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Freedom CEO: Bankruptcy possible

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In an interview with the Orange County Register published earlier this week, Burl Osborne, the interim CEO of Freedom Communications, said that the company is in discussions with its bankers about “restructuring.”

Freedom, which owns dozens of media properties, including the Register and the Colorado Springs Gazette, is more than $700 million in debt.

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Colorado Attorney General John Suthers’ office has banned seven loan-modification companies from doing business in Colorado because they either failed to deliver promised results or engaged in deceptive advertising. The firms are Eugene Alkana Law Firm, doing business as Legal Home Solutions; Infinity Group Funding; NC Home Solutions; Traut Law Group; Nationwide Modification Center Inc.; Rescue… Continue Reading AG bans seven loan companies from doing business in Colorado

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Yesterday, President Barack Obama proposed the American Graduation Initiative, to increase college graduation rates, a prospect Pikes Peak Community College President Dr. Anthony Kinkel called the most efficient use of tax-payer dollars. “I can guarantee that if Congress can pass this initiative,” Kinkel said, “the return on investment with community colleges will be higher than… Continue Reading PPCC’s Kinkel applauds Graduation Initiative plan

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One survey indicates the national retirement age is rising as a result of the economic recession, and while Coloradoans are working further into their golden years, it might not be just because of poor economic times. Survey results released this week by Oakland, Calif.-based Golden Gateway Financial said half of all seniors’ net worth has decreased by 10… Continue Reading Recession has retirement age creeping upward

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Kaiser fined for conduct violations

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Kaiser Permanente Insurance Company and Kaiser Foundation Health Plan of Colorado have been fined for several conduct violations. Kaiser health plan was fined $201,000, and the insurance company was fined $166,000. “The violations were pretty typical for a large insurance company,” said Carol O’Bryan, director of market regulation for the Division of Insurance. “We have… Continue Reading Kaiser fined for conduct violations

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Merck & Co. Inc, Schering-Plough Corp. and a joint venture of the two companies, MSP Singapore Company, have agreed to settle with 35 states, including Colorado, after it delayed the release of negative results from a clinical trial of its cholesterol lowering drug Vytorin. Colorado will receive $100,000 of the $5.4 million the companies have… Continue Reading Merck pays $5.4 million for withholding negative information

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Colorado makes a lot of Top Ten lists, but not this time. Instead, California is the most patent-rich state with 22,202 new patents registered during 2008. Texas was second with 6,800, followed by New York, Washington, Massachusetts, Michigan, Illinois, New Jersey, Ohio and Minnesota. The current top-ten patent rankings by state, technology category, and company were… Continue Reading California, IBM continue to lead in ten patent rankings

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The Colorado Springs Leadership Institute will host a forum from 5:30 to 7 p.m. tonight at the Carnegie Room of the Penrose Library, 20 N. Cascade Ave. Presenters will offer the latest facts about the city revenue shortfall. “Unless we find major solutions now, we will see huge cuts in programs and services in 2010, which… Continue Reading Meeting tonight to address city revenue shortfall

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DoD awards health provider contracts

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TriWest will once again provide the managed care support to the Department of Defense program for the state of Colorado. The Department of Defense announced the contract – estimated at a worth of more than $16.9 billion – earlier this week. The contract will assist the military health system in 21 other western and mid-western… Continue Reading DoD awards health provider contracts

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Hospitals oppose deal to cut $155 billion

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At least one local hospital executive says the nation’s hospitals cannot afford a $155-billion-cut to Medicare and Medicaid.
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