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Mountain Air Express Airlines will remain in business after a U.S. Bankruptcy Court judge ruled that it can keep four of its leased airplanes. Dornier, the planes’ lessor, had requested MAX return all five of the planes in its fleet due to numerous defaultings on lease payments. The court requires MAX to return just one… Continue Reading Court ruling keeps MAX flying — for now

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Dutch publisher to buy John Wiley & Sons

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Wolters Kluwer of Amsterdam, Netherlands plans to purchase John Wiley & Sons Inc., a Colorado Springs legal publications firm. The $2.5 billion deal should close in the fall and would result in layoffs for most of John Wiley’s 44 local employees. Some could be offered positions with the Dutch company in New York. John Wiley… Continue Reading Dutch publisher to buy John Wiley & Sons

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Mortgage lender offers reduced rates

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Colorado Rural Housing Development Corp., a nonprofit organization, is offering 6¨% mortgage rates to households which make 80% of the county’s median income and 6 3/4 loans to those making 120% of the median income. Colorado Rural Housing takes and processes applications for loans and the loans are closed and funded by local lenders.

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WestPac — Frontier still without name

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Western Pacific Airlines and Frontier Airlines are still discussing the name for the airline to be born this fall out of a merger. The two reportedly cannot come to a consensus on a proposed name, which isn’t known, but which has been speculated as one of the existing names. Airline analysts say Frontier’s name is… Continue Reading WestPac — Frontier still without name

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State Bank & Trust to open new branch

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Colorado Springs-based State Bank & Trust, the county’s fastest growing bank over the past five years, began construction last week on a new branch at Powers and Palmer Park. When it opens on Dec. 1, the site should employ approximately eight people. John Jackson, the bank’s president, said the bank selected the site because of… Continue Reading State Bank & Trust to open new branch

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Top broker joins Hendricks & Partners

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Doug Carter, formerly of Palmer McAllister, a Frederick Ross Company, has been hired by Phoenix-based Hendricks & Partners to work in its new Colorado Springs office and its Denver office. “Hendricks & Partners is a national commercial real estate firm specializing exclusively in the sale of large apartment properties throughout the western United States,” according… Continue Reading Top broker joins Hendricks & Partners

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Thirty-eight former employees of Walter Drake & Sons Inc. were abruptly left without jobs after an acquisition of the company by Foster & Gallagher Inc., a direct marketing firm based in Illinois. All of Drake’s 350 employees were laid off when the sale was finalized with the anticipation that most if not all would be… Continue Reading Company acquired by Foster & Gallagher

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AT&T hangs up on Springs center

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AT&T announced it would be closing its Colorado Springs long distance operator center, laying off 112 workers. The center, which connected its first operator-assisted long distance call in 1884, will close April 19. Technology has made many operator-assisted calls unnecessary. Since the breakup of AT&T, the company has trimmed operators and managers in long distance… Continue Reading AT&T hangs up on Springs center

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