Goldman Sachs and Morgan Stanley are considering a shift from fair-value accounting practices for some loans after losses this year, reports Bloomberg. The change to accounting at original costs would affect investment-grade commitments, the companies said. Morgan Stanley has $55.1 billion in investment-grade loans and Goldman has $51.6 billion. The decision has not yet been […]
State lawmakers passed a resolution recognizing the importance of wind energy after the U.s. Congress failed to renwe tax credits that the wind industry says are essential to widespread use of the alternative energy source, reports the Pueblo Chieftain. Ten state Republicans voted against the bill in order to show their support for traditional energy […]
In order to cut costs, Sears Holding Co., will close 62 stores in the first six months of 2012, according to Bloomberg News. The closings include 43 Sears Hometown stores, 10 Sears Hardware stores and nine The Great Indoors stores. Sears said last month it planned to raise as much as $770 million by selling […]
AT &T, Vertizon and T-Mobile say they need a larger share of radio waves that carry cell phone calls and wireless data, according to the New York Times. The wireless carriers say that in the next few years they may not have enough of it to meet the exploding demands for mobile data. And the […]
Denver has been rated second in the West for its small business climate, only Salt Lake City scored higher, according to the Denver Business Journal. Denver was compared to 22 other metropolitan cities across the west by G. Scott Thomas. Read more about the analysis at the Denver Business Journal.
Wal-Mart is the subject of a U.S. Justice Department probe into alleged bribery in its Mexican division, Bloomberg reports. The Justice Department is investigating whether the retail giant violated the Foreign Corrupt Practices Act. Wal-Mart is conducting its own review of allegations that its representatives paid local officials in Mexico to get stores opened faster […]
Several Colorado cities are suing online travel companies, saying that the companies are not paying the cities’ lodging and sales taxes, said the Aspen Daily News. Vail and Telluride have already signed on to the suit started by Breckenridge. Aspen is considering joining the class action suit. The suit names 21 defendants – Expedia, Hotels.com, […]
Colorado’s oil and gas industry uses enough water for 79,000 homes – every year, said the Denver Post. A study done by the Western Resource Advocates shows that the industry uses between 22,100 and 39,500 acre feet a year, just about enough to meet the needs of Douglas County residents, the study said. Read more […]
Colorado ranks 11th in the nation for average pay, according to the Denver Business Journal. Workers in the state earned an average of $47,510 in 2011, said the U.S. Bureau of Labor Statistics. That amounts to $22.84 an hour. Read more at the Denver Business Journal.
Frustrated bank customers are now cashing checks at Wal-Mart – foregoing banks altogether. Wal-Mart charges a flat $3 fee to cash checks, and customers who say they are being nickeled-and-dimed by banks have decided to forego checking accounts completely. The New York Times is reporting that the retail giant gave up plans for a federal […]
A Colorado oil company wants to build a pipeline from North Dakota to a hub in northern Minnesota, said the Denver Post. Saddle Butte Pipeline is hoping to build the 450-mile pipe to move 150,000 barrels of oil a day. Read more at the Denver Post.