Ex-Coors chief wins ruling in property-division dispute
The Colorado Court of Appeals on Thursday ruled in favor of former Coors Brewing Co. chairman William K. Coors in a battle with his ex-wife over family property.
The appeals court upheld a 2003 ruling by a trial judge who said the property was not mentioned in the divorce agreement between Coors and his ex-wife Phyllis.
The dispute was over water taps – the right to have Golden city water flow to individual lots – for six lots the couple owned in unincorporated Jefferson County on Lookout Mountain.
Under their 1995 divorce agreement, Phyllis Coors gave up her ownership interest in the lots and William K. Coors agreed to transfer them to their son, William Scott Coors.
In September 2002, the elder Coors transferred the land to his son, along with two of the water taps that had been legally assigned to the lots. Phyllis Coors filed suit, seeking to force him to transfer the other four taps, but William K. Coors said he had assigned them to a company owned by his current wife, Rita Bass.
The trial court and the appeals court said the divorce agreement had not mentioned the taps, only the lots.
DENVER
Molson Coors to drop its low-carb beer
Molson Coors Brewing Co. said Thursday it will cease production of its low-carbohydrate beer, Aspen Edge.
“After evaluating the current market and considering diminishing demand for all low-carb beers, we have made the decision to stop selling Aspen Edge and will discontinue the brand by the end of May,” the brewer said in a statement.
Aspen Edge is brewed at the Coors Brewing Co. facility in Golden. The company said there will be no job cuts associated with the production stop.
FORT COLLINS
Coalition formed to promote clean energy
Business, government and university leaders in northern Colorado have created an organization to promote clean, renewable energy opportunities.
The Northern Colorado Clean Energy Cluster will encourage collaboration between businesses and energy innovators working at universities and in the private sector. Some clean-energy technology transfer involving Colorado State University research has already occurred, according to the new group.
GREENWOOD VILLAGE
1st-quarter earnings down for Red Robin
Greenwood Village-based Red Robin Gourmet Burgers Inc. on Thursday reported first- quarter earnings of $7.4 million, or 44 cents per share. That was down from $8 million, or 48 cents per share, in the first quarter of 2005. First-quarter revenue grew 21 percent to $170.5 million.
The company said it expects second-quarter net income of 37 to 40 cents per share.
DENVER
Cities OK template for Qwest TV deals
A government group of 32 metro-area cities approved a model franchise agreement Thursday that allows Qwest to expand its TV business.
The agreement is a template that cities can use to make deals with Qwest to construct video networks. Now Qwest can go to each city to see where it can offer video, said Chuck Ward, Qwest-Colorado president. Ward said the company does not have a budget for the service.
Comcast and a citizens group have complained that the agreement does not require the phone company to build out its future TV-service network to every customer.
DENVER
Former teller leads U.S. Bank in Denver
Hassan Salem started working as a teller 14 years ago with a predecessor of U.S. Bank in Denver.
Thursday, the Minneapolis bank named him president of its Denver operations. Salem replaces Mark Smith, who announced this month that he would leave the bank in mid- June to spend more time with his family and pursue interests outside of banking.
MAYNARD, Mass.
Denver job index up at online resource
Monster, an online career and recruitment resource, on Thursday reported that its Monster Local Employment Index for Denver rose slightly to 117 in April from 115 in March. The uptick follows a six-point jump in March and indicates continued growth in online recruitment activity and related job opportunities in the Denver area.
Fifteen occupational categories turned higher while four declined and three remained unchanged. Gains were recorded in food services, management and extraction occupations.
HONG KONG
Janus sets expansion sights on Australia
Janus Capital Group Inc. is aiming to grab a slice of Australia’s $542.6 billion funds market as part of the Denver-based fund manager’s Asian expansion plan.
Janus is expanding after appointing American International Group Inc. to be lead distributor of its 13 mutual funds in Taiwan this month. The firm plans to get its Australian business up and running by the end of the year after hiring a sales manager, said Erich Gerth, chief executive of Janus Capital’s international business in Hong Kong.
ATLANTA
BellSouth demands USA Today retraction
BellSouth Corp. is demanding that USA Today, the largest U.S. newspaper, retract a story saying the company gave customers’ records to the National Security Agency.
“We are insisting the newspaper retract the false and unsubstantiated statements that have been made regarding BellSouth,” Jeff Battcher, a spokesman for the third-largest U.S. telephone company, said Thursday in an interview.
USA Today reported last week that AT&T Inc., Verizon Communications Inc. and BellSouth Corp. secretly turned over calling data on millions of Americans to help the NSA detect terrorist activity.
HOUSTON
Enron jurors take a long weekend
Jurors in the fraud and conspiracy trial of Enron Corp. founder Ken Lay and former chief executive Jeff Skilling finished their first full day of deliberations Thursday.
The eight-woman, four-man panel will continue Monday.
DALLAS
Southwest revamps seating system
The days of first-come, first- served seating on Southwest Airlines Co. planes could be nearing an end.
The airline is overhauling its computerized-reservation system to add the ability to assign seats and make international flights.
