Hong Kong halts imports of beef from Greeley plant
Hong Kong – Hong Kong suspended beef imports from a Swift & Co. plant in Greeley after discovering a shipment containing meat with bones, the city’s Food and Environmental Hygiene Department said in a statement.
The department’s Airport Food Inspection Office discovered the shipment during an inspection Friday night, the e-mailed statement sent over the weekend said. The department is seeking more information about the beef imports, it said.
Hong Kong resumed imports of U.S. beef in December, ending a two-year ban imposed because of mad cow disease. It allows the import only of boneless cuts from cattle less than 30 months old, with the brain and spinal cord removed. Hong Kong imported about $90 million of U.S. beef in 2003.
“We believe that the Department of Agriculture will clear this issue with the Hong Kong government shortly,” said Swift & Co. officials in a statement. The company said the shipment did not contain any material that could cause mad cow disease but “presented a minor quality issue which falls within acceptable tolerances” under the agreement between the U.S. and Hong Kong.
DENVER
Now-public Chipotle posts quarterly profit
In its first earnings report since becoming a public company, Denver-based Chipotle Mexican Grill Inc. posted a profit in the latest quarter, helped by a jump in sales.
After the markets closed Monday, Chipotle said it earned $4.3 million, or 16 cents a share, on revenue of $173.3 million in the fourth quarter. Analysts were expecting earnings of 11 cents a share, according to Thomson Financial.
In the same period a year earlier, the company lost $3.7 million, or 14 cents a share, on revenue of $127.4 million.
DENVER
Mayor promotes DIA managers
Mayor John Hickenlooper named Denver International Airport co-manager of aviation Turner West manager of aviation. Co-manager Vicki Braunagel retires at the end of March.
The mayor also appointed DIA manager of revenue Cheryl Cohen-Vader chief deputy director of DIA beginning April 1. West has worked for the Denver airport system for 21 years.
DENVER
Financial aces study city’s operations
A group of 10 financial experts from private and public entities will spend about three months examining how Denver does business.
Mayor John Hickenlooper announced Monday the creation of a Financial Management Task Force to develop recommendations on improving the organizational structure of the city’s financial functions and creating fiscally sound reserve policies.
Hickenlooper said the group will look for “ways to find efficiencies and strategies to leverage our limited resources.”
The task force includes bankers, investors and public officials.
GREELEY
Age-directed lifestyle publication to debut
Swift Newspapers Inc. is launching a home-delivered lifestyle and entertainment newspaper in northern Colorado geared toward adults ages 25-44, a coveted demographic for advertisers.
The paper will be called NEXTnc and will have online content at nextnc.com.
It will cover Fort Collins, Loveland, Windsor and Greeley, and will be the third specialty publication offered by Swift Newspapers in the last two years.
DENVER
$4.4 million earnings static for mining CEO
Newmont Mining Corp., the world’s biggest gold producer, said chief executive Wayne Murdy’s compensation was little changed last year, as rising costs eroded earnings.
Murdy, 61, received $4.4 million in total compensation, including a bonus of $881,991, a salary of $900,000 and restricted stock valued at $1.03 million, Denver-based Newmont said Monday in a regulatory filing.
DOUGLAS COUNTY
CH2M Hill subsidiary to expand bean plant
CH2M Hill subsidiary Lockwood Greene has won a $38 million contract for work on an expansion of the Bush Brothers & Co. facility in Chestnut Hill, Tenn.
The baked-bean producer is doubling its production capacity and building a 40,000 -square- foot addition for a new sterilizing system. Douglas County- based CH2M Hill will provide engineering, procurement and construction services for the project.
COLORADO SPRINGS
Honeywell nets $10 million AF pact
Honeywell Technology Solutions in Colorado Springs has been awarded a $10 million contract to develop components for a satellite-control network for the Air Force. The work is to be completed by September 2007.
GOLDEN
New Global gains capital for expansion
Golden-based New Global Telecom, a seller of Internet phone service, said Monday it received $10.75 million from Comcast Interactive Capital and three other investors to help it expand operations.
Centennial Ventures and Columbia Capital, as well as existing investor ICG Communications, invested in the rapidly growing private company.
BROOMFIELD
Gaiam posts profit for quarter, year
Broomfield-based Gaiam Inc. on Monday reported fourth- quarter net income of $1.48 million, or 7 cents per share. That was up from a net loss of $564,000, or 4 cents per share, in the fourth quarter of 2004.
The lifestyle media company reported full-year earnings of $1.34 million, or 8 cents per share, compared with a loss of $4.64 million, or 32 cents a share, in 2004.
NEW YORK
New York Times cuts stock-market listings
The New York Times, joining a national cost-cutting trend, will replace its six pages of stock-market listings with daily spreads of graphics and charts containing financial information.
The newspaper said it will also bolster its website to provide more in-depth data about a particular stock than the newspaper currently provides.
The new format will debut April 4.
WASHINGTON
Treasury auctions $40 billion in debt
The Treasury Department auctioned $19 billion in three-month bills at a discount rate of 4.510 percent and $21 billion in six-month bills at a rate of 4.645 percent.
