AEG head defends meetings of Anschutz, British official
London – The chief executive of Los Angeles-based Anschutz Entertainment Group has defended the company’s relationship with embattled British Deputy Prime Minister John Prescott, calling British press reports that the company had sought favors from Prescott “vicious” and “false.”
AEG chief Tim Leiweke added Wednesday that the reputation of his firm’s founder, Denver billionaire Philip Anschutz, was being trashed in an effort to bring down Prescott. Anschutz wants to locate a super-casino at the site of his $1 billion entertainment district in east London.
When news broke last week that Prescott, whose portfolio includes planning and urban redevelopment, had met Anschutz on seven occasions, including a two-night stay last July at his ranch near Greeley, allegations of corruption were quickly aired by Britain’s political opposition and media.
Leiweke said the furor is threatening to undercut a serious economic redevelopment program.
“It is unfair to the development, the people of London who will pay a price for not maximizing this opportunity, and to Phil,” he said by telephone from Denver after returning from a business trip to Europe.
CHICAGO
nited to reveal pick for HQ within week
United Airlines is expected to announce its decision on a new corporate headquarters within the next week, according to Crain’s Chicago Business, citing people familiar with the matter.
Chicago remains the front-runner, and sources say proposed incentives from Chicago and Illinois total more than $20 million.
United has had discussions with Chicago, Denver and San Francisco about a move of executive offices from Elk Grove Village outside Chicago.
WASHINGTON
FCC approves deal to sell Adelphia assets
The Federal Communications Commission on Thursday approved a $17 billion deal to sell the assets of bankrupt cable provider Adelphia Communications of Greenwood Village to Comcast and Time Warner Cable, removing the last federal regulatory hurdle to the deal.
But the agency’s approval, in a 4-1 vote, came with conditions. The FCC said Comcast Corp. and Time Warner Cable, a unit of Time Warner Inc., are prohibited from engaging in tactics that would effectively make regional sports programming unavailable to rivals.
DENVER
State continues to top foreclosure rankings
Colorado had the highest home foreclosure rate in the country in June for the sixth consecutive month, according to a new report.
Foreclosure.com, which tracks foreclosures nationwide, said this week that Colorado had 5,928 active foreclosures last month, or one for every 280 occupied homes.
The number of foreclosures in Colorado fell by more than 1,000, or 18 percent, from January to June, from the same period last year, but it wasn’t enough of a decline to knock the state from the top ranking.
ASPEN
Buyers plan homes on cattle-ranch land
New York-based Apollo Real Estate Advisors’ Real Estate Fund V LP and Austin Lawrence Partners of Aspen have acquired a 124-acre parcel in the Roaring Fork Valley near Aspen for $48.5 million.
The property, which currently operates as the Bar/X cattle ranch, is approved for 13 single-family-home lots.
SAN FRANCISCO
Antitrust suit to name MediaNews, Hearst
Clint Reilly, a former San Francisco mayoral candidate, plans to file an antitrust lawsuit against Denver-based Media News Group Inc. – publisher of The Denver Post – and Hearst Corp., seeking to block buyouts of former Knight Ridder Inc. papers in California.
Joseph Alioto, Reilly’s attorney, said Thursday in a statement that the suit to be filed today will accuse the companies of violating antitrust laws by attempting to take control of every major newspaper in the San Francisco Bay Area.
Jody Lodovic, president of MediaNews, hadn’t seen the lawsuit and had no comment. Paul Luthringer, a spokesman for Hearst in New York, didn’t return a call for comment.
GREELEY
UAP Holding buying Terral AgriService
UAP Holding Corp., a Greeley-based distributor of agricultural products, said Thursday that it agreed to acquire Terral AgriService Inc. and certain assets of Terral FarmService Inc. and Wisner Elevator Inc.
Louisiana-based Terral is a chemical, fertilizer and seed distributor with more than 3,000 customers.
NEW YORK
Colo. beers to be on CBS’s “Early Show”
Charlie Papazian, president of the Brewers Association, will promote Colorado beermakers on CBS’s “The Early Show” today.
The Winnebago tour will stop in Denver and feature beer from Denver breweries, including Great Divide Brewing.
WASHINGTON
Official: Post-9/11 loan program disastrous
A post-Sept. 11 loan program was a disaster in the making because the government could not verify that most loans actually went to businesses affected by the attacks, a federal official told Congress on Thursday.
Eric Thorson, inspector general for the Small Business Administration, said his office could not determine in 85 percent of the loan cases it examined whether the businesses qualified for some of the billions of dollars handed out after the terrorist attacks on New York and Washington.
ATLANTA
Bond revoked for hedge-fund manager
A federal judge revoked bond Thursday for a hedge-fund manager accused of bilking investors ranging from NFL players – including former Denver Broncos safety Steve Atwater – to his mother out of millions after a prosecutor disclosed that the suspect kept a journal in which he mused about places to flee.
U.S. District Judge Clarence Cooper said no amount of bail could guarantee that Kirk Wright would appear in court to face fraud charges.
DALLAS
Dell to cut back on mail-in rebates
Dell Inc. said Thursday that it plans to gradually reduce its use of mail-in rebates and its confusing array of promotional offers.
Ro Parra of Dell acknowledged the programs had become increasingly cumbersome for customers.
