While a general manager for an ACE Hardware store, Steve Frederick worked with a receiving manager who took more than $200,000 worth of merchandise while working at the store. “When we caught him, he had his garage set up like a hardware store,” Frederick said. “He was selling stuff on the weekends out of his […]
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When news of a financial scandal at Wells Fargo was made public last month, the implications seemed negative, but not dire. But ongoing investigations and lawsuits against the company are beginning to paint a picture of the San Francisco-based bank as a company that fostered a culture of unethical — and sometimes illegal — activity. […]
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Loans from the Small Business Administration enable business owners to have more money to inject into their businesses. That’s because the SBA requires less money as a down payment. SBA loans can be easy to obtain, said a lender who’s spent decades helping small businesses obtain financing.  While one local SBA lender reports his SBA […]
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Banks and credit unions have operated side by side for more than 80 years but — like neighbors who share a fence yet have different views and agendas — they don’t always get along.
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Rob Alexander isn’t worried about his legacy, but the Colorado Springs banker has likely enhanced the reputation he’ll eventually leave behind. The 54-year-old chairman and CEO of Stockmens Bank is merging his company with the larger but less successful First Home Bank of Mountain Grove, Mo. “The problem with little banks is they often don’t […]
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Stockmens Bank 601 N. Nevada Ave. Owner, founder and president: Rob Alexander Number of employees: 17 Website: www.thestockmensbank.com/ Rob Alexander opened Stockmens Bank in November 2008, just as Bear Stearns was failing, AIG was declared “too big to fail” and the nation’s monetary system was suffering. It was good timing — at least in Alexander’s opinion. […]
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Each year the Colorado Women’s Chamber of Commerce recognizes companies that create a workplace that supports the highest levels of personal and professional accomplishments for women employees. ANB Bank received the Medium Company of the Year Award for creating a culture that encourages leadership, growth and advancement of women within their company. The company provides […]
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Avoiding debt, whether it’s in business or at home, always seems like the right idea. But in the business world, taking on debt might be smart in the current economic climate. “If you’ve got the stomach for the risk, debt right now is very attractive from an interest rate standpoint,” said Ben Harvey, owner of […]
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BKD, a national CPA and advisory firm with a presence in Colorado Springs, joined forces last week with the National Association of Manufacturers for a webinar to review new and proposed business tax regulations, as well as to compare reform proposals in the House of Representatives with those of President-elect Donald Trump. The webinar was […]
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Lonnie Parsons, regional president of ANB Bank in Colorado Springs, got into banking to make people’s dreams come true — to help clients buy their first homes, start and operate businesses, send their kids to college. “That’s the fun part of banking,” Parsons said. “I’ve really enjoyed banking.” After spending 38 years in the industry, […]
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Traditionally, business people in Colorado Springs choose to invest in real estate, leaving little money for venture capital or angel investing for the city’s startups. A local venture capital group wants to change the local culture by inviting Denver investors and companies to the Springs. Organizers and business leaders believe collaboration with neighbors to the […]
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Chase Bank NSA and Chase Bankcard Services Inc. reached a $136 million agreement with Colorado and 46 other states to settle allegations that the company employed unlawful debt-collection practices, including “robot-signing” affidavits to collect $4.5 billion in credit card debt. “Chase’s debt collection practices valued profits-from-volume at the expense of its consumers,” said Attorney General […]
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