Denver Business Journal articles from October 1999

Denver Business Journal archives from October 1999

Denver slams into brick shortage.(Statistical Data Included)
October 29, 1999... But real crisis may come from a lack of skilled masonry workers The nationwide brick shortage that has left Memphis home builders waiting six months for product and prompted one of the country's largest brick manufacturers to run its five...

Taylor serves up success.(Statistical Data Included)
October 29, 1999... If Restaurant Kevin Taylor is open and Kevin Taylor isn't there himself, this owner/chef is not happy. "I'll admit, it's insanity," said Taylor. "But that's the way I choose to run my business and the way I choose to run my life." ...

WestPac demands its money.(Statistical Data Included)
October 29, 1999... Trustee for airline sues for $30M owed Just in time for Halloween, Western Pacific Airlines has come back from the grave to scare vendors and airport officials across the country. Many who believed the troubled carrier dead and...

Ties between Liberty, Ascent go way back.(Statistical Data Included)
October 29, 1999... Liberty Media Group's recent, estimated $514 million stock deal to buy the dregs of Ascent Entertainment Group Inc. shouldn't come as a surprise. Liberty and Ascent; both homegrown, go way back. Moreover, Liberty always has had an eye for...

FirsTier moves to the next level.(Statistical Data Included)
October 29, 1999... Name change expedites expansion plans For years, banks have shown as much creativity in picking their names as heavyweight boxer George Foreman did in christening his five sons. Foreman called them all "George," on par with the...

Tony the Tiger loses a little job security.
October 29, 1999... Former Denver Broncos Quarter-back John Elway has always been good in a crunch. And now a new frosted flakes cereal brand is promoting that fact. Called Quarterback Crunch, each box of the collectors' cereal features action shots of...

Stadium seats get top billing.
October 29, 1999... Theater trend's impact unclear While some retail-industry insiders hail stadium seating as the wave of the future for movie theaters, one that will crash down on all other types of seating, others contend a theater's location and overall...

Network supports firefighters' families.(Family Support Networks)(Statistical Data Included)
October 29, 1999... When champagne corks pop and confetti flies on the eve of the new millennium, revelers in the Mile High City will be counting on firefighters, medics and police officers for their safety. But as emergency crews finalize action plans for...

Phil Feigin quits, returning to Colo.(Brief Article)
October 29, 1999... Ex-securities chief may practice law Blame it on the dawning of a new century, but a lot of people are rethinking what they want to do and where they want to be in the year ahead. Phil Feigin, former Colorado securities commissioner,...

Corrections and amplifications.
October 29, 1999... * In the Oct. 22-28 issue's story about night skiing, the photo of Keystone after dark should have been credited to John Fullbright and Vail Resorts Inc. * In the Oct. 22-28 issue in the Public Records section, LTCM Inc. was incorrectly...

Williams takes over as top banking exec.(Len Williams)(Statistical Data Included)
October 29, 1999... KeyCorp has handed the baton for Colorado to Len Williams in the hopes he, like the fourth runner in a relay race, can close the gap on some fast-moving competitors. As KeyCorp's new Colorado district president, Williams said he will...

Anschutz's new arena is most expensive ever.
October 29, 1999... A couple of weeks after Denver's Pepsi Center opened to the romantic strains of French Canadian pop singer Celine Dion, local billionaire Phil Anschutz's Staples Center arena in Los Angeles debuted to the hard-pumping rock 'n' roll of New...

Mergers in ag industry hurting independents.
October 29, 1999... Small farmers have fewer marketplace options Colorado's independent farmers and ranchers feel they are being squeezed out of the market by the country's large agribusiness conglomerates. That's because the largest companies...

Rulings keeps federal prosecutors in line.
October 29, 1999... The 10th Circuit Court of Appeals has sent a message federal prosecutors that, like it or not, the Colorado Rule of Professional Conduct applies to them. In September, a group of U.S. attorneys appealed a lower court ruling that found...

Cherry Creek North tries image campaign.
October 29, 1999... Just in time to catch the eyes of holiday shoppers, Cherry Creek North has invested in its first image marketing campaign. The series of six ads enlist whimsical illustrations depicting the sights of the district. Featuring the work of...

Looking at the past for glimpse of future.
October 29, 1999... Most investors waste too much mental energy worrying about things they can never know ahead of time, much less change. Where are interest rates headed, is the dollar getting too weak or strong, are consumers retrenching or are wages going...

Jeffco firm cashes in on recycled products.
October 29, 1999... Vanessa Morganti sells some really bizarre things. Her company, Future Solutions Inc., has access to more than 6,000 products made from recycled or environmentally friendly materials. The company's showroom, in an office building next...

Online beer club brings brews to doorsteps.
October 29, 1999... One Denver-based online retailer is set to launch its holiday season thanks to the expertise of Michael Jackson. No, not the moonwalking one with a sequined glove, but rather one of the industry's best known beer experts. ...

Cherokee buys N.J. properties for $58M.
October 29, 1999... Cherokee Investment Partners LLC of Englewood has taken its gospel of turning real estate sows' ears into silk purses to New Jersey. The Colorado company, which buys environmentally troubled buildings and other real property that have...

Club rides craze for salsa.
October 29, 1999... Is Denver asking for a little extra salsa on the side? When management at the former dance club 9th Avenue West saw lines stretching around the block on its salsa nights, the team decided it was time for a change. Especially because it...

GAO asked to probe retail 'slotting' fees.
October 29, 1999... Sen. Christopher S. Bond, chairman of the Senate Small Business Committee, has asked the General Accounting Office to study the retail industry's use of "slotting" fees -- money manufacturers must pay to get their products sold in stores. ...

Vail Resorts plans purchase of Internet companies.
October 29, 1999... VAIL -- Ski resort owner Vail Resorts Inc. has entered into an agreement to buy VailNet and InterNet Works. Terms of the pending deal weren't disclosed. VailNet is an Internet service provider. InterNet Works maintains the vail.net,...

Mesa Laboratories sees sales, income drop slightly.
October 29, 1999... Mesa Laboratories Inc. saw sales and earnings decrease for the fiscal second quarter ended Sept. 31. Sales dropped to $1.8 million, down from $2 million during the same quarter last year. Income for Mesa Laboratories also decreased to...

Georgia company buys Denver businesses.
October 29, 1999... Paging firm buys Cellular Etc. and Action Page as part of acquisition strategy A Duluth, Ga.-based paging company is on a buying spree to get a piece of the consumer wireless messaging market. Armed with $8 million from Nashville,...

Largest Denver-Area Home Health Care Agencies.
October 29, 1999... Largest Denver-Area Home Health Care Agencies Patrick Sweeney (Ranked by number of patient visits) Rank/ Patient...

Denver's Shane Co. expands in California.
October 29, 1999... At a glance Shane Co. Business: Jewelry retailer Latest project: Plans to build a 9,300-square-foot store in Roseville, Calif., near Sacramento. Headquarters: Denver Financials: Does not discuss Number of stores:...

Envelope company shuts San Antonio unit.
October 29, 1999... Colorado company lays off 25 workers Mail-Well Envelope, the nation's largest manufacturer of custom envelopes, has ceased production at its downtown San Antonio facility and laid off 25 workers there. Englewood-based Mail-Well...

Division in Colorado the weak link for Oregon Steel.
October 29, 1999... Cheap imported steel moving across U.S. docks in record amounts has tested the mettle of domestic steel producers. Oregon Steel Mills Inc. was better prepared than many of its peers for the growing trade imbalance. Still, it's been rough...

Entrepreneur hoping to beckon blacks online.
October 29, 1999... Atlanta entrepreneur Rod Robinson wants to capture the attention of the fast-growing online black population, a group that has been slow to log onto the Internet. Just a few months after launching a Web site with content aimed at black...

Internet service provider asks: Y-Pay?
October 29, 1999... With partners like Ericsson Inc. and plans to hire 110 people in the next year, a small group of entrepreneurs is readying the latest salvo in the online wars: free Internet access. Based in Dallas, their Y-Pay.net Inc. will bring in...

FTC warns of free PCs.
October 29, 1999... The Federal Trade Commission has issued a consumer alert regarding free and low-cost PC offers. Although there has been no determination that fraudulent activity is taking place, is conducting' an investigation and warning consumers. ...

New Hard Rock Cafe boss tries to meet the challenge.
October 29, 1999... ORLANDO -- Pete Beaudrault listens to an Elvis Presley gospel album, one of 58 Presley CDs in his Hard Rock Cafe office. Behind him: a Presley mural. To his left: Presley's third guitar. But the music Beaudrault says he enjoys...

The baroness of buttons.
October 29, 1999... Entrepreneur creates international success story Jean Howard Barr may have made her fortune in buttons -- demanding impeccable quality every step of the way -- but even the most durable and elegant of the 7,757 styles fall short of...

Free help abounds on the 'Net.
October 29, 1999... Sites for small businesses increasing in popularity The number of professionals who help small businesses and budding entrepreneurs is growing day to day -- a testament to the fact that small businesses dominate the economy. But...

Colorado's fastest dozen make Inc.'s annual list.
October 29, 1999... Twelve Colorado companies, all but one of them in the Denver metro area, are ranked among the nation's 500 fastest-growing private companies by Inc. magazine in its 18th annual ranking. The list ranks companies according to sales growth...

NEWSMAKERS.
October 29, 1999... Accounting The Denver office of BDO Seidman, LLP promoted Eli Salame, Lesley Nelhams and Dirk Bradley to tax managers. In addition, Julie Zuckerman was promoted to audit manager. Rob Sistek is a new audit associate for the firm. ...

CHFA's Silver Anniversary.
October 29, 1999... Substantial accomplishments shared throughout Colorado In 1974, when the Colorado Housing and Finance Authority opened its doors, I doubt if anyone had the foresight to fully anticipate the dynamic housing finance force, small business...

CHFA board represents broad knowledge, perspectives.
October 29, 1999... Asking 11 people of different political persuasions, ages, and professional backgrounds to make a decision together could potentially create chaos. Instead, at CHFA, it results in good policy. Since CHFA opened its doors in 1974, the...

Housing programs evolve to meet market changes.
October 29, 1999... Since the Colorado General Assembly voted to establish CHFA in 1973, the state's economy has seen drastic changes - including peaks and valleys - that have greatly impacted the housing and small business markets. During the past 25 years, one...

Technology helps position CHFA for next century.
October 29, 1999... Twenty-five years ago, when CHFA first opened for business, adding machines, typewriters and ledger pads were the norm. As Jim Roberts, CHFA's legal director, recalls, "When I was hired in the fall of 1974, I was given pens, paper, scissors,...

Legislative actions impact CHFA's work.
October 29, 1999... Throughout the past 25 years, both national and state legislative activities have had an impact on the way CHFA performs the business of providing home ownership, rental housing and small business opportunities throughout Colorado. Some...

Commercial programs.
October 29, 1999... Business loans help economy, environment When Kent Garvin bought Colorado Iron and Metal in 1995, its annual sales totaled $225,000. The Fort Collins company will close 1999 with about $2 million in sales on the books. Garvin...

Denver Dry Goods sets example for historic downtown buildings.(Statistical Data Included)
October 29, 1999... When the May Co. vacated the When Denver Dry Goods Building in 1987, it was part of a trend of retail stores leaving downtown Denver. The Denver Urban Renewal Authority (DURA) bought the building from the May Co. in 1988 for $6 million. At...

`Good partners make good deals'.
October 29, 1999... "When people hear 'affordable housing' they think of the projects. Cabrini Green or Watts," said Barry Serlis, who has been developing affordable housing in Colorado for more than 15 years. Serlis is president of Lorilisa Inc., his consulting...

Bond volume earns high rating.
October 29, 1999... CHFA's issuance of 15 bond offerings totaling $998.59 million between 1995 and 1998 ranks the Authority in the top three percent of the 6,000 municipal bond issuers in the country during the period at 150th, according to the Municipal Issuers...

Affordable housing passes test of time.
October 29, 1999... In 1988, when Erma St. Jacques was 62, the Karmelkorn franchise that she had purchased with her brother-in-law unexpectedly folded. St. Jacques found herself without money and too old to wait tables as she had before starting the business ...

Partners critical to CHFA's success.
October 29, 1999... CHFA doesn't work in a vacuum. In fact, for affordable housing to be built through any process, it takes a variety of players. In CHFA's case, it takes investment bankers, trustees, mortgage lenders, nonprofit and forprofit housing...

The Colorado Housing and Finance Authority.
October 29, 1999... The Colorado Housing and Finance Authority offers a variety of home ownership, rental housing development, and small business financing opportunities through its production divisions. Here is an index of products available through CHFA.

ACCESS Program.
October 29, 1999... A real estate financing program that provides a first mortgage loan with the Small Business Administration's (SBA) 504 program. Through CHFA's loan, a major portion, or all of the first mortgage that would otherwise be at a variable rate, is...

Quality Investment Capital (QIC) Program.
October 29, 1999... A loan program administered by CHFA that provides fixed-rate financing for up to 25 years for small business loans guaranteed by the SBA. Eligible uses of funds include working capital, equipment and real estate loans.

Quality Agricultural Loan (QAL) Program.
October 29, 1999... Established to purchase the guaranteed portion of Farm Service Agency (FSA) loans and fix the interest at a below-market rate for up to 25 years. Loans are available to finance the purchase of land and equipment or machinery that is farm- or...

Rural Development Loan Program (RDLP).
October 29, 1999... Designed to provide financing specifically for business projects in rural areas. CHFA makes direct loans for real estate and equipment at a fixed rate with up to a 20-year amortization. Lender-originated working capital loans can also be...

Colorado Credit Reserve (CCR).
October 29, 1999... A program for small businesses in need of financing in amounts less than $150,000. Working through private lenders, CHFA provides funds to minimize the lender's risk as an incentive for loans to be made available to locally owned businesses....

CHFA Business and Industry Program I (B&I I).
October 29, 1999... Provides small business loans for businesses residing in larger rural communities. The loans, which may be used for real estate, equipment or working capital, are made directly by CHFA and partially guaranteed by Rural Business Service (RBS).

CHFA Business and Industry Program II (B&I II).
October 29, 1999... Established to purchase the guaranteed portion of RBS Business and Industry loans. CHFA will fix the interest at a below market rate for up to 25 years. Eligible uses of funds include working capital, equipment, and real estate loans.

RENEW Colorado Loan Program.
October 29, 1999... A loan program to finance the equipment, real estate, and working capital directly used by Colorado companies in waste diversion and recycling efforts. Extended amortization and special repayment terms are available.

Non Profit Real Estate Loan Program.
October 29, 1999... Provides loans for real estate purchases for nonprofit organizations. Loans have a fixed rate and are made directly by CHFA.

MRB Bond Program.
October 29, 1999... A first-mortgage financing program for eligible Colorado home buyers: a below-market interest rate loan and/or cash assistance to help pay loan expenses. Transactions must meet CHFA income and purchase price limits. In addition, all borrowers...

MCC Program.
October 29, 1999... Offers eligible Colorado home buyers the ability to save money on federal income taxes and use that savings to help pay monthly mortgage payment.

Down Payment Assistance Program.
October 29, 1999... Second-mortgage loans to assist home buyers with meeting the up-front costs of home ownership. Funds are administered by the Colorado Housing Assistance Corp. and can be used for the down payment, closing costs and prepaid finance charges.

Housing Opportunity Fund.
October 29, 1999... Flexible financing for eligible sponsors to relend under their special housing programs. Sponsors must be 501(c)(3) non-profit corporations or governmental agencies. Borrowers must be very low income and the loans must be secured by real...

Technical Assistance.
October 29, 1999... CHFA Home Ownership staff can offer technical assistance in designing affordable housing programs.

501(c)(3) Program.(loans for non-profit corporations and public housing authorities)(Brief Article)
October 29, 1999... Construction and permanent loans available to 501(c)(3) nonprofit corporations and public housing authorities through the issuance of tax-exempt bonds; may be for acquisition and rehabilitation, new construction or refinancing of low-income...

Private Activity Bond Program.
October 29, 1999... Tax-exempt bond financing for the construction or acquisition and rehabilitation of mixed-income multifamily rental housing; CHFA acts as issuer of the bonds and as mortgagee, providing credit enhancement through the FHA Risk Sharing Program....

Low Income Housing Tax Credits.
October 29, 1999... Federal income tax credit available to investors in low-income housing (new construction or acquisition and rehabilitation); developers must apply through a competitive process to CHFA for commitments of tax credits based on eligibility and...

Taxable Loan Program.
October 29, 1999... Construction and permanent financing for new construction or substantial rehabilitation projects which also are assisted with Low Income Housing Tax Credits.

Housing Fund.
October 29, 1999... Short-term (maximum two years) interim loans for nonprofit or public housing authority borrowers for pre-development costs, acquisition or construction of low-income housing; permanent financing must be committed.

Rental Acquisition Program.
October 29, 1999... Purchase and rehabilitation of moderately priced rental housing by CHFA for the purpose of maintaining long-term decent housing affordable to very low-income families.

Small Affordable Rental Transactions (SMART) Program.
October 29, 1999... Below-market-rate permanent financing of new construction and rehabilitation of developments containing 20 or fewer units involving loans under $1 million. This program is designed to provide for- profit and nonprofit developers with...

Dittemore played key role.(state legislator Betty Ann Dittemore)
October 29, 1999... Betty Ann Dittemore served in the state legislature when it was still largely made up of men, and she was more than able to hold her own. A member of the House of Representatives from 1969 through 1978, she chaired the House Local...

Independent living supports sports reporters lifestyle.(Matthew B. Schuman and the Greeley Center for Independence)
October 29, 1999... Matthew B. Schuman, 35, has lived in the handicap-accessible Camelot II complex of the Greeley Center for Independence since 1986. Camelot II is one of the rental properties in CHFA's Asset Management Division portfolio. The former...

New year brings new look for CHFA.(Colorado Housing and Finance Authority)
October 29, 1999... Organization expects continued success with new public image CHFA is the premier resource in Colorado for the financing of affordable housing and small business loans. Historically the three production divisions -- Home Ownership, Rental...

SBA pumps $290M into state economy in '99.(U.S. Small Business Administration's Colorado District Office)(Statistical Data Included)
October 29, 1999... The U.S. Small Business Administration's Colorado District Office, based in Denver, pumped more than $290 million into Colorado's economy through its small-business lending programs during fiscal year 1999, which ended Sept. 30. The office...

BTI conference planned.
October 29, 1999... The Boulder Technology Incubator's Fourth Annual Conference and Technology Fair is scheduled for Nov. 11 from 4:30 to 9 p.m. at the U S West Advanced Technology Facility in Boulder at 4001 Discovery Drive. The keynote speaker will be Dr....

Legal seminar has answers.
October 29, 1999... Owners of small businesses with legal questions can find some answers at a day-long seminar called "Covering Your Assets: A Small Business Legal Check-Up." The Colorado Bar Association and Denver Metro Area Small Business Development...

Retaining quality workers.(Brief Article)
October 29, 1999... The Colorado Republican Business Coalition will present a panel of experts examining "Hiring and Retaining Quality Workers" during a business breakfast conference Nov. 9 from 7:30 to 9 a.m. at Racine's Restaurant. Seating is limited and...

Take your place in history.(Colorado Historical Society membership drive)
October 29, 1999... The Colorado Historical Society is in the midst of a membership drive that is showcasing photographer John Fielder's unique history project. Fielder is serving as honorary chair for the "Take Your Place in History" campaign. His upcoming...

Honored for saving water.(AAA Plating Inc.)(Brief Article)
October 29, 1999... AAA Plating Inc. received the Conservation Award for outstanding contributions toward preserving "our most valuable resource" from H.J. Barry manager of Denver Water. The award was in recognition of the company's operational changes that...

South Metro Realtor awards.
October 29, 1999... The South Metro Denver Realtor Association recognized Rita Bauer Mills of Sanford Homes as the 1999 Affiliate of the Year. Kati Edler-Harken was awarded the 1999 Don B. Weist award.

Cribari & Gustafson, LLP.(Brief Article)
October 29, 1999... Cribari & Gustafson, LLP, a $1.4 million tax and small-business services practice, merged with Baird, Kurtz & Dobson, adding one partner and approximately 15 staff to Baird, Kurtz & Dobson's existing practice in Denver.

Lifetime Wealth Principles.(Brief Article)
October 29, 1999... John A. Scott formed Lifetime Wealth Principles, a financial consulting services company specializing in assisting corporate associates involved in a career transition, and J. Scott Securities, a NASD brokerage firm.

Lonnie Hart.(Brief Article)
October 29, 1999... Lonnie Hart, CPA, launched a full-service accounting and financial management firm in Denver. Hart had been vice president of finance for the National Potato Promotion Board in Denver. The location of Hart's firm is 9025 E. Kenyon Ave., Suite...

PflugCon Construction.(new company formation)(Brief Article)
October 29, 1999... Joseph L. Pflug, formerly of Fransen-Pittman Construction, and Thomas J. Blot formed PflugCon Construction, a commercial general contracting company based in Boulder County.

Arbitration clauses have clout with the court.
October 29, 1999... It's become increasingly common for parties involved in a business dispute to resolve their differences through a private arbitration rather than a lawsuit. The arbitration process, which now takes on many different forms, has earned the...