“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.
For the first time in several years, bank stocks rose across the board last year. Stock prices also rose at the three national banks that operate in the Pikes Peak region: Wells Fargo and Co., U. S. Bancorp, and JPMorgan Chase and Co. Wells Fargo and Co.’s stock stood at $31.65 per share earlier this […]
More than half of Coloradans are expected to receive a tax refund of about $500 from the state. Last year, 70 percent of individual taxpayers received a tax refund from the state of Colorado and the average state personal income tax refund was $535. So far this filing season, the average refund is about the […]
Look out American Express, Chase and MBNA, here comes Target. Through its Target National Bank division, the retailer has issued credit cards to more than 16 million customers — going where no retailer has gone before — onto the top 10 list of the nation’s largest credit card issuers. No wonder Wal-Mart and Home Depot want to enter the banking business. No retailer has ever ranked so high on the credit card list, and no other appears to be close either. The next closest retailer on the list, Nordstrom, ranks 27th.
During the past 25 years or so, the price-earnings ratio of Standard & Poor’s 500 companies has averaged in the low 20s, said Rod Thirion, business administration faculty member at Pikes Peak Community College. (A price-earnings ratio is a stock’s current price per share divided by the annual earnings per share. Thus, a $100 share, with a $5 EPS, has a P.E. ratio of 20.)
The Federal Deposit Insurance Corp. Board of Directors has approved increasing the deposit insurance coverage on certain retirement accounts at a bank or savings institution from $100,000 to $250,000. The increase, the result of a new law boosting federal deposit insurance coverage for the first time in more than 25 years, will become effective on April 1. The basic insurance coverage for other deposit accounts will remain at $100,000.
The Federal Deposit Insurance Corp. has approved a rule that requires certain large banks to calculate risk-based capital requirements using their own internal parameters to determine credit and operational risk. It is the final rule of the Basel II Capital Accord. Under the new regulation, banks will be able to calculate specific credit risks to […]
A majority of Colorado’s business leaders favor Referenda C and D, according to a Vectra Bank survey. The Vectra 100 survey was conducted through mid-September. Sixty percent of those surveyed said they supported C and D. Only 10 percent of those surveyed said they opposed C and D, and another 30 percent said they were […]
Venture capitalists seem to be testing the waters once again, despite the volatile economic conditions. Investors put $8.4 billion into 765 deals in the third quarter, representing a 29 percent increase in investment and an 8 percent increase in the number of deals compared to the same time period in 2010. “Venture investment rose, putting […]
The economy is pondering a cumbersome recovery. Inflation is looming like lightning on a 14er at noon in July, and investors want to know what to do. Since the recession and financial crisis, many people have realized that investing and the global economy are far more volatile than they were over the past several decades. […]
Chase bank has launched an interactive TV commercial that allows watchers to use their remotes to extend the commercial’s air time. For those of you that just can’t get enough of banking and credit card pitches, this might sound like a good thing, but beware, the commercials weren’t created for your viewing enjoyment alone — they’ll be used to gather socioeconomic information about your household.
You may not have known it, but last week was National Save for Retirement Week. There weren’t any televised tickertape parades, and no one was likely given a paid day off work — the wages to be deposited directly into a 401(k), of course. Congress passed the special resolution last week.