THE BUSINESS T IMES News OCTOBER 26-NOVEMBER 8, 2023
THE DEFINITIVE SOURCE FOR GRAND JUNCTION BUSINESS NEWS SINCE 1994
In this issue n 2B or not 2B?
2
Three business organizations urge Grand Junction voters to approve a measure they say will promote more housing.
n Healthy effort
5
St. Mary’s Medical Center in Grand Junction has added to the equipment it deploys to detect and treat breast cancer.
VOLUME 30, ISSUE 20
THEBUSINESSTIMES.COM
History Trends in the Contributors making Opinion n Real estate firm puts century old downtown hotel back in business. See page 2
Business Briefs 6 Business People Almanac
n River bank
OakStar Bank announced plans to build a location at the Riverfront at Las Colonias business park in Grand Junction.
n More care there
8
A health care organization that provides services to people with HIV has opened in a new Grand Junction location.
n Rate retreats
19
The unemployment rate in Mesa County has retreated for a second straight month even as labor demand increases.
n Different pools
21
A tight labor market makes it crucial for organizations to recruit employees from often overlooked labor pools.
n Departments Almanac Business Briefs Business People Contributors News Opinion Trends
30 28 30 21-25 2-18 26 19-20
Danielle and Jeff Zimmerman own Fort + Home, a real estate firm that purchased and renovated the Hotel Melrose in downtown Grand Junction. The couple retained many of the features of a hotel that first opened in 1908. They also equipped the 16 suites inside with private bathrooms, kitchenettes and other modern amenities they believe will offer comfortable experiences for guests. The hotel also features a cocktail bar. Business Times photos by Phil Castle
PRSRT STD U.S. POSTAGE PAID PERMIT NO. 67 The Business Times 609 North Ave., Suite 5 Grand Junction, CO 81501
THE BUSINESS T IMES News
Page 2
The Business Times
OctOber 26-NOvember 8, 2023
Trends Century old hotel Contributors back in business Opinion B Business Briefs Business People Almanac Real estate firm combines old and new in purchasing and renovating Hotel Melrose
lack and white photos adorning the walls inside the Hotel Melrose offer a glimpse more than a century back in time to when the hotel opened in 1908. A lot has changed since then — both outside and inside the historic building in downtown Grand Junction. But thanks to the efforts of a couple and their real estate business, some things remain the same. For one, the Hotel Melrose is back in business. Jeff and Danielle Zimmerman own Fort + Home, which purchased the Hotel Melrose in 2021 and renovated the building. A grand opening is set for 5 to 7 p.m.
Oct. 26 at the hotel, 337 Colorado Ave., and will include a ribbon cutting ceremony as well music, food and beverages. The hotel is set to open to guests Oct. 31. The Zimmermans kept the old layout of the hotel and as many of the fixtures as they could, Jeff says. “We tried to keep the historic character as much as possible.” At the same, they refurbished the building to modern standards and added private bathrooms, kitchenettes and other modern amenities to the 16 suites inside to keep guests comfortable. See HOTEL page 18
Danielle and Jeff Zimmerman own Fort + Home, a real estate firm that purchased and renovated the Hotel Melrose in downtown Grand Junction. The hotel, which first opened in 1908, now features 16 suites equipped with modern amenities.
STORY AND PHOTOS BY PHIL CASTLE Grand Junction City Councilman Cody Kennedy, far left, speaks at a news conference outside Grand Junction City Hall. Kennedy was among the officials calling on voters to approve a ballot measure they said would help to provide more affordable housing. (Business Times photo by Phil Castle)
2B or not 2B? Groups favor housing measure Phil Castle
The Business Times
Officials with three business groups called on Grand Junction voters to approve a measure they said will help provide more affordable housing. The Grand Junction Area Chamber of Commerce, Grand Junction Economic Partnership and Downtown Grand Junction are among the organizations that endorsed City of Grand Junction Question 2B on the mail-in election ballot. Grand Valley Catholic Outreach and the Western Colorado Alliance also endorsed the measure. “This is just a common sense approach,” said Brandon Stam, executive director of Downtown Grand Junction. Stam was among the officials who praised the measure during a news conference staged outside Grand Junction City Hall. If approved, the measure would amend the Grand Junction charter to allow the city to lease city property for up to 99 years for affordable and workforce housing. See MEASURE page 16
OctOber 26-NOvember 8, 2023
The Business Times
Page 3
Page 4
The Business Times
The Business Times 609 North Ave., Suite 5 Grand Junction, CO 81501 (970) 424-5133 www.thebusinesstimes.com The Business Times is published twice monthly and distributed throughout Grand Junction, Fruita and Palisade. Advertising rates and deadlines are available upon request. Opinions expressed in this publication are those of the writers and don’t necessarily reflect the views of the publisher, editor or advertisers. Copyright © 2023 — All rights reserved
OctOber 26-NOvember 8, 2023
Burlington’s planning Nov. 4 grand opening
A celebration is scheduled to mark the opening of a national discount retail store in Grand Junction. Burlington Stores announced its opening at its new location on Nov. 4 in the Grand Mesa Center, 2424 U.S. Highway 6 & 50. The new location will bring to 15 the number of Burlington stores in Colorado as Michael O’Sullivan the company continues a nationwide expansion. “Our goal is to continue to offer communities low prices on brand name merchandise for the entire family and home,” said Michael O’Sullivan, chief executive officer of Burlington Stores. “We’re continuing to expand our footprint across the country, and are excited to be opening a new store in Grand Junction. We look forward to giving local customers the chance to discover big savings on a wide range of products.” Operating hours for the new store are scheduled to run from 9 a.m. to 11:30 p.m. Monday through Thursday, 9 a.m. to midnight Friday and Saturday and 9 a.m. to 11 p.m. Sunday. The grand opening on Nov. 4 will
include a ribbon-cutting ceremony. The first 100 customers aged 18 and up will receive $10 bonus cards to use toward their purchases. On Nov. 5, customers will receive free Burlington umbrellas while supplies last. In addition, Burlington Stores will donate $5,000 to a nearby school through a partnership with AdoptAClassroom.org. Funds will provide students with classroom materials. A presentation is planned during the ribbon-cutting ceremony. The new Grand Junction operation will create employment opportunities. Candidates should visit the website located at https://burlingtonstores.jobs to obtain more information and apply online. Burlington Stores offers a varied inventory that includes women’s apparel and accessories, menswear, clothes for children and infants, footwear and home decor. Headquartered in New Jersey, Burlington Stores operated a total of 939 stores in 46 states and Puerto Rico at the end of the second quarter of the 2023 fiscal year. The company reported 2022 fiscal year net sales of $8.7 billion. For more information about Burlington Stores, visit the website at www.burlington.com. F
Grand Junction business among latest housing grant recipients
A Grand Junction company is among the recipients of the latest grants promoting the development of attainable housing across Colorado. Phoenix Haus is among three Colorado-based panelized manufacturers to receive grants through the Innovating Housing Incentive Program. The incentives division of the Colorado Office of Economic Development and International Trade manages the program. The latest grants are expected to incentivize the addition of 606 attainable housing units. “We need more housing now, and our administration is stepping up to provide this third round of grants to help create 600 new housing units in Colorado starting at $300,000,” said Colorado Gov. Jared Polis. “This new housing will help support Colorado’s workforce, economy and ensure our state remains a place where people can live where they want to live — close to their jobs, schools, the places they love or where they grew up.” The grants range from $680,000 to $13 million in performance-based funding and include two funding mechanisms: a reimbursement for 20 percent of eligible operating expenses and per-unit incentives up to $6,000 for every housing unit built and installed in Colorado. Phoenix Haus was awarded up to
$710,000 for the construction of 90 housing units. The prefabricated house designer and manufacturer specializes in environmentally friendly homes that can be used by multiple generations. The company uses manufacturing processes that increase quality and output and result in prefabricated building systems that meet the highest environmental and energy standards. A new home from Phoenix Haus is projected to cost around $500,000. Phoenix Haus relocated from Detroit to Grand Junction in 2017 and was approved to participate in the Rural Jump Start Program offering credits on income and sales taxes. The company outgrew its original facility and relocated last year to a larger facility that offers twice the space and allows for increased production to meet increasing demand. Phoenix Haus was among the 50 winners in the 2021 Colorado Companies to Watch program honoring fast-growing privately held firms headquartered in the state. The other grant recipients were Timber Age Systems in Durango and Huron Components in Littleton. Timber Age Systems was awarded $680,000. Huron Components was awarded $1.3 million. F
The Business Times
OctOber 26-NOvember 8, 2023
Dr. Joyce Sekharan, director of the breast cancer program at St. Mary’s Medical Center in Grand Junction, wields ceremonial scissors to cut a pink ribbon as she joins with other doctors and technicians to celebrate a new mammography unit. The unit, pictured below, uses the latest technology, including artificial intelligence, to detect breast cancer. (Business Times photos by Phil Castle)
St. Mary’s expanding breast care facilities Phil Castle
The Business Times
St. Mary’s Medical Center in Grand Junction has added to the technology it deploys in detecting breast cancer. Doctors and technicians at the breast cancer center in the Advanced Medical Pavilion joined in a celebration of sorts of a third mammography unit. “It’s an exciting day,” said Dr. Joyce Sekharan, director of the breast cancer program at St. Mary’s. The addition increases the capacity of a facility that conducts 13,000 mammograms a year, Sekharan said. Moreover, the Hologic 3Dimensions unit offers the latest technology in detecting breast cancer earlier, when the prognosis for cure is higher, she said. Mammograms can detect cancer up to two years before it’s big enough to feel or cause symptoms. The unit also reduces the need for breast biopsies and offers a shorter screening time that decreases discomfort for patients, she said. Dr. Roy Erb, a radiologist who practices at St. Mary’s, said the unit produces highresolution three-dimensional images. Artificial intelligence helps in identifying characteristics commonly associated with cancer and marks images for further evaluation by radiologists. A score indicates how likely an area could be cancerous. The software also provides information that helps radiologists prioritize their work
in deciding which mammograms need immediate attention. “It’s the future of imaging,” Erb said. Sekharan said breast cancer afflicts on average one in eight women, and the risk increases in women over age 40. But survival rates also have increased along with screenings. She urged women over 40 to schedule annual mammograms. F
FOR YOUR INFORMATION To schedule a breast cancer screening at St. Mary’s Breast Care Center, call (970) 298-6900 or visit the website at stmarysgj.org/mammogaphy.
Page 5
Page 6
The Business Times
OctOber 26-NOvember 8, 2023
An architectural rendering shows what the OakStar Bank building will look like when the facility is completed in 2025 in the Riverfront at Las Colonias business park. The 12,000-square-foot building will include the bank operation as well as restaurant, retail and office space. (Illustration courtesy OakSar Bank.)
Bank building planned for local business park Construction is scheduled to begin in 2024 on a bank building in a riverfront business park in Grand Junction. OakStar Bank announced plans to build a 12,000-squarefoot facility at the Riverfront at Las Colonias development. The facility will include the bank operation as well as restaurant, retail and office space. The Clay Tufly building is expected to open in late 2025. “OakStar Bank is committed to serving our community while providing a different and dynamic banking experience,” said Clay Tufly, market president. “Our choice to build at Las Colonias is based on the same belief. We are excited to create this experience on the banks of the Colorado River and thank our loyal community members who have afforded us this opportunity.” OakStar Bank currently operates out of a building at 501 Main St. in downtown Grand Junction.
Based in Missouri, OakStar Bank also serves a total of 20 communities in Missouri and Kansas. The Grand Junction Economic Partnership and Las Colonias Development Corp. worked with OakStar Bank to select the site and lease property. “We are excited to welcome OakStar Bank to the Riverfront at Las Colonias,” said Curtis Englehart, executive director of GJEP. “Their decision to invest in our community is a testament to Mesa County’s growing economy and the opportunities available within the region.” Englehart said he expects more activity at Las Colonias as a result of the new building. “The presence of OakStar Bank will contribute to new community engagement for the property, and we anticipate additional activity happening with the restaurant, retail and business park’s development because of this.” With the addition of OakStar Bank, the 15-acre business park will be home to seven businesses. The nearby mixed-use space includes a public park, amphitheater and 332-unit housing development. F
Economic leadership conference Nov. 7 About 150 high school from across Western Colorado are expected to attend an annual economic leadership conference in Grand Junction. The Freedom & Responsibility Education Enterprise (FREE) Foundation and Foundation for Economic Education have scheduled the conference for 8:30 a.m. to 2:30 p.m. Nov. 7 in the Colorado Mesa University Center ballroom. Based in Grand Junction, the FREE foundation hosts the conference for high school juniors and seniors as part of its efforts to promote financial literacy, including economic principles, entrepreneurship and free enterprise. Lawrence Reed, president emeritus of the Foundation for Economic Education,
will deliver the keynote address, titled “The Seven Principles of Free Enterprise.” Tunji Adebayo, a motivational speaker, will deliver a speech titled “Are Geniuses Born or Are They Made?” Adebayo will strive to inspire students to discover their unique strengths, cultivate entrepreneurial mindsets and remain motivated in the face of hardships. Howard Beatty will conduct two breakout sessions for students in which they’ll play a game designed to team them about voluntary exchange, government actions and entrepreneurial wealth creation. For more information about the conference and FREE Foundation, visit www.free-dom.us.com. F
OctOber 26-NOvember 8, 2023
The Business Times
Now offering enhanced nationwide workers’ compensation insurance We go where Colorado business grows Pinnacol was born in Colorado, and we understand that many businesses rooted here expand and flourish across the country. We now offer enhanced nationwide workers’ comp coverage to meet the needs of Colorado’s businesses as they grow.
Page 7
Page 8
The Business Times
OctOber 26-NOvember 8, 2023
Health network opens new Grand Junction facility Anonprofit health care organization that provides services to people affected by human immunodeficiency virus and other diseases has opened in a newly renovated location in Grand Junction. The Colorado Health Network celebrated a grand opening for the 5,000-square-foot facility, located at 1001 Wellington Ave. Darrell Vigil The Grand Junction-based team provides a range of services — including medical case management and insurance and housing access — to people with HIV. The team also provides preventative services, including education, medications, safer six supplies and testing.
The Colorado Health Network has operated in Western Colorado since 1986, originally as the Western Colorado AIDS Project. The network also operates locations in Colorado Springs, Denver, Fort Collins, Greeley and Pueblo, serving a total of more than 12,000 people. “For the first time in our nearly 40-year history, we have a permanent, Amy Davis owned facility for our Western Colorado operations serving 22 counties,” said Darrell Vigil, chief executive office of the Colorado Health Network. “We’re committed to serving all of Colorado, and we are particularly excited for opportunities to expand wraparound services for people affected by HIV and people who
use drugs — some of the most marginalized and stigmatized people in our state — by investing in an office space that can accommodate our vision for the future.” Dr. Amy Davis, medical director of the HIV Collaborative Clinic at St. Mary’s Family Medicine in Grand Junction, said she’s looking forward to continued work with the Colorado Health Network. “For 23 years we have proudly locked arms with the team from Colorado Health Network to care for people living with HIV,” Davis said. “Our collaborative partnership was a national model for rural approaches to HIV care and treatment. As we look forward, we’re thrilled to continue this critical partnership that ensures Western Coloradans affected by HIV live long, healthy lives.” For more information about the Colorado Health Network, visit https://coloradohealthnetwork.org. F
Children’s Hospital opens new location in Grand Junction
Children’s Hospital Colorado has opened a new outpatient care clinic in Grand Junction. The clinic is located on the first floor of the Primary Care Partners medical building at 3150 N. 12th St. The 3,100-square-foot facility includes 10 examination rooms, a pulmonary function testing laboratory and procedure room. The facility consolidates a number of services, including those related to cardiology, developmental pediatrics, endocrinology, genetics, neurology, rehabilitation therapy and urology. A total of 23 health care providers in eight pediatric specialties work there. The new location is the 15th in the state for Children’s Hospital Colorado. “It is a part of our mission to provide the highest level of pediatric care to kids close to home,” said Suzy Jaeger, senior vice president and chief patient experience and access officer for Children’s Hospital Colorado. “We are committed to providing specialized pediatric-only care in all of the communities we serve. It’s with tremendous excitement we are able to expand our clinics and bring them under one roof for kids along the Western Slope in Grand Junction to make it easier and safer for parents to get their kids the medical care they need and deserve close to home.” Dr. Benjamin Hughes, a pediatric pulmonologist and sleep medicine physician with Children’s Hospital Colorado, said he’s lived in Grand Junction five years and observed the need for expanded specialty pediatric care. “I’ve been a provider with Children’s Colorado for 14 years, so not only is the opening of our newest location near and dear to my heart, but it’s a mission I am extremely proud to be a part of,” Hughes said. “I’m especially excited to see more specialties available to kids in our community who deserve the best specialty care in their own backyard.” For more information about Children’s Hospital Colorado, visit the website located at www.childrenscolorado.org. F
OctOber 26-NOvember 8, 2023
The Business Times
Page 9
Page 10
The Business Times
OctOber 26-NOvember 8, 2023
Leitner-Poma hails development of Utah facility A cable transportation company expects to open next year its largest operation in the United States in a new facility in Utah. Leitner-Poma of America recently purchased 5 acres in Grand Junction to also expand an operation that already includes a 100,000-square-foot facility. Officials with Leitner-Poma joined Utah Lt. Gov. Diedre Henderson, Daren Cole Tooele Mayor Debbie Winn and others in a ground breaking ceremony at the new campus in Tooele, about 35 miles southwest of Salt Lake City. “Today we are thrilled to mark a new era of our company here in Tooele,” said Daren Cole, president of Leitner-Poma. “We are really invested in the state of
Utah and the resort industry. We are focused on made in America here in Utah and the U.S. We are doubling down on making 85 percent to 90 percent of our equipment right here in Utah and next door in Grand Junction.” Henderson praised the development of a facility that will manufacture cable transportation systems, including those for the ski industry. “I can’t think of anything more fitting than partnering with Leitner-Poma, whose mission is to literally lift people, and Utah, whose state slogan is life elevated.” Winn said she was grateful Leitner-Poma and the people who work for the company. “It is the people that make this happen. And it is you who’s changing the lives of the people in our community.” The $27 million facility in Tooele is scheduled to open in May. At 130,000 square feet, the new facility will be
the largest for the company in the United States and serve as headquarters for Skytrac, a subsidiary manufacturer that focuses on the design, production, installation and maintenance of fixed-grip ski lifts. The larger facility is expected to enable the company to increase production as well as expand staffing to up to 120 employees. The new facility also will include the installation of a 162-foot-tall wind turbine capable of generating 250 kilowatts of electricity — enough to meet the needs of the operation. The wind turbine was developed by Leitwind, an affiliate company of Leitner-Poma. The Skytrac headquarters in Utah will serve as a showcase for the technology. If market demand materializes as expected, the facility could manufacture the turbines to serve North American, Cole said. F
Legal Resource Day planned for Oct. 27
A series of free presentations are planned as part of Legal Resource Day in Grand Junction. Organized by Mesa County Libraries and the Mesa County Court and 21st Judicial District, the event is scheduled for 9:30 a.m. to 5 p.m. Oct. 27 at the central library, 443 N. Sixth St. In addition to presentations, the event will include vendors as well as sessions in which participants may ask lawyers questions. A Spanish-speaking interpreter will be available from 2 to 5 p.m. Here’s what’s planned: n 9:30 a.m. — “Tenant Rights,” presented by Colorado Legal Services. n 11 a.m. — “See you in Court: The Life of a Civil Lawsuit,” presented by Our Courts. n 12:30 p.m.. — “Representing Yourself in Court: Domestic and Civil Cases,” presented by Colorado Legal Services. n 2 p.m. — “Introduction to Family Court Facilitation and Motions Commonly Seen in Family Cases,” presented by Tina Staake. n 3:30 p.m. — “I Don’t Want to Talk About it: End-of-Life Planning,” presented by Stephanie Holguin. F
Benefit Fruita event scheduled for Oct. 28
Tickets are available for an annual Fruita event that raises breast cancer awareness and funding. The Fruita Area Chamber Foundation has scheduled the Cups for a Cure for 1 to 4 p.m. Oct. 28 at the Fruita Civic Center Park at 325 E Aspen Ave. The event will include chili, soup, beer and other beverages as well as live music. Restaurants and businesses will compete in a chili and soup cookoff. A silent auction featuring items from across the Grand Valley will be conducted. Funds raised at Cups for a Cure will go to support programs offered through the Family Health West Foundation and Community Hospital Foundation that in turn treat and support those with breast cancer. F
OctOber 26-NOvember 8, 2023
The Business Times
Page 11
Page 12
The Business Times
News, views and advice you can use
Subscribe today to the journal that means business in the Grand Valley. (970) 424-5133
www.thebusinesstimes.com
OctOber 26-NOvember 8, 2023
Highline will be drained to eradicate mussels
Colorado Parks and Wildlife plans to drain Highline Lake west of Grand Junction as part of additional efforts to eradicate an infestation of zebra mussels. “We understand that this isn’t ideal for our boating and angling community,” said Alan Martinez, manager of Highline Lake State Park. “What we hope is that people see this and understand how serious this problem is, and that it can be avoided by simply cleaning, draining and drying your boat or any equipment that comes in contact with the water in between each and every use.” A phased plan was finalized after five adult mussels were found while removing buoys on the lake on Oct. 1. The first phase will begin later this year. CPW staff will apply a higher concentration of EarthTec QZ, the same copper-based molluscicide that was applied to the lake in March. The goal of this application is to suppress the population to minimize reproductive potential in 2024. In early 2024, CPW will begin slowly lowering Highline Lake with an anticipated emptying of the lake by the end of the year. With lower water levels, Highline Lake will be closed to motorized boating for the 2024 season. CPW can’t move fish out of Highline Lake due to the risk of moving viable mussels on or inside fish. The only option was to remove bag and possession limits for the duration of the salvage. Anglers can keep all the fish they catch from the shoreline using lawful methods. All fish must be dead prior to transporting them from the lake. “We did not make this decision lightly or in haste,” said Robert Walters, manager of the CPW invasive species program. “Over the past year we have had numerous discussions with CPW’s Northwest Region aquatic, regional and state park staff, and we have come up with a plan that builds upon that work that was performed last spring. “While the efforts in early 2023 did not achieve our ultimate goal of eradicating zebra mussels, we believe it helped to keep population numbers at a manageable level,” Walters said. “A single female zebra mussel can produce more than 30,000 eggs per reproductive cycle. Any mussel we can keep from reproducing in the immediate future increases the probability of our success next fall.” Ben Felt, senior aquatic biologist with the Northwest Region, said eradication of zebra mussels remains the goal at Highline. “To do nothing would be detrimental to Highline Lake and would put fisheries across the state at risk. CPW is committed to rebuilding the Highline Lake fishery once the zebra mussel eradication project is complete.” F
OctOber 26-NOvember 8, 2023
The Business Times
Page 13
Page 14
The Business Times
OctOber 26-NOvember 8, 2023
Nov. 2 meeting to focus on houselessness
A public meeting has been scheduled in Grand Junction for what’s billed as a community conversation about houselessness. The meeting is set for 4 to 6 p.m. Nov. 2 at the Grand Junction City Hall auditorium at 250 N. Fifth St. The City of Grand Junction will conduct the meeting to gather additional comments about the needs of the unhoused as part of an effort to address concerns about available services and resources. The city also plans to share the results of a parks and recreation open space plan as it was developed to reactivate four historic parks in downtown Grand Junction. This meeting is being held for community members in addition to others scheduled to be held virtually in October with focus groups planned to include business leaders, faith organizations, service providers and first responders during the second week of November. Registration for focus groups is available online. In June, the city began conducting an unhoused needs assessment to quantify the current and projected needs among people experiencing houselessness. In addition to having conducted a survey with a full report scheduled for presentation Nov. 13, the city is gathering input online using EngageGJ.org and with the series of community meetings and focus groups. Comments from these meetings and the EngageGJ.org project page will be used to develop strategies to meet needs, bridge gaps and overcome barriers for people experiencing houselessness. F
Open house planned to discuss lift stations
An open house has been scheduled to discuss the proposed replacement of wastewater lift stations in Grand Junction. The open house is set for 6 p.m. Nov. 6 at the Redlands Community Center, located at 2463 Broadway. The City of Grand Junction will host the event to discuss the replacement of the Ridges and Brach’s Market lift stations with one lift station on Lake Road. The Ridges lift station has neared the end of its useful life and is located within the high traffic right-of-way, which poses construction and operational challenges. Eliminating the nearby Brach’s Market lift station would reduce operating costs. The proposed Lake Road lift station would provide an opportunity to extend sewer service to the Canary Lane, Connected Lakes and Red Mesa Heights neighborhoods, which are designated as sewer improvement districts. The lift station would pump wastewater to a connecting sewer across the Colorado River that then conveys wastewater to the Persigo wastewater treatment plant on River Road. F
OctOber 26-NOvember 8, 2023
The Business Times
Page 15
Page 16
The Business Times
OctOber 26-NOvember 8, 2023
Measure
Continued from page 2 The charter currently limits leases to 25 years, less than the minimum 30-year leases many financial institutions and programs require to fund affordable housing projects. Mail-in ballots in the 2023 coordinated election must be returned by Nov. 7. The median price of homes sold in the first three quarters of 2023 in Mesa County was $390,000. By one estimate, that price puts home ownership out of reach for two-thirds of local households. It’s also estimated at least 2,000 additional units are needed to meet affordable housing needs in Grand Junction. Candace Carnahan, president and chief executive officer of the Grand Junction Area Chamber of Commerce, said approval of 2B would enable the city to pursue more creative solutions to a complex problem. The availability of more affordable housing would strengthen the workforce, which in turn would strengthen the economy and community, she said. Curtis Englehart, executive director of the Grand Junction Economic Partnership, said a shortage of affordable housing raises a barrier to economic development. Companies look for places in which their employees can live. Passage of 2B would support collaborative efforts to address the issue, Englehart said. Diane Schwenke, the retired president and CEO of the Grand Junction chamber, and Bernie Buescher, a former state legislator and secretary of state, serve as co-chairmen of a campaign to pass Question 2B. Schwenke and Buescher both called the measure a common sense effort to provide affordable housing. “This really is a common sense initiative,” Buescher said. “This is one small step in how Mesa County and the City of Grand Junction can deal with this issue.” F
NFIB urges voters to reject Proposition HH A small business advocacy group continues to campaign against a ballot measure that would reduce property tax rates, but backfill revenue with money collected above state constitutional limits. The National Federation of Independent Business released a video urging voters to reject Proposition HH. The measure would reduce state tax assessment rates for residential and commercial properties, but also backfill reduced tax revenues for local governments and school and special districts with revenue collected above limits imposed by the Taxpayer Bill of Rights. “Every Colorado voter needs to know that Proposition HH is a bait-and-switch, offering a temporary property tax cut, but undoing TABOR refunds,” said Tony Gagliardi, state director of the National Federation of Independent Business. “We urge Colorado voters to vote no on Proposition HH and preserve TABOR.” F
OctOber 26-NOvember 8, 2023
The Business Times
Page 17
Page 18
Hotel
The Business Times
OctOber 26-NOvember 8, 2023
Fixture Studio, a Grand Junction-based Continued from page 2 company that handles vacation rentals, It’s a combination that offers a unique will manage the Hotel Melrose. Guests experience, Danielle says. And that’s the will enjoy contactless check-in and keyless point. “We really want to focus on the entry. experience.” While Fort + Home is based in Denver, The Hotel Melrose opened in 1908, the Zimmermans have ties to Western constructed by William and Charlotte Colorado. Jeff grew up in the region and Ponsford as what originally was a rooming attended Colorado Mesa University. Jeff house. The Ponsfords immigrated to Mesa and Danielle met at CMU, where they both County from England and were involved received bachelor’s degrees. in cattle ranching in the Kannah Creek area Jeff said he worked in the energy before moving to Grand Junction. industry, but also joined with Danielle The building is the last of a dozen in renovating Grand Junction houses buildings constructed around the same for rental properties. They subsequently time in downtown, Jeff says. The prospect worked at flipping properties in Denver. of preserving that history was part of what They launched Fort + Home in 2017, interested him in purchasing and restoring a firm with divisions that buy, sell and the property. lease real estate; manage properties; invest But there’s also the location and what in real estate; and develop residential and he says is the allure of the Grand Valley commercial properties. to guests who want to enjoy the outdoor Jeff and Danielle Zimmerman, owners of Fort + Home, relax in a sitting area in The company is involved in projects recreation, visit wineries, eat at local the Hotel Melrose. The room is located across a hallway from a cocktail bar in in Colorado, Montana and Wyoming. restaurants, check out breweries and coffee the hotel in downtown Grand Junction. (Business Times photo by Phil Castle) That includes another project in the Grand shops and shop in stores. Downtown Grand Junction is an attraction as well, he says. “Main Street here configurations with king, queen and double queen beds. Valley in renovating a trailer park as part of efforts to offer The suites come with private bathrooms, kitchenettes and more affordable housing. Jeff says an important part of is beautiful, the most beautiful main street in Colorado.” business development is providing workforce housing. The Hotel Melrose can also serve as a venue for events, flat screen televisions. The Zimmermans expect to work on still other Grand including weddings and corporate retreats. It’s possible to The hotel also features The Melrose Spirit Co., a cocktail Valley projects, including renovations and new construction. book the entire hotel, Jeff says. bar, as well as a patio with outdoor seating and fire pits. “We plan to make a big impact in the community,” Jeff says. Although nothing is yet decided, the Zimmermans say FOR YOUR INFORMATION But the more things change, the more some things they envision opportunities to collaborate with other local remain the same. And 115 years after it first opened, the businesses in offering co-branded experiences to guests, For more information about the Hotel Melrose, Hotel Melrose is back in business. Danielle says the couple is whether that’s bicycle rentals, meals at local restaurants Including availability and reservations, log on pleased to have been a part of that. “We feel really fortunate.” or winery tours. to the website at www.thehotelmelrose.com. F The Hotel Melrose offers 16 suites in various
THE BUSI OCTOBE
R 26-NO
THE DE
FINITIV
E SOUR
In this is sue n 2B or no
t 2B? Three bus urge Gra iness organiza tions nd Junctio to approve n voters a mea say will promot sure they e more housing n He .
CE FOR
GRAND
VEMBER
NES News S TIMES
JUNCTIO
8, 2023
VOLUME
N BUSIN
ESS NE
WS SIN
CE 199
4
THEBUS
30, ISS
UE 20
Trend Histor Contrib s utors in the y 5 Opinion making Bu Bus6ines siness Briefs s People 8 Almana c althy eff
2
INESSTIM
ES.CO
ort St. Mar y’s Med ical Cen Grand Jun ter to the equ ction has add in to detect ipment it dep ed loys and trea t breast cancer. n River ba
nk
OakSta r plans to Bank announ ced the Rive build a location rfront at at busines s park in Las Colonias Grand Jun ction. n
More ca
re
there A health that pro care organiza tion vides serv people with HIV ices to in a new has Grand Jun opened ction loca tion. n Ra te retre
at
n Real es puts ce tate firm downto ntury old back in wn hotel See pa business. ge 2
s The une mpl Mesa Cou oyment rate in for a sec nty has retreated even as ond straight mon labor dem th and incr eases.
n Diffe
rent po
19
ols
A tight labo it crucial r market mak to recruit for organizationes often ove employees froms rlooked labor poo ls.
21
n Depa
rtm
ents Almana c Busines 30 Busines s Briefs 28 Contrib s People utors 30 News 21-25 Opinion 2-18 Trends 26 19-20 PRS U.S. POS RT STD TAG PERMIT E PAID The Bus NO. 67 609 Nor iness Times Grand Juncth Ave., Suite 5 tion, CO 81501
Expiration _________ CVV _____
Danielle own Fort and Jeff Zimmer that purc + Home, a real man Melrose hased and reno estate firm The cou in downtown Gravated the Hot el ple of a hote retained man nd Junction. They alsol that first ope y of the features ned in 190 with priv equipped the ate bath 16 suites 8. other mod rooms, inside offer com ern amenitie kitchenettes and s The hote fortable experiethey believe will Busines l also features nces for guests. a s Times photos cocktail bar. by Phil Castle
M
THE BUSINESS T IMES News The Business Times
OctOber 26-NOvember 8, 2023
Page 19
Trends Unemployment Contributorsrate retreats Opinion Business Briefs Business People Almanac
INDICATORS AT A GLANCE
n Business filings
s New business filings in Colorado, 54,890 in the second quarter, up 39.1 percent from the second quarter of 2022.
n Confidence
t Consumer Confidence Index 103 for September, down 5.7. t Leeds Business Confidence Index for Colorado, 43.6 for the fourth quarter, down 0.5. t National Federation of Independent Business Small Business Optimism Index 90.8 for September, down 0.5.
n Foreclosures
s Foreclosure filings in Mesa County, 32 in September, up from 20 in September 2022. t Foreclosure sales in Mesa County, 3 in September, down from 14 in September 2022.
n Indexes
s Conference Board Employment Trends Index, 114.66 for September, up 0.5. t Conference Board Leading Economic Index 104.6 for September, down 0.5%. s Institute for Supply Management Purchasing Managers Index for manufacturing, 49% for September, up 1.4%.
n Lodging
s Lodging tax collections in Grand Junction, $613,988 for the first quarter, up 6% from the first quarter of 2022.
n Real estate
t Real estate transactions in Mesa County, 298 in September, down 19.7% from September 2022. t Dollar volume of real estate transactions in Mesa County, $121 million in September, down 26.6% from September 2022.
n Sales
s Sales and use tax collections in Grand Junction, $43.3 million for the first half, up 2.3% from the first half of 2022. t Sales and use tax collections in Mesa County, $4.6 million for September, down 5.3% from September 2022.
n Unemployment t Mesa County — 3.3% for September, down 0.4. s Colorado — 3.2% for September, up 0.1. n United States — 3.8% for September, unchanged.
Mesa County joblessness decreases even as labor demand increases Phil Castle
Labor demand remains strongest in the health care sector, although several large projects have bolstered demand in Sept. Aug. The monthly unemployment rate has construction, she said. t Delta County 3.5 3.7 retreated for a second consecutive month in Looking ahead, Bullock said she t Garfield County 2.7 2.9 Mesa County even as labor demand grows. expects seasonal trends to produce t Mesa County 3.3 3.7 Lindsay Bullock, something of a mixed bag. Landscaping t Montrose County 3.1 3.5 manager of the Mesa and other outdoor work could slow as t Rio Blanco County 2.8 3.2 County Workforce winter weather approaches. But many Center in Grand retailers increase hiring for the coming Junction, said job openings afford opportunities holiday shopping season. The monthly unemployment rate could and there are qualified applicants to fill them. tick up or down, but she doesn’t anticipate any big changes. “It’s a good mix.” Over the longer term, Bullock said she’s encouraged by The seasonally unadjusted unemployment the number of new businesses coming to Mesa County and the rate fell four-tenths of a point to 3.3 percent in jobs they’ll create. A new Costco Wholesale operation in Grand Lindsay Bullock September, according to the latest estimates Junction is projected to create 275 net new jobs. from the Colorado Department of Labor and Seasonally unadjusted jobless rates also retreated in neighboring Employment. With declines in each of the last two months, the Western Colorado counties in September — down four-tenths of jobless rate has dropped to its lowest level since it stood at 2.9 percent a point to 3.1 percent in Montrose County and 2.8 percent in Rio in May. At this time last year, the rate was even lower at 2.7 percent. Blanco County and two-tenths of a point to 3.5 percent in Delta Between August and September, Mesa County payrolls County and 2.7 percent in Garfield County. edged up 201 to 75,494. The number of people counted among The statewide seasonally adjusted unemployment rate edged those unsuccessfully looking for work decreased 353 to 2,537. up a tenth of a point to 3.2 percent. The labor force, which includes the employed and unemployed, The number of people counted among those unsuccessfully shrank 152 to 78,031. looking for work in Colorado increased 3,600 between August and Over the past year, payrolls edged down 68 even as the ranks September to 103,500. Nonfarm payrolls increased 1,500 between of the unemployed increased 420. The labor force grew 352. August and September as the addition of 2,100 government jobs Bullock welcomed the drop in the unemployment rate more than offset the loss of 600 jobs in the private sector. between August and September, but also hailed another month of Over the past year, nonfarm payrolls increased 40,000 with the increases in the number of job orders posted at the Mesa County biggest gains in the leisure and hospitality, professional and business Workforce Center. services and education and health services sectors. Payrolls declined Job orders increased 439 to 1,572. Job orders have topped in the financial activities, construction and information sectors as 1,000 for the past two months, she said. For September 2022, 772 well as the trade, transportation and utilities sector. orders were posted. The average workweek for Colorado employees on private, Through the first three quarters of 2023, 8,000 orders were nonfarm payrolls shortened a tenths of an hour to 33.4 hours. posted, Bullock said. That’s a 7.5 percent increase over the 7,441 Average hourly earnings increased $1.31 to $35.75. orders posted during the same span in 2022. F The Business Times
AREA JOBLESS RATES
CEO confidence dips on less upbeat outlook A quarterly measure of confidence among business executives has retreated on a more cautious outlook for the United States economy, The Conference Board reported its Measure of CEO Confidence fell two points for the fourth quarter. At 46, the latest reading reflected more negative than positive responses to the survey upon which the index was based. The Conference Board conducts the survey in collaboration with the Business Roger Ferguson Council. “A large majority of CEOs continue to expect a U.S. recession ahead. But that consensus receded notably over the course of 2023,” said Roger Ferguson Jr., both a trustee of the Conference Board and vice chairman of the Business Council. While 72 percent of the CEOs who responded to the fourth quarter survey said they’re preparing for a recession over the next 12 to 18 months, that’s down from 93 percent at the start of the year, Ferguson said. “Of those, 69 percent expect a brief and shallow recession, with limited global spillovers. And only 3 percent are preparing for a deep U.S. recession,” he said. Still, assessments of current conditions and expectations for the future were less upbeat. For the fourth quarter, 18 percent of CEOs said general economic conditions were better than they were six months ago.
That’s down from 28 percent in the third quarter. While 19 percent of CEOs said they expect conditions to improve, 47 percent said they anticipated worsening conditions over the next six months. In evaluating their industries, 26 percent of CEOs said they expected conditions to improve over the next six months, down from 29 percent in the third quarter. Another 29 percent forecast Dana Peterson worsening conditions. Dana Peterson, chief economist of the Conference Board, said CEOs continue to hire in the midst of a tight labor market with 38 percent of those who responded to the fourth quarter survey reporting plans to expand staffing over the next year. “Only 13 percent of CEOs expect to cut workers, with the remaining 49 percent of CEOs anticipating little change in their workforces — a likely sign of labor hoarding,” Peterson said. Attracting qualified workers has become somewhat less difficult. While 71 percent of CEOs said they still plan to increase wages by more than 3 percent over the next year, others look to make smaller wage increases or no changes, Peterson said. Meanwhile, 27 percent of CEOs said they expect their capital budgets to increase over the next year, up from 22 percent during the third quarter. F
Page 20
The Business Times
OctOber 26-NOvember 8, 2023
Leading index signals economic weakness ahead A monthly index forecasting economic conditions in the United States continues to decline, signaling weakness and what could be recession. The Conference Board reported its Leading Economic Index decreased seven-tenths of a point to 104.6 in September. Separate measures of current and past conditions increased. Justyna Zabinska-La Monica, Justyna Zabinskasenior manager of business cycle La Monica indicators at the Conference Board, said the Leading Economic Index has declined every month since April 2022. “So far, the U.S. economy has shown considerable resilience despite pressures from rising interest rates
and high inflation. Nonetheless, the Conference Board forecasts that this trend will not be sustained for much longer, and a shallow recession is likely in the first half of 2024,” she said. The Leading Index decreased 3.4 percent over the past six months, less than the 4.6 percent decline in the previous six-month span. Weaknesses among leading indicators were less widespread than strengths. For September, six of 10 indicators of the Leading Economic Index retreated — building permits, consumer expectations, interest rate spread, leading credit and new orders indexes and stock prices. New orders for consumer goods increased, while a decrease in average weekly claims for unemployment benefits also bolstered the index. Average weekly manufacturing hours and new orders for capital goods held steady.
The Coincident Economic Index rose three-tenths of a percent to 110.9. The index increased 1.1 percent over the previous six months. For September, all four indicators of the index advanced — industrial production, nonfarm payrolls, personal income and sales. The Lagging Economic Index rose two-tenths of a percent to 118.5. The index has increased two-tenths of a percent over the past three months. For September, four of seven indicators of the index advanced — commercial and industrial financing, consumer credit, the cost of services and inventories. Labor costs retreated, while an increase in the average duration of unemployment also pulled down the index. The average prime rate charged by banks held steady. F
Trends Contributors Opinion Hiring overlooked workers Business Briefs Business People Almanac
OctOber 26-NOvember 8, 2023
The Business Times
Page 21
COMING ATTRACTIONS
n A variety of presentations are planned at the Business Incubator Center in Grand Junction. A small business startup workshop is set for 2 to 4 p.m. Nov. 2 at the center, located at 2591 Legacy Way. The workshop will cover the business planning process, including financing, legal structures, licensing requirements and registration. Admission is $55. A free monthly maker meetup is set for 6 to 8 p.m. Nov. 6 at the GJ Makerspace at the center. A bookkeeping bootcamp is set for 9 a.m. to 2 p.m. Dec. 5. Participants will learn how to set up and track accounting records and what balance sheets, cash flow projections and income statements tell them about their operations. Admission is $75, which will include lunch. To register for or obtain more information about events, programs and services offered at the Business Incubator Center, call (970) 243-5242 or log on to https://gjincubator.org. n The Grand Junction Area Chamber of Commerce has scheduled its health summit for 9 a.m. to 2 p.m. Nov. 1 at the Colorado Mesa University Center ballroom. Admission is $65 for chamber members, $75 for others. To register for or obtain more information about chamber events, log on to https://gjchamber.org or call (970) 242-3214. n A free Coffee Club networking group meeting is set for 9 to 10 a.m. Nov. 17 at FWorks, 325 E. Aspen in Fruita. For more information, log on to https://gjincubator.org or https://fruitachamber.org.
Different applicant pools good places in which to recruit employees Even before the COVID-19 pandemic struck, the labor market tightened across Colorado and especially the Western Slope. Conditions haven’t changed. That makes it more important than ever for organizations to recruit and retain great employees from underrepresented populations. The Western Colorado Human Resource Association hosted an educational session for members featuring employers that have built teams using people from applicant pools that are often unnecessarily overlooked. Those groups include people with developmental disabilities, veterans and individuals who were formerly incarcerated. Vickie Foster, manager of the arc thrift store in Grand Junction, encouraged employers remain aware of their assumptions and biases Carlene to about people with developmental disabilities as Goldthwhaite well as members of other marginalized groups. Foster stressed the importance of meeting employees where they are. Arc promotes a culture of camaraderie and personal connections, she said. The people who work at arc thrift stores tend to love their jobs and enjoy time with their co-workers. Jason Mott, senior strategic business partner in human resources with the Veterans Health Administration, discussed the benefits of hiring veterans. A former Marine, Mott said veterans work well with others from different backgrounds and life experiences. Veterans adapt to different physical environments and culture. Moreover, they lead and work as part of teams under ordinary and extraordinary circumstances. Tami Jo Russell and Kimberly Lindsey of the Freedom Institute joined in the panel discussion to talk about hiring individuals who’ve served time in prison. These people face difficulties when returning to the community, they said. The essential building blocks needed to create new lives are often missing, including stable housing and employment. The Western Slope Work and Gain Education & Employment Skills (WAGEES) program is a community based partnership with the Colorado Department of Corrections that helps people return to the community. Resources include access to computers and assistance with job searches as well as bus passes, career and education mentoring, clothing, housing assistance and a transitional housing program. Many WAGEES care managers have been in prison themselves and understand the challenges of rebuilding their lives
UPCOMING WCHRA PROGRAMS
The Western Colorado Human Resource Association has scheduled presentations on the Family and Medical Insurance (FAMLI) program and recruiting members of Generation Z. n The WCHRA and Colorado Department of Labor and Employment will present a free update on the FAMLI program from 1 to 3 p.m. Nov. 7 at the Mesa County Workforce Center, 512 29 1/2 Road in Grand Junction. The event is open to participants from the business community. n Students from the Society for Human Resource Management chapter at Colorado Mesa University will lead a presentation on recruiting members Generation Z. The presentation is planned as part of the next monthly membership luncheon scheduled for 11:30 a.m. to 1 p.m. Nov. 15 at the Mesa County Workforce Center. WCHRA members may attend at no additional charge. Guests pay $20.
and overcoming addictions and old habits. Dave Knutson, founder of Orion Rising, moderated the panel discussion. Orion Rising provides individual coaching and development services as well as evidence-based human resource services to organizations. Knutson guided the discussion in exploring how to best partner with business leaders to develop, implement and oversee practices, policies and programs that lead to diverse and inclusive workforces. Panelists discussed how their organizations have created and managed human resource practices, policies and programs that encourage employees to embrace opportunities to work with those with diverse experiences and backgrounds. The session also provided information about best practices and trends related to diversity, equity and inclusion — including recruiting and retaining a diverse workforce that meets the needs of an organization. Carlene Goldthwaite is principal of Create Real Growth, which provides expertise to organizational leaders on issues related to people management. She also serves as director of diversity, equity and inclusion for the Western Colorado Human Resource Association. For more information about Create Real Growth, visit the website at www.createrealgrowth.com. For additional information about the WCRHA, log on to www.wchra.org. F
Page 22
The Business Times
OctOber 26-NOvember 8, 2023
Customer service depends on caring attitude If you want to become truly successful in business, you must focus on growing your company through the attraction and retention of customers. That also means providing exceptional customer service. Recall a time when you received a paltry customer service experience — one that left you feeling uncared for, unsatisfied and unhappy. Left with a bad taste in your mouth, you likely won’t do business with that company again. And if you haven’t already, you’ll advise your friends and family not to do business with it either. Now, take a moment and consider the last time you received Marcus an exceptional customer service Straub experience. Reflect on the feeling you had in that moment — how pleasant it was, how satisfied you were and how good you felt. You’ll likely spend your hard-earned money with this amazing company again and tell others all about it. As a business owner, which of these experiences do you want to provide your customers? If you intend to take your company to new heights — to be among the exceptional — you must turn your attention to the level of care you and your team provide and the genuine relationships you build. To deliver consistently exceptional customer service, you must first and foremost demonstrate you care about your customers. Revenues are important, no doubt. But if you don’t truly care, revenues will lag behind what’s possible or even evaporate. The difference between an exceptional customer experience and an awful one lies in the level of care provided to the customer by each person in your business who contributed to that experience.
To earn the loyalty of faithful customers, you — as the owner — must care deeply about them and the quality of their experiences with your business. Caring in business is expressed in both word and deed and is a direct byproduct of the attitudes and behaviors of the people who own and operate the company.
Here’s the key. To earn the loyalty of faithful customers, you — as the owner — must care deeply about them and the quality of their experiences with your business. Caring in business is expressed in both word and deed and is a direct byproduct of the attitudes and behaviors of the people who own and operate the company. Whether you truly care about your customers or not, they can feel it. As a business owner with a profound and innate level of caring, you’ll hire team members who also care deeply and treat them with respect. In turn, they’ll share this same good feeling with customers. The result will be consistently exceptional experiences. The more you and your team care about customers — and consistently demonstrate it — the higher their level of satisfaction will be with you and your products and services. Not only will you become the primary source to fulfill their purchasing wants and needs, you’ll also become the well-deserved recipient of their gracious comments and referrals.
Are you and your team meeting customers with gratitude and a desire to make their lives better? If you do and you keep it up, you’ll build lasting relationships that benefit everyone, especially now as the economy tightens. Given all we’ve gone through in the past three years, there should be more mutual appreciation, gratitude and respect among business owners, team members and customers. Reminded how much we need each other, nobody should take others for granted. Here are two main points to remember. When business owners care about people, they position their companies to create happiness and satisfaction as well as profits. When team members feel cared for by the owners and managers they work for, they’ll pass this feeling along to their customers. Customers will in turn care about the company and provide repeat business. The ultimate key to your lasting success lies in a simple and timeless rule: Treat people the way you want to be treated, and better is a superior choice. The only way to achieve this is if you truly care. How deeply you care will determine the amount of business and success that comes full circle back to you. 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. F
Delaware statutory trusts offer a 1031 exchange tool Watching your investment or commercial property values increase can be satisfying. But when it’s time to sell, capital gains taxes could present a hard pill to swallow. You’ve probably heard of a so-called 1031 like-kind exchange, which could prove useful if you wish to maintain a similar property. Section 1031 of the Internal Revenue Code allows an investor to defer payment of capital gains taxes that could arise from the sale of a business or investment property. Taxes may be deferred by using the proceeds of the sale of the to purchase like-kind real Christopher property estate as long as the investor satisfies West certain conditions. A typical 1031 exchange transaction looks like this: n An investor sells the property, known as the relinquished property, and the proceeds are escrowed with a qualified intermediary (QI). n Through a written agreement with the investor, the QI transfers funds for the purchase of a replacement property. n The investor receives the new property. This process must also follow a specific timeline, taking no more than 180 days. But what if you no longer want to manage your property or tenants? What if you don’t want to take on additional mortgage debt? What if you encounter problems closing on a selected replacement property — the seller could change his or her mind, the inspection could uncover issues with the property or financing can’t be secured within the 180-day time frame? If the exchange fails, it can leave the investor on the hook for paying capital gains taxes on their relinquished property.
DSTs are similar in the way a typical 1031 exchange is structured, but the investor receives beneficial interest in a DST versus a new property.
You may want to consider a Delaware statutory trust (DST) — a 1031 exchange tool. DSTs are similar in the way a typical 1031 exchange is structured, but the investor receives beneficial interest in a DST versus a new property. Investments may be in various property types — including industrial, health care, hospitality, multifamily, office, retail, self-storage and student housing. DSTs allow multiple investors to own fractional interests in a single property or a portfolio of properties. Beneficial interests in DSTs are considered like-kind property for purposes of 1031 exchanges. DST exchanges can offer a variety of advantages, including no management responsibilities (in the hands of an experienced sponsoraffiliated trustee), access to institutional-quality property, lower minimum investments and diversification. Moreover, you can continue to exchange real properties within the DST structure until the investor’s death. Estate planning is another way DSTs can be used by providing equal ownership and flexibility among heirs. For instance, heirs can opt to continue receiving distributions from the investment and may receive the step up in cost basis to help mitigate capital gain liabilities. Heirs may also choose what to do with their inherited portion upon the sale of the property the DST owns. If time is of the essence, a DST could also be a good
backup plan as the time to close could be substantially less than the 180 days of a typical 1031 transaction. Most have minimum investments as low as $100,000, so smaller investors could be eligible. Of course, there are rules. Not all property will qualify for 1031 exchange. As with any investment, there’s risk. Real estate is still subject to economic and market volatility, including that related to supply and demand, inflation and a tenant’s inability to pay rent. You don’t hold title to the property. Instead, you own beneficial interests in the trust and have limited control over the investment. It’s an illiquid investment, and there’s currently no active secondary market for selling your interest. Potentially higher fees also could present a deterrent. There are also other real estate investment vehicles to consider for tax deferral and investment and estate planning, such as an UPREIT (721 Exchange) and qualified opportunity fund (QOF). Depending on your unique cash flow requirements, risk profile, tax issues and wealth planning objectives, there’s a lot to consider. You should discuss the options and risks with your tax, legal and wealth advisors before taking any action. 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. F
OctOber 26-NOvember 8, 2023
The Business Times
Take fiduciary responsibilities seriously Does your company sponsor a qualified retirement plan such as a 401(k)? Are you aware of your responsibilities and associated risks? Does the word fiduciary mean anything to you? It should. What is a fiduciary? Here’s one definition from the Consumer Financial Protection Bureau (www.cfpb.gov): “…someone who manages money or property for someone else. When you’re named a fiduciary and accept the role, you must – by law – manage the person’s money and property for their benefit, not yours.” As the owner or other officer or board member of a company with the purview to choose a qualified retirement plan, plan Janet advisors and associated investment options, bear significant risks and responsibilities. Arrowood you You’re the fiduciary for that plan. According to the IRS: “…a fiduciary is a person who owes a duty of care and trust to another and must act primarily for the benefit of the other in a particular activity. For retirement plans, the law defines the actions that result in fiduciary duties and the extent of those duties.” (https://www.irs.gov/ retirement-plans/retirement-plan-fiduciary-responsibilities) As sponsor and operator of a qualified retirement plan, you must make a number of fiduciary decisions. You may hire someone — a financial advisor, for example — to act as a fiduciary. Hiring a fiduciary is a fiduciary act, so choose wisely. Here are some other examples of fiduciary decisions and responsibilities: n Choosing investments that offer a full range of options to plan participants — your employees. n Following and complying with plan documents. n Carrying out plan duties with care, skill, prudence and diligence as a prudent person would. n Managing and defraying plan expenses. n Diversifying plan investment options.
If you decide to hire a service provider to manage your plan, you could limit some of your liability. You also could give employees control of the investments in their accounts. n Acting in the interests of participants and their beneficiaries. According to the IRS, fiduciary decisions are an essential part of managing and controlling a qualified retirement plan. Since you or someone you hire control or have discretion over plan assets, you’re a fiduciary to the extent of that discretion or control. Fiduciary status is based on the functions performed for the plan, not a title. Not all plan decisions are fiduciary ones. Some are business decisions — whether to establish a plan, include certain features and amend or terminate a plan. According to the IRS, when you take steps to implement these decisions, you or those you hire act for the plan as a fiduciary. If you decide to hire a service provider to manage your plan, you could limit some of your liability. You also could give employees control of the investments in their accounts. Whatever choices you make, always put the best interests of plan participants, your employees, first. Since qualified retirement plans can be complicated — and this article isn’t intended as financial, legal, tax or other advice — consult with the appropriate financial, legal and tax professionals. 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. F
Page 23
Page 24
The Business Times
OctOber 26-NOvember 8, 2023
Truth or lies, what employees say matters A quote about lies often attributed to Mark Twain didn’t actually originate with the American author and humorist. If you consider that fact, along with the misquoted quote, there’s some irony here: “A lie can travel halfway round the world while the truth is putting on its shoes.” For a lot of years, I incorrectly attributed the quote to Twain. While it remains one of my favorite quotes, the credit must go instead to Charles Haddon Spurgeon. He was an English Particular Baptist preacher who attributed that saying to an old proverb in a sermon he delivered on April 1, 1855. Spurgeon remains influential among Christians of various Tim denominations, among whom he’s Haggerty known as the prince of preachers. It’s interesting, too, the sermon was delivered on April Fool’s Day. But I digress. Regardless of who came up with the words, the quote rings true — especially when it comes to the bad, incorrect, misleading and downright awful lies employees sometimes tell about their employers. And this assumes those employers are doing everything correctly. I’ve written before about bad leaders. If you have a
Here’s a good rule of thumb: For every employee who’s badmouthing you, you can rest assured you’re losing 15 times his or her annual salary in revenue.
bad leader turning employees against your company, the math works against you. How much does it cost? A quick Google search reveals numerous estimates. Here’s a good rule of thumb: For every employee who’s badmouthing you, you can rest assured you’re losing 15 times his or her annual salary in revenue. There’s the cost of co-workers who leave your organization because they don’t want to work with a disgruntled employee. There are the customers who get fed up with dealing with this individual and turn to a competitor. Then there’s the lost opportunity cost involved with failing to recruit talented employees who won’t even consider your business because of what they’ve heard. What about neighbors, friends or even church members? Do you believe this disgruntled employee remains silent? Or do you suspect he or she tells everyone
within earshot all the bad things about you and your company? Now, imagine you’re paying this employee $100,000 a year. How much are you losing? The estimates I cited took into account an employer who’d doing everything correctly. What about an organization that doesn’t pay attention to the effects of poor leadership? A typical business in the United States with 100 employees, will have around 8 percent disgruntled employees. Of those eight, two or three will be really disgruntled and try to harm you and your organization. Does what your employees say really matter? Absolutely. Tim 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 vice president of the Grand Junction Kiwanis Club. Reach him at info@timothyhaggerty.com, (610) 737-0496 or www.timothyhaggerty.com. F
Healthy efforts produce numerous and varied rewards It’s been said we’re a society that loves to be rewarded. We want to be rewarded for everything. Whether it’s credit card rewards, fuel points or discounts, reinforcements motivate us to make purchasing decisions. Let’s talk about what rewards you could achieve through living a healthy lifestyle. Decide what your wants, needs and goals look like. Everyone’s list will be different. Rewards can both encourage and motivate you to participate in an activity. Some rewards are instantaneous, like washing your car. Others are long term, such as studying hard for years to earn a degree. One Paula way to view the things you do is to Reece look at the benefits and rewards first and then decide how you’ll achieve them. Maybe you want to participate in water sports. It’s important, then, to learn to swim. Think about all the choices when we’re unaware of the rewards we’re receiving. They’re habits. Many of these habits were instilled in us at a young age. Create awareness in the family so children understand living a healthy lifestyle through food, exercise, hygiene
Exercise constitutes one of the best examples of action followed by reward that anyone can do for themselves.
and safety is a choice. You could benefit from implementing some kind of reward system in your family setting. Decide how this will work for your family. Make it a game. This teaches the family there’s a goal, rules and accountability. For example, your family could make a reward chart for each family member. You might have such categories as chores, exercise, food and school work. Each member of the family works towards a reward each week or each month. Maybe it’s praise for work well done, a family retreat to the park or ice cream. Healthy living rewards are numerous. Exercise constitutes one of the best examples of action followed by reward that anyone can do for themselves. You take care of your body inside and out through cardio, flexibility and strength training. The reward isn’t something that can be bought. It only comes to those who make it happen. Healthy living is more than just exercising. It’s taking
care of you. All of you. Not everyone loves going to the dentist, but everyone loves a great smile. A dazzling smile is a reward of care. Eating a healthy diet, brushing and flossing your teeth every day and visiting the dentist for routine cleanings and checkups all lead to healthy dental hygiene that will reward you for many years. The outcomes of some activities are the rewards — good grades, a productive garden or clean house. What about when you lose your first 5 pounds, quit smoking or save money? All these things have rewards. It’s okay to tell yourself “good job” and reward yourself with something that’s meaningful. Maybe that’s a new pair of jeans, good book or massage. None of the things we do or want just happen. They are a reward of effort. By making choices that lead you closer to your goals, you’ll reap the benefits that living a healthy lifestyle provides. A healthy and fit body is an amazing reward, wouldn’t you agree? 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 242-8746 or visit the website located at www.crossroadsfitness.com. F
OctOber 26-NOvember 8, 2023
The Business Times
Polarities affecting U.S. commerce The forces of globalization have created a complex web of geopolitical relationships in a rapidly changing world where the lines between allies and adversaries become increasingly blurred. The effects on global markets and commerce will only become more profound. Just as in the days of the Cold War, the formation of distinct polarities once again shapes the economic landscape, particularly for the United States and western world. We’ve witnessed in recent years the emergence of new geopolitical polarities with such nations as China, Iran, North Korea and Russia. Driven by shared interests and common objectives, these polarities challenge the traditional alignments and alliances of past. The consequences for commerce Dalida the are significant as these polarities strengthen Bollig and the potential for economic cooperation between the West and these nations dwindles. Historically, the U.S. has thrived on its ability to engage in international trade across a wide spectrum of nations. With the growing polarization of world powers, the number of potential markets for American businesses diminishes and implications of the evolving global landscape reach farther. Reduced market access can have severe economic repercussions. U.S. industries that rely on global trade — from agriculture to technology — are left with fewer options and increased risks. That can affect employment, growth and, ultimately, the well-being of American people. It’s a serious thing when thinking in terms of growth and economic vitality. In this new era of polarities, Europe finds itself at an interesting crossroads. Unlike the Cold War era, Europe no longer holds the same clout as a unified block. The ability of Europe to shape global industry and commerce has waned. Internal divisions and complex relationships with emerging polarities challenge its capacity to lead the western world as it once did.
As global tensions rise, conflicts transcend borders, raising concerns for the stability of international order and trade. Recent events, including attacks by terrorist groups like Hamas on Israeli civilians, underscore the complexities of these alliances. The alignment of such nations as Iran, China and Russia with groups that challenge western values further strain global relations and commerce and surely will increase the divisions between them and the western world. It’s essential for the United States to adapt to the realities of shrinking polarities. The era of the Cold War is behind us, but a new global order emerges. To navigate these turbulent waters, American policymakers must prioritize adaptability, cooperation and diplomacy and work to strengthen alliances. While polarities could reduce the available markets for U.S. businesses, they also open opportunities for innovative strategies and new alliances. The United States and its allies must harness their strengths, invest in cutting-edge industries and engage in effective diplomacy to secure their position in a rapidly evolving world. It’s crucial as well to encourage home-grown talents to innovate and entrepreneurship to thrive. Policy changes promoting a business friendly environment accelerate results. As polarities shift and the market terrain changes, the U.S. must remain agile, seek new partners and explore new avenues for trade and cooperation. The world might be growing more polarized. But with the right approach, the U.S. can still thrive in this complex and interconnected global landscape. 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 243-5232 or visit https://gjincubator.org. Reach Bollig by email at dbollig@gjincubator.org. F
Page 25
News, views and advice you can use
Subscribe today to the journal that means business in the Grand Valley. (970) 424-5133
www.thebusinesstimes.com
Contributors Opinion Bold predictions for 2015 Time to vote government News releases an indicator A new year Business affords more Briefs not-so-bold repeats morelike power and money? of a robust local economy a new opportunity Business People Almanac to meet local needs THE he BUSINESS usiness T T Times IMES
PAGE age 26 22
One of my jobs as editor of a business journal is to follow and report on economic indicators. And I do. A lot. Everything from unemployment rates to real estate sales to tax collections. That’s not to mention the various confidence indexes based on the results of surveys of business owners and leaders. As something of an economics geek, I consider indicators fascinating stuff. Far important, A new year almost always brings an more opportunity for aindicators fresh startoffer and renewed ambition tostatistical do thingssnapshots better. of various aspects of the economy. of like vital signs, to use a medical metaphor. And that’s In business, thatKind usually boils down to providing customers better products useful information to business owners managers. and services faster and at lower cost than competitors. Partand of the process must To demonstrate justwhat how they far my economics include listening to customers to determine actually need geekiness and then extends, I’ve long aspired to come up with own indicator. meeting that need. After all, it does little good to offer the latestmy and greatest if Thewhat Phil you’re Castle selling. Index of Grand Valley Business Conditions nobody actually wants has a nice ring to it, to don’t you think? Tragically, I’veArea yet to Just like the businesses that belong the group, the Grand Junction figure out just starts what to Chamber of Commerce invariably outtrack. the new year with a reassessment of been inspired overwell recent by the the services and resources it provides and how theyweeks, matchthough, with members Phil Castle the I’ve news releases received about businesses needs. Jeff Franklin,number newofchairman of the I’ve chamber board of directors, opening in the Grand Valley, moving into different personifies this approach in describing what he considers his role for thequarters coming and operations. This issue is chock-full stories longIt’s about year:expanding listen to members, determine their needs and of then meetshort thoseand needs. a them. Thewhich list includes Children’s Hospital Colorado, Colorado role with FranklinBurlington is familiarStores, as market president of Bank of Colorado. CraftThe Coffee and will Beertake House, Health Network, Element Outdoors process on aColorado more structured approach in what the chamberand Overland andresumption OakStar Bank. For thoseaptly whocalled haven’t already,tocheck out the coverthe plans as the of a program Listening Business. Under story about the Hotel Melrose in downtown Grand Junction to andidentify the successful program, business owners participate in in-depth interviews barriers to efforts putother that problems historic enterprise back in business. growth to and they encounter. The in thea previous issue reported on plans club. to open a Costco The big newstories year offers good time to join the proverbial Warehouse in Grand Junction welldo as you the impending opening of aTimes? combined As an advertiser or reader,aswhat need from the Business Family Dollar and Dollar Tree store in thegather refurbished Monument Village While business journals traditionally and report the relevant news to Shopping Center. readers, communication isn’t necessarily a one-way street. That’s especially true as can’tand recall a time over past 25more yearsconvenient when I’ve than reported WebIsites e-mail make thethe dialogue ever.on so many new Good businesses openingdon’t or expanding publications exist in a operations. vacuum. They respond to the needs of That’s an of course, of the economic advertisers andindicator, readers. They provide what’s needed.strength of the Grand Valley. And So it’swhat not just about my observations. It’s based on the cumulative decisions of do you need? people a lot smarter than I amcoverage — business ownershelp and keep executives who’ve about elected Is there additional news that would you informed to spend millions and millionsAre of dollars in this area. They know what they’re local business developments? there features that would be interesting or doing, they’ve donethat their homework. Andjobs theya know a good investment when useful?and Is there advice would make your little easier? they It’s seeequally one. important to ask what you don’t need. With limited time to Here’s the best It’s space a leading indicator that signals whattime likely be be produce content andpart. limited in which to publish it, would andwill space subsequent growth in terms of new construction and jobs. better devoted to something else? An indicator news releases isn’t exactly scientific or systematic. What’s good?based Whaton isn’t? What’s needed? What isn’t? Much tous myknow. considerable not every business out releases Let Send us consternation, an e-mail. Comment online on thesends Business Times Web regardless of the newsworthiness ofYou their endeavors. Moreover, I don’t receive all site at www.thebusinesstimes.com. could even write an old-fashioned letter to the written. Although it would makeand sense, at least me, toand send the releases editor if that you’dare like. Your feedback, both positive negative, is to valued releases about businesses to the editor of a business journal. will be carefully considered. But here, at long last, myresult point. new of business openings, Good publications are isthe ofReleases not only about the efforts their staffs, but also relocations expansions offer an anecdotal indicator of economic strength. collaborativeand efforts involving advertisers and readers. And to report, is mostly good. Like the anynews, other I’m goodhappy business, we want to listen to our customers, find out what they need and then meet those needs. Phil It’s Castle is editor the Business Reach him at phil@thebusinesstimes.com a new year. of Please help us Times. to do so. or 424-5133. ✦ F
THE BUSINESS TIMES
609 North Ave., Suite 2, Grand Junction, CO 81501 TEL (970) 424-5133 • FAX (970) 424-5134
Publisher/Owner: Craig R. Hall
Editor: Phil Castle
Reach advertising at: publisher@thebusinesstimes.com Reach the editor at: phil@thebusinesstimes.com.
Subscribe or submit press releases online at www.thebusinesstimes.com The Grand Valley Business Times, a subsidiary of Hall Media Group LLC, is published twice monthly and distributed throughout Grand Junction, Fruita and Palisade. Advertising rates and deadlines are available upon request. Opinions expressed in this publication are those of the writers and do not necessarily reflect the views of the publisher, editor, staff or advertisers. Copyright © 2015 — AllCopyright rights reserved. © 2023 — All rights reserved.
It’s that year when Isn’t thattime whatof elections are all about? resolutions and prognostications abound. We vote every time for some candidate, some My or favorite saying applied to New Year’s law some tax giving the government the resolutions is intosaying basically power or money do thethey’re things we want a bunch of promises break first done. And we do it intothe worstthe way — week mob of January. while won’t predict a rule by votes.And Even with Ithis year’s mostly whole lot,ballot I canI just pretty much accurately mundane received. nail aAs few things that without question seemingly will make news. You will see these are always, thisthe year’s pretty, leads well, with predictable: ballot ■ Prediction one: something of utmost There will be some importance “for the sort of weather children.” I put event, that natural disaster in quotations forora heinousI’ve occurrence reason. witnessed where someone will and experienced be interviewed and say example after example the following: and result after“I’ve result Craig Hall never anything of ourseen public school like that inbeing my about leviathan lifetime.” but It’s “the as if children” this anything when the only Craig Hall personpublic is a required thing education should be about attendee at every is a safe and cleannews environment for all reporting While I in understand children toevent. be educated the basicsmost of people’s perspective can indeed be limited actual education. by, orTocontained within, their own personal put it plainly, our public schools have experiences, is tooabout much to ask tomoney. become prettyitmuch power and consult historical perspectivethere before And for some the unions and bureaucrats, will sayingbesuch a thing? Yes,Which this response can never enough of either. is why my applyare to some comes votes going events. with theBut twowhen schoolitboard to weatherwho and seem natural disasters, I’mtopretty candidates most dedicated sure this is stewards simply history repeating itself. being good of our tax dollars while Same to as get it has millions millions of trying the for schools backand to their original, years. — More important, the planet made it! stated but not sure I believe the statement Whatback didn’t were certain How’s from in the day given species. the direction of thatschools, for perspective? our especially since the feds got ■ Prediction two: When of it comes to a involved with the Department Education crime or something that between — mission of teaching theoccurs three R’s: CynDee humans, other required Skalla andthe Barbara Evanson.attendee at all newsIfreporting eventsbacked is the by person who the two folks the union saysprogressive this: “They outside we’re just the nicest and money get elected, people,more and in“normal” no way did I see something expect ballot measures like this the coming.” Exactly. No after one does guilting citizens into bond bond most of the time when it comes to to build more monuments that won’t neighborstest andscores acquaintances. People should improve and for curriculum be surprised at “woke” what goes time to that gets more by on thefrom day while time in their neighborhoods, towns and denying our kids the basic education with deserve. people they because people they Forknow too many years, Mesaare good. And for the times51 thathas they County School District runshouldn’t like the be shocked — like with politicians, repeat federal government on borrowed money, offenders and spending terrorists and — where’s out of budget creatingthe a interview thatenvironment says, “This doesn’t bad learning outside surprise its me in the least.” Voting more conservative limited mission. ■ Prediction three:would Something members on the board get usgood back willtrack. happen andtrain. the on Or economically, at least slow the government willcounty take credit for it.on The As for the measures themost recent example gas prices, where people ballot, my ovalsissignal no, no, no and no. ask we me really why I want won’tone credit theterm president for Do more for the low gas prices. My answer simple:an same jobs that gave us TinaisPeters, Government never makes of $18 million assessed valuethe ofprice Mir-a-Lago something go down simply takestocredit or simply two more and years of salary folks for news. pricing subjectoffice to whogood run for thisGas office thenisanother many global So, factors. Now there are for a living? no. As with everyone we government to addressing elect, less is answers always more. Most ofsome them of do them to damage keep prices stableoccasionally for Americans, enough — with some but our has none themarein good —government while in office. Someofwho place.more The only things it has intoplace in the even talented continue do damage
OctOber 26-N Ovember 8, 2015 2023 JANUARY 15-28,
long run hurt consumers. Another even out always of office. Like the aforementioned fact is that reaches a certain Peters. My unemployment question is, why are they even level based And whileit’s the elected jobson in the the economy. first place? Unless government brag theYou’d number is low, about powermight and control. think the it’s morecould than just likely thesomeone government did county hire do these something to cause thatpolitical numberaffiliations being low jobs properly without andimpossibility not in a goodsince way.everything Conversely,iswhen — an business picks up, it’s because the voting, people political, especially setting taxes, who need to buyand widgets who the weresurveyor not collecting taxes whatever buying widgets because economy was does while looking over the all the land the contracting to natural (or unnatural, feds own outdue here. government caused) decided we A no vote keepsreasons, the revolving door better buy widgets. Thebureaucrats government moving as some the roles of these had nothing to do with this. to grow. against the people continue ■ Prediction four: In keeping with As for the tube of Proposition HH the things the government I predict the Democrats are lookingdoes, to insert into law government willproposal manipulate the numbers to and the sin tax funding education, make the claim economy my votes are no.the Period. You isdogetting realize betterstate because of how hard it is working your government can simply lowerto help all of us “working Now taxes without any ballotAmericans.” measures, don’t you might always say this you? They say, must“Craig, pass ayou ballot measure to abouttaxes. President because you don’t raise So aObama basic understanding of like him.” in would a sense.conclude I don’t why HH isYou’re on theright ballot know man, but what know this is the a tax increase (go Iback toof thehim firstand his thinking, I don’tto like it or him one part of this column understand whyiota. an Beforeexplanation you go off,ishowever, I didn’t extra needed on HH).like And President Bush hisexpanding bailouts, stimulus Propostion II is and about the role of and his abandoning thetofree to save education in our state givemarket the state even the freecontrol market.ofAnd don’tlives. knowSohim longer our Ikids’ please either.noWhat the government does, and the vote on these. only Lastly, thing itlet’s can talk do, is hurtthe thelocal economy. about Unless it does nothingasorthe putGrand criminals in Politburo also known Junction jail instead of It’s partnering withwhen them,those nothing City Council. no surprise the government willbetter help. Always look elected have the does “I know than you” in at it thisall way, government says solving illswhatever related tothe government come it iswith doing, the name of the too law it up thiswhatever stuff. Problem is, there’s is passing, or to whatever the name goal of much related government. Let’sornot make bureaucracy presenting to throwing the itthemore desirableittoisget elected by people,atexpect the And polarcertainly, opposite vote to occur. money winners. no I guessmeasure what I’m that on a ballot oursaying mayorispro tem perhaps it’sbrainer” time to(insert get outsmarter of our than ownyou calls a “no perspective. plenty of history attitude here).There’s If all the “community leaders” bookson and historicalchances researchareout agree something, it’sthere for to begin not to understand that all of this has them, you. happened Andnotes it will I havebefore. two more of again, irony left whether the topic is people government. for this election cycle. First, or I can’t find The bestonrecommendation is to find information the city ballot measures some abooks or search. try thatIwhole using Google mean,Google I know thing.they There’s a lotcan’t of information on titles the what are, but remember the Great Depression. The truth wasn’t to include in my column sinceisI italready even a in good until theisgovernment got turned my one ballot. How that possible? involved.pretty There’s alsoallplenty of measures research Second, much of these on the medieval warm period when the are linked somehow to education, which planet was much warmer thanyou today should tell you much of what needwith a whole lot lesshow people (and warmer to know about government viewswell its before man was here all). And yep, “education” role in ouratlives. people killing other Myhave votesbeen simply reflect mysurprised belief people sinceshould historygowas first written. government back to its 1787 Maybe some research helpdrive stop limits. With the added bonuswill it will all of of these Otherwise, we’ll many ourtrends. “local leaders” crazy duebe to saying never seen anything liketoit in lack of we’ve microphones and cornerstones our lives. And goodnames way. on. pontificate fromnot or in putatheir publisher of of the the Craig Hall is owner and publisher 424-5133 Business Times. Reach him at 424-5133 or publisher@thebusinesstimes.com. ✦ F
OctOber 26-NOvember 8, 2023
The Business Times
Page 27
Page 28
Opinion Business Briefs Business People Almanac
n STARBUCKS STORE IN GRAND JUNCTION INSTALLS ELECTRIC VEHICLE CHARGERS
A Starbucks store in Grand Junction is among three locations in Colorado that have installed electric vehicle chargers. The Starbucks at 624 Rae Lynn St. installed four direct current fast chargers. The installation is part of an effort to provide chargers at 15 Starbucks locations along a 1,350-mile route between Denver and Seattle — about every 100 miles. Chargers Michael Kobori also were installed in Starbucks stores in Broomfield and Silverthorne. Starbucks joined with Volvo Cars and ChargePoint on the project. Drivers of electric vehicles equipped with standard receptacles will be charged a fee. Drivers of Volvo electric vehicles may use the chargers for free or at preferred rates. “EV charging should be as easy as getting a great cup of coffee — and now it can be,” said Michael Kobori, chief sustainability officer at Starbucks. “We look forward to continuing this partnership with Volvo and ChargePoint, exploring new ways to enhance the Starbucks experience and inviting customers on our journey to become a resource positive company.” Starbucks operates more than 34,000 locations worldwide. For more information, visit www.starbucks.com. n NEW GRAND JUNCTION BUSINESS SERVES COLORADO CRAFT COFFEES AND BEERS Colorado Craft Coffee and Beer House has opened in Grand Junction. Located at 1144 N. 12th St., the business serves locally produced coffees and beers as well as other beverages from across the state. Representatives from the Grand Junction Area Chamber of Commerce participated in a ribbon cutting ceremony celebrating the opening. “We’re pleased to have Colorado Craft Coffee and Beer House as a chamber member,” said Candace Carnahan, president and chief executive officer of the chamber. “We are grateful for businesses like this that keep our community moving forward and our economy strong.” Colorado Craft Coffee and Beer House is open from 7:30 a.m. to 8 p.m. Monday through Thursday, 7:30 a.m. to 9 p.m. Friday and Saturday and 8 a.m. to 5 p.m. Sunday.
The Business Times
SHARE YOUR NEWS
NOTEWORTHY
The Business Times welcomes submissions for free publication in Business Briefs. Email items to phil@thebusinesstimes.com or submit a news release online at www.thebusinesstimes.com.
A business that offers a variety of services and products for outdoor enthusiasts has moved into a new location in downtown Fruita. Element Outdoors and Overland has moved into a newly renovated retail space in the Fruita Arts Recreation Marketplace (FARM) at 125 S. Mulberry St. “The Grand Valley is a wonderful place to inspire exploration and to start any adventure. Fruita shares our community values and the importance Travis Lindley of connecting access to our natural landscapes. We couldn’t be more thrilled to expand and be headquartered in Fruita and at FARM,” said Travis Lindley, founder and owner of Element Outdoors and Overland. The businesses has operated in Fruita for more than five years, offering adventure vehicle rentals, curated trip planning and outfitting services for personal vehicles. The business sells a variety of gear, including awnings and shades; bed and roofrack systems; camp chairs, tables and kitchens; coolers and refrigerators; fuel and water storage; lighting, rooftop tents and storage boxes. Lindley draws on his experiences as a former ranger with the National Park Service to help people prepare before heading into the backcountry. His services include custom trip planning and explaining how various equipment works. Tablet computers that can connect with the Global Positioning System also help customers heading off road. For additional information about Element Outdoors and Overland, call (970) 426-5577 or visit the website located at https://element-outdoors.com.
n INSURANCE AGENCY OFFERS REMINDER: MEDICARE OPEN ENROLLMENT ENDS DEC. 7 Insurance Planning Alternatives, a Grand Junction-based independent broker agency, reminds people age 65 and older the annual open enrollment period for Medicare beneficiaries will end Dec. 7. “Plans change from one year to the next, so it’s important to review your coverage with a licensed Medicare broker every year,” said Greg Coffman, president of IPA. During open enrollment, Medicare Greg Coffman beneficiaries can review, join, switch or drop certain prescription drugs and Medicare Advantage coverage. Coffman said supplemental plans also are available to offer the most comprehensive health care coverage at the lowest price. “Signing up for Medicare Supplement plans or changing plans can seem daunting. But that’s why we are here. Our team is here to guide you every step of the way. We will review your needs and your budget to help you select the best supplement plan for you.” For more information about IPA, call (970) 242-7526 or visit www.ipagj.com. n ALPINE BANK ANNOUNCES PLANS TO PAY QUARTERLY CASH DIVIDENDS Alpine Banks of Colorado announced plans to pay quarterly cash dividends on Oct. 23. The bank announced plans to pay a dividend of 20 cents per class B nonvoting common share and $30 per class A voting common share. Those dividends are unchanged from the previous quarter. A $6.6 billion employee-owned organization headquartered in Glenwood Springs, Alpine Bank operates locations across Colorado. For additional information, visit www.alpinebank.com. F
Pet project: Howl-o-ween benefit event set for Oct. 28 Registration is under way for the Howl-ween benefit event for the Roice-Hurst Humane Society. The Roice-Hurst Humane Society will join with the Greater Grand Junction Sports Commission to host the 5-kilometer and 2-kilometer fun runs and dog walks scheduled for Oct. 28 at Las Colonias Park in Grand Junction. Check-in is set to start at 10 a.m. The races will begin at 11 a.m., followed at noon by a party featuring live music, food trucks and a pet costume contest. “It’s a pleasure to partner with the Grand Junction Sports Commission once again for the Howl-o-ween 5K,” said Anna Stout, chief executive officer of the Roice-Hurst Humane Society. “There’s nothing better than an autumn morning walk or run with your dog, especially while surrounded by dozens of pets in adorable costumes.”
OctOber 26-NOvember 8, 2023
Participants can choose between running or walking the 5K course through Las Colonias Park to the Roice-Hurst shelter and back or a 2K route around the park. People and their dogs are encouraged to participate in costume. Registration is $25 in advance and $30 on race day for people and free for well-behaved, leashed dogs. Participants who bring their Roice-Hurst alumni canine will receive 25 percent off the fee using the code RH-ALUM. To register or obtain more information, visit the website at https://RHhumanesociety.org/5K. Proceeds will support pets and programs at Roice-Hurst Humane Society. The society operates a nonprofit animal shelter that provides care and adoption services for dogs and cats as well as programs and resources to help people keep and care for their pets. F
OctOber 26-NOvember 8, 2023
The Business Times
Page 29
Business Briefs Business Briefs Business Briefs Business Briefs Business People Almanac Business People Business People Almanac Business People Almanac
Page 30
n FIRM ANNOUNCES DESIGNATION, INDUCTIONS INTO CIRCLE
Brian Bray, the managing broker of Bray Commercial based in Grand Junction, has received the Society of Industrial & Office Realtors designation. Brian Donaldson and John Duffy were inducted into the Bray Brian Bray & Co. Real Estate Circle of Excellence. The Society of Industrial & Office Realtors designation is bestowed on those working in commercial real estate with a history in brokerage, fee-based services and executive management. Brian Donaldson Bray is among only 72 members of the society in Colorado and 3,700 worldwide. “Receiving this prestigious designation is a testament to Brian’s experience and commitment to the profession, supported John Duffy by his strong work ethic,” said Robert Bray, chief executive officer of Bray & Co. Real Estate. In addition to his work, Brian Bray is involved in the community, giving back in various roles. Donaldson joined the Circle of Excellence in 2020. Duffy joined in 2022. Bray & Co. hosted its first Circle of Excellence dinner since 2019. The Oct. 5 event at the Maison La Belle Vie in Palisade honored commercial and residential real estate agents who’ve been affiliated with Bray & Co. for a decade or more and have posted more than $60 million in sales. Robert Bray; Michelle Urlacher, president of Bray & Co.; and Stewart Cruickshank, sales manager, praised agents for their pursuit of excellence and committment to the real estate industry. Bray & Co. serves Mesa County as well as Delta, Garfield and Montrose counties. The company provides a range of services related to residential and commercial real estate as well as construction, development, maintenance and property management. For more information, call (970) 242-3647 or visit www.brayandco.com.
The Business Times
SHARE YOUR NEWS The Business Times welcomes submissions for free publication in Business People and the Almanac calendar of events. Submissions may be emailed to phil@thebusinesstimes.com or submitted online at the website at www.thebusinesstimes.com. n REAL ESTATE FIRM HONORS TOP AGENT FOR SEPTEMBER Toni Heiden was honored as the top-performing agent for September at Heiden Homes Realty in Grand Junction. Heiden posted the highest dollar volume in sales and most closed transactions for Toni Heiden the month. The owner of Heiden Homes Realty draws on 45 years of experience in the Western Colorado real estate market. She received emeritus status from the National Association of Realtors as well as emertius status as a certified residential specialist. Heiden Homes Realty operates office at 735 Rood Ave. For more information about properties available for sale or rent, call (970) 245-7777 or visit www.heidenhomes.com. n NEW DIRECTOR APPOINTED AT REVENUE DEPARTMENT Heidi Humphreys has been appointed executive director of the Colorado Department of Revenue. “It’s a great honor to be able to serve the administration in this capacity” Humphreys said. “Our role at the department is unique, our services are essential for many Coloradans and that means we have an incredible impact on people’s lives.” Humphreys has worked at the Colorado Department of Revenue since 2015 as deputy executive director. She previously held administrative roles with the Colorado Department of Transportation and Colorado Department of Labor and Employment. She also served as a workforce training coordinator at Colorado Mountain College. She holds degrees from Texas Woman’s University and Colorado State University. F
OctOber 26-NOvember 8, 2023
Oct. 26 n Welcome Thursday Friends networking group, noon to 1 p.m., Dragon Treasure, 576 Kokopelli Drive, Fruita. 858-3894 or https://fruitachamber.org n Young Professionals Network of Mesa County after hours, 5:30 to 7:30 p.m., Edgewater Brewery, 905 Struthers Ave., Grand Junction. www.ypnmc.org Nov. 1 n Fruita and Palisade chambers of commerce Community over Coffee discussion with local, state and national officials, 8 to 10 a.m., Deroco Cellars, 785 Elberta Ave., Palisade. https://fruitachamber.org or www.palisadecoco.com. n Grand Junction Area Chamber of Commerce health summit, 9 a.m. to 2 p.m., Colorado Mesa University Center ballroom. Admission $65 for chamber members, $75 for others. 242-3214 or https://gjchamber.org n Veteran-owned business luncheon, 11 a.m. to 1 p.m., Western Region One Source, 482 28 Road, Grand Junction. https://fruitachamber.org or 858-3894 Nov. 2 n Fruita Area Chamber of Commerce Women in Business networking lunch, noon to 1 p.m., Adobe Creek National Golf Club, 876 18 1/2 Road, Fruita. Admission $15 for chamber members, $25 for others. https://fruitachamber.org or 858-3894 n Business startup workshop, 2 to 4 p.m., Business Incubator Center, 2591 Legacy Way, Grand Junction. Admission $55 https://gjincubator.org Nov. 6 n Free monthly maker meetup, 6 to 8 p.m., GJ Makerspace at the Business Incubator Center. 243-5242 or https://gjincubator.org Nov. 7 n Fruita Area Chamber of Commerce Women in Business entrepreneurship luncheon, 11 a.m. to 1 p.m., Wine Country Inn, 777 Grande River Drive, Palisade. Admission $40 for chamber members, $50 for others. https://fruitachamber.org or 858-3894 n Western Colorado Human Resource Association free presentation on Family and Medical Insurance (FAMLI) program, 1 to 3 p.m., Mesa County Workforce Center, 512 29 1/2 Road, Grand Junction www.wchra.org Nov. 8 n Young Professionals Network of Mesa County before hours, 7 to 8 a.m., Main Street Bagels, 559 Main St., Grand Junction. www.ypnmc.org n Grand Junction Area Chamber of Commerce Networking at Noon, noon to 1 p.m., Devil’s Kitchen, 840 Kennedy Ave. Admission $20 for chamber members, $25 for others. 242-3214 or https://gjchamber.org Upcoming n Western Colorado Human Resource Association monthly membership luncheon and presentation on recruiting members of Generation Z, 11:30 a.m. to 1 p.m. Nov. 15, Mesa County Workforce Center. WCHRA members may attend at no additional charge. Guests pay $20. www.wchra.org n Young Professionals Network of Mesa County lunch conversation, noon to 1 p.m. Nov. 15, Mesa County Workforce Center. www.ypnmc.org n Welcome Thursday Friends networking group, noon to 1 p.m. Nov. 16, Cattlemen’s Cafe & Catering, 436 U.S. Highway 6, Fruita. 858-3894 or https://fruitachamber.org n Free Coffee Club networking group meeting and presentation on the Mesa County Enterprise Zone, 9 to 10 a.m. Nov. 17, FWorks, 325 E. Aspen Ave., Fruita https://fruitachamber.org or 858-3894 n Bookkeeping bootcamp, 9 a.m. to 2 p.m. Dec. 5, Business Incubator Center. Admission $75, which includes lunch. https://gjincubator.org or 243-5242 n Business startup workshop, 2 to 4 p.m. Dec. 7, Business Incubator Center. Admission $55. 243-5242 or https://gjincubator.org n Fruita Area Chamber of Commerce business after hours event, 5:30 to 7 p.m. Dec. 14, Alpine Bank, 129 N. Park Square. Admission $5 for chamber members, $10 for others. https://fruitachamber.org or 858-3894 n Welcome Thursday Friends networking group, noon to 1 p.m. Dec. 21, Qdoba, 401 Jurassic Ave., Unit 2, Fruita. https://fruitachamber.org or 858-3894 F
OctOber 26-NOvember 8, 2023
The Business Times
Page 31
Page 32
The Business Times
OctOber 26-NOvember 8, 2023