, 2008... Byline: Amy Gillentine Health care costs continue to outpace inflation and pay raises, but people who take time to do their homework, weigh their choices and make smart decisions will be able to make their benefit dollars stretch farther...

Colorado Springs Real Estate Briefs: October 3, 2008.
October 3, 2008... Byline: Becky Hurley The Classical Academy has begun construction at the Pikes Peak Community College Rampart Range Campus, 11995 Highway 83. The District 20 school is the state's largest bricks and mortar charter school. The venture...

Colorado Springs Retail Briefs: October 3, 2008.
October 3, 2008... Byline: Scott Prater Carry-out and delivery pizza chain Garlic Jim's Famous Gourmet Pizza has reached Colorado Springs, off Powers Boulevard and North Carefree Circle. Owner Terry Holmes also purchased the franchise rights for all of El...

Colorado Springs Economic Development Corp. wants construction industry to cough up more cash.
October 3, 2008... Byline: John Hazlehurst Seeking a stable annual source of public funding, the Colorado Springs Economic Development Corp. has requested a community economic investment of nearly half a million dollars from the Pikes Peak Regional Building...

Volunteers needed for Make a Difference Month Make a Difference Day has turned into Make a Difference Month locally, making October the largest communitywide volunteer effort in the history of Colorado Springs.
October 3, 2008... Byline: CSBJ staff Volunteers needed for Make a Difference Month Make a Difference Day has turned into Make a Difference Month locally, making October the largest communitywide volunteer effort in the history of Colorado Springs. Last year...

What's your 'latte factor'?: Determining where all your discretionary income disappears to.
October 3, 2008... Byline: Rebecca Tonn Feeling helpless during the economic crunch and credit crisis? There are many ways to reduce slack in the household budget, which frees up money for saving or investing. As an added bonus, you will be doing something...

Commentary: Nobody deserves this mess.
October 3, 2008... Byline: CSBJ Staff Warren Buffett doesn't make many bad calls -- and his net worth of $60 billion provides ample evidence of his unfailing prescience. But let's hope that his most recent prediction is off the mark. Five days ago, Buffett...

Commentary: Weekend getaway really not escape from reality.
October 3, 2008... Byline: Lon Matejczyk I took the family to a small cabin in Cuchara last weekend to enjoy our wonderful climate and the changing of the colors, and to try to forget about all the worries and the fast-paced world we live in. There isn't...

Colorado Springs Nonprofits Briefs: October 3, 2008.
October 3, 2008... Byline: CSBJ Staff Volunteers needed for Make a Difference Mont Make a Difference Day has turned into Make a Difference Month locally, making October the largest communitywide volunteer effort in the history of Colorado Springs. Last...

Colorado Springs Financial Briefs: October 3, 2008.
October 3, 2008... Byline: CSBJ Staff 2008 Credit Union Association state winners Five Colorado credit unions and one credit union chapter have received first-place honors from the Credit Union Association. Two additional credit unions received second-place...

Colorado Springs Government Briefs: October 3, 2008.
October 3, 2008... Byline: CSBJ Staff Oct. 15 is the extension deadline to file state income tax Taxpayers who did not submit their income tax filing by April 15 have until Oct. 15 to meet the extension due date. NetFile, www.netfile.state.co.us can be used...

Colorado Springs-based Cally O'Donnell Agency honored.
October 3, 2008... Byline: CSBJ Staff The Cally O'Donnell Agency has earned the designation of Regional Champion for Allstate's West Central Region. The award recognizes high standards in customer satisfaction and retention, and profitability.

Colorado's Public Employees Retirement Assn.: Wall Street collapse causing big losses for PERA.
October 10, 2008... Byline: John Hazlehurst During the last year, the Dow Jones Industrial Average has declined from its Oct. 9, 2007, high of 14164.53 to below 9,500 -- a loss of more than 30 percent. Other market indices also have experienced comparable...

Forum forecast for Colo. Springs: time to get all our eggs out of military basket.
October 10, 2008... Byline: Rebecca Tonn If you skipped the 12th Annual Southern Colorado Economic Forum this morning, here's a sample of what you missed. Less than three weeks ago, the S&P 500 Index Level was only down 22 to 25 percent from last year's high,...

On hold: commercial real estate in Colorado Springs fights paralysis.
October 10, 2008... Byline: Becky Hurley At least $179 billion of the government's $700 billion bailout of the financial industry can be attributed to distressed commercial mortgage debt. That estimate from national investment firm Trend Macrolytics reflects...

Commentary: Hindsight: perhaps we really did live too well too long.
October 10, 2008... Byline: John Hazlehurst The world crisis, which has seen the arcane financial system that underpinned a globalized economy disintegrate, is far from over. Think of the Panic of 1907, the Depression of the 1930s and the economic dead zone...

Murphy Construction of Colorado Springs: Murphy truly sees business as one big family.
October 10, 2008... Byline: CSBJ Staff Only Chuck Murphy could see flunking out of law school as an opportunity -- a chance to make a new career, and create a business than has now spanned nearly 48 years. Murphy Construction of Colorado Springs is family...

Local business leaders in El Paso County optimistic about economic turnaround.
October 10, 2008... Byline: Rebecca Tonn As promised last week, this column includes local survey results about business activity and what to expect in El Paso County for 2009. Fred Crowley, senior economist and senior instructor at the College of Business...

Colorado Springs Medical Briefs: October 10, 2008.
October 10, 2008... Byline: Amy Gillentine The Colorado State Health Insurance Assistance Program will receive more than $10,000 from the Centers for Medicare and Medicaid Services for outstanding achievement. The program provides Medicare beneficiaries with...

Colorado Springs Real Estate Briefs: October 10, 2008.
October 10, 2008... Byline: Becky Hurley Ranch Hand Truck Accessories, an aftermarket wholesale and retail supplier, is opening a 12,000-square-foot showroom and distribution center at 4315 N. Nevada Ave. The Shiner, Texas-based firm expects to hire half a...

Colorado Springs Retail Briefs: October 10, 2008.
October 10, 2008... Byline: Scott Prater Kirk and Hill's new store at the Promenade Shops at Briargate is performing beyond expectations. Owner Jackie Gunn said sales have been nearly double what she planned for when she opened the store during mid-September....

Colorado Springs Business Briefs: October 10, 2008.
October 10, 2008... Byline: CSBJ Staff Colorado Springs Two Men and a Truck named top franchise Eric St. Pierre and Jeff Walker have been named the 2008 Franchisees of the Year by the International Franchise Association. The award recognizes outstanding...

Retailers in Colorado Springs facing not-so-happy holiday selling season.
October 10, 2008... Byline: Amy Gillentine Retailers will be walking a marketing tightrope this fall as they try to entice customers to buy during uncertain economic times. Some retailers are already slashing prices. Wal-Mart marked down all its toys to $10....

Economy casting chill on Colorado ski season.
October 10, 2008... Byline: Amy Gillentine Colorado's major ski resorts -- many of them vacation destinations for most of the country and Europe -- are bracing for a rough season. And it isn't because of a lack of snow, but a lack of visitors. Bookings for...

Commentary: Now isn't the time to be fearful about future of the economy.
October 10, 2008... Byline: CSBJ Staff In common with most of our readers, we have watched the financial tsunami of the last several weeks with dismay. The crisis has two components, one which might be transient and another which might have longer-term...

Commentary: Not to tell you how to vote, but to tell you how I'd vote.
October 10, 2008... Byline: Lon Matejczyk A critical time is upon us. The silly season has been here for awhile and will come to an end Nov. 4... thankfully. The state ballot this year had 18 amendments on it. That was until the anti-business folks decided...

Colorado Springs Government Briefs: October 10, 2008.
October 10, 2008... Byline: CSBJ Staff Government Colorado Lottery wins advertising awards The Colorado Lottery has received several advertising awards from the National Association of State and Provincial Lotteries. The Silver Celebration Spadea won a...

Grants make downtown facelifts in Colorado Springs less challenging.
October 17, 2008... Byline: Rebecca Tonn If you live, work, visit, shop or dine downtown, you've likely noticed exterior renovations at established merchants such as Regina's Boutique or Sparrow Hawk Gourmet Cookware. Or you might have seen the...

Bad might be overly optimistic for 2009 budget for Colorado Springs.
October 17, 2008... Byline: John Hazlehurst The city's proposed 2009 budget can be characterized as pessimistic, even grim. According to City Manager Penelope Culbreth-Graft's letter to City Council,... the 2009 budget presented a challenge to balance beyond...

"Green" jobs won't suffer during the economic downturn.
October 17, 2008... Byline: Amy Gillentine Green jobs -- focusing on ecology, alternative energy and the environment -- might be the bright spot in the economic gloom. Congress renewed tax credits for wind and solar energy as part of the $700 billion bailout...

Commentary: We could be on the precipice of a new political reality.
October 17, 2008... Byline: John Hazlehurst As the election approaches, it seems more and more likely that Barack Obama will become the 44th president of the United States. He will assume the office during a time of social and economic upheaval that has few...

No need to panic, but forum in Colorado Springs raised issues that need to be addressed.
October 17, 2008... Byline: Rebecca Tonn Raise your right hand -- all of you! -- and repeat after me, 'I promise to spend more money.' If you missed last week's Southern Colorado Economic Forum, it's not too late to do what the audience of 600 did, at the...

Interview with Keith E. Waggoner: Regional president, southern Colorado for Adams Bank & Trust.
October 17, 2008... Byline: CSBJ Staff Keith E. Waggoner wanted to be a professional football player -- not an outrageous dream, because, after all, he started on the high school varsity team for four years, broke a state record in the 120-yard high hurdles...

This is normal: Capitalism and crisis go hand in hand.
October 17, 2008... Byline: Rebecca Tonn Take a few deep breaths -- everything's going to be fine. This crisis is not uncommon, said James Paulsen, chief investment strategist with Wells Capital Management. It's important to realize we have crises regularly....

Colorado Springs Medical Briefs: October 17, 2008.
October 17, 2008... Byline: Amy Gillentine While every county in Colorado has double-digit percentages of uninsured, figures released by the U.S. Census Bureau show that rural counties fare far worse than their urban counterparts. The numbers show that...

Colorado Springs Retail Briefs: October 17, 2008.
October 17, 2008... Byline: Scott Prater American shoppers bought little more than essentials during September as retailers reported disappointing sales for the month. The sharp decline in sales and customer visits forced many retailers, including Kohl's,...

Colorado Springs Nonprofits Briefs: October 17, 2008.
October 17, 2008... Byline: CSBJ Staff Citizens Project's Fifth Annual Divine Award Citizens Project invites residents to submit nominations for this prestigious award that recognizes a person in the Pikes Peak region who has worked tirelessly to create a...

Sports education knocks career opportunities out of the park.
October 17, 2008... Byline: Becky Hurley So maybe you weren't one of the 700 professional athletes picked for the NBA, the NFL or the NHL this year. No worries. There are other ways to build a career in sports with fewer injuries and tough breaks than Jay...

Now is the time to focus on the future.
October 17, 2008... Byline: Colorado Springs Business Journal Staff A couple of years ago, the Broncos faced the Pittsburgh Steelers in the AFC championship game. The game was in Denver, and the Broncos were favored. Tickets were unavailable, unless you were...

Commentary: The death of an industry.
October 17, 2008... Byline: Lon Matejczyk Someone called the other day and asked how many phone books we would need. My initial response was none, then one, then one for all of our sales people to have one for sales leads. I sure don't need one. I have all...

Commentary: Paying the price for doom and gloom cover to cover.
October 17, 2008... Byline: Mike Boyd I was re-thumbing through last week's paper and realized that it was pretty much page after page of not-so-good news. Of course, looking back, last week was pretty much a downer across the board. Thankfully, this week,...

Public comment reopened about water quality for Southern Delivery System.
October 17, 2008... Byline: CSBJ Staff The U.S. Bureau of Reclamation is accepting comments about the water quality analysis portion of the Draft Environmental Impact Statement for the proposed Southern Delivery System. The original 60-day comment period was...

Multifamily anchors commercial market in Colorado Springs.
October 24, 2008... Byline: Becky Hurley While the combined vacancy rate for office, retail and industrial properties in Colorado Springs jumped to 9.4 percent during the third of quarter 2008, according to Turner Commercial Research, the multifamily sector...

Ag industry in Colorado holding its own during economic turmoil.
October 24, 2008... Byline: Amy Gillentine Colorado's $6.3 billion agriculture industry should be able to survive the current economic storm -- if it doesn't last too long. Farmers are used to weathering, well, the weather, said Russ Thomkey, chief credit...

Days of mega-health care expansion over.
October 24, 2008... Byline: Amy Gillentine Health care systems are approaching the future cautiously -- making sure their balance sheets remain in the black and prudently choosing capital projects. But a lack of liquidity has hospitals worried, and the two in...

Interview with Darvi Rahaman: Executive with Peak Vista Community Health Centers in Colorado Springs.
October 24, 2008... Byline: CSBJ Staff Darvi Rahaman left a successful private practice at the University of California at Los Angeles for a career at Peak Vista Health Centers. The reason? He wanted to give children in the Pikes Peak region something he...

Commentary: Fourth Estate could learn a lot from a couple over-the-hill turtles.
October 24, 2008... Byline: John Hazlehurst Earlier this month, the Associated Press distributed a story about the last breeding pair of Yangtze giant soft-shell turtles. She's around 80 years old. He's 100. Breathless scientists watched as the world's most...

No fear investing: Blue light special on stocks, bonds.
October 24, 2008... Byline: Rebecca Tonn Back in the good, old days -- say, last year -- when prices were reduced on just about anything, people would buy. Gee, I've always wanted a wireless doorbell. But now that fear is pervasive, consumers and investors...

Colorado Springs Medical Briefs: October 24, 2008.
October 24, 2008... Byline: Amy Gillentine Medicaid spending will double in a decade, according to a study by the U.S. Department of Health and Human Services. Medicaid is one of the largest payers for health care in the United States. The study projects...

Colorado Springs Real Estate Briefs: October 24, 2008.
October 24, 2008... Byline: Becky Hurley The 28,000-square-foot, 44-suite Residence at Skyway Park senior community off Arcturus Drive on the city's southwest side will open its doors during spring 2009. The Diaz Fritz Group is the general contractor....

Colorado Springs Retail Briefs: October 24, 2008.
October 24, 2008... Byline: Scott Prater Apple has opened a retail store at the Promenade Shops at Briargate. The store comes with full service and support and offers onsite workshops, personal shopping and youth programs. Included is the Genius Bar service,...

Colorado Springs Nonprofits Briefs: October 24, 2008.
October 24, 2008... Byline: CSBJ Staff Fatherhood program receives award The Center on Fathering, a program of the El Paso County Department of Human Services, has received a $3,000 Fatherhood Resource Center award from the National Fatherhood Initiative. FRC...

Commentary: In light of budget woes, city/county merger needs to be seriously considered.
October 24, 2008... Byline: CSBJ Staff Can 1 plus 1 equal 1? Not in grade school arithmetic -- but maybe in local government. It seems to us that the time has come for city and county governments to move more aggressively toward consolidation of many of their...

Commentary: Employers trying to protect perks.
October 24, 2008... Byline: Mike Boyd Got some good news from my friends at Challenger, Gray & Christmas this week. Apparently, despite the need to cut costs during these challenging economic times, a majority of companies are working diligently to preserve...

Charlotte's Optical in Colorado Springs says Palin sparks surge of interest in Kawasaki 704s.
October 31, 2008... Byline: Amy Gillentine During the 1960s, women coveted Jacqueline Kennedy's stylish pill box hats and sunglasses. Now they're lining up for Sarah Palin's clear-framed eyeglasses. Demand for Kazou Kawasaki 704s might be one of the few...

Local effect of Wall Street crisis in El Paso County.
October 31, 2008... Byline: Rebecca Tonn For proof that the sky is, indeed, not falling, simply look out the window. Lately, financial fear reigns in the minds of Americans -- and residents of El Paso County are not immune. But the county survived a dismal...

Commentary: Just in case you really do want to know who got us into this mess.
October 31, 2008... Byline: John Hazlehurst I view derivatives as time bombs, both for the parties that deal in them and the economic system. Warren Buffett, letter to shareholders of Berkshire Hathaway, 2004. During 1997, Blythe Masters, a 34-year-old...

Pleasure industries in the Pikes Peak region not immune to feeling the pain.
October 31, 2008... Byline: John Hazlehurst Conventional economic theory holds that no economic downturn is universal, that some segments of the economy benefit in spite of -- or because of -- the downturn. If foreclosures and loan delinquencies are up, then...

Interview with Dr. Dirk Pikaart: Gynecologic oncologist, Penrose Hospital in Colorado Springs.
October 31, 2008... Byline: CSBJ staff Dirk Pikaart is in a high demand field. He is the only gynecological oncology doctor in southern Colorado. But that isn't the case everywhere. It's a problem of distribution, he said. Some cities have several, but there...

Forbes offers breakfast crowd in Colorado Springs 'boring' economic lesson.
October 31, 2008... Byline: Rebecca Tonn A lot of you are wondering what in the world is going on with the credit crisis and the financial crisis, said Steve Forbes, chairman and chief executive officer of Forbes Media LLC and editor-in-chief of Forbes...

Colorado Springs Medical Briefs: October 31, 2008.
October 31, 2008... Byline: Amy Gillentine Newborn babies were the most common reason for a stay in a Colorado hospital during 2007. The Colorado Hospital Association produces an annual report based on charges, lengths of stay and reasons for hospitalization...

Colorado Springs Real Estate Briefs: October 31, 2008.
October 31, 2008... Byline: Becky Hurley DLR Group has been selected to provide architectural and engineering services for the design of an indoor, 50,000-square-foot Equestrian Event Center and ancillary facilities project being developed by the Southern Ute...

Colorado Springs Retail Briefs: October 31, 2008.
October 31, 2008... Byline: Scott Prater Local King Soopers stores will provide expired beef and chicken to help feed 120 lions, tigers, leopards, cougars and bobcats at Serenity Springs Wildlife Center in Calhan. Each month, the cats eat 40,000 pounds of...

Quality, not cost, driving increase in domestic medical travel.
October 31, 2008... Byline: Amy Gillentine Traveling inside the United States for health care is a growing trend, but it's not always done to save money. Domestic medical travel -- unlike international medical travel -- is frequently based more on quality of...

Colorado Springs Nonprofits Briefs: October 31, 2008.
October 31, 2008... Byline: CSBJ Staff B&G Club receives $50,000 for Teen Leadership Academy The Boys & Girls Club of the Pikes Peak Region has received a $50,000 grant from the Allstate Foundation to help teenagers develop and strengthen their leadership...

It's becoming a 'virtual' lock when doing business deals.
October 31, 2008... Byline: John Hazlehurst Imagine acquiring a national hotel chain -- and running out of soap. That actually happened, said Paul Hartzell, senior vice president of Merrill Corp.'s DataSite, because post-merger integration is overwhelming...

Commercial construction pipeline in the Pikes Peak region to see slower flow.
October 31, 2008... Byline: Becky Hurley Like their national counterparts, general contractors in the Pikes Peak region will be challenged to keep their project pipelines stoked during 2008. On an annualized basis, non-residential construction spending...

Commentary: The simple lesson of the oil roller coaster.
October 31, 2008... Byline: CSBJ Staff Economics 101: supply and demand. And just to remind those of us who failed to pay attention during class, or chose a less rigorous field of study (like, for example, journalism), here's a textbook definition. Supply and...

Commentary: I like helicopters - PCMS report.
October 31, 2008... Byline: Lon Matejczyk On a recent Thirty Group tour to the Army's Pinon Canyon Maneuver Site (PCMS), I got to ride in a helicopter, see the area first hand and visit with some of our troops. I am always impressed by our young troops....

Commentary: One way to get a guaranteed return on your investment.
October 31, 2008... Byline: Mike Boyd Normally I don't pass along e-mail forwards, but Doug Carter of Sperry Van Ness sent one our way last week that was just too good not to share. In fact, Doug's e-mail said that he also rarely forwards non-apartment...