Xcel decides against power plant in Wyo.
Xcel Energy has decided against using a proposed $1 billion coal-fired power plant near Douglas and the associated high- voltage lines to provide power to customers in Colorado.
Xcel released a statement Thursday saying the company would instead focus its power development within Colorado, emphasizing wind and natural- gas power development here. The Douglas proposal was among more than 60 submitted to Xcel Energy as part of its integrated-resource plan.
Newmont gets final OK for Nevada plant
Newmont Mining Corp. announced Thursday it has completed the permitting process for its proposed 200-megawatt, $450 million coal-fired power plant in Eureka County, Nevada.
Newmont had received all required permits but had been awaiting resolution of an appeal of the state-issued Clean Air Act permit.
The Environmental Protection Agency’s Environmental Appeal Board upheld the permit in a ruling issued Dec. 21.
4 more dealerships to join auto park
Executives with McWhinney Enterprises have announced that four more dealerships representing eight top automotive nameplates will become part of the Motorplex at Centerra in Loveland.
Davidson Chevrolet, Subaru of Loveland, Ferrero I-25 Dodge Jeep Chrysler and King Buick Pontiac GMC will join Colorado’s first master-planned auto park.
Net loss drops for UAP Holding Corp.
UAP Holding Corp., a Greeley-based provider of agricultural chemicals, seeds and fertilizers, on Thursday posted a lower net loss of $9.3 million, or 19 cents per share, for the third quarter ended Nov. 27.
In the same period of 2004, the company recorded a loss of $30.9 million, or 65 cents per share. Sales increased 21 percent to $323.1 million from $267.2 million last year.
Stern gains 34 million shares in Sirius deal
Sirius Satellite Radio Inc. will give Howard Stern 34 million shares of stock – worth about $220 million at today’s prices – because the company has met agreed-upon targets for gaining new subscribers under its 2004 deal with the shock jock.
In a regulatory filing Thursday, Sirius said its subscriber count as of Dec. 31 exceeded the target it had agreed upon with Stern in October 2004.
Cattle growers fight Japan beef imports
The Colorado Independent CattleGrowers Association is urging congressional intervention in the Department of Agriculture’s action to resume accepting Japanese beef imports into the U.S.
“USDA’s action to accept beef from a country with a known BSE (bovine spongiform encephalopathy) problem presents the U.S. cattle industry with a clear and present threat that cannot be left unaddressed,” said Wayne Rusher, District Six director from Ordway.
Rusher also said the USDA does not require any level of BSE surveillance from Japan.
Frontier: Percentage of seats used rises
Frontier Airlines reported Thursday its planes were 70.9 percent full in December, up three-tenths of a percentage point from December 2004. Its traffic measured in revenue passenger miles was up 9.4 percent, while capacity measured in available seat miles was up 8.8 percent.
For the full calendar year of 2005, Frontier’s planes were 75.3 percent full, up from 71.4 percent in 2004. Available seat miles were up 8.8 percent, while revenue passenger miles were up 14.7 percent.
Court OKs salary, bonuses by airline
Independence Air parent FLYi Inc. received bankruptcy court approval to pay $4.4 million in salary and bonuses to 165 workers who will stay to shut down the company after flights end Thursday.
FLYi cut its request from $5.5 million for 180 employees after the Association of Flight Attendants-CWA union objected. A hearing seeking approval for six more workers will be Thursday.
MCI restates results going back to 2003
MCI Inc., the long-distance telephone company being bought for $8.44 billion by Verizon Communications Inc., restated results going back to 2003.
The restatements don’t affect the planned purchase by Verizon, MCI said in a filing Thursday with the Securities and Exchange Commission. MCI cited an error in its universal service contributions for the changes.
Treasury chief hits China currency policy
U.S. Treasury Secretary John Snow said he isn’t satisfied with China’s currency policy, while warning that punitive steps by Congress to force changes would alarm investors.
“China’s behavior is inviting lots of negative reaction in the Congress, and understandably so,” Snow said in a speech to the U.S. Chamber of Commerce in Washington on Thursday. Snow is pushing China to make its currency more flexible.
Boston Scientific near purchase of Guidant
Boston Scientific Corp. said Thursday it hopes to reach a definitive agreement with Guidant Corp. by the end of next week to buy the rival medical-device maker, whose shareholders are due to vote Jan. 31 on a competing but smaller offer from Johnson & Johnson.
