Moffat – After 46 years of cattle ranching in Saguache County, the Weiss family is selling its 2,500-acre ranch in an absolute auction July 12.
In an absolute auction, the property sells to the highest bidder with no minimum bid.
The ranch will sell in seven parcels ranging from 236 acres to 524 acres. Another 480 acres of leased state land also is included in the sale.
Flanked by the Sangre de Cristo Mountains to the east and the San Juan range to the west, the ranch has two large artesian wells, as well as surface rights from Rito Alto Creek and San Luis Creek. The property also includes the family’s four-bedroom log home.
For more information about the auction, contact J.P. King Auction Co. at 800-558-5464 or visit the company’s website at
Additional business news briefs:
DENVER
Colorado holds No. 2 spot for foreclosures
Colorado continued to hold the No. 2 spot for foreclosures in May, sandwiched between Nevada and California, according to RealtyTrac, an Irvine, Calif.-based provider of foreclosure listings.
Colorado public trustees recorded one foreclosure filing for every 290 households during May. The rate was 1 in 166 in Nevada and 1 in 308 for California.
Denver ranked seventh in terms of foreclosure filings per household.
DENVER
Settlement reached on oral contraceptive
Attorney General John Suthers announced the settlement of a civil suit Tuesday against the makers of the oral contraceptive Ovcon.
The lawsuit, initiated by Colorado and joined by 33 other states and the District of Columbia, charged Warner Chilcott and Barr Pharmaceuticals with antitrust violations that prevented generic versions of Ovcon, a prescription oral contraceptive, from reaching the marketplace.
As part of the settlement, Warner Chilcott will pay $5.5 million to Colorado and other litigating states.
DENVER
United Health funds to expand rural care
United Health Foundation has given $1 million to the Colorado Department of Local Affairs, to fund the Colorado Rural Mobile Health Project.
The programs’ grants will support eight health organizations in launching or expanding mobile health care projects in rural areas of the state.
BOULDER
Hearing set for Whole Foods-Wild Oats deal
A preliminary hearing has been set for July 31 to decide whether Wild Oats Markets and Whole Foods Market should be allowed to merge, the two companies said Tuesday.
The hearing, which will conclude on Aug. 1, stems from the Federal Trade Commission’s application to block the proposed merger of the nation’s two largest natural-foods grocers.
Whole Foods of Austin, Texas, announced in February it would acquire Boulder-based Wild Oats for about $670 million.
DENVER
Republic seeks OK to fly routes for Frontier
Republic Airline Inc. has applied for U.S. Department of Transportation permission to fly for Frontier Airlines from Sacramento and San Jose, Calif., to San Jose del Cabo, Mexico, and from Albuquerque, N.M., to Puerto Vallarta, Mexico.
Frontier has asked Republic to fly daily year-round from Sacramento and San Jose, Calif., to San Jose del Cabo starting around Oct. 24 – an increase from Frontier’s existing service on those routes – and to fly from Albuquerque to Puerto Vallarta seasonally three times a week starting around Dec. 15, according to the application.
CAJAMARCA, Peru
Newmont pay crisis leads to kidnappings
Peruvian villagers attacked installations near Newmont Mining Corp.’s Minera Yanacocha SRL, the world’s largest gold mine, after a court prevented the mine from paying contract workers.
Villagers demanding payment kidnapped 18 workers and seized 10 heavy-goods vehicles from a lime plant used to supply the mine, Yanacocha spokesman Felipe Ramirez said in a telephone interview. Police later released the workers and vehicles and arrested 13 villagers, he said.
NEW YORK
Suit against Adelphia lenders continues
A bankruptcy judge has declined to throw out a massive lawsuit brought by unsecured creditors and shareholders of Adelphia Communications Corp. against 380 lenders, including 24 investment banks, allegedly involved in the cable TV company’s collapse.
Judge Robert E. Gerber of the U.S. Bankruptcy Court in Manhattan dismissed on Monday some claims against banks accused of breaching fiduciary duties in their dealings with Adelphia’s former management, the founding Rigas family, which was convicted of looting the company.
WASHINGTON
Deficit lower in first part of budget year
The federal deficit is running sharply lower through the first eight months of this budget year as growth in revenues continues to outpace the growth in spending.
The Treasury Department said that the deficit through May totaled $148.5 billion, down 34.6 percent from the same period a year ago. That improvement came even though the deficit in May increased to $67.7 billion, up 57.8 percent from May 2006.
