Mistrust factor restricts telecommuting

A new telecommuting survey by intranet software developer Intranet Dashboard, shows that 70 percent of 390 respondents were restricted from teleworking, with the main reason cited as lack of trust in employees by upper management.

But management did acknowledge significant savings in infrastructure costs and absenteeism and gains in productivity when telecommuting was available to employees. Eighty-three percent of companies listed telecommuting as a company incentive or perk. And 95 percent of telecommuters have access to the company's intranet.

Telecommuting is expected to reach 100 million corporate employees working from home at least one day a month by 2008, according to Gartner and Deloitte.

South Academy not yet a candidate for urban renewal

South Academy Boulevard in Colorado Springs has caught the attention of city officials, who say it's one of five older areas in need of redevelopment. But the stretch of Academy -- roughly between Drennan Road on the south and Constitution Avenue on the north -- isn't close to becoming an urban renewal area, despite rumblings within the real estate industry. Hendricks & Partners, a national real estate company that specializes in apartments, recently issued a second quarter report for the Rocky Mountain region. In giving an overview of the Springs' economy and real estate landscape, Hendricks declared city officials were planning to designate South Academy as an urban renewal site. Not true, says Chuck Miller, a retired city planning official and now a consultant to the Colorado Springs Urban Renewal Authority. Yes, Mayor Lionel Rivera and City Council members identified South Academy as a problem area. But the Urban Renewal Authority isn't considering a South Academy redevelopment project, Miller said. "Is it a possibility that it could be an urban renewal area?" Miller said. "I suppose it could, but we haven't been approached by the city and we're not working on it."

USA.Net merges with Connecticut firm

USA.Net Inc., founded 16 years ago as an early computer bulletin board, has merged with a Connecticut-based security software firm.
Colorado Springs-based USA.Net merged Aug. 10 with Perimeter eSecurity Inc. two weeks after Goldman Sachs Group Inc. invested $50 million in Perimeter. Stripes Group LLC and Bessemer Venture Partners, both of New York, joined Goldman Sachs in financing the merger.
USA.Net directors began studying alternatives to finance the company’s growth about a year ago and hired Denver-based St. Charles Capital LLC in January to “explore strategic alternatives,” said David Ramon, USA.Net’s president and chief executive.
USA.Net employs 30 in the Springs and 45 in Denver to provide hosted e-mail and related services to about 2,000 businesses, including United Airlines, Farmers Insurance and Adecco Group. JPMorgan Partners owned two-thirds of the company, while Ramon and chairman Ken Pigott owned 20 percent.
USA.Net will operate as a Perimeter subsidary and will remain in its current locations with its staff and management intact, Ramon said.
The company was founded in 1991 as Community News Service, an early computer bulletin board, became an Internet access provider called Internet Express and later changed its name to USA.Net and moved 11 years ago into hosting e-mail and other services for businesses.
Perimeter, which employs about 200 and has nearly 4,000 customers, is looking to acquire other companies that provide complimentary hosted software services, Ramon said.

Fountain Creek watershed an inspiration

A recent Gazette story about a new Army Corps of Engineers report that recommends safeguards for Fountain Creek (right) and how those controls might affect residential and commercial development served as a reminder to Colorado Springs resident Bob Wearden about the significance of the Fountain Creek watershed. Wearden, a retiree who has self-published two books of poetry, took note of the Fountain Creek watershed in a poem he wrote in 2001. He recently sent a copy to The Gazette, and gave his permission for its publication. He calls it "Watershed Event," and it goes like this:

We know about the jumping frog

of Calaveras County,

But something's even more agog

Here in the Rocky Mountains.

Many things in the region...

Pikes Peak and Seven Falls,

Bring tourists by the legion,

But far above them all...

The celebrated watershed

Of mighty Fountain Creek,

Of which we locals bow our heads

And reverently speak.

You know it by the signage

You see all over town.

Provides us with the drainage,

Without which we would drown.

When rain clouds gather overhead,

Or snowfall comes our way,

We know our trusty watershed

Will send it all away.

We need another festival

To help us pay the rent.

Let's start another festival --

A Watershed Event!

We'll start a watershed website

We'll put it on the net.

So Londoners and Denverites

Can visit without getting wet!

Forget about the culture

NORAD, the rocks of red.

Forget the Starr Kempf sculpture

Celebrate the watershed!

Smoothie King opens in Springs

Three Colorado Springs residents have opened a Smoothie King at 9275 N. Union Blvd., in the King Soopers shopping center at the Marketplace at Briargate. The store offers more than 50 made-to-order smoothies plus healthy living products such as energy bars and vitamin supplements. Smoothie King is a New Orleans-based franchise company with roughly 450 stores in 34 states.

Former Vegas chef departs local hospital for his own gig

Chester Wright, head chef at the new Memorial Hospital North, has moved on.

The former executive chef at the Mirage in Las Vegas started working at the hospital when it opened in April and recently received funding to open his own restaurant in northern Colorado, said Joy Powell, Memorial Hospital North's vice president and administrator.

The hospital's Garden Terrace Cafe, which is building a reputation on serving gourmet-inspired healthy cuisine, is run by independent contractor Sodexho, which is narrowing the list of chef candidates, Powell said.

Four finalists are competing in a cooking contest with five-course meals administrators taste as part of the selection process for the job.

"We have people from the community coming daily to eat lunch and dinner here because of the good food and great prices," Powell said.

Test your knowledge of Colorado

Gov. Bill Ritter has proclaimed Sept. 10-14 as Let’s talk Colorado Week as part of a joint effort by the Colorado Tourism Office and AAA Colorado to increase awareness of what the state has to offer its residents. During the week, residents are invited to visit one of AAA Colorado’s 14 statewide offices to get instate travel ideas. The first 3,000 visitors will receive an informational gift bag. Coloradans also can register to win a weekend trip for two on AAA Colorado’s Spring Wine Train; for details, go to www.aaa.com/colorado.

In addition, AAA Colorado has released a 10-question Colorado trivia quiz. Answers will be available at the AAA Colorado Web site after Gov. Ritter releases them at a Friday press conference. Here are the questions:

1. Where is the annual scuba diving event that takes place at 10,000 feet?

2. What is zipping and where can you zip in Colorado?

3. Where is Penny Hot Springs?

4. Where can you find a bridge named Bob?

5. Where can you see a genuine Star Wars X-wing fighter?

6. Where is America's first "weather trail?"

7. Where can you see the only remaining steam shovel that helped build the Panama Canal?

8. Where is the USA’s highest yacht club?

9. Who was Lou Bunch and where is there a brass bed race in her honor?

10. Where are the only boat locks in Colorado?

We're No. 4 -- as a place to relocate

Colorado Springs has made another list -- this time as one of the better small-market cities to which a family can relocate, according to a 2007 ranking by Primacy, a worldwide relocation service. Colorado Springs was No. 4 on Primacy's list of 50 metropolitan areas with populations of 350,000 to 575,000. The top three areas were Provo-Orem, Utah; Ogden-Clearfield, Utah; and Durham, NC. Primacy used nearly 50 factors important to relocating families. Real estate was one of the top factors, including home prices and affordability, property taxes, appreciation rates, and rent costs. Other factors included the health of the local economy, quality of life, education, climate, recreation and arts and culture. Of metro areas with a population of more than 1.25 million, Fort Worth-Arlington, Texas, Nashville-Davidson-Murfreesboro, Tenn., and Kansas City, MO-Kansas City, Kan., ranked Nos. 1, 2 and 3, respectively Of cities with populations between 575,000 and 1.25 million, the top three were Knoxville, Tenn., Wichita, Kan., and Raleigh-Cary, NC. More information: http://www.primacy.com/resources/PRIM-5472.pdf

Hispanic real estate association to meet

The first general meeting of the Colorado Springs chapter of the National Association of Hispanic Real Estate Professionals will be held from 11 a.m. to 1 p.m., Monday, Sept. 10, at the East Library, 5550 N. Union Blvd.

Lunch will be served and a complete description of the organization's purpose and goals will be presented. Participation is not limited to professionals of Hispanic descent or Spanish-speaking individuals.

The local chapter of the national trade association seeks to increase Hispanic homeownership rates by empowering those in the real estate industry to better serve Hispanics through education, advocacy and networking opportunities.

RSVP for the luncheon by Sept. 6 to Gloria at 494-2707 or gloria.mendoza@wesellmore.net.

Spicky Pickle opening in Springs

The Spicy Pickle is opening Tuesday at 1466 W. Garden of the Gods Road, the first of three locations planned in Colorado Springs. The Denver-based franchise has about two-dozen restaurants in Colorado and elsewhere.

What’s on the menu? From the Spicy Pickle Web site: “Spicy Pickle restaurants serve high quality meats and fine Italian artisan breads, along with a wide choice of ten different cheeses, twenty-one different toppings, and fifteen proprietary spreads to create healthy and delicious panini and sub sandwiches with flavors from around the world.”

Dare to be sexy

A Colorado Springs woman has launched an online lingerie store, www.daretobeinc.com. Dare To Be, Inc. is founded on the premise that all women should be proud of, and appreciate, their bodies, Christine Ferguson said.

“Our selection includes sizes and styles to fit and flatter every body type,” the Web site promises. Those selections include designer names such as Elle Macpherson and Shirley of Hollywood.

Biodiesel plant chokes before opening

Bad news -- Pikes Peak Biodiesel has sputtered and died.

The effort to build a biodiesel manufacturing plant in Colorado Springs made inroads last year, then was dropped by initiator Franz Hankins, then picked up by a few other partners, who now report the intended new business was too difficult to get off the ground.

Maybe a future development for the Springs' green front?

Groundbreaking planned for Powers Office Park

A grand groundbreaking ceremony -- not just any old groundbreaking, but a grand groundbreaking -- for the Powers Office Park at Briargate Crossing will take place from 11 a.m. to 2 p.m. Saturday, Sept. 8, at the site of the project, southeast of Powers Boulevard and Briargate Parkway on Colorado Springs' far northeast side. The Powers Office Park is planned as an office condominium project for medical and business professionals; users can purchase their office space instead of leasing, much like homeowners buy instead of renting. The 24-acre project will include 11 buildings and about 332,000 square feet of space, and the first buildings are expected to ready for occupancy in spring 2008. The project is being developed by Powers Group LLC, headed by Scottsdale, Ariz., developer Harvey Salkow. Bennett Shellenberger Realty Inc. of Colorado Springs is marketing the project; more information, http://www.powersofficepark.com/ or 471-1703.

U.S. Bank donates to TESSA

U.S. Bank in southern Colorado on Aug. 14 donated 300 gift bags containing toiletries for children who have been in homes with domestic violence to domestic violence prevention agencies in four cities, including TESSA in Colorado Springs.

Other agencies receiving donations were the YMCA Domestic Violence Shelter in Pueblo, the Family Crisis Center in Canon City and the Arkansas Valley Resource Center in La Junta.

Donations from U.S. Bank's 150 southern Colorado employees included toothbrushes, shampoo, soaps, combs and other everyday items.

The volunteer effort is part of U.S. Bank's national sponsorship of the sixth annual Community Build Day, which calls for financial services companies to help build their communities through activities such as food drives and fundraising walks. This year, U.S. Bank employees are participating in more than 170 projects in 119 cities.

Cinemark in Woodland Park?

Could movie theater chain Cinemark be coming to Woodland Park? Tom Owens, a senior vice president of real estate for Texas-based Cinemark, said Thursday, Aug. 23, the chain might have an announcement in 30 days about a fourth movie theater complex for the Colorado Springs area. Asked where, Owens would only say the company has a particular site in mind, but he wouldn't disclose if it's north, south, east or west. However, Owens added that he and his wife are building a house in Woodland Park, and that the fourth complex would be smaller than Cinemark's two other existing theater complexes and a third that's soon to start construction. Joe Demello, who's managed the Gold Hill Theatres in Woodland Park for 17 years, said he doesn't think the area is big enough for two theaters. Cinemark operates the 20-screen Tinseltown complex on the Springs' south side and a 17-screen complex on the city's east side. A third, 14-screen complex is expected to open in January 2009 as part of the 153-acre Colorado Crossing commercial, retail and entertainment development on the Springs' far north side.

Can you hear me now -- Manitou and Falcon

Verizon Wireless has expanded its high-speed broadband service in the Colorado Springs and Denver areas to including Falcon and Manitou Springs.
The cell phone giant also expanded its Denver-area broadband coverage to including Elizabeth, Evergreen, Ken Caryl Ranch and Lone Tree as well as casino meccas Black Hawk and Central City. The company said it has invested more than $500 million in its Colorado network during the past five years to expand capacity and coverage.
Verizon's Evolution-Data Optimized (EV-DO) Revision A network offers average download speeds of 600 kilobits to 1.4 megabits per second and is targeted at mobile professionals, business customers and students. At those speeds, users could download a 1 megabyte file in eight seconds and upload the same file in 13 seconds.
The company's broadband network is now available to more than 210 million people. For more information, go to www.verizonwireless.com.

The Little Gym of Colorado Springs opens

The Little Gym of Colorado Springs opened its doors recently at 4011 Tutt Blvd. The Little Gym uses curriculum-based gymnastics, sports and other programs to promote coordination, balance, rhythm and flexibility in children 4 months to 12 years old.

The first The Little Gym was built more than 30 years ago by educator Robin Wes. Arizona-based Little Gym International, Inc. was incorporated in 1992 to franchise the concept.

The local franchise, owned by Tressa and Jim Bishop, offers classes from 9 a.m. to 7:30 p.m. weekdays and 9 a.m. to noon Saturdays. Saturday and Sunday afternoons are reserved for birthday parties. For more information, call 447-9153 or go to www.thelittlegym.com.

Terry Sullivan tells all -- about tourism's impact on business

He's not just any old local tourism expert; he's nationally recognized. So says the Colorado Springs Hispanic Chamber of Commerce about Terry Sullivan (right), president of Experience Colorado Springs, the city's convention and visitors bureau. Sullivan will speak to the Hispanic chamber on "The Impact of Tourism on Your Business." The event takes place at 11:30 a.m. Thursday, Aug. 23 at the Crowne Plaza Hotel (formerly the Sheraton Hotel), 2886 S. Circle Drive on Colorado Springs' south side. Cost is $20 for members, $25 for non-members and $30 at the door. More information: 635-5001.

Sturman to present new engine technology

Eddie Sturman, co-founder of Sturman Industries in Woodland Park, presented his company's advances in cleaner-burning diesel engine technology Aug. 16 at the 2007 Diesel Engine-Efficiency and Emissions Research Conference in Detroit.

Digital valve technology integrated into both the fuel injection system and the hydraulic valve acutators reduces fuel consumption and improves power output. Plus, the system is designed to run on both conventional diesel fuel and B99 biodiesel.

Sturman has 28 customers worldwide using various parts of its digital technology. Read about reaction to Sturman's first presentation on the product in North America this month in The Gazette's Business section.

Cripple Creek mine hits milestone

Last week, about 250 people toured the Cripple Creek and Victor Gold Mining Co.’s operations in Victor. The event celebrated a company milestone — 3 million ounces of gold have been poured since operations were resurrected in 1994.

See a video and photo from the event at gazette.com.

Here are some facts about the operation:

Company ownership: Cripple Creek and Victor Gold Mining Co. is a joint venture between Golden Cycle Gold Corp. and AngloGold Ashanti (Colorado) Corp.
Acres owned and permitted: 5,847
Production: 250,000 to 300,000 ounces poured per year
Annual operating costs: 2004, $84 million; 2006, $100 million; 2007 $105 million; 2008 estimate $115-120 million
Current market price of gold: About $640 an ounce
Company profit margin: $100 to $150 an ounce
Exploration drilling: To 1,500 feet deep
Gold ore crushed per day: 65,000 to 70,000 tons
Gold ore needed to produce an ounce of gold: 60 tons of ore, and generally 120 tons of additional rock are moved for one ounce
Cost of one new 240-ton haul truck: $2.7 million
Cost of one truck tire: $30,000
Annual diesel fuel cost for 18 haul trucks and other heavy equipment: More than $20 million
Employees: 325, of which 120 are heavy-equipment operators
Annual payroll: $23.7 million in 2006, including benefits
Blasting: Averages once or twice daily, between 7 a.m. and 4 p.m., except Sundays

A workshop for creative women

The University of Colorado at Colorado Springs will conduct a half-day workshop Saturday aimed at helping women take their creative ideas for new products to a mass market. Speakers include Alyson Probst, winner of the Whirlpool Mothers of Invention Contest for her creation of the Snack and Play Travel Tray.The workshop is 8:30 a.m. to 1:30 p.m. at the Garden Pavillion of the Penrose House, 1661 Mesa Ave. Advance registration is $15 and the deadline is Wednesday. To register or for more information, go to www.learntocreate.com.

Genesis Medspa grand opening on Tuesday

Genesis Medspa, 202 E. Cheyenne Mountain Blvd., Suite R, celebrates its grand opening Tuesday. Services include Botox, laser therapies, microdermabrasion and sun spot and fine line removal. Genesis Medspa is owned by Dr. Lisa Jenks. Hours are 10 a.m. to 6 p.m. Tuesdays through Fridays and 10 a.m. to 4 p.m. Saturdays. For more information, call 579-6890 or go to www.genesis-medspa.com.

Longtime Sinton executive retires

Joel Midkiff retired July 31 as general manager of Sinton Dairy after a 37-year career where he started as a deliveryman.
Midkiff, 59, was replaced by Matt Conner, who previously was general manager of an Oak Farms Dairy plant in San Antonio. Midkiff had been general manager of Sinton since National Dairy Holdings LP bought out him and former partner Larry Losasso in 2003. They led a 1987 management buyout of Sinton from bankrupt Associated Grocers of Colorado.
Midkiff said he plans to remain active with political campaigns and non-profit groups, including the Greater Colorado Springs Chamber of Commerce and the Colorado Association of Commerce and Industry. He was named the chamber's Business Citizen of the Year in 2005 and served as chairman of CACI in 2004-05.

An elk of a different color

Vic the elk is looking for friends.

The life-sized fiberglass elk was purchased this year by Experience Colorado Springs at Pikes Peak to represent the region as part of this summer’s Rocky Mountain Elk Tour, a public art project in Teller County. He’s currently at the Cripple Creek Visitor Center. But he’s also hanging around online: Experience Colorado Springs, the local convention and visitors bureau, on Monday announced the launch of Vic’s MySpace page.

Among those in his “friend space” are Budgie, an Australian bird spending his summer at the Cheyenne Mountain Zoo, and Leonardo. As in actor and environmentalist Leonardo DiCaprio. Lisa Amend, communications manager for Experience Colorado Springs and Vic’s publicist, acknowledges she — or Vic — never actually talked with DiCaprio. But a friend request to his MySpace site, which Amend figures is maintained by a staff member DiCaprio has never met, was accepted. It was exciting news, she says, for the female staffers at Experience Colorado Springs, “all of whom promptly burst into flames at the mere mention of Leo’s name.”

Nonprofit CEO compensation study

A survey released Aug. 1 of the nation's 5,242 largest charities shows CEOs who work for nonprofit educational institutions make more money than their counterparts in any other nonprofit sector.

Charity Navigator's annual report concludes the average annual salary for the head of a charitable educational organization is $234,595, compared with an arts CEO, who averages $187,341, health organizations at $151,566 and animal-focused organizations, $106,750.

Of all the salaries tracked by the nonprofit industry analyst, the highest in the nation is $5.66 million, paid to the president emeritus at Boston University. The second-highest goes to the emeritus chancellor for health affairs at Duke, $4 million. The third-highest is $3.6 million to the clinical professor of dermatology at Columbia University.

On average, CEOs of nonprofits in the nation earn an average salary of $145,270, a pay raise of 2.34 percent over 2006.

CEOs working in the mountain west states that include Colorado earn an annual average of $120,013, according to the study. That's an increase of nearly 4 percent over last year.

Ent adds Monument branch

Ent Federal Credit Union has opened its 24th branch at 16050 Old Forest Point in Monument's Jackson Creek Shopping Center.
Southern Colorado's largest financial institution will celebrate a grand opening for the branch from 10:30 a.m. to 2 p.m. Aug. 18. The 4,000-square-foot branch includes three drive-through lanes, automatic teller machines and safe deposit boxes with biometric access.
Tanan Miles is manager of the new branch. He has more than 10 years of financial experience with Deseret First Credit Union and Chase Bank.
Ent has more than 180,000 members and $2.2 billion in assets at branches in the Colorado Springs, Denver and Pueblo areas.

New 24 Hour Fitness coming to north side

A 24 Hour Fitness Super Sport is slated to open by the end of the year at 7720 N. Academy Blvd. in what used to be Media Play. Musicland Group Inc. closed its 61 Media Play stores nationwide, including two in the Springs, about a year and a half ago. Entertainmart leases the other former Media Play location, 651 N. Academy Blvd., at the Citadel Crossing.

Parade of Homes begins Aug. 17

It's as much a tradition as county fairs and July Fourth celebrations -- but without the funnel cakes and fireworks. The 2007 Parade of Homes, sponsored by the Housing and Building Association of Colorado Springs, kicks off Friday, Aug. 17, and runs through Sunday, Sept. 2. This year's parade -- in which builders put homes on display for the public to see -- will feature two main sites: Black Forest Reserve, southwest of Meridian and Hodgen roads, and The Preserve at Walden, northeast of Hodgen and Colorado Highway 83. Both developments are in Black Forest, the unincorporated area north and northeast of Colorado Springs. Other individual home sites will be in several Colorado Springs neighborhoods and in Woodland Park, west of the Springs. Homes on display will range in price from $165,000 to more than $2 million. Admission to view homes is $10 for adults; children under 18 and adults 65 and older will be admitted free. All homes will be open from 10 a.m. to 7 p.m. daily. Tickets can be purchased at Safeway stores and at parade home sites. More information: http://www.cshba.com/ or 592-1800.

Managing Small Projects seminar

Small-project guru Dan Price will present a one-day seminar on managing small projects, Thursday, Sept. 13, 8:30 a.m. to 5 p.m., at The Sheraton Hotel, 2886 S. Circle Drive.

The cost is $195 per person.

The fast-paced, small group and results-oriented seminar is geared toward all organization sizes and types. Participants will learn how to perform projects faster, cheaper and with greater success with tools and techniques Price has created.

For more information, see www.winning-ways.com or call 685-2474. Reservations are due by Sept. 11.

Shops at the Bluffs demolition coming soon

A makeover for the Shops at the Bluffs could begin Friday, Aug. 10, for the shopping center on the northwest corner of Austin Bluffs Parkway and Academy Boulevard. United Properties, the Minneapolis-based company that bought the property in 2005, plans a "demolition party" on Friday, although it's unclear if any actual demolition will take place that day. If not, the work will begin soon. United Properties plans to tear down large portions of the 1970s-era mini-mall, retain and remodel other portions and build a new King Soopers grocery to replace an existing store. The result will be a traditional shopping center, with large, freestanding buildings to house anchors and smaller buildings for banks, restaurants and other stores (shown in a computer-generated aerial, above). Also, the shopping center will be renamed Marketplace at Austin Bluffs. Much of the work will be completed in mid-2008.

Verizon Wireless store opens on east side

Verizon Wireless has opened a store at 4331 Integrity Center Point, at the northwest corner of Powers Boulevard and Barnes Road. Verizon Wireless Communications Stores are staffed for sales, customer service and technical support, including providing sales and dedicated service to small-business customers with as many as 50 lines of service.

Springs lending initiative nets award

The American Western Lenders Conference recently honored the Small Business Administration’s Colorado district office for an initiative that started in Colorado Springs. The office was presented the Best Practices in Partnering With Small Business Lenders in Region Eight award. (Region Eight consists of Colorado, Montana, Utah, North Dakota, South Dakota and Wyoming.)

The Colorado office won for a pilot initiative developed in cooperation with the Greater Colorado Springs Chamber of Commerce, the Colorado Springs Small Business Development Center and the Springs chapter of SCORE. The goal was to increase the number of active SBA participating lenders in the area by cultivating smaller regional banks that were not participants in the SBA loan guaranty program. The Springs Chamber worked with member banks to actively promote SBA loan program requirements to the nonparticipating banks.

“The Colorado Springs pilot initiative has been a success and we are beginning to see the positive results — more small-business lending in El Paso County,” said Patricia Barela Rivera, SBA Colorado district director.

T. Rowe Price is now offering a free publication -- "Smart
Financial Living: A Guide to Getting Started" -- to help new and less
experienced investors set out on the path toward reaching their financial
goals. The 24-page guidebook offers investors expert advice,
charts and worksheets to help them define their priorities, assess their
financial situation, determine how much they need to save to reach their
goals, align their saving and investing plans with their aims, and stay on
track. Order by calling 1-800-528-4509.

On your mark, get set, fasten!

Think you’ve got tool skills? Here’s your chance to prove it. The Colorado Springs Fastenal store, 1130 E. Fillmore St., will host the local running of Fastenal’s nationwide Ultimate Drive Challenge. Contents using a DeWalt cordless impactor drive down six screws (three into wood, three into metal) and then rachet down one nut as quickly as they can. The 10 fastest in the country will be flown to Homestead, Fla., to compete for a 2008 Dodge Ram 1500 Laramie packed with tools and gear. The local challenge will run from 10:30 a.m. to 1:30 p.m. Aug. 14 as part of an all-day sales event.

Stewart Title emphasizes Hispanic homeowners in the Springs

The Colorado Springs division of Stewart Title of Colorado has launched a full-service title and closing team targeting Hispanic home buyers and sellers. The Hispanic team will be based out of Stewart Title's downtown Springs office in the Plaza of the Rockies office complex, 111 S. Tejon St., Suite 111.

The Springs' rising Hispanic population was cited as a reason for offering the services. In addition to offering escrow documents and closing materials in Spanish, Stewart Title will have Spanish speaking employees and a "culturally relevant approach to servicing Hispanics," the company said. Stewart Title is committed to making its services “more welcoming to the Hispanic community,” said Tammy Perez-Baca, regional multicultural markets director for Stewart Title Guaranty Co.

Ken Barela, chairman of the Colorado Springs Hispanic Chamber of Commerce's board of directors, said businesses must understand the markets they serve. “There are rapid changes in our community's demographics occurring and the overall consumer base is requiring businesses to better understand the culture, values and different perspectives associated with this new era of diversity,” Barela said.

Krumbz crumbles

Robert "Chef Rob" Lemoine and girlfriend Pamela Raver opened Krumbz cake and pastry shop in early June at 321 N. Tejon St., the former Tejon Street Grocery and Deli. Within a month, they were gone, said Scott Long, who owns the building.

Long, who also owns the neighboring Tejon Street Wine Shoppe, said he learned Krumbz had closed when he found the store’s sign tossed in the trash. “He moved out overnight,” Long said of Lemoine.

Lemoine acknowledes he gave no warning. The rent was too high and business was too slow the first month, he said. “We started with really low capital,” he said.

Is that your final answer?

In today's Gazette story about the apartment industry, Colorado Springs real estate veteran Ken Greene, who works for Apartment Realty Advisors in Denver, was asked if a second-quarter dip in the Springs apartment vacancy rate signaled the start of an improvement in the market, or was just a one-time decline.

“That’s the $64 question," Greene said, "nobody really knows.” His response prompted this reply from some readers under the age of, oh, 40: What "$64 question" was he talking about?

OK, for those of you came out of the womb wearing an iPod, here's the answer. Greene's comment refers to the 1950s-era television game show called "The $64,000 Question," in which contestants answered a series of questions and saw their winnings increase for every correct answer. That program was based on a radio quiz show that started as 1940's "Take It or Leave It" and was renamed "The $64 Question" a decade later. Today's "Who Wants to be a Millionaire?" is based on those shows. More information: www.museum.tv, the Web site for the Museum of Broadcast Communications.

Downtown Jamba Juice closing

Downtown Colorado Springs suffered another loss today as Jamba Juice, 15 E. Bijou St., was set to close its doors for good at 7 p.m. The downtown smoothie and juice shop opened 10 years ago as Zuka Juice.

“It’s our last day,” said franchise owner Dean Patzel. “Kind of a sad finish to 10 years.”

Patzel and his wife, Diane, own three other Jamba Juice stores in the Springs. They’re staying open, he said.

The downtown location was not an underperformer, he said. In fact, business has been up, possibly because of the closings in recent months of Michelle’s and Cold Stone Creamery downtown. But the shop was at an age that it needed a face-lift, he said, and corporate wanted a site with higher volume and more exposure.

“I agree with them,” Patzel said. “We’re excited about growth and we’d like to pursue opening a few more stores in town. This is kind of the first step in that whole process.”

New store opens at Promenade Shops

Olivia & Rose (www.oliviaandrose.com) has opened at The Promenade Shops at Briargate, featuring fine paper products such as greeting cards, stationery, gift wrap and custom invitations and announcements. A grand opening celebration is set for Aug. 4. The Promenade Shops at Briargate also has welcomed back the Halloween Bootique. Located between Kirkland’s Home and Gymboree on the west side of the shopping center, the seasonal shop features costumes, wigs, masks and makeup.

Apply your green to brownfields

Here's a chance to double your money, while helping to clean up dilapidated and polluted areas. The Colorado Brownfields Foundation, a Littleton non-profit, has announced the billionaire Anschutz family of Colorado will match donations to the Brownfields Foundation up to $5,000 between now and Oct. 15. The tax deductible donations will help the foundation in its efforts to clean up brownfields around the state. The organization partners with communities, local governments and other non-profits to help reuse and redevelop sites where hazardous substances, pollutants or environmental contaminants hamper their clean-up. An estimated 1,000 brownfield sites -- including former gas stations, dry cleaners, manufacturing facilities, mine and milling sites and landfills -- exist in Colorado, the foundation says. The matching grants from the Anschutz family will help raise funds for the Brownfields Foundation, but also will shine a light on the importance of its work, the organizations says. More information: http://www.coloradobrownfieldsfoundation.org/ or 303-962-0941

Never mind

It took a Grand Canyon-sized leap in logic to conclude that construction of a pair of John Q. Hammons' hotels would be delayed in Colorado Springs, but the Colorado Springs Business Journal took the plunge.

On Friday, the weekly Business Journal ran an item on its daily electronic update with the headline "Colorado Springs hotel developer changes mind." The item went on to say that Hammons -- of Missouri, not the Springs -- had apparently put his proposed southwest downtown and northern Colorado Springs hotels "on the back burner." Because Hammons was moving ahead with a hotel project in Loveland, the Business Journal concluded, he therefore was delaying his Springs' hotels. The item carried no comment from Hammons, his company or local land developers where the Springs hotels will be built.

A Gazette call Friday to Hammons' senior vice president L. Scott Tarwater brought this comment: "Nothing could be further from the truth." He went on to say that Hammons' hotel in Loveland had no connection to the company's projects in the Springs. On Monday, the Business Journal retracted its Friday item -- sort of. The publication now said "it appears Colorado Springs isn't on the hotel construction back burner after all." The Business Journal didn't acknowledge its Friday item, but quoted Tarwater and an executive from Classic Cos. -- the Springs developer which owns land where one of the hotels will be built -- as saying the two local hotels are on schedule.

Former Albertsons becoming a Ross

A former Albertsons supermarket in Security is being transformed into a Ross clothing store. The new Ross at 302 Main St. is slated to open in early October.

Supervalu Inc., owner of the Albertsons grocery chain, closed the Albertsons in Security last summer along with two stores in Colorado Springs. Since then, Ross Stores, Inc. has announced an agreement to acquire certain leasehold rights to 46 former Albertsons sites in Colorado, California, Florida, Texas, Arizona and Oklahoma. While former Albertsons in Boulder and Highlands Ranch are also being remade into Ross stores, there’s no plan to do so with the two empty stores in the Springs, a spokeswoman said.

Langstaff-Brown Urgent Care Center turns 25

Langstaff-Brown Urgent Care Center in Woodland Park will celebrate its 25th anniversary with an open house Aug. 4, from 10 a.m. to 2 p.m. at 41 State Highway 67.

Free hamburgers, hot dogs, prizes, entertainment and blood pressure checks will be available.

Children can take their favorite stuffed toy to an interactive Teddy Bear Clinic for a checkup. Dr. Funny Bones will provide animal balloons and the Peterson Air Force Working Dogs will give a demonstration.

Chamber weighs in on Pinon Canyon debate

The Greater Colorado Springs Chamber of Commerce is working to make its voice heard in the debate over expansion of the Pinon Canyon Maneuver Site.

The Army’s intention to buy more than 400,000 acres of land in southeast Colorado has met with fierce opposition from ranchers who live near the training area. The House voted last month to stop the Army from spending money on the project.

In letters this week to senators Ken Salazar and Wayne Allard, the chamber urged passage of the Senate version of the 2008 Defense Military Construction Appropriations bill. The letters encourage Salazar and Allard to reject the amendment that the House added to its bill blocking funding for the study and assessment of the maneuver site expansion.

“The state’s military installations are critical to the vibrancy and well-being of our state’s economy, contributing approximately $2.8 billion annually,” the letters state. “Colorado’s military installations not only provide a tremendous number of jobs and revenue to our state, but also create an atmosphere that entices other companies to relocate to Colorado, including many small start-up businesses.”

It's Hammons, not Hammonds

You'd think after developing 185 hotels over nearly a half-century, Missouri hotelier John Q. Hammons (right) could get a little respect. But in Colorado Springs, they don't know how to spell his name. Hammons has said he plans to build a 220- to 240-room Embassy Suites hotel in southwest downtown as part of an urban renewal project, and a 306-room Renaissance Hotel as part of the InterQuest Marketplace shopping center on the city's far north side. But the city's Urban Renewal Authority often spells Hammons' name as "Hammonds" in planning documents, while Nor'wood Development Group -- the Springs real estate company developing InterQuest Marketplace -- does the same on its Web site. Everybody misspells a name now and then. Of course, this is the name of a man who's investing tens of millions of dollars in the Springs.

Hospital opening delayed a month

The opening of Pikes Peak Regional Hospital in Woodland Park has been pushed back one month to Sept. 17.

The first full-service hospital in Teller County was supposed to open in August but equipment and finishing touches won't be ready until September, according to hospital officials.

Within the next month, the Pikes Peak Regional Medical Center Foundation hopes to raise $1 million in cash and pledges. To date, the foundation has raised $4 million from 550 donors to help keep the project on track.

Tax forum set for August

Colorado’s tax structure and its effect on business solvency and growth will be the subject of a forum Aug. 13 in Denver. The forum, open to all Colorado small-business owners, starts at 1 p.m. in the Old Supreme Court Chambers on the second floor of the state Capitol. It’s hosted by the National Federation of Independent Business/Colorado. To RSVP, e-mail Tyler Nifong at tyler.nifong@nfib.org.

Wybron gets second-largest order

Wybron Inc. will deliver its second-largest order ever in September to the Dubai Mall Aquarium in the United Arab Emirates.
The 164-foot aquarium will pay more than $500,000 to the Colorado Springs-based manufacturer of theatrical lighting fixtures and related products for 226 large-format "Aquarams," a lighting fixture that can display and change 32 colors, and an "InfoTrace" control and management system to control all 226 fixtures, Wybron announced last week.
The lights will allow visitors to the world's largest mall in downtown Dubai to see "sharks, stingrays and other species in their natural habitat" when the aquarium opens in 2008, Wybron said in a press release issued Thursday. Wybron will complete the order with existing staff.
Wybron's largest order totaled more than $600,000 in 2006 from a mall in Doha, Qatar.
"We are very pleased with the spike in sales of our architectural fixtures," said Wybron Chief Executive Larry Turner.

Fall opening for Rancho Liborio

Springs residents waiting for the opening of Rancho Liborio, near the intersection of South Circle Drive and Monterey Road, will have to keep waiting for a few more months. A May opening was first eyed for the Hispanic supermarket, which is part of the Liborio Markets chain. But the city permitting process took longer than anticipated, said Anthony Trujillo, a Denver developer and partner with Liborio Markets. Now he has a permit in hand and work will begin immediately on the store. “We should be open some time in late October, early November,” he said. The nearly 65,000-square-foot store, occuping a former Grocery Warehouse, will employ about 100 people, he said.

Mountainside Fitness coming to the Springs

Mountainside Fitness, an Arizona-based fitness chain, is expanding into Colorado, including Colorado Springs.

A fall 2008 opening is planned for a Mountainside Fitness club at 30th Street and Garden of the Gods Road. There are tentative plans for a second club on the east side of Colorado Springs, a spokeswoman said.

Mountainside Fitness facilities feature amenities such as a cycle room, a 30-foot rock-climbing wall, a stadium-style cardio area with a TV on each machine, a movie theater and Internet lounge.

New stores at Park Meadows

Park Meadows Shopping Center south of Denver is welcoming two new new stores. M.A.C., known for cutting-edge cosmetics, just opened on the lower level of the mall near JCrew. Lucky Brand Jeans will open late this summer on the lower level near Armani Exchange.

A Denver real estate company likes us, it really likes us

Why does a Denver-area real estate company invest in Colorado Springs? For DPC Development Co., which on July 5 paid $25.2 million for the downtown Colorado Square building, the company is bullish on the Springs for several reasons, said president Chris King (right). While the Springs' commercial real estate market is growing, several national investors still haven't made purchases here, which leaves the field open for a mid-range investor such as DPC Development, King said. In addition, the company believes the Springs has a diverse economy, what with tech companies, defense contractors and service sector businesses, King said. DPC also believes downtown Colorado Springs is poised to make "a pretty good turnaround," King said. The Colorado Square building was especially attractive. Constructing a similar building in downtown probably would have cost the company twice as much, he said. DPC hopes to keep two subsidiaries of Houston-based El Paso Corp. as tenants; they occupy about 90 percent of the building. If not, the building would be attractive to a wide range of tenants, King said. "Hopefully, they'll stay," he said.

Big publicity for Mr. Biggs

How does a Colorado Springs business go about getting nationwide attention? By getting robbed by a pair of knuckleheaded thieves, that's how. When news of a robbery of the Mr. Biggs Family Fun Center in Colorado Springs -- now called Bigg City -- hit local television stations and The Gazette, it quickly grabbed attention from the national media, too. In June, two burglars with door keys, pass codes and safe combinations sought to rob the northwest Colorado Springs amusement center. Their antics were captured by a security camera, which the thieves unsuccessfully sought to disable by spraying with WD-40. When they couldn't figure out how to actually open three safes, the thieves used a nearby computer and did a Google search for “how to open a safe” and “how to crack a safe.” The security video of the thieves repeatedly spraying the security camera -- the WD-40 kept dripping off -- and moving from safe to safe made its way July 11 to Good Morning America as the program's "Picture of the Morning." Hosts Diane Sawyer and George Stephanopoulos referred to the thieves as "the Google guys," and showed a portion of the video. ABC radio commentator Paul Harvey, who typically ends his reports on a lighter note, used the story to finish one of his daily newscasts. As of July 13, the thieves were still at large.

Broadmoor to host vintage autos Labor Day weekend

What would you expect to find at a classy, old-world hotel such as The Broadmoor in Colorado Springs? How about classy, old-world automobiles? The Broadmoor will play host to the inaugural Rocky Mountain Concours d'Elegance, a two-day exhibition of some of the world's rarest, vintage vehicles to take place Sept. 1-2, Labor Day weekend. "Pristinely restored and held in private collections, these automotive works of art are expected to draw more than 5,000 visitors," according to event organizers. They also say that 15, officially-recognized Concours d'Elegance events take place across the country each year, and they hope The Broadmoor's lure will help the local event rank as one of the top such shows when it comes to attendance. More information and to purchase tickets: www.rmconcours.com or 314-1400.

Insurer encourages healthy lifestyle

Colorado is one of several states piloting a new insurance plan from UnitedHealthcare. Vital Measures combines a high-deductible medical plan with a supplemental plan that provides immediate cost savings to employees and employers — if employees meet healthy lifestyle criteria.
Employers can have savings up to 20 percent; employees are rewarded with credits that can be applied to deductibles, if each of four health benchmarks are met or exceeded.

Hospital-linked medical building underway

Construction began July 11 on NorthCare at St. Francis, a physician-owned, 85,250 square-foot medical building that will go up next to the new St. Francis Medical Center, southeast of Powers Boulevard and Woodmen Road in Colorado Springs. Both buildings are scheduled to open in fall 2008. NorthCare at St. Francis will have direct access to the hospital, linked via a fourth floor "skybridge." The four-story, $20 million NorthCare building will sit on more than 5 acres; two-thirds of the building has been pre-leased. The building is being developed by NorthCare LLC, which is headed by Springs physician Dr. Kevin Weary and Michael Heritage of The London Real Estate Group. NorthCare at St. Francis was designed by RTA Architects of Colorado Springs; Colarelli Construction in the Springs is the general contractor.

It'z is on its way

It’z, a family dining and entertainment center, has broken ground on the east side of Colorado Springs.

The 45,000-square-foot facility will be at 3035 New Center Point at First & Main Town Center. Slated to open in March 2008, it will be the first It’z in Colorado and the third in the nation.

It’z offers an all-you-can-eat Italian buffet with four themed dining areas and entertainment including indoor rides, bowling and more than 150 video games.

Local biotech industry focus of upcoming luncheon

“Building a Biotech Hub in Colorado Springs” will be the topic of an upcoming luncheon co-sponsored by the Colorado Springs Economic Development Corp. and the Colorado BioScience Association. Kevin Dwyer, a managing partner and co-founder of California-based Pacific BioDevelopment LLC will discuss what it will take for Colorado Springs to enhance its fledlging biotech industry. Former Colorado Springs City Manager Lorne Kramer, who retired last month, also will be honored at the luncheon. The luncheon takes place at 11:30 a.m. Tuesday, July 24, at The Broadmoor hotel's west ballroom. More information or to register: www.coloradosprings.org/EventDetails or 471-8183.

Home builders gearing up for next year's trade show

The 2008 International Builders’ Show is eight months away, but home builders already can register online. Billed as the housing industry’s largest annual trade show and exhibition, the show is produced by the National Association of Home Builders and is expected to draw more than 100,000 attendees from 100 countries. The show will feature more than 1,900 exhibitors representing more than 300 industry categories and displaying the latest in home and building products and services, according to the National Association of Home Builders. Nearly 300 educational seminars -- on topics such as construction standards, green building, economic trends and senior housing -- also will be part of the event. The show takes places from Feb. 13 to Feb. 16 at the Orange County Convention Center in Orlando, Fla., and builders can register to attend at www.buildershow.com. The show is not open to the general public, however.

CIGNA HealthCare receives top accreditation

CIGNA HealthCare has earned an "excellent" accreditation, the highest possible, from the National Committee for Quality Assurance for its commercial HMO plans and point-of-service plans in eight states, including Colorado.

The accreditation is awarded to health plans that meet or exceed rigorous requirements for consumer protection, quality improvement and clinical care, according to the NCQA. Insurers are judged on 60 standards of performance by physicians and industry experts.

All 23 of CIGNA HealthCare's accredited HMO and point of service plans currently hold the "excellent" status.

Northwest side Colorado Springs office building changes hands

WA Corporate Centre Acquisitions, a Bellevue, Wash., group, recently paid $7.1 million for the 45,157-square-foot Corporate Centre office building on Colorado Springs' northwest side. The building, southwest of Woodmen Road and Corporate Drive, had been owned by CS Corporate Centre, a California group. Constructed in 1984, the building sits on 3.8 acres and is 100 percent leased; its largest tenant is the Platinum Group, a Springs residential real estate company. Dean Corey, Suni Devitt and Troy Meyer of the Denver office of commercial brokerage Sperry Van Ness represented the seller in the deal, while the buyer represented itself.

Spectranetics makes Fortune list -- but not the 500

Spectranetics Corp. has hit the big time, making Fortune magazine's annual list -- no, not not the well-known 500 list, but a list of the nation's fastest growing small companies published by its small business sibling.

The Colorado Springs-based medical laser manufacturer ranked 62nd, down six places from 56th last year, among public companies with revenue of less than $200 million and a stock price of more than $1, based on stock performance over the past three years. Banks and real estate firms were excluded from the list, which was compiled by Chicago-based Zacks Investment Research Inc.

"We are proud to be recognized by Fortune for a record of performance that places us among the leading small businesses in the country," Spectranetics Chief Executive John Schulte said in a press release Thursday.

The company's stock, traded under the symbol SPNC on the Nasdaq Stock Market, jumped 31 cents Thursday to $11.54, its highest closing price this year.

Retail project to join office complex on Colorado Springs' north side

A late July groundbreaking is planned for the 24.3-acre, 340,000-square-foot Powers Office Park at Briargate Crossing. Now, the project's developer wants to add shopping, restaurants and a pair of hotels south of the office complex. The office project, southeast of Powers and Union boulevards in the Briargate subdivision on Colorado Springs' far north side, will be developed as office condominiums -- individual spaces that users purchase much like a homeowner buys a house. The project is being built by Powers Group LLC, headed by Scottsdale, Ariz., developer Harvey Salkow. The group also has a deal to buy 15.9 acres south of Powers and Briargate Parkway for a retail project, to be called the Summit at Briargate Crossing. No plans have been submitted to city officials, but the developer envisions 130,000 square feet of shopping, a pair of hotels, four restaurants, a bank and a pharmacy, said Bill Elder of Bennett Shellenberger Realty Inc. in Colorado Springs, who's marketing the project. Construction on the retail project could get underway next year, Elder said.

Small Business Development Center ranks high

The Colorado Springs Small Business Development Center has been ranked fifth out of 15 such centers in Colorado. The rankings, done by the Colorado Office of Economic Development, are based on the impact each center has in terms of capital formation compared to the entire network.

The Springs Small Business Development Center is a nonprofit organization that provides free counseling and education to small and medium sized businesses in El Paso and Teller counties. It’s hosted by the College of Business at the University of Colorado at Colorado Springs.

Christmas in July?

Summer just began. Which means the holiday season is nearly upon us.

Huh? While the only holiday most of are thinking about is the upcoming Fourth of July, at least one company is looking further down the road.

A press release issued this week for Affirmagy, a Seattle-based speciality blanket business, was titled “Holiday gift idea.” It begins: “With the holidays approaching, it is not too early to begin thinking of special gifts for that someone special, for the home and even for babies and pets.”

Interest high in wireless Internet bid

Colorado Springs officials have sent out 20 bid packages to companies considering submitting bids to build a citywide wireless Internet network.
Ron Cousar, director of the city's Internal Support Services Department, told members of the city's Telecommunications Advisory Committee this month that 20 companies including EarthLink Inc., High Plains Internet,Time Warner Cable, Tropos Networks Inc. and WaveMax Broadband had requested bid packages. EarthLink, Tropos and WaveMax all had approached the city about building such networks.
The city this month began seeking proposals from wireless Internet providers for a local network. Proposals are due to the city’s Purchasing and Contracts Office by July 24. Responses will be reviewed by a committee including representatives from city agencies and civic groups, who will recommend whether the city should negotiate agreements with any providers.

Local news organizations to discuss new technologies

Here's another chance to meet Colorado Springs-area media and learn how they're using the Internet and other new tools to gather and distribute news. Leadership Pikes Peak will host "Meet the Press: Internet and Interconnectivity," from 8 to 10 a.m. Thursday, July 19 at the Pikes Peak Library's Carnegie Room in downtown Colorado Springs. The discussion will touch on topics such as how media outlets are using new technology to meet the needs of readers and viewers; blogging; community-generated journalism; and audio-video streaming. Panelists will include Noel Black, publisher of Newspeak and Newspeakblog.com; Ginny Greene, The Gazette's Internet director; Bob Richards, market manager for Clear Channel Broadcasting; and Nick Matesi, KKTV-Channel 11 news director. The cost is $5 to attend; RSVPs are required and the deadline is July 13. Call 632-2618 or email wendy@leadershippikespeak.org to attend.

Fore! Broadmoor to host U.S. Women's Open golf tournament in 2011

The Broadmoor hotel, Colorado Springs' five-star luxury resort and one of the city's largest private employers, has snagged another major golf tournament that will pump millions of dollars into the local economy. On Wednesday, The Broadmoor announced it will host the U.S. Women's Open golf tournament July 7-10 in 2011. The hotel hosted the same tournament in 1995, when then-newcomer Annika Sorenstam -- now generally recognized as the Tiger Woods of women's golf -- recorded her first victory on the Ladies Professional Golf Association tour. At that time, the tournament generated $10.2 million for the Springs economy, while business leaders estimated it was worth another $2 million in free publicity to the community. In 2008, The Broadmoor will host the men's U.S. Senior Open Championship -- another high-profile golf event -- July 28-Aug. 3.

For more coverage, see gazette.com and Thursday's Gazette.

Progressive recognized for IT innovation

The Progressive Group of Insurance Companies, the third largest auto insurance group in the nation, has been selected by CIO magazine as one of the top 100 companies in the world to excel in information technology.

Progressive received the award based on its Total Loss Concierge service, which helps drivers find a replacement vehicle if their car is declared a total loss after an accident. The software program allows employees to retrieve customers' claim information and find a new vehicle for the driver through a networking of car dealerships and lenders.

Complete coverage of the 2007 CIO 100 awards will be in the Aug. 15 issue of CIO magazine and available online at www.cio.com.

The local Progressive office is at 4925 N. Union Blvd.

Spectranetics stockholders get their wish -- a higher price

Just two day after two frustrated stockholders called on directors of Spectranetics Corp. to sell the company or buy back stock to boost the company's stock price, shareholders got at least part of their wish -- a higher stock price.
Shares of the Colorado Springs-based medical laser manufacturer jumped to a four-month high on Thursday of $11.26, a price the stock matched again on Monday in trading on the Nasdaq Stock Market.
The gains were came after Piper Jaffray & Co. started research coverage of Spectranetics on Wednesday with an "outperform" rating. Suraj Kalia, a senior research analyst for Piper Jaffray, set a target price of $13 a share for Spectranetics, a level the stock hasn't reached since Oct. 30. He expects the company's revenue to more than double from $78 million this year to $162 million in 2011.
"We believe the excimer laser technology of Spectranetics can be used in over 500,000 procedures per year," Kalia wrote. "The company has slowly worked its way into practices around the country, and good word-of-mouth advertising has helped the sales ramp."
Lawrence McKinley, senior vice president for RBC Dain Rauscher in Boulder, said Spectranetics directors should hire an investment banker to sell the company, while Michael Norvell, first vice president for UBS Financial Services in Evergreen, said directors should spend some of the company's $53 million in cash to buy back up to 2 million shares.
Until Kalia's report, the stock had failed to respond to improving financial results, inlcuing a 47 percent jump in revenue last year to a record $63.5 million.

Interim city manager mixes with home builders

You can take the boy out of the economist, but you can't take the economist out of the boy. When the Housing and Building Association of Colorado Springs held a one-hour update June 20 on the state of the local new home market, who was among the 125 people in attendance? None other than Mike Anderson (right), who was named the Springs' interim city manager a week earlier. Anderson had been assistant city manager, served for several years as the Springs' budget director and, before joining city government, was a regional economist for the Pikes Peak Area Council of Governments. Wearing his economist hat, he often was asked to speak to local business groups. So, what interest would Anderson have these days in a housing update? Plenty. Purchases of lumber, nails and other building materials generate millions of dollars a year in sales tax revenue for the city. As city officials start preparing their 2008 budget for release in the early fall, it won't hurt the interim city manager to get a handle on how quickly the new home market will recover from its current downturn.

A Hyatt for the Springs -- sort of

Colorado Springs has its first Hyatt hotel, sort of.
The former AmeriSuites hotel at 503 Garden of the Gods Road was converted to a Hyatt Place hotel on May 25 amid a $2 million renovation set for completion June 28. The 124-room hotel was built in 1997 as a Sumner Suites hotel and was converted to the AmeriSuites brand in 2000.
Chicago-based Global Hyatt Corp. acquired the AmeriSuites chain in 2005 and will convert all 120 hotels to the Hyatt Place brand by year’s end. The chain also operates two hotels in Englewood and Lone Tree and is scheduled to open another property in Aurora next month.

The Hyatt Place chain targets business travelers in a niche between limited-service and full-service hotels, meaning the hotel has no bell staff or restaurant, but does have a café and some room service at rates currently ranging from $109 to $179 a night. The lobby area, which Hyatt Place calls The Gallery and is show above, features a check-in kiosk, a coffee and wine café, a television viewing area and computers and printers for guests.

Hospital transcriptionists repond to article

The article on medical transcription jobs being outsourced at Penrose-St. Francis Health Services, which published June 14 in the Gazette Business section, drew several reader comments.

Springs resident Betty Wilson talked about her experience of working for MedQuist, a national transcription service for hospitals and physicians that Penrose and other Centura Health hospitals will outsource its work to. While she was working there, Wilson said, the company started outsourcing half of its work to sites in India, the Philippines and Thailand.

"It's a real sore spot with American transcriptionists, and I was interested to see Penrose is outsourcing to a company that outsources overseas," she said.

Regarding Centura's claim that MedQuist will offer comparable positions to medical transcriptionists losing their jobs at Centura, Heidi, who spent eight years as a hospital transcriptionist, had this to say:

"According to what Centura has stated, MedQuist will be paying those who 'migrate' -- but the base pay will not be comparable. Based on the minimum requirement to stay employed, about 150-160 lines an hours multiplied by eight hours, they'll get about 8-9 cents a line. That will give the average employee only about two-thirds of their previous base pay.

"On top of that, Penrose-St. Francis paid what I believe was the highest bonus (on top of base pay) in the Centura system. I know for a fact that Porter Hospital/Adventist transcriptionists in Denver were only making about 25 percent of the bonus rate when I left there a few years ago, compared with what Penrose/St. Francis had been paying.

"So, this is financially going to severely affect not only those who will no longer receive a bonus for high productivity on top of base pay, it will really hurt those who were pretty much average producers although just as reliable and good employees who were earning just the base wage.

"From many conversations with my peers as well as attending meetings of the American Association of Medical Transcriptionists for the last 15 years, I think we all feel about the same -- that physicians receive quality and timely work turnaround from in-house staff who get to know the dictators, their style, their idiosyncrasies over time and are invested in the organization.

"Another point is that hospital transcriptionists are those who have at least five to 10 years multi-specialty experience in acute-care settings. It is one of those professions where it is difficult to obtain a job at a hospital without hospital experience. We usually intern at a hospital to enter hospital work."

Health foundation awards grants

The Colorado Health Foundation recently approved grants totaling $5.26 million to health-related nonprofits.

Major recipients include:

• Colorado Bright Beginnings: $361,000 to provide parenting assistance to families


• Colorado Department of Public Health and Environment: $895,275 to help seniors manage chronic diseases


• Colorado Center for Law and Policy: $675,000 to ensure low-income residents receive quality health care


• Arapahoe County Early Childhood Council: $385,205 to physicians treating children


• Cerebral Palsy of Colorado: $277,050 to provide services to 700 young children and families


• Mile High Council on Alcoholism and Drug Abuse: $259,510 to prevent the spread of HIV/AIDS by methamphetamine users


• Northwest Colorado Visiting Nurse Association: $805,909 to expand the Moffat County Care Clinic, which serves low-income residents


• Pueblo Community College: $509,405 to provide dental services to low-income residents

Shoe Carnival helps MDA

Shoe Carnival stores have joined the Muscular Dystrophy Association’s battle against neuromuscular disease. Until July 3, patrons can assist MDA’s lifesaving mission by purchasing and signing $1 and $5 mobiles. The stores will decorate their windows and walls with layers of the yellow and blue mobiles. Shoe Carnival is a chain of 277 footwear stores, including two in Colorado Springs.

Cancer treatment expands

Physicians of Rocky Mountain Cancer Centers now are providing services at the Colorado Springs Health Partners Cancer Center at 209 S. Nevada Ave.

Rocky Mountain Cancer Centers is the state's largest provider of cancer care, with two locations in Colorado Springs and 65 physicians statewide.

Colorado Springs Health Partners is the largest physician-owned, multi-specialty practice in Colorado Springs with 80 physicians and 11 practice locations.

Ent is losing Hope -- literally

Ent Federal Credit Union is losing hope, literally.
Southern Colorado’s largest financial institution will close its Hope branch July 6 because its lease on the building expires July 31, said Jim Moore, Ent’s senior vice president. Ent sold the branch in 2005 to partnership headed by developer Chuck Murphy.
Ent acquired the branch at 555 E. Costilla St. in a 1989 merger with Hope-Coronado Federal Credit Union, but got a larger, more convenient downtown branch at 123 S. Weber St. in a 2001 merger with Mountain Bell Credit Union. The Weber Street branch will remain open.
The four employees at the Hope branch will be relocated to other branches, Moore said. The credit union is expanding — it plans to open its newest branch by July 31 at 16050 Old Forest Point in Monument and is studying expanding branches in Briargate, Falcon and Fountain.

Coast IRB opens local office

Coast Independent Review Board LLC, a company that monitors the safety of drugs and medical devices, opened a temporary office in Colorado Springs on May 14. Within 60 days, the company will move into a permanent, 10,000-square-foot office at 5475 Mark Dabling Blvd., suite 351. The new office is undergoing remodeling, said Bill Darnell, project manager.

The Orange County, Calif.-headquartered Coast IRB announced in February it would open an office in Colorado Springs and bring 180 jobs in the next five years.

The work force is at 16 now, Darnell said. He expects employees to number 50 by the end of this year.

The company focuses on protecting patients of clinical reserach trials.

VillaSport memberships available

VillaSport, which will be the city’s largest athletic club, has begun selling memberships at its onsite membership office, 5904 Prairie Schooner Drive, near the southwest corner of Woodmen Road and Powers Boulevard. The club, with 88,000 square feet of space on 11 acres, is expected to open this fall.