Denver – Supporters of Amendment 37, the renewable energy standard passed by Colorado voters in 2004, lauded Xcel Energy on Tuesday for its commitment to renewable energy.
Representatives from Western Resource Advocates, Environment Colorado and the 25×25 Coalition gathered to express their support for Xcel Energy’s renewable energy efforts. “The voters asked for more renewable energy and Xcel Energy stepped up to the plate,” said Matt Baker, executive director of Environment Colorado.
Additional business news briefs
PLEASANTON, Calif.
Ross buys 46 closed Albertsons groceries
Discount retailer Ross Stores Inc. on Tuesday said it has purchased 46 shuttered Albertsons stores in Colorado, Arizona, California, Florida, Oklahoma and Texas from Albertsons LLC.
A Ross representative declined to say how many Colorado stores the company purchased or where they are located.
An spokeswoman for Albertsons LLC did not return a message. Albertsons LLC closed 16 Colorado stores earlier this year.
GREELEY
Swift plant will keep trimming back hours
Swift & Co. said Tuesday it will continue production cutbacks at three of its four domestic beef-processing plants, including the facility in Greeley.
Several weeks ago the plants cut back operating times from 40 hours a week to a range of 32 to 37 hours a week.
Swift said the cutbacks were caused by high cattle prices, seasonally weak domestic boxed beef demand and limited access to key international export markets.
DENVER
Sale of bonds help refund DIA debt
An underwriting syndicate led by Goldman Sachs and Piper Jaffray has sold $280 million in bonds that refund Denver International Airport debt originally issued in 1996, the city and county of Denver said Thursday.
The bonds create a net present value savings of greater than $25 million.
DOUGLAS COUNTY
Liberty’s QVC to get $1.75 billion credit line
QVC Inc., a subsidiary of Liberty Media Corp., announced in a Securities and Exchange Commission filing that it will acquire an unsecured $1.75 billion credit facility from Wachovia Bank, Bank of America and J.P. Morgan Securities Inc.
The credit agreement will consist of a $800 million initial term loan to be made upon closing, which is expected Friday.
LOS ANGELES
Anschutz ranks 8th on mag’s movers list
The Los Angeles Times’ West Magazine has named Denver financier Philip Anschutz, 66, the eighth most powerful player in California.
“Southern California has more than its share of absentee landlords. Few, however, have had as much impact as Anschutz,” owner of the Staples Center, the Home Depot Center, nearly 30 percent of the Los Angeles Lakers, and other L.A. sports franchises, the magazine said.
AURORA
Amazing Jake’s hiring 350 at its new store
Amazing Jake’s Food n’ Fun, an 87,000-square-foot family dining and entertainment facility planned for Aurora, said it plans to hire 350 full- and part-time employees prior to its opening early next year.
Positions will include cashiers, game and ride attendants, kitchen staff and sales assistants and pay a minimum of $15 per hour. The company is accepting applications on-site at 1400 S. Abilene St. or through its website, www.amazingjakes.com.
LITTLETON
Champps extends its loans with LaSalle
Littleton-based Champps Entertainment Inc. on Tuesday said it had amended a credit agreement with its lender, LaSalle Bank, for a fourth time.
The amendments extend the maturity date by three years to 2010 and allows for a possible additional loan in the future. The agreement also limits the company to opening no more than eight new restaurants per year.
HOUSTON
120 Joe’s Crab Shacks swim to a new LLC
Landry’s Restaurants Inc., a casual dining company, agreed to sell 120 of its Joe’s Crab Shack restaurants to JCS Holdings LLC, a new entity created to acquire the restaurants by J.H. Whitney Capital Partners LLC, a private-equity group.
The $192 million sale price includes all Colorado locations, including three in the Denver area and two in Colorado Springs.
DENVER
DCP agrees to buy Gas Supply Resources
Denver-based DCP Midstream Partners LP will acquire Gas Supply Resources from Duke Energy Field Services, the parent of the partnership’s general partner, for $77 million in cash and stock.
DCP said the acquisition is expected to add about $8.5 million to its earnings before interest, taxes, depreciation and amortization next year.
SEATTLE
Microsoft sends out six red-alert patches
Microsoft Corp. on Tuesday released six patches to fix software flaws that carry its highest threat rating, including three for defects that attackers were already trying to exploit.
The company said all six of the critical flaws could allow an attacker to obtain some access to other people’s computers.
The software maker also released four other software patches for defects.
