Dex chief: Internet engines will aid phone-book growth
The proliferation of Internet search engines is likely to help the growth of Yellow Pages companies rather than compete by providing much of the same information, the chief executive of the nation’s fourth-largest directory company said Tuesday.
George Burnett, president and chief executive of Dex Media Inc., said during an industry conference that Internet portals such as Yahoo and Google can serve as supplements or even partners to the information available in the Yellow Pages books sitting on shelves in millions of consumers’ homes.
The way companies such as Arapahoe County-based Dex Media work with Internet search engines will determine their success, he said in an interview after a speech at the Directory Driven Commerce conference sponsored by the Kelsey Group, an independent analysis company.
“There are a lot of major trends that could create a rising tide,” Burnett said. “It’s how well we leverage that and take actions on those things that will determine our success.”
Burnett refused to comment on a recent Wall Street Journal report that Dex was in negotiations to be acquired by Cary, N.C.-based R.H. Donnelley, the nation’s fifth-largest Yellow Pages company. He said company policy prohibits commenting on market rumors. Donnelley officials also have declined to comment.
DENVER
Gold-jewelry demand a Newmont bonanza
Gold-jewelry demand, which climbed 42 percent in the second quarter, has “never been stronger,” said David Harquail, vice president of merchant banking at Newmont Mining Corp.
Newmont’s refineries in Switzerland are booked for the next four months and “can’t handle any more product,” Harquail said at a Denver mining conference Tuesday. Last month was a record for Newmont’s refineries in Australia and Switzerland.
COLORADO SPRINGS
Casino company gets funding for 2 projects
Colorado Springs-based Century Casinos announced Tuesday it has secured financing for casino projects in Central City and Edmonton, Alberta.
Century said Wells Fargo Gaming Capital has issued the company a letter of commitment on a $32.5 million loan and a $2.5 million revolving line of credit for construction of the Tollgate Casino in Central City. Canadian Western Bank has agreed to issue Century Resorts Alberta Inc., a subsidiary of Century Casinos, a $17.1 million loan for the Celebrations Casino and Hotel in Edmonton.
DENVER
Country network moving to Nashville
Great American Country, a cable television network, said Monday it would relocate its headquarters from Denver to Nashville, Tenn.
The 24-hour country music network, part of the E.W. Scripps Co. – owner of the Rocky Mountain News – was acquired last November for $140 million from Centennial-based Jones Media Networks.
According to a Jones Media employee, Great American Country no longer has employees in Colorado.
NEW YORK
Goldman Sachs sells bonds for new HQ
A much-awaited bond financing that will allow Goldman Sachs Group Inc. to construct a new headquarters building in New York’s Battery Park City launched Tuesday.
The sale of $1.3 billion in tax- exempt Liberty Bonds will allow the company to begin construction this year on a 43-story, stainless-steel-and-glass tower that is expected to provide Lower Manhattan with an economic shot in the arm.
DENVER
Storms cut Cimarex’s production in gulf
Denver-based Cimarex Energy Co. said Tuesday that about 125 million cubic feet per day of its natural-gas production remains off line as a result of hurricane activity in the Gulf of Mexico and nearby coastal areas.
Production curtailments in anticipation of Hurricane Rita began Sept. 21.
DENVER
Cancer outpatient center gains funding
Navitas Cancer Rehabilitation Centers of America Inc., a Denver network of outpatient rehabilitation services for cancer patients, on Tuesday announced the completion of an $8 million Series A round of venture capital funding.
The round was led by Psilos Group Partners, with additional capital contributed by Shoreline Venture Management. Navitas will use the funding to expand its Denver operation and open a second clinic in Salt Lake City.
CLINTON, Okla.
Fed official suggests more interest hikes
The dollar rose to a two- month high against the euro and yen after Federal Reserve Bank of Kansas City president Thomas Hoenig added to speculation the central bank will keep raising interest rates.
Hoenig, who spoke to the Oklahoma Economic Forum in Clinton, Okla., said late Monday that inflation is “high enough to get your attention.”
CHICAGO
United’s Ted routes rake in bookings
United Airlines said routes launched Sept. 7 on its discount carrier Ted between Denver and Miami, Washington Dulles and Miami, and Ontario, Calif., and San Francisco have brought in 35,000 bookings between Sept. 21 and the end of October.
United launched Ted in Denver in 2004 and operates flights from Denver, Washington, D.C., and Chicago to other cities. Ted replaced United mainline flights on the Denver-Miami and Dulles-Miami flights. United switched all Miami flights to Ted flights.
DENVER
Frontier seeks new flights to Mexico
Frontier Airlines has applied for permission from the Department of Transportation to start flights between Chicago’s Midway Airport and Cancun to begin in the first quarter of 2006, and between Los Angeles and San Jose del Cabo, Mexico, starting in the second quarter of 2006.
Frontier said in the filing that it plans to initially operate the flights three times per week on each route during peak season.
ARAPAHOE COUNTY
CWA sues Dex Media over labor dispute
The Communications Workers of America is suing Arapahoe County-based Dex Media Inc. over its refusal to arbitrate a labor dispute.
The CWA claims that Dex violated a labor agreement by hiring nonunion workers for its new “Dex Web Clicks” program, according to CWA’s filing with the U.S. District Court in Denver on Wednesday. The CWA wants a judge to force Dex Media into arbitration.
