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U.S. private equity overhang reaches $400 billion  The cumulative amount of private equity fundraising overhang in the United States is $400 billion. After record fundraising years during 2007 and 2008, the Alliance of Merger & Acquisition Advisors and PitchBook Data Inc. say the gap between funds raised and equity invested has widened to an all-time… Continue Reading U.S. private equity overhang reaches $400 billion

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Congress considers credit card legislation

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Congress is considering legislation that would require the two major credit companies to negotiate hidden credit card processing fees. The fees cost the average household more than $400 annually. “In the middle of one of the worst recessions seen in decades, consumers can’t continue to pay artificially inflated prices just so the credit card industry can… Continue Reading Congress considers credit card legislation

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Addition to Marian House finished

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The Marian House Self Sufficiency Center, a 10,864-square-foot, two-story addition to the Marian House Soup Kitchen in downtown Colorado Springs, is finished and ready for use.

Matt Vineyard, J.E. Dunn Construction senior project manager for the building’s general contractor, said that phase one of the two-building campus, which was finished last summer and included a new kitchen, dining facilities, office and administrative areas totaling 15,725 square feet, has been open for one year. Phase two included the construction of the Self Sufficiency Center, which has a clinic, exam rooms, education areas and a donation center.

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Qwest to keep long-distance business

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DENVER (AP) – Qwest Communications International Inc. said today that it is calling off the auction for its nationwide long-haul data and telephone network.

The Denver-based phone company said the network was more valuable to the company than the amount it would raise in a sale.

Qwest did not say how much the bids it received were worth. News reports last week indicated Qwest received bids far below the $2 billion to $3 billion it wanted.

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GM will stop making medium-duty trucks

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DETROIT (AP) – General Motors says it will stop making medium-duty trucks by July 31 because it was unable to find a buyer for the operations. The company said in a statement that it will wind down production of the Chevrolet Kodiak and GMC Topkick trucks after searching for a buyer for four years. Both… Continue Reading GM will stop making medium-duty trucks

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The Statewide Grand Jury has indicted Ernie Colter on three counts of theft and one count of forgery for his role in fraudulently obtaining a loan for a client and then stealing some proceeds from a related real estate transaction. According to the indictment, Colter, acting as the originating broker for a real estate transaction,… Continue Reading Indictment obtained in mortgage fraud, theft case

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Two El Paso County legislators received a zero grade for their conservation votes from environmental advocate Colorado Conservation Voters. David Schultheis and Bill Cadmen both received zero percent, the first time any lawmaker received that designation since 2001. Scott Renfroe received the other zero score. The Conservation Scorecard catalogues votes cast by state lawmakers on 13 pieces… Continue Reading El Paso legislators rated for environmental votes

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Many fire departments are inundated with non-fire-related calls, and now an erroneous Federal Communications Commission press release has added fuel to that fire. The FCC issued a statement June 1, saying that the Colorado Springs Fire Department would help consumers prepare for the June 12 digital TV conversion. But no such arrangements were made with the CSFD. And… Continue Reading Need help with digital TV? Don’t call fire dept.

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Battle over sick leave heating up

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For the second year in a row, Congress is considering a federal paid sick leave policy. Known as the Healthy Families Act, the bill requires any employer with more than 15 workers to provide seven days of sick leave. The bill targets low- and middle-wage employees such as retail, grocery store and restaurant workers. Nearly… Continue Reading Battle over sick leave heating up

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Even as Congress debates overhauling the nation’s health care system, industry insiders are concerned about the implications of proposals being considered in Washington, D.C. Hospitals are concerned about costs; doctors about reimbursement rates and insurers are worried about competition with a lower-cost government plan. The plan under consideration only provides coverage for uninsured and under-insured… Continue Reading Obama health care overhaul not universally embraced

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