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Strategies: How you can cash in on cash balance retirement plans
Successful professionals and business owners worry about retirement savings, just like everyone else these days. Do they have enough socked away? Could taxes, inflation and healthcare costs rise and nibble away at their savings? What about new regulations and legislation?
That’s why many high-earners are increasingly turning to little-known cash balance defined benefit plans, which are similar to old-fashioned pensions but have some 401(k) twists.
These plans allow business owners to save up…
DaVita's CFO is leaving the company
DaVita’s top financial executive is leaving to go back to work in the biopharmaceutical industry.
Company leaders DaVita HealthCare Partners Inc. (NYSE: DVA), the Denver-based kidney-care giant, did not identify the company for which CFO Garry Menzel would be going to work. But they thanked him for his service on Friday.
“I appreciate Garry’s service and contribution to the DaVita Village,” said Kent Thiry, DaVita co-chairman and CEO. “I wish him all the best as he returns to his professional…
Colorado attorney general asks Supreme Court to toss multi-state marijuana suit
Colorado Attorney General Cynthia Coffman Friday responded to a lawsuit filed with the U.S. Supreme Court over Colorado's law legalizing recreational marijuana.
The suit, filed by Nebraska and Oklahoma in December, seeks to overturn Amendment 64, which legalized marijuana in Colorado in 2012 with the first recreational sales in Jan. 2014, by arguing the state is violating the federal Supremacy Clause.
The states say that marijuana coming across the border from Colorado has led to increased crime…
Just $10 million remains for Colorado's unpassed bills in this year's budget
Colorado legislators officially introduced the 2015-16 budget bill on Friday, and it is chock full of numbers, such as $10.25 billion in general-fund spending and $216 million in increased K-12 money.
But for business leaders watching a host of bills move through the process in the Legislature right now, the most important number is this: $10 million.
That is how much room is set aside in the budget for hundreds of bills that are under consideration but have not yet died or become law in this session.…
Metro Denver unemployment rate 4.5% in February
Metro Denver's unadjusted unemployment rate stood at 4.5 percent in February, unchanged from January but down from 6.1 percent in February 2014, according to raw county jobs estimates released Friday by the Colorado Department of Labor and Employment.
The 4.5 percent unadjusted jobless rate is for a 10-county area that includes Denver, Aurora, Lakewood, Broomfield and Centennial, but not Boulder County. Boulder County's unemployment rate was 3.9 percent last month, unadjusted.
By county, February's…
Powdr purchases producer of Zombie Run, Denver Oktoberfest
Human Movement Management, a Louisville-based active entertainment and event production company, has been acquired by Powdr Corp.
HMM, founded by Jeff Suffolk, produces a number of mass participatory events, including running races, festivals, triathlons, obstacle races and other outdoor events.
The Denver Business Journal last year named HMM one of its fastest-growing private companies, with 2013 revenue of $9.1 million, up 806 percent from the previous year.
"Jeff’s leadership in the events…
Despite upbeat Colorado jobs report, CU analyst sees signs of energy-slump impact
Colorado's latest report on jobs and unemployment shows a "strong" jobs picture in the state, but buried in the numbers are signs of the growing impact of the state's oil and gas slump, says a University of Colorado Boulder analyst.
"Falling oil and gas prices will impact oil and gas industry growth in the state, [and] evidence of the slowing industry shows in the February employment numbers," Friday, said Brian Lewandowski, associate director of business research at CU-Boulder's Leeds School of…
Medtronic buys Boulder-based hearing-implant maker Sophono
Medtronic bought Colorado-based maker of magnetic hearing implants Sophono Inc. for an undisclosed amount, the company announced Thursday.
Boulder-based Sophono's Alpha 2 bone-conduction hearing device turns sounds into vibrations, which then travel through patients' skin to their skull bones, Sophono said on its website.
Medtronic will incorporate Sophono into its ear, nose and throat division.
Continue reading this story on our sister publication Minneapolis/St. Paul Business Journal's website.
Inside the Colorado pizzeria that could be the next Chipotle (Slideshow)
In this day and age, pretty much everyone's familiar with Chipotle Mexican Grill's fast-casual concept of lining up for a made-to-order meal using quality ingredients.
And according to a new Thrillist report on "The next Chipotle: 12 chains ready to blow up," Pizzeria Locale might just be the next Chipotle.
Pizzeria Locale opened its first Denver-area location in the fast-casual format in 2013 at 550 Broadway with support and an undisclosed amount of financial backing from Denver-based Chipotle.…
Colorado adds 12,200 jobs; jobless rate unchanged at 4.2%
Colorado employers added 12,200 payroll jobs in February, well above the average monthly gain for the last year, and the state's unemployment rate remained at 4.2 percent for the third straight month as the state's labor force grew, the Colorado Department of Labor and Employment reported Friday.
The gain in non-farm payroll jobs from the previous month was nearly twice the state's average monthly gain of 6,617 jobs over the last 12 months, according to CDLE data.
The numbers demonstrated that,…