Colorado’s foreclosure rate No. 1 in U.S. in 2nd quarter
Colorado recorded the highest foreclosure rate in the nation in the second quarter, according to RealtyTrac, a California provider of foreclosure listings.
One of every 158 homes was in some stage of foreclosure during the quarter in Colorado, compared with one in 425 nationally.
The top ranking was not unexpected, given that Colorado has led the nation on that measure for the past four months running. Colorado took the top spot from Georgia, which led the nation in the first quarter.
Overall, the pace of foreclosures in both Colorado and the U.S. showed signs of slowing in the second quarter over the first quarter.
Qwest board gains member
Qwest has named a new director. Anthony Welters, president and chief executive of AmeriChoice, a health-services company, will bring “an impressive background” to the board, said Richard Notebaert, Qwest’s chairman and chief executive.
CALGARY, Alberta
Newmont sells rights to Canadian oil sands
Korea National Oil Corp. bought rights from Denver- based Newmont Mining Corp. to develop Canadian oil sands for $270 million as it seeks energy supplies for Asia’s third-largest economy.
State-run Korea National agreed to buy Newmont’s entire stake in the BlackGold oil-sands leases in Alberta, South Korea’s Ministry of Commerce, Industry and Energy said in a statement.
GOLDEN
Jeffco starts task force to foster energy firms
Jefferson County has created the Energizing Tomorrow Task Force to help foster economic growth in the energy sector.
Officials said Jefferson County is home to one-third of the energy-related workforce in metro Denver and has become a focal point of renewable-energy development.
The task force will focus on state and federal legislation, business-development funding and modifying land-use regulations to accommodate renewable-energy devices.
ARAPAHOE COUNTY
ATG honored for role in Tuskegee project
Red Tail Project recognized Centennial Airport-based Aviation Technology Group as one of its major donors at the AirVenture convention and air show in Oshkosh, Wis., this week.
According to Red Tail Project, Ben Bailey, an investor in the Javelin jet that ATG is developing, spearheaded some fundraising for the effort, which honors the history and accomplishments of the Tuskegee Airmen, an African-American fighter group during World War II.
GRAND JUNCTION
Actor Schroder sells ranch for $27 million
Ranch Marketing Associates announced Tuesday the sale of actor Rick Schroder’s 15,000- acre ranch, called Mesa Mood Ranch, in Glade Park near Grand Junction for $27 million.
Rick Schroder, a star on the TV hit “NYPD Blue,” has operated the land as a “Ranching for Wildlife” site for many years.
DENVER
DIA issues bonds to make use of low rates
Denver International Airport said Tuesday it issued $170 million in bonds to refund bonds issued in 1996. DIA said it took advantage of historic lows in long-term interest rates, leading to $8.3 million in net present value in savings.
DIA plans to offer a second series of 2006 refunding bonds, in the amount of $285 million, in early August.
OAK BROOK, Ill.
McDonald’s to finish Chipotle deal in Oct.
Oak Brook-based McDonald’s Corp. said Tuesday it plans to complete the disposition of its remaining interest in Denver- based Chipotle Mexican Grill by the end of October.
The company’s board of directors has approved a tax-free exchange of Chipotle shares for McDonald’s stock and plans to file a registration statement related to the exchange offer within the next few weeks.
DOUGLAS COUNTY
TeleTech launches facility in Guadalajara
TeleTech Holdings Inc., a Douglas County-based business outsourcing provider, announced Tuesday the opening of a customer management center in Guadalajara, its third facility in Mexico.
The Guadalajara center will house 1,000 workstations for clients requiring English or bilingual program support.
DENVER
Average hotel rate rose to $109.16 in June
The Rocky Mountain Lodging Report released a revised figure for June statewide average hotel room rates, citing a data-entry error from the Estes Park area.
Statewide, the average daily room rate was $109.16, up $8.75 over June 2005.
BOULDER
Carrier Access will make Cingular gear
Carrier Access Corp. in Boulder said Tuesday it signed a three-year agreement with Cingular Wireless to make cellphone equipment.
New broadband access equipment and technology from Carrier will help Cingular offer multimedia services such as music downloads, e-mail, web browsing and video, the company said in a press statement.
BOULDER
Sunflower Market plans new store
Sunflower Market will open a new store in the Village Shopping Center at Arapahoe Avenue and Folsom Street in Boulder, property owner Gart Properties LLC said Tuesday.
The 25,000-square-foot store will take over a portion of the space currently occupied by United Artists Theaters.
HOUSTON
Judge won’t overturn Skilling convictions
A judge Tuesday summarily rejected a request by former Enron chief executive Jeff Skilling to overturn his convictions of fraud, conspiracy and other charges for helping perpetuate one of the most notorious corporate frauds in history.
Skilling had claimed that evidence presented at his four- month trial alongside Enron founder Ken Lay was insufficient, and that his convictions on 19 of 28 criminal counts should be thrown out. With no explanation, U.S. District Judge Sim Lake denied the request.
PALO ALTO, Calif.
HP to buy Mercury software company
Hewlett-Packard Co., the world’s second-biggest personal-computer maker, agreed to buy software maker Mercury Interactive Corp. for about $4.5 billion. Mercury shareholders will receive about $52 a share in a cash tender offer.
The purchase is Hewlett-Packard’s biggest since buying Compaq Computer Corp. for $18.9 billion in 2002. Chief executive officer Mark Hurd is snapping up Mercury while it is embroiled in regulatory probes over its grants of options to top executives, three of whom left the company.
