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Thredgold on recession odds, long-term forecast

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Vectra Bank Colorado corporate economist Jeff Thredgold said the likelihood of recession is 50 percent, although no one will know whether it’s happened until early next year. Thredgold’s long-term economic forecast includes the following highlights: National unemployment will move modestly higher this year before declining during 2009. Inflation, which has been at its highest level… Continue Reading Thredgold on recession odds, long-term forecast

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Employee compensation to rise this year

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The majority of senior executives and managers expect compensation to their subordinates to increase this year. More than three-quarters (77 percent) of business leaders expect to increase employee compensation, based on responses to a nationwide survey of 251 senior executives and managers conducted by NFI Research. More than half cite business conditions (57 percent) and… Continue Reading Employee compensation to rise this year

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Cable damage cuts Middle East Internet service

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The Associated Press Internet outages disrupted business and personal usage across a wide swath of the Middle East on Wednesday after an undersea cable in the Mediterranean was damaged, government officials and Internet service providers said. In Cairo, the Ministry of Communications and Information Technology said the cut in the international communications cable had led… Continue Reading Cable damage cuts Middle East Internet service

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The Colorado Department of Corrections’ southern Colorado office expects to begin an official search for a new location by the end of the year. The regional headquarters is at 2862 Janitell Road in Colorado Springs, where the agency leases the entire 65,000-square-foot building. That lease expires during 2010. A request for proposals will be distributed… Continue Reading Department of Corrections seeking expanded facility

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More than 2.2 million foreclosure filings were reported nationally during 2007, an increase of 75 percent compared to 2006. RealtyTrac’s 2007 U.S. Foreclosure Market report also shows that more than 1 percent of all U.S. households were in some stage of foreclosure during the year, up from 0.58 percent during 2006. Nearly 216,000 foreclosure filings… Continue Reading Nearly 2 percent of all Colorado homes in foreclosure

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XAware receives $7.4 million in venture funding

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XAware Inc. has completed a $7.4 million round of venture funding. The additional capital will enable the company to continue the growth of its open source business model. The round was led by vSpring Capital. Firms participating included new investor GMT Capital, a $3.5 billion hedge fund based in Atlanta, and existing investors vSpring Capital,… Continue Reading XAware receives $7.4 million in venture funding

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The City of Colorado Springs Parks, Recreation and Cultural Services will receive a $120,000 grant from the Phil Long Community Fund and Denver Broncos Charities to help build its destination skate park in Memorial Park. The new facility, which will be just north of the Sertich Ice Center, will be designed to accommodate inline skaters,… Continue Reading City receiving $120,000 for destination skate park

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EBay to cut listing charges up to 50 percent

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The Associated Press EBay Inc. said Tuesday it will cut by up to 50 percent the fees it charges sellers to list their goods online in an effort to boost listings and keep pace with other burgeoning e-commerce sites. To balance the fee cut, the company plans to increase its commission on items that do… Continue Reading EBay to cut listing charges up to 50 percent

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Government Fleet magazine has ranked the City of Colorado Springs as the top municipal BioDiesel Fleet in the nation. The city also was No. 17 in the overall Public Sector Alternative-Fueled Fleet rankings. Since 2003, more than 2,400 city vehicles or equipment have run on biodiesel. To date, Colorado Springs has used 1.58 million gallons… Continue Reading City ranks as top municipal biodiesel fleet in nation

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Dems to vote on stimulus package

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The Associated Press Senate Democrats will move today to add to a $150 billion economic stimulus package that includes rebates for senior citizens living on Social Security and an extension of unemployment benefits. The action will likely set up a clash with the White House and House leaders who are pushing a narrower package. As… Continue Reading Dems to vote on stimulus package

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