The Colorado Springs Business Journal
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Business Briefs

By CSBJ staff

Small firms hardest hit

The small manufacturing and commercial sectors top the list of burdened industries on an energy cost per value of industry shipments and energy cost per sales basis. The Office of Advocacy of the Small Business Administration says that for 10 of 17 manufacturing sectors for which data were available, small firms spend considerably more for energy than large firms did.

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Are tax credits key?

By Amy Gillentine, CSBJ

John McCain discussed his health care plan during a town hall meeting last week in Denver.

A $5,000 tax credit for health insurance is the cornerstone of Republican presidential candidate John McCain’s health care plan. McCain wants to give families a $5,000 tax credit to purchase health insurance – any health insurance, in any state. Families who don’t use the entire $5,000 – $2,500 for individuals – can place the remainder in a health savings account.

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Risky business: non-revocable biometric data

Rebecca
Tonn

Psst. Your biometric data is showing. Millions of Americans have no control over their biometric data, which floats around in cyberspace and multiple databases. Although most people wouldn’t dream of carrying around a credit card that couldn’t be canceled if it were stolen, they’re giving out biometric data that cannot be revoked if it’s compromised.

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South commercial district gets a non-business partner

By Becky Hurley, CSBJ

The $6.8 million Vanguard High School building designed by Neenan Archistruction will be completed this August. The high school will include 43,000 square feet of classrooms, a cafetorium and a library, with another 19,000 square feet of shell space for future classrooms and offices. About 120 freshman, sophomore and juniors will attend classes there during the 2008-2009 school year.

One of the transitioning South Nevada Avenue/South Tejon Street commercial district’s newest — and most promising — neighbors is not a business. School District 12’s Cheyenne Mountain Charter Academy is building a 21-acre campus, including a high school and buildings for grades five through eight, multi-purpose areas, athletic fields and a gymnasium. Future plans include an arts education and performing arts center.

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Once mighty Colorado Springs Co. now simply a historic curiosity

By John Hazlehurst, CSBJ

Dwight Harrison owns the Colorado Springs Co. and is looking for a buyer.

Editor’s note: This is the second in an occasional series of stories about unique businesses in the Pikes Peak region. If you know about a unique local business, send your story ideas to editorial@csbj.com The Colorado Springs Co., created by Gen. William Palmer during 1871, is the oldest continuously operating business in Colorado, and the founding company of Colorado Springs. Today, Monument resident Dwight Harrison owns all the company’s stock — and he’s looking for a buyer.

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Health insurance industry feeling bottom line pain

The first quarter of 2008 will be remembered by health plans as their worst financial performance in more than a decade. While the Standard & Poor’s 500 stock index is down 10 percent for the quarter, the managed care sector is off 35 percent. All the major health plans saw their stock prices tumble as the nation’s two giants — WellPoint and UnitedHealthGroup announced lower earnings.

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Citywide retail development plans make headway

Joan
Johnson

Vacant storefronts in underdeveloped retail areas soon will see new faces because of the city’s recently established retail enhancement program. The program, created within the city’s economic development division as part of this year’s budget, was designed to foster retail growth and development.

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Revocability key to secure use of biometrics

By Rebecca Tonn, CSBJ

Dr. Terrance Boult, CEO of Securics Inc., displays a smart camera for embedded facial recognition and privacy protection.

Biometrics are inherently spoofable because key tokens are not linked to a particular individual. Stephan Engberg, founder and CEO of Priway, in Lyngby, Denmark, said it is crucial that revocable biometrics be used. He is a former member of the Strategic Advisory Board of the European Union Security & Dependability Taskforce and since 2001 has been involved in security road mapping for European Union FP7 research programs.

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Opinion

 

How government makes disasters more disastrous

By Thomas A. Bowden, Analyst, Ayn Rand Institute

In a speech from New Orleans, Republican presidential candidate John McCain lashed out at the Bush administration for its response to Hurricane Katrina. McCain’s remarks, which appeared calculated to make disaster relief a key campaign issue, revived harsh memories of the savage storm that inundated the Mississippi Delta in late August 2005, leaving more than 1,800 people dead and causing widespread property damage.

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People on the Move

D.L. Lobb has joined Westmoreland Coal Co. as president and chief executive officer. He previously was group executive of Peabody Energy Corp.’s Powder River Basin operations.

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Real Estate Column

Covington, LandCo join forces to launch homes’ project

By Becky Hurley, CSBJ

Eric Ashcroft and Ron Covington have kicked off new home construction at Spring Creek.

At a time when national homebuilders have all but abandoned the Pikes Peak region’s new home market, one local company is bucking the trend. Longtime housing and building executive Ron Covington has opened Ron Covington Homes as a new division of LandCo Equity Partners, in which he is also a principal. Last September, Covington, who had served as Colorado Springs area president for John Laing Homes, decided to leave the company to start his own operation.

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Sales Column

Is it net worth or equity? The answer is: It’s both

Jeffrey
Gitomer

When I say “equity” what words come to mind? Most people think “home” or “home equity,” or some even “home equity loan.” Equity is the value difference between what you owe for something and what that something is worth. A home, or a car or a business. There also is negative equity — you owe more that it’s worth. This is most prevalent in cars. It’s called being “upside down.”

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Banking & Finance

Compass on Business posits good news for state

Rebecca
Tonn

“Colorado is a wealthy state,” said Dr. Richard Wobbekind, director of the Business Research Division and associate dean for external relations at the University of Colorado’s Leeds School of Business. Colorado has the eighth highest per capita income in the United States. During 1990, the state was 20th, and during 2001 it was sixth, because of substantial increases in wealth for a decade because of technology.

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Health Care

Long-term care costs rise for fifth consecutive year

Amy
Gillentine

The cost of long-term care in Colorado has increased 20 percent since 2004, compared to a nationwide increase of 17 percent. A Cost of Care Survey released by Genworth Financial Group finds that the cost of elder care in nursing homes, assisted living facilities and at-home care increased for the fifth straight year. One year in a private nursing home in Colorado, for example, costs $75,259. By contrast, the national average for the same type of facility is $76,460 —

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One on One

Morrisroe looks at business from the standpoint of every other homeowner

By CSBJ staff

John Morrisroe’s company keeps him on the go.

John Morrisroe is a busy man. He runs three companies in Colorado Springs (Gutter Helmet of Southern Colorado, Beauty Bath of the Rockies and Rocky Mountain Awnings), and is expanding into the Denver market. And despite what might seem like an impossible juggling act, he maintains the focus that quality delivery isn’t just expected, it’s required.

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Society Column

Goodwill Annual Dinner

By Diane Wengler, Special to the Business Journal

Nia Moimoi (top center), Independence Award winner, and her three children

The “Business of Giving” was celebrated by more than 650 people gathered at The Broadmoor Hotel on April 17 for the Goodwill Annual Dinner. Robert G. Baker Jr., Goodwill president/CEO, welcomed guests and spoke about the important role of Goodwill’s supporters. He reminded the audience that donating a sweater, granting a job interview, offering a financial gift, sharing volunteer time or providing contract work are ways to give to Goodwill every day.

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Letter to the Editor

One-size-fits-all not always best when it comes to financial advice

By Kevin P. Sullivan CFA, CFP, CIMC

Dear Editor: I am writing in response to comments made in the “Financial planning trends toward fee-only services” article in the April 25 issue. I am constantly amazed (and saddened) by the capacity of some individuals in my industry (financial services) to obscure and cloud issues.

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Retail

StickySheets makes move from Castle Rock to Springs

Joan
Johnson

Created by Denver area musician and entrepreneur Wen Boley, StickySheets LLC has moved into Suite 101 at 5426 N. Academy Blvd. StickySheets are large adhesive sheets that make it easy to remove pet hair from large surfaces such as sofas and stairs. One reusable sheet measures almost 2 by 3 feet. It’s big enough to quickly clean an entire room.

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Hazlehurst

Springs’ Mayor Bob was everything, and also everyman

John
Hazlehurst

The end of an era. The passing of a titan. A remarkable man who shaped the history of the city, for good or for ill. All true, but none of it does justice to the man himself. I had the privilege of serving on city council with Bob Isaac from 1991 until his unexpected resignation in early 1997. Bob was by turns inspiring, infuriating, cantankerous, loyal, Machiavellian, tough as nails and deeply compassionate — sometimes in a single council meeting.

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Business Travel

Businesswomen traveling solo will sit, drink and eat at the bar

Chris
Barnett

Decades after women were banned from barrooms, or had their own door at the saloon and were separated from male imbibers, thirst parlors in the civilized world are passionately courting females to take their place at the bar. There are still exceptions. Northern Rwanda officials chase women out of bars at 5 p.m. — ironically, the cocktail hour — to “reduce marital problems including polygamy and misunderstandings.”

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CSBJ View

Springs would be a lot different today if it hadn’t been for Bob Isaac

By CSBJ staff

With the passing of former Mayor Bob Isaac, whose public funeral will be this morning at the City Auditorium, Colorado Springs has lost a man who did more to create today’s Colorado Springs than anyone of his generation. Born during 1928, Isaac attended local public schools, received an appointment to the U.S. Military Academy, completed his service requirement and then earned a law degree at the University of Southern California.

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Contributed Column

Outsourcing can provide an important strategic advantage when done right

Ann
Snortland

Many of us are tired of hearing that the economy is heading into a recession. The trouble is that businesses can either make good strategic decisions and grow through tough times or risk becoming a victim of the down economy. An important exercise in any type of an economy is to study your business and separate your activities into two categories — core and other. Then decide if any of the non-core activities make sense to outsource.

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Hazlehurst
Springs’ Mayor Bob was everything, and also everyman
The end of an era. The passing of a titan. A remarkable man who shaped the history of the city, for good or for ill.
Health Care
Long-term care costs rise for fifth consecutive year
The cost of long-term care in Colorado has increased 20 percent since 2004, compared to a nationwide increase of 17 percent.
Sales Column
Is it net worth or equity? The answer is: It’s both
When I say “equity” what words come to mind? Most people think “home” or “home equity,” or some even “home equity loan.” Equity is the value difference between what you owe for something and what that something is worth.
Opinion
It’s time to create a culture of ‘yes’ in Colorado Springs
The Colorado Springs Leadership Institute had a full-day retreat last Friday at the Penrose House. The theme was creating a culture of “yes.”
Letter to the Editor
One-size-fits-all not always best when it comes to financial advice
Dear Editor:

I am writing in response to comments made in the “Financial planning trends toward fee-only services” article in the April 25 issue.

 
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