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A key measure of consumer attitude has dropped to its lowest level in two years – and that’s not good news for the upcoming holiday shopping season. The New York-based Conference Board said yesterday that its Consumer Confidence Index fell from a revised 99.5 during September to 95.6, the lowest reading since 85.2 during October… Continue Reading Consumer confidence at two-year low, holiday retailers trembling

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Top Issues for State What is your top issue for governor and legislature? 2007 2006 Immigration 26% 28% Health care price and accessibility 15% 8% Education/money 11% 20% Transportation 7% 6% Economy 6% 11% Tax burdens 6% 5% Environment 4% 4% Population growth 4% 3% Water supply 2% 4% Source: EDCC Citizens Survey on Economic… Continue Reading Coloradoans support incentives for economic development

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Residential building lags

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McGraw-Hill said this week that new construction starts fell 9 percent during September and 11 percent year-to-date for the first nine months of 2007 combined, compared to same period of 2006. The industry analyst broke new construction into three subcategories: nonbuilding, nonresidential and residential construction. Nonbuilding construction was up 6 percent year-to-date but was down… Continue Reading Residential building lags

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Springs officials in a panic?

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The Indianapolis Business Journal reported last week that Colorado Springs officials are “in a panic” over losing USA Basketball – and other Olympic governing bodies – possibly to Indianapolis, because the Indiana Sports Corp. is apparently making a “hard run” at USA Basketball. I have told people around town that Indianapolis is a real contender… Continue Reading Springs officials in a panic?

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Small business continued to create Colorado’s new jobs during 2004. The updated Colorado Small Business Profile, released today by the Office of Advocacy of the U.S. Small Business Administration, shows that small businesses added 25,400 net new jobs during the latest year studied. “Small businesses are Colorado’s job-creating dynamo,” said Dr. Chad Moutray, chief economist… Continue Reading Colorado small businesses create 25,400 jobs in 2004

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FHA-approved lenders offer subprime antidote

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Countrywide Financial Corp. announced its intention this week to help 82,000 subprime borrowers facing higher payments to stay in their homes. But, the company is not the only financial institution promoting FHA fixed-rate refinanced or restructured loans to borrowers overwhelmed by high-risk escalating adjustable rate mortgages. The HUD-sponsored program, launched Sept. 5 with the support… Continue Reading FHA-approved lenders offer subprime antidote

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SBA hands out $20.6B in 110,000 loans this year

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Already this year, the U.S. Small Business Administration has broken loan records, increasing total loan-dollar volume and lending more than 5.5 percent in underserved areas. The SBA approved 110,275 loans worth more than $20.6 billion under its two primary loan programs during the 12 months ending on Sept. 30, compared with 107,233 loans worth $20.25… Continue Reading SBA hands out $20.6B in 110,000 loans this year

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Cumulative declines in single-family construction and building permit authorizations is approaching 50 percent, said David Seiders, chief economist for the National Association of Home Builders. He also said annual rates for both starts and building permits fell below the million-unit market for the first time since 1995. The NAHB/Wells Fargo Housing Market Index dropped to… Continue Reading Single family home building declines approach 50%

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G.M. on top in world auto sales race

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Third quarter sales reports show that General Motors has regained the lead over Toyota as the world’s top automaker. General Motors reports selling 2.38 million cars during the quarter. Toyota reported selling 2.34 million. And, worldwide vehicle sales of 7.05 million vehicles for Toyota during the first nine months of the year also fell short… Continue Reading G.M. on top in world auto sales race

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Jobless claims surge to eight-month high

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Claims for unemployment benefits increased by 28,000 last week to reach the highest level in eight months – which was largely unexpected by economists. The U.S. Labor Department said yesterday that applications for benefits hit 337,000 last week, an increase of 28,000 from the week before. That’s the biggest one-week increase since claims jumped 42,000… Continue Reading Jobless claims surge to eight-month high

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