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Auto dealers warned about Cash for Clunkers

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The Cash for Clunkers – or the Car Allowance Rebate System – no longer guarantees automobile dealers that they’ll be reimbursed for cars sold. The Colorado Automobile Dealers Association has warned its members to be cautious of selling any more cars under the program, unless CARS receives additional funding. The program, which offers rebates of $3,500 to $4,500… Continue Reading Auto dealers warned about Cash for Clunkers

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WASHINGTON – Construction spending rose for the second time in three months in June as residential building increased and government-funded infrastructure projects jumped. The report provides fresh evidence that the housing sector may be recovering, while the rise in government spending was partly because of the Obama administration’s $787 billion stimulus package, economists said. The… Continue Reading Construction spending rises unexpectedly nationwide

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Foreclosures stabilize in key states

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Even as Americans suffer rising unemployment, foreclosure rates in three states hit hardest by the housing bust – California, Arizona and Florida – stabilized in June, offering hope that the worst of the real estate crisis is over. Continue Reading Foreclosures stabilize in key states

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As City Councilman Bernie Herpin predicted several weeks ago, the new U.S. Olympic Committee deal is very much like the old USOC deal, except that the city is now the only paymaster.

The cost of the deal: more than $50 million. Continue Reading City pays, USOC stays

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Colorado Industrial Packaging sold

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Colorado Industrial Packaging has been acquired by two members of the company’s former management team for an undisclosed price. The Colorado Springs-based firm was founded during 1994 and was purchased from prior owner Bob Bartlett, who had owned the company for about seven years. The sale was brokered by Don Smith of Peak Business Brokers.… Continue Reading Colorado Industrial Packaging sold

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Most public employees in El Paso County must, by state law, join the Colorado Public Employees Retirement Association.PERA covers the employees of Memorial Health System, Colorado Springs Utilities, the City of Colorado Springs and of every public school district in the county – but not employees of El Paso County. County employees, as well as… Continue Reading County pension plan at crossroads

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After the somewhat disastrous launch of Windows Vista — largely ignored by businesses as they stuck with the XP version of the operating system — Microsoft is preparing another debut. Windows 7 is scheduled to be released Oct. 22, and some computer analysts who have been working with a beta version say that this time,… Continue Reading New Windows OS better than Vista, but you’ll need top-notch equipment

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Recession might have permanent, albeit small, impact on consumer attitudes American consumers were gleefully snapping up HDTVs, designer shoes and sport sedans — then the recession hit. Economists and consumers for the doom-and-gloom team have called it the next Great Depression. Optimists see the 19-month recession, the longest since World War II, as something the… Continue Reading Good ol’ American spending likely to return

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Faster than the speed of law

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Internet, technology out-pacing rules, regulations The Internet has become a cyber version of the Wild West, where few rules exist to curb an enthusiastic fight about ownership and ideas. The ease of communicating and marketing via the Internet has brought about a pitched struggle for copyrights, trademarks and other money-making endeavors. “It’s just that the… Continue Reading Faster than the speed of law

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It’s time to check the pulse of Colorado’s economy — either that or there was a dearth of local financial seminars this week. Go figure. It’s July and half the city, it would seem, is on vacation. Notwithstanding, yours truly still remembers the good old days, say, last summer, when she interviewed economists who said… Continue Reading Believe it: There is a light at end of recession tunnel

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