Adams exits retirement to merge with Summit Economics

Filed under: Banking & Finance | Tags:,

One of Colorado’s most distinguished economists, Tucker Hart Adams, has merged her company, The Adams Group, with Summit Economics.

Adams founded Adams Group, a regional economic consulting firm, in 1989.

She has been in semi-retirement for the past two years. After retiring in 2008 as regional economist for U.S. Bank, she stopped making economic forecasts, or predictions, which had been her hallmark over the span of three decades.

Known for her no-nonsense approach, she was one of the first economists to predict the Great Recession — back in 2005, saying, “it’s not a matter of if, but when.”

A national speaker for years, when interviewed, she’s been known to admonish the general public for its rampant consumerism and low savings rates.

As the recession deepened, more business owners and consumers came to appreciate her tough-love approach. She certainly knew what she was talking about.

Recently, she joked that when she retired in 2008, the economy fell apart as she had predicted, but “now that I’ve started working again, the economy starts recovering.”

In yet another step toward culling her schedule, Adams has eschewed further speaking engagements in order to travel and spend time with family, children and grandchildren.

Part of this grand plan was the merger of her company, The Adams Group, with Summit Economics.

This gives her the best of both worlds — leisure time, and the ability to do the specific work she enjoys most.

“I decided at the beginning of this year, no more speeches. But I love doing impact studies. This (merger) gives me time to travel and do studies,” Adams said.

She will do some of the presentations, but the bulk of the work will be done by Summit’s Paul Rochette, Tom Binnings, and Mike Anderson, all of whom are senior partners. Adams and Dave Bamberger, managing director, will primarily be in supervisory roles.

Beyond her firm, Adams in 1994 founded the American Russian Collaborative Enterprises, or ARCHES, working with Russian and American companies to find suitable business partners, write business and financial plans understandable to western investors, and provide cross-cultural training in the business and social customs of both countries.

Earlier, from 1978 to 1988, she was vice president and chief economist for United Banks of Colorado, providing economic research, analysis and forecasting of the U.S., Mountain West and Colorado economies.

Adams also has been an adjunct professor at Moscow State University, University of Denver and University of Colorado. In addition, she published a newsletter, “Today’s Economy: A Colorado Viewpoint,” for 30 years, and writes a monthly column for ColoradoBiz magazine.

Summit was founded in 2008 by Bamberger, Binnings and Rochette. The firm does research and consulting services in applied economics, public policy, municipal finance and business strategy development.

Alliance Financial growth

Alliance Financial Partners, a 25-year banking firm, opened a downtown Colorado Springs branch at 130 E. Kiowa St. in January.

Since then, the company has expanded its local lending to $16 million per month.

The company, which specializes in private-equity lending, is now a full-service mortgage banker, and can approve, underwrite, close, and fund a loan all in one location.

Typically, this speeds up loan-closure time by 25 percent, said President Salvatore Como.

Through its subsidiary, Alliance Government Funding, the company is an approved Federal Housing Administration and U.S. Department of Veterans Administration lender, and offers all government-sponsored loan products.

Rebecca Tonn can be reached at rebecca.tonn@csbj.com or 719-329-5229. Friend her on Facebook.