The owner and publisher of a business journal continues to endure challenges and buck newspaper industry trends.
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New manager
Fruita City Manager Mike Bennett was named the official finalist to become Grand Junction city manager.
Sales tax collections, a key measure of retail activity, continue to trend upward on a year-over-year basis.
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Retreating rate
Business People
The unemployment rate retreated in Mesa County in August, ending a string of three months of increases.
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Rural slump
An index tracking the economy in rural areas of a 10-state region has slumped to a four-year low.
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Civility at work
Civility constitutes a vital component of a healthy workplace culture and requires a collective commitment.
Is the latest outlook for the Mesa County economy a proverbial glass half full or half empty? While the labor and real estate markets in the county have slowed, there’s been an increase in personal income and a decrease in poverty. Single-family building permits have rebounded. Moreover, continued migration is expected to bolster the local population.
The economic outlook: Half full or half empty?
Professor: Labor growth slowing in Mesa County as local trends increasingly follow national trends
When Nathan Perry examines the statistical picture of the Mesa County economy, he sees slowing labor and real estate markets as well as what could be decreased consumer spending.
While Mesa County was once isolated from the trends affecting the United States economy, that’s no longer the case. “The Mesa County story is the same as the national story,” says Perry, an economics professor at Colorado Mesa University who prepares a quarterly economic update for Mesa County.
Perry also sees what he considers some encouraging signs, among them continued migration that’s expected to bolster the county population, an increase in personal income and a decrease in poverty. Single-family building permits have rebounded after nearly two years of declines.
Looking ahead, Perry says the probability of a so-called soft economic landing exceeds that of a mild recession, but also the likelihood more robust economic conditions will soon return.
Perry issued his latest Mesa County economic update in September He says the biggest takeway is a slowdown in the labor market.
Employment estimates fell from 74,145 in June 2023 to 72,993 in June 2024, he says. That’s a bigger decline than what occurred in other Western Slope counties.
For August 2024, the latest month for which estimates are available, the seasonally unadjusted unemployment rate in Mesa County stood at 4.4 percent. That’s a drop of two-tenths of a point from July that ended a string of three straight months of increases.
See OUTLOOK page16
Publisher conquers challenges as newspaper marks 30th year
as well as the ongoing loyalty of businesses that advertise to not only promote top-of-mind awareness, but also support the newspaper.
Craig Hall has endured a succession of financial and personal challenges over his 24-year tenure as owner and publisher of the Business Times.
The terrorist attacks in 2001, the financial crisis in 2008 and especially the COVID-19 pandemic in 2020 affected advertising sales and revenue for the Grand Junction business journal. At the same time, Hall had to deal with the deaths of two brothers and his parents and, in 2023, a heart attack and more than nine hours of open heart surgery.
But as the Business Times marks 30 years in operation in 2024, Hall continues to buck industry trends that by one estimate resulted in the demise of a third of the newspapers in the United States over the past two decades.
Hall attributed success and longevity to the ability to pivot to adapt to changing conditions
Moreover, Hall touted the Business Times as a product advertisers and readers not only need, but also want. That’s an important distinction, he said. “I look at the paper as a product. Selling a product I believe in and could go out and sell.”
Terry Lawrence founded what’s now the Business Times in 1994. Hall’s brother, Karl, initially worked for the newspaper as a bookkeeper. But joined with their father, Harry, to purchase the newspaper.
Craig Hall said his brother possessed an entrepreneurial bent. “He just saw a business that interested him, and he just thought he’d make a go of it.”
Karl died in 2000, however. Craig Hall said he moved from Michigan to the Grand Valley to help his family and step in as owner and publisher, but also make what he called a fresh start.
Craig Hall has worked 24 years as owner and publisher of the Business Times, a twice-monthly business journal that’s been published in Grand Junction for 30 years. Hall has endured a succession of financial and personal challenges over that time, but bucked trends that have decimated the broader newspaper industry.
(Business Times photo by Phil Castle)
STORY AND ILLUSTRATION BY PHIL CASTLE
Phil Castle The Business Times
Nathan Perry
The Business Times 609 North Ave., Suite 5 Grand Junction, CO 81501 (970) 424-5133 www.thebusinesstimes.com
Fruita city manager selected to take on Grand Junction role
A man who’s worked a decade as Fruita city manager was selected as a finalist to become the next Grand Junction city manager.
The Grand Junction City Council announced the selection of Mike Bennett as a finalist for the position, concluding a national search that produced two finalists.
Fourteen days must elapse before a formal job offer can be extended. Andrea Phillips will serve as interim city manager until Bennett is expected to begin his new role in late November. Bennett will succeed Greg Caton, who resigned in April
“We believe Mike has the vision to move the city forward while also managing the day-to-day operations with a team of dedicated city staff,” said Grand Junction Mayor Abram Herman. “We are fortunate that Mike already has an understanding of the challenges facing the western part of the state to include those specific to the City of Grand Junction. We also feel Mike exudes the warmth and friendly nature of our community and will serve as a collaborative partner in efforts to maintain productive relationships with local organizations and businesses.”
Bennett said he was excited and honored to serve as Grand Junction city manager. “Having worked in a neighboring town for the past 10 years, I am certainly aware of the challenges facing Grand Junction and many other communities in the western part of our state. Initially, I plan to focus on learning about how those challenges impact this community and gain a better understanding of all that the city is doing to address them.”
“My first priority is to foster an environment of open communication, collaboration and mutual respect with city council, staff and the community as we begin what I hope is a long and productive relationship. Grand Junction is an amazing city, and I am proud to take on this leadership role and continue to help the city thrive,” Bennett said.
Bennett has served as Fruita city manager since 2014. He previously worked for the City of Hickory, N.C., as director of administrative services, assistant to the city manager and interim transit director. He holds a bachelor’s degree in journalism from Utah State University and a master’s of public administration degree from Brigham Young University, where he’s served on the program’s executive advisory board since 2018.
Bennett also graduated from the senior executive institute at the University of Virginia in 2013. He’s a credentialed manager through the International City/ County Management Association and a member of that organization. He is a board member of the Colorado City/County Management Association and in April was named Colorado City Manager of the Year by members of that organization.
Under a council-manager form of government, the city manager serves as executive and reports to the city council. The council hires a manager to provide leadership, direct and coordinate city services, present information and recommendations to the council and implement policies and goals set by the council.
Mike Bennett
Abram Herman
CMU builds on promise to overcome barriers for low-income students
Effort expanded from West Slope to state to further increase access and affordability
Officials at Colorado Mesa University based in Grand Junction plan to expand a financial support program to include all of Colorado while also increasing eligibility to include more students from low-income and first-generaion families.
with polarizing world views taking over many campuses across the Unites States.
The CMU board of trustees expanded what’s dubbed as the CMU Promise to cover the tuition of students not only from 22 western Colorado counties, but also those from every county in Colorado. Trustees also increased the annual household income eligibility requirement from $65,000 to $70,000.
What didn’t change, was a commitment to students, said CMU President John Marshall. “It’s not just a promise to cover tuition. It’s a promise for an opportunity for a better life, a promise to teach students how to think and not what to believe. We are trying to meet a much broader problem in terms of what Coloradans want and need out of higher education.”
The results of a Gallup poll conducted this summer reflect how the public confidence in universities and colleges continues to decline. Most people believe higher education is too expensive and students often don’t feel like they belong
Marshall said the expanded statewide promise offers an example of how CMU is advancing its mission, its first principle values and commitment to what campus leaders call radical affordability.
In addition to the CMU Promise, the university also revamped how it issues financial aid and increased merit aid in a broader approach to removing financial barriers to higher education.
To promote those efforts, a CMU Promise Tour is planned with stops beyond western Colorado to locations throughout the state.
Last year, Marshall and CMU students traveled hundreds of miles in a series of road trips across western Colorado visiting high schools and informing students if their family makes $65,000 or less a year, CMU would cover their tuition.
The 2023 tour included stops in Cedaredge, Delta, Eagle, Fruita, Grand Junction, Naturita, Nucla, Olathe, Meeker and Rifle. CMU enrollment increased from all of the communities in which the tour included
This fall, Marshall and CMU students will visit the Eastern Plains of Colorado, reflecting the university’s broader commitment to reaching students throughout the state.
Grand Valley lab and peach farm receive agrivoltaic project grants
A Colorado State University research facility and peach farm in the Grand Valley are among the winners of the latest grants for projects that demonstrate the benefits of producing solar energy and food from the same parcel of land.
The CSU Caspari Lab will assess the effects of agrivoltaics on grape yield, fruit quality and vineyard microclimates in the western Colorado growing region.
Talbott’s Farms in Palisade will install sensors and other equipment to monitor the effects of an agrivoltaic system over a peach orchard.
The Colorado Department of Agriculture awarded a total of $500,000 in agrivoltaics research and demonstration grants to six projects.
“Colorado’s agriculture industry is leading the way in innovation, and the agrivoltaic research and opportunities supported by these grants will move our state forward while strengthening agriculture in our state. Just as Colorado’s history is built on the strength and resilience of agriculture, our future will be as well,” said Colorado Gov. Jared Polis.
Kate Greenberg, Colorado commissioner of agriculture, said the Colorado Department of Agriculture is committed to helping producers implement new ways to generate energy on farms and ranches. “We are glad to support further understanding of the benefits and challenges of combining solar and agriculture and the diverse benefits each parcel of land can provide.”
The competitive grant program received 25 applications requesting more than $3 million. A grant evaluation committee reviewed each application, scoring them on impact, producer benefits, innovation, approach and budget and applicant experience. The six projects selected for funding include concepts from research institutions, solar companies and farms.
Funding for this round of grants was approved during the 2024 legislative session. Grants are administered by the Agricultural Drought and Climate Resilience Office, which supports efforts to strengthen the ability of Colorado producers’ to mitigate and respond to drought and a changing climate.
John Marshall
Mesa County sales tax collections trend upward
Sales tax collections, one measure of retail activity, continue to trend upward on a year-over-year basis in Mesa County.
The county collected nearly $4.25 million in sales taxes in August. That was an increase of almost $56,000 and 1.3 percent over the same month a year ago. August collections reflect July sales.
The county collected nearly $2.5 million in taxes on retail sales, a 2 percent increase over the same month last year. Increased tax collections on the sales of general merchandise, clothing and health and personal care items more than offset decreases in collections on the sales of automobiles, home improvements and sporting goods.
The county collected almost $1.8 million in taxes on sales in other industries, up four-tenths of a percent from August 2023. Increases in the hotel and restaurant,
MESA COUNTY TAX COLLECTIONS
manufacturing and construction sectors more than offset a decrease in the wholesale category.
Through the first eight months of 2024, Mesa County collected more than $33.1 million in sales taxes. That’s an increase of 2 percent over the same span in 2023.
Tax collections on retail sales rose 2.4 percent to top $19.3 million with the biggest gains in general merchandise, clothing and home improvements.
Tax collections from other industries exceeded $13.8 million, a 1.5 percent year-over-year increase, with the biggest gains in the hotel and restaurant, rentals and professional sectors.
Mesa County collected another $12.6 million in sales taxes it distributed back to cities and towns in the county, including $7.3 million to Grand Junction, $2.3 million to Fruita, $1.6 million to Palisade and $686,000 each to Collbran and De Beque.
Use tax collections — almost all of them on automobiles purchased outside the county, but used inside the county — totaled $430,265 in August and more than $3.1 million through the first eight months of 2024. Those are increases of 19.1 percent and 7.8 percent, respectively, over the same spans in 2023.
Small business advocacy group wants continued tax deduction
Making permanent a 20 percent small business tax deduction would promote the creation of 26,000 new jobs a year in Colorado, according to a report from a small business advocacy group.
Letting the deduction expire at the end of next year could lead to decreased hiring and investments and increased prices, according to the results of a separate survey.
“These studies underscore just how crucial the 20 percent smallbusinessdeduction is to our Main Street employers,” said Tony Gagliardi, director of the National Federation of Independent Business in Colorado. “Small businesses are the foundation of our national and local economy. The 20 percent small business deduction has made it easier for small and family owned businesses here in Colorado to raise wages, purchase new equipment and expand their operations in this challenging economic environment.”
The 20 percent small business deduction was created in 2017 as part of a federal tax law. The deduction is scheduled to expire at the end of 2025.
An analysis by Ernst & Young found that making the 20 percent small business deduction permanent would create 1.2 million new jobs each year for the first 10 years in the United States and 2.4 million jobs annually afterward.
In Colorado, making the deduction permanent would create 26,000 new jobs a year for the first 10 years and 50,000 annually afterward.
Nearly 60 percent of small business owners who responded to a survey conducted by the NFIB said ending the deduction would hurt operations — 61 percent reported they’d likely raise prices, 44 percent would postpone or cancel capital investments and 36 percent would postpone or cancel new hiring.
F Tony Gagliardi
Biz group endorses West Slope candidates
A small business advocacy group has endorsed a Grand Junction lawyer in his bid for election to the U.S. House of Representatives.
The NFIB also endorsed two western Colorado incumbents for re-election to the Colorado House of Representatives.
The NFIB endorsed Jeff Hurd, a Republican from Grand Junction running against Adam Frisch, a Democrat from Aspen for election in Colorado’s 3rd Congressional District.
“As a Colorado native and small business owner, Jeff Hurd understands the importance of a strong small business economy in our state,” said Tony Gagliardi, state director of the NFIB in Colorado. “We are confident he will help create a predictable and stable economic environment where businesses can start, grow and expand. Jeff Hurd will be a dependable voice for Main Street, and we are proud to endorse him.”
Sharon Sussin, senior national political director for the NFIB, agreed. “He deeply understands what matters most to our members and will be reliable small business advocate in Congress.”
The NFIB FedPac, the group’s political action committee, issued the endorsement. Voluntary contributions from NFIB members fund the committee. Endorsements are based on member-driven evaluations.
In addition to Hurd, the NFIB endorsed Rick Taggart and Matt Soper in the bids for re-election to the Colorado House of Representatives. Taggart, a Republican from Grand Junction, represents House District 55. Soper, a Republican from Delta, represents House District 54.
The NFIB endorsed 34 candidates running for seats in the Colorado Legislatures in the November general election — 26 House candidates and eight Senate candidates.
The endorsements are based on the candidates’ positions and, if applicable, their voting records on key business issues.
According to the NFIB Colorado voting record for 2024, Taggart scored 85 percent on the record based on votes on 14 measures ranging from workforce development to employer mandates. Soper scored 92 percent on the record. He didn’t vote on one of the measures, but voted in alignment with NFIB positions on the other 13 measures.
“A recent NFIB survey found that rising costs are taking a serious toll on our job creators,” Gagliardi said. “Main Street Coloradans need strong advocates in Denver. These candidates understand the challenges small business owners face and support policies that will make it easier to do business in our state.”
Elementary school earns national award
Mesa View Elementary School in Grand Junction is among four Colorado schools recognized for academic performance and closing achievement gaps.
Mesa View Elementary School received the National Blue Ribbon School Award.
Presented by the U.S. Department of Education, the award ranks among the most prestigious awarded schools in the country. The award recognizes excellence in academic growth and success in creating an inclusive and supportive learning environment.
“This is a high honor. Colorado is a leader in providing a
high-quality education that helps student succeed and learn the skills needed to thrive,” said Colorado Gov. Jared Polis. “I am thrilled that four Colorado schools have been recognized with this prestigious award for performance, and I look forward to celebrating this achievement, sharing the magic of what works and helping even more Colorado schools excel.”
Brian Hill, superintendent of Mesa County School District 51 and other school administrators were scheduled to participate in a news conference Sept. 23 at Mesa Valley Elementary School to announce the award.
The other three Colorado schools receiving the award were DSST Cedar High School in Denver, Skyview Middle School in Pueblo and Zach Elementary School in Fort Collins.
New tax credit aims to expand access to food in Colorado
A new tax credit is available to food retailers and family farms to increase access to healthy groceries.
Eligible businesses that puchase equipment to expand access to food can apply for the refundable income tax credit. Starting this year, up to $10 million per year is available to help small businesses that fit the criteria. The Community Food Access Tax Credit will continue through 2030.
“Both rural and urban communities across Colorado experience lack of access to freshly harvested or grown food. This refundable tax credit program will help small food retailers and small farms bring healthy food to communities with low access to fresh, nutritious food,” said Kate Greenberg, Colorado commissioner of agriculture. “Small businesses will be able to get back 75 percent or more of the cost of expensive equipment necessary to provide fresh produce, meat and dairy products to communities across Colorado.”
Funded through state legislation enacted in 2023, the tax credit will build on community food access grants created by state legislation enacted in 2022. The grants help stores, farm stands, farmers markets and farms purchase equipment or cover operating expenses that would allow them to increase the availability of healthy food. To date, a total of 117 grants worth a collective $5 million have been awarded in 42 Colorado counties.
“The success of this grant program can really be attributed to the great number of stakeholders who engaged with its development and conception,” said Amanda Laban, director of the markets division of the Colorado Department of Agriculture.
Examples of businesses eligible for the new tax credits include grocery, corner and convenience stores; carnicerías, bodegas or mercantiles; farmers markets, farm stands and community supported agriculture operations; and small farms, ranches and dairies.
Businesses can receive tax credits for such items as cold storage, food preservation equipment, shelving and displays, delivery vehicles and more. Non-eligible expenses include things such as office supplies, food and product costs, installation costs or salaries.
More information about the Community Food Access Program and the tax credits are available online through the website at https://ag.colorado.gov/ markets/markets-funding/communityfood-access-program
Jared Polis
Kate Greenberg
Grant to fund development of master irrigator program for Mesa and Delta districts
A nearly $50,000 grant will help fund the development of a master irrigator program for the Mesa and Delta conservation districts.
The Colorado River District awarded the $49,997 grant through its community funding partnership program.
The Mesa and Delta conservation districts will design and implement a master irrigator program to assist agricultural producers improve water use efficiency on their operations while maintaining profitability.
A 32-hour course will be offered annually to farmers and crop consultants for three consecutive sessions starting in February 2025.
The program will follow the model of the Colorado master irrigator program and practices that have been implemented on more than 200,000 acres of irrigated land.
The program will be crafted with assistance from producers and experts for the Colorado and Gunnison river basins and a cohort of 25 participants. The program will cover such topics as integrating advanced irrigation and water use management.
The program also will offer information on regional hydrology, technology improvements and Colorado
FOR YOUR INFORMATION
For more information about the master irrigator program and sponsorship opportunities, visit the program website located at www.mesacd.com/coloradomaster-irrigator.
River Compact obligations.
The program will provide $2,000 stipends to participants who complete the course and submit surveys to gather information about the practices they’ve implemented. A total of $15,000 will be awarded to two winners from the Mesa and Delta districts.
The program will provide financial resources and technical support to participants for three years.
In addition to the Colorado District grant, funding for the program will be provided through local organization and business sponsorships. Sponsorships are available on four levels for donations ranging from more than $2,000 to more than $200. Sponsors also provide discounted products and services to program graduates. F
Powderhorn Mountain Resort joins in efforts to offer ski pricing options
Powderhorn Mountain Resort east of Grand Junction is among the Colorado ski resorts offering friendly pricing options for the upcoming season.
Powderhorn plans to freeze or reduce lift ticket prices and expand programs to provide relief to guests, including lower-priced menu options, expanded free learning programs and discounted passes for students and military personnel.
“Now is a great time to start planning all elements of your ski season, because the earlier you buy tickets and book lessons, rentals and lodging, the more opportunities there are to save,” said Melanie Mills, president and chief executive officer of Colorado Ski Country USA, a trade association of resorts.
“If you have a favorite resort, look into a season pass or multi-day lift ticket pack. And don’t forget that many resorts have early bird and bundle pricing for packages of lift tickets, lessons, rentals and lodging.”
Arapahoe Basin will roll out two group lesson deals for guests looking to learn and improve their skills. Both packages include lessons, gear rental and lift tickets.
Copper Mountain will continue its Play Forever Thursdays program with $99 discounted lift tickets and a portion of proceeds benefiting a non-profit community partner.
Howelsen Hill in Steamboat Springs will take Sunday Funday to a new level with free skiing every Sunday at North America’s oldest operating ski area.
Winter Park Resort will introduce a learn-to-ski guarantee. If participants who take three lessons can’t ski 10 green trails they’ve identified, the fourth lesson is free. The kids ski free program will include a free lift ticket with each ski lesson and free
rentals with an adult three-day rental package.
Several Colorado resorts — including Aspen Snowmass and Copper Mountain — have added new ski lifts.
“Major investments like lifts mean that skiers and snowboarders can get on the snow and move around our mountains faster with shorter lines,” Mills said. “Improved skier and snowboarder flow on a mountain materially enhances the overall guest experience, and Colorado continues its national leadership when it comes to enhancing our visitors’ enjoyment and satisfaction.”
At Aspen Snowmass, the Coney Express, a new high-speed quad lift, will replace the Coney Glade lift but with a larger footprint that includes a new loading access terminal in the Snowmass base area across from the Snowmass Mall. Coney Express will also feature a midway station for access to and from the Snowmass terrain park and access for foot traffic guests to the Lynn Britt Cabin and Spider Sabich Race Arena.
At Copper Mountain, the new Timberline Express chairlift will improve access to intermediate terrain. The new, six-person lift will replace the old four-person chair, increasing uphill carrying capacity. The chair replacement project is part of a multi-year development of the western territory aimed at providing a better skiing and riding experience for beginners, families and progressing athletes.
Arapahoe Basin will celebrate its first full season of carbon neutrality and will invite guests to enjoy such events as the Alley Mug Club, Enduro and “Gay Basin” — the resort’s annual pride celebration.
At Eldora, the new Caribou Lodge will open this winter and serve as a new children’s learning center and the headquarters for Ignite Adaptive Sports. Caribou Lodge will also feature new restrooms and food-and-beverage facilities.
Department to host community summit Sept. 30 and Oct. 1
The Mesa County Department of Human Resources has scheduled a community summit to support those who support youth.
The summit is set for 8:30 a.m. to 4 p.m. Sept. 30 and Oct. 1 at the Colorado Mesa University Center ballroom in Grand Junction.
“The goal of this summit is to bring together social caseworkers, service providers, foster and kinship families and others involved with children and youth in foster care to increase communication and work together to support children and families in the community,” said Joe Kellerby, director of the child welfare division of the Mesa County Department of Human Services.
The summit will feature Ginger Johnson, a motivational speaker who will discuss the importance of human connections. Caseworkers, foster parents, service providers and others will present breakout sessions.
For more information, visit https://www.mesacounty.us/ departments-and-services/humanservices/child-welfare/mesa-countyannual-community-summit
Melanie Mills
Outlook
Continued from page 2
For Grand Junction, the seasonally unadjusted unemployment rate slipped a tenth of a point between July and August to 4.7 percent.
The statewide seasonally adjusted jobless rate edged up a tenth of a point to 4 percent, the first time the state rate has reached that level since January 2022.
However, quarterly numbers for employment and wages for the first quarter of 2024 in Mesa County reflected job and wage gains compared to the first quarter of 2023, with the biggest job gains in the health care sector. Payrolls also increased in public administration, transportation and warehousing and professional and technical services.
Perry attributes slowing job growth to a number of factors, including uncertainty over economic and business conditions, slowing consumer spending and lower natural gas prices that have affected exploration and production activity.
A total of 2,584 new business filings with the Colorado Secretary of State’s Office came from Mesa County in 2023. That’s up from 2,581 in 2022. New business filings constitute a leading indicator of subsequent job growth.
Sales tax collections, a measure of retail activity increased in Mesa County and Grand Junction. Through July of 2024, collections increased 2.44 percent in Mesa County and 9.2 percent in Grand Junction. For August, Mesa County sales tax collections were up 1.3 percent over the same month a year ago.
According to the Colorado State Demography Office, the Mesa County population is projected to continue to increase. A population of 155,993 in 2020 is expected to reach 162,833 in 2025 and 174,827 in 2030.
Perry says migration to the county will drive those gains more than changes in birth and death rates.
Higher interest rates on mortgages have affected real estate sales, Perry says, in making financing more expensive for homebuyers. Owners otherwise interested in selling are more reluctant to do so for fear of trading existing mortgages with comparatively lower rates for new mortgages with higher rates.
The Federal Reserve Open Market Committee reduced a key short-term interest rate by a half point, which should accelerate real estate activity, Perry says.
For August, 370 real estate transactions worth a total of $163 million were reported in Mesa County. Compared to the same month a year ago, transactions increased 4.5 percent and dollar volume decreased 4.6 percent. Through the first eight months of 2024, 2,530 transactions
FOR YOUR INFORMATION
Nathan Perry’s latest economic update for Mesa County is available online by logging on to https://www.coloradomesa.edu/business/ economic-newsletter.html.
worth a total of more than $1.2 billion were reported. Compared to the same span in 2023, transactions decreased 2.3 percent and dollar volume rose 4.5 percent.
Home prices continue to increase, Perry says, with the median sales price rising almost 5.7 percent to $428,317 from the second quarter of 2023 to the second quarter of 2022.
The median price of homes sold in August was lower at $387,000. The median price of homes sold through the first eight months of 2024 was $396,000.
Perry says he was encouraged building permits for the construction of single-family homes have started to increase in Mesa County after nearly two years of declines. Total building permits remain at a historically high level, he says, but reflect the construction of multi-family housing.
Several standard of living measures have increased, Perry says, although the information lags.
The median household income in Mesa County rose from $63,531 in 2021 to $69,578 in 2022. Personal per capita income, a calculation of all personal income in the county divided by the population, rose from $53,192 in 2021 to $54,654 in 2022.
The proportion of the Mesa County population below the poverty level edged up a tenth of a point between 2021 to 2022, but remained at 10.7 percent.
Perry also included in his latest economic update an evaluation of industrial diversification in Mesa County.
According to one index, the industrial composition of Mesa County has moved closer to that of Colorado as the health care sector has grown and oil and natural gas exploration and production has declined. A separate index reflects an increase in the concentration in health care jobs.
Looking ahead, Perry estimates the probability of a so-called soft landing — a slowdown in economic growth resulting from efforts to curb inflation, but without a recession — at about 50 percent. He pegs the likelihood of a mild recession at 35 percent, while there’s a 15 percent chance the United States will enjoy more robust economic conditions.
Uncertainty before and after the presidential election in November could cause some volatility, but Perry says he doesn’t expect a severe recession.
Colorado forecast calls for return to typical conditions
After several quarters of growth in which wages and income in Colorado outpaced the United States, the state economy will return to more typical levels and produce a tighter fiscal environment, according to the latest forecast from the Governor’s Office of State Planning and Budgeting.
“Here in Colorado we continue working to save Coloradans money and drive economic growth. And we know that in the coming year we are facing a more typical, tighter budget environment as inflation comes down,” said Colorado Gov. Jared Polis. “I’m committed to continue delivering results for Coloradans and saving people money, while delivering a responsible, balanced budget that ensures a strong fiscal future for our state.”
Inflation continues to cool in the United States and Colorado, with Colorado inflation falling faster than the U.S. Falling inflation combined with slowing labor market growth and a slight increase in unemployment, prompted the first Federal Reserve interest rate cut in four years. More cuts are expected in coming months. Coloradans will save money on credit card bills and purchasing homes. Investments in construction likely will increase.
While the economic forecast shows lower inflation, lower rates will reduce the allowable increase under a formula limiting how much tax collections the state government can keep.
For the 2023-2024 fiscal year, refunds under the so-called Taxpayers Bill of Rights limits in the state constitution are estimated to at nearly $1.7 billion, a $219.5 million upward revision from June,.
Preliminary general fund revenue came in $85.9 million below the June forecast, largely a result of stronger than anticipated individual income refunds. Estimates for general fund revenues for the next two fiscal years were revised down $210.5 million and $502.0 million respectively, due to revisions in aggregate wages and salaries and consumer demand for retail that impact individual income and sales tax revenue.
Veterans in Business plan monthly muster
The Fruita Area Chamber of Commerce Veterans in Business has scheduled its next monthly muster for Oct. 9.
The event is set for 5:30 to 7 p.m. at the Ale House, located 2531 N. 12th St. in Grand Junction. Members may attend at no charge other than to pay for their food and drinks.
Tony Lee, the Mesa County veterans services officer, will attend to provide information about sources and fostering connections among veterans and veteranowned businesses.
Lee will discuss resources and support available to veterans in business, ways to strengthen connections in the community and gain support from others who understand challenges and aspirations and opportunities for business and professional growth.
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Hall acknowledged he knew nothing about the newspaper business at the time, but brought to his career change experience working for high-end retailers, including one of the top men’s clothing stores in the country. “I knew about products and I knew about selling.”
Hall said he also knew he wanted to offer a high-quality product in the Business Times. The newspaper was among the first in the Grand Valley to switch to full-color production on premium paper.
He also transformed what was a monthly lifestyle and entertainment publication produced with newsprint into a glossy magazine that at one point was mailed to more than 12,000 people. He produced additional publications for local chambers of commerce, the Home and Building Association of Western Colorado and Grand Junction Symphony.
Originally a monthly publication, Hall switched the Business Times to weekly publication for five years before switching again to the twice-monthly schedule that’s continued for 16 years.
While they were initially successful, Hall said changing conditions compelled him to stop producing the additional publications and focus his efforts on the Business Times.
The terrorist attacks in 2001 and financial crisis in 2008 caused uncertainty that in turn hindered advertising sales, he said. The onset of the COVID-19 pandemic in the United States in early 2022 was even worse, he said. By his estimate, 80 percent of advertising vanished overnight
Hall said he enrolled in a U.S. Small Business Administration program to help with payroll and also received a grant. In addition, he offered buy-one, get-one deals for short-term advertising contracts. The effort was intended in part to help businesses survive in the early days of the pandemic. But advertisers also reciprocated to help the newspaper remain in business, he said.
Hall said he cherishes the personal relationships he’s developed with advertisers. “I can call people and get them on the phone. They’ll pick up the phone or call back.”
Hall said those advertisements help businesses promote their brands as well as top-of-mind awareness. Customers might not immediately respond to an ad.
But when the need arises for a service or product, they’ll remember the businesses offering them.
Hall said he’s turned down advertising when the fit isn’t right or businesses might fare better with radio, television or direct mail advertising.
In addition to selling advertising, Hall writes twice-monthly opinion columns that address what he deems problems in a direct and conversational style. “I think I have a knack for getting to the gist of something.”
Hall said he’s isn’t afraid of the controversy his columns sometimes provoke. “If I think you’re doing wrong, you’re gonna read about, the same as if I think you’re doing right.”
He said he hopes readers respect him for his willingness to take positions on issues — and respect the Business Times for telling good stories about good people doing good things.
After 30 years in operation, that won’t change, he said. Neither will his efforts to improve the product he sells. “I’m not a believer in perfection. I’m a believer in perfecting.”
Hall said he’s had to endure a lot of challenges over the past 24 years — and doubted at the time the decisions he made. But most of those decisions turned out well, and Hall said he’s grateful to continue to live and work in the Grand Valley and be a part of the community. “It’s been a real pleasure. It’s been an honor. It’s been nice to make a living doing that.”
Craig Hall, owner and publisher of the Business Times, works in his office in Grand Junction. Hall said the twice-monthly journal offers a product advertisers and readers not only need, but also want. (Business Times photo by Phil Castle)
Trends
INDICATORS AT A GLANCE
n Business filings
t New business filings in Colorado, 45,150 in the first quarter, down 19.2% from the first quarter of 2023.
n Confidence
t Consumer Confidence Index in 98.7 in September, down 6.9.
t Leeds Business Confidence Index for Colorado, 50.6 for the third quarter, down 3.1.
t National Federation of Independent Business Small Business Optimism Index 91.2 for August, down 2.5.
n Foreclosures
t Foreclosure filings in Mesa County, 10 in August, down from 17 in August 2023.
t Foreclosure sales in Mesa County, 2 in August, down from 3 in August 2023.
n Indexes
s Conference Board Employment Trends Index, 109.04 for August, up 0.33.
t Conference Board Leading Economic Index 100.2 for August, down 0.2%.
s Institute for Supply Management Purchasing Managers Index for manufacturing, 47.2% for August, up 0.4%.
s Institute for Supply Management Purchasing Managers Index for services, 51.5% for August, up 0.1%.
n Real estate
s Real estate transactions in Mesa County, 370 in August, up 4.5 percent from August 2023.
t Dollar volume of real estate transactions in Mesa County, $163 million in August, down 4.6% from August 2023.
n Sales
s Sales and use tax collections in Mesa County, $4.7 million for August, up 2.7% from August 2023.
n Unemployment
t Mesa County — 4.4% for August, down 0.2.
t Grand Junction — 4.7% for August, down 0.1.
s Colorado — 4.0% for August, up 0.1.
t United States — 4.2% for August, down 0.1.
Local jobless rates retreat
Unemployment rates decline in Mesa County and Grand Junction
Phil Castle The Business Times
The unemployment rate retreated in Mesa County in August following three consecutive months of gains. The jobless rate also edged down in Grand Junction.
AREA JOBLESS RATES
Aug. July
n Delta County 4.3 4.3
Contributors Opinion Business Briefs Business People
The seasonally unadjusted jobless rate for Mesa County fell two-tenths of a point to 4.4 percent. The unemployment rate slipped a tenth of a point to 4.7 percent in Grand Junction, according to the latest estimates from the Colorado Department of Labor and Employment.
Between July and August, Mesa County payrolls increased 624 to 73,911 even as the number of people counted among those unsuccessfully looking for work decreased 91 to 3,417. The labor force, which includes the employed and unemployed, grew 577 to 77,328.
In Grand Junction, payrolls edged up 252 to 29,793. The ranks of the unemployed slipped 34 to 1,470. The labor force edged up 218 to 31,263.
For Mesa County, monthly unemployment rates so far in 2024 have ranged from a high of 4.7 percent in February to a low of 3.6 percent in April. Three months of gains pushed the jobless rate to 4.6 percent in July.
September labor estimates are set for publication Oct. 18.
For August, the jobless rate also retreated in two neighboring western Colorado counties: two tenths of a point to 4.3 percent in Rio Blanco County and a tenth of a point to 4 percent in Montrose County. The unemployment rate increased two-tenths of a point to 3.6 percent in Garfield County and held steady at 4.3 percent in Delta County.
The statewide seasonally adjusted unemployment rate edged
up a tenth of a point to 4 percent, the first time the state rate reached that level since January 2022. Nonfarm payrolls increased 7,400 between July and August. The unemployment rate and nonfarm payrolls are estimated using separate surveys of households and businesses, respectively. According to the latest results of the household survey, the number of employed people in Colorado grew 2,000 between July and August to more than 3.1 million. But the number of unemployed people increased 2,200 to 128,500.
The statewide labor force increased 4,100 to top 3.2 million. The labor force participation rate — the proportion of people working or looking for work — remained unchanged for a third consecutive month at 67.9 percent.
According to the latest results of the business survey, nonfarm payrolls grew 7,400 between July and August to nearly 3 million. Private sector payrolls increased 7,700, while government payrolls decreased 300. Employment increased 2,900 in professional and business services, 2,800 in educational and health services and 1,300 in construction.
The initial estimate for payroll gains in July were revised downward 4,000 to 800.
Over the past year, nonfarm payrolls increased 41,900. Employment increased 11,100 in educational and health services, 5,400 in professional and business services and 5,300 in leisure and hospitality. Payrolls declined 2,800 in the information sector and 2,400 in construction.
The average workweek for employees on private, nonfarm payrolls held steady over the past year at 33.3 hours. Average hourly earnings increased $2.04 to $37.80. F
Consumer Confidence Index drops
A monthly measure of consumer confidence dropped in September on less upbeat assessments of business and labor conditions.
The Conference Board reported its Consumer Confidence Index fell 6.9 points to 98.7. The monthly decline was the largest since August 2021.
Components of the index tracking current conditions and short-term expectations both decreased.
“Consumers’ assessments of current business conditions turned negative, while views of the current labor market situation softened further,” said Dana Peterson, chief economist at the Conference Board. “Consumers were also more pessimistic about future labor market conditions and less positive about future business conditions and future income.”
The Conference Board, a think tank based in New York, bases the Consumer Confidence Index on the results of monthly household surveys. Economists monitor the index because consumer spending accounts for more than two-thirds of economic activity in the United States.
“The deterioration across the index’s main components likely reflected consumers’ concerns about the labor market and reactions to fewer hours, slower payroll increases, fewer job openings — even if the labor market remains quite healthy with low unemployment, few layoffs and elevated wages,” Peterson said.
The proportion of consumers anticipating a recession over the next year remained low, she said. But there was a slight uptick in the
share of consumers who believed the U.S. economy was already in recession
The proportion of consumers expecting higher interest rates over the next year dropped for a fourth consecutive month to 46.5 percent. That’s the lowest level since February.
Less upbeat assessments of current conditions pulled down the present situation component of the index 10.3 points to 124.3.
The proportion of consumers responding to the survey upon which the September index was based who called business conditions good fell 2.3 points to 18.8 percent. The share of those who said conditions were bad increased 2.9 points to 20.2 percent.
The proportion of consumers who said jobs were plentiful declined 1.8 points to 30.9 percent. The share of those who said jobs were hard to get advanced 1.5 points to 18.3 percent.
Consumers also were less optimistic in their short-term outlooks, pulling down the expectations component of the index 4.6 points to 81.7. The index has remained above 80 for three months. Readings below 80 typically signal an impending recession.
The share of consumers who expected business conditions to improve over the next six months retreated six-tenths of a point to 18.5 percent. The proportion of those who expected worsening conditions climbed 2.1 points to 16.6 percent.
The share of consumers who expected more jobs to become available in coming months edged up a tenth of a point to 16.4 percent. But the proportion of those expecting fewer jobs increased more — 1.3 points to 18.3 percent.
While 18 percent of consumers expected their incomes to increase, 13 percent anticipated decreases.
Dana Peterson
Rural index slumps to four-year low
An index tracking the rural economy in Colorado and nine other states retreated to its lowest level in more than four years.
The overall reading for the Rural Mainstreet Index fell 3.4 points between August and September to 37.5. That’s the lowest level since the onset of the COVID-19 pandemic in the United States in early 2020 and well below growth-neutral 50.
The overall reading for Colorado jumped 10.5 points to 61.6, by far the highest level among the 10 states.
Ernie Goss
Ernie Goss — an economics professor at Creighton University in Omaha, Neb., who compiles the index — attributed the 10-state index decline to a combination of factors.
“Weak agriculture commodity prices, sinking agriculture equipment sales and elevated input costs pushed the overall reading below growth-neutral for the 13th straight month.”
Goss bases the index on the results of monthly surveys of bank executives in rural areas of the 10-state region dependent on the agriculture and energy sectors.
In Colorado, the farm and ranch land price index for the state rose 8.8 points to 60 while the new hiring index jumped 13.1 points to 63.3.
According to separate information from the International Trade Association, year-to-date exports of agricultural goods and livestock from Colorado in 2024 were up $152.7 million — more than 200 percent — from the same period in 2023.
Across the 10-state region, a component of the index tracking banker confidence fell 4.4 points to 22.9, the lowest level since November and an indication of increased pessimism about economic growth over the next six months.
A new hiring index dropped two points to 43.5.
After rebounding 26.7 points between July and August, the home sales index fell 6.2 points between August and September to 43.8. The retail sales index retreated 8.4 points to 30.4, the lowest level since June 2020.
The farm and ranch land price index decreased 1.7 points to 43.8. The farm equipment sales index increased 2.3 points to 19, but remained below growth neutral 50 for a 14th consecutive month.
Leading index signals slowing in U.S. growth
A monthly index forecasting economic conditions in the United States continues to retreat — signaling slower growth in the months ahead.
The Conference Board reported its Leading Economic Index (LEI) decreased two-tenths of a percent to 100.2 in August. A separate measure of current conditions increased. A measure of past conditions held steady.
Justyna Zabinska-La Monica, senior manager of business cycle indicators at the Conference Board, said the LEI has declined six straight months — a total of 2.3 percent over that span. Weaknesses among the leading indicators remain widespread.
“Overall, the LEI continued to signal headwinds to economic growth ahead,” Zabinska-La Monica said.
The Conference Board forecast growth in gross domestic product, the broad measure of goods and services produced in the country, to lose momentum in the second half of the year as higher prices, interest rates and debt erode domestic demand.
Lower interest rates should support stronger economic activity in 2025, however. On Sept. 18, the Federal Reserve Open Market Committee cut its key shortterm interest rate a half point to a range between 4.75 percent and 5 percent.
For August, six of 10 indicators of the LEI increased, including average weekly manufacturing hours, building permits, a leading credit index and new orders for both consumer and capital goods. A decrease in average weekly claims for unemployment benefits bolstered the index. Consumer expectations for business conditions, the interest rate spread, a new orders index and stock prices all declined.
The Coincident Economic Index rose three-tenths of a point to 112.7. The index increased eight-tenths of a percent over the past six months.
For August, all four indicators of the index advanced — industrial production, nonfarm payrolls, personal income and sales.
The Lagging Economic Index remained unchanged at 119.5, holding steady over the past three months.
For August, only one of seven components of the index advanced — inventories. Four components retreated, including changes in the cost of labor and services as well as commercial and industrial financing. An increase in the average duration of unemployment also pulled down the index. Consumer credit and the average prime rate charged by banks held steady.
J. ZabinskaLa Monica
COMING ATTRACTIONS
n The Business Incubator Center in Grand Junction has scheduled presentations on startups, grant writing, marketing and bookkeeping.
The next startup workshop is set for 2 to 3:30 p.m. Oct. 3 at the center, 2591 Legacy Way. Admission is $55.
A grant writing workshop for businesses and nonprofits is set for 8 a.m. to 1 p.m. Oct. 8. Admission is $75, which includes lunch.
A class on power marketing strategies for entrepreneurs is set for 6 to 7:30 p.m. Oct. 8, 15 and 22. Admission is $90.
A bookkeeping bootcamp is set for 9 a.m. to 2 p.m. Oct. 10. Admission is $75, which includes lunch.
To register for or obtain more information about presentations, programs and other resources at the Business Incubator Center, visit https://gjincubator.org or call (970) 243-5242.
n The Mesa County Women’s Network has scheduled its next workshop for 6 p.m. Oct. 8 at Abstract & Title Co. of Mesa County, 2464 Patterson Road in Grand Junction. Members may attend at no additional charge. Guests pay $35. To register or obtain more information, log on to www.mcwn.us.
n The Western Colorado Human Resource Association has scheduled its next monthly meeting for 11:30 a.m. to 1 p.m. Oct. 15 at the Mesa County Workforce Center, located at 512 29 1/2 Road in Grand Junction. Members attend at no additional charge. Guests pay $20. To register or obtain more information, visit www.wchra.org.
Civility in the workplace
Here are five steps to foster a more successful work environment
Johnny C. Taylor Jr., chief executive officer of the Society for Human Resource Management (SHRM), describes what he considers a society in crisis and one solution. “The world is brimming with diverse opinions and perspectives … . We won’t agree on everything. That’s why civility has never been more paramount.”
Opinion Business Briefs
Business People Almanac
Civility is more than just politeness. It’s a cornerstone of workplace culture, essential for enabling people and businesses to thrive. Civility fosters respect, empathy and the productive exchange of ideas — qualities critical for organizational success.
SHRM research has found a lack of civility in the workplace leads to decreased job satisfaction, reduced innovation, higher turnover and increased costs associated with recruiting and training new employees. Conversely, when employees feel respected and valued, they’re more likely to engage, collaborate and contribute to the organization. SHRM advocates for civility as a foundational element of workplace culture, emphasizing everyone has a role to play.
In support of SHRM’s 1 million civil conversations initiative launched this year, here are five steps to promote civility in the workplace based on the SHRM civility starter kit:
n Educate yourself. Leaders and managers must understand the state of civility in workplaces and society. According to the SHRM Civility Index, incivility is prevalent, with significant consequences for businesses, including lowered employee morale and higher turnover rates. A crucial component of this step is building psychological safety within teams. For civil conversations to be effective, employees must feel safe to share their thoughts without fear of judgment or retribution. Leaders should be patient as they work to create this environment, recognizing it takes time and consistent effort.
n Establish a shared understanding of civility. Creating a civil workplace starts with a shared understanding of what civility means. SHRM stresses the importance of establishing a shared mental model among team members, ensuring everyone has a consistent understanding of what constitutes civil and uncivil behavior. Leaders should encourage team members to share their perspectives on civility. Discussions about these views identify common ground and areas of disagreement. To reinforce these discussions, use the SHRM Civility Index, which provides data-driven insights into the significance of civility in the workplace. By the end of these discussions, teams should have a collective understanding of civility that guides interactions.
n Establish and foster team norms for mutual respect. Once
a shared understanding of civility is established, the next step is to develop clear norms for mutual respect. Involve team members in the process to ensure buy-in and accountability. Norms should outline specific behaviors expected from everyone, such as active listening without interruption and discussions based on facts. Establishing procedures for addressing incivility is also critical. Create mechanisms for reporting, addressing and resolving conflicts. Leaders should model these norms consistently, reinforcing their importance and ensuring they become ingrained in workplace culture.
n Promote a culture of civility. This requires a concerted effort from both leaders and team members. Civility should be embedded in organizational culture and reflected in the behaviors of team members. Leaders must model respectful behavior and apply the same standards of civility to everyone. Regular check-ins and progress meetings maintain this culture by providing opportunities for team members to discuss challenges and successes. By promoting civility consistently, organizations create an environment where respectful communication and collaboration are norms.
n Become a catalyst for civility. Fostering civility is an ongoing process that requires continuous effort and reinforcement. SHRM provides tools to help leaders maintain momentum, including a free, web-based tool for facilitating civil dialogue within teams. HR professionals can also turn to resources like the Western Colorado Human Resources Association for support. The WCHRA offers guidance and best practices for cultivating civility in the workplace, providing HR professionals with tools and knowledge to address challenges. By leveraging SHRM and WCHRA resources, leaders create and sustain cultures of civility. Civility is a vital component of a healthy workplace culture. By following the steps outlined in the SHRM civility starter kit, leaders and managers can transform difficult conversations into opportunities for growth and turn conflicts into collaborations. With the support of organizations like SHRM and the WCHRA, HR professionals can equip their teams with the skills to maintain civility, ensuring respectful and productive work environments. Ultimately, fostering civility isn’t just a leadership responsibility. It’s a collective commitment that benefits everyone in an organization.
Jenny Yeager, a certified human resource professional, is an administrative liaison with Insight Financial Solutions in Grand Junction and a board member of the Western Colorado Human Resource Association. For additional information, visit the website at https://wchra.org.
Jenny Yeager
Create balance and avoid end-of-life regret
In reflecting on my youngest daughter’s high school graduation, I remembered the excitement in the eyes of the 240 young people dressed in caps and gowns. Some were ready for school to be over while others looked forward to the next phases of their educations.
Whatever path those young people choose, some will become consumed by work and business. Others will strike a balance between life and work either intentionally or accidentally. This second group likely will experience more happiness and success throughout their lives and less regret as well. Perhaps the changing demands of this younger generation reflect this.
The No. 2 regret of people at the end of their life: “I wish I hadn’t worked so much.”
Given all the things people could regret looking back at the lives they lived, this is an extraordinarily powerful and telling statement. This potential reality from the end of life points to the wisdom in taking a different and more mindful approach to work and business no matter your age.
The people who expressed this deep-seated regret acknowledged spending too much time on the treadmill of work while sacrificing valuable time with their spouses, children, extended family, friends and even themselves. They also allowed their dreams and adventures outside of success to pass them by. The profound truth is these moments and experiences, once gone, can never be recaptured. There’s a common mantra in business about making as much money as possible and achieving success at all costs. There’s no doubt being as profitable as you can and
The thought of becoming wildly successful financially — and the accolades, praise and recognition that come with it — can be addicting because it feeds the ego. As with any addiction, it can take over, blinding us to the bigger picture of life and all it offers.
standing tall above your competitors is a primary aim in business. The question is: At what cost?
A business owner who focuses on making as much money as possible typically believes their team members should have the same focus. By forgetting these people also have lives, hopes, dreams and desires, owners demand more and more from them. The reason is simple: When the focus is solely on success and the accumulation of wealth, people and their happiness and well-being are discounted and forgotten.
The thought of becoming wildly successful financially — and the accolades, praise and recognition that come with it — can be addicting because it feeds the ego. As with any addiction, it can take over, blinding us to the bigger picture of life and all it offers. When this happens, it creates a situation where we’re out of balance, ultimately limiting the very happiness and success for which we strive.
One aspect of my work with business owners is to help them see the bigger picture — to discover what they value and whether what they sacrifice in their pursuit of success is acceptable to them.
Once my clients develop skills in balancing life and work, they begin making different choices in how they
allocate their time. Through this fundamental change, they come to experience a more profound form of success — one that still includes financial gain, often more than ever before, but is no longer a driving force in their lives. In turn, there’s a trickle-down effect on their team members as their life and work balance is encouraged and supported. It’s important to understand that once your children are grown, your youth has faded and your health has deteriorated, the dreams you abandoned in the pursuit of success and money can’t be realized. That time has passed forever. We all know people who worked their whole lives to make enough money to travel and enjoy the many pleasures of life only to discover that by the time they “arrived,” they were unable to do so because they waited too long.
Your life is happening right now. There’s room within it for everything you desire — including making money, but also enjoying the multitude of other things that bring you pleasure and happiness.
Once you’re mindful about life and work and possess the skills to strike a balance, you won’t have to work so hard to experience the happiness and success you desire. And at the end of your life, you won’t regret having worked too much.
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 (970) 208-3150, marcus@ligcoaching.com or through the website located at www.ligcoaching.com.
Marcus Straub
Planning key to retirement transition
What does it take to create a successful retirement plan and put it into place? Planning is essential. Employees must understand health insurance benefits and limitations, how to transfer 401(k) funds to a personal Individual Retirement Account (IRA) and the procedures for collecting benefits from company sponsored retirement plans. Employers must comply with laws when coordination of benefits takes place between Medicare and employer-sponsored health insurance plans. There are several situations to consider.
First, will the retiring employee be eligible for Medicare? If so, then under most circumstances, that employee will leave your company sponsored plan. It might be possible for the retiring employee to continue with the company plan under the Consolidated Omnibus Benefits Reconciliation Act — https://www. dol.gov/general/topic/health-plans/cobra — or another option called continuation.
Second, will the employee continue to work for your company for some period after becoming eligible for Medicare? In this situation, you will have to deal with coordination of benefits between two or more payers — Medicare and your company health insurance provider, for example, Generally, company insurance pays first and Medicare covers any additional eligible costs. Employers have been known to offer Medicare-eligible employees a cash incentive to get the employee to drop out of the company sponsored insurance plan. This might or might not be legal. Always consult appropriate legal, benefits or other advisors. Visit the Medicare website located at https://www.medicare.gov/publications/02179-how-medicareworks-with-other-insurance.pdf.
Finally, even if the soon-to-be retiring employee stays on the company insurance plan, they need to enroll in Medicare during the months just before or just after their 65th birthday or risk additional costs or difficulty obtaining some or all of their
Medicare, Medicare Supplement, Medicare Advantage and prescription drug plan coverages.
The retiring employee’s 401(k) or similar plan can usually be transferred from the company plan to the employee’s IRA. Your plan management personnel should provide the employee with instructions on how to perform this transfer and any important considerations should the employee choose to leave the 401(k) with the employer’s plan.
For many employees, their 401(k) investment is one of their largest sources of retirement income. Many 401(k) advisors will conduct an information session about the many considerations for transferring and accessing these funds, including explaining current investments. Using this service could reduce your risk of violating fiduciary requirements while providing a valuable benefit to employees. Consult appropriate legal, benefits and other advisors.
Your company could be one of the few smaller businesses that provide a defined benefit or defined contribution plan. For most employees, the features and limitations of these plans remain a mystery. Explaining how to access these funds and what the options are — continuing payments to a spouse in the event the employee dies first, for example — offers a valuable service to help retiring employees.
Retirement is an exciting, but intimidating, time for many people. Most employees know little about the planning process. Bringing in your company’s legal, benefits and other advisors to explain the process offers a tremendous service.
Author’s note: This is my final column for the Business Times. It’s retirement time. I wish everyone continued success.
Janet Arrowood is founder and managing director of the Write Source, a Grand Junction firm offering a range of services, including grant and proposal writing, instruction and technical writing. Reach her at janet.arrowood@thewritesourceinc.com. For more information, log on to www.TheWriteSourceInc.com.
Janet Arrowood
Grandma was right: Live below your means
Grandma would always tell us kids to save some money for a rainy day. Grandma was wise in many matters. Money was no exception.
Christopher West
Essentially, Grandma referred to the three foundational behaviors to building wealth: create excess cash flow by living below your means, embrace risk and put excess cash flow to work by investing and maintain a long-term mindset rather than a get rich quick outlook. Without these three behaviors, the wealth building journey leads over a bridge to nowhere.
Of course, the wealth building journey can take many twists and turns and involve various complexities — choosing among various investment vehicles, determining the types of investment accounts to set up, strategizing the payoff of a mortgage and crafting an estate plan. But at its core, the wealth journey begins and ends with the first foundational behavior — live below your means. Like a heartbeat, this behavior is the constant rhythm pumping lifeblood throughout the wealth building journey. Living below you means embodies the mindset of continuously telling yourself you’d rather be wealthy than look rich.
I’m inspired by the teachings of Arthur Brooks, a Harvard professor and author of the book “Build the Life You Want.” Brooks has a wonderful way of explaining the science of happiness, including what he contends are the three ingredients to happiness. The first ingredient is meaning, which implies acknowledging things happen for a reason and our lives matter. We’re all alive to do something purposeful. The second ingredient is enjoyment — finding pleasure in sharing experiences with people you care about and being actively present and engaged in those experiences. The third ingredient is satisfaction, which is what I would like to address in this column. More specifically, how satisfaction relates to the all-important wealth building behavior of living below your means.
Our brains have developed a natural evolved tendency to want to rise through the hierarchical tiers of society. This explains why all of us, me included, experience moments of consumption “flexing” when buying the fancier car or
At its core, the wealth journey begins and ends with this first foundational behavior. Living below your means embodies the mindset of continually telling yourself you’d rather be wealthy than look rich.
upgrading to the bigger hotel room.
Let’s apply some math to the discussion. Brooks proposes there are three formulas that explain both our impulses and the reason we can’t ever seem to achieve lasting satisfaction. The first formula: Satisfaction equals continually getting what you want. Of course, we always feel some brief moment of satisfaction when we get what we want, but the moment quickly fades. To regain satisfaction, we have to keep running and pushing to get what we want again and again and again. The second formula: Success equals continually having more than others. Yet, we realize continuously getting what we want, while providing some amount of satisfaction, doesn’t lead to success. Why? Because someone else is getting more. Our brains then derive the third formula: Failure equals having less. These three formulas adequately describe why it’s so hard to achieve lasting satisfaction.
How can we apply better math? Brooks proposes we throw out the previous three formulas and follow this one formula: Satisfaction equals what you have as a ratio of what you want. Stop and think about this and notice the difference from the previous formulas. It’s powerful to think about satisfaction as a fraction where the numerator is what you have and the denominator what you want. All of our human biology wants to focus on the numerator of our haves. However, this ignores the denominator of the equation. If we increase our haves without managing our wants, our wants will sprawl out of control and lower satisfaction. In our consumer-driven society, we’re constantly bombarded with marketing campaigns designed to make our wants explode without even realizing it.
Let’s tie this back into personal finance. Managing
our wants allows us to execute successfully on the key foundational behavior of living below our means. Please understand me correctly. I believe in the importance of living life with an abundant mindset versus approaching every money decision with a miser mentality. It all comes down to having balance and working the satisfaction formula by increasing our haves while remaining mindful about managing our wants.
There are only five things we can do with our money:
n Buy experiences. Spending money on a beach vacation with the family, for example.
n Buy time. Pay someone to mow your lawn and devote that time to doing something more meaningful.
n Give it away. Set up a scholarship fund with your alma mater, for instance.
n Save and invest. Contribute the maximum amount to your 401(k).
n Buy stuff. Go ahead and get that fifth Rolex.
The first four things on the list will bring satisfaction and a happier life. But our brains tell us to do the one thing on the list that won’t bring lasting satisfaction — buy stuff. Moreover, one of the biggest satisfaction generators involving money is the fourth thing on the list — save and invest. As humans, we’re designed to want to make progress. We enjoy satisfaction from making progress towards a goal versus actually achieiving the goal.
Grandma, we hear you. Controlling our wants allows us to live below our means and save and invest for a big, beautiful tomorrow. The result: Satisfaction on our wealth journey is increased.
Christopher West is chief executive officer and principal of DWC CPAs and Advisors and DWC Wealth Advisors based in Grand Junction. He’s a certified public accountant, Personal Financial Specialist and series 65 investment advisor representative with Global Retirement Partners, LLC. Investment advisory services are offered through Global Retirement Partners, LLC (GRP) dba DWC Wealth Advisors, an SEC registered investment advisor. GRP and DWC CPAs and Advisors are separate and unaffiliated entities. For more information about DWC CPAs and Advisors or DWC Wealth Advisors, call (970) 243-1921 or visit https://dwcadvisors.com. F
Adjust conversational style to become a better listener
Those first critical five to 10 words that come out of your mouth have significance. Becoming a better listener presents other challenges that leave us hearing only about 20 percent of what someone says.
Humans hear between 20,000 and 30,000 words during a 24-hour period. That’s a lot of words to retain in a given day. Our brains shelter us from unnecessary distractions while trying to lock in on those most important words at any given moment.
The typical person speaks around 125 to 175 words a minute. In a 30-minute lecture or discussion, 5,250 words are tossed our way. Of those 5,250 words, you only remember about 1,050 words. The words you remember depend on the manner in which you receive them. The Latin phrase for this phenomenon is quidquid recipitur ad modum recipientis recipitur. That translates to: Whatever is received is received according to the manner of the receiver.
You become a better listener by adjusting the manner in which you in engage in conversations. Some ways in which we can expand upon that 20 percent include:
We all can do better in setting aside our responses or judgments until we’re clear about what we’ve been asked. That’s if we’ve even been asked to respond or simply let the person vent.
n Remain fully present in the conversation. Put aside other distractions. Set your phone to airplane mode or leave the phone in another place. Divert your full attention to the person in front of you.
n Maintain eye contact. Not the creepy kind of looking into their soul kind of eye contact. Rather, notice their facial expressions. Look for hints of delight or sadness and match their expressions when appropriate.
n Notice and use nonverbal cues. Pay attention to your nonverbal cues. Things like crossing your arms can come across as being closed to what the other person says.
n Ask open-ended questions to encourage further responses. Sometimes people need to vent. It’s OK to ask at the beginning of a conversation whether the person expects answers or suggestions or simply wants to talk.
Trying to solve someone’s problems when they’re venting is called the righting reflex. It comes from a good place, but could close further channels of communication.
n Paraphrase and repeat what’s been said. This adds more clarity to what you’re hearing — as opposed to what they’re saying.
n Listen to understand rather than respond. We all can do better in setting aside our responses or judgments until we’re clear about what we’ve been asked. That’s if we’ve even been asked to respond or simply let the person vent.
n Increase self-awareness of listening skills. This is all about doing some work on ourselves and practicing to become better listeners.
Timothy Haggerty and his wife, Bernadette, operate a consulting firm based in Grand Junction that helps clients transition from command and control to servant leadership and change the view of wages and benefits from expenses to investments. Haggerty brings to the venture more than 40 years of experience in operations management and a record of decreasing costs while increasing productivity and revenue. He also serves as president-elect of the Grand Junction Kiwanis Club. Reach him at info@timothyhaggerty.com, (610) 737-0496 or www.timothyhaggerty.com F
Timothy Haggerty
New approaches to growth foster connections
We’re in a strange moment right now. As the world shifts so quickly, the way we’ve always understood economic progress feels like it’s fading into irrelevance.
The Industrial Age, the engine of growth for more than a century, seems behind us. Even the Information Age, once hailed as the future, feels like it’s lost its edge. Now we find ourselves in what some call the Connected Age, where the usual rules don’t apply. The success of a community isn’t about how big the factories are or how high the corporate ladder climbs. It’s about the strength of networks and keeping doors open to new ideas.
Entrepreneurship has always been at the heart of economic progress. For centuries, entrepreneurs have driven job growth, created industries and imagined the impossible. Young, innovative companies still push boundaries. New and young businesses are responsible for most net job creation.
But for all our talk about innovation, we’re missing something crucial. Despite the democratization of entrepreneurship, significant barriers remain. Innovation is more accessible than ever, but a lot of potential entrepreneurs are left behind because of structural hurdles.
In the United States, entrepreneurship rates have flattened for more than two decades. The COVID-19 pandemic didn’t just reveal cracks in the system, it widened them. Stagnant wages, slow productivity and rising
inequality connects to a system that hasn’t evolved to meet the challenges of the times. As a nation, we’re no longer cultivating the entrepreneurial spirit that once defined us.
The takeaway is simple. Traditional development models are outdated. Yes, we need to provide capital and training. But those alone won’t cut it. What we need even more than financial resources is social capital so trust, relationships and networks create opportunities for real collaboration.
Economist Israel Kirzner described entrepreneurship as discovery, the art of uncovering opportunities others overlooked. But discovery doesn’t occur in isolation. It requires an ecosystem that supports new ideas and allows them to take root. The communities that thrive in this new era are those that see entrepreneurship not as a solo endeavor, but a collective effort. It’s about building a culture that fosters innovation. That’s where the concept of ecosystem builders comes in.
These builders create spaces where entrepreneurship flourishes. They’re connectors, pulling together people and ideas across different sectors, fostering a culture where risk-taking is not just accepted, but encouraged. These builders aren’t in the spotlight, but they’re doing the hard work of creating conditions in which entrepreneurs succeed.
What does it look like in practice? It means creating environments where entrepreneurs aren’t just handed tools, but are embedded in networks of trust and support. It means building invisible infrastructures — relationships, culture and peer networks — just as essential to success as physical spaces or pools of capital.
It’s a fundamental shift in thinking. We’re not just
building companies anymore, we’re building ecosystems.
The entrepreneur Ewing Marion Kauffman put it perfectly: “All of the money in the world cannot solve problems unless we work together. And if we work together, there is no problem in the world that can stop us as we seek to develop people to their highest potential.” This is the essence of ecosystem building. It’s not just about solving problems. It’s about unlocking human potential.
The future of economic development lies in our ability to foster a culture of discovery and environments where entrepreneurs thrive. If we want resilient, futureproof communities, we must move away from the old model of disconnected silos and toward a new paradigm of connected networks.
The future remains bright, but only if we’re willing to rethink how we approach growth. Real growth that lasts doesn’t come from individuals working in isolation. It comes from communities working together, from networks that foster new ideas and create conditions for success.
Dalida Sassoon Bollig, chief executive officer of the Business Incubator Center in Grand Junction, is an experienced strategist with demonstrated work in international affairs. She brings to her duties experience in economic development, entrepreneurship, leadership, partnerships, public policy and trade. For additional information about programs and services offered at the center, call (970) 243-5232 or visit https://gjincubator.org. Reach Bollig by email at dbollig@gjincubator.org. F
Yoga helps to strike a balance with calm and positivity
Yoga is all about learning to balance life with calmness and positive thinking. Yoga, which means to join the body and mind, dates back more than 5,000 years and combines breathing, exercise and meditation.
Breathing techniques are taught on the concept breathing is the source of life in your body. Exercises apply pressure on glandular systems and promote health and well-being. By meditating, participants learn to quiet their minds and heal from the stresses of life.
There are more than 100 different schools of yoga. The most common type is Hatha yoga. This is an easy-to-learn form that combines physical movements and postures with breathing techniques.
Bikram yoga focuses on muscular strength and endurance, cardiovascular flexibility and weight loss. This type of yoga is performed in a 95-degree to 105-degree environment. This promotes flexibility, detoxification and prevention of injuries
Power yoga combines stretching, strength training and meditative breathing. Many of the poses resemble such basic calisthenics as pushups, handstands and side bends. The pace of this type of yoga is much faster. Each move flows into the next without pausing.
Although there are many more forms of yoga, these examples give you an idea of what’s available. Many instructors incorporate different forms into one class.
Most adults can practice yoga. Some advanced classes aren’t suitable for pregnant women or people with physical limitations from injuries. Always consult with your doctor before engaging in an exercise program.However, special classes incorporate yoga into workouts with modifications. Don’t hesitate to ask questions. Always listen to your body.
When taking your first yoga class, expect to enter a dim room with soft music playing. Wear comfortable clothing. Most people are barefoot. You’ll have a mat and such props as bands, blocks and blankets. Your instructor will tell you how and when to use these.
At the end of each yoga class, most teachers bring their hands together in front of the heart, bow their head and say “namaste.” Students bring their hands together
and respond. Namaste means “I bow to you.”
Yoga offers numerous benefits, including improved breathing, flexibility and posture. Some people might believe they’re too old or unfit for yoga. In truth, you’re never too old to improve flexibility. Yoga stretches not only your muscles, but also the soft tissues of your body, including ligaments and tendons. Nearly all poses build strength in the abdominal muscles. With improved core strength comes better posture. You’ll become more aware of your posture in daily activities. Most forms of yoga concentrate on breathing. Deepening or lengthening your breath stimulates relaxation. In addition, yoga improves concentration and mood. If you’re already a yogi, you understand. If you’re not, try yoga and see if you experience the amazing benefits you can attain from this form of exercise. Namaste.
Paula and Dale Reece own Crossroads Fitness Centers in Grand Junction with a downtown location at 225 N. Fifth St. and north location at 2768 Compass Drive. For more information, call (970) 242-8746 or visit the website at www.crossroadsfitness.com. F
Dalida Bollig
Paula Reece
The good, bad
and
ugly: Economic outlook mixed
Economic reports almost always offer a mix of good, bad and — unfortunately — sometimes downright ugly news. In detailing a range of statistical indicators, there’s something for everyone to love as well as hate.
A new year affords a new opportunity to meet local needs
Contributors Business Briefs Business People Almanac
The latest economic outlook report for Mesa County prepared by Nathan Perry, an economics professor at Colorado Mesa University, constitutes no exception to the rule. As Perry covers in an 18-page report stuffed with statistics, there are disconcerting and encouraging trends.
A new year almost always brings an opportunity for a fresh start and renewed ambition to do things better.
In business, that usually boils down to providing customers better products and services faster and at lower cost than competitors. Part of the process must include listening to customers to determine what they actually need and then meeting that need. After all, it does little good to offer the latest and greatest if nobody actually wants what you’re selling.
In a sit-down interview with the Business Times, Perry said the biggest takeaway from the last report is a slowdown in the Mesa County labor market. Between June of 2023 and June of 2024, employment estimates fell from 74,145 to 72,993. That was a bigger decline than occurred in other Western Slope counties, Perry said.
Using more recent estimates from the Colorado Department of Labor and Employment for August, the seasonally unadjusted unemployment rates actually slipped two-tenths of point to 4.4 percent in Mesa County and a tenth of a point to 4.7 percent in Grand Junction.
Perry said Mesa County was once isolated from trends affecting the national economy, but that’s no longer the case. So slowing in job growth that’s occurred across the United States also shows up in Mesa County as a result of uncertainty over business and economic conditions as well as declines in consumer spending.
Just like the businesses that belong to the group, the Grand Junction Area Chamber of Commerce invariably starts out the new year with a reassessment of the services and resources it provides and how well they match with members needs. Jeff Franklin, the new chairman of the chamber board of directors, personifies this approach in describing what he considers his role for the coming year: listen to members, determine their needs and then meet those needs. It’s a role with which Franklin is familiar as market president of Bank of Colorado.
The process will take on a more structured approach in what the chamber plans as the resumption of a program aptly called Listening to Business. Under the program, business owners participate in in-depth interviews to identify barriers to growth and other problems they encounter.
The new year offers a good time to join the proverbial club.
As an advertiser or reader, what do you need from the Business Times?
Meanwhile, higher interest rates on mortgages have curtailed real estate activity in making financing more expensive for homebuyers. Moreover, owners otherwise interested in selling are more reluctant to do so for fear of trading existing mortgages with comparatively lower rates for new mortgages with higher rates, Perry said. The Federal Reserve Open Market Committee recently reduced a key short-term interest rate by a half point, and further reductions could be coming. That should help accelerate real estate activity, he said.
Perry said he also was encouraged by an increase in building permits for single-family homes in Mesa County after several years of declines.
While business journals traditionally gather and report the relevant news to readers, communication isn’t necessarily a one-way street. That’s especially true as Web sites and e-mail make the dialogue more convenient than ever.
There’s other encouraging news in an increase in personal income and low poverty rates in Mesa County, although that information lags by several years.
Good publications don’t exist in a vacuum. They respond to the needs of advertisers and readers. They provide what’s needed.
So what do you need?
Moreover, migration is expected to continue to bolster the population of Mesa County. A population of 155,993 in 2020 is expected to reach 162,833 in 2025 and 174,827 in 2030.
Is there additional news coverage that would help keep you informed about local business developments? Are there features that would be interesting or useful? Is there advice that would make your jobs a little easier?
It’s equally important to ask what you don’t need. With limited time to produce content and limited space in which to publish it, would time and space be better devoted to something else?
Looking ahead, Perry believes the probability of a so-called soft economic landing — a slowdown in economic growth resulting from efforts to curb inflation, but without a recession — exceeds that of a mild recession, but also the likelihood more robust economic conditions will soon return.
What’s good? What isn’t? What’s needed? What isn’t?
Let us know. Send us an e-mail. Comment online on the Business Times Web site at www.thebusinesstimes.com. You could even write an old-fashioned letter to the editor if you’d like. Your feedback, both positive and negative, is valued and will be carefully considered.
Good publications are the result of not only the efforts of their staffs, but also collaborative efforts involving advertisers and readers.
With their mix of results, economic reports like Perry’s reinforce the importance of efforts to bolster the local economy regardless of the conditions and in good times and bad. That includes workforce development to not only fill the pipeline of candidates to fill job openings, but also match skills with what’s needed in the workforce. That includes efforts to attract new businesses to the area, but also assist existing businesses to survive and ultimately thrive. That also includes a clear and fair regulatory environment that makes it easier for businesses to start and operate.
Like any other good business, we want to listen to our customers, find out what they need and then meet those needs.
It’s a new year. Please help us to do so.
There’ll probably never be an economic report offering only good news. Here’s hoping, though, those reports includes more good news than they do bad and especially ugly news.
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
What’s in a random number? For this column, everything
Bold predictions for 2015 more like not-so-bold repeats
It’s that time of year when resolutions and prognostications abound. My favorite saying applied to New Year’s resolutions is in saying they’re basically a bunch of promises to break the first week of January. And while I won’t predict a whole lot, I can pretty much accurately nail a few things that without question will make the news. You will see these are pretty, well, predictable:
As you might have read on some random page in this issue — I don’t know where stories appear until the paper is printed — one random number 30 relates to the years in business the Business Times is celebrating. But this column isn’t about that.
No, this column is about the numbers Phil Castle made clear he didn’t want to publish a story about. For the first time in 24 years as owner and publisher, I sent an email to my editor demanding he publish a story. I even offered to do the interview and write the story.
Craig Hall
Frankly, he should be yelling it from the rooftops. He won’t. I will.
Craig Hall
Surprise: I’ve written news stories before. My life isn’t all about the intelligence, wit and sarcasm readers come to expect in my columns.
I told Phil it’s time to do a story on his 25 years with the Business Times — one more than yours truly has been at the paper. Phil being Phil decided the real story is the fact the Business Times has survived and thrived 30 years, 24 under my “direction.” The quotation marks are mine.
■ Prediction one: There will be some sort of weather event, natural disaster or heinous occurrence where someone will be interviewed and say the following: “I’ve never seen anything like that in my lifetime.” It’s as if this person is a required attendee at every news reporting event. While I understand most people’s perspective can indeed be limited by, or contained within, their own personal experiences, it is too much to ask to consult some historical perspective before saying such a thing? Yes, this response can apply to some events. But when it comes to weather and natural disasters, I’m pretty sure this is simply history repeating itself. Same as it has for millions and millions of years. More important, the planet made it! What didn’t were certain species. How’s that for perspective?
Phil being Phil said the reporter or editor is never part of the story — especially if the story is about him. That was in the back of my mind as Phil interviewed me for the story you can read in this issue. Given a story over the weekend in the local daily, I’m convinced more than ever Phil, as always, picked the right story to cover.
The one thing Phil can’t avoid for this edition is my column, which he has faithfully put into print for 24 years — even the ones the voice in my head asked “Do you really want to publish that?” As always, Phil did. Usually with a comment about how much he enjoyed it. But that’s Phil. Old reliable — unlike his computer at times in the midst of deadlines or with him waiting on yet another column on a Tuesday deadline morning from old unreliable. Me.
■ Prediction two: When it comes to a crime or something that occurs between humans, the other required attendee at all news reporting events is the person who says this: “They we’re just the nicest people, and in no way did I see something like this coming.” Exactly. No one does most of the time when it comes to neighbors and acquaintances. People should be surprised at what goes on from time to time in their neighborhoods, towns and with people they know because people are good. And for the times that they shouldn’t be shocked — like with politicians, repeat offenders and terrorists — where’s the interview that says, “This doesn’t surprise me in the least.”
As it’s been for 25 years for Phil, and 24 years since I inherited the best writer and editor on the Western Slope, it’ll all get done and the Business Times will be delivered by old unreliable on his Wednesday paper route. My first job and current, final — someday — job.
long run always hurt consumers. Another fact is that unemployment reaches a certain level based on the economy. And while the government might brag the number is low, it’s more than likely the government did something to cause that number being low — and not in a good way. Conversely, when business picks up, it’s because the people who need to buy widgets who were not buying widgets because the economy was contracting due to natural (or unnatural, government caused) reasons, decided we better buy some widgets. The government had nothing to do with this.
Here’s a random number: 734. That’s how many editions of the Business Times Phil has been editor of spanning 25 years. That doesn’t count the many newsprint and magazine editions of Life and Times, the first lifestyle publication in Grand Junction, he edited way back when or whatever else I asked him to help with over the years. Truth told, all those challenges Phil wrote about me going through in the story, I went through with Phil. The story behind the story: I never had to worry about what was going to be in the paper, whether it was going to be the highest quality or if it would be to press on time.
Now Phil might mention in his farewell how easy I made it for him to do what he loves. Truth is, that’s exactly what he made this gig as publisher for me. To never worry about content, deadlines or quality is a publisher’s dream. I never had to check on what Phil was doing. Although in a small business relationship I would consistently ask Phil how he was doing.
And what was Phil always doing? The thing he loved most outside of his family, true journalism. He was also writing a novel or two on the side, so please pick up one of his books once they are published — which I have no doubt will be soon. Phil has thanked me countless times for giving him the platform to do what he loves — another thing he got totally backwards in our relationship. But I digress.
■ Prediction four: In keeping with things the government does, I predict the government will manipulate the numbers to make the claim the economy is getting better because of how hard it is working to help all of us “working Americans.” Now you might say, “Craig, you always say this about President Obama because you don’t like him.” You’re right in a sense. I don’t know the man, but what I know of him and his thinking, I don’t like it or him one iota. Before you go off, however, I didn’t like President Bush and his bailouts, stimulus and his abandoning the free market to save the free market. And I don’t know him either. What the government does, and the only thing it can do, is hurt the economy. Unless it does nothing or put criminals in jail instead of partnering with them, nothing the government does will help. Always look at it this way, whatever the government says it is doing, whatever the name of the law it is passing, or whatever the name or goal of the bureaucracy it is presenting to the people, expect the polar opposite to occur.
■ Prediction three: Something good will happen economically, and the government will take credit for it. The most recent example is gas prices, where people ask me why I won’t credit the president for low gas prices. My answer is simple: Government never makes the price of something go down and simply takes credit for good news. Gas pricing is subject to many global factors. Now there are government answers to addressing some of them to keep prices stable for Americans, but our government has none of them in place. The only things it has in place in the
Because we’ve come to the real reason for this column. The story Phil won’t tell. While 25 years at the Business Times is indeed newsworthy in my book, so is retirement. And that’s the important piece to this piece. After more than 25 years at the Business Times, Phil Castle is retiring. Heck, he might even mention it in his column in his own, humble, professional way.
The Business Times you read today is all Phil Castle with a half page, Craig Hall rant on the side. Phil, you’ve done incredible work over 25 years in making the Business Times the pre-eminent newspaper in the Grand Valley. I can’t thank you enough for what you’ve done for the business community, the Grand Valley and me and my family during your tenure. I wish you the best and success in your next chapter. Spending time with your family — and this isn’t how a politician uses the excuse as Phil would joke, he means it — and continuing to follow your passions are gifts from above. I pray you enjoy it all to the fullest.
The Times is a-changing’ as they say. For the first time in my career, without Phil Castle. That’s OK. It’s been quite a journey with Phil in charge. An honor. A blessing. A pleasure.
Godspeed, Phil Castle, on your next adventure.
I guess what I’m saying is that perhaps it’s time to get out of our own perspective. There’s plenty of history books and historical research out there to begin to understand that all of this has happened before. And it will again, whether the topic is people or government. The best recommendation is to find some books or try that whole Google thing. There’s a lot of information on the Great Depression. The truth is it wasn’t even a good one until the government got involved. There’s also plenty of research on the medieval warm period when the planet was much warmer than today with a whole lot less people (and warmer well before man was here at all). And yep, people have been killing other surprised people since history was first written. Maybe some research will help stop all of these trends. Otherwise, we’ll be saying we’ve never seen anything like it in our lives. And not in a good way.
Craig Hall is owner and publisher of the Business Times. Reach him at (970) 424-5133 or publisher@thebusinesstimes.com.
Craig Hall is owner and publisher of the Business Times. Reach him at 424-5133 or publisher@thebusinesstimes.com.
Doorway to retirement: On the verge of change, some last words of truth
In a commencement speech to his daughter’s graduating class at Connecticut College, Alan Alda noted a familiar trait of human behavior. “People will talk for hours saying nothing much and then linger at the door with words that come with a rush from the heart,” the actor said. “Doorways, it seems, are where truth is told.”
Although Alda uttered those words more than 40 years ago, they stuck with me. They’re so apt. So poignant.
Now I’m lingering in a doorway myself, a transition between a lengthy tenure as editor of the Business Times and retirement. This issue — the 734th I’ve completed since January 1999 — will be my last. It’s time to tell some truths.
I’m 65 years old. Three score and five, as Abraham Lincoln might have put it. And I’m more than 25 years into my work as editor of this journal. That’s almost two-thirds of a 43-year career that began in 1981, when I graduated from Colorado State University with a shiny new degree in journalism. The very next day, I coaxed my rattletrap Fiat over Cameron Pass to start my first job at the Jackson County Star in Walden. I’ve been blessed beyond measure to work in print journalism ever since. With real print. And, I’d contend, real journalism.
But those kinds of big numbers indicate it’s time for a change. For me. Also, I suspect, for readers who might enjoy fresh approaches to stories and new voices to tell them.
Unlike politicians so frequently caught in scandals, I really do want to spend more time with family and loved ones. My youngest son here in the Grand Valley. My oldest son, his lovely and talented wife and their precious and precocious 2-year-old daughter — my granddaughter — in San Francisco. My father and two brothers in Kentucky. An aunt in eastern Colorado.
A remarkable woman every bit as kind and gracious as she is smart and accomplished beckons me to Palm Springs and the desert in Southern California. I cherish the Grand Valley and don’t intend to move. I do intend to seek higher mountains to climb and deeper oceans to plumb. Proverbial and literal.
I’m eager to devote more of my efforts to becoming what I always wanted to be when I grew up — a novelist. I’m looking for a literary agent and publisher who share my passion for two particular mysteries set in western Colorado featuring a newspaper journalist as sleuth. I expect a more concerted search to yield results.
Then there’s that other passion of
mine — scuba diving. The pioneering oceanographer Jacques Cousteau warned: “The sea, once it casts its spell, holds one in its net of wonder forever.” Count me among the happily captive. I hope to slip away from the landlocked Grand Valley more often for distant dive destinations.
If I remain truthful in my doorway, I won’t miss many aspects of my job. Chief among them the erosive toll of incessant deadlines. Every job comes with deadlines. But in the newspaper business, they never go away. The stress only varies in intensity. Sometimes merely bothersome. More frequently full-blown apocalyptic. What’s more, I won’t miss working every other weekend to meet those deadlines. Not one bit.
I’ll dearly miss the people with whom it’s been a pleasure and privilege to work.
The lengthy list begins with my boss, Craig Hall. He gave me unbridled freedom to cover business news the way I deemed fit. He never told me what stories to write. Or not to write, for that matter. What’s more, he helped maintain walls separating news, advertising and opinion that were never breached. Not once.
I’ve been fortunate to work with an amazing cadre of contributing columnists who share their time and talents with Business Times readers. Among them Janet Arrowood, Dalida Bollig, Sarah Gray, Timothy Haggerty, Dean Harris, Phyllis Hunsinger, Paula Reece, Marcus Straub and Jenny Yeager. That’s not to mention columnists with Bray & Co. Real Estate, DWC CPAs and Lighthouse HR Support.
I’ve been just as fortunate to work with Alowetta and Marc Terrien, who conjure the Business Times website out of Thin Air. And Kitty Nicholason, who builds many of the ads that appear in the paper.
I regret there are far too many news sources I worked with over the decades to name them all. I only hope they know who they are and how much I appreciated their assistance. Some deserve mention, though, for making my job easier, among them Robert Bray, Curtis Englehart, Darah Galvin, Nathan Perry and Annette Young. Media relations professionals helped as well, including Keira Bresnahan, Sonya Foster, Linde Marshall, Karen Martsoff, Dusti Reimer, Selena Sanchez and Sara Spaulding.
I’ll miss most the opportunity to talk to the innovative and courageous entrepreneurs who start and operate businesses in the Grand Valley. Then trust me to tell their remarkable stories.
Alan Alda offered another important observation in his address. One I hope I’ve confirmed. “Deep in our hearts, we know that the best things said come last.”
Until his retirement, Phil Castle worked 25 years as editor of the Business Times. Reach him at philcastle59@gmail.com.
Celebration spotlights efforts of Hispanic-owned businesses
Each year from Sept. 15 to Oct. 15, Americans celebrate National Hispanic Heritage Month as a time to recognize the many contributions, diverse cultures and extensive histories of the Hispanic and Latino communities in the United States. Hispanic founders, business owners and innovators drive in large part a small business boom under way in the U.S.
During Hispanic Heritage Month, the U.S. Small Business Administration (SBA) shines a spotlight on the incredible entrepreneurial spirit of this diverse community while also highlighting the SBA’s historic work to help more Hispanics than ever realize their American dreams of business ownership.
The Hispanic community is one of the most entrepreneurial groups in the nation. It lives in the dreams of those who’ve only just arrived here and in the legacy of families who’ve been here for centuries. Their faith and drive have pushed our country to grow, prosper and pursue its highest ideals.
Since 2021, our nation has seen the fastest creation rate of Latino-owned small businesses in more than a decade. According to recent studies, more than 73 percent of small business owners say their business has grown in the last year, with an even higher percentage of Latino owners — 80 percent — saying the same thing.
As the highest-ranking Latina on the president’s cabinet, SBA Administrator Isabella Casillas Guzman is committed to the success of Hispanic communities. More Hispanics than ever before seize opportunities to create new businesses that improve their neighborhoods and cities.
Last year, the SBA loaned a record $3 billion to Hispanic entrepreneurs and assisted Latino businesses access nearly $10 billion in federal contracts. Economic data shows that 5 million Latino-owned businesses contribute $800 billion annually to local economies. In Colorado, Hispanics own nearly 70,000 businesses employing thousands of workers and contributing millions of dollars to cities and towns.
Across my six-state region, the SBA regularly engages Latino organizations, including Hispanic chambers of commerce, minority supplier councils, workforce development boards and community based groups that support Hispanic business advocacy and outreach.
Early on, President Joe Biden directed the development of an ambitious, government-wide interagency plan to advance equity, justice and opportunity for minorities, veterans, women and rural communities. The SBA established four equity goals that focus on direct assistance, including increased access to capital for underserved communities; expanded use of federal contracts to boost minority, veteran and women-owned businesses; greater support and expanded access to disaster assistance; and increased availability of business counseling, training and services.
These equity goals add to legislative successes over the last several years — including the American Rescue Plan, the bipartisan Infrastructure Investment and Jobs Act and the Inflation Reduction Act of 2022 — that make urgent investments that will bring down costs, level the playing field and open historic opportunities for America’s 36 million small businesses and innovative startups. Especially those businesses located in underserved areas.
During National Hispanic Heritage Month, we carry on the important work of honoring Hispanic culture and entrepreneurship. Let’s give thanks to the many generations of Latino leaders who’ve helped build this country and continue to fight for equality and justice. Let’s also pledge to invest in the next generation of Hispanic entrepreneurs who hold the destiny of our nation in their hands.
Aikta Marcoulier serves as Region 8 administrator of the U.S. Small Business Administration. She oversees SBA programs and services in Colorado as well as Montana, North Dakota, South Dakota, Utah and Wyoming. For more information about the SBA, visit www.sba.gov or follow the federal agency on LinkedIn and Twitter @SBARockymtn. F
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The Business Times welcomes guest columns and letters to the editor on issues affecting businesses in western Colorado. Submissions should be emailed to publisher@thebusinesstimes.com and include names and telephone numbers for verification.
Phil Castle
Aikta Marcoulier
n COMMUNITY HOSPITAL RECOGNIZED FOR PATIENT CARE AND CHILDHOOD CENTER
Opinion Business Briefs Business People Almanac
Community Hospital in Grand Junction is included in the latest nationwide list of hospitals patients are most likely to recommend.
Community Hospital also was honored for opening an early childhood education center.
Becker’s Healthcare compiled the list using Hospital Consumer Assessment of Healthcare Providers Systems data from the Centers for Medicare and Medicaid Services. Only hospitals receiving five stars for patient recommendations made the Becker’s list.
“We recently received our five-star quality rating from CMS. And now to be once again recognized as one of the top recommended hospitals from Becker’s Healthcare exemplifies our commitment to providing outstanding care to our patients and our community,” said Chris Thomas, president and chief executive officer of Community Hospital.
Community Hospital also received the 2024 Early Childhood Champion Award from the Executives Partner to Invest in Children (EPIC). The award recognizes businesses and employees that demonstrate innovation and leadership in supporting children and working families.
Community Hospital was recognized for opening the Adventure Academy, an onsite early childhood education center that offers services to hospital employees as well as Mesa County residents.
“We know that a lack of available child care impacts health care, and we were honored to spearhead efforts to help minimize the lack of available child care in Mesa County,” said Tawny Espinoza, chief development officer at Community Hospital. “This project was a collaborative effort and we are extremely proud to have fostered a high-quality, affordable child care facility that our entire community can benefit from for years to come.”
Cassie Leyva, vice president of development and operations for EPIC, praised the effort. “Their commitment to creating a family friendly culture exemplifies the spirit of leadership that EPIC strives to cultivate within the private sector.”
For more information about Community Hospital, log on to YourCommunityHospital.com. For more information about the Adventure Academy, visit adventureacademygj.com.
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The Business Times welcomes submissions for free publication in Business Briefs. Email items to publisher@thebusinesstimes.com or submit a news release online at www.thebusinesstimes.com.
n EXPRESS EMPLOYMENT OFFERS PROGRAM TO HELP EMPLOYEES AND JOBSEEKERS
The Express Employment Professionals offices in Grand Junction and Montrose offers an educational program designed to help employees and jobseekers gain new skills.
“According to a recent survey from the Harris Poll, the majority of hiring decisionmakers say employees must continue to fresh hard and soft skills throughout their careers to compete with colleagues,” said Nina Anderson, owner and chief executive officer of the two offices. “We hear from many Western Slope companies that the lack of hard and soft skills are what’s making the hiring process harder.”
The ExpressLearn program offers more than 100 online, mobile-friendly courses in high-demand fields covering everything from accounting and business communications to customer service and software skills. The courses are available at no charge to those registered with Express Employment Professionals.
For more information about Express Employment Professionals and its staffing services and other resources, call (970) 242-4500 or visit https://www.expresspros.com/grandjunctionco.
n OCT. 15 WEBINAR TO OFFER INFORMATION ABOUT UNEMPLOYMENT CLAIMS PROCESS
A free webinar offering information about the unemployment claims process is scheduled for Oct. 15.
The Colorado HR Connection will offer the webinar from 11 a.m. to noon. Speakers will cover the unemployment claims process, including the Workforce Innovation Opportunity Act.
To register or obtain more information, contact Kelly Murphy at Lighthouse HR Support in Grand Junction at (970) 243-7789 or kelly@lhrs.net.
Grape expectations fulfilled in latest wine competition
Five Grand Valley wineries fared well in an annual competition to select the best wines to represent the Colorado wine industry.
A Bodega Dessert Wine and 2023 Teroldego produced by Sauvage Spectrum in Palisade were among the 14 wines selected for the 2024 Governor’s Cup Wine Collection. A 2023 Gewurztraiminer from Restoration Vineyards in Palisade, Sarge’s Sweet Red from the Peachfork in Palisade and 2023 Moscato from Whitewater Hills Vineyard in Grand Junction also were selected. Carboy Winery, which also has operations in Palisade, won with a 2021 Chambourcin.
Fifty-two Colorado wineries submitted a total of 302 wines for the 2024 competition. Colorado sommeliers and wine professionals joined wine experts and writers from across the country on a 15-member panel that selected the winners through a blind tasting. The panel included Jenne Baldwin-Eaton, founding director of the
Warren Winiarski and Gerald Ivancie Institute of Viticulture and Enology at Colorado Mesa University Tech in Grand Junction. The winner of the best of show award will be announced during the Colorado Uncorked event set for Nov. 1 at the History Colorado Center in Denver.
Kyle Schlachter, executive director of the Colorado Wine Industry Development Board, said the 14 winning wines showcase an array of styles and varieties. Most were made with grapes grown in the Grand Valley American Viticultural Area.
“Each year, the Governor’s Cup competition highlights the high quality and consistently greate taste of the wines produced in Colorado,” he said. “Any wine drinker can find something they love produced right here in our home state.” F
NOTEWORTHY
Two presenters will share their perspectives on financial literacy, good intentions and conquering fear during an upcoming conference for western Colorado high school students and teachers.
Howard Beatty and Tunji Adebayo are scheduled to lead presentations at the Western Slope Economic Leadership Conference in Grand Junction. The Freedom & Responsibility Education Enterprise (FREE) Foundation presents the annual conference as part of its efforts to promote financial literacy. High school juniors and seniors from across the region, along with their teachers, attend.
Registration is under way for the conference, set for 7:30 a.m. to 3 p.m. Nov. 5 at the University Center ballroom at Colorado Mesa University.
Beatty, a former energy industry executive turned discussion leader, will lead three sessions titled “What You Need to Know About Money Before You Are 20 Years Old,” “Are Good Intentions Enough?” and “I, Pencil.”
Beatty addresses such topics as capitalism, individual liberties and limited government.
Adebayo, a former science teacher who founded a holistic health company, will lead a session titled “Conquering Fear” as well as conclude the conference. His presentations help students develop the skills and attitudes they need to recognize their potential.
For more information about the FREE Foundation and conference, visit the website at www.free-dom.us.com.
Chris Thomas
Howard Beatty
Tunji Adebayo
Nina Anderson
Tawny Espinoza
Opinion Business Briefs Business People Almanac
Business Briefs Business People Almanac
n GRAND JUNCTION WOMAN APPOINTED TO COLORADO LOTTERY COMMISSION
Christian Reece of Grand Junction has been appointed to the Colorado Lottery Commission.
Reece serves as outreach and engagement regional manager for the University of Colorado.
Colorado Gov. Jared Polis appointed Reece to serve in an at-large position on the commission, which guides the operations of the Colorado Lottery and efforts to increase revenue to fund outdoor, recreation and conservation projects in the state.
“We are thrilled with the governor’s choice for our commission as Reece brings substantial experience to the role,” said Tom Seaver, director of the Colorado Lottery. “The lottery is fortunate to have her comprehensive experience to help oversee our organization, and this is the first time in at least recent history that the lottery commission has had representation from the Western Slope.”
Reece served for eight years as executive director of Club 20, a non-partisan political advocacy group representing 22 counties in western Colorado. Before that, she served as a field representative for U.S. Rep. Scott Tipton and worked for Habitat for Humanity Mesa County. Her volunteer activities included serving on the board of directors for St. Mary’s Regional Hospital and the Grand Junction Planning Commission.
Since 1983, the Colorado Lottery has returned more than $4.2 billion to projects to enhance and protect parks, trails and open space. For more information, visit coloradolottery.com.
n REAL ESTATE FIRM ANNOUNCES BEST-SELLING AGENT FOR AUGUST
Toni Heiden was honored as the top agent for August at Heiden Homes Realty in Grand Junction.
Heiden, the owner of the firm, posted the highest dollar volume in sales and most closed transactions for the month.
Heiden brings to her duties 46 years of experience in the western Colorado real estate market. The National Association of Realtors awarded her emeritus state in 2018. She also holds emeritus status as a Certified Residential Specialist. She serves on the Grand Junction Area Realtor Association multiple listing services committee and belongs to the Fruita, Grand Junction and Palisade chambers of commerce.
Heiden Homes Realty operates offices at 735 Rood Ave. For more information, including properties for sale and rent, visit www.heidenhomes.com.
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The Business Times welcomes submissions for free publication in Business People and the Almanac calendar of events. Submissions may be emailed to publisher@thebusinesstimes.com or submitted online to the website located at www.thebusinesstimes.com.
n GRAND JUNCTION ARMY VETERAN NAMED TO COLORADO 150 COMMISSION
Robin Brown of Grand Junction has been appointed to a commission that will plan observances of the 150th anniversary of Colorado statehood and 250th anniversary of the founding of the United States.
Colorado Gov. Jared Polis named Brown to the Colorado 150 Commission to represent the veteran community. The commission will plan the official observances in 2026 of the 150th anniversary of Colorado statehood and 250th anniversary of the founding of the United States.
Brown serves as vice president of development at Colorado Mesa University and chief executive officer of the CMU Foundation. She previously served as executive director of the Grand Junction Economic Partnership and co-director of the Downtown Grand Junction Business Improvement District. She served in the Army as a helicopter pilot and also commanded a company of pilots and crew.
n ENGINEER TO SHARE HIS STORY AT SCIENCE MUSEUM FUND-RAISER
An engineer inspired by a retired physicist turned mentor will share his story during an upcoming event in Grand Junction.
Ryan Patterson will speak at the annual dinner with a scientist fund-raiser set for 5:30 to 7:30 p.m. Oct. 15 at the Eureka! McConnell Science Museum at 1400 N. Seventh St.
Tickets sell for $75 for table seating and $45 for standing room. Discounted tickets for $25 are available for teachers. For tickets or additional information, visit the website at www.simpletix.com/e/changing-the-world-with-droneswith-ryan-p-tickets-181347.
Patterson met John McConnell, a retired physicist, while attending elementary school in the Grand Valley. Under McConnell’s mentorship, Patterson excelled in science fairs and earned scholarships and internships.
Today, Patterson works as a design engineer with Zipline International, a San Francisco area company working to deliver medical supplies and other products through drone deliveries.
Sept. 26
n Welcome Thursday Friends free networking lunch, noon to 1 p.m., Ale House, 2531 N. 12th St., Grand Junction. https://fruitachamber.org or 858-3894
n Young Professionals Network of Mesa County after hours event, 5:30 to 7 p.m., Sauvage Winery, 676 38 1/4 Road, Palisade. www.ypnmc.org
Oct. 3
n Fruita Area Chamber of Commerce women in business networking lunch, noon to 1 p.m., Karma Kitchen, 229 E. Aspen Ave. Members attend at no additional charge. Others pay $10. 858-3894 or https://fruitachamber.org
n Business startup workshop, 2 to 3:30 p.m., Business Incubator Center, 2591 Legacy Way, Grand Junction. Admission $55. 243-5242 or https://gjincubator.org
Oct. 8
n Grant writing workshop for businesses and nonprofits, 8 a.m. to 1 p.m., Business Incubator Center. Admission $79, which includes lunch. 243-5242 or https://gjincubator.org
n Class on power marketing strategies for entrepreneurs, 6 to 7:30 p.m. Oct. 8, 15 and 22, Business Incubator Center. Admission $90. 243-5242 or https://gjincubator.org
n Mesa County Women’s Network workshop on questioning thinking and improving listening, 6 p.m., Abstract & Title Co., 2464 Patterson Road, Grand Junction. Members attend at no additional charge. Guests pay $35.www.mcwn.us
Oct. 9
n Fruita and Palisade chambers of commerce free member only meeting with local government officials and candidates, 8 to 10 a.m., Timberline Bank, 649 Market St., Grand Junction. https://fruitachamber.org or www.palisadecoc.com
n Grand Junction Area Chamber of Commerce networking at noon, noon, Edgewater Brewery, 905 Struthers Ave. Admission $20 for members, $25 for others. https://ghchamber.org or 242-3214
n Fruita Area Chamber of Commerce veterans in business monthly muster, 5:30 to 7 p.m., Ale House. Members attend at no additional charge. https://fruitachamber.org or 858-3894 Upcoming
n Bookkeeping bootcamp, 9 a.m. to 2 p.m. Oct. 10, Business Incubator Center. Admission $75, which includes lunch. 243-5242 or https://gjincubator.org
n Colorado HR Connection free webinar on unemployment claims, 11 a.m. to noon, Oct. 15. To register or obtain more information, contact Kelly Murphy. 243-7789 or kelly@lhrs.net
n Western Colorado Human Resource Association monthly meeting and program on diversity, 11:30 a.m. to 1 p.m. Oct. 15, Mesa County Workforce Center, 512 29 1/2 Road, Grand Junction. Members attend at no additional charge. Guests pay $20. www.wchra.org F
