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(A.P.) The U.S. trade deficit rose during March for the first time since last July as the global recession cut sharply into sales of American exports. The Commerce Department reported that the deficit widened to $27.6 billion during the month, slightly lower than the $29 billion gap that economists had forecast. The March deficit was… Continue Reading Trade deficit widens to $27.6 billion in March

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AAA predicts that drivers will hit the highways in droves this Memorial Day weekend, lured by low gas prices. The national average of U.S. retail gasoline prices dropped to $2.24 per gallon today, down nearly 40 percent from $3.71 per gallon a year ago, AAA said. Trips by automobile will increase 2.7 percent, from 26.3 million… Continue Reading Low gas prices to prompt Memorial Day travel

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Gov. Bill Ritter will sign a cyclist protection bill, Senate Bill 148, this evening at the Penrose Library in downtown Colorado Springs. The signing event is scheduled from 5:30 to 9 p.m. The bill, sponsored by Rep. Mike Merrifield and Sen. Greg Brophy, will require motorists to give cyclists at least three feet of space… Continue Reading Gov. Ritter to sign cyclists’ bill today in Springs

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On Friday, we reported on our Web site that the U.S. Olympic Committee had terminated its $52 million agreement with the City of Colorado Springs and LandCo Equity Partners. USOC spokesman Darryl Seibel confirmed the story in an e-mail, which he subsequently sent to other media outlets. But what is even more troubling than the… Continue Reading CSBJ View: City needs to come clean about USOC deal

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First-class postage climbs 2 cents

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WASHINGTON (AP) – The post office wants two more pennies for your thoughts. The price of a first-class stamp for mailing a letter – or paying a bill – climbed to 44 cents Monday, though folks who planned ahead and stocked up on Forever stamps will still be paying the lower rate. It’s the third… Continue Reading First-class postage climbs 2 cents

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The U.S. Olympic Committee has notified the city that it is withdrawing from the “Economic Development Agreement “executed by the city, LandCo and the USOC on March 31, 2008.

“The USOC has terminated the Economic Development Agreement, the Design Build Agreement and Affiliation Agreement amongst the city, LandCo and the USOC,” USOC spokesman Darryl Seibel wrote in an e-mail. “That said, we are still in discussions with the city and LandCo to find a resolution to the open issues and, if possible, see these projects fully developed and delivered.”

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Wholesale inventories fell for a seventh straight month during March, according to a Commerce Department report released today. The drop amounted to 1.6 percent decline, following a 1.7 percent fall during February. Wholesale inventories are goods held by distributors who buy from manufacturers and sell to retailers. Economists reason the drop in stockpiles means retailers… Continue Reading Wholesale inventories fall for a seventh month

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Results of the banking stress tests shouldn’t be causing stress. While most reports call attention to the 10 banks that need additional capital, only one, GMAC, will need outside assistance. “The banking industry is well positioned to thrive even within the government’s theoretical doomsday scenario,” said Don Childears, CEO of Colorado Bankers Association. All 19 of the large… Continue Reading Stress tests don’t uncover doomsday results

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Commercial real estate lending tighter

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Office, retail and industrial investors might book that long-awaited vacation to Tahiti this year. They certainly won’t be pouring over commercial real estate offerings – at least based on current lending trends. The Federal Reserve is reporting that about 65 percent of domestic banks, on net, tightening their lending standards on commercial real estate loans… Continue Reading Commercial real estate lending tighter

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American businesses have seldom created products for or aimed advertising at the 55-plus demographic. Preferring to concentrate upon the next generation of consumers, the 18-34 age cohort has been the primary target of advertisers for decades, or at least since Pepsi-Cola’s discovery of “The Pepsi Generation.” The theory was – and is – a simple… Continue Reading Advertisers shift focus away from 18-34 demographic

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