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The Greater Colorado Springs Chamber of Commerce and the Colorado Springs Economic Development Corp. have decided not to merge. The announcement came today after several months of discussion about the matter. While the two organizations have some overlapping goals, representatives said they decided against a merger in order to stay committed to their respective missions.… Continue Reading Chamber, EDC not merging

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Glass half full for CEOs

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CEO confidence in the U.S. economy fell again in the final quarter of 2007. A report from the Conference Board Measure of CEO Confidence shows executive optimism ratings have fallen to 39 – a score of less than 50 reflects a generally negative response from most CEOs. The last time the measure fell below 40… Continue Reading Glass half full for CEOs

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Small businesses seeking more credit

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More small businesses will seek to increase their loan levels or lines of credit during 2008. The latest nationwide Small Business Research Board survey released today shows that of the more than 450 owners and managers responding, 26.8 percent said they will increase the dollar value of their loan requests or raise the limit on… Continue Reading Small businesses seeking more credit

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Inflation at 17 year high, retail sales slump

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The Department of Labor reported this morning that the Consumer Price Index rose by 0.3 percent in December, slower than the 0.8 percent during November. Consumer prices rose by 4.1 percent during 2007, the biggest jump in 17 years, and up almost 60 percent from a 2.5 percent increase in 2006. The increase was largely… Continue Reading Inflation at 17 year high, retail sales slump

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Just as the cost of construction materials is beginning to rise again after leveling off through the third and fourth quarter, industry managers can expect a continued rise in diesel fuel prices, too. The Energy Information Administration’s report earlier this week that said the national average retail price of on-highway diesel was $3.33 per gallon,… Continue Reading Diesel fuel prices join building materials with price increase

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Trade deficit at 14-month high

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The U.S. trade deficit rose to its highest level in 14 months, as record high oil prices overshadowed a rise in exports. The U.S. Department of Commerce said the deficit grew by 9.3 percent during November to $63.1 billion – largely created by a 16.3 percent increase in foreign oil costs. There also was a… Continue Reading Trade deficit at 14-month high

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Retail sales predictions for 2008

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The National Retail Federation is predicting that retail industry sales will increase 3.5 percent this year. NRF analysts expect the current slow pace in sales growth to continue before picking up in the second half of the year, with sales increasing 3.2 percent in the first half of the year followed by a 3.8 percent… Continue Reading Retail sales predictions for 2008

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2008 could be the golden year

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2008 could be shaping up to be a golden year – at least, for those who own the precious metal. On the New York Mercantile Exchange this morning, gold for immediate delivery rose by $12 an ounce, to $908. So far this year, gold has gained 8.9 percent, while the dollar has fallen 2 percent… Continue Reading 2008 could be the golden year

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Nonfarm employment increases

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Total nonfarm employment increased in 38 states and the District of Columbia during November. The Bureau of Labor Statistics reported that compared to November 2006, nonfarm employment decreased in 10 states and was unchanged in two. Employment increased everywhere except in Ohio, minus 0.2 percent, and Michigan, minus 1.8 percent. The biggest year-over-year percentage gains… Continue Reading Nonfarm employment increases

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Economist predicts further interest rate cuts

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In the face of low national job growth and a surprising jump in national unemployment, the Vectra Bank Colorado Small Business Index registered 94.8 during December, up from a revised 92.7 during November 2007. That was enough to cause Vectra Bank’s corporate economist Jeff Thredgold to believe that additional federal interest rate cuts are on… Continue Reading Economist predicts further interest rate cuts

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