Dow Jones & Co., publisher of The Wall Street Journal, has named a former Boulder resident and former Denver Post reporter as the new managing editor at its flagship paper, The Wall Street Journal.
Marcus Brauchli replaces Paul Steiger, who has led the paper since 1991. Brauchli is set to take over May 15. Steiger, 64, must retire by the end of the year because of the mandatory retirement age of 65 for executives at Dow Jones.
Brauchli, 45, was previously China bureau chief, a roving feature writer in Southeast and South Asia, a correspondent covering economics and finance in Japan, correspondent to Scandinavia, and a reporter for AP-Dow Jones News Service in Hong Kong. He has also written for, among other publications, The New York Times, the Financial Times, the Boulder Daily Camera and, when he was growing up in Boulder, the Boulder High School Owl.
LOUISVILLE
Two members leaving Replidyne’s board
Replidyne Inc., a biopharmaceutical company, disclosed Thursday that it will soon need to replace two board members.
Ralph E. Christoffersen has informed the company he will not seek re-election to the board. Henry Wendt has also decided to retire from the board, effective as of the company’s annual shareholder meeting May 10.
Neither departure relates to a disagreement with the company, according to a regulatory filing with the U.S. Securities and Exchange Commission.
DENVER
Analyst raises rating on Frontier Airlines
Calyon Securities raised its rating on Frontier Airlines to neutral from reduce, saying the stock has declined about 25 percent since mid-January, and 33 percent since October, on concerns of United Airlines and Southwest Airlines increasing their operations in Denver. However, Frontier should benefit from entering the stronger quarters for travel, according to the Calyon report.
“We still believe the airline faces severe pressure at its main operating base, Denver, from United Airlines and Southwest Airlines,” the report said.
Frontier shares closed at $6.16 Thursday, up 1.3 percent.
DENVER
Airline job tally shows first boost since 2004
U.S. airlines bumped up their employment 0.2 percent in February compared with a year ago, the first year-over-year increase in full-time equivalent employee levels since December 2004, according to the U.S. Bureau of Transportation Statistics.
United Airlines had about 51,900 full-time equivalent employees, down from 53,400 a year ago. Frontier Airlines had about 4,600 full-time equivalent employees, up from about 4,300 a year earlier.
DENVER
Post to offer staffers 2nd round of buyouts
The Denver Post said that it plans to offer a second round of buyouts to news employees. Workers will learn the details of the buyout offer early next week.
The newspaper, like others in the country, is working to trim costs in light of declining circulation numbers and stagnant growth in advertising revenue industrywide.
GREENWOOD VILLAGE
Red Robin extends contract with CEO
Red Robin Gourmet Burgers Inc. said in a regulatory filing that it has extended chief executive Dennis B. Mullen’s employment agreement through Dec. 31, 2010, and increased his annual base salary to $675,000.
The company also revealed in the filing that Mullen’s benefits include a $1,000-per-month car allowance and reimbursement for the expenses he incurs commuting from Arizona to the company’s headquarters.
GOLDEN
Einstein Bros. Bagels franchises set for Fla.
New World Restaurant Group Inc. on Thursday said its Einstein Bros. Bagels brand has signed a multi-unit development agreement with MC Squared Investments LLC to open the first Einstein Bros. franchises.
Orlando, Fla.-based MC Squared plans to build 21 Einstein Bros. locations throughout northern Florida in the next eight years, with the first restaurant expected to open in Jacksonville, Fla.
ATLANTA
Judge OKs payments by Delta Air Lines
A U.S. Bankruptcy Court judge authorized Delta Air Lines Inc. on Thursday to pay its lawyers, consultants and advisers $29.4 million for fees and expenses incurred over a four-month period.
The compensation period covers professional services performed for the Atlanta-based company in its bankruptcy case by 24 firms from Oct. 1, 2006, to Jan. 31.
Judge Adlai Hardin said in his order that some of the money has already been paid and that the rest was held back.
DETROIT
GM reveals plans for hydrogen hybrid
Although General Motors’ much anticipated plug-in hybrid is still years away, the automaker is already planning a sequel – a hydrogen-powered version.
Today at the Shanghai Auto Show, GM will announce plans to produce a hydrogen-fueled version of the Chevrolet Volt concept vehicle introduced in January at the Detroit auto show. Like the original Volt, it would be a plug-in powered by a lithium ion battery, but the battery would be mated with a hydrogen fuel-cell system rather than a small gasoline engine.
THOUSAND OAKS, Calif.
Amgen shares rise on anemia-drug findings
Amgen Inc. said its anemia drug Aranesp didn’t increase the risk of death for chemotherapy patients in a study, evidence that reported dangers from the medication may be limited.
Shares of Amgen, the world’s biggest biotechnology company, rose 3.9 percent after the research showed no difference in survival between lung-cancer patients getting the drug and those on a placebo. Amgen sponsored the study of 600 patients, the company said in a statement.
NOVATO, Calif.
Apartment rents rise across Western U.S.
Apartment rents rose in Western U.S. states in the first quarter as home sales slowed, real estate research company RealFacts said. The biggest increases were in Seattle and California’s Santa Clara and Ventura regions.
The average monthly rent in the West climbed 4.2 percent from a year earlier to $964, gaining in all but one of the 29 metropolitan areas tracked by RealFacts.
