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GM reports $38.7 billion loss

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The Associated Press General Motors Corp. today reported a $38.7 billion loss for 2007, the largest annual loss ever for an automotive company Executives said the company will make a new round of buyout offers to U.S. hourly workers in hopes of replacing some of them with lower-paid help. The earnings report and buyout offer… Continue Reading GM reports $38.7 billion loss

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A new law allows homeowners whose mortgage debt was partly or entirely forgiven during 2007 to claim special tax relief. The Mortgage Forgiveness Debt Relief Act of 2007, enacted Dec. 20, allows eligible homeowners to fill out newly revised Form 982 and attach it to their 2007 federal income tax return. Normally, debt forgiveness would… Continue Reading Law allows tax relief for mortgage debt forgiveness

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Colorado Springs may have topped Men’s Fitness magazine’s fittest cities in America list, but it didn’t even make it onto Forbes 25 smartest cities in America list, released this week. Nope, not even Denver or Pubelo made Forbes’ list, but Boulder, however, was No. 1 for the second consecutive year. The ratings are based on… Continue Reading Springs on fittest list – but not smartest list

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Hotel construction hot in 2008

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Hotel construction may be one of the few national bright areas for new construction in 2008, and a few local projects could make that the case locally, too. Lodging Econometrics, said that the further quarter “pipeline” rose 36 percent from the same quarter in 2006. Specifically, data through Jan. 25 showed projects already under construction,… Continue Reading Hotel construction hot in 2008

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County flu cases spike

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El Paso County experienced a dramatic rise in flu cases last month. “In January 2008, El Paso County reported 22 hospitalized individuals with the flu, which represents a marked difference as compared to January 2007 when only three cases were reported,” said Dr. Bernadette Albanese, medical director for the El Paso County Department of Health… Continue Reading County flu cases spike

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Dow Jones replacements made

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Dow Jones and Company announced that Bank of America Corp. and Chevron Corp. will replace Altria Group, Inc., and Honeywell International, Inc., in the Dow Jones Industrial Average, effective with the opening of trading on February 19. The stock index is 111 years old. These are the first changes since April 8, 2004, when three… Continue Reading Dow Jones replacements made

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Starbucks to offer some free wireless service

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The Associated Press SEATTLE _ Starbucks Corp. is teaming up with AT&T Inc. and will start offering a mix of free and paid wireless Internet service in many of its U.S. coffee shops, beginning this spring. The world’s largest specialty coffee retailer’s move ends a six-year partnership T-Mobile, which did not include free Wi-Fi and… Continue Reading Starbucks to offer some free wireless service

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More than 116,000 U.S. jobs and nearly $19 billion in investment could be lost in a single year if renewable energy tax credits are not extended by Congress. Navigant Consulting found that more than 76,000 jobs are at risk in the wind industry, in addition to about 40,000 in the solar industry. Colorado is one… Continue Reading Loss of renewable energy tax credit would cost jobs, billions in investment

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More grants from Governor’s Energy Office

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The Governor’s Energy Office has selected 12 matching grant award recipients for the 2008 Colorado Energy Star New Homes program. Colorado Springs Utilities, representing the City of Colorado Springs, was one of the winners. The program encourages city and county officials to work with residential builders to help them earn the U.S. Environmental Protection Agency’s… Continue Reading More grants from Governor’s Energy Office

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OAK BROOK, Ill. (AP) _ McDonald’s Corp. today reported strong sales increases in Europe and modest gains in the United States last month, easing investor concerns about fallout from an economic slowdown. The world’s largest fast-food chain said same-store sales rose 5.7 percent in January, driven by the international growth and the weak dollar which… Continue Reading McDonald’s 5.7 percent January sales boost eases investor concerns; stock jumps

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