February casino take records slight dip
Colorado’s mountain casinos posted a 1 percent decline in revenue in February, according to figures released Thursday.
The state’s 46 casinos reported adjusted gross proceeds of $61.5 million last month, down from $62.1 million in February 2005. Adjusted gross proceeds are total wagers minus payouts.
Black Hawk’s 21 casinos posted AGP of $43.9 million, Cripple Creek’s 19 casinos had $12.1 million, and Central City’s six casinos had $5.5 million.
DNA lays off 8, plans to offer 16 buyouts
The Denver Newspaper Agency laid off eight workers Monday and plans to cut 16 more jobs by May 6. Workers laid off Monday were press cleaners, members of the pressmen’s union.
The agency, which operates The Denver Post and the Rocky Mountain News, is also offering buyouts to 16 union-covered workers in the prepress operations of the newspapers, said Jim Nolan, director of communications for the agency.
If the number of workers who take the buyout offer is fewer than 16, “the balance would come from layoffs to get to 16,” Nolan said.
CU business school wins magazine nod
The Leeds School of Business at the University of Colorado at Boulder has been named one of 10 “hot spots” for entrepreneurial education by Fortune Small Business magazine in its March issue.
The magazine recognized the school as a “leader in ‘green’ entrepreneurship” and noted that its entrepreneurship program “specializes in helping students create companies that are eco- friendly and socially progressive.”
Scripps’ earnings drop from Denver JOA
E.W. Scripps Co., the Cincinnati-based publisher of the Rocky Mountain News, reported a 56 percent earnings decline in 2005 from its Denver joint operating agreement with Media News Group, the privately held publisher of The Denver Post.
Scripps, which shares profits and expenses from the two papers with MediaNews, saw earnings dip from $36.6 million in 2004 to $15.9 million last year, according to a Thursday securities filing.
Depreciation costs associated with upgrading the company’s Denver printing presses reduced earnings by $20.4 million for the year, the filing showed.
3 Colorado CEOs headline biz show
The 2006 Colorado Business Show, which will be held May 4 at the Colorado Convention Center, will feature a keynote panel of chief executives and founders of three of Colorado’s entrepreneurial ventures.
The panel comprises Ron Snyder, chief executive of Crocs; Steve Ells, founder and CEO of Chipotle Mexican Grill; and Sam Addoms, chairman of Frontier Airlines. It will be moderated by entrepreneur and education leader Jared Polis. Information is available at www.coloradobusinessshow.com or by calling 303-932-8100.
Airline-parts maker charts double profit
Titanium Metals Corp., a maker of titanium parts for airplanes, said fourth-quarter profit more than doubled on higher metals prices and sales.
Net income rose to $41.4 million from a restated $19.2 million a year earlier, Denver-based Titanium Metals said Thursday in a statement. After the payment of special dividends, per-share profit rose to 45 cents from 21 cents. Sales jumped 61 percent to $220.8 million from $137 million.
TeleCheck acquires ClearCheck Inc.
TeleCheck Services Inc., a subsidiary of Greenwood Village- based First Data Corp., announced Thursday it has acquired substantially all the assets of ClearCheck Inc., a Greenville, S.C.-based provider of return check management systems.
Financial terms of the transaction were not disclosed. The acquisition will enhance Tele Check’s existing check-processing and collections technology.
DigitalGlobe snaps up $12 million contract
DigitalGlobe has been awarded a $12 million satellite-imagery contract modification by the National Geospatial-Intelligence Agency.
The ClearView contract enables the NGA to acquire additional commercial imagery from DigitalGlobe’s QuickBird.
GM’s ’05 loss report rises to $10.6 billion
General Motors Corp. revised its loss for 2005 to $10.6 billion – $2 billion more than it reported in January – citing higher costs it anticipates for its broad restructuring and the bankruptcy reorganization of Delphi Corp.
GM also said late Thursday it will recognize a previously reported goodwill-impairment charge of $439 million at its finance arm, General Motors Acceptance Corp.
GM, the world’s largest automaker, said it expects to increase the charge for its exposure relating to Delphi’s Chapter 11 filing to $3.6 billion from the previous estimate of $2.3 billion.
United parent delays filing annual report
UAL Corp., the parent company of United Airlines, reported Thursday it would delay filing its annual report with the Securities and Exchange Commission, citing additional workload associated with its exit from bankruptcy.
