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| August 12, 2009 |
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Fort Collins-Loveland volunteer efforts near the top
WASHINGTON, D.C. - The Loveland-Fort Collins area ranks seventh among the nation's mid-sized cities in volunteering, according to the newest Volunteering in America report.
The report analyzed data from 2005 to 2008 collected in a monthly survey of about 60,000 households by the U.S. Census Bureau for the Bureau of Labor Statistics.
The Loveland-Fort Collins metro area tied with Greenville, S.C. with a 38.3 percent volunteer rate. Provo-Orem, Utah, was the top mid-sized area with a volunteer rate of 62.9 percent. Greeley ranked 25 out of the 75 mid-sized areas with a 32.8 percent volunteer rate.
Loveland-Fort Collins volunteers contributed $200.7 million worth of volunteer time from 2005 to 2006, while the value of Greeley's volunteerism was $192.9 million.
On the large cities list, Denver tied Washington, D.C., for No. 9 with a 30.9 percent volunteer rate. Minneapolis-St. Paul, Minn. was the top large city with a 38.4 percent rate.
The report also found that the number of volunteers in the nation from 2007 to 2008 increased by about 1 million. In Colorado, there were 1.2 million volunteers who committed to 154.1 million hours of service from 2006 through 2008, which was valued at $3.1 billion. |
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CSU engineering profs receive $1 million grant
FORT COLLINS - Engineering professors at Colorado State University received a $1 million National Science Foundation grant to develop more robust computing and communications systems.
Professors H.J. Siegel, Tony Maciejewski and Arnold Rosenberg will work with a team of graduate and undergraduate students to design models and mathematical and algorithmic tools to derive robust resource management schemes as well as to quantify the probability of system failures. The goal is to eventually overcome the vulnerabilities posed by natural and manmade disasters.
"Uncertainty is the enemy of a robust computer system, but this grant will help us minimize damaging failures and work to build computer systems that perform well through crises," said Maciejewski, head of the Electrical and Computer Engineering department in CSU's College of Engineering, in a prepared statement. "As computer systems become more integrated with everyday life, it's really important that they continue to perform critical functions even when there's an unpredicted circumstance."
The CSU team will collaborate with Longmont-based DigitalGlobe, the National Center for Atmospheric Research and the University of Colorado at Boulder.
The award is funded through the American Recovery and Reinvestment Act. |
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Northern Colorado Women of Influence breakfast sold out
LOVELAND - Thursday's inaugural Northern Colorado Women of Influence event is now sold out. With nearly 400 guests coming to help the Northern Colorado Business Report celebrate award recipients and nominees alike reservations are no longer available, and tickets will not be available at the door. Profiles of the 11 honorees will be published in Friday's edition of the Business Report.
Thanks to everyone who has made this event a success! |
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Guaranty nets $59 million from private placement
DENVER - Guaranty Bancorp (Nasdaq: GBNK) completed its previously announced capital raise, netting $59.1 million through a private placement of preferred stock.
"We are pleased to announce the closing of $59.1 million of capital. Prior to this capital issuance, the company had an equity ratio-GAAP of 7.9 percent and a tangible equity ratio of 6.83 percent at June 30, 2009," said Guaranty President and CEO Dan Quinn, in the announcement. "This issuance of preferred stock significantly enhances the company's capital position. Giving effect to this new capital, the equity ratio-GAAP and tangible equity ratio on a pro-forma basis at June 30, 2009 are 10.57 percent and 9.56 percent, respectively."
Guaranty operates 34 branches in Colorado, 11 in Larimer and Weld counties.
The company entered into an agreement in May with investors Patriot Financial Partners L.P.; Patriot Financial Partners Parallel L.P.; Relational Investors Mid-Cap Fund I L.P.; Relational Investors Mid-Cap Fund II L.P.; and Castle Creek Capital Partners III L.P. to sell the mandatorially convertible Series A preferred stock.
Castle Creek is one of Guaranty's largest shareholders. The other two investors are new to the company. Castle Creek, headed by John Eggemeyer, originally invested in Northern Colorado's Centennial Bank of the West in 2004. Centennial was later merged into Denver-based Guaranty.
As part of the purchase agreement with Patriot Financial, Guaranty appointed Patriot managing partner Kirk Wycoff to its board of directors, as well as the audit and corporate risk committees.
Guaranty stock was trading around $1.76 today, down from $1.93 when the capital deal was announced on May 21. |
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national news
Fed extends time but not amount of debt buy
WASHINGTON (Reuters) - The U.S. Federal Reserve said on Wednesday the economy was showing signs of leveling out after 20 months of recession and it will extend the duration but not the size of a program to buy long-term government securities to minimize any disruptions from completing it.
Microsoft, Nokia form alliance to rival RIM
SEATTLE/HELSINKI (Reuters) - Microsoft Corp and Nokia announced an alliance on Wednesday to bring business software to smartphones and counter the dominance of Research in Motion Ltd's BlackBerry.
Oil rises as optimism outweighs U.S. inventory build
NEW YORK (Reuters) - Oil rose on Wednesday as stock market gains raised optimism about the economy, offsetting concerns about rising inventories and weak demand in top consumer the United States.
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