The Daniels Fund on Wednesday announced a $3 million gift to fund a faculty chair in business ethics at the University of Denver’s Daniels College of Business. DU will enhance the gift with another $2 million.
“The Bill Daniels legacy is alive and well,” said Karen Newman, dean of the college. “We are honored to have been selected for this significant gift that recognizes the importance of laying a solid ethical foundation for business-school graduates.”
The chair will be named for Bill Daniels, the late cable pioneer who worked with the university to incorporate ethics, values and social responsibility in the business-school curriculum. During his lifetime, Daniels gave more than $22 million to support DU’s College of Business and other university programs.
The business college was renamed for him in 1994 after he awarded the college a challenge grant to update the graduate business curriculum.
“Bill Daniels not only saw the importance of business ethics, he lived it every day in his business life,” said Linda Childears, president and chief executive of the Daniels Fund. “We are honored to continue his commitment to the Daniels College of Business.”
LAKESIDE
Avanza supermarket in Lakeside closing
The Avanza supermarket in Lakeside Center is closing. A store manager who declined to give her name said the store’s lease has expired. She did not say how long the store will remain open. It is already holding liquidation sales.
The store is in Lakeside Center, which this year was purchased by Chandelle Development. The company has not indicated its plans for the mall.
Avanza owner Nash Finch Co. had previously said it would try to sell its Denver-area stores, but a company executive later told analysts it would continue operating the stores if a buyer did not step forward.
WINTER PARK
$4.8 million put into resort improvements
Winter Park Resort announced Wednesday it has invested $4.8 million in on-mountain improvements for the upcoming ski season.
Several improvements have been made to the backside of the Parsenn Bowl, including the addition of a new triple chairlift along the Vasquez Cirque and seven new trails. Other enhancements include a renovation of the Snoasis midmountain lodge and improved snow fencing.
DENVER
Colorado Tech Week to run Sept. 18-22
The second annual Colorado Tech Week, hosted by the Colorado Office of Economic Development and International Trade, will be held Sept. 18-22.
The week-long series of events will showcase the technology, business, government, workforce, education and capital resources in Colorado. For a complete list of events around the state, visit www.colorado techweek.com.
SAN FRANCISCO
Brocade ex-CEO pleads not guilty Gregory Reyes, the first chief executive indicted for improperly backdating stock options, has pleaded not guilty to charges he committed securities fraud at Brocade Communications Systems Inc.
Reyes, 43, who appeared before U.S. Magistrate Judge Edward Chen on Wednesday in San Francisco federal court, quit last year as head of the maker of computer equipment after an earnings restatement.
ALVISO, Calif. TiVo’s quarterly loss tops last year’s 7-fold
TiVo Inc. reported a quarterly loss that was seven times greater than the red ink a year ago, mainly because of hefty legal costs associated with a high-stakes intellectual-property patent dispute with Douglas County-based EchoStar Communications Corp.
In the three months ended April 30, the digital-video-recorder maker said Wednesday it lost $6.45 million, or 7 cents per share, compared with a loss of $892,000, or 1 cent per share, in the year-ago period. Revenue rose 50 percent to $59.2 million.
ATLANTA
Delta reports profit of $69 million for July
Delta Air Lines Inc., the largest U.S. carrier operating in bankruptcy, said it had a $69 million profit in July, compared with a $41 million loss last year.
Excluding costs to revise aircraft leases and restructure operations, the profit rose to $99 million, Atlanta-based Delta said Wednesday in a statement. The carrier is required to file monthly financial reports to the bankruptcy court.
PRUDHOE BAY, Alaska
Interior chief inspects pipeline corrosion
Interior Secretary Dirk Kempthorne was getting his first look Wednesday at BP Alaska’s pipeline corrosion that shut down some North Slope oil production but said the problems should not prevent new drilling in some environmentally sensitive areas.
Kempthorne toured an oil-processing facility operated by ConocoPhillips 60 miles west of Prudhoe Bay, where he was told its practice is to run pipeline “pig” tests to guard against corrosion every two years.
TORONTO
Court freezes assets of ex-media tycoon
A Canadian court has frozen all the assets of former media tycoon Conrad Black and his wife, Barbara Amiel, putting the couple on an allowance of about $20,000 a month, according to a person familiar with the court order.
Black will stand trial next year on charges that he and other Hollinger executives looted the company of $84 million while Black was chairman and chief executive.
Judge Colin Campbell of the Ontario Superior Court issued the freeze, known as a Mareva order, in response to a request from Hollinger Inc.
WASHINGTON
Feds mull tightening body-parts oversight
The second body-parts scandal in a year has federal health officials asking if they need to tighten their oversight of the trade in human tissues and organs.
The Food and Drug Administration said Wednesday it has formed a task force to study its regulation of the industry, including the effectiveness of rules implemented last year.
WASHINGTON
FedEx Express OK’d for more China flights
FedEx Express announced Wednesday it was granted permission by the Department of Transportation to start additional weekly flights to China, bringing its total to 30.
