The Colorado Springs Business Journal
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Business Briefs

By CSBJ staff

Agriculture grants available

The Colorado Department of Agriculture is accepting grant applications from companies that research and develop new uses and markets for food and agricultural products that are grown, raised or processed in Colorado.

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Congress bans discrimination by insurers, employers

By Amy Gillentine, CSBJ

Citing fears about employment and health insurance discrimination, most people decline genetic testing — even if it means research on diseases comes to a halt. But Congress has attempted to alleviate those fears with the Genetic Information Nondiscrimination Act. The act prohibits health insurers from denying coverage, adjusting premiums on the basis of genetic information or requesting that an individual undergo a genetic test.

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Optimism fades for local flights

John
Hazlehurst

Three weeks ago, officials from the Colorado Springs Airport and the Economic Development Corp. expressed optimism about the airport’s future. Citing the city’s relatively strong economy, new flights from Northwest and robust flight scheduling, airport CFO Gisela Shanahan and the EDC’s Dave White saw little likelihood of service cuts. But as rising fuel prices put virtually every U.S. carrier in financial jeopardy, such optimism might be misplaced.

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Kaiser deal has more competitors seeing red

Amy
Gillentine

While Kaiser Permanente subscribers will enjoy a rebate for the next two years, its competition is concerned about the unintended consequences of a deal that the health care company reached with the Colorado Division of Insurance. Under the $155 million agreement, Kaiser will give each of its 485,000 members a $287 refund or premium deduction during 2009 and 2010 — in addition to paying into a fund that helps low-income people obtain insurance.

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Local economy could stand a big dose of returning troops

John
Hazlehurst

Compared to the rest of the country, the Colorado Springs economy is still comparatively robust — and that, said Dave White of the Economic Development Corp., has a lot to do with the city’s military presence. Colorado Springs is unique not only in the size of its military presence, but in its diversity.

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How often should investors check their stocks, portfolios?

By Rebecca Tonn, CSBJ

David Bullock says that if you check your stocks daily it probably means you’ve assumed too much risk in your portfolio.

Checking the stock market every day? Bad idea. It might even make you a nervous wreck — and it certainly won’t help your portfolio. Looking at a stock’s performance might be helpful, said Rob Parker, portfolio manager and senior vice president for Key Bank, but given the current economy, if investors are in a panic, it’s probably a signal to broaden their portfolios. “If clients can’t handle the worst one-year possible loss — then their current allocations are probably too risky for them,” he said.

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ExpressJet’s days in Springs could be coming to an end

John
Hazlehurst

ExpressJet, which offers twice-daily nonstop flights to San Diego and Los Angeles, and weekly service to Sacramento from Colorado Springs, might be forced to sharply curtail, and perhaps end, its flights before the end of the year, according to both Evergreen-based aviation analyst Mike Boyd and sources within the company who requested anonymity.

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Opinion

Guns and Hoses: Cops, firefighters lacing it up to benefit cancer research

Mike
Boyd

Their names aren’t Stuhldreher, Miller, Crowley and Layden, and Cheyenne Mountain High School Football Stadium isn’t the Polo Grounds, but the gridiron game scheduled for July 19 between the Colorado Springs Police Department and Fire Department should be no less an epic and entertaining matchup than the contest between Notre Dame and Army so memorably described by Grantland Rice those many years ago. The third annual Guns and Hoses Tournament, which is a fundraiser for the Susan G. Komen Breast Cancer Awareness Foundation, is scheduled to kick off at 2 p.m.

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People on the Move

Paul Slauter has joined OfficeScapes. He has 10 years of experience in used furniture liquidation and sales, and moves, adds and changes. Sonny Mata has joined Jan-Pro of Southern Colorado as vice president of sales and marketing. Rhonda Canino has joined bieMEDIA as vice president of business development. She has 20 years of experience in the newspaper and digital-media industries, most recently as director of business development for the recruitment division of Media News Group Interactive.

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Real Estate Column

Cougar Canyon golf course receives national press

By Becky Hurley, CSBJ

Cougar Canyon golf course near Trinidad was selected as the “Best New Course” in Colorado by Colorado Avid Golfer magazine.

Builder/Architect magazine is featuring the Cougar Canyon golf course and master-planned community as a cover story in its summer issue. The Jack Nicklaus-designed golf links, banked by the Sangre de Cristo mountain range and adjoined by an Energy Star-rated Cougar Homes development, is attracting prospects from as far away as California and as nearby as Pueblo and Santa Fe, N.M.

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Sales Column

Learning a few of life’s lessons from the ‘Lord of the Ring’

Jeffrey
Gitomer

I sat down to talk with Drew Brown, the first black jet fighter pilot in the Navy and a decorated war veteran who was raised on the streets of Harlem. He went to school at Southern University, played basketball for the Harlem Globetrotters and wrote a book called “You Gotta Believe!”

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Banking & Finance

Don’t make mistake of thinking disasters don’t happen

Rebecca
Tonn

What would happen to your business if, for instance, a water main broke nearby and employees and customers could not access your building for 10 days? Many entrepreneurs are so busy with the day-to-day responsibilities and challenges of running a business that they forget to prepare for the inevitable. And, no, that’s not being pessimistic.

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Health Care

Medicare Advantage program makes $1 billion more than anticipated

Amy
Gillentine

Private insurers participating in the Medicare Advantage program during 2005 spent less on services for beneficiaries and recorded larger profits than projected, according to a Government Accountability Office report. The 120 forms reviewed by GAO represented 78 percent of plan enrollment. According to the report, the plans projected spending 90.2 percent of total revenue on medical services but only spent 85.7 percent.

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One on One

Fugate followed desire to be closer to family in the Springs

By CSBJ staff

Dr. John Fugate has been medical director at Memorial Hospital for Children for the past year.

Dr. John Fugate moved to Colorado Springs to be closer to his grandchildren, and along the way, he’s helped create the region’s first children’s hospital. The Pennsylvania native is medical director at Memorial Hospital for Children, which opened last year. The hospital boasts the only pediatric intensive care unit in southern Colorado. Fugate recently took time to tell CSBJ about himself and his organization.

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Herman Trend

Corporate social responsibility meets the meeting industry

By Joyce Gioia-Herman, Special to the Business Journal

During the last couple of years, we have written about corporate social responsibility and its importance to younger generations. Not surprisingly, we now find CSR has a rising importance in the meetings industry. At its annual meeting last January, the Convention Industry Council Task Force on Sustainability and Accountability for the Professional Convention Management Association held its first meeting to determine how CIC organizations can serve as resources on environmental and social responsibility issues.

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Retail

Wal-Mart remains No. 1; tech, digital retailers join Top 100

By CSBJ staff

Although the retail climate has changed dramatically during the last year, the top retail power players have not. STORES magazine’s Top 100 Retailers List, which is sponsored by SAP and featured in this month’s issue, is an annual snapshot of the retail industry. Companies are ranked by revenue and grouped regardless of the segment or segments in which they operate.

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Hazlehurst

We’re not making that much of an impression any more

John
Hazlehurst

Last week at Christie’s in London, a magnificent painting by Claude Monet, “Le Bassin aux Nympheas,” sold for an equally magnificent price: $80.4 million. The 6-foot by 3-foot painting, one of the artist’s celebrated water lilies series, belonged to Columbus, Ind., collectors J. Irwin and Xenia S. Miller. Mr. Miller was the chairman of Cummins Engine Co., long headquartered in Columbus.

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Business Travel

Historic hotels’ reputations built on both facts and folklore

Chris
Barnett

Are you heading to San Antonio for business or pleasure? Skip the same old hotel marquees — Hilton, Hyatt, Hampton, Marriott — and check into the 177-room Emily Morgan Hotel and savor a little risqué history and folklore. The location’s great for American history buffs, just 14 steps from the Alamo. But the hotel’s back-story is the attention grabber.

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CSBJ View

Latest Bruce proposals would likely cause irreparable damage

By CSBJ staff

As Ronald Reagan might have said, “There you go again.” State Rep. Douglas Bruce, the author of the 1992 Taxpayer Bill of Rights amendment to the Colorado Constitution, is devoted to the initiative process. Since TABOR, Bruce has submitted, or attempted to submit, numerous amendments to the state constitution and to the charter of the City of Colorado Springs.

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Contributed Column

It’s time to end Uncle Sam’s gas tax shell game

By Ronald Fraser Ph.D., Writes about public policy issues for the DKT Liberty Project

Between 1956 and 1991, Colorado motorists willingly paid “temporary” hikes in the federal gasoline tax knowing that the money was being used to build the 42,000 mile interstate highway system. During 1991, Congress declared the highway system completed — but the tax lived on and on, growing bigger and bigger.

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Stock market: ’08 first-half was bearish; future anyone’s guess

Allan
Roth

Well the first half of 2008 wasn’t exactly stellar for the stock market. The U.S. stock market was down by 10.9 percent as measured by the Vanguard Total U.S. Stock Index Fund (VTSMX), while the international stock market was down 10.2 percent as measured by the Vanguard FTSE All World Ex U.S. Index Fund (VEU).

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News
Optimism fades for local flights
Three weeks ago, officials from the Colorado Springs Airport and the Economic Development Corp. expressed optimism about the airport’s future.
Banking & Finance
Don’t make mistake of thinking disasters don’t happen
What would happen to your business if, for instance, a water main broke nearby and employees and customers could not access your building for 10 days?
News
ExpressJet’s days in Springs could be coming to an end
ExpressJet, which offers twice-daily nonstop flights to San Diego and Los Angeles, and weekly service to Sacramento from Colorado Springs, might be forced to sharply curtail, and perhaps end, its flights before the end of the year, according to both Evergreen-based aviation analyst Mike Boyd and sources within the company who requested anonymity.
Opinion
Guns and Hoses: Cops, firefighters lacing it up to benefit cancer research
Their names aren’t Stuhldreher, Miller, Crowley and Layden, and Cheyenne Mountain High School Football Stadium isn’t the Polo Grounds, but the gridiron game scheduled for July 19 between the Colorado Springs Police Department and Fire Department should be no less an epic and entertaining matchup than the contest between Notre Dame and Army so memorably described by Grantland Rice those many years ago.
Sales Column
Learning a few of life’s lessons from the ‘Lord of the Ring’
I sat down to talk with Drew Brown, the first black jet fighter pilot in the Navy and a decorated war veteran who was raised on the streets of Harlem. He went to school at Southern University, played basketball for the Harlem Globetrotters and wrote a book called “You Gotta Believe!”
 
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