Metro area’s GDP far Exceeds U.S. Average
WASHINGTON — In a report to be released today, the Denver area was listed in the top 25 cities nationally as measured by 2005 employment.
The Brookings Institution’s Metropolitan Policy Program said the area had 1.26 million jobs in its two major employment centers, Denver and Aurora.
The area’s gross domestic product was $131.6 billion, more than 1 percent of the total GDP for the U.S. The Denver metro GDP per job is $104,282, well above the national average.
Level 3 must abide by contract DOVER, DEL. — Officials at XO Communications said Monday that the Court of Chancery of the state of Delaware ordered Broomfield- based Level 3 to perform its duties and obligations under its fiber agreements with XO.
In the ruling, which stems from a complaint filed last year by XO, the court determined that XO has the right to light fiber it acquired from Level 3. Level 3 said the ruling clarifies an existing contract.
On-time record at DIA mixed. Denver International Airport ranked No. 4 for on- time-arrival performance among major airports in September, according to data released Monday by the Bureau of Transportation Statistics.
That’s up from the No. 11 spot in September 2006. About 85.7 percent of flights arrived on time at DIA in September, up from 80.5 percent in the year-ago month.
But for the year through September, DIA fell to No. 12 for on-time arrivals, from No. 6 in the same period in 2006.
For U.S. airlines across the nation, 81.7 percent of flights were on time in September, an improvement over the same month of 2006. But after a summer of delays, airline on-time-arrival performance for the year through September was the worst in 13 years.
Qwest bond sale falters. Qwest said it held $119 million of auction-rate bonds that failed to attract enough bidders, leaving the company unable to sell them at face value as expected.
Auction securities are bonds whose interest rate is set at regularly scheduled auctions, ranging from daily to every five weeks. Because they offered higher interest rates than other investments due in a month or less, they have been popular with many corporate treasurers.
Crocs shares dive again NEW YORK — Crocs Inc., the Niwot-based maker of colorful plastic clogs, fell as much as 16 percent after Barron’s said the stock may drop to the $30s.
Crocs declined $6.07, or 13 percent, to $41.45 in Nasdaq Stock Market trading Monday. Its shares plunged 36 percent Thursday after the company forecast 2007 sales that may miss analysts’ estimates and said inventory quadrupled.
Immunity in wiretapping opposed WASHINGTON — Civil-liberty groups on Monday urged lawmakers to reject a compromise that would offer phone companies immunity for their alleged role in the government’s secret wiretapping program.
The proposed compromise would allow court cases to move forward against the phone companies, including AT&T Inc. and Verizon Communications Inc. The phone companies would be exempted from having to pay financial penalties.
Ex-Hollinger chairman denied new trial CHICAGO — Conrad Black, the former Hollinger International Inc. chairman convicted in July of mail fraud and obstruction of justice, lost a post-trial bid for acquittal or a new trial.
U.S. District Judge Amy St. Eve in Chicago denied the requests by Black and two other former Hollinger executives.
