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| July 16, 2008 |
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Small business index up in June
DENVER - The climate for small businesses in Colorado improved during June despite inflation, according to the latest Vectra Bank Small Business Index.
The index, which measures economic conditions from the viewpoint of a small business owner or manager, was up to 87.4 in June from 86.6 in May. Rising inflation has hurt small businesses; however, Colorado's increased unemployment rate helped to boost the index.
"Colorado small business owners -- and all residents really -- are feeling the pinch of higher prices. One of the most significant impacts of inflation on the typical small business is that its customers end up with less money to spend," explained economist Jeff Thredgold, who compiles the index. "The good news in Colorado? Jobs continue to be created at one of the highest rates in the nation. This brings more income -- which results in more money to spend with Colorado small businesses."
The unemployment rate in Colorado increased to 4.9 percent in June, compared to 4.4 percent for the preceding three months. However, the state also increased it total employment by 34,600 during the last 12 months. Comparatively, the nation saw a net job loss of 62,000 during the same period. The U.S. Small Business Index was 65.3 in June, compared to 67.7 the previous month. |
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MSEC endorses Amendment 47
DENVER - Joining in to the mixed debate between business groups in the state, the Mountain States Employers Council and two more chambers of commerce recently announced endorsements of proposed Colorado Constitutional Amendment 47.
Amendment 47, known at the "Right to Work" initiative, would ban arrangements in which workers must either join the union or pay fees to cover the cost of representation if approved by voters in November.
"Our mission is to support effective employee/employer relations, and Amendment 47 will help us advance that goal," said Michael Severns, president and CEO of the Mountain States Employers Council. "Amendment 47 is a win-win situation -- it's good for employers and employees, so we are proud to endorse the Colorado Right to Work Amendment."
Joining the MSEC are Rifle Area and Huerfano County chambers of commerce.
In June, the Northern Colorado Legislative Alliance adopted a resolution calling for proponents of the Right-to-Work initiative and labor-initiated proposed counter ballot measures to retract their proposals.
The NCLA's member organizations -- the Fort Collins Area, Loveland and Greeley chambers of commerce and the Northern Colorado Economic Development Corp. -- approved the resolution.
The resolution established that the organization supports the principles of right-to-work, but does not support a change to the state constitution. |
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Greeley great for business
GREELEY - Weld County is one of the best places in the country to do business, according to the recent ranking by INC.com and NewGeography.com.
The Greeley metropolitan statistical area ranked No. 25 on the annual list of "Best U.S. Cities for Doing Business Today." The ranking took into account various measures of employment growth, based on data from the U.S. Bureau of Labor Statistics. Upstate Colorado Economic Development, an organization focused on boosting employment in Weld County, indicated that the county's primary employers created more than 2,000 new jobs last year. The Greeley MSA ranked No. 64 on last year's list.
The Fort Collins-Loveland MSA ranked No. 53 on this year's list, up from No. 141 last year. Other Colorado MSAs to rank in the top 100 were Grand Junction at No. 11 and Pueblo at No. 70. The list included all 335 metro areas for which full data sets were available. |
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Windsor chamber hosts SBDC director monthly
WINDSOR - The director of the Greeley/Weld Small Business Development Center will begin to hold office hours in Windsor.
Dick Pickett will begin holding office hours at the Windsor Chamber of Commerce office once a month. The hours will be on the fourth Thursday of each month, corresponding with the chamber's Before Hours event.
Part of the Colorado SBCD network, the agency helps small businesses by providing free counseling and training programs. Pickett will be in Windsor from 9 a.m. to noon on July 24, immediately following the chamber's Business Before Hours event at the Chef's Basket, 1345 Water Valley Parkway. Appointments with Pickett can be set up by calling his office at 970-352-3661. |
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Marler named CEO of CSU Ventures
FORT COLLINS - A CSU Ventures board member will take the executive reigns from Mark Wdowik, allowing Wdowik to launch a new for-profit funding endeavor.
Ronald Marler will enter the role of CEO for CSU Ventures, a subsidiary of the Colorado State University Research Foundation. CSU Ventures is responsible for governing the enterprise arm of Colorado State University's superclusters. Marler has more than 30 years of experience in pharmaceutical research and product development and serves as an administrator at the Mayo Clinic Arizona and as chief scientific officer for Gaithersburg, Md.-based Bridge Laboratories.
Wdowik served as CEO of CSU Ventures since its inception in February 2007. He will now focus on the launch of a new CSU initiative aimed at developing a for-profit seed investment fund. The goal is to fund CSU startups and key research partners. |
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national news
Bernanke: Inflation too high, stability a priority
WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke told a House of Representatives panel on Wednesday that fighting inflation is a top priority and acknowledged that most Americans feel the economy is in recession-like conditions.
FBI mortgage probe expands to 21 firms from 19
WASHINGTON (Reuters) - The FBI's investigation into potential corporate fraud in the U.S. home mortgage industry now encompasses 21 companies, up from 19 reported in April, a bureau spokesman said on Wednesday.
Fed's Hoenig: don't wait too long to raise rates
DURANGO, Colo. (Reuters) - The U.S. Federal Reserve must not wait too long before raising interest rates or it risks a serious problem with inflation, one of its top policy-makers said on Wednesday.
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