Legislator eager to up accountability
State economic development officials require companies receiving state monies to file reports that account for the benefits they create. But Rep. Alice Borodkin, D-Denver, would like to codify reporting requirements and standards for who can receive state economic development funds in state law.
Borodkin said she has no beef with the Office of Economic Development and International Trade or its director Brian Vogt. But the climate of accountability should extend to the companies that receive state grants, she said.
TV, phone providers tops in complaints
Cable and satellite TV companies topped the list of complaints received by the Denver/Boulder Better Business Bureau in 2005, according to a report released Thursday. Telecommunications companies ranked second on the list.
“Those two have always been at the top of the list because EchoStar and Qwest are located here,” said Susan Liehe, spokeswoman for the local BBB. “It’s a symptom of the size of the company.”
The BBB said that the volume of overall complaints was lower in 2005 than it experienced in past years.
Other industries making the list include: magazine subscription agents, new-car dealers, moving and storage companies, collection agencies, and computer training businesses.
Air Methods in hunt for copter contract
Arapahoe County-based Air Methods Corp. said Thursday it has been selected by Agusta Westland Inc. to develop the aeromedical interior for the US101 helicopter to pursue a contract from the U.S. Air Force.
AgustaWestland is on a US101 team led by Lockheed Martin that also includes Bell Helicopter and General Electric. The Air Force plans to buy 141 Combat Search and Rescue Replacement aircraft and is expected to award a contract in the second quarter of 2006.
Standards provider’s earnings unveiled
Information Handling Systems announced fourth-quarter earnings Thursday of $16.4 million or 29 cents a share for the period ending Nov. 30. Income was down 39 percent from the same quarter a year ago when the provider of technical and engineering standards information, posted income of $26.9 million or 49 cents per share.
The company went public in November. Revenues in the period were $126 million compared to $118.4 million last year.
Pluto probe wins OK for Tuesday launch
The New Horizons spacecraft, which will probe Pluto, has been given clearance to launch on Tuesday from Cape Canaveral, Fla., the project’s lead investigator said Thursday.
The spacecraft passed the “launch-readiness review,” the final check-up before launch, said principal investigator Alan Stern of Southwest Research Institute in Boulder.
Federated puts Lord & Taylor up for sale
Lord & Taylor – which once defined American classic designer styling but lost its cachet amid fierce competition – is on the block.
Federated Department Stores Inc., which purchased Lord & Taylor when it acquired May Department Stores Inc. last year, said Thursday it will sell the New York-based department store chain because it no longer fits with an expansion strategy for its larger Macy’s and Bloomingdale’s chains.
Oil, exports help U.S. trade deficit in Nov.
The U.S. trade deficit narrowed slightly in November as the price of foreign oil fell and U.S. exports hit an all-time high. Some economists predicted the country may soon start to see sustained improvements in its trade performance.
The Commerce Department reported Thursday that November’s deficit declined by 5.7 percent to $64.2 billion. That was a bigger improvement than analysts had been forecasting, although the imbalance was still the third highest after the all-time record of $68.1 billion set in October.
Boston Scientific ups its bid for Guidant
Boston Scientific Corp. raised its buyout offer for Guidant Corp. by 1.2 percent to $25.3 billion, seeking to beat back Johnson & Johnson’s bid for the troubled cardiac device-maker.
Boston Scientific’s new offer of $73 a share consists of $36.50 in cash and $36.50 in Boston Scientific stock, the Natick, Mass.-based company said Thursday in a statement. On Wednesday, Guidant accepted a sweetened $23.2 billion J&J bid.
Starbucks brews deal to promote movie
Starbucks Corp. is moving into the movie promotion business, partnering with the film studio Lions Gate Entertainment Corp. to market the upcoming film “Akeelah and the Bee.”
The agreement marks the first film deal for Starbucks, which has been percolating into the entertainment industry by distributing music.
Nikon ditching film to focus on digital
Nikon Corp., which helped popularize the 35mm camera five decades ago, will stop making most of its film cameras to concentrate on digital models.
The Japanese company said it wanted to focus on “business categories that continue to demonstrate the strongest growth.”
