Golden – Use of plug-in hybrid electric vehicles can produce fewer emissions and significant fuel savings compared with vehicles with conventional combustion engines, according to a study released Wednesday by Xcel Energy and the National Renewable Energy Laboratory.
The study determined that plug-in hybrids cut carbon-dioxide emissions by one-half and save owners more than $450 a year in fuel costs.
Xcel said a “smart” power grid under development would allow charging of hybrid batteries during low power-demand periods, while the cars could feed energy into the grid during high-demand times.
Additional business news briefs:
DENVER
Qwest: Ruling allows local, long-distance mix
Qwest said Wednesday that the Federal Communications Commission has eased regulatory oversight of the company’s long-distance business.
The ruling, issued late Tuesday, will allow Denver-based Qwest to combine its local and long-distance businesses, cutting the company’s expenses. Previously, the company had to operate them as separate businesses.
The ruling also is expected help Qwest compete for large business customers because the company will be able to offer local and long-distance service under the same contract.
PARKER
Forde named CEO at Adventist Hospital
Centura Health, the largest health-care provider in Colorado, has named Terry Forde chief executive of Adventist Hospital in Parker. Forde is currently the chief operating officer of Porter Adventist Hospital in Denver.
He will assume his new duties March 1, moving into the position formerly held by Ken Bacon, who was appointed CEO of Littleton Adventist Hospital in December.
ROCKFORD, Ill.
Judge OKs Woodward Governor settlement
A federal judge in Rockford, Ill., has approved a $5 million settlement resolving two class-action employment discrimination lawsuits against Woodward Governor Co., based in Fort Collins.
A lawsuit filed by employees in 2003 accused the company of discriminating against blacks, Latinos and Asians in pay, promotions and training at two Illinois facilities.
The Equal Employment Opportunity Commission sued the global engine systems and parts company in October, adding a charge of discrimination against women. The suits were consolidated.
SCOTTSDALE, Ariz.
Milk processor expects rise in organic sales
Dean Foods Co., the biggest U.S. milk processor, expects increased sales of organic products this year as supplies rise after three years of constrained growth.
Organic-milk supplies will surpass demand for the first time in 2007 as more farmers are persuaded to switch production to organic regimens, Joe Scalzo, president of Dean’s Boulder- based WhiteWave Foods unit, told investors and analysts Wednesday at a conference.
DENVER
Judge orders Qwest stock records released
A federal judge ordered Qwest to turn over stock-option records of 33 former board members and executives Wednesday in the criminal insider-trading case of Joe Nacchio.
Attorneys for the former Qwest chief executive requested the subpoena for “grant detail” and “exercise reports” for former board members Philip Anschutz, Cannon Harvey, Craig Slater and others.
BEAVER CREEK
Liberty says it has no plans to unload Braves
Douglas County-based Liberty Media has no intention to sell the Atlanta Braves baseball team after it acquires it from Time Warner, chief executive Greg Maffei said Wednesday.
Maffei, speaking at the annual Venture Capital in the Rockies conference, cited several reasons for holding on to the property, including tax advantages. The deal must still be approved by Major League Baseball.
BEAVER CREEK
Venture-capital group changing its moniker
The Colorado Venture Capital Association announced Wednesday it will change its name to the Rocky Mountain Venture Capital Association.
The move is aimed at promoting the region and attract investment from venture capitalists on the East and West Coasts.
The new association, which will remain in Denver, will begin representing venture-capital firms in eight Western states.
DETROIT
UAW official says Ford has “a ton of cash”
Ford Motor Co., which had a record loss in 2006, “is in great shape,” the head of the United Auto Workers said after a labor economist suggested that the automaker may ask the union to accept reduced pay and benefits.
“They went through this huge financing. They have a ton of cash,” union president Ron Gettelfinger said in a radio interview Wednesday.
