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Retailers post August sales declines

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NEW YORK (AP) – Retailers on Thursday posted sales declines for August as shoppers held back on back-to-school purchases and continued to focus on necessities, but overall results came in ahead of analyst predictions. A monthly compilation of 31 retailers’ results by The International Council of Shopping Centers and Goldman Sachs showed sales in established… Continue Reading Retailers post August sales declines

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El Paso County is reporting a threefold jump in use tax collections. In spite of a nearly 20 percent drop in building valuation for the first eight months of the year, use tax collections on building materials increased threefold during the same period. From April through August, collections of use tax on building materials is… Continue Reading County use tax collections up 373 percent

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Think you could do a better job than Gov. Bill Ritter balancing the state budget?

Here’s your chance.

Colorado State University has developed the Colorado Backseat Budgeter, which gives Web users a chance to balance a mock state budget.
Continue Reading Take a shot at balancing the state budget

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Earlier this year, Colorado joined 13 other states in banning the practice of texting while driving, but according to some insurance industry officials, the law’s purview is not limited to individuals. Employers are now concerned that they may be held liable for accidents caused by their employees while driving and conducting work-related conversations on cell… Continue Reading Insurance Institute warns of texting while driving and company liability

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Colorado will receive $3.5 million as part of two settlements with drug manufacturer Pfizer, including $2.8 million as part of a $1 billion Medicaid multistate settlement and $705,000 as part of a $33 million non-Medicaid multistate settlement. Continue Reading Colorado gets $3.5 million from drug settlement

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Company reports more than $1 billion in debt Freedom Communications Inc., owner of more than 30 daily newspapers including The Gazette, filed for Chapter 11 bankruptcy protection in U. S. Bankruptcy Court in Wilmington, Del., this morning. According to Bloomberg News, the company said that it has assets of between $500 million and $1 billion, eclipsed… Continue Reading Freedom bankruptcy official

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SBA offers help in getting federal contracts

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The Small Business Administration has launched an online training course, “Recovery Act Opportunities: How to Win Federal Contracts,” to teach small businesses how to compete for federal contracts. As part of the federal initiative announced last month, the SBA and Department of Commerce are offering the course for small business owners. The course will help business… Continue Reading SBA offers help in getting federal contracts

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Stocks plunge, despite manufacturing growth

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NEW YORK – The stock market’s rally finally gave way on Tuesday, sending shares sharply lower as investors concluded that a six-month surge was overdone. At midday, all the major indexes fell more than 1.5 percent, including the Dow Jones industrials, which lost about 165 points. Stocks moved in tandem with oil prices, which fell… Continue Reading Stocks plunge, despite manufacturing growth

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A new survey finds growing confidence in Americans’ ability to pay for health care costs, but it’s young adults who are most supportive of health reform plans. A Thomson Reuters survey published Monday found that “fewer Americans are afraid that they will be unable to pay for healthcare services and fewer expect to postpone medical… Continue Reading More people confident they can pay medical bills

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After rising above neutral growth during July, the overall index for the Mountain States region, and for Colorado, sank below 50 for August.   The index, based on a survey of supply managers in Colorado, Utah and Wyoming, points to a wilting economic recovery.     The Business Conditions Index slipped from 51.5 during July to 47,… Continue Reading Job losses and rising inflationary pressure push index down

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