Firm settles over illegal payday loans
Colorado Attorney General John Suthers announced Friday that Quik Payday Inc., of Logan, Utah, will pay $2 million in restitution to Colorado consumers for making illegal payday loans via the Internet in violation of Colorado law. Suthers estimates that 15,000 Colorado consumers will share in the settlement, under which Quik Payday will directly refund the affected consumers in the next 30 days.
Ex-Qwest exec seeks delay in January trial
Former Qwest executive vice president Marc Weisberg has asked a judge to delay his upcoming criminal fraud trial by 90 days. In a court filing Friday, Weisberg’s lawyers argued that his right to a fair trial has been hurt by the publicity surrounding last week’s criminal indictment of former Qwest chief executive Joe Nacchio. Weisberg’s trial is scheduled to begin in early January. He has pleaded not guilty to money laundering and wire fraud.
Level 3 acquires WilTel Group
Broomfield-based network operator Level 3 Communications Inc. said Friday that it has completed a $696.5 million cash-and-stock deal to acquire WilTel Telecommunications Group. Acquisition of the Tulsa, Okla.-based company will add $50 million to $90 million to overall cash flow next year and as much as $150 million in incremental cash flow per year beginning in 2007, Level 3 chief financial officer Sunit Patel said.
Newmont-linked firm to sell bonds
A Peruvian-based company in which Newmont Mining Corp. has a majority stake has received approval to raise $200 million over two years in a bond offering. The company, Minera Yanacocha, will use the money for capital expenditures and general corporate purposes, according to a Friday filing with the Securities and Exchange Commission. Newmont, based in Denver, owns 51.3 percent of Minera Yanacocha, the filing showed.
Whiting execs gain revenue interests
Whiting Petroleum Corp. granted several senior executives net revenue interests in the company’s oil and natural- gas wells developed or acquired in 2005, according to a securities filing by the Denver company. James Volker will receive 5.3 percent, and several other key executives will each receive 3.5 percent.
Chipotle discloses details of IPO
Denver-based Chipotle Mexican Grill disclosed on Friday that it plans to sell 7,878,788 shares of common stock priced between $15.50 and $17.50 in its initial public offering early next year. The big-burrito chain also said in a filing with the Securities and Exchange Commission that it will establish two classes of common stock.
German compay sells its stock in Navigant
TQ3 Travel Solutions Management Holding GmbH, a German company, sold its 1,707,100 shares of Navigant International Inc. common stock to another German company, Preussag Finanz-und Beteiligungs-GmbH. Both are wholly owned subsidiaries of TUI AG. The share price was $10.53. Navigant is based in Arapahoe County.
Denver-Idaho Falls on United’s list
United Airlines said it is reviewing the possibility of starting new flights between Denver and Idaho Falls, Idaho. The company said it is very interested in offering service between the two cities, which are not connected by nonstop flights now. Idaho Falls plans to use a $500,000 federal grant for the United flights. Idaho Falls Mayor Linda Milam said she expects the flights, which would be operated by a United regional carrier, to start in the spring.
