Business News

Freedom execs not actively pursuing sale of bankrupt company

WAYNE HEILMAN

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Freedom Communications Inc., owner of The Gazette, is not actively marketing the bankrupt company, officials said Thursday. Freedom has received no offers other than from “bottom-feeders” who in some cases want Freedom to pay them to... Full story

NASCAR dreams stalled in one afternoon

BILL REED

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As I zipped the fire suit over my bulging belly and pulled the helmet over my Coke-bottle glasses I thought that maybe, just maybe, I had finally found my sport. Dreams of shooting a jumpshot in the NBA or smacking a homer at Coors Field are long... Full story

PPIR owners envision 'garage mahals,' gearhead heaven

BILL REED

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Amy Atwater tore off her racing helmet, the adrenaline still pumping. She had just finished a spin around the Pikes Peak International Raceway’s oval in a stock car, courtesy of the track’s new partner, the Richard Petty Driving... Full story

Colorado foreclosures hit record in third quarter

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DENVER — Colorado had a record number of new foreclosures in the third quarter, when new filings hit 12,468. The quarter ending Sept. 30 was the fourth consecutive quarter in which new foreclosure filings increased. For the year so far,... Full story

Developer seeks urban-renewal designation for raw land

RICH LADEN

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It would be one of the city’s more unusual urban renewal projects. A Colorado Springs developer and city government economic development officials are proposing to transform nearly 200 untouched acres in a fast-growing part of town into an... Full story

Austin, Texas, economic development veteran will headline Springs chamber annual dinner

RICH LADEN

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As somebody who’s spearheaded economic development efforts in Austin, Texas, for 30 years, attorney Pike Powers says there are a few things that can make a community strong. A city that builds upon its quality of life will be more attractive... Full story

Grocery store officials sweeten deal with signing bonuses

WAYNE HEILMAN

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King Soopers and Safeway have offered signing bonuses up to $1,000 in the form of gift cards to unionized workers in Colorado and Wyoming as part of what supermarket officials are calling “last, best and final” contract proposals. The... Full story

Intel sells plant for $15.1 million, will share in future income

WAYNE HEILMAN

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Intel Corp. sold its Colorado Springs semiconductor manufacturing plant last week for $15.1 million, and also signed an agreement with the buyer that will allow it to benefit financially from the property’s redevelopment, El Paso County land... Full story

Springs Utilities proposes 2.3 percent rate hike next year

No layoffs planned at Utilities

R. SCOTT RAPPOLD

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Colorado Springs Utilities on Wednesday presented a $1.1 billion 2010 budget to City Council. Included is a 2.3 percent hike to residential bills. The budget is $12.3 million less than in 2009. Officials say the rate increase is needed to pay for... Full story

Operation 6035 backers plan to hire executive as part of job creation efforts

RICH LADEN

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A community-wide economic development study designed to lay the groundwork for more jobs in the Pikes Peak region already has resulted in at least one new position. Supporters of the Operation 6035 study announced Tuesday they will hire a paid... Full story

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