THE BUSINESS T IMES News NOVEMBER 25-DECEMBER 8, 2021
THE DEFINITIVE SOURCE FOR GRAND JUNCTION BUSINESS NEWS SINCE 1994
In this issue
n Record lending
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A federal agency backed nearly $34 million in business lending in Mesa County as part of a record year statewide.
n Health care affair
Trends A game Contributors changer
VOLUME 28, ISSUE 22
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Opinion Business Briefs 6 Business People Almanac
Three generations of the O’Dell family have cared for patients at Community Hospital in Grand Junction.
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n Unifying effort
An upcoming member vote constitutes the next step in a proposed merger involving a Western Colorado credit union.
n Slower growth?
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A decline in new business filings in Colorado could portend slower growth in the face of mounting challenges.
n Lower slower The unemployment rate keeps trending downward in Mesa County, but at a slow pace.
n Entrepreneur makes it her businesses to quantify the benefits of sports. See page 2 Jennifer Stoll provides research and consulting services to help define the benefits of sports events and sports tourism.
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n Second chances
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Applicants with criminal records offer an untapped pool of talent for employers struggling to fill job openings.
n Departments Almanac Business Briefs Business People Contributors News Opinion Trends
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Kim Johansen photo courtesy Stoll Strategies
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November 25-December 8, 2021
SBA-backed Trends lending nears $34 million in Contributors Mesa County Opinion West Slope loans contribute to record fiscal year statewide
Business Briefs Business People Almanac
A federal agency backed nearly $34 million in business lending in Mesa County as part of a record-breaking fiscal year in Colorado. According to the Colorado district office of the U.S. Small Business Adminstration, 35 loans worth a combined $33.8 million were issued in Mesa County under the SBA 7 (a) and 504 programs during the 2021 fiscal year. Two more third party loans were issued under the 504 program. Statewide, 1,965 loans worth a total of nearly $1.4 billion were issued Frances Padilla under the 7(a), 504 and microlending programs. That’s an increase over the 2020 fiscal year of more than 30 percent in loan approvals and nearly 60 percent in dollar volume — as well as the largest dollar volume ever processed by the Colorado office. Nationwide, the SBA backed more than 61,000 loans worth a collective $44.8 billion, also record Isabella Guzman levels for traditional lending.
The SBA doesn’t make direct loans through its 7(a) general guarantee program offering financing for equipment, land and working capital or 504 program for acquiring buildings, land, equipment and other fixed assets. By guaranteeing repayment of a portion of the loans, the agency enables lenders to extend financing to businesses that might not qualify under conventional terms. Frances Padilla, director of the Colorado district office, said demand for traditional lending increased as the Paycheck Protection Program and other COVID-19 pandemic relief programs expired. “Our lending partners have once again stepped up to fill the capital gap with our regular loan guarantee programs,” Padilla said. “As the Colorado district office moves towards business as normal, we all look forward to reengaging with the small business community over the coming months.” SBA Administrator Isabella Casillas Guzman said the agency delivered on it’s mission to help small businesses access capital, but more work remains. “While progress has been made, our data also tells a deeper story: Historic inequities in accessing capital persist, and we must do more to lower the barriers of entry to opportunity for all our entrepreneurs.” In Mesa County, 2021 fiscal year lending levels were well below those for 2020. But 2,751 loans worth a combined $81.7 million were issued last year under the Paycheck Protection Program intended to keep employees on payrolls in the midst of the pandemic and related restrictions. For the 2019 fiscal year, 29 loans worth a total of almost $17 million were issued in Mesa County under the 7(a) and 504 programs. See LENDING page 17
Jennifer Stoll, founder and principal of Stoll Strategies based in Grand Junction, provides research and consulting services defining the benefits of sporting events and sports tourism. She previously worked as director of a Grand Junction sports commission. (Kim Johansen photo courtesy Stoll Strategies)
Game changer Grand Valley entrepreneur defines many benefits of sports
T
here’s more than fun to games. Jennifer Stoll makes it her business to quantify just how much more. Stoll believes it’s important to recognize the role of sports in generating billions of dollars in direct and indirect spending, building tax bases and contributing to economic development. That’s not to mention less tangible, but no less meaningful, benefits. “This is such a part of the fabric of our community.” The first executive director of the Greater Grand Junction Sports Commission, Stoll subsequently launched Stoll Strategies. In three years, she’s provided a range of research and consulting services to clients across the United States and around the world. She plans to share more of her expertise at an event in Spain. She’s scheduled to join in a keynote panel presentation on Nov. 25 at the World Tourism Organization World Sports Tourism Congress. An agency of the United Nations, the World Tourism Organization promotes tourism as a contributor to economic development. Sports and sports-related tourism is part of that, Stoll says. She’ll report on trends in sports and physical activities from professional to amateur to recreational levels. Stoll says she was honored to be invited to speak at the two-day conference in Lloret del Mar, a city on the Mediterranean Sea about 50 miles northeast of Barcelona. She expects the event to attract participants from around the world. While she’s spoke at other conferences and events, the World Sports Tourism Congress constitutes one of the most significant, Stoll says. Moreover, she says she’s excited to achieve one of her goals for the year in becoming involved in
FOR YOUR INFORMATION For more informtion about Stoll Strategies, send an email to Jennifer@StollStrategies.com or visit www.StollStrategies.com. something international. “I think this is something international.” Stoll brings to her endeavors a combination of experience, education and passion for sports and sports management. She played softball at Colorado Mesa University in Grand Junction while earning a bachelor’s degree in sports management. She went on to earn a master’s degree in sports administration from the University of Louisville in Kentucky. She landed her first job out of graduate school with the PGA of America. She was involved in Ryder Cup matches in Kentucky in 2008 and Senior PGA Championship events in 2009 and 2010. Stoll returned to Grand Junction to help launch the Greater Grand Junction Sports Commission, a collaborative effort of CMU, Mesa County, the cities of Fruita and Grand Junction and town of Palisade. The commission has been involved in bringing a variety of events to Grand Junction, including softball tournaments and collegiate cycling competitions. The commission also has been involved with the Special Olympics state summer games and Rim Rock Run. Even as she was working with the commisison, Stoll continued working on her education. She received a doctoral degree in sports management from Troy University. See CHANGER page 18
STORY BY PHIL CASTLE
November 25-December 8, 2021
The Business Times
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THE he B BUSINESS usiness T T Times IMES
PPAGE age 4 4
November J25-D ecember 8, 2015 2021 ANUARY 15-28,
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well-rounded perspective to new Mesa County role Phil Castle
as well as New England and Canada. Whidden said people who work in information technology aren’t just “geeks,” Frank Whidden brings what he but offer an important perspective because considers a well-rounded perspective to his they’re familiar with nearly every aspect of new job as Mesa County administrator. operations and how work gets done. They Whidden worked also tend to think about new and potentially in information better ways of doing things in asking and technology and holds answering “what if ” questions. “They know a master’s degree in how to effect change in an organization.” computer information Whidden expects to bring that same systems. But he also approach to his duties as administrator. holds a doctoral Whidden said it’s his role to help degree in applied county commissioners make and then management and implement decisions. The commissioners Three generations of the O’Dell family have cared for patients at Community decision making and in turn represent the residents of the Frank over Whidden Hospitalforin more Grand Junction the years, from left: Dr. Ryan O’Dell, worked than county and express their will, he said. “We Cindy Buller, Vernon O’Dell, Amanda Coltrinari and Dr. Steven O’Dell. 20 years as aDr.minister. Whidden has work for the people.” Ryan O’Dell recently returned to the Grand Valley to practice with Surgical worked for large and small organizations Whidden said he also considers himself Associates of theand Grand Valley. His father, Steven, and grandfather, Vernon, in both the private public sectors. a liaison between the commissioners and haveWhidden retired. expects Buller works as a registered nurse and Coltrinari a family nurse to draw on all of his county staff, and one of the priorities is to practitioner. (Photo courtesy Community Hospital) experiences in helping Mesa County make sure employees feel valued. Whidden commissioners make and carry out decisions. said he hopes not only to improve morale, Valuing staff and making the county but also take steps that will make Mesa an employer of choice is among the County an organization for which people priorities, Whidden said. So is planning want to work. that results in sustainable funding and Meanwhile, Whidden expects the balanced budgets on a long-term basis. county to continue policies and initiatives Meanwhile, Mesa County will that support local business and economic continue to pursue efforts that promote a development. There are additional steps Phil Castle time included house calls. friendly business environment and that can be taken to make it easier for local The Business Times Coltrinari said the family still jokes economic development, Whidden said. businesses to sell products and services to about how he’d come home late for dinner, Whidden officially began working as the county, he added. Growing up the son and grandson of but wasn’t hungry because he’d eaten at county administrator at the beginning of Mesa County will keep working with doctors, Ryan O’Dell never doubted he’d the homes were he’d stopped for house the year. He succeeds Tom Fisher, who was other government entities, organizations one day join in the family business. calls. hired as county manager in Summit and institutions on fostering an environment Now that he’s returned to the Medicine was a frequent topic of County, Utah. that supports existing businesses and Grand Valley, he’s the third generation discussion at family gatherings, Coltinari Whidden joined Mesa County in attracts new businesses, he said. of physicians to care for patients at said. “It was always a conversation growing August 2011 as information technology Whidden said there could be a Community Hospital in Grand Junction. up.” director. In April 2014, he became deputy opportunities to encourage the additional The 34-year-old O’Dell joined Buller said she remembers playing county administrator for resource development of businesses that provide Surgical Associates of the Grand Valley. with her father’s doctor bag as a child. management in a staffing reorganization services to the agricultural industry as well While he practices as a general surgeon, he Ryan O’Dell said he sometimes joined that eliminated four director positions. as promote Mesa County as a distribution has a special interest in reflux procedures, his father on rounds on weekends. Before joining Mesa County, for the region. complex hernia repairs and colorectal center Of course, health care has changed Whidden worked for a company providing The important thing is to consider procedures. over the years, members of the family said. information technology services to issues from a well-rounded perspective, His father, 67-year-old Steven O’Dell, Ryan O’Dell cited technological colleges and universities. In that role, he Whidden said. “We won’t be myopic as we also practiced as a general surgeon before advances as one of the biggest changes, managed IT systems and services for look at things.” retiring. His grandfather, 92-year-old including diagnostic techniques that have institutions in Alabama, Arizona, Illinois Vernon O’Dell, was a family practitioner evolved beyond the ✦ X-rays and laboratory and anesthesiologist before his retirement. tests upon which his grandfather relied. All three hold degrees as doctors of Steve O’Dell was among the first osteopathic medicine. surgeons in the Grand Valley to use Other members of the family also laproscopic procedures to access the inside work in medicine and care for patients at of the abdomen without the need for large Community Hospital. incisions. Cindy Buller, Vernon O’Dell’s At the same time, though, an daughter, is a registered nurse whose career increasingly regulatory environment and has included work in the post-anesthesia changes in billing have made it more care unit. challenging for doctors and nurses to focus Her daughter, Amanda Coltrinari, on patient care. works as a family nurse practitioner with “In one word, government,” Vernon Western Medical Associates of the Grand O’Dell said. Valley. Working in the family business “Medicine has been very good to this remains both a calling and passion, Ryan family. Everyone has enjoyed the work,” O’Dell said — one that enables members Vernon O’Dell said. “We all love it.” of the family to work together. “It brings a Vernon O’Dell came to the Grand fun dynamic to the relationships.” Valley in the 1950s, and his practice at that F The Business Times
Health care family affair for three generations at Community Hospital
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Grande River Vineyards announces new releases as well as club and dinner Grande River Vineyards in Palisade has released five new wines and launched a new Legacy Wine Club. A wine dinner also is planned for January at the nearby Wine Country Inn to introduce the new releases. “We’re giving our new wine club members a preview of our first releases,” said Richard Tally, president of Ten Acre Winery, which will operate under the Grande River Vineyards brand. “Our Wine Country Inn Executive Chef Chad Griffith is designing a menu especially to showcase those wines.” Richard and Jean Tally, owners of the Wine Country Inn, purchased Grande River Vineyards earlier this year. Richard Tally said Legacy Wine Club members who sign up on the new website at www.GrandeRiverVineyards.com will sample the 2019 aromella and cabernet franc as well as the 2020 merlot, riesling nonvintage and primitivo wines. A 2018 sauvignon blanc soon will follow. Former Grande River Vineyard wine club members must log on to the new website and join as new members. A full lineup of varietals will be released in the spring. Other releases are scheduled for March, June and September. Rainer Thoma, winemaker and Ten Acre Farms vineyard manager, said bottling is under way and he expects a soft opening early in December in time for holiday gifts. “Watch our website and social media for an announcement that we are open for business.” Manager Dan Vice said the Tallys and staff have upgraded infrastructure as well as renovated and refurbished the tasting room and loft. The upstairs lounge area will serve as a space for food service created by Griffith. The area will be available for rental for events and meetings as well as for friends who’d like to gather for a flight of wine. The staff also is organizing displays of wine paraphernalia as well as cooking aids, logo goods and specialty foods. “While we honor our legacy as an
Jean and Richard Tally, standing, and their daughter, Anne Tally, oversee operations at Grande River Vineyards as well as the nearby Wine Country Inn. (Business Times photo by Phil Castle) historic winery, we are a totally new winery operation,” Vice said. “I think our patrons will be happy with the upgrade.” The inaugural Legacy Wine Club dinner is set for 6:30 p.m. Jan. 22 at the Wine Country Inn. The event will be open to Legacy Wine Club members only. Admission is $80. A room rate of $108 also will be available for lodging. Reservations are available only by telephone by calling 464-5777. F
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November 25-December 8, 2021
Vote next step in West Slope credit union merger Members of a Western Colorado credit union will vote on a merger expected to expand access to financial products and services in the region. The Dec. 30 vote constitutes the next step in the process to merge Western Rockies Federal Credit Union based in Grand Junction with Canvas Credit Union based in Englewood. The boards of the two credit unions Kristi Porter have approved the merger, as have the State of Colorado and National Credit Union Association. Kristi Porter, president and chief executive officer of Western Rockies Federal Credit Union, said she’s excited about the benefits of a merger. “It is very exciting to see what was once an idea become a reality. This means so
much to me because I know with Canvas we can provide even more value to our team, our members and our entire community.” Todd Marksberry, president and CEO of Canvas Credit Union, said he’s also looking forward to the relationship. “We are eager to work in partnership with Western Rockies FCU to continue Todd Marksberry growing the 85-year legacy they have built.” The three Western Rockies Federal Credit Union branches in Grand Junction, Fruita and Rifle will remain open to serve its 14,000 members. The 40 employees will join Canvas Credit Union. Canvas Credit Union operates a total of 30 branches
throughout the Denver metropolitan area and northern Colorado in seving nearly 264,000 members. The merger would expand that operation into Western Colorado with the potential to open additional branches. The merger also would bring more financial products and services to the region. “Our team has been dreaming about how we can expand our impact well beyond the Front Range,” Marksberry said. “The opportunity to welcome the Western Rockies Federal Credit Union members and team to our Canvas family opens the door to manifest even more positive change for people across Colorado.” Tansley Stearns, chief people and strategy officer at Canvas, said the credit union will respond to what members say they want. “Canvas’ model begins with listening first.” F
Pinnacol announces 2022 rate decreases for workers’ comp
The largest workers’ compensation insurer in Colorado expects to continue to lower rates in 2022. Pinnacol Assurance announced plans to lower rates an average of 11 percent for its more than 53,000 policyholders in the state. The decrease will be nearly double that for 2021. With decreases in each of the last seven years, rates have dropped a total of 40 percent. The company also announced plans to Phil Kalin issue about $40 million in general dividends to customers in 2022. “Pinnacol is proud to be offering it’s largest rate decrease in more than a decade,” said Phil Kalin, president and chief executive officer. “We’re in a position to do this — and to have offered sizable general dividends to our customers for the past seven years — as a result of our financial strength.” The rate change will vary based on the characteristics of each business and take into account classificaiton codes, payroll and safety experience. Pinnacol Assurance also returns to customers a portion of company surplus. The company announced its intent to issue about $40 million in dividends in 2022. The dividends will be based on 2021 financial results, set in February and issued no later than April. Pinnacol Assurance issued $50 million in dividends in 2021, nearly $1.5 million of that going to businesses based in Mesa County. Pinnacol has issued $370 million in dividends since 2016. “The adequacy of our rates is crucial to Pinnacol’s financial strength, our ability to compete and the stability of Colorado’s workers’ compensation marketplace,” Kalin said. “We continue to be pleased to offer the lowest possible rates to our customers while maintaining our financial viability.” F
November 25-December 8, 2021
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November 25-December 8, 2021
Dip in Colorado filings could portend slower growth A decline in new business filings in Colorado could portend slower growth in the face of mounting challenges. “Businesses have expressed concern about the impacts of increased inflation as well as supply chain constraints at a time when consumer demand for goods and services is increasing. COVID-19 variants and worker shortages also remain a concern,” said Rich Wobbekind, senior economist and faculty director of the business research division of the Leeds School of Business at the University of Colorado. The division compiles quarterly reports on business filings based on statistics from the Colorado Secretary of State’s Office. For the third quarter, 38,211 new business filings were recorded. New filings fell 2.6 percent from the second quarter and 1.2 percent from the third quarter of 2020. New filings constitute a leading indicator of business and job growth.
Other indicators, including gross domestic product and employment, reflected continued growth. “While the signs of recovery are encouraging, we still have a long road ahead until the recovery is felt by all Coloradans,” said Jena Griswold, Colorado secretary of state. For the 12 months ending in the third quarter, 156,833 new entity filings were recorded. That’s an increase of 21.5 percent over the same span a year ago. A total of 162,260 renewals for existing entities were recorded in the third quarter, up 7.9 percent from last year. For the 12 months ending in the third quarter, 639,244 renewals were recorded, up 5.6 percent from the same span a year before. Dissolution filings also increased in the third quarter, however, climbing 8 percent from a year ago to 9,137. For the 12 months ending in the third quarter, 39,094 dissolution
filings were recorded. That’s up 9.8 percent from the same span the year before. The overall number of companies, corporations and other entities continues to increase in Colorado. For the third quarter, there were 840,905 entities in good standing in the state, up 7.8 percent from last year. Gross domestic product, the broad measure of goods and services produced in the state, increased 11.8 percent between the second quarters of 2020 and 2021. Nonfarm payrolls grew 104,600 between October 2020 and 2021, a 3.9 percent increase. Prices also have climbed, however. Home prices in Colorado rose 13.8 percent between the second quarters of 2020 and 2021. Retail gasoline prices have increased 58 percent year over year. F
Waivers proposed for Colorado fees for business filings
Nearly $17 million in fees Colorado businesses pay to file documents with the state govenrment would be waived under a proposed program. Colorado Secretary of State Jena Griswold announced the plan in collaboration with the governor’s office as part of annual budget requests. “Supporting Colorado’s small businesses is essential Jena Griswold to our communities and economy,” she said “That’s why we’re working to cut fees for the state’s business owners.” The proposed waivers would apply to businesses filing documents during the 2022-2023 fiscal year beginning July 1 and include fees for new business registrations, annual business renewals, registrations of new business trade names, renewals of trade names and updates to business information. Those are the five most common filing fees most businesses in Colorado pay to remain in good standing with the state. The waiver package would reduce filing fees to $1. The office would retain the $1 fee to continue the credit card transaction processes used to confirm identities and reduce fraud within the business registry. The $17 million in business fees that the secretary of state seeks to waive is part of a cross-government fee waiver effort with the governor’s office. In the proposed fee waiver package, the secretary of state’s office would use general fund dollars to offset loss of revenue from the waivers. The reduction in filing fees under the program would remain in place during Fiscal Year 2022-23 until the amount of the general fund transfer is exhausted. “As secretary of state, I will always strive to cut red tape and reduce barriers for Colorado entrepreneurs so they can continue to innovate and create businesses that provide good-paying jobs for hard-working Coloradans,” Griswold said. F
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County and city move ahead on 29 Road exchange Mesa County and the City of Grand Junction have entered into an agreement to proceed on work on a proposed interchange on Interstate Highway 70 at 29 Road. The memorandum of understanding establishes agency responsibilities for work on environmental clearances and federal and state approvals as required by the Colorado Department Janet Rowland of Transportation interchange approval process. The agreement also denotes the local share of the cost of the project will be divided equally. “This is a project that most residents of Mesa County have wanted for a long time,” said Mesa County Commissioner Janet Rowland. “We are thankful to have
a good working relationship with the City of Grand Junction so that we can partner on this important project.” Grand Junction Mayor Chuck McDaniel agreed. “Maintaining a well-planned transportation network is important to residents and our local economy. Projects like these add capacity to our network and improve the ways we move within the city.” Chuck McDaniel Mesa County and the City of Grand Junction conducted a study between 2018 and 2020 to assess the need and overall vision for improved access to I-70 between the existing Horizon Drive and I-70 Business interchanges. The study considered existing and future transportation conditions and the potential benefits
and effects of a new interchange long included in local and regional transportation plans. A detailed alternatives analysis process resulted in the recommendation of 29 Road as the preferred location for a new interchange at I-70, a roadway connection to the north of I-70 and improvements on 29 Road between I-70 and Patterson Road. Mesa County and the City of Grand Junction have secured funding for an environmental clearance study of the recommended improvements. Funding for interchange construction and related 29 Road improvements haven’t yet been identified, so the timing of construction remains uncertain. The interchange approval process is expected to take about three years to complete. F
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November 25-December 8, 2021
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November 25-December 8, 2021
Federation encourages consumers to shop small
A business advocacy group has asked Colorado consumers to allocate some of their holiday shopping time and money for small firms. “Shopping small is a good thing to do all year round, and this Saturday is a good reminder why,” said Tony Gagliardi, Colorado state director for the National Federation of Tony Gagliardi Independent Business. What’s dubbed as Small Business Saturday falls on Nov. 27 — the day after Black Friday and two days before Cyber Monday. American Express established Small Business Saturday in 2010. The U.S. Small Business Administration has been an official cosponsor since 2011. Many small businesses participate in the event by offering discounts, giveaways and other promotions. In 2020, shoppers at independent retailers and restaurants in the United States spent a total of $19.8 billion “It’s a great time to reacquaint yourself with the small businesses around you, the owners who gave most of us our first jobs and your neighbors whom you might run into,” Gagliardi said. “This is a grim time for small businesses. So as never before, every little bit helps. If your local small businesses can ring up just a tiny bit more in sales, that could be the margin of difference between staying open for business or having to close up shop for good, the margin of difference between being able to keep an employee or having to let him or her go.” Gagliardi said small business owners face several challenges. The NFIB reported in its latest monthly jobs report that 49 percent of members reported job openings they couldn’t fill despite the record-high wages they’re offering. According to the results of a separate COVID-19 pandemic poll conducted by the NFIB, 62 percent of small business owners said supply chain disruptions are worse now than three months ago, and 90 percent expected the situation to continue for five months or longer. In the results of its latest monthly Small Business Economic Trends report, the NFIB said the proportion of small business owners who said they expect the economy to improve in coming months fell four points in October. At a net negative 37 percent, more respondents expected worsening conditions. That proportion has dropped 17 points over the past three months to its lowest level since November 2012. F
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Nonprofits join in annual fund-raiser
A total of 48 nonprofit agencies serving Mesa County residents will join in the latest Colorado Gives Day and efforts to raise $325,000 to help fund their endeavors. The 2021 Colorado Gives Day is set for Dec. 7. The event offers participants a 24-hour period in which to make online donations to the charities of their choice on www.ColoradoGives.org. Participating charities receive 100 percent of online donations as well as a portion of a $1 million incentive fund provided by the Community First Foundation and FirstBank. In Grand Junction, Kannah Creek Brewing also will support the effort with a fund-raiser set for 11 a.m. to 9 p.m. Dec. 6 at 1960 N. 12th St. Proceeds from the sales of a specialty cask of beer will support Grand Valley Gives. Ireland Stapleton, Timberline Bank and the Western Colorado Community Foundation also will sponsor Grand Valley Gives. Participating agencies in the 2021 Grand Valley Gives Collaboration include: American Red Cross, Caprock Academy, CASA of Mesa County, Center for Children, Child and Migrant Services, Colorado Canyons Association, Colorado Discover Ability, Colorado Mesa University Foundation, Colorado West Land Trust, Community Food Bank, Counseling and Education Center, The Cycle Effect, Dyslexia Foundation of Western Colorado, Eureka! McConnell Science Museum, Family Health West, Food Bank of the Rockies, Girls on the Run, Good Samaritan Clinic of Western Colorado, Grand Rivers Humane Society, Grand Valley Catholic Outreach, Grand Valley Pets Alive, Habitat for Humanity of Mesa County, Harmony Acres Equestrian Center, Hilltop Community Resources, Homeward Bound of the Grand Valley, HopeWest, Housing Resources of Western Colorado, Juniper Ridge Community School, KAFM Community Radio, Karis, Kids Aid backpack program, KWSI – LP 100.3 Radio, MarillacHealth, Mesa County Libraries Foundation, Mesa County Partners, Mesa County RSVP, Mind Springs Foundation, One Riverfront, RiversEdge West, Riverside Education Center, Rocky Mountain Public Media, Roice-Hurst Humane Society, School District 51 Foundation, SummitWest Care, United Way of Mesa County, Western Colorado Community Foundation, Western Colorado Health Network and Western Slope Blue Star Mothers. By working together, the Grand Valley Gives collectively raised more than $300,000 in 2020. This year’s goal is $325,000. Additional information is available from www.GrandValleyGives.org. F
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Open house to detail Clifton library plans An upcoming open house will offer information about the proposed Mesa County Libraries branch in Clifton. The open house is set for 5 to 7 p.m. Dec. 7 in the library and media center at Rocky Mountain Elementary School, located at 3260 D 1/2 Road in Clifton. The new library branch has been proposed as part of a Mesa County community center campus planned for construction near the school. The open house will offer information about library floor plans and amenities. Staff will be available to answer questions in Spanish. Mesa County staff also will be on hand to answer question about the community center campus. For more, visit www.mesacountylibraries.org/about/ supportus/clifton-branch-project. F
An architect’s illustration depicts the Mesa County Libraries branch proposed for a community center campus in Clifton. (Illustration courtesy Mesa County Libraries)
Applications due Dec. 15 for Kiwanis Club of Grand Junction allocations Applications will be accepted through Dec. 15 for annual allocations from the Kiwanis Club of Grand Junction. The club allocates proceeds from its annual Kiwanis Pancake Day fund-raisers to organizations that help children. Past recipients have included Boy Scouts, Girl Scouts, Grand Valley Catholic Outreach, Harmony Acres Equestrian Center, Homeward Bound of the Grand Valley, Mesa County Partners and Special Olympics
Applications and information is available at www.kiwanis-gj.org. The Kiwanis Club of Grand Junction is part of a worldwide service organization. In addition to clubs for adults, the organization also offers Circle K Clubs for colleges, Key Clubs for high school students, Builder Clubs for middle school students, K-Kids Clubs for elementary school students and Aktion Clubs for people with disabilities. F
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November 25-December 8, 2021
Artistic endeavor benefits nonprofit helping children A hotel in Edwards has joined in a partnership with an organization that enriches the lives of children with serious illnesses. The Inn At Riverwalk announced the art partnership benefiting the Roundup River Ranch. Located near Gypsum, the organization offers free, medically supported camp programs for children with serious illnesses and their families. The collaboration fused art with an effort to provide donations to Roundup River Ranch. Artist Marley Seifert created an outline for a canvas to be filled in by Roundup River Ranch families and volunteers, resulting in a mural in the Roundup River Ranch Room at the Inn at Riverwalk. Each time a guest stays in the Roundup River Ranch Room, 20 percent of the proceeds will be donated to Roundup River Ranch. “As one of the leading local hotel operators in the community for over 25 years, we are beyond thrilled to be partnering with such an impactful organization as Roundup River Ranch on this activation,” said Melinda Ferris, assistant general manager of the Inn At Riverwalk. “Not only does this mural provide a phenomenal opportunity for the volunteers and families to have fun and leave their mark on this property for years to come, it also allows us to share our mission-driven mindset with all future guests who stay in that vibrant space.” Seifert developed the overall design for a mural depicting Roundup River Ranch, including the lake, trees, roaming animals and cabins. Participants expressed their creativity on the walls of the hotel room, incorporating a variety of colors and artistic styles using acrylic paint. “We are grateful to the Inn At Riverwalk for supporting us in such a monumental way,” said Ruth B. Johnson, president and chief executive officer of Roundup River Ranch. “Our shared vision is to create opportunities for children with serious illnesses to reach beyond their illness and discover joy, confidence and a new world of possibilities, always free of charge. The proceeds from this unique partnership will allow our campers and their families to have the support and resources they need to experience camp and find happiness during challenging moments.” For more information about the Inn At Riverwalk, visit the website at www.innatriverwalk.com. To learn about Roundup River Ranch, visit www.roundupriverranch.org. F
November 25-December 8, 2021
Nominations sought for SBA awards
Nominations will be accepted through Jan. 11 for awards presented as part of the 2022 National Small Business Week. The U.S. Small Business Administration presents the awards to recognize businesses for their achievements and contributions to their communities. Nominations must be submitted electronically by 1 p.m. Jan. 11. Awards will be presented during a ceremony set for the first week in May. A business and owner from each of the 50 states, District of Columbia, Guam, Puerto Rico and U.S. Virgin Islands will be recognized as small business persons of the year. Those winners will turn compete for the national small business person of the year award. Awards also will be presented for small business disaster recovery, including public officials and volunteers involved with recovery efforts. Federal procurement awards will be presented to prime contractors and subcontractors. Additional awards will be presented to SBA resource partners, including Small Business Development Centers, women’s and veterans centers and investment companies. Nominations, criteria and guidelines are available online at www.sba.gov/nsbw. F
Lending
Continued from page 2 For the 2021 fiscal year, most 7(a) and 504 loans were issued in Colorado in Front Range counties — 223 worth a total of almost $170 million in Denver alone. But loans also were issued in Western Colorado counties, including 18 worth a total of $18.5 million in Garfield County, 11 worth a total of $6.5 million in Montrose County and two worth a total $1.8 million in Delta County. Of the 7(a) and 504 loans issued in Colorado, $190 million went to womenowned businesses and $71.3 million to veteran-owned businesses. Nationwide, nearly 52,000 loans worth a combined $36.5 billion were issued under the 7(a) program. Another 9,600 loans worth a collective $8.2 billion were issued under the 504 program, exhausting funding authority for the first time. An additional 4,400 loans worth a total of $71.8 million under the microlending program. Under the 7(a) program, $11 billion in loans were issued to minority business owners, nearly $5 billion to women-owned businesses and $1.2 billion to veteranowned firms. Under the 504 program, almost $1.9 billion in loans went to minority business owners and $712 million to women-owned businesses. F
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Changer
Continued from page 2 While working with the Greater Grand Junction Sports Commission, Stoll says she soon discovered there was no manual or training guide for someone in her position. Moreover, she starting fielding calls for assistance from others. “I knew when I started digging, there was a shortage of information out there.” That inspired her to start thinking about launching a research and consulting firm to help others and meet needs. “This could be an opportunity to change the landscape of this industry.” Stoll launched Stoll Strategies in 2018. Her first client was the Sports Events and Tourism Association, an industry group for which she once served as a member of the board. In talking with the president and chief executive office of the association, Stoll realized she could accomplish more as a consultant. She now oversees research and education for the Sports ETA and helped revamp the association’s education and certification programs. Stoll and her firm subsequently have worked on a variety of sports events and tourism projects. She’s leading efforts to assess the efforts of Play Tennessee Sports, a non-profit corporation promoting sports tourism in that state. She also helped develop a sports tourism strategy for Puerto Rico in the aftermath of damage by Hurricane Maria.
The Business Times
Stoll works with Blake Price in Texas, whom she says she met through the doctoral program at Troy University. She says she also relies on what she dubs a “bullpen” of academics with whom she contracts to help with research and analysis. Business has grown, Stoll says. “It’s kind of this fun, growth mode.” The work is important, she says, because of the equally important contributions of sports events and sports tourism. Sports ETA estimated in a 2019 industry report that travel to amateur and collegiate sports events in 2019 resulted in $45.1 billion in spending in the United States. Moreover, the sports tourism industry accounted for nearly 740,000 jobs and $14.6 billion in tax revenues. Stoll says sports events and sports tourism also result in less tangible benefits, including coverage in traditional and social media and building a community brand. Sports also helps to promote community pride, she says, citing the Alpine Bank Junior College World Series in Grand Junction as a prime example. There’s more than fun to games, Stoll says. But there’s also more to the analysis than spending, jobs and tax revenues. The intangibles count, too, in determining how much more. “It just tells more a complete story about the role this plays.” F
November 25-December 8, 2021
Report: Outdoor rec contributes $9.6 billion to Colorado economy Outdoor recreation contributed $9.6 billion to the Colorado economy in 2020, according to the latest results of an annual reported prepared by the U.S. Bureau of Economic Analysis. The added value of fishing, sailing and snow activities decreased $410 million. But the value of bicyling; canoeing and kayaking; camping, climbing and hiking; and other water sports increased a total of nearly $26.5 million. The value of activities related to the use of recreational vehicles increased $36 million and off-highway vehicles another $17 million. Employment in outdoor recreation in Colorado totaled 120,000. The numbers for 2020 dropped from 2019 because of the COVID-19 pandemic and related restrictions as well as the inclusion of outdoor recreation jobs within the pandemic-ravaged leisure and hospitality sector. Economic output dropped more than 21 percent from a record $12.2 billion in 2019. Employment dropped 19.5 percent from 149,000. But the pandemic also led to an increase in some forms of outdoor recreation, said Nathan Fey, director of the Colorado Outdoor Recreation Industry Office, a part of the Colorado Office of Economic Development and International Trade. “With so much isolation and loss, the outdoors was something we could all turn to in order to connect with our families and friends and maintain physical and mental health,” Fey said. “Outdoor recreation participation soared, especially close-to-home recreation. This increase highlighted two things: the importance of better access to the outdoors for everyone and the impact increased use has on the state’s outdoor recreation assets.” The BEA, an agency of the Department of Commerce, bases its annual statistical snapshot of the outdoor recreation industry on national and state data. Nationwide, the BEA calculated the effects of the outdoor recreation industry in 2020 at $689 billion in economic output and 4.3 million jobs. Economic output declined 17.4 percent and employment decreased 17.1 percent from 2019. That reversed a trend. Prior to the COVID-19 pandemic, the outdoor recreation economy was growing faster than the overall economy in the United States. F
News Trends Contributors Jobless rate trends down Opinion Business Briefs Business People Almanac The Business Times
November 25-December 8, 2021
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INDICATORS AT A GLANCE
n Business filings t New business filings in Colorado, 38,211 in the third quarter, down 1.2% from the third quarter of 2020.
n Confidence
s Consumer Confidence Index 113.8 in October, up 4.0. t Leeds Business Confidence Index for Colorado, 56.1 for the fourth quarter, down 11.2. t National Federation of Independent Business Small Business Optimism Index 98.2 for October, down 0.9.
n Foreclosures
t Foreclosure filings in Mesa County, 1 in October, down from 2 in October 2020. s Foreclosure sales in Mesa County, 3 in October, up from 2 in October 2020.
n Indexes
s Conference Board Employment Trends Index, 112.23 for October, up 2.55. s Conference Board Leading Economic Index 118.3 for October, up 0.9%. t Institute for Supply Management Purchasing Managers Index for manufacturing, 60.8% for October, down 0.3%.
n Lodging
s Lodging tax collections in Grand Junction, $249,464 for October, up 75.5% from October 2020.
n Real estate
t Real estate transactions in Mesa County, 480 in October, down 17.1% from October 2020. s Dollar volume of real estate transactions in Mesa County, $204 million in October, up 9.7% from October 2020.
n Sales
s Sales and use tax collections in Grand Junction, $6.39 million for October, up 17.8% from October 2020. s Sales and use tax collections in Mesa County, $4.32 million for October, up 17.1% from October 2020.
n Unemployment t Mesa County — 4.7% for October, down 0.2. t Colorado — 5.4% for October, down 0.2. t United States — 4.6% for September, down 0.2.
Labor shortages persist in Mesa County heading into holiday season Phil Castle
and nearly 83 percent from the same span in 2020. Labor demand remains strong across Oct. Sept. The unemployment rate continues to industry sectors, but is particularly t Delta County 3.9 4.1 trend down in Mesa County, although at a pronounced in the health care sector, t Garfield County 4.0 4.1 slow pace. Englehart said. He attributed the situation t Mesa County 4.7 4.9 “We’re seeing in part to turnover related to burnout in t Montrose County 4.0 4.2 movement in the right the midst of the COVID-19 pandemic as t Rio Blanco County 4.1 4.3 direction, but it’s a very well as COVID vaccine mandates. “It’s a gradual movement,” combination of things.” said Curtis Englehart, director of the Mesa Employers in other sectors also have struggled to fill job County Workforce Center in Grand Junction. openings, including small retailers gearing up for the holiday Labor demand remains strong, particularly shopping season. High school and college students looking for in the health care sector, and employers seasonal jobs have helped fill some openings, he said. struggle to fill job openings, Englehart said. Looking ahead, Englehart said he expects the jobless rate That will leave some businesses short-handed to continue to trend downward through the end of the year. The Curtis Englehart for the holiday season. jobless rate historically spikes in Mesa County in January to its The seasonally unadjusted unemployment rate fell two-tenths highest level of the year, and he said he’ll be watching to see if of a point to 4.7 percent in Mesa County in October, according to that continues and to what extent. the latest estimates from the Colorado Department of Labor and For October, seasonally unadjusted unemployment rates also Employment. With declines in each of the last four months, the retreated in neighboring Western Colorado counties: down a tenth joblessness has retreated to its lowest level since the rate stood at of a point to 4 percent in Garfield County and two-tenths of a point 4.1 percent in February 2020. At this time last year, the rate was to 3.9 percent in Delta County, 4 percent in Montrose County and higher at 6.3 percent. 4.1 percent in Rio Blanco County. Between September and October 2021, Mesa County payrolls The statewide seasonally adjusted jobless rate fell two-tenths increased 157 to 73,314. The number of people counted among of a point to 5.4 percent as nonfarm payrolls increased 10,600 those unsuccessfully looking for work decreased 148 to 3,612. from September to October. The labor force, which includes the employed and unemployed, Over the past year, payrolls increased 104,600 with the edged up nine to 76,926. biggest gains in the leisure and hospitality; professional and Compared to a year ago, payrolls increased 1,069 even as the business services; and trade, transportation and utilities sectors. ranks of the unemployed fell 1,211. The labor force decreased 142. Construction payrolls declined. Labor demand as measured by the number of job orders Over the past 18 months, Colorado has regained 313,100 of posted at the Mesa County Workforce Center increased between the 375,800 jobs lost between February and April 2020 because of September and October as well as on a year-over-year basis, the pandemic and related restrictions. Englehart said. The average workweek for employees on private, nonfarm For October, 1,069 orders were posted. That’s up 49 from payrolls shortened four-tenths of an hour over the past year to 33.3 September and 360 from a year ago. Through the first 10 months hours. Average hourly earnings increased $1.71 to $32.54. of 2021, 9,686 orders were posted. That’s an increase of 4,392 F The Business Times
AREA JOBLESS RATES
Grand Valley tax collections continue to increase A key measure of sales activity continues to increase in Grand Junction and Mesa County. The City of Grand Junction reported a 17.6 percent increase in sales tax collections in October compared to the same month a year ago. Mesa County reported an even larger proportional gain at 18.8 percent. City lodging tax collections, a measure of hotel and motel stays, rose 75.5 percent. October tax collections reflect September sales and lodging. The city collected a total of nearly $6.4 million in sales and use taxes in October, an increase of nearly $967,000 and 17.8 percent over the same month last year. Use taxes, a smaller and more volatile revenue source, rose 29.9 percent. Through the first 10 months of 2021, the city collected a total of more than $57.4 million in sales and use taxes, an increase of almost $10 million and 21 percent over the same span in 2020. Sales tax collections increased 31.4 percent, while use tax collections rose 15.2 percent. Mesa County collected a total of more than $4.3 million in sales and use taxes. That’s an increase of almost $630,000 and 17.1 percent over last year. The gain in sales tax collections more than offset a slight dip in use taxes — nearly all of them on automobiles purchased outisde the county, but used in the county.
County tax collections on retail sales in October reached almost $1.4 million, a 13.5 percent increase over the same month last year. Collections on internet sales topped $226,000. Tax collections increased 28.5 percent on hotel stays and restaurant meals, 23.5 percent on automobiles and 15.4 percent on home improvements. Through the first 10 months of 2021, the county collected a total of more than $40.2 million in sales and use taxes. That’s an increase of nearly $7 million and 21 percent over the same span in 2020. Sales tax collections rose 20.3 percent, while use tax collections rose 28.9 percent. The county collected more than $13 million in taxes on retail sales during the firsr 10 months of 2021, a 19.4 percent increase over the same span in 2020. Tax collections on internet sales accounted for almost $2.4 million. Year-to-date sales taxes increased 30.6 percent on hotel stays and restaurant meals, 29.8 percent on home improvements and 18.6 percent on automobiles. Collections decreased 41.6 percent in the oil and natural gas sector. The City of Grand Junction collected almost $250,000 in lodging taxes in October. For the first 10 months of 2021, city lodging tax collections exceeded $1.5 million. That’s an increase of 63.1 percent over the same span in 2020. F
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The Business Times
November 25-December 8, 2021
Leading index signals continued growth in 2022 An index forecasting economic conditions in the United States continues to increase, signaling growth despite rising prices and supply chain issues. The Conference Board reported its Leading Economic Index advanced nine-tenths of a percent to 118.3 in October. Separate measures of current and past performance also increased. Ataman Ozyildirim, senior director Ataman Ozyildirim of economic research at the Conference Board, said the increase in the leading index suggests economic expansion will continue in 2022 and perhaps gain some momentum in the final months of 2021. “However, rising prices and supply chain bottlenecks pose challenges to growth and are not expected to dissipate
until well into 2022,” Ozyildirim said. Still, the Conference Board forecasts annual growth in gross domestic product — the broad measure of goods and services produced in the country — of 5 percent in the fourth quarter of 2021 before moderating to 2.6 percent in the first quarter of 2022. The Leading Economic Index increased 4.6 percent over the past six months, up slightly from the 4.5 percent gain over the six months before that. By comparison, GDP grew at an annual rate 2 percent in the third quarter and 6.7 percent in the second quarter. For October, eight of 10 indicators of the index advanced, including building permits, interest rate spread, leading credit and new orders indexes, new orders for consumer and capital goods and stock prices. A decrease in average weekly unemployment claims also bolstered the index. Average weekly manufacturing hours and
consumer expectations for business conditions retreated. The Coincident Economic Index rose a half percent to 106.3. The index has increased 1.7 percent over the past six months. For October, all four indicators advanced: industrial production, nonfarm payrolls, personal income and sales. The Lagging Economic Index rose four-tenths of a percent to 107.4. The index has increased 1.1 percent over the past three months. For October, three of seven indicators advanced, including inventories and labor costs. A decline in the average duration of unemployment also pushed up the index. Consumer credit retreated. The average prime rate charged by banks, commercial and industrial financing and the cost of services remained unchanged. F
Trends Contributors Opinion Second-chance hiring Business Briefs Business People Almanac
November 25-December 8, 2021
The Business Times
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COMING ATTRACTIONS
n A free presentation will cover the basics of cybersecurity for small businesses. Kurtis Minder, chief executive officer of GroupSense, will lead the presentation from 10 a.m. to noon Dec. 1 at the Business Incubator Center at 2591 Legacy Way in Grand Junction. Lunch will be provided. To register for or obtain more information about upcoming events, programs and services offered at the Business Incubator Center, call 243-5242 or log on to http://gjincubator.org. n The Grand Junction Area Chamber of Commerce has scheduled its annual economic outlook luncheon for noon to 1:03 p.m. Dec. 13 in the Colorado Mesa University Center ballroom. Admission is $23 for chamber members and $28 for others. Richard Wobbekind, senior economist and faculty director of the business research division at the Leeds School of Business at the University of Colorado at Boulder, will review the latest results of an annual forecast compiled by CU. Wobbekind will discuss the economic outlook for 2022 for Mesa County as well as Colorado and the United States. To register for or obtain more information about upcoming chamber events, call 242-3214 or visit https://gjchamber.org. n The next Coffee Club networking event is set for 9 to 10 a.m. Dec. 19 at the FWorks coworking space located at 325 E. Aspen Ave. in Fruita. For more information, call 243-5242 or log on to the website at http://gjincubator.org.
Applicants with criminal records could help address labor shortages A labor shortage coupled with a tsunami of resignations has employers struggling to maintain a stable roster of employees. Beyond offering higher pay, better benefits and more flexibility, what can employers do? A demographic previously excluded due to blanket criminal background checks could provide a solution. Moreover, second-chance hiring opens doors for employers and applicants alike. Applicants with criminal records offer an untapped pool of talent eager to work, one that statistically performs the same or better than employees without criminal records. In fact, applicants with a criminal history are often more motivated to secure employment, provide support for their families and re-establish their sense of worth. Second-chance hiring benefits employers through building a more inclusive, diverse and successful workplaces as well as stronger Lindsay communities. Offering second chances also Woodrich reduces recidivism and unemployment. Employers have an opportunity to make a difference in the lives of their employees and can support previous offenders by promoting such company values as honesty, teamwork and trust, which in turn builds the character of employees inside and outside work. Second-chance hires have lower turnover rates due to the availability of prospective positions and employers willing to hire former offenders. Some former offenders are required to be monitored for drugs and alcohol and maintain gainful employment as part of the conditions of their release, which is beneficial to the employer. Employers can take advantage of several resources to mitigate the risks of second-chance hiring: n Continuous criminal monitoring — This technology provides alerts on criminal activity in a work force population. CCM alerts employers to potential criminal activity in real time, throughout the duration of employment and without the need to filter out noise and constantly monitor reports. CCM takes the mystery — and risk — out of the post-hire conduct of employees. n The Colorado Department of Labor and Employment assists employers with the federal Work Opportunity Tax Credit and federal bonding. The WOTC encourages employers to hire targeted groups of job seekers and can reduce employer federal tax liability as much as $2,400 to $9,600 per new hire. A fidelity bond is provided to employers free of charge and serves as an incentive to hire job applicants who are ex-offenders or have
at-risk backgrounds. The bond serves as a business insurance policy protecting against financial loss due to embezzlement, forgery, larceny or theft. Chris Fick, community employment coordinator with Veterans Affairs Western Colorado Health Care Department, said he’s helped veterans with convictions gain employment. Fick said he’s been able to coordinate with federal, state and county programs to offer opportunities for retraining and career development. Local programs helping applicants with criminal backgrounds also help provide employers with skilled and trained employees. According to recent research conducted by the Society for Human Resource Management, 66 percent of HR professionals indicated they’d be willing to work with job seekers with criminal records — up from less than half who felt that way in 2018. In addition, 53 percent of HR professionals said they’d be willing to hire individuals with criminal records, up from 37 percent in 2018. Several factors could account for the changes, among them companies taking time to evaluate criminal records and consider the type of charges, time elapsed and conditions of release. In assessing and implementing hiring policies and procedures, employers must follow such laws as the Colorado Chance to Compete Act. A criminal charge is just one of many factors that can be used to assess the fitness and potential of job candidates. Federal equal employment guidelines dictate that job applicants may be excluded only when criminal charges are directly relevant to the positions they seek. Since labor shortages could persist for a while, employers must remain open to new ideas and practices to find available workers. With the evolution of continuous monitoring programs and additional protections through fidelity bonds, applicants with a criminal history should be given more consideration. These individuals could be the skilled employees for which you’ve been looking. Lindsay Woodrich is a human resources professional trained in the design, development and implementation of background screening and drug and alcohol testing services. Woodrich holds designation as a Professional in Human Resources as well as the Fair Credit Reporting Act Basic Certification. She serves on the board for the Young Professionals Network of Mesa County. This column was provided by the Western Colorado Human Resource Association. For more information, visit www.WCHRA.org. F
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The Business Times
November 25-December 8, 2021
What’s blocking success? ID and address barriers Internal blockages to business success come in many forms: bad management, inadequate pay, ineffective hiring practices, lack of teamwork, negative culture, poor onboarding and training and team members whose bad attitudes prevent them from performing at consistently high levels. That’s not to mention inconsistent quality of products, less than effective systems and procedures, poor customer service and team members who lack the behaviors and skills to communicate effectively. These are just some of the common blockages owners and managers must identify and eliminate to improve business performance and achieve success. Marcus If you’re like most owners and Straub managers, you strive to keep operations running smoothly and efficiently with as few interruptions to the flow of business as possible. But a key part of preventing or removing blockages is developing big picture awareness of operations. How aware are you of internal conditions limiting your operations? If you’re not mindful of blockages, your lack of awareness will prevent you from addressing them at all. Is this really a viable option if you want your business to stand out in the marketplace? If you’re aware of blockages in your business, you’re positioned to take the crucial next steps of understanding what they are, where and why they exist and how much they cost you. To better clarify how you can identify and eliminate potential blockages keeping your business from optimal performance and success, let’s look at a few common culprits: n Talents and skills: All members of a professional team must possess the basic skills necessary to perform their jobs.
If you’re aware of blockages in your business, you’re positioned to take the crucial next steps of understanding what they are, where and why they exist and how much they cost you.
If not, they’ll hinder the efficient operations of the business. While a person lacking necessary skills still could constitute a good hire, they must compensate with a good attitude and strong desire to learn and grow. Otherwise, it’s a waste of time, effort and money to bring them on. n Attitude: While skills can be taught to individuals who want to learn, attitude is a different beast altogether. Although many people are hired for their talents, it’s their attitudes and resulting behaviors that determine if they’re a blockage or asset in your business. Team members might be qualified to perform their job at a high level. But if they bring consistently negative attitudes to the workplace, their performance will be less than their best and they’ll disrupt your operations in multiple ways. Negativity and bad attitudes are a serious virus you can’t allow to spread through your company culture. n Communication: Poor communication is a primary, and often leading, barrier to success. Effective communication that accurately conveys information, images, objectives, feelings and desires so all parties are on a similar, if not the same, pages must be highly valued and strongly encouraged. Clear and specific communication allows people and systems to work together seamlessly for superior results. n Desire: A lack of desire means team members don’t care enough to deliver superior job performance. When people don’t care, they also lack commitment and loyalty
and are less efficient and productive. These team members will consistently produce lower quality products and services, resulting in unsatisfied customers. Just one team member can hurt the efforts of an entire team. They have a dampening effect on team morale and damage the work environment. When an owner or manager tolerates this type of attitude, they lose credibility with the rest of the team. Think of blockages within your business in terms of a traffic jam. Progress and efficiency grinds to a halt. Frustration grows, tempers flare and everyone starts looking out for themselves. Errors increase, accidents occur and the blockage only becomes worse. Once you’re through the traffic jam, though, all these things are reversed. You experience relief and satisfaction as you continue down the road to success and happiness. Explore your business to see what blockages to the smooth and efficient flow of your operations you can discover. Consider hiring a qualified professional to help you identify and eliminate blockages in your business for good. Remember: Not effectively addressing blockages in your business will only compound the situations limiting its overall performance. 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
November 25-December 8, 2021
The Business Times
What’s your business really worth? Thinking about retiring or selling your business? With some careful planning and professional advice, your business might be worth far more than you think. Or you might have unrealistic expectations. Many professional advisors across numerous specialties put themselves forth as business appraisers, business valuation specialists or some similar moniker. There are professional certifications and designations for advisors who work in the valuation and appraisal field. But the lack of a certification or designation doesn’t mean an advisor lacks the experience and skills to appraise or value your business. Regardless of designations or certifications, verify the advisor has provided Janet the services you seek and has assisted clients Arrowood with defending the appraisal or valuation if legal or tax issues arise. If you want to work with an advisor with an industry certification or designation, here are some organizations to consider: n The National Association of Certified Valuators and Analysts — www.nacva.com — designates Certified Business Appraisers (CBA), Master Certified Business Appraisers (MCBA) and Certified Valuation Analysts (CVA). n The International Society of Business Appraisers — www.intlbca.com — designates the Business Certified Appraiser (BCA). n The American Society of Appraisers — www.appraisers.org — designates the Accredited Senior Appraiser (ASA). n The American Institute of Certified Public Accountants — www.aicpa.org — offers the Accredited in Business Valuation (ABV) designation. Some of the information a valuation consultant or appraiser could want from you includes: n Financial statements — audited if available — for the last three to five years.
n Year-to-date financial statement. n Federal, state — and local, if applicable — business tax returns for the past three to five years n Depreciation schedules for company owned buildings, vehicles and equipment used in business operations. n Other items determined by the nature of your business, including client lists, databases and proprietary software. n Information about and access to your website. n Copies of recent appraisals for business-related equipment and property. n Copies of leases for buildings, equipment and property. n Information about any pending or ongoing financial, legal or tax issues or oblications. n Photographs of buildings, equipment and job sites. n Copies of brochures and other published material about your company. If you seek business funding, most lenders working with the U.S. Small Business Administration require a valuation from a credible firm. If you’re considering buying an established business or franchise, an appraisal or valuation can provide peace of mind you’re probably not overpaying. Disclaimer: The preceding information is provided for general educational purposes. It’s not intended as accounting, legal, tax or other advice. Always consult with a qualified, licensed (if applicable) business appraisal or valuation consultant, legal advisor or tax professional when you’re considering buying or selling a business. 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
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The Business Times
November 25-December 8, 2021
Don’t miss out on deductions for business meals COVID-19 has changed the way we do business, where we spend money and even how we eat. Some provisions of federal law have changed, too, including a provision allowing for a full tax deduction on business-related food and beverge expenses incurred in restaurants. The pandemic has rocked nearly every industry, but especially food services. According to Datassentials, a food and beverage industry analytics and insights company, more than 10 percent of the nearly 779,000 restaurants in the United States have closed since the onset of the pandemic. Congress passed the Consolidated Appropriations Act (CAA) in December 2020 to provide fast and direct Loren Hofer economic assistance for American workers, families, small businesses and industries. The CAA allows taxpayers to deduct 100 percent of business-related food and beverage expenses incurred at restaurants in 2021 and 2022. Deductions for business meals at restaurants previously were limited to 50 percent of the cost. IRS guidance in Notice 2021-25 defines restaurants for the purposes of the deduction to include businesses that prepare and sell food or beverages to retail customers for immediate on-premises or off-premises consumption. However, the definition doesn’t include businesses that primarily sell pre-packaged goods not for immediate consumption, such as grocery stores and convenience stores. Additionally, an employer may not treat certain employer-operated eating facilities as restaurants, even if those facilities are operated by a third party under contract with the employer. In October 2020, the IRS issued final regulations clarifying that taxpayers could still deduct 50 percent of
business-related meal expenses under the Tax Cuts and Jobs Act (TCJA). These regulations were written before the CAA change that allowed 100 percent deductions for businessrelated restaurant meals provided in 2021 and 2022, but they still offer some helpful guidance on the following issues: n Food or beverages means all food and beverage items, regardless of whether they are characterized as meals, snacks or other types of food and beverages. Food or beverage costs mean the full cost of food or beverages, including delivery fees, tips and sales tax. n For purposes of the general disallowance rule for entertainment expenses, the term entertainment includes food or beverages only if the food or beverages are provided at or during an entertainment activity — such as a sporting event — and the costs of the food or beverages aren’t separately stated. To qualify for deduction, amounts paid for food and beverages provided at or during an entertainment activity must be: n Purchased separately from the entertainment. n Or stated separately on a bill, invoice or receipt that reflects the venue’s usual selling price for such items if they were purchased separately from the entertainment or the approximate reasonable value of the items. Otherwise, the entire cost is treated as a nondeductible entertainment expense. Taxpayers can’t attempt to allocate costs between entertainment and food or beverages. Under the final regulations, a deduction is allowed for business-related food or beverages only if: n The expense isn’t considered lavish or extravagant under the circumstances. n The taxpayer or an employee of the taxpayer is present at the furnishing of food or beverages. n The food or beverages are provided to the taxpayer or a business associate.
A business associate means a person with whom the taxpayer could reasonably expect to engage or deal with in the active conduct of the taxpayer’s business, such as a customer, client, supplier, employee, agent, partner or professional advisor — whether established or prospective. Under the final regulations, the long-standing rules for substantiating meal expenses still applies. The regulations also reiterate the long-standing rule no deductions are allowed for meal expenses incurred for spouses, dependents or other individuals accompanying the taxpayer on business travel (or accompanying an officer or employee of the taxpayer on business travel), unless the expenses would otherwise be deductible by the spouse, dependent or other individual. For example, meal expenses for the taxpayer’s spouse would be deductible if the spouse works in the taxpayer’s unincorporated business and accompanies the taxpayer for business reasons. Under the new law, for 2021 and 2022, meals provided by restaurants while traveling on business are 100 percent deductible subject to the preceding considerations. There are additional circumstances under which your business can deduct 100 percent of the cost of meals, other food and beverages. Taking advantage of this deduction is a benefit to your business and employees. More so, frequenting local restaurants helps keep their staffs employed and boosts local economies. Contact your tax advisor if you have questions or need more information. Loren Hofer is a tax manager with the Dalby, Wendland & Co. public accounting and consulting firm based in Grand Junction. Hofer works with clients in various industries and advises businesses on achieving growth. For more information about Dalby, Wendland & Co., call 243-1921 or visit www.DalbyCPA.com. F
November 25-December 8, 2021
The Business Times
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Plan now to keep off those holiday pounds
It’s estimated the average American gains between 5 pounds and 9 pounds of weight between Halloween and the new year. It’s not an easy time to keep pounds off. Why? People eat more and exercise less, which results in weight gain. It’s as simple as that. It all starts with Halloween. You stockpile bags of candy for the one evening when a few trick-or-treaters might come to your door. The day after, there’s leftover candy. And the kids have a sugar source that will fuel unhealthy eating habits into the Paula holidays. Then, people put off losing Reece weight until they start making their New Year’s resolutions. So why is it so hard to stay committed to your healthy eating and exercise plan? The holidays are known for socializing — parties and events centered on food. Many of these food choices are high in calories. Another reason is a trap we all fall into, and that’s our busy schedules. We’re busy nearly all the time. But during the holidays, add in kids’ events, Christmas cards, decorating, shopping and traveling. The list goes on. The stress of the holiday season can leave you exhausted.
Schedule a little exercise between things on busy days — 10 minutes is better than nothing. Keep your goals in mind throughout the holiday season. The time you allow for yourself for exercise, nutrition, organizaton and sleep will make the busyness of the season more manageable.
What’s the best way to survive the holiday season and avoid putting on those extra pounds? Make a plan. Here are a few tips to help: n Take out a calendar early — like now. Mark off time for exercise each day. Schedule a little exercise between things on busy days — 10 minutes is better than nothing. Keep your goals in mind throughout the holiday season. The time you allow for yourself for exercise, nutrition, organizaton and sleep will make the busyness of the season more manageable. n Eat right. Buy healthy snacks. Plan for parties and
other activities that involve food. Eat some healthy and filing foods before you go. Attending an event hungry sets you up failure. n Exercise during the mornings of the holidays to burn off some of those extra treats you’ll eat later in the day. Thanksgiving offers an opporutnity to get in some eexercise early in the day before the feast. n Don’t fall into the trap of “I’ll start after the new year.” This is really saying you’ll find an excuse no matter the time of the year. There will always be birthdays and special events — think about Super Bowl parties and Valentine’s Day. n Remember: Celebrations are really about family and friends, not food. Lifestyle changes in nutrition and exercise, even during the busy holiday season, provide long-lasting results. It’s about making healthy, productive changes that work for you over the long term. It’s about your health forever. 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
Troubles at Zillow demonstrate the problems with big data Zillow has suffered a really big hiccup in its business. It’s stock value has dropped 70 percent since earlier in the year as the company lost more than $500 million. In addition, Zillow is expected to lay off a quarter of its work force as it shuts down the Zilllow Offers segment of its operations. In my opinion, it sounds like the Zillow iBuyer — short for “instant” buyer — program fizzled because the company started believing its Tim “Zestimates” were valid. Whitney I’ve never met a real estate broker who thought the Zillow Zestimates were spot on and, therefore, a competitive market analysis wasn’t needed to determine the value of a property. The only people who believed the numbers were accurate were sellers — for obvious reasons. If your algorithm can’t figure
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If your algorithm can’t figure out you’re in the midst of a supercharged market, you need a new algorithm. out when you’re in the midst of a supercharged market, you need a new algorithm. Even the head of Zillow finally admitted the company failed to predict the pace of home price appreciation. The way I understand the concept is Zillow would use its big data to generate a future value of a particular property and then try to back into the price they could afford to pay. Add in a quick estimate of renovation costs along with a profit margin, and now you can calculate the sales price you’re targeting. While this tried-and-true method might work on a small scale if you know your
market, it appears difficult to manage on a large scale. There are a few other platforms out there — Redfin, Opendoor and Offerpad, among them — acting as fix and flippers and showing some success in a few targeted markets such as Phoenix and Orlando where they’ve been using big data as well to guide their decisions. While I believe you might gain an edge over other buyers and sellers by having lots of data, it doesn’t guarantee results. Did I mention all real estate is local? Tim Whitney is managing broker of Coldwell Banker Commercial Prime Properties, a commercial brokerage and property management firm based in Grand Junction. Whitney has been involved in the sale, lease and management of commercial real estate in Colorado for more than 35 years. For more information, call (970) 243-7375 or visit the website at www.CBC-Prime.com. F
Contributors Opinion Bold predictions for 2015 Let’s get together A new yearthan affords Business Briefs Now more ever, yeah, more like not-so-bold yeah, yeah ...repeats a time new opportunity a for gratitude Business People Almanac to meet local needs THE he B BUSINESS usiness T T Times IMES
PPAGE age 26 22
The best part about Thanksgiving and the holiday season — along with all the delicious food, of course — are the remainders this time of year provides about what’s important. That includes family, friends and all the other blessings we enjoy. It’s been a challenging couplefor of ayears pandemic, A new year almost always brings an opportunity freshwith starta and and social unrest and what appears like a growing renewed ambition topolitical do things better. between citizens of a country where better far more should In business, thatgulf usually boilsthe down to providing customers products unite us than divide us. There’s ample justification for the and services faster and at lower cost than competitors. Part of the process must view the world’s going to hellthey and actually we’d be need well-advised include listening to customers to determine what and thento investall, in ithandbaskets. meeting that need. After does little good to offer the latest and greatest if Callyou’re me a Pollyanna, nobody actually wants what selling. but I remain optimistic. More so, I remainthat grateful —toequally cognizant thingsJunction could be much Just like the businesses belong the group, the Grand Area better, but also far worse. Chamber of Commerce invariably starts out the new year with a reassessment of Soitinprovides the spiritand of how Thanksgiving thewith upcoming the services and resources well they and match members allow me of thethe opportunity to count blessings. needs. Jeff Franklin,holidays, the new chairman chamber board of some directors, Phil Castle Pleaseinbedescribing patient. There lot to count. personifies this approach whatare he aconsiders his role for the coming First and foremost, thank the readers of theIt’s a year: listen to members, determine their needs and you thentomeet those needs. Business Times. You remain the reason I do what I do. Thanks also to the role with which Franklin is familiar as market president of Bank of Colorado. businesses and organizations advertise in the BusinessinTimes andchamber provide the The process will take on that a more structured approach what the financial wherewithall meaptly to docalled what Listening I do. Yourtosupport has Under never the plans as the resumptionthat of aenables program Business. been morebusiness important — orparticipate appreciated. program, owners in in-depth interviews to identify barriers to I remain grateful, too, for boss, Craig Hall. He not only makes it possible growth and other problems theymy encounter. for me to do what I do, but also gives mejoin unbridled freedomclub. to do so. While I’m The new year offers a good time to the proverbial at it:As Happy birthday, or Craig. an advertiser reader, what do you need from the Business Times? Thanks to Alowetta and Marc Terrien,gather the indefatigable couple thatnews conjures While business journals traditionally and report the relevant to the Business Times website of Thin Air. Thanks street. to KittyThat’s Nicholason, who readers, communication isn’tout necessarily a one-way especially true as builds many the adsmake that the appear in themore paper.convenient than ever. Web sites andofe-mail dialogue For this newspaper don’t editor,exist blessings most definitely includetothe Good publications in a vacuum. They respond thecolumnists needs of who so generously shareThey their provide time andwhat’s talentsneeded. along with their excellent advice advertisers and readers. for readers. include Janet Arrowood, Dean Harris, Phyllis Hunsinger, Paula So whatThey do you need? Reece, Marcus Straub and Tim Whitney. That’s nothelp to mention theinformed good folks with Is there additional news coverage that would keep you about Bray Real Estate; Dalby, Wendland & Co.; Mesa County Public Health; Monument local business developments? Are there features that would be interesting or Health; the Western Colorado Resource useful? and Is there advice that would Human make your jobs aAssociation. little easier? IIt’s also countimportant among mytomany blessings the individuals organizations equally ask what you don’t need. With and limited time to who helpcontent the editor a business report on business, among Robertbe produce andoflimited spacejournal in which to publish it, would timethem and space Bray, Bresnahan, Christopher better Keira devoted to something else? Chavez, Curtis Englehart, Celia Kohn, Karen Martsolf, Mike Moran, Diane Schwenke, What’s good? WhatKelly isn’t?Murphy, What’s needed? What isn’t?Fran Stephens, Annette Young TamaraSend Vliek as the Businessonline Incubator Grand Junction Letand us know. usas anwell e-mail. Comment on theCenter, Business Times Web Economic Partnership and local chambers of commerce. site at www.thebusinesstimes.com. You could even write an old-fashioned letter to Thanks welllike. to Dan Barton and the team at Colorado Mountain the editor if as you’d Your feedback, both positive and negative, is News valuedMedia and that prints the Business Times twice a month. will be carefully considered. IGood tend publications to count a lotare of the blessings thisnot time ofthe year — especially when but I’m also result of only efforts of their staffs, enjoying whipped cream served with a slice pumpkin pie. But I’m most collaborative efforts involving advertisers andofreaders. thankful most important. Likefor anywhat’s other good business, we want to listen to our customers, find out what they need and then meet those needs. Phil It’s Castle is editor of the Business a new year. Please help us toTimes. do so. Reach him at 424-5133 or phil@thebusinesstimes.com. ✦ 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. © 2021 — All rights reserved.
If you’re a fanofofyear the movie It’s that time when “The Parent Trap,”and I betprognostications you just sang thatabound. little resolutions ditty. And whether it’sapplied Haley Mills or Lindsey My favorite saying to New Year’s Lohan singing, thesaying image they’re in your basically head was a resolutions is in innocent, and to justbreak darned bunch of happy promises thecute. firstJust week like most of America used to be before of January. And while I won’t predictallathe pandemic the past twoaccurately years. whole lot,panic I canfor pretty much a two nail aAnd fewwhat things that without question years it’s been. Hell, You will see these are will make the news. the tyrants charge pretty, well,inpredictable: even■cancelled theone: Prediction holidays in be 2020. There will some And if you’re sort of weatherlike event, me, you’ve beenor natural disaster waiting them to heinous for occurrence do it again, because where someone will experience backed be interviewed and say by tells“I’ve me thewisdom following: Craig Hall they’re chomping at never seen anything the likebit. thatIt’s in why my they count cases lifetime.” It’sonly, as ifignore this natural immunity, Craig Hall count beds available, run endless personstaffed is a required advertising campaigns attendee at every newsto get the shot and suggest onlyWhile the un-vaxxed are the reporting event. I understand most spreaders, carriers and those catching this people’s perspective can indeed be limited serious version ofwithin, the flu.their own personal by, or contained Sadly, that’s thetoopposite experiences, it is exactly too much ask to of what many other countries are reporting consult some historical perspective before — unless youa thing? count the martial saying such Yes,ones thisunder response can law run evil,events. dictatorial rule. But that’s apply toby some But when it comes what tyrantsand do,natural considering that until to weather disasters, I’m pretty 2020, there’s neverhistory been a study showing sure this is simply repeating itself. lockdowns, masking and social Same as it has for millions and distancing millions of have worked. Yet andmade again,it! years.actually More important, thetime planet areas America going to those wells. What of didn’t werekeep certain species. How’s It’s time these wells run dry. thatpast for perspective? I’ve said this atwo: thousand Treatto a ■ Prediction Whentimes. it comes the sickorwith everything have.between Protect the crime something thatwe occurs vulnerable. on with life. I’ll even add: humans, theGet other required attendee at all Get shot if you’d like. Butperson for the who love of newsthe reporting events is the all that’s canwe’re we just thenicest government says this:holy, “They justgetthe back to the hadsomething on March people, andbusybody in no waystate didwe I see 15, After all,Exactly. Joe Biden like2020? this coming.” Nohad onea plan doesto defeat did he I’mtoguessing most ofCOVID-19, the time when it not? comes Joe’s plansand wereacquaintances. the same ones People that never neighbors should worked, like — I don’tgoes know masking, be surprised at what on—from time to social lockdowns and now, time indistancing, their neighborhoods, towns and “vaccines” lose pretty much all efficacy. with peoplethat they know because people are about timetimes as human beings we good.It’s And for the that they shouldn’t simply say, — “No more. done.”repeat be shocked like withWe’re politicians, I’ve been the— sunwhere’s almost 60 offenders and around terrorists thetimes in this adventure titled“This “Thedoesn’t Life of Craigy.” interview that says, surprise If meI finally in the learned least.” one thing, it’s this: Humans are communal creatures. even ingood the ■ Prediction three:Heck, Something movie “I Robot,” the robots got in will happen economically, andtogether the groups after being decommissioned. Andmost government will take credit for it. The isn’t that what these folks who think recent example is gas prices, wherethey people rule the world doing their for ask me why I have won’tbeen credit the with president collective effortsMy for the past few years — low gas prices. answer is simple: decommissioning Government neverhuman makesinteraction? the price of Pretty go much every mandate something down andCOVID simply takes credit (under thenews. guiseGas of your safety and health) for good pricing is subject to has been about not being many global factors. Nowwith therecertain are humans. Well, unlessto it’saddressing for bread and government answers some of circuses like sporting events, them to keep prices stable forgambling, Americans, select “protests,” liquor stores, but ourconcerts, government has none of them in dispensaries andthings specialit gatherings place. The only has in placedeemed in the
November J25-D ecember 8, 2015 2021 ANUARY 15-28,
worthy our know-it-all electedAnother betters. long runbyalways hurt consumers. But services, Thanksgiving, fact church is that unemployment reaches a certain Christmas, and drinksAnd withwhile friends, level baseddinners on the economy. the court appearances where onegovernment mightand bragplaces the number is low, on-one could occur did about it’s morecommunications than likely the government what’s happening our number laws arebeing verboten. something to causetothat low Yes, thenot German is emphasized for a reason. — and in a good way. Conversely, when You picks must ask why. look business up, yourself it’s because theJust people at technology the widgets past several who need to buy whodecades were notand what it’swidgets designed to do. How many folks buying because the economy wasdo you know who their lives inside a less contracting duelive to natural (or unnatural, than 6-inch screen? at what Facebook government caused)Look reasons, decided we is moving with itsThe “Meta” better buy towards some widgets. government technology your life while never had nothing— to living do with this. leaving your homefour: in a virtual world where ■ Prediction In keeping with everything you want, need and desire is things the government does, I predict thejust agovernment click away.will They’ve made movies about to manipulate the numbers this folks, and they legion.isIfgetting you know a make the claim the are economy lick about history, you hard knowitjust how much better because of how is working to of ourallrevolution, endingAmericans.” of slavery and help of us “working Now freedom movements took across you might say, “Craig, youplace always say the this dinner table, at the pub orbecause in church. about President Obama youYou’d don’t understand why aright government lusting to like him.” You’re in a sense. I don’t control hasman, outlawed them. know the but what I know of him and No one plans a revolution drunk his thinking, I don’t like it or him oneatiota. the ballgame screaming idol. Before you gooroff, however,atItheir didn’t like Conversely, everyone at riots President Bush and his“protesting” bailouts, stimulus helped tyrants. These opposing and histhe abandoning the free marketexamples to save are eyes.him the happening free market.right Andbefore I don’tour know There’s adage thatdoes, says and the either. What an theold government something like youisput 1,000 monkeys only thing it canif do, hurt the economy. on 1,000it typewriters foror1,000 years, onein Unless does nothing put criminals of willofwrite Shakespeare. No they jailthem instead partnering with them, nothing wouldn’t. They are monkeys, incapable. the government does will help.and Always look So no chance unless some humansays at itthere’s this way, whatever the government is doing thewhatever monkeys’the work. What’s it is doing, name of thethe law it chance of vaccine manufacturers is passing, or whatever the name working or goal of on MRNA vaccine specifically thean bureaucracy it is presenting to to thefight against spike the protein humantoreceptors people, aexpect polarwith opposite occur. that’sI magically attached to a bat virus? It guess what I’m saying is that wouldn’t happen was perhaps it’s time unless to get some out ofhuman our own doing the work on both. So what we’re perspective. There’s plenty of history living is something that could neverto booksunder and historical research out there occur begin naturally. to understand that all of this has Vaccines thatAnd workit take happened before. will years again,and decades studies to be placed whether of thetesting topic isand people or government. into society. we’ve taken one which The bestYet, recommendation is to find has never worked trials and Google installed it some books or tryinthat whole within a few months all under the thing. There’s a lot of— information onguise the of allowing us to “get Great Depression. Theback truthtoisnormal”. it wasn’t Yet year one in, and arguably worsegot evenone a good untilit’sthe government than ever across arena of You involved. There’severy also plenty oflife. research can certainly takewarm the shot, butwhen I’d suggest on the medieval period the aplanet good was lookmuch beyond the adthan campaigns. warmer today with Just lot think where’d we’d be if we a whole lessofpeople (and warmer well had done mywas suggestion in the beginning before man here at all). And yep, of this column — killing with theother added bonus people have been surprised of uplifting with friends, family and people sincetimes history was first written. freedom the some past two years.will help stop Maybe research thankful, safe we’ll and enjoy all ofBethese trends.vigilant, Otherwise, be fellow this holiday season.like Weit in saying humans we’ve never seen anything might not And get another even this free. our lives. not in aone good way. Craig Craig Hall Hall isis owner ownerand andpublisher publisherofofthe the Business Business Times. Times. Reach Reachhim himatat424-5133 424-5133or publisher@thebusinesstimes.com. or publisher@thebusinesstimes.com. F ✦
November 25-December 8, 2021
The Business Times
Rube Goldberg scheme threatens drug industry — as well as our health When government steps in with a massive regulatory scheme to control prices in an industry, the effort equates to a Rube Goldberg machine — that is, a way of doing something in an unnecessarily complicated way. Imposing Rube Goldberg price controls on the pharmaceutical industry means lives will be diminished and lost. After all, the pharmaceutical industry produces drugs, medicines and vaccines that improve and save lives. But Raymond when government Keating seeks to inflict price controls, it’s effectively limiting potential returns on innovative endeavors in the areas of drugs, medicines and vaccines fraught with high costs, uncertainty and risk. Keep in mind that due in part to strong property rights and not imposing price controls, the United States is a global leader in pharmaceutical development and innovation. While creating new and improved drugs, medicines and vaccines are costly and complex endeavors in and of themselves, the policy framework for incentivizing these vital undertakings should remain straightforward and simple. That policy framework should be low taxes, a light regulatory touch and a strong system for protecting property rights through patents. If elected officials are concerned about affordability for certain segments of society, then that policy choice should be dealt with directly. While any kind of consumer subsidies along those lines would come with their own costs and consequences, they wouldn’t carry the broad negatives for entrepreneurship, investment and innovation in the pharmaceutical industry — and resulting negatives for patients — price controls would. But rather than keep policy straightforward and aligned with common sense and sound economics, assorted elected officials — among then President Joe Biden and many Democrats in Congress — continue to push for price controls. In true Rube Goldberg fashion, the latest scheme would have the process of price controls getting under way via Medicare, with the Department of Health and Human Services secretary ranking drugs according to the amount spent and setting a maximum price on at least the top 20 based on an assortment of criteria and for varying lengths of time. For good measure, manufacturers refusing government price dictates would face a 95 percent tax on revenues from the targeted drug. An inflationary rebate penalty would be imposed on price increases on drugs exceeding the rate of
Price controls not only create unnecessary complexity, but also reduce incentives for entrepreneurship, investment and innovation in the drug industry. inflation — another form of price controls. It’s all rather ridiculous, although with tragic consequences. Elected officials have long sought to inflict price control schemes on an industry that improves and saves lives by producing drugs, medicines and vaccines — while also reducing overall medical care expenditures since drugs eliminate the need for more costly treatments. One would hope the realities of what drug makers accomplished during the COVID-19 pandemic — producing vaccines in a near-miraculous period of time — would at least give pause to the drive for price controls. But that’s not the case. And make no mistake, the latest Rube Goldberg price control scheme would build the regulatory infrastructure for the inevitable expansion of price controls. Indeed, this would only be the first step in the march to widespread price controls. Investors certainly understand this fact, and entrepreneurship would suffer in the industry. The pharmaceutical manufacturing sector of the U.S. economy is about smaller businesses with 59.4 percent of employer firms having fewer than 20 employees, 78.9 percent fewer than 100 employees and 91.3 percent fewer than 500 employees. The traditional idea of a Rube Goldberg machine is the machine would produce the same product via its chain reaction complex process. But when it comes to the Rube Goldberg regulatory scheme of price controls on prescription drugs, medicines and vaccines, the results would turn out quite differently. Price controls not only create unnecessary complexity, but among its consequences are reduced incentives for entrepreneurship, investment and innovation in the prescription drug industry; lost competitive advantages for U.S. firms; fewer high-paying jobs in the industry; and, most tragically, diminished patient care, including more deaths. In sum, price controls are a bad idea and ideal political tool for undermining the production of new and improved drugs, medicines and vaccines. Raymond Keating is chief economist for the Small Business & Entrepreneurship Council. For more information, log on to www.sbecouncil.org. F
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Opinion Business Briefs Business People Almanac
n GRAND JUNCTION REAL ESTATE TEAM TO PRESENT BENEFIT ROCKESTRA EVENT
The Shafer Team at Coldwell Banker Distinctive Properties will present a benefit performance of Grand Junction Rockestra. The event is set for 7:30 p.m. Jan. 22 at the Avalon Theater at 645 Main St. Tickets range from $10 to $35. VIP tickets are available for an additional $25 and include three beverage tickets, appetizers and time with musicians. Tickets can be purchased online at the website at Julie Shafer www.shafercolorado.com/rockestra. Proceeds will benefit the Colorado Mesa University music scholarship program. “We are excited to present this unique opportunity to the members of our community,” said Julie Shafer from the Shafer Team. “It is an honor to be able to support CMU’s music scholarship program and local musicians. We are thankful that we are able to help showcase the talent in our area.” Rockestra features a rock band backed by a symphony orchestra and includes local singers and musicians performing rock hits from the past and present. Coldwell Banker Distinctive Properties serves a total of nine markets in Colorado, Idaho and Montana. For more information, visit www.cbdistinctive.com. n GRAND VALLEY POWER SEEKS APPLICANTS FOR ANNUAL YOUTH LEADERSHIP CAMP Grand Valley Power based in Grand Junction will accept applications through Jan. 14 for the Cooperative Youth Leadership Camp. Grand Valley Power will sponsor two high school juniors or seniors to attend the camp set for July 16 to 21 at the Glen Eden Resort near Steamboat Springs. A total of nearly 100 students from four states are expected to attend and learn about the electric industry and how electric cooperatives work. Applications are open to high school students who’ll be at least 16 years old at the time of the camp and whose parents or legal guardians are members of Grand Valley Power. Along with applications, students must submit a 500-word essay. For applications or more information, visit the website at www.gvp.org/youth-leadership-programs.
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The Birth Place at Community Hospital in Grand Junction has joined a statewide network providing birthing services. “We are extremely proud to be a new member of the Colorado BabyFriendly Hospital Collaborative,” said Marsha Bagby, director Marsha Bagby of the Birth Place at Community Hospital. “Our staff has worked very closely with this organization, and it underscores our commitment toward evidence-based maternity and breastfeeding care for mothers and babies in our community.” The network of 27 hospitals and birthing centers accounts for about 37 percent of births annually in Colorado. The network is in turn part of a group of more than 500 hospitals and centers in the United States and more than 22,000 facilities worldwide. The collaborative works to increase breastfeeding initiation, duration and exclusivity rates in Colorado through breastfeeding support practices. The group also promotes policies and practices to improve the health outcomes of mothers and babies. The United Nations Children’s Fund and World Health Organization launched the Baby-Friendly Hospital Initiative in 1991 to assist and recognize hospitals that offer optimal care for mothers and babies. The Colorado Department of Public Health and Environment oversees the effort at the state level. The Birth Place at Community Hospital operates an eight-bed facility that offers labor, delivery, recovery and postpartum care. The facility also promotes breastfeeding and bonding. For additional information, log on to the website located YourCommunityHospital.com.
n ASCENSION FITNESS STUDIO OPENS IN GRAND JUNCTION Ascension Fitness Studio has opened in Grand Junction. Located at 2482 Patterson Road, Suite 100, the studio offers around-the-clock access, a variety of exercise equipment and small group classes. The studio also hosts other businesses, including Gracie Jiu Jitsu Grand Junction, Kinetic Wellness Physical Therapy and Mountain Air Roasters. Anthony Fino, owner of Ascension Fitness Studio, brings to the endeavor experience in the health and wellness industry. He’s a certified personal trainer with the National Association of Sports Medicine. Fino said he opened the studio to offer a challenging, yet also judgment-free and welcoming, environment. The studio offers Les Mills Sprint and Pilates Mat Flow classes as well as what are branded as Ascension Signature Classes combining weight lifting and high-intensity interval training. An app enables members to manage their fitness experiences from their mobile devices, including booking classes and scheduling training sessions. Ascension Fitness Studio offers memberships with no contracts or enrollment or cancellation fees. For more information, call 433-7145 or visit www.ascension-fit.com. n FREDDY’S FROZEN CUSTARD & STEAKBURGERS LAUNCHES HOLIDAY GIFT CARD PROMOTION Freddy’s Frozen Custard & Steakburgers has launched a holiday promotion in which customers who purchase a $25 gift card will receive a free $5 bonus card good for purchases from Jan. 1 to Feb. 15. Since its founding in 2002, Freddy’s has grown to a total of more than 400 locations in 34 states. In Grand Junction, restaurants are located at 737 Horizon Drive and 2489 U.S. Highway 6 & 50. For more information, visit https://freddysusa.com. F
Six grants awarded to address housing needs The Bray Cares Foundation in Grand Junction awarded six more grants worth a total of $35,000 to help nonprofit organizations address housing needs in Mesa County. Grants were awarded to Amos Supportive Housing Association, Foster Alumni Mentors, Grand Valley Catholic Outreach, Habitat for Humanity of Mesa County, HomewardBound of the Grand Valley and Karis. The latest grants bring to $75,000 total Robert Bray funding awarded since the Bray and Co. real estate firm established the foundation three years ago. “In our 75th year as a company, we set out to accomplish two goals: create an endowment to ensure the Bray Cares Foundation can continue
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its work indefinitely and have 100 percent donation participation from our agents and staff. I am delighted to say we have achieved both,” said Robert Bray, chief executive officer of Bray and Co. Bray and Co. also expanded its selection committee for grants to include agents and staff. Bray and Co. works with the Western Colorado Community Foundation to provide funds to organizations and projects offering emergency shelter and rent assistance, affordable housing for those dealing with special needs and assistance to seniors and veterans to stay in their homes. For more information about Bray and Co., call 242-3647 or visit www.brayandco.com. For more information about the Western Colorado Community Foundation, visit https://wc-cf.org F
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n LEADER OF QUALITY HEALTH NETWORK ANNOUNCES IMPENDING RETIREMENT
Dick Thompson, executive director and chief executive offier of Quality Health Network, has announced he’s retiring from his position with the health information exchange based in Grand Junction. Thompson expects to retire effective April 1. A search committee has been formed to find his successor. Thompson has led Quality Health Dick Thompson Network for more than 17 years. QHN helps medical, behaviorial and human services providers in Western Colorado securely share health information to coordinate care, reduce duplication of services and identify individuals at risk. All of the hospitals and more than 90 pecent of health care providers in its service area participate in the network. “I am still in awe of the fact that I got to play a prt in one of the most innovative and collaborative health communities in our nation. It has been incredibly fun and rewarding,” Thompson said. “When we dream in Western Colorado, our dreams become reality through hard work, motivation, collaboration and detemrination. We have accomplished so much, and I’m extremely grateful to have been able to work with this team and our network partners, communities, colleagues, stakeholders and the board of directors.” Dr. Greg Reicks, chairman of the QHN board, praised Thompson and his contributions. “He’s a true innovator, collaborator and advocate for improving quality and access to health care for all.” Mike Stahl, another QHN board member, agreed. “Dick has helped build and guide this organization from the ground up.There was no playbook, there was no model before us. It was a community health vision founded by numerous organizations and flawlessly developed and growth with Dick at the helm. We definitely have big shoes to fill.” Along wih its health information exchange, QHN developed the Community Resource Network. The CRN provides on a secure exchange information about clients, including family and housing, resources sought in the past and who’s been contacted to request services. The CRN also offers information about available resources and the appropriate organizations to contact for assistance. The CRN earned national recognition in placing second in a health innovation challenge by the Robert Wood Johnson Foundation. For more information about the Quality Health Network and Community Resource Network, log on to www.qualityhealthnetwork.org or visit the website located at https:/.communityresourcenet.org.
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SHARE YOUR NEWS The Business Times welcomes submissions for free publication in Business People and the Almanac calendar of events. Email submissions to phil@thebusinesstimes.com or submit a news release online at www.thebusinesstimes.com. n WOMAN RETURNS TO GRAND VALLEY AND JOINS REAL ESTATE COMPANY Debbie Rich has returned to the Grand Valley to work as a broker associate with Coldwell Banker Distinctive Properties in Grand Junction. “I left a part of my heart here, and I’m delighted to be back in the valley,” Rich said. A former television reporter who also operated a wallpaper store in Grand Junction, Rich moved away 25 Debbie Rich years ago. She started her real estate career in 1999 and worked in Southern California and Wichita, Kan. In addition to her experience with existing homes, she’s helped buyers build new homes. She said she prides herself on her relationship-driven approach and serving as an advocate for her clients. Coldwell Banker Distinctive Properties serves a total of nine markets in Colorado, Idaho and Montana. For more information, visit www.cbdistinctive.com. n BRAY REAL ESTATE ANNOUNCES ADDITION OF BROKER ASSOCIATE Jeremy Hayden has joined Bray Real Estate in Grand Junction as a broker associate. Hayden has worked in residential and commercial real estate and real estate investing since 2016 and ranks among the top 10 percent of producers in the Grand Junction Area Realtor Association. “I really try to ensure my Jeremy Hayden clients have a memorable and stressfree real estate experience by staying on top of all the details,” Hayden said. Stewart Cruickshank, sales manager at Bray Real Estate, welcomed Hayden. “Jeremy is a terrific fit at Bray. His professional approach and care for his clients is top notch, and we are thrilled to have him on our team.” Bray Real Estate operates offices at 1015 N. Seventh St. For more, call 242-3647 or visit www.brayandoco.com. F
Applicants sought for Young Professionals Network board Applications will be accepted through Dec. 3 from volunteers interested in serving on the board of directors of the Young Professionals Network of Mesa County. The board plans and coordinates events held throughout the year and provides opportunities for
members to connect. Board members serve two-year terms and may serve up to three terms. To apply or obtain more information, visit the website at www.ypnmc.org/ypn-board. F
November 25-December 8, 2021
Dec. 1 n Free presentation on the basics of cybersecurity for small businesses, 10 a.m. to noon, Business Incubator Center, 2591 Legacy Way, Grand Junction. 243-5242 or https://gjincubator.org Dec. 2 n Fruita Area Chamber of Commerce Welcome Thursday Friends networking lunch, noon, Rib City Grill, 455 Kokopelli Drive, Unit E. 858-3894 or https://fruitachamber.org n Fruita Area Chamber of Commerce Women in Business free end of the year party, 5:30 to 7:30 p.m., JXN Station, 571 25 Road, Grand Junction. 858-3894 or https://fruitachamber.org Dec. 3 n Young Professionals Network of Mesa County members-only Christmas party, 5:30 to 7:30 p.m., Springhill Suites, 236 Main St., Grand Junction. www.ypnmc.org Dec. 8 n Young Professionals Network of Mesa County business before hours, 7 to 8:30 a.m., Enstrom Candies, 701 Colorado Ave., Grand Junction. www.ypnmc.org Upcoming n Fruita Area Chamber of Commerce Welcome Thursday Friends networking lunch, noon Dec. 9, Camilla’s, 206 E. Aspen Ave. 858-3894 or https://fruitachamber.org n Fruita Area Chamber of Commerce business after hours event, 5:30 to 7 p.m., Dec. 9, Alpine Bank, 125 N. Park Square, Fruita. Admission $5 for chamber members, $10 for others.858-3894 or https://fruitachamber.org n Grand Junction Area Chamber of Commerce economic outlook luncheon, noon to 1:30 p.m. Dec. 13, Colorado Mesa University ballroom. Admission $23 for chamber members, $28 for others. 242-3214 or https://gjchamber.org n Young Professionals Network of Mesa County lunch conversation about the value of human resources, noon to 1 p.m., Dec. 14, Mesa County Libraries, 443 N. Sixth St., Grand Junction. Lunch provided. Reservations required. www.ypnmc.org n Palisade Chamber of Commerce business after hours event, 5:30 to 7 p.m. Dec. 15, Grand Valley National Bank, 600 W. Eighth St. Admission $6 in advance. https://palisadecoc.com or 464-7458 n Fruita Area Chamber of Commerce Welcome Thursday Friends networking lunch, noon Dec. 16, Cattlemen’s Bar and Grill, 1369 12 1/2 Road, Loma. 858-3894 or https://fruitachamber.org n Coffee Club Networking Group, 9 to 10 a.m. Dec. 17, FWorks, 325 E. Aspen Ave. Fruita. 858-3894 or https://fruitachamber.org n Grand Junction Area Chamber of Commerce Zoom presentation on chamber membership, noon to 1 p.m. Jan. 25. 242-3214 or https://gjchamber.org n Grand Junction Area Chamber of Commerce annual banquet, 6 to 11:30 p.m. Jan. 28, Grand Junction Convention Center, 159 Main St. 242-3214 or https://gjchamber.org F
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