A positive sign for housing

This chart is a little hard to read, but the blue line is the key indicator, according to Fred Crowley, a University of Colorado at Colorado Springs economist who tracks the local housing market. In January, the ratio of home sales to the overall inventory of single-family homes -- as shown by the blue line -- rose sharply. In effect, it means that the pace of home sales improved in January when measured against the supply of homes. A one-month improvement doesn't necessarily mean the resale market -- which slowed noticeably in 2007 -- has turned a corner, Crowley said. Yet, it will be worth watching over the next two to three months to see if the improvement continues, he said.

Breakfast with the builders Feb. 22

Real estate agents who want to learn more about the home construction side of the local housing market are invited to attend Breakfast with the Builders from 8 to 10 a.m. Feb. 22 at the Doubletree World Arena Hotel, 1775 E. Cheyenne Mountain Blvd., on Colorado Springs' south side. More than 40 Colorado Springs-area home builders, developers and remodelers will be on hand to talk one-on-one about new homes and their communities. To RSVP, contact the Housing and Building Association of Colorado Springs at 592-1800 or julie@cshba.com

Simtek hires firm to assess buyout offer

Simtek Corp. has hired Pagemill Partners LLC as its financial adviser to evaluate a buyout offer from Cypress Semiconductor Corp. and “other strategic options.”

Palo Alto, Calif.-based Pagemill represented Simtek in its 2005 acquisition of Zentrum Mikroelektronik Dresden AG. Simtek CEO Harold Blomquist said the company has “maintained close working relations with the senior members of the Pagemill team” since that deal.

Cypress disclosed last week it had approached Simtek about buying the company. San Jose, Calif.-based Cypress owns 6 percent of Simtek’s stock and has warrants allowing it to boost that interest to 19.3 percent and is developing a line of chips with Simtek.

Colorado Springs-based Simtek employs 72 people to design and market chips made under contract by other companies in Asia, mostly for servers used to store data.

2008 Nonprofit Day March 6

The Center for Nonprofit Excellence in Colorado Springs will host the 2008 Nonprofit Day on March 6 at the Colorado Springs Marriott Hotel, 5580 Tech Center Drive.

The event offers educational seminars on nonprofit practices, networking opportunities and about 25 local exhibitors.

The keynote speaker is Dr. Joseph Michelli, a local psychologist and author, who will discuss how nonprofits can get past everyday challenges and put the "wow" back into organizations.

A panel discussion with representatives from five foundations will emphasize what funders consider when making funding decisions. The foundations/companies are Agilent Technologies, Bee Vradenburg Foundation, Boettcher Foundation, El Pomar Foundation and Pikes Peak United Way. Vicki Dimond of Springs Style Magazine will present "Media and Marketing Tips for Your Nonprofit." Participants also can learn about the Standards for Excellence program.

For more information, see http://www.cnecoloradosprings.org/.

Hispanic Chamber gala scheduled for March 1

The Colorado Springs Hispanic Chamber of Commerce will hold its 19th annual Gala and Business Procurement Fair at 6 p.m. March 1 at the Doubletree Hotel Colorado Springs World Arena, 1775 E Cheyenne Mountain Blvd., on the city's south side. The event's keynote speaker will be former U.S. Treasurer Rosario Marin (right) , who served in the post under President Bush from 2001-2003. She was the nation's first Mexican-born treasurer. More information: Contact Ernest Chavez, the Hispanic Chamber's president and chief executive officer, 635-5001.