10th Annual Inside Business Awards

Here’s a tradition that’s been a decade in the making.

Since 1998, the newspaper’s business staff has recognized each year’s ups and downs, comings and goings and all-around oddities in the local business community — often with a bit of good-natured ribbing.

Occasionally, we even offer up some hearty congratulations; hey, not all the news is bad. So before the calendar flips to 2008, here’s a look at some of this year’s business news that deserves a special mention.

And like the Las Vegas wiseguys say when they give betting odds on football games, remember that these awards are for recreational purposes only. In other words, don’t take them too seriously.

The “If Only She Could Predict Powerball Numbers” Award

To economist and Colorado Springs resident Tucker Hart Adams. The 69-year-old Adams, who announced she’s retiring as a U.S. Bank economist and no longer will issue annual forecasts, has been as accurate as she’s been blunt when it comes to the local, state and national economies. Easy to understand and approachable, her keen insights were appreciated by her clients, the media and public. Here’s our forecast: Adams will be missed.

The “Bedside Manner Probably Needs Improvement” Award

To officials at city-owned Memorial Health System. This year was as tough for Memorial officials as a steak at a hospital cafeteria. By year’s end, the Colorado Springs City Council had chastised the hospital system’s spending practices, increasing amount of uncompensated care, and business model.

Some council members didn’t like the millions in higher costs related to construction projects, the hiring of consultants without competitive bidding or Memorial’s $250,000 donation to the 2008 U.S. Senior Open golf tournament. This month, Memorial Chief Executive Officer Dick Eitel announced he’s retiring in 2008.

The “Diamonds Are a Hotel’s Best Friend” Award

To The Broadmoor hotel. It’s another first for the Grande Dame of the Rockies: AAA awarded five diamonds to The Broadmoor’s Penrose Room restaurant — the first such honor for any eatery in Colorado. Oops, calling the Penrose Room an eatery is like calling the White House a nice little home. The hotel has been five diamonds for decades, but has lusted after a similar rating for the Penrose Room. Congratulations — and bon appétit.

The “You Can’t Stop Them, You Can Only Hope to Contain Them” Award

To Wal-Mart stores. The nation’s largest retailer opened supercenters in Woodland Park and unincorporated Falcon during 2007, bringing to nine its number of Pikes Peak-region stores — 11 if you count a pair of Wal-Mart-owned Sam’s Clubs. There’s no Wal-Mart on the city’s northwest side, but there’s a soon-to-be vacant Intel chip-making plant. Hmm. This sounds like a match made in economic development heaven.

The “We Hardly Knew Ye” Award

To Intel Corp. When the world’s largest chip maker announced in 2000 it would open a Springs plant, it was as if local business leaders had completed a Sir Edmund Hillary-like ascent to the top of Silicon Mountain — the moniker some techies gave to the Springs’ version of Silicon Valley. Now, Intel has ended production and will shutter its plant, the latest in a series of hightech departures from the Springs and symbolizing Silicon Mountain’s erosion.

The “Don’t Ask, Don’t Tell” Award:

To Colorado Springs officials, business leaders and the U.S. Olympic Committee. The USOC is weighing whether to keep its headquarters in the Springs and is negotiating behind the scenes with city officials and business leaders. Everyone involved would prefer you don’t ask what’s being discussed.

If you do, they won’t tell — even though public money might be used to entice the USOC to stay. Taxpayers already have paid a price for the city’s silence. The Gazette sued the city to force the release of public documents related to the USOC. The flap cost taxpayers $4,500 when the city refused to release the documents, but then relented and paid Gazette legal fees to settle the lawsuit.

The “Back To The Future” Award:

To the city’s housing industry. Times haven’t been this tough for home building and the resale market since the late 1980s. This year will see the fewest number of building permits since the early 1990s; home sales are down by double digits; and foreclosures are approaching an annual record.

Unlike the 1980s, when part of the Springs’ problems were caused by overbuilding, this downturn is being blamed in large part on overzealous lenders who made loans to unqualified homebuyers. When they couldn’t make their payments, foreclosed homes flooded the market and reduced demand. Several local housingindustry representatives say that today’s mortgage rates, around 6 percent, give them hope; in the 1980s, borrowing rates were in the double digits.

The “Gone But Not Forgotten” Award

An unfortunate award given annually to employers that have left the business scene. This year, the list includes Michelle Chocolatiers & Ice Cream, the downtown institution that started in 1952; the JoyRides amusement park; and Longs Drugs.

The “All Roads Lead to Downtown, But All Detours Prevent You From Getting There” Award

To city and state transportation officials. The Bijou Street bridge, which funnels Interstate 25 traffic into downtown, was closed for eight months in 2007, and some downtown merchants said they suffered as a result.

The rebuilt bridge opened in early October. But faster than you could say “cone zone,” the Cimarron Street bridge closed a month later and won’t reopen until next summer. The Bijou bridge is great, and the rebuilt Cimarron bridge probably will be just as nice. But can’t we have a little more time between major inconveniencies?

The “Consider Yourself Part of the Family” Award

To newcomers to the Springs and existing companies that are expanding. In addition to Frontier Airlines, they include: PRC Inc., a Florida company that’s operating a 950-employee call center; FedEx, the shipping giant that’s expanding its north-side campus where employees develop software used in tracking packages; and MyHealthFunds Inc., a health carespending accounts-management company that expects to employ 200 people within five years.

The “Larry The Lynx Meets Lionel The Mayor” Award

To Frontier Airlines and the city of Colorado Springs. The Denver-based carrier announced in November it would build a maintenance hangar at the Colorado Springs Airport — an economic development coup for the city that means 225 jobs and an annual economic infusion of $38 million. For travelers, it means a chance to hop on a flight to DIA and connect to other Frontier destinations.

Eventually, it could even mean nonstop service from the Springs on Frontier. Bringing Frontier to the Springs more or less fulfills a 2003 campaign pledge by Mayor Lionel Rivera (pictured above) to bring a discount carrier to town. There’s no truth to the rumor that Rivera’s picture will join Larry the Lynx, Grizwald the Bear or other airline “spokesanimals” on the tails of Frontier planes.