“We’re seeing the first signs of spring in the thaw of credit since the crisis began in August,” said Scott Anderson, senior economist for Wells Fargo Economics. “The April economic data showed a fair amount of economic stabilization, suggesting the slump hasn’t gained much momentum.”
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I was talking to a friend the other day about the story in this week’s paper about whether American’s are saving enough for retirement when he started bragging about how he will be a millionaire by the time he is 55 because of his investment portfolio. The goal of becoming a millionaire is a growing starry-eyed dream of many people in America. It has motivated quiz shows and rock songs lyrics. Like the Barenaked Ladies’ sang, “If I had a million dollars, I’d be rich.”
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The Compass Bank Colorado Business Leaders Confidence Index dipped from 55.6 to 47.9 for the fourth quarter of 2007. National economic performance, along with pessimism about hiring and capital expenditures, drove the index to a record low.
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Money has more than face value — it has time value. Keep this in mind when paying taxes. Mark Patterson, tax partner at Stockman Kast Ryan, said one of the main areas he considers for clients needing to accelerate deductions is the alternative minimum tax.
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Chances are that the capital gains rate will not increase during 2008, but many people will want to sell businesses, since this is the lowest the rate will be.
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Rob Slee was the keynote speaker at the inaugural Private Capital Markets Conference held Tuesday at Cheyenne Mountain Resort. Slee is managing director of Robertson and Foley, and an adjunct faculty member at Loyola University. He has written several books and hundreds of articles about private finance. The conference was sponsored by BiggsKofford, The Jensen Group at Smith Barney and U.S. Bank.
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During a business panel at the Antlers Hilton last week, an audience of Middle Market Entrepreneurs, a Peak Venture Group program, learned about the economic outlook, the national deficit and the one thing businesses cannot afford to overlook during the current economic climate.
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What would happen to your business if, for instance, a water main broke nearby and employees and customers could not access your building for 10 days? Many entrepreneurs are so busy with the day-to-day responsibilities and challenges of running a business that they forget to prepare for the inevitable. And, no, that’s not being pessimistic.
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The dreaded R-word is being bandied about these days by pundits, consumers and business owners, but is it really all that bad? Yes, and no. “People are terrified of recessions, but recessions aren’t what they used to be,” said Michael J. Swanson, senior economist at Wells Fargo Private Bank’s Focus 2008 panel discussion last week at the Fine Arts Center.
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The Mission Trace shopping center might soon receive an additional face lift. Key Community Development New Markets LLC, a subsidiary of KeyCorp, was one of 61 recipients to be granted a $100 million allocation of new markets tax credits from the U.S. Treasury Department.
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The Vectra Bank Colorado Small Business Index registered 95 during October, up from a revised 93 in September, thanks to unanticipated national economic strength, according to Vectra Bank’s corporate economist, Jeff Thredgold. “The single biggest contributor to the two-point jump in the Colorado SBI was the unexpected strength in U.S. gross domestic product growth last quarter,” Thredgold said. “Lower borrowing costs and increased labor availability in Colorado were also factors.”
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Dave Ramsey likens becoming wealthy to making great barbecue. “You have to cook it for a long time,” he says. “There’s no such thing as quick, good microwave barbecue.” Ramsey should know. By age 26 he had a $4 million real estate portfolio, but lost it all by age 30. So he decided to change his financial strategies, after going on a “quest to find out what older rich people are doing to win — what financial principles they have.”
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