THE BUSINESS T IMES News APRIL 9-22, 2020
Trends a hand Lending
THE DEFINITIVE SOURCE FOR GRAND JUNCTION BUSINESS NEWS SINCE 1994
In this issue n Less confident
2
A measure of confidence among Colorado business leaders has tumbled to its lowest level ever.
VOLUME 27, ISSUE 7
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n Businesses advised to tap loan programs to survive outbreak. Coverage begins on page 2
Contributors Opinion 2 Business Briefs 4 Business People Almanac
n Tracking effects Half of Grand Valley business owners and managers who responded to a survey said their revenues have dropped.
n Best areas
Mesa County climbed another 50 spots in a ranking of how small metro areas fare for labor gains and high-tech output.
n Market update While 2020 started well for the Mesa County real estate market, it remains to be seen how the year will end.
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n Steady for now
The Paycheck Protection and Economic Injury Disaster loan programs offer financial help to small businesses effected by the coronavirus outbreak.
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The Mesa County jobless rate held steady in February, but is expected to climb in coming months.
n Stronger together
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Businesses play a crucial role in slowing the spread of the coronavirus, making sacrifices to help the community.
n Departments
Business Briefs Business People Contributors News Opinion Trends
24 26 17-21 2-14 22-23 15-16
Business Times illustration by Phil Castle
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THE BUSINESS T IMES News The Business Times
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aPril 9-22, 2020
Lending a hand
Colorado Trends business Contributors confidence at new low Opinion J Business Briefs Business People Almanac Businesses advised to tap loan programs
Survey results reflect coronavirus concerns
on Maraschin has straightforward advice for business owners and managers considering whether or not to apply for federal loans intended to offer financial relief in the midst of the coronavirus outbreak. “If you’re in business and need the money, apply,” says Maraschin, executive director of the Business Incubator Center in Grand Junction. As of press time on April 7, details of Jon Maraschin the programs were still being worked out even as local banks scrambled to process applications. See HAND page 13
Phil Castle
The Business Times
FOR YOUR INFORMATION
Loans are available to small businesses affected by the coronavirus outbreak. Those efforts include the Paycheck Protection and Economic Injury Disaster programs.
More information about the Paycheck Protection and Economic Injury Disaster loan programs is available from a number of sources: n The U.S. Small Business Administration website is located at www.sba.gov. n Coaches at the Small Business Development Center in Grand Junction are available for free telephone and video consultations. Call 243-5242 or email frontdesk@gjincubator.org to register. n The Colorado Office for Economic Development and International Trade has set up an online business resource center at the website at https://choosecolorado.com.
STORY AND ILLUSTRATION BY PHIL CASTLE
Chamber surveys tracking outbreak effects Phil Castle
The Business Times
Half of Grand Valley business owners and managers responding to a survey reported revenues have dropped anywhere from 25 percent to 50 percent or more as a result of the coronavirus outbreak. Diane Schwenke, president and chief executive officer of the Grand Junction Area Chamber of Commerce, said she expects those proportions to increase as subsequent chamber Diane Schwenke surveys track the effects of the outbreak. Closures, stay-at-home orders and other measures implemented to slow the spread of the outbreak also have affected businesses. Moreover, the outlook remains uncertain, Schwenke said. “We don’t have an indication on how long this will last.” In the meantime, the chamber will continue to monitor the
Coverage of the coronavirus and its effects on the local, state and national economies continues inside. effects on local business and determine how best to assist them and meet their needs, she said. So far, the Grand Junction chamber has compiled on its website at www.gjchamber.org a list of resources as well what’s dubbed a takeout toolkit connecting customers to local food service options. The Grand Junction, Fruita and Palisade chambers also have joined to present a series of free webinars intended to help businesses get through the outbreak. While collaboration long has been a hallmark for business organizations in the Grand Valley, Schwenke said those efforts have never been more pronounced. See SURVEYS page 12
A measure of confidence among Colorado business leaders has tumbled to its lowest level ever as concerns over the coronavirus outbreak mount. “We expected this was going to be bad. It was particularly dismal,” said Brian Lewandowski, executive director of the research division of the Leeds School of Business at the University of B. Lewandowski Colorado at Boulder. The Leeds Business Confidence Index for the second quarter dropped 21.1 points to 29.7. Readings below 50 reflect more negative than positive responses. At this time last year, the index R. Wobbekind stood at 52.7. The latest reading is the lowest for the index since its inception in 2003. The decrease between the first and second quarters also was the largest single decline. Four of six metrics the index tracks fell to record-low levels. Business leaders expect conditions to improve in the third quarter, although not to levels before the outbreak, Lewandowski said. “It is less negative than the outlook for the second quarter.” The research division of the Leeds School of Business calculates the index based on the results of surveys of business leaders in a variety of industries from across Colorado. A total of 423 leaders, most of them business owners and managers, responded to the latest survey conducted between March 1 and 20. The index dropped to 29.9 about half way through the Great Recession. But the latest decline was more sudden, Lewandowski said. “This kind of hit us in the face overnight.” Richard Wobbekind, senior economist at the Leeds School of Business, equated the economic effects of the outbreak to a natural disaster, only on a larger scale. “It’s as if a hurricane hit the entire country.” See CONFIDENCE page 14
April 9-22, 2020
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well-rounded perspective in latest ranking of to new Mesa County role top-performing areas
Phil Castle The Business Times another 50 Mesa County climbed spots in the latest comparison of how small Frank Whidden brings what he metropolitan areas fare for growth in jobs, considers well-rounded perspective to his wages andahigh-tech output. new Mesa job asCounty Mesa County administrator. ranked 81st in the Milken Whidden worked Cities Index for Institute Best-Performing in information 2020, up from 131st in the 2018 ranking. technology andtheholds The gain was 13th largest among all ametro master’s degree inin the index. areas evaluated computer Mesa information County ranked highest in the systems. But latest index forhe jobalso and wage growth from holds a but doctoral 2017 to 2018, lower for growth in gross degree applied domestic in product in the high-tech sector. management The index rankedandthe Grand Junction decision making and area, metropolitan statistical is the Frankwhich Whidden worked for more than same as Mesa County. 20 years as a Institute minister.ranked Whidden has The Milken 200 large worked for large and 201 small organizations metropolitan areas and small metro areas in the both the private andaccount public sectors. index, taking into job and wage Whidden expects to draw oncompanies. all of his growth and output of high-tech experiences helping Mesa policies County The Californiainthink tank promotes commissioners and carry out to decisions. that create job,make improves access capital Valuing health. staff and making the county and enhance an employer of choice is among Mesa County has ranked as high the as priorities, Whidden said.areas So during is planning third among small metro what that in asustainable and was atresults the time natural gas funding development balanced budgets on a long-term basis.less boom in Western Colorado, but fared Mesa County inwill well Meanwhile, in the aftermath of downturns the continue to pursue effortseconomy. that promote energy sector and overall Sincea friendly business and falling to 187th, Mesa environment County has jumped economic development, said. a total of 106 spots in the Whidden past two rankings. Whidden officially began working as For the 2020 index, Mesa County county administrator the beginning of ranked highest amongatsmall metro areas the year. He Tom Fisher, at 17th for succeeds wage growth from who 2016was to hired as 28th county manager Summit 2017 and for job growthinfrom 2017 County, to 2018. Utah. Mesa County ranked 29th for job Whidden County in growth over thejoined past 12Mesa months, but 73rd August 2011 as information technology for job growth from 2013 to 2018. director. April 2014, he 156th became MesaInCounty ranked fordeputy GDP county administrator forfromresource growth in the high-tech sector 2017 to management in for a staffing reorganization 2018 and 178th high-tech output from that 2013eliminated to 2018. four director positions. Before joining MesasmallCounty, Pueblo, the only other metro Whidden worked for a company area in Colorado included in theproviding Milken information technology index, fell 21 places to 99th. services to colleges andlarge universities. In that role, he Among metropolitan areas, three managed IT systems and services for Colorado areas ranked among the top 25. institutions Alabama, Arizona, Illinois The Denver,inAurora and Lakewood metro
as well as New England and Canada. Whidden said people who work in BEST CITIES ATaren’t A GLANCE information technology just “geeks,” but offer an important perspective because Here’s a look at the top large they’re familiar with nearly every aspect of and small metropolitan areas, operations and how work gets done. They along with Colorado areas, also tend to think about new and potentially in the 2020 Milken Institute better ways of doing things in asking and Best-Performing Cities Index: answering “what if ” questions. “They know n Large areas how to effect change in an organization.” 1. San Francisco Whidden expects to bring that same 2. Provo-Orem, Utah approach to his duties as administrator. 3. Austin-Round Rock, Texas Whidden said it’s his role to help 4. Reno, Nev. county commissioners make and then 5. Orlando-Kissimmee, Fla. implement decisions. The commissioners 5. San Jose-Sunnyvale, Calif. in turn represent the residents of the 18. Denver-Aurora-Lakewood county and express their will, he said. “We 20. Greeley work for the people.” 21. Fort Collins Whidden said he also considers himself 28. Boulder a liaison between the commissioners and 36. Colorado Springs county staff, and one of the priorities is to n Small areas make sure employees feel valued. Whidden 1. Bend-Redmond, Oregon said he hopes not only to improve morale, 2. Grants Pass, Oregon but also take steps that will make Mesa 3. Logan, Utah County an organization for which people 4. St. George, Utah want to work. 5. Coeur d’Alene, Idaho Meanwhile, Whidden expects the 5. The Villages, Fla. county to continue policies and initiatives 81. Grand Junction that support local business and economic 99. Pueblo development. There are additional steps that can be taken to make it easier for local businesses to sell services to area climbed six products spots to and 18th. Greeley the county, added. jumped 22 he spots to 20th overall with top Mesa County willand keep with 10-rankings for wage jobworking growth. Fort other government Collins dropped 12 entities, spots to organizations 21st overall. and institutions environment Boulder jumpedon 34fostering spots to an 28th. Colorado that supports existing businesses Springs moved up 22 places to 36th. and attracts new businesses, he said. Nationwide, the Bend and Redmond there the could be a areasWhidden of Oregonsaid remained top-ranked opportunities to encourage the additional small metro area. Grants Pass, Oregon, development of Logan businesses thatGeorge provide finished second. and St. in services tothird the agricultural as well Utah were and fourth, industry respectively. as promote County as a distribution The SanMesa Francisco, Redwood City and center San for the region. area moved up three South Francisco important is to consider spotsThe to rank as the thing top large metro area. issues from well-rounded perspective, The Provo anda Orem area of Utah slipped a Whidden said. The “WeAustin won’t and be myopic we spot to second. Round as Rock look of at Texas things.” area remained third. ✦ F
Chamber honors expansive efforts Life is Precious
Serving families of the Western Slope for more than 100 years.
The Grand Junction Area Chamber of Commerce honored a total of five companies and organizations for expansions involving a combined $16.5 million in investments and 37 jobs. The five were honored during a quarterly chamber membership meeting. Caprock Academy was recognized for an expansion to its charter school involving $12.2 million and six jobs. Legacy Academy was honored for the purchase and renovation of a larger building for its gymnastics, dance and obstacle course training facility. The effort involved an investment of $3.75 million and creation of 12 jobs.
Adrenaline Driven Adventure Co. was awarded for an expansion involving a $300,000 capital investment and 12 additional jobs. The company offers off-road vehicle rentals and tours. Bassett Furniture was recognized for a $200,000 expansion and the creation of four jobs. Ariel Clinical Services was honored for opening Perdita’s Coffee, a retail operation selling coffee and cookies while also providing jobs for adults with developmental and intellectual disabilities. The expansion involved a $35,000 investment and three additional jobs. F
April 9-22, 2020
The Business Times
Real estate update: First quarter strong, but outlook uncertain Phil Castle
The Business Times
While 2020 has started well for the Mesa County real estate market, it remains to be seen how the year will end given the potential effects of the coronavirus outbreak. Robert Bray, chief executive officer of Bray Real Estate in Grand Junction, said he expects a strong recovery, but first a pause for buyers and sellers. “It’s slowing activity in that regard.” Annette Miller, Robert Bray senior vice president of Heritage Title Co. in Grand Junction, wouldn’t speculate about the real estate market, but said every aspect of the economy likely will be affected by the outbreak. And the economy of the country won’t recover Annette Miller until the health of the country recovers, she said. For the first quarter, though, real estate activity in Mesa County outpaced the same period last year. Miller said 1,093 transactions worth total of $333 million were reported during the first three months of the year. Compared to the same span last year, transactions rose 6.1 percent and dollar volume increased 5.4 percent. For March alone, 449 transactions were reported, matching the same month last year. Dollar volume fell 10.3 percent to $122 million, she said. Three transactions worth a total of more than $5 million bolstered dollar volume, she said. They included the sale of commercial warehouses and storage units on five parcels for $3 million, a warehouse
and parking for $1.09 million and two residences on 5 acres for $1 million. The total was greater for March 2019, however, with the sale of a medical office building and the Aspen Ridge Alzheimer’s Special Care Center for a total of nearly $12.1 million. According to numbers tracked by Bray Real Estate, 778 residential real estate transactions worth a total of $228 million were reported in the first quarter of 2020. Compared to the same span in 2019, transactions increased 4.7 percent and dollar volume rose 10.7 percent. The median price of homes sold during the first quarter of 2020 climbed to $270,000, an 8 percent gain over the first quarter of 2019. Housing inventories remain low. At the end of March, there were 596 active residential listings. That’s down 4.8 percent from the same time last year and a fourth consecutive month in which active listings fell below 600. Bray said the response to the coronavirus outbreak must focus first on the health of families, then employees and the needs of customers. As for real estate, Bray said activity will continue, although likely slow as buyers and sellers deal with other issues. But when the outbreak is over, Bray said he expects a rebound in the local market. “I think we’ll see it come back strong.” Meanwhile, property foreclosure activity continues to decease in Mesa county. Miller said 60 foreclosure filings and 15 sales were reported during the first quarter. Compared to the same span last year, filings slipped 1.6 percent and sales dropped 65.9 percent. The 12 resales of foreclosed properties during the first quarter of 2020 constituted just 1.1 percent of all transactions, a fraction of the 10 percent threshold Miller considers indicative of a healthy real estate market. F
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Half of owners expect firms Local foster grandparents could last only two months still receiving their stipends if outbreak effects persist Phil Castle
The Business Times
About half the members of a small business advocacy group — most of them small business owners — responding to a survey say their operations can survive no more than two months if the effects of the coronavirus outbreak persist. “The situation caused by COVID-19 has caused serious pain to small business owners, and it will take time for the pain to stop,” said Tony Gagliardi, Colorado state director for the National Federation of Tony Gagliardi Independent Business. Gagliardi said he was hopeful, nonetheless. “Look back to the financial crisis, and one can see the proof that small business is the engine pulling the train to recovery and will do so again. The only thing small business owners are asking for are policy solutions that make it possible for Main Street to prosper ounce again.” The NFIB surveyed a random sample of the 300,000 members of the group nationwide. A total of 1,172 usable responses were received from the March 30 email survey.
Fully 92 percent of those who responded to the survey said their businesses have been affected by the coronavirus outbreak — up from 76 percent responding to a survey 10 days earlier. Among those who said they’d been affected, 80 percent reported slower sales and 31 percent reported supply chain disruptions. About 72 percent of those who responded to the latest survey said they were “very concerned” about the potential effects of the outbreak on their businesses — up from 16 percent on March 10 Half said their businesses can survive no more than two months if current conditions continue. A third said their businesses could remain operational three to six months. About 13 percent said they could stay in business more than a year. Almost all of those who responded to the survey said they’ve responded to the outbreak, including implementing additional cleaning procedures or flexible work arrangements. About half said they’ve scaled down or adjusted operations. Almost two-thirds said they plan to apply for loans through the Paycheck Protection Program offered through federal relief measures. F
Barbara Reynolds misses interacting with students at Nisley Elementary School in Grand Junction and time spent reading and offering encouragement to them. Reynolds remains grateful she won’t miss the stipend she receives for her work with the Foster Grandparent Program operated in Mesa County by St. Mary’s Medical Center. “It’ll help me buy groceries, medicine and stuff like that.” Reynolds is among 46 participants in the program who’ll continue to receive stipends despite the closure of Mesa County School District 51 schools because of the coronavirus outbreak. Susan Nickels, manager of the Foster Grandparent Program, said she obtained permission from the Corporation for National and Community Service to continue paying participants during the closure. “It was a huge relief.” At $3 an hour, the stipend isn’t large. But most of the participants are people age 55 and older who live at or near poverty levels. That makes the stipend a needed source of additional income, Nickels said. A federal program, the Foster Grandparent Program recruits and trains seniors to work with children in schools. Participants assist students with reading, math and other subjects as well as help those who need additional attention. Some foster grandparents work a few hours a week, others work up to 40 hours a week. Reynolds said she’s worked in the program eight years, most recently dividing her time between Nisley Elementary and the Mini Mavs daycare at Colorado Mesa University. “It’s a wonderful organization,” Reynolds said of the program. And it’s personally rewarding, she said, to help children. “Those kids all seem to need a little more confidence and moral support.” Nickels said foster grandparents miss that connection with schools closed. “They miss being with the kids.” But Nickels and Reynolds said they’re thankful foster grandparents won’t miss the stipends. F
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Small Business Optimism Index posts record fall A measure of optimism among small business owners posted the largest one-month drop in its 46-year history as the coronavirus outbreak affects their outlook for everything from the economy to sales to staffing. “It’s hard to say what the severity of the disruption will be, but we know they’re feeling the urgency,” said William Dunkelberg, chief W. Dunkelberg economist of the National Federation of Independent Business. The NFIB reported its Small Business Optimism Index dropped 8.1 points to 96.4 in March as nine of 10 components of the index fell. The index is based on monthly surveys of members of the small business
advocacy group, most of them small business owners. Dunkelberg said survey results reflect a decrease in stock market indices. A record increase in unemployment claims was reported after the majority of the latest survey responses were received, however. Financial assistance is crucial to helping small businesses survive the outbreak, he said. “It is vital that these businesses have access to federal funds that are made available through the CARES Act to keep the doors open on Main Street.” The proportion of those who responded to the survey upon which the March index was based who expect the economy to improve fell 17 points to a net 5 percent. That’s the biggest decline since November 2012. A net 21 percent of respondents reported plans to make capital improvements, down five points. A net 13 percent said
they consider now a good time to expand, down 13 points. The share of those who expect higher real sales dropped 31 points, the largest monthly decline in survey history. At a net negative 12 percent, more respondents expect lower sales than higher sales. A net 9 percent reported plans to increase staffing, down 12 points. A net 35 percent reported hard-to-fill job openings, down three points. The proportion of those reporting higher earnings fell two points. At a net negative 6 percent, more respondents reported lower than higher earnings. The share of those who plan to increase inventories fell five points to a net negative 3 percent. At a net 2 percent, more respondents reported current inventories too high than too low. F
AAA Colorado offers assistance to first responders and care providers
AAA Colorado offers free emergency roadside assistance for first responders and health care providers traveling to and from their duties anywhere across state during the stay at home order issued as part of the coronavirus outbreak. “Since 1922, AAA Colorado’s mission has been to help Coloradans get to where they need to go safely and with peace of mind,” said Linda Cavanagh, president and chief executive officer. “In extraordinary Linda Cavanagh these times, we’re committed to helping those who are helping Colorado get through this by making sure that they never need to worry about a breakdown.” To request assistance, motorists should call 1-800-AAA-HELP and tell the local rescue center they’re a first responder or health care provider headed to or from work. The center will dispatch a technician who will either repair the vehicle at the site of the breakdown or transport it to a destination of the motorist’s choice within 100 miles if it’s a first call for assistance or seven miles for every call thereafter. The AAA Colorado statewide network of approved auto repair facilities remains open. “So many are giving so much in service to our state right now,” Cavanagh said. “In this small way, we hope to help take care of those who are taking care of all of Colorado. We’re all in this together.” F
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April 9-22, 2020
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Residents urged to nourish themselves and ag industry Colorado residents can support in a variety of ways the farmers and ranchers who continue to put food on their tables in the midst of the coronavirus outbreak, according to Kate Greenberg, Colorado Commissioner of Agriculture. “Thanks to our producers and workers across the state, our local food system is abundant, and our Kate Greenberg supply chains are healthy. This is a moment for us to continue coming together to support Colorado agriculture and buy local food,” Greenberg said. Wendy White, marketing specialist with the Colorado Department of Agriculture, said buying local foods helps an important economic driver.
“Every bite is helping our state,” she said. White suggested some ways for Colorado residents to nourish not only themselves, but also farmers, ranchers and businesses: n Order meals from Colorado chefs and restaurants. Restaurants continue to serve meals for delivery or takeout. Some farm-to-table chefs are recognized for using local ingredients. n Drink Colorado wine, beer and spirits. Liquor stores feature Colorado beer and wine sections. Breweries offers online ordering. Wineries are open for pickup and many ship orders. n Support Colorado livestock producers. Look for Colorado beef, lamb, pork, bison and poultry or order directly from local producers. n Pick Colorado-grown produce. Look for the Colorado
Proud label that identifies a particular piece of fruit or vegetable was grown in the state. Check out what local produce is in season. n Buy direct from a Colorado wholesaler. Many local companies sell food and products directly to consumers. The website at www.ColoradoProud.com offers a list of companies participating under the wholesaler category. n Cook recipes with Colorado-grown ingredients. With people cooking more than ever, why not pick a recipe made with locally grown ingredients? n Send Colorado-made gifts to friends and family. How about a Colorado gift basket for local friends or even out-of-state family that needs a smile and something delicious? Check out this directory of Colorado-made gift companies that ship at the Colorado Proud website. F
Mesa County ranks 10th in Colorado for census response
Mesa County ranks 10th among Colorado counties for the highest proportion of households that have so far responded to the 2020 census. As of April 6, 50.4 percent of Mesa County households had responded to the census. Douglas County leads Colorado counties with a 59.7 percent response rate, followed by Jefferson County at 59.5 percent and Broomfield County at 57 percent. As a state, Colorado ranks 13th with a 48.5 percent response rate. Minnesota ranks first among states with a 54.5 percent response rate, followed by Wisconsin at 52.4 percent and Michigan at 51.8 percent. The national response rate to the census is 45.1 percent. The 2020 census includes a short questionnaire asking about who lives in a household as of April 1. Additional information about the census and who to count is available online at the website at https://2020census.gov. People can respond to the census online at https://my2020census.gov, by telephone at (844) 330-2020 or mail by returning paper questionnaires to the U.S. Census Bureau National Processing Center, 1201 E 10th St., Jeffersonville, IN 47132. Individual responses are confidential and protected by law. Later this year, the U.S. Census Bureau plans to send census takers to visit households that haven’t yet responded to help them complete questionnaires. The current deadline to respond is Aug. 14. Mandated by the U.S. Constitution, the census of the population occurs every 10 years. Results allocate the number of seats each state has in the U.S. House of Representatives. Census data is also used to determine how more than $675 billion in federal funds are distributed back to states and local communities every year for services and infrastructure, including health care, jobs, schools, roads and businesses. F
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Surveys
Continued from page 2 As of April 5, Mesa County Public Health reported 22 positive cases of COVID-19 infections, while 378 negative test results were reported. As of April 3, 4,950 positive cases were reported statewide with 924 people hospitalized and 140 deaths. As the number of positive cases and deaths has grown, a series of measures intended to slow the spread of the outbreak have been implemented. The Colorado Department of Health and Environment closed restaurants, bars, theaters, gyms and casinos. Establishments are allowed to offer food and beverage service, but only through drive-through, drive-up or delivery services. Public and private elementary and secondary schools were ordered closed until at least April 30. In addition, Colorado Gov. Jared Polis issued a statewide stay-at-home order, requiring residents to avoid unnecessary travel or mingling with others outside their households. An email survey conducted by the Grand Junction Area Chamber of Commerce in late March elicited a total a 140 responses from businesses in a variety of sectors, Schwenke said. Those responses reflected a sudden and unprecedented drop in business, she said. While 28 percent reported business income had dropped between 25 percent and 50 percent since the outbreak began, another 22 percent said income had dropped 50 percent or more. Fully 55 percent of respondents said they expect their employees will need financial help. Schwenke said the survey was completed March 23, before some of the measures were implemented. Consequently, she said she expects those proportions to increase when the results of a survey now under way are tabulated. Those who responded to the March survey cited as their top concerns not only lack of revenue, but also uncertainty over how long their businesses will be affected by the outbreak, more closures and how they’ll take care of employees. A few respondents also cited concerns about contracting COVID-19 or their employees becoming infected. More than two-thirds of respondents said their businesses had emergency plans. Respondents also ranked some of the topics about which they’d like to learn more, including access to financing, emergency preparedness, human resource issues and marketing. In response, the Grand Junction, Fruita and Palisade chambers teamed up to schedule a series of free webinars on those topics and others. A webinar on business loan programs offered through federal outbreak relief efforts attracted 120 participants. Additional webinars, which will be offered as Zoom conference calls, are scheduled through May 5. Registration and more information is available on the Grand Junction chamber website. F
April 9-22, 2020
Hand
Continued from page 2 While the programs offer grants as well as forgiveness in repaying some portions of loans, they’re not suitable for every business. And Maraschin is just as straightforward in his advice about taking on unnecessary debt. “If you don’t need the money, don’t borrow it.” Maraschin was among those who offered overviews of available financial assistance in a webinar presented by the chambers of commerce in Grand Junction, Fruita and Palisade. Vance Wagner, Vance Wagner regional president of ANB Bank, also participated, as did Clay Tufly, regional president of Alpine Bank. Two lending programs are available to small businesses enduring the effects Clay Tufly of the coronavirus outbreak, say Maraschin, Wagner and Tufly. The Paycheck Protection Program offers loans of up to 2.5 months of payroll for a business. The program also is available for sole proprietors, independent contractors and self-employed. The Coronavirus Aid, Relief and Economic Security Act set aside $349 billion for the program. Wagner says 75 percent of the proceeds from the loans must be used for payroll, while the remaining 25 percent may be used for such other expenses as rent, utilities or interest on mortgages. Repayment on the portion of the loan used for payrolls will be forgiven if staffing levels as measured by the number of full-time equivalent positions at the time of application remains the same on June 30, Wagner says. Otherwise, that money must be repaid.
West Star Aviation revamps its website
West Star Aviation has revamped its website to offer an updated design, easier navigation and a new careers page. West Star has incorporated a more robust focus on airframe-specific expertise that’s evident in the new design, providing visitors with comprehensive information that’s easily accessible. A new careers page provides details about West Star locations and benefits. West Star Aviation provides maintenance, repair and overhaul services at facilities at the Grand Junction Regional Airport as well as at other airports in Arizona, Colorado, Illinois, Missouri, Tennessee and Texas. For additional information, visit the website at www.weststaraviation.com. F
The Business Times
The U.S. Small Business Administration also offers economic injury disaster loans of up to $2 million. Those loans can be used for payroll as well as accounts payable, fixed debts and other expenses that can’t be paid because of the coronavirus outbreak. Applicants for the disaster loans also may apply for $10,000 grants that don’t require repayment, Maraschin says. Even those that don’t qualify for loans still could receive the grants, he says. There’s no double dipping, though, in using both the Paycheck Protection Program and disaster loans for payroll, he says. In addition, the Mesa County Revolving Loan Fund provides up to $25,000 in loans
for working capital, equipment or inventory for companies responding to the coronavirus outbreak, Maraschin says. Business owners and managers considering applying for a paycheck protection loan, emergency disaster loan or both should work with their banks to do so, Maraschin says. “Go to the banker you know and who knows you.” Assistance also is available from other sources, including coaches with the Small Business Development Center in Grand Junction, he says. All the details of the process haven’t yet been worked out, however, Wagner and Tufly say.
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“This is a very fluid situation,” Wagner says. “There are still a lot of unanswered questions.” There have been regulatory and technical glitches that have slowed loan processing, although the SBA announced as of the morning of April 6, the agency had guaranteed a total of nearly $38 billion in loans to nearly 130,000 applicants at more than 2,400 lenders. Given their likely popularity, there’s a chance the funding allocated for the programs will be exhausted. But Tufly says if that happens, there’s also a good chance additional funding will be allocated. F
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Confidence
Continued from page 2 While physical infrastructure hasn’t been damaged, business infrastructure could be lost as some operations close and never reopen, Wobbekind said. The timing of the recovery will depend not only on when the outbreak ends, but also when people go back to work and regain their confidence to return to public places and travel, he said. That’s especially important for a state like Colorado that depends on tourism. Federal economic stimulus measures enacted in response to the outbreak also will play role, he said. For the second quarter, 86 percent of those who responded to the survey upon which the Leeds Business Confidence Index was based and provided explanations said the coronavirus outbreak affected their expectations. They also cited the economy, upcoming election and low oil prices. For the second quarter, confidence in the Colorado economy fell 22.7 points to 28.8. While 67.6 percent of business leaders expected moderate or strong decreases in the state economy, 24.8 percent anticipated no change and 7.6 percent forecast moderate or strong increases. Confidence in the national economy fell 24.1 points to 21.8, the lowest of the six metrics. While 81.4 percent of leaders forecast a decrease, 13.2 percent expected no change and 5.5 percent anticipated an increase. The reading for profits fell 20.6 points to 31.5 with 65.5 percent of leaders anticipating decreases, 21.5 percent no change and 13 percent increases. The reading for sales fell 21.2 points to 32.9 with 65.4 percent of leaders expecting decreases, 17 percent no change and 17.5 percent increases. The readings for hiring and capital expenditures also dropped, but not to record lows. The reading for hiring fell 18.2 points to 32.4 with 57.3 percent of leaders forecasting layoffs, 30 percent expecting no staffing changes and 12.7 percent anticipating additions. The reading for capital expenditures dropped 19.6 points to 31 with 58.2 percent of owners expecting decreases, 31.7 percent anticipating no change and 10.2 percent forecasting increases. Looking ahead to the third quarter, overall index expectations were higher at 38.2. While that reading remains well below growth-neutral 50, it’s higher than the second quarter, Lewandowski said. In the meantime, other economic indicators — including those for labor and gross domestic product — likely will get worse before they get better, he said. By some projections, the unemployment rate could rise to double digits as gross domestic product drops 40 percent. Wobbekind said he’s especially worried about the effects of the coronavirus outbreak on small businesses as well as state and local government entities dependent on sales tax revenues. F
News Trends Jobless rate steady for now Contributors Opinion Business Briefs Business People Almanac The Business Times
April 9-22, 2020
pAge 15
INDICATORS AT A GLANCE
n Business filings
t New business filings in Colorado, 28,371 in the fourth quarter, down 0.4% from the fourth quarter of 2018.
n Confidence
t Consumer Confidence Index 120 in March, down 12.6. t Leeds Business Confidence Index for Colorado, 29.7 for the second quarter, down 21.1. t National Federation of Independent Business Small Business Optimism Index 96.4 for March, down 8.1.
n Foreclosures
t Foreclosure filings in Mesa County, 16 in March, down 38.5% from March 2019.
t Foreclosure sales in Mesa County, 4 in March, down 60% from March 2019.
n Indexes
t Conference Board Employment Trends Index, 60.39 for March, down 48.88. s Conference Board Leading Economic Index 112.1 for February, up 0.1% t Institute for Supply Management Purchasing Managers Index for the manufacturing sector, 49.1% for March, down 1%.
n Lodging
t Lodging tax collections in Grand Junction, $69,467 for February, down 0.9% from February 2019.
n Real estate
n Real estate transactions in Mesa County, 449 in March, unchanged from March 2019. t Dollar volume of real estate transactions in Mesa County, $122 million in March, down 10.3% from March 2019.
n Sales
t Sales and use tax collections in Grand Junction, $4.1 million for February, down 1% from February 2019. s Sales and use tax collections in Mesa County, $2.8 million for February, up 4% from February 2019.
n Unemployment n Colorado — 2.5% for February, unchanged. n Mesa County — 4.1% for February, unchanged. s United States — 4.4% for March, up 0.9.
But increases expected in Mesa County as a result of coronavirus Phil Castle
Since then, though, there have been layoffs and furloughs in the hospitality and retail sectors in the aftermath of the Feb. Jan. The monthly unemployment rate held coronavirus outbreak and government s Delta County 4.2 4.1 steady in Mesa County during February, but restrictions on business operations and s Garfield County 3.3 3.2 likely will increase in coming months as a personal movement, Englehart said. n Mesa County 4.1 4.1 result of the coronavirus outbreak. Statewide, nearly 62,000 initial claims for s Montrose County 3.6 3.4 “The next four unemployment benefits were filed for the n Rio Blanco County 3.7 3.7 months are really going week ending March 28. to be critical in telling The workforce center has physically us the outcome of the coronavirus outbreak for closed, but continues to provide services, he said. Employees Mesa County,” said Curtis Englehart, director and employers can call 248-7560 to schedule interviews with of the Mesa County Workforce Center in employment specialists and case managements. Additional Grand Junction. information also is available online at www.mcwfc.us. Englehart said he expects jobless rates People should file claims for unemployment benefits through to rise in March and April. He said he hopes the website at www.colorado.gov/cdle. People whose last name Curtis Englehart rates retreat in May and June as the economy begins with letters A through M can file claims on Sunday, quickly recovers. Tuesday, Thursday or after noon on Saturday. Those who’s last More will be known when the Colorado Department of Labor name begins with the letters N through Z, should file claims on and Employment releases its March labor estimates on April 17. Monday, Wednesday, Friday or before noon on Saturday. But for now, the workforce center continues to offer services to Englehart said efforts are under way to shortening the time in employees and employers affected by the outbreak, he said. which claimants receive their first unemployment checks — from For February, the seasonally unadjusted unemployment rate four to six weeks to seven to 10 days. remained unchanged at 4.1 percent, according to the latest estimates Seasonally unadjusted unemployment rates edged up in from the CDLE. That rate remains below the 4.4 percent posted at neighboring Western Colorado counties in February — up a tenth this time last year. of a point to 4.2 percent in Delta County and 3.3 percent in Garfield For February 2020, Mesa County payrolls increased 1,143 County and two tenths of a point to 3.6 percent in Montrose County. to 73,437. But the number of people counted among those The jobless rate held steady at 3.7 percent in Rio Blanco County. unsuccessfully looking for work also increased — 80 to 3,166. The statewide seasonally adjusted unemployment rate held The labor force, which includes the employed and unemployed, steady for a third straight month at 2.5 percent, the lowest level increased 1,223 to 76,603. in Colorado for statistics going back to 1976. Nonfarm payrolls Over the past year, payrolls increased 419 while the ranks increased 3,100. of the unemployed decreased 174. The labor force edged up 245. Over the past year, the state jobless rate dropped six-tenths Labor demand as measured by the number of job openings of a point as nonfarm payrolls swelled 50,1000. The biggest gains posted at the workforce center increased in February, Englehart occurred in the professional and business services; education and said. The 2,016 openings were more than double those for the health services; and trade, transportation and utilities sectors. same month last year. The average workweek for employees on private, nonfarm Meanwhile 152 initial claims for unemployment benefits payrolls increased six-tenths of an hour to 33.7 hours. Average were filed in Mesa County in February, up from 125 for the same hourly earnings increased $1 to $30.95. month last year, he said. F The Business Times
AREA JOBLESS RATES
U.S. payrolls contract estimated 701,000 in March Nonfarm payrolls contracted 701,000 in the United States in March as the coronavirus outbreak affected restaurants, retailers and other businesses. The unemployment rate rose to 4.4 percent, a nine-tenths of a point increase that tied for the largest one-month gain since 1975. While the latest Labor Department estimates accounted for some of the effects of the outbreak, they predated additional closures and stay-at-home orders that occurred in the second half of March. That means the estimates could constitute a statistical snapshot of an increasingly grim picture. A record 6.6 million workers filed for their first week of unemployment benefits in the week ending March 28. For the March labor report, the number of people counted among those unsuccessfully looking for work for less than five weeks rose 2 million to 3.5 million. The number of those out of work for 27 weeks or longer was little changed at 1.2 million. Another 5.8 million people were counted among those working part-time because their hours had been cut or they were unable to find full-time jobs. Layoffs were spread out among industry sectors, although the leisure and hospitality sector was hit hardest with a 459,000 decrease in employment. Employment decreased 61,000 in health care and social assistance, 52,000 in business and professional services, 46,000 in
Employment index tumbles
An index tracking labor conditions has tumbled on rising claims for unemployment benefits. The Conference Board Employment Trends Index dropped nearly 49 points to 60.39 for March. The index has retreated 45 percent from a year ago. Gad Levanon, head of the Conference Board Labor Markets Institute, said the drop in employment during the coronavirus outbreak could be severe, but also short-lived. F retail trades, 29,000 in construction and 18,000 in manufacturing. The payroll drop for March follows gains in January and February. The initial estimate for gains in January were revised downward 59,000 to 214,000. The estimate for February was revised upward 2,000 to 275,000. For March, the average workweek for employees on private, nonfarm payrolls fell two-tenths of an hour to 34.2 hours. The average manufacturing work week shortened three-tenths of an hour to 40.4 hours. Average hourly wages rose 10 cents to $24.07. F
Page 16
The Business Times
aPril 9-22, 2020
Consumer confidence drops on coronavirus concerns A monthly measure of consumer confidence has dropped on less upbeat expectations for business and labor conditions in the midst of the coronavirus outbreak. The intensity of the outbreak and volatility in financial markets has made business and labor prospects uncertain, said Lynn Franco, senior director of economic indicators for the Lynn Franco Conference Board. “March’s decline in confidence is more in line with a severe contraction — rather than a temporary shock — and further declines are sure to follow.” The business research and membership group reported its Consumer Confidence Index fell 12.6 points to 120.
The index is based on the results of monthly household surveys. Economists monitor the index because consumer spending accounts for more than two-thirds of economic activity. Less upbeat assessments of current business and labor conditions pulled down the present situation component of the index 1.6 points to 167.7. The proportion of consumers who responded to the survey upon which the latest index was based who described business conditions as “good” held steady at 39.6 percent. But the share of those who said conditions were “bad” increased six-tenths of a point to 11.4 percent. The proportion of those who said jobs are “plentiful” fell 1.6 points to 44.9 percent. The share of those who said jobs are “hard to get” remained unchanged at 13.9 percent. The short-term outlook was even less optimistic,
pushing down the expectations component of the index 19.9 points to 88.2. The share of consumers who said they expect business conditions to improve over the next six months fell 2.4 points to 18.2 percent. The proportion of those who said they anticipated worsening conditions more than doubled to 14.9 percent. The share of consumers who said they expect more jobs to become available in coming months fell 1.1 points to 15.5 percent. The proportion of those who expect fewer jobs rose 5.1 points to 17.1. percent. While 20.7 percent of consumers said they expect their incomes to increase, down two points, the share of those who anticipated decreasing incomes rose more — 2.7 points to 8.8 percent. F
Trends Contributors Opinion Stronger together Business Briefs Business People Almanac
April 9-22, 2020
The Business Times
pAge 17
COMING ATTRACTIONS
n Registration remains open for an upcoming employment law conference. The Western Colorado Human Resource Association will join with the Bechtel, Santo & Severn law firm in Grand Junction to present the virtual conference on Zoom from 8 a.m. to 2 p.m. April 29. Admission is $100 for members of the WCHRA and other Society for Human Resource Management chapters and $150 for others. Discounts on combined WCHRA membership and conference admission are available. Discounted admission also is available for Colorado Mesa University faculty and students. To register or obtain more information, visit www.wchra.org/events. The conference will offer information to human resource professionals as well as business owners and managers about issues related to the coronavirus outbreak and regulatory and legislative changes. A presentation will cover the coronavirus outbreak and interactions between laws and regulations dealing with the outbreak. Another presentation will cover the new Colorado Overtime and Minimum Pay Standards Order and changes to the way private employers compensate employees. The update will address these changes, including rest breaks, meal periods, uniforms, tips and who qualifies for overtime exemptions. An update will address the Colorado Equal for Equal Work Pay Act scheduled for implementation beginning Jan. 1. A session will enable participants to ask a panel of lawyers their most pressing questions.
Businesses play essential role in slowing spread of coronavirus Mesa County Public Health usually offers in its monthly columns resources and tips to promote health in the workplace. Instead of providing more suggestions, I’d like to offer my thanks for what’s already been done. In a mere month, life as we know it has been disrupted — all in the name of public health. Businesses across sectors are changing plans, adjusting operations and restructuring their work forces to prevent the spread of disease in our community. One of the great things about living in Mesa County is our thriving business community. No one has been affected more by these changes than small Jeff Kuhr businesses. Some businesses have made the ultimate sacrifice in temporarily shuttering public operations. I’d be amiss to not recognize the effect this has had on owners and their employees. Such essential services as emergency care, health care and grocery stores have employees who are working long hours on the front lines. By nature, this work poses increased risks for exposure, so I appreciate the steps employers take to keep employees safe while providing the services upon which residents depend. I also appreciate those employees who put in extra time and deal with unpredictable schedules as part of this effort. Other employees work remotely, telecommuting for the first time. This has placed additional demands on our technological capabilities and changed how we interact with colleagues and clients. As we work together to protect our physical health, I encourage you to look out for your mental health as well. Social isolation is difficult, especially combined with the stressors of running a business. Take time to virtually connect with friends
In a mere month, life as we know it has been disrupted — all in the name of public health. Businesses across sectors are changing plans, adjusting operations and restructuring their work forces to prevent the spread of disease in our community.
and family, get some fresh air and establish some new routines. If it all feels like it’s too much, the Colorado Crisis Line offers, free confidential, professional, around-the-clock support. Call (844) 493-8255 or text “TALK” to 38255. If you have questions or are looking for guidance about the coronavirus and COVID-19, visit our website located at https://health.mesacounty.us/covid19/. If you’re in search of community resources to assist you or your employees, call 211 for a connection to a statewide database that can assist you with finding food, housing, child care, health services, crisis counseling and financial support. COVID-19 has changed the face of public interactions and service delivery. I’d like to thank each and every one of you for the tough decisions you make to flatten the curve. I know we’ll get through this difficult time together and come out stronger as a community. Jeff Kuhr is executive director of Mesa County Public Health. Connect with the department on Facebook at www.facebook.com/MesaCountyPublicHealth or on Twitter at @MC_PublicHealth. F
Free webinars offer businesses assistance in the time of coronavirus The Grand Junction Area Chamber of Commerce has joined with the Fruita and Palisade chambers of commerce to offer a series of free webinars intended to help businesses get through the coronavirus outbreak. To register for or receive more information about the webinars, which will be offered as Zoom conference calls, visit www.gjchamber.org. Here’s what’s planned:
n Mental health as a business owner or operator — 2 p.m. April 9. n Creating financial forecasts for loan and grant applications — 10 a.m. April 14. n Calling all young professionals. It’s time to be engaged — 2 p.m. April 16. n Leading the city through crisis — 10 a.m. April 21. n Coronavirus and your small business, a live
question-and-answer session — 2 p.m. April 23. n Behaviors that put entrepreneurs at risk — 10 a.m. April 28. n Marketing advice to combat an economic downturn — 2 p.m. April 30. n How volunteering can help small businesses grow in your community —10 a.m. May 5. F
Page 18
The Business Times
aPril 9-22, 2020
Are you ready to step in, step up and lead by example? We face difficult times. The coronavirus outbreak has created uncertainty for business owners as well as team members and the customers and communities they serve. Team members on the front lines of essential services work long hours under the constant threat of infection. Customers face shortages of goods and services. Other team members have been laid off, putting the safety and security of their families in jeopardy. Communities have shut down. Social distancing has necessarily, but severely, limited our interactions. People are stressed on many fronts, Marcus and it’s beginning to show. How will we get through this? Straub Together. And the journey will be made more bearable through the genuine support of one another as we forge ahead. Now is not the time for partisan politics, rich against poor or any of the other usual divisive attitudes and actions that limit us as a people and country. We have an opportunity to come together in the face of a shared foe and lift each other up so together we can get to the other side wiser, stronger and more unified than ever. We have a chance to be better than we were. Leaders in the business community play a significant role in how well we’ll navigate our reality. The best leaders provide composure, encouragement, strength and support in challenging times. People look to them for guidance and use their examples of perseverance to fuel their own resiliency. These leaders arise from every aspect of the business, from the person who owns the company to the people who clean up after the day and restock the shelves. Leaders also arise from the community. People help those in need with gift cards for food. They bring groceries
How will we get through this? Together. We have an opportunity to come together in the face of a shared foe and lift each other up so together we can get to the other side wiser, stronger and more unified than ever. We have a chance to be better than we were. and other supplies to those who can’t and shouldn’t go out. Retired medical professionals travel from across the country to hot spots to lend their time and expertise as others among them fall ill themselves. This is leadership by example, and it’s there for all of us to see and emulate as best we can. We have an opportunity to provide examples of caring, courage, strength and support that inspire others. By putting ourselves in the shoes of business owners, cashiers, plumbers, restaurant workers, trash collectors and so many others who enable us to continue with our own businesses and lives, we gain a clearer picture of reality. Once we look beyond our little worlds, we can see the bigger picture and where our genuine appreciation, help and praise make a difference. When people receive genuine praise and recognition, they feel good, valued and inspired to keep up the effort. They light up and feel better. This is widely apparent in their body language. They’re motivated to hang in there and keep going. Every person who’s going to work, braving the risks and facing the challenges so the rest of us can keep working
and living needs encouragement and support from us so they have the human fuel they need to remain resilient for the weeks to come. As I run my necessary errands for supplies and other goods, I always tell whoever helps me, “Thank you for being here. I appreciate you.” They instantly light up and enjoy a little relief from the hardships they face on a daily basis. The desire to feel good about ourselves and the efforts we put forth constitutes a very real human need. As a leader, no matter what walk of life you come from, it’s wise to get a firm grasp of this understanding and change your perspective and behavior so you consistently offer the praise, recognition and support we need to get through the coronavirus outbreak. The golden rule many of us learn as children is often forgotten as adults: “Do unto others as you would have done unto you.” In other words, treat others the way you want to be treated. By simply adhering to this simple, yet profound, principle we will be there for each other in real and meaningful ways as we step in, step up and lead by example. Marcus Straub owns Life is Great Coaching in Grand Junction. His personalized coaching and consulting services help individuals, business owners, executives and companies build teams, organizations and lives filled with happiness and success. Straub is winner of the International Coach of the Year Award and author of “Is It Fun Being You?” He’s available for free consultations regarding coaching, speaking and trainings. Reach Straub at 208-3150, marcus@lifeisgreatcoaching.com or through the website located at www.lifeisgreatcoaching.com. F
April 9-22, 2020
The Business Times
pAge 19
To get the write stuff, ask for the right services
You’ve finished writing that proposal, After a proofreader has gone through your EDITORS, REVIEWERS AND PROOFREADERS report, manual or other document. Now document, it should be the same length you want to make sure it’s clear, correct, and word count. Proofreading is the final Editor Reviewer Proofreader readable and audience-focused. So do you step in the document sanity checking and n Create one “voice” n Check facts. n Verify grammar need the services of an editor, reviewer or review process. — standardize terms, n Ensure all and punctuation. proofreader — or some combination of all Here are some steps to build into a words and acronyms. information is there. n Check spelling. three? checklist for your editors, reviewers and n Remove redundancies. n Add information n Verify and fix You get what you proofreaders — and, most importantly, n Shorten document length. as needed. formatting. ask for, so make sure writers. n Verify compliance with n Keep audience to ask for the right n Format instruction, including font guidelines and style guides. in mind. services. Develop a type and size, spacing, margins, colors, n Ensure document focuses checklist of what you heading structure and numbering. on the audience. want edited, reviewed n The general style guide to use — and proofed and then the Associated Press Stylebook, Chicago Reviewing occurs between the two editing cycles. Manual of Style, American Psychological Association consider the normal support provided It’s tempting to omit the first editing cycle and go straight style or other. by each service. Editing should take place at to the review cycle. But completing an initial edit that’s n Corporate style sheet. least twice — once after you write audience-centric rather than reviewer- or writer-centric n Such general “problem” areas as creating acronyms Janet the initial draft and again after the saves time. properly, words you have trouble spelling or using correctly Arrowood reviewers have had their say. Reviewers tend to add rather than delete. So the and overall style considerations. Editing is a reduction, organizing, document grows rather than shrinks. Too often, redundant n Customer-imposed requirements. sanity checking and cross-checking process. An edited or repetitive material gets added in the review cycle A final note: For those of you who are editors, indexers, document is almost always shorter than the original because reviewers read in a serial fashion. If they read reference/citation checkers or proofreaders, I’m trying to document and certainly shorter than what comes back something and a thought occurs to them about something start a chapter of the Editorial Freelance Association in from reviewers. A good editor can often reduce the length that should be there, they add it right then. If the same Western Colorado. Contact me if this organization might of a document by 20 percent to 40 percent following the information shows up later in the document, the reviewer be of interest or value to you. To learn more, log on to the review cycle, yet authors and reviewers rarely notice doesn’t delete it from one or the other place. Now you website at https://www.the-efa.org/chapters/colorado/ have repetition and a growing document. anything missing other than length. It never hurts to ask your editors and reviewers to put Janet Arrowood is founder and managing director of the Editors adhere closely to author- and reviewerprovided guidelines with an emphasis on what the end themselves in the place of the audience. Remember, the Write Source, a Grand Junction-based firm that offers a user — the audience — wants, needs and expects. If a document is for the audience — not the writer, editor or range of services, including grant and proposal writing, instruction and technical writing. Reach her by email document is a proposal, for example, an editor goes back reviewer. Proofreading is the final step before releasing a at janet.arrowood@thewritesourceinc.com. For more to the source documents — the solicitation in this case — to ensure the document contents reflect the requirements document. Proofreaders neither add nor delete. They information, visit www.TheWriteSourceInc.com. just look for typos, misspellings and grammatical issues. F of the originating document.
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THE he BUSINESS usiness T T Times IMES
PJANUARY age 20 15-28, 2015
aPril 9-22, 2020 PAGE 15
Commercial realGrand estate not Junction’s Largest Localimmune Payroll Provider “Excellence in Service is our First Concern!” to effects of theTimecoronavirus outbreak is money. Let us help you save some of both.
Retail and personal service businesses likely will be two areas of commercial real estate most affected by the coronavirus Nobody wants to see individuals and outbreak. businesses suffer. Given what could While many retailers maintain an online beFiling coming, there are opportunities to presence, most smaller retail businesses still Tax Payroll Quarterly & Year End depend on customer visits. This includes not minimize trouble for those who can act Tax Reporting Multi-State Payroll only retail stores and restaurants, but also Direct Deposit & “Pay Cards” such Time Keeping Systems quickly. service businesses as accounting Thispersonal season, Online HR Support Web-based Time Clocks firms, barbershops, financial advisor firms, Handbook Development Web-based Payroll savepettime, grooming operations and salons. Workers’ For would consider debt relief deferment New or Hire Reporting on commercial mortgages Compensation many owners of these businesses, working for individuals experiencing cash flow issues. Contact your lender energy and Retirement Plans Mobile Scheduling to discuss your personal situation. For future commercial loans, from home isn’t a realistic option. your back with If people are afraid or unable to visit local refinancing could become less available or more costly because businesses or snow removal if a business faces mandatory of increased prepayment penalties and more stringent financial Theresa closure, reduced revenues could result. In covenants. Englbrecht services from addition, retailers face increasing challenges Nobody wants to see individuals and businesses suffer. Given in retaining employees either because of what could be coming, there are opportunities to minimize trouble The Landscape quarantines or some workers with children whose schools have for those who can act quickly. If it’s possible to refinance, extend been closed. At the same time, retailers must reassure their lines of credit or renew lines of credit, now could be the time to do Center. customers by incurring the extra costs of intense cleaning. so before lenders tighten standards even further. Depending on how long this situation lasts, retailers and other For those with the available funds or lines of credit, there business owners who lack extra cash or lines of credit to operate likely will be opportunities in residential and commercial real during an extended downturn could be unable to pay rent. While a estate. short-term slowdown might be workable, a situation that extends These are trying times for everyone. The ability to foresee six weeks or longer could result in some leases going into default. risks and opportunities will prove invaluable. www.autopaychecks.com Wherever possible, landlords and property managers should keep In the meantime, though, keep in mind the most important open the lines of communication with their tenants. Ask tenants thing is toAvenue make sure you under take all possible efforts to protect 441 Colorado if they’re experiencing cash flow issues that affect their ability to the health of your family, employees and customers. Grand Junction, CO 81501 pay rent. Work on possible solutions if you can, knowing a good tenant is a valuable asset that could be difficult to replace given Theresa Englbrecht is a commercial real estate broker at current market conditions. Bray Commercial in Grand Junction. For more information, Some landlords could soon find themselves in a cash crunch call 241-2909 or visit www.braycommercial.com. possibly leading to mortgage defaults. It might be possible lenders F
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April 9-22, 2020
The Business Times
pAge 21
Sick of staying home? Cleaning products could be cause We’ve become understandably hypersensitive to cleanliness, germs and viruses. We’re told to wash our hands, keep our distance and stay home to slow the spread of the coronavirus that’s turned the world upside down. We’ve raided stores to stock up on paper products, cleaning supplies and hand sanitizer. However, the overuse of many products can cause problems and have the potential to undo the very thing we’re trying to do in staying safe and healthy. Have you ever noticed the labels of cleaning products don’t list the ingredients? In the United States and Canada, companies that make Patti Reece household cleaners aren’t required by law to list ingredients on packaging. That means you have no idea what you’re exposing yourself and your family to when you mop your floors or clean the oven. It’s frightening and potentially downright dangerous. I couldn’t believe it when I read children miss a cumulative 14 million school days a year because of asthma. They now believe this could be linked to poor indoor air quality caused in part by chemical cleaners. A study conducted at the University of Bergen in Norway found regular use of cleaning sprays can have the same effects as smoking a pack of cigarettes a day. In Europe, counties impose a reverse burden of proof. Manufacturers have to show chemicals are safe before they introduce them. But in the U.S. and Canada, chemicals are innocent until proven guilty. It begs the question: Why do so many brands use potentially harmful ingredients? The answer is simple: It’s cheaper and more profitable. Ingredients in your cleaning products could hurt your
Take stock of what you’re spraying around your home and putting on your body. There are lots of great products that can enhance your health rather than compromise it.
family and our environment. Some laundry detergents can induce asthma, yet manufacturers are still allowed to sell them. Cleaning your bathtub could expose you to cancercausing substances. Even your dish soap could hurt fish and other aquatic life near your home. Many doctors and treatment centers tell patients to rid their homes of conventional cleaning products if they’ve been diagnosed with cancer. Here are just three of the killer chemicals you might not find on labels: n Sodium hydroxide. This is found in dishwashing liquids, laundry products, oven cleaner, scouring cleansers and tub and tile cleaners. Inhalation can irritate the respiratory tract. Contact can cause severe damage to the eyes, skin, mouth and throat and also could cause liver and kidney damage. n Hydrochloric acid. This is found in odor eliminators and toilet bowl cleaners. This can cause severe damage to the skin. It can be harmful if inhaled and fatal if swallowed. n Butyl cellosolve. This is found in cleaning wipes, degreasers, floor polish, rug shampoos, toilet bowl cleaners, tub and tile cleaners and window cleaners. This can cause irritation and tissue damage from inhalation. In my experience, green cleaners not only work better, but they’re also less expensive. Green products use plant-based, rather than petroleum-
based ingredients. They contain no phosphates, phthalates or ingredients that could be harmful to your health or the environment. They’re biodegradable in less than 28 days. But are they as effective? Yes. Many cleaning products that are nontoxic work better than conventional brands and are also more economical because many of them are concentrated. And because there’s less packaging, they’re better for the environment. Some soaps and hand sanitizers can be harmful with overuse as well. Most hand sanitizers contain alcohol, which can dry out the hands and cause cracking. That leaves hands susceptible to germs and viruses that enter the blood system. Many soaps contain lye that can leave the pH of your hands out of balance and dry and cracked. Use instead a mild hand washing liquid with such ingredients as algae extract, aloe, linden flower, oatmeal, vitamin E and wheat germ oil to moisturize and condition. Some other ingredients to look for are tilia cordata to soothe and rosemary and arnica extracts to energize. Take stock of what you’re spraying around your home and putting on your body. There are lots of great products that can enhance your health rather than compromise it. Take steps to eliminate the chemical load in your homes. Turn off the news and turn on some music. Get outdoors and breathe some fresh air. This, too, shall pass. In the meantime, stay healthy. Patti Reece owns Shaklee For the Health of It in Grand Junction She’s used an educational-based approach to help thousands of people create healthier lives both physically and financially. She specializes in online business training. She’s available for free consultations. Reach her at 260-4839, patti@pattireece.com or www.PattiReece.com. F
Wednesday, April 29 / 8 a.m. - 2 p.m. Virtual Zoom Conference
Contributors Opinion Bold predictions for 2015 Unless people return to work, Is timeyear to consider A it new affords more Business Briefs like not-so-bold repeats coronavirus pandemic wins entrepreneurial path? a new opportunity Business People Almanac to meet local needs THE he BUSINESS usiness T T Times IMES
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The coronavirus and largely necessary responses to the outbreak have fostered fear and uncertainty. Health risks, worrying about loved ones, lost jobs, small businesses struggling to hang on and wondering how bills will be paid have become harsh realities for millions of Americans. But forbrings those who can look beyond the crisis, A new year almost always an opportunity for a fresh startbeing and at home could offer the right time to think seriously renewed ambition tostuck do things better. whether not entrepreneurship is for you. Meanwhile, In business, thatabout usually boils or down to providing customers better products business owners new approaches keep their doors and services faster and at lower cost who thantry competitors. Part oftothe process must open couldto find new and what unfilled in theneed marketplace. include listening to customers determine theyneeds actually and then from home frees up time would otherwiseif be meeting that need. After Working all, it does little good to offer thethat latest and greatest lost to commuting and less-than-productive meetings. Working nobody actually wants what you’re selling. from home generates flexibility. Just like the businesses thatalso belong to the added group,schedule the Grand Junction Area If you’ve ever aboutyear starting own business, Chamber of Commerce invariably startsdreamed out the new withyour a reassessment of perhapsit time at home flexibility bemembers used to the services and resources provides and and howadded well they matchcan with evaluatingofthe entrepreneurship. needs. Jeff Franklin,seriously the new chairman thepotential chamberofboard of directors, Here are Raymond a few in points to consider: personifies this approach describing what he considers his role for the coming n Do you enjoy the independence thatthose comes withIt’s a Keating year: listen to members, determine their needs and then meet needs. working from home? If youpresident do and truly haveof theColorado. discipline to role with which Franklin is familiar as market of Bank things a big plus for becoming an entrepreneur. The process willget take on adone, morethat’s structured approach in what the chamber are you passionate about and that Listening be turned into a business? Willthe plansnasWhat the resumption of a program aptlycan called to Business. Under that passion aid youowners in owning and operating a business? program, business participate in in-depth interviews to identify barriers to n Are Running a business requires a creativity, not just growth and you othercreative? problems they encounter. in terms theyear goods or services you to offer, operating, The of new offers a good time joinbut thealso proverbial club.financing and marketing business. As an your advertiser or reader, what do you need from the Business Times? n Are business you bored? Entrepreneurs are go-getters opportunity seekers. While journals traditionally gather andand report the relevant news One to of my entrepreneurship the boredom check. If you’re working from true homeas readers, communication tests isn’t is necessarily a one-way street. That’s especially and are bored, I’d think twice entrepreneurship. Thethan entrepreneurial mindset Web sites and e-mail make theabout dialogue more convenient ever. would use additional time andexist flexibility in someThey positive fashion, whether Good publications don’t in a vacuum. respond to the needsthat’s of enjoying more withThey family, working toward goals, improving skills, getting advertisers andtime readers. provide what’s needed. organized or planning potential entrepreneurial endeavors. So what do you need? n there Finally, how are news you reacting to that this would time ofhelp enormous uncertainty? Is additional coverage keep you informed about That tell you something about your tolerance for uncertainty and risk. Starting local will business developments? Are there features that would be interesting or auseful? business is an undertaking jam packed risks. How well Is there advice that would make with youruncertainty jobs a littleand easier? you handle the crisis will provide someyou clues as toneed. how With to youlimited might time handle It’s equally important to ask what don’t to the inevitable challenges you’ll face as an entrepreneur. produce content and limited space in which to publish it, would time and space be points will betterHopefully, devoted tothese something else?serve up some food for thought about your entrepreneurial path. Thisisn’t? crisisWhat’s will end and then opportunities will increase, What’s good? What needed? What isn’t? perhaps be the right time to consider whether or not your Let exponentially. us know. SendThis us ancould e-mail. Comment online on the Business Times Web future feature entrepreneurship.You could even write an old-fashioned letter to site at will www.thebusinesstimes.com. But keep it alllike. in perspective, and make yourand priorities areisaligned the editor if you’d Your feedback, both sure positive negative, valued and properly. Most important in these rough times, stay safe and healthy. The same goes will be carefully considered. for your family and friends. Good publications are the result of not only the efforts of their staffs, but also collaborative efforts involving advertisers and readers. Raymond Keating chiefbusiness, economist the Small Business & Entrepreneurship Like any otherisgood weofwant to listen to our customers, find out Council. nonpartisan, nonprofit advocacy, education and research what theyThe need and then meet those needs. organization protect It’s a newworks year. to Please helpsmall us tobusiness do so. and promote entrepreneurship. Reach Keating through the website at https://sbecouncil.org. ✦ F
THE BUSINESS TIMES
609 North Ave., Suite 2, Grand Junction, CO 81501 TEL (970) 424-5133 • FAX (970) 424-5134
Publisher/Owner: Craig R. Hall
Editor: Phil Castle
Reach advertising at: publisher@thebusinesstimes.com Reach the editor at: phil@thebusinesstimes.com.
Subscribe or submit press releases online at www.thebusinesstimes.com The Grand Valley Business Times, a subsidiary of Hall Media Group LLC, is published twice monthly and distributed throughout Grand Junction, Fruita and Palisade. Advertising rates and deadlines are available upon request. Opinions expressed in this publication are those of the writers and do not necessarily reflect the views of the publisher, editor, staff or advertisers. Copyright © 2015 — AllCopyright rights reserved. © 2020 — All rights reserved.
It’s that timebut of that’s year when Sorry folks, the only model resolutions prognostications abound. I’m going toand reference going forward. My favorite saying applied Newthe Year’s Because to our economy, it’storeally resolutions inmatters. saying they’re basically only model is that The hard truth is a bunch of promises to breakare, theonce firstagain, week this country and its leaders of January.the And while I won’t predict a following wrong models. whole lot,a lot I can I do of pretty much accurately nail a few things that without question research online, will makeI click the news. You will see these are meaning on a lot pretty, well, of stories thatpredictable: interest Prediction me. I■don’t dismissone: There will beonsome stories based the sort of weather event, website of origination natural disaster because that kindorof heinous occurrence bias prevents one from where someone will in learning. What I find be interviewed and say these stories — despite Craig Hall thepeople following: of on the“I’ve left never seen anything asking me constantly like that my read the link I sent you?” “Did youineven lifetime.” It’sand as references if this — are links to other stories. Craig Hall personlead is a to required Those even more links and facts and attendee at every news I glean conclusions. information from which reporting understand So, yeah, Ievent. spendWhile a lot ofI time online most people’s that’s perspective can indeed be limited because how I learn. by, orBut contained their own personal with thiswithin, coronavirus outbreak, experiences, toomost much to ask toplace online might it beisthe dangerous consult perspective before for one’ssome mind.historical Mainly because what’s saying now suchisn’t a thing? Yes, about this response online so much accuratecan apply to some events.toBut when comes and new information learn. It’sitbasically weathermess and natural disasters, atojumbled of opinions aboutI’m howpretty sure this iselse simply history repeating everyone should be living. And itself. Same as it or hasmore for millions millions 99 percent of what’sand online aboutof years. Morecan important, made it! COVID-19 be tracedthe to planet one factoid: What didn’t certain How’s A model thatwere predicted 2.2species. MILLION that for perspective? Americans will die. That’s the very ■ Prediction it comes to a definition of GIGOtwo: — When garbage in, garbage crime that occursOur between out —or assomething it relates pandemics. leaders humans,have the known other required should better. attendee at all newsHere’s reporting is the person who whatevents I’ve learned over the past says this: “Theyofwe’re just the nicest several months our government-extended people, and in no way did I see something pandemic. like this Exactly. one does Firstcoming.” and foremost, viralNo outbreaks take on most of the time whenregardless it comes to the same characteristics of whether neighbors andnovel. acquaintances. should or not they’re It’s actuallyPeople a very simple be surprised what goes onAfrom to set of steps. Aat virus originates. virustime infects. timeinfections in their neighborhoods, townsorand The peak within a month so, like people know people are awith hockey stickthey graph. Thebecause virus levels out and good.away Anddue for to theherd times that they goes immunity andshouldn’t lack of be shocked with politicians, repeat hosts. This is— truelike of all viruses in history, and offenders and terrorists — where’s thethe we have models created from data after interview that “This pandemics fromsays, the past 30 doesn’t years in surprise which to me in athe least.” create model for COVID-19. ■ Prediction Something good But we didn’t.three: Instead, we took the word will happen andsaid the500,000 of a guy overeconomically, in England who government will take credit for country it. The most people were going to die in that only recent example is gas prices, to reduce his “modeling” by a where factor ofpeople 50 ask me why I won’t for just a few short weekscredit later.the Hispresident excuse? He low gas prices. My answer is simple: didn’t take into account “mitigating factors.” Government never makes theThings price like, of but What are mitigating factors? something down distancing, and simplynew takesdrugs, credit not limited go to, social for good news. Gas pricing subjectand to the anecdotal observations from is research many global factors. there of areour health courage and power ofNow the minds government addressing care workersanswers who are to willing to go tosome war of thematovirus keepand prices stable for Americans, with defeat it. Then again, he also but ourtake government hasany none in didn’t into account of of thethem histories place. Thepandemics only things has dire in place in the of recent thatit had predictions
aPril15-28, 9-22, 2015 2020 JANUARY
longcame run always hurt consumers. that nowhere near becomingAnother true. fact is that unemployment a certain My thought: This guy reaches shouldn’t be level based theglue economy. And while the allowed nearonthe required to build brag the number agovernment model of a might 1964 Mustang, let aloneis low, it’s more to than thehealth government anything dolikely with the and lifedid of our something to worries cause that being low planet. What menumber more? Politicians — and mouths not in a are good way.with Conversely, whose filled hooks, when business up,who it’s because people lines and picks sinkers thought the nothing of who need toour buy widgets due whotowere destroying economy one not model buying widgets because the economy was by this same expert. contracting dueback to natural (orand unnatural, Reference to 1988 the government caused) reasons, decidedChange we Intergovernmental Panel on Climate better buy someby widgets. TheNations. government (IPCC) created the United So had nothing with— this. here we haveto—doagain another panel of ■ Prediction four: In keeping with experts looking into a global emergency. things the government predict the In its initial phases, the does, IPCCIasked climate government manipulate thetonumbers experts fromwill around the world submit to makeideas the claim the economy is getting their and models as to why global better because of how hard working warming was occurring. Allitinisall, more to help 300 all oftheories us “working Americans.” Nowthe than were floated. Including you might say,climate “Craig,changes. you always this obvious one: Yet, say the IPCC about President because you don’t decided only oneObama was worthy of adoption: like him.” You’re rightit in I don’t The one that blamed onaasense. man with the know the man, but what I know of himisand hockey stick graph. Which, ironically, the his thinking, like it or him one iota. one that gaveIitdon’t the most power. Before go off, however, I didn’t like Theyou IPCC model has morphed several President and his bailouts, times overBush the decades. We’re atstimulus the point and his abandoning the free save now where we’re being toldmarket for thetofourth the free Anda Icertain don’t know himof time wemarket. only have number either.left, What thewe’re government and point the years that past thedoes, tipping only thing it can do, is hurt thewiping economy. to stop global warming from out Unless it does or putnone criminals civilization —nothing even though of thein jail instead of partnering global warming models with have them, come nothing close thepredicting government does help. Always to what thewill climate will do.look at it this way,we whatever the government says So here have another coronavirus it is doing,Kindly whatever thewe name of one the law it outbreak. note, have nearly is passing, whatever name or years goal of every year or with flu andthe every few the bureaucracy it is what presenting theour that are novel. And modeltodo people, expect theboard polarwith? opposite occur. leaders jump on Youtogot it, I guess what I’m sayingIfisyou thatdon’t the one predicting disaster. perhaps it’s the timeone to get our own think that’s without theofmost power, perspective. There’s plentyhow of history then you haven’t noticed our leaders booksshuttered and historical outofthere have about research 90 percent the to begin to— understand that all of thisinhas country something never done our happened before. And it will again, history. whether the topic is people orbeen government. All based on a model that’s adjusted best to find downThe nearly 40recommendation times in the UnitedisStates with some booksevery or try that whole Google adjustments day going down as well to thing. There’s a lot ofbeds, information the the number of hospital respiratorson and Greatother Depression. Thetotruth it outbreak. wasn’t every item needed fightisthis even goodisone until the got All ofawhich great news notgovernment getting reported, involved. There’s also the plenty while reports predicting worstofisresearch yet to on theinmedieval when the come two weekswarm comeperiod every two weeks. planet much warmer At somewas point, the next worstthan two today weeks with has a whole lot lessit? people (and warmer well to occur, doesn’t Because that’s what every beforecreated man was here aatpandemic all). Andshows: yep, an model AFTER people have been killing off other outbreak, a peak, a leveling andsurprised an end. people history was Thesince sooner we get to first that, written. the sooner Maybe sometoresearch help stop we can get back work — will because of thesecan trends. aallbusiness only Otherwise, stay open sowe’ll longbe saying we’ve neverAnd seenlast anything like ait in without customers. I checked, our lives. And not in a with gooda way. model customer is one job. publisher of of the the Craig Hall is owner and publisher Business Times. Times. Reach Reach him at 424-5133 publisher@thebusinesstimes.com. or publisher@thebusinesstimes. ✦ F
April 9-22, 2020
The Business Times
pAge 23
News on the doorstep Latest poll results confirm seldom been this bad capitalism misunderstood The lyrics from a Don McLean song fester in my mind, but I can’t think of a more succinct summary: Bad news on the doorstep. I can recall only a few times over the course of a more than 40-year career in newspaper journalism when so much news has turned so bad. The terrorist attacks on that September morning in 2001 come Phil Castle to mind, of course. So does the Great Recession that played out through 2008 and part of 2009. But the coronavirus pandemic of 2020 threatens to eclipse those events in terms every bit as individually tragic and globally profound. Take it from a journalist. There’s no more sure a sign of the seriousness of a crisis than when certain adjectives appear in news stories — among them grim, staggering and unprecedented. Those words and others have been used with increasing frequency to describe the exponential toll of coronavirus in terms of infections, hospitalizations and deaths. The same portent arises when new phrases so quickly become part of routine conversations. Think social distancing to flatten the curve. The news for businesses and the economy has been no less alarming. It’s been my privilege to work as editor of the Business Times for more than 20 years. Not once in that span has a single issue reported on multiple indicators crashing in such historic fashion. The Leeds Business Confidence Index, a measure of confidence among Colorado business leaders, dropped more than 21 points to 29.7 for the second quarter. That’s the biggest single quarterly decline to the lowest level ever. The National Federation of Independent Business reported its Small Business Optimism Index fell 8.1 points in March, the largest monthly decrease on record for that index. Meanwhile, the millions of people claiming unemployment benefits in the United State have that indicator soaring like a rocket. Prospects loom for a recession and double-digit jobless rates. The coronavirus pandemic is a two-headed monster, a public health crisis that by necessity has become an economic crisis. There’s nothing more important than the lives of those afflicted by the disease. Every one of them is a son or daughter. Many of them are husbands and wives, fathers and mothers, brothers and sisters. Every life is unique and irreplaceable. Every life matters, making it a priority to save as many as possible. One of the best ways to slow the spread of the disease and save lives is to keep people far enough apart they don’t infect each another.
That also affects businesses that generate revenue serving congregations of people. Theaters and gyms close. Restaurants are limited to carry out and delivery. Even those businesses that remain open suffer as customers hunker down at home. The tapestry that is an economy unravels. As demand decreases, so does the need for supplies and the vendors that provide them. While not a matter of life or death, the additional tragedies that unfold become those of sales or no sales, jobs or no jobs. Entrepreneurial dreams turn into nightmares. The results of surveys of business owners and managers confirm the process. Fully 92 percent of those responding to a survey conducted by the NFIB reported the coronavirus outbreak had affected their operations, and 80 percent reported slower sales. In the Grand Valley, 50 percent of those who responded to a survey conducted by the Grand Junction Area Chamber of Commerce reported decreasing sales — anywhere from 25 percent to 50 percent or more. Those proportions are likely to rise in subsequent chamber surveys. It’s sorely tempting to try to ignore bad news. And certainly understandable to want to at least tune it out for a while to preserve sanity. I’ve always believed, though, in the power of knowledge, a realistic assessment of bad and good in making important decisions. That’s especially true for the decisions business owners face on a daily basis. As a journalist, I’ve strived over the course of my career to neither sensationalize bad news nor spoon feed readers only good news. I try hard to just call them as I see them. Moreover, I’ve discovered that even in the midst of reporting the baddest news, there’s always good news as well. And it’s invariably about the ways people find to help others. That’s the beauty — and resilience — of the human spirit. That’s been evident in the Grand Valley in the ways people help each other and those at the front lines of the battle, whether that’s in hospitals or grocery stores. That’s been evident as well in the ways customers help businesses and the ways businesses help other businesses. It’s a well-worn phrase, but also well worth repeating: Tough times never last, but tough people do. And that reminds of the lyrics of another song, this one by Stephen Foster. It’s my wish for everyone everywhere enduring this pandemic with the hope their lives and business operations soon return to normal. Hard times come again no more. Phil Castle is editor of the Business Times. Reach him at phil@thebusinesstimes.com or 424-5133. F
The results of a recent Fox News poll showed that nearly a third of registered voters hold a favorable outlook on socialism. This proportion has grown since the previous Fox News poll in February 2019. Why, in an affluent country, would capitalism lose ground to socialism? Capitalism is defined as an economic and political system in which the trade and industry of a country are controlled by private owners for profit — rather than by the state, as in socialism. Capitalism is often considered the most moral and just system of economics because of the relationship between private property and voluntary arrangements of the individual. Private enterprise offers the most efficient and effective means of providing people the goods and services they want. Yet, naysayers believe capitalism is unfair, the cause of many problems on earth. These anti-capitalist individuals Phyllis blame the problems on capitalism instead of an adulterated Hunsinger form called “crony capitalism.” Crony capitalism is defined as an economic system characterized by close, mutually advantageous relationships among business leaders and government officials. When the capitalistic system is manipulated by those in political power to serve special interests to acquire wealth without the consequences of market competition, corporations gain an unfair advantage and the consumer is the biggest loser of all. Crony capitalism is demonstrated in many ways, including government grants, favored status in acquiring permits, specific tax breaks, subsidies and policies of government protection. Once this arrangement is set, consumers don’t benefit from rapid innovation or market forces that drive down prices because corporations linked to government funding have no incentive to run efficiently. Their survival isn’t based on innovation or competition. Remember Solyndra and the massive amounts of federal dollars that funded that company’s failed efforts? Despite evidence to support capitalism as the most moral economic system thus far designed, The freer the capitalism still doesn’t fare well in the polls. markets, the Another reason could be the mistaken comparison more consumers of capitalism with some utopian ideal. The fact remains that any other system practiced besides benefit from capitalism has been demonstrated to be disastrous access, choice, for countries and their citizens. Glaring examples competition, of failed economic systems includes those of Cuba, North Korea and Venezuela as well as the innovation and former Soviet Union. When governments direct lower prices. the economy, as in those countries with central planning, or partner with corporations, as in crony capitalism, the economy becomes stifled and scarcity and poverty exist to a greater degree. Capitalism needs freedom to remain responsive to the wants and needs of citizens. With every fee, regulation, rule and tax imposed on businesses, there’s a loss of freedom. Consumers purchase goods and services they value. The freer the markets, the more consumers benefit from access, choice, competition, innovation and lower prices. Think automobiles, cell phones, computers and televisions. Poll results reflecting a negative view of capitalism might simply reflect instead a lack of knowledge about capitalism and free markets. Phyllis Hunsinger is founder of the Freedom & Responsibility Education Enterprise Foundation in Grand Junction. The foundation provides resources to students and teachers in Western Colorado to promote an understanding of economics, financial literacy and free enterprise. For more information, visit www.free-dom.us.com. A former teacher, principal and superintendent, Hunsinger wrote “Down and Dirty: A ‘How To’ Math Book” Reach Hunsinger by email at phyllis@free-dom.us.com. F
SHARE YOUR VIEWS The Business Times welcomes letters to the editor and guest columns on issues affecting businesses in Western Colorado. Submissions should be emailed to phil@thebusinesstimes.com and include names and telephone numbers for verification.
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Opinion Business Briefs Business People Almanac
n COLDWELL BANKER CLOSES OFFICES, BUT CONTINUES TO OFFER SERVICES
A Grand Junction-based real estate firm has temporarily closed its offices to the public because of the coronavirus outbreak, but continues to offer services. “This company was built for this. We have the technology in place so that sellers can still sell and buyers can still buy,” said Todd Conklin, chief executive officer of Coldwell Banker Distinctive Properties and Coldwell Banker Commercial Prime Properties. Todd Conklin Conklin said the decision to temporarily close offices was based on the recommendations of federal and state agencies. “We remain absolutely dedicated to the safety of our clients and our community and will continue to make decisions with that as our first priority.” Agents and staff will continue working, though, in offering services and communicating with clients, he said. Coldwell Banker Distinctive Properties operates offices in Colorado, Idaho and Montana. For additional information, log on to www.cbdistnctive.com. Coldwell Banker Commercial Prime Properties operates offices in Colorado and Idaho. For more information, visit the website at www.cdcprimeproperties.com. n FAMILY HEALTH WEST PROVIDERS OFFER PATIENT SERVICES THROUGH TELEMEDICINE
Colorado Canyons Hospital and Medical Center as well as most outpatient physician practices at Family Health West will offer telemedicine services during the coronavirus outbreak. “Family Health West is pleased to offer another way for our patients to connect with their primary care and specialty care providers, obtain needed health care services Korrey Klein ... while also reducing the risk of exposing our patients to COVID-19 and other illnesses,” said Dr. Korrey Klein, president and chief executive officer of Family Health West in Fruita. The Arthritis Center of Western Colorado, Atlas Arch Neurosurgery,Autism Group, Canyon Rim PsychologicalAssociates, Pediatric Therapy and Redrock Integrative Rehabilitation Medicine offer telehealth visits. Western Valley Family Practice has contacted patients with appointments to set up telehealth alternatives to those with risks to exposure. Call 858-3900 for more information
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The Business Times welcomes submissions for free publication in Business Briefs. Email submissions to phil@thebusinesstimes.com or submit a news release online at the website at www.thebusinesstimes.com.
Mesa County employers will receive a total of $2.2 million in the latest distribution of dividends from a workers’ compensation insurer. “At this time when Colorado businesses and their employees are facing significant financial hardships, we’re glad to be in a position to return some money to Phil Kalin our policyholders,” said Phil Kalin, president and chief executive officer of Pinnacol Assurance. “We are also pleased that we have been able to reduce our customers’ rates by an average of 7 percent this year.” Pinnacol Assurance will distribute a total of $70 million in general dividend checks, a portion of company surplus returned to customers. Check amounts are calculated based on customers’ premium sizes as well as their success with partnering with employees and Pinnacol to keep their workplaces safe. Those efforts include claims reporting within 48 hours as well as investments in safety education, technology and equipment. About 95 percent of Pinnacol policyholders are eligible to receive a dividend — more than 50,000 employers in Colorado. The 2020 dividend checks will average $1,319. In Mesa County, dividend checks will average $1,162. Pinnacol Assurance has distributed dividends for five consecutive years. Counting this year’s distribution, the company has issued dividends 12 times since 2005 and returned a total of more than $746 million to Colorado employers. For additional information about Pinnacol Assurance, log on to the website located at www.Pinnacol.com.
n ARC THRIFT STORES CLOSE RETAIL OPERATIONS, BUT COLLECTING FOOD AND OTHER ITEMS Arc Thrift Stores, including the new location in Grand Junction, will remain closed until at least April 11 because of the coronavirus outbreak. The organization remains open, though, and accepts donations at its 31 stores and 15 donation stations in Colorado of nonperishable foods and soft goods to help people in need. Donations are accepted from 10 a.m. to 6 p.m. Staff will pick up donations from cars and quarantine items for 72 hours or more. As part of a food drive, Arc Thrift Stores is collecting canned foods and dried goods. Donations also are sought of gowns, masks and scrubs as well as cleaning supplies and sanitizers in addition to bedding, clothes and household items. In Grand Junction, the Arc Thrift Store is located in the East Gate Shopping Center at North Avenue and 28 1/4 Road. Based in Denver, Arc Thrift Stores fund advocacy efforts for people with intellectual and development disabilities and also is one of the largest employers in the state of people with those disabilities. For more information, visit www.arcthrift.org. n HILLTOP FAMILY RESOURCE CENTER LAUNCHES PARENT SUPPORT HOTLINE The Hilltop Family Resource Center in Grand Junction has launched a hotline offering support to parents facing additional challenges in the midst of the coronavirus outbreak. Parents can call the hotline at 244-0660 between 9 a.m. and 5 p.m. weekdays. Callers can receive help in avoiding stress as well as community referrals, parenting tips and suggestions for keeping children entertained. Callers also can ask general parenting questions or simply connect with a friendly voice. The Hilltop Family Resource Center offers a range of support and services to families, including resources and referrals to meet basic needs as well access other services, car seat safety checks, day treatment and transitional living services for adolescents, information on prenatal care, mentoring services match and screenings to identify developmental issues. F
Online directory connects beef producers with buyers The Colorado Beef Council has created an online directory to help connect producers who sell beef with consumers who want to buy it. The Colorado Beef Directory will help educate consumers about beef sourcing and enable them to purchase directly from Colorado producers who sell local and freezer beef. “Today’s global challenges have shown us that consumers want to support their local economies,” said Todd Inglee, executive director of the Colorado Beef Council. “We’ve also seen a growing desire by consumers to learn more about how beef is produced
aPril 9-22, 2019
and where they can find direct marketing opportunities. This beef directory is a resource for helping make that connection.” Colorado beef producers can submit information about their operations at www.cobeef.com/cattlemens-corner/submissions. The directory will be available online on the Colorado Beef Council website at www.cobeef.com. “We raise some of the country’s best beef in this state, and Colorado consumers deserve to have the opportunity to directly take advantage of that,” Inglee said. F
April 9-22, 2020
The Business Times
pAge 25
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News Business Briefs Trends Business People Alma Contributors Commissioner named to oversee Opinion securities division B Business Briefs Busine Business People Almanac
n MIND SPRINGS HEALTH ANNOUNCES HIRING OF CHIEF MEDICAL OFFICER
Dr. William Elsass has joined Mind Springs Health as chief medical officer of the Western Colorado mental health services provider. Working from his office in Frisco, Elsass provides leadership and support to 12 outpatient offices in the region as well as the West Springs psychiatric hospital in Grand Junction. “We couldn’t be more excited William Elsass to have Dr. Elsass join our leadership team,” said Sharon Raggio, president and chief executive officer of Mind Springs Health. “His combination of experience as a practicing psychiatrist along with his in-depth understanding of the business of health care, specifically mental health, is an incredible asset to our organization,” Raggio said. “We look forward to the guidance, training and Sharon Raggio support he will provide our staff going forward.” Elsass brings to his duties experience as a psychiatrist working in private practice and the Air Force as well as his responsibilities in medical administration, most recently as behavioral medical director with UnitedHealth Group. A graduate of the University of California at Santa Barbara, Elsass attended medical school at the Uniformed Services University of Health Sciences. He completed his psychiatric internship and residency at the Wilford Hall Medical Center at Lackland Air Force Base in San Antonio. Elsass completed a fellowship in child and adolescent psychiatry at the University of Texas Health Sciences Center in San Antonio and psychoanalytic training with the New England Academy of Psychoanalytic Studies in Portland, Maine. Elsass holds a master’s of business administration degree from the Isenberg School of Management at the University of Massachusetts at Amherst. Mind Springs Health serves a 10-county region covering a total of 23,000 square miles in Western Colorado. Mind Springs Health offers counseling and therapy for mental wellness as well as assists individuals and families dealing with substance abuse and addiction. For additional information, log on to the website located at visit www.mindspringshealth.org.
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aPril 9-22, 2020
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Kathy Tomkins
Mary Kruse
Toni Heiden-Moran
n GRAND JUNCTION REAL ESTATE FIRM HONORS ITS TOP AGENTS FOR MARCH Kathy Tomkins, Mary Kruse and Toni Heiden-Moran were honored as the top-performing agents for March at Weichert Realtors-Heiden Homes Realty in Grand Junction. Tomkins posted the most closed transactions and Kruse the highest dollar volume in sales. Kruse and Heiden-Moran tied for the most new listings for the month. The former owner of a mobile home supply business, Tomkins is also licensed mobile home dealer. Kruse also manages rental properties for Weichert Realtors-Heiden Homes Realty and holds the Graduate Realtor Institute designation. Heiden-Moran is owner and broker of the firm and has received emeritus status from the National Association of Realtors. Weichert Realtors-Heiden Homes Realty operates offices at 735 Rood Ave. For more information, including listings and rental properties, call 245-7777 or visit the website at www.heidenhomes.com. n GRAND JUNCTION MAN APPOINTED TO STATE MINORITY BUSINESS COUNCIL Jorge Pantoja of Grand Junction has been appointed to the Colorado Minority Business Advisory Council. Pantoja serves as a representative of a business association on the council, which recommends regulatory chances to encourage the start and growth of minority owned business in the state. F
Tung Chan has been appointed Colorado Securities Commissioner and will oversee the Division of Securities of the Department of Regulatory Agencies. The division protects investors and maintains public confidence in securities markets while avoiding unreasonable burdens on participants in capital markets. “I’m looking forward to joining the team at the Division of Securities who are doing excellent work to balance a thriving securities industry in Colorado with the vital protection of investors,” Chan said. “As we enter a very uncertain time together, the work of the division will continue to be to provide steady, thoughtful and sound regulation in the face of evolving challenges.” Chan brings to her duties experience as securities commissioner in Hawaii from 2006 to 2015. In that role she expanded an investor education program and the use of rapid response fraud alerts. She also served as the head of the investor education committee with the North American Securities Administrators Association. Prior to that, she worked as a securities attorney with the international law firm of Cleary, Gottlieb, Steen & Hamilton in New York City. Most recently, Chan served as general counsel for blockchain startups, including the Ethereum Foundation . “Tung’s expertise when it comes to securities from both an industry as well as regulatory perspective will be a huge asset to the state of Colorado,” said Patty Salazar, executive director of the Department of Regulatory Agencies. “Throughout her career she has built an impressive resume that includes comprehensive knowledge of technical securities law that has benefited both investors at risk of being defrauded as well as small companies looking to enter and contribute to the market.” Chan graduated from the University of Michigan Law School and Dartmouth College. After law school, she clerked for Stephanie K. Seymour, chief judge of the U.S. Court of Appeals for the 10th Circuit. F
School District 51 nurses selected as finalists for Nightingale Awards Two nurses with Mesa County School District 51 have been selected as the finalists for annual Nightingale Awards. Sheri Campbell and Heather Schuman are among the finalists for awards honoring health care professionals who exemplify the practice and philosophy of nursing pioneer Florence Nightingale. The winners will be announced in coming months. Campbell received the Nightingale Clinical Leadership in Innovation Award for the Western Slope.
She works at Redlands Middle School and both Broadway and Wingate elementary schools. Campbell put together a mock drill program that was selected for a presentation for a national school nurse conference in June. Although schools conduct fire and lockdown drills, medical emergencies are more likely to occur. The mock drill program prepares staff to respond to seizures and anaphylactic or diabetic reactions as well as use cardiopulmonary resuscitation to save lives.
Schuman was selected as a finalist in the clinical leadership in advocacy category. She works as a nurse at Central High School. In addition, she’s worked as a diabetes educator in Western Colorado, shares her knowledge and skills as a trainer for nurses and health assistants and ensures diabetic students receive the best care possible to achieve their academic goals. F
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The Business Times
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The Business Times
aPril 9-22, 2020