Xcel unit to pay $7.3 million to Calif. utilities, regulators
Public Service Co. of Colorado, a unit of Xcel Energy, has agreed to a settlement with California utilities and regulators over allegations that the Denver-based utility manipulated prices and overcharged for electricity during the California power crisis of 2000-01.
Public Service will pay $7.3 million to San Diego Gas & Electric, Pacific Gas and Electric, Southern California Edison, the California Department of Water Resources, the California Public Utilities Commission and the California attorney general.
Public Service admitted no wrongdoing, saying in a statement that the settlement “avoids further costly litigation.” An Xcel spokesman said the Colorado utility sold a relatively small amount of power in the transactions under investigation, although he could not specify the amount.
The Public Service settlement is the smallest among the eight power companies that have settled claims brought by California.
The largest was Enron’s agreement to pay $1.52 billion to the California utilities. Other settlements ranged from $200 million to $1.1 billion.
DENVER
2 real-estate agents indicted in scheme
A federal grand jury indicted two Lakewood real-estate agents and an office worker in an alleged mortgage-fraud scheme that netted $80,000. William E. Mendez, 40, and Claudia M. Mendez, 33, who ran the Mendez Team real-estate agency, are charged with multiple criminal counts of wire fraud.
They allegedly falsified documentation to illegally obtain home loans for people who did not qualify. Benedicta Gomez, 48, of Denver, was charged with preparing the false documents, which were submitted to the Department of Housing and Urban Development.
AURORA
GlobeImmune gets infusion of capital
GlobeImmune Inc. an Aurora- based biopharmaceutical company, said it closed venture capital deals Wednesday totaling $34.3 million. The series B round was led by Lilly Ventures and included nine other investors, including Boulder-based Sequel Venture Partners.
GlobeImmune, founded in 1996, will use the money to further clinical trials of two drugs being developed to fight pancreatic cancer and hepatitis C.
AURORA
ProLogis to purchase Catellus Development
ProLogis, a provider of distribution facilities and services, and Catellus Development Corp., a San Francisco-based real estate development company, announced Wednesday that shareholders of both approved ProLogis’ acquisition of Catellus.
More than 83 percent of ProLogis’ outstanding shares were voted, with approximately 99 percent voting in favor. More than 74 percent of Catellus’ shares were voted, with approximately 99 percent in favor.
GREENWOOD VILLAGE
Red Robin reports data for quarter, year
Greenwood Village-based Red Robin Gourmet Burgers Inc. on Wednesday provided updated guidance for its fiscal third quarter and full year 2005.
The company expects third quarter revenues of approximately $113 million to $115 million and net income of approximately 33 to 35 cents per share. For the year, the company expects revenues of $487 million to $491 million and net income of $1.69 to $1.72 per share.
NEW YORK
Associated Press adapts to young eyes
Experts say the biggest problem in the newspaper industry is capturing readers 18 to 34 years old, and now The Associated Press is looking to tackle that problem head on.
On Monday, the 157-year-old news agency will start its “younger audience service,” called ASAP. The service will offer articles and “experiences” in multimedia formats, with audio, video, blogs and wireless text aimed at younger readers.
CHICAGO
United meteorologists file to halt outsourcing
The Transport Workers Union, which represents 19 United Airlines meteorologists, has filed a motion in district court in Illinois to restrain UAL from outsourcing their work.
A hearing is set for Friday. United said in July it planned to lay off its meteorologists in Chicago and outsource the positions.
ARAPAHOE COUNTY
NetJets pilots to picket at Centennial Airport
NetJets pilots plan to picket at Centennial Airport today, the same day as a National Business Aviation Association forum at the general-aviation airport.
The pilots aim to raise awareness about their four-year contract negotiations with fractional aircraft ownership company NetJets Aviation Inc., according to Teamsters Local 1108.
AURORA
Ground broken for Main Street project
Greenwood Village-based Alberta Development Partners on Wednesday hosted a ceremonial groundbreaking for The Main Street at Southlands retail development at E-470 and Smoky Hill Road in Aurora.
Several retailers have signed leases at the project including Barnes & Noble, Banana Republic, The Gap, Colorado Cinemas and Coldwater Creek.
BROOMFIELD
Gaiam completes buy of media company
Gaiam Inc., a Broomfield-based lifestyle-media company, announced Wednesday that it has completed the acquisition of GoodTimes Entertainment for $35 million in cash and assumption of some liabilities.
GoodTimes Entertainment is a media company that creates and distributes entertainment programming and home video products.
ENGLEWOOD
Sports Authority puts merchandiser at helm
Sports Authority Inc., the biggest U.S. sporting-goods chain by sales, promoted merchandising head David Campisi to president.
Campisi will add control of the advertising and marketing departments to his current responsibilities, Englewood-based Sports Authority said in a statement Wednesday.
PLEASANTON, Calif.
Wind to run Safeway fuel pumps, 15 stores
Safeway Inc. on Wednesday said it has agreed to purchase wind power to run its 270 fuel stations, including 20 in metro Denver, 15 stores in San Francisco and its corporate offices.
Through a partnership with the U.S. Environmental Protection Agency, Safeway has agreed to purchase 78 million kilowatt hours in the form of wind energy.
