View Breaking Local News Headlines in Denver from the Denver Business Journal. Access business resources, company profiles, business advice columns, local jobs and more.
Wind powers Xcel Energy to top of the charts — again
Xcel Energy Inc. is at the top of the list for the amount of wind-based energy the eight-state utility has on its system, according to a new report from the American Wind Energy Association (AWEA).
This is the 10th year in a row the energy company nabbed the top spot. At the end of 2013, Minneapolis-based Xcel (NYSE: XEL) had 5,080 megawatts of wind energy on its electricity grid, enough wind power to meet the energy needs of about 2.5 million homes, according to the utility.
Wind was about 15…
Denver-owned tiremaker TreadWright moves HQ, grows
TreadWright, a small but growing manufacturing company that converts recycled tires into new tires for light trucks, SUVs and off-road vehicles, has moved its headquarters from South Dakota to Houston.
TreadWright is owned by Denver private equity firm Pine Street Growth Partners, which bought it in 2011. Peter Sloan, TreadWright's president, is a Pine Street principal.
With a new infusion of capital from Pine Street, the company decided that Houston was the best place to grow. It has 20 people…
Fewer 'underutilized' workers in Colorado, but rate still high
The federal government’s broadest measure of job status shows that 12.5 percent of Colorado's workers were "underutilized" in 2013, an improvement from 2012's 14.6 percent rate, the U.S. Labor Department reported Wednesday.
Still, the state’s underutilized-worker rate — known as U-6 — remains well above the pre-recession rate, according to the report from the Labor Department’s Bureau of Labor Statistics.
The report shows that while the job picture has been improving in Colorado, the…
Enterprise acquires Denver car-sharing service
A Denver car sharing service has been purchased by St. Louis-based Enterprise Holdings, the company announced Thursday.
OccasionalCar has been in operation since 2009.
The terms of financial terms of the acquisition were not disclosed.
The company will continue to operate under its current name through the summer. Enterprise Holdings operates Enterprise CarShare, which OccasionalCar will join.
> Click here to read the full story from our sister publication, St. Louis Business Journal.
Denver's retail construction lags with available space dwindling
While metro Denver’s retail market is lagging behind the office and industrial markets — as is often the case in commercial real estate anywhere — vacancy rates have still dropped for the past year and retailers are leasing more space than they’re vacating, according to the first quarter MarketView report by CBRE Group Inc.
The average direct vacancy rate stood at 6.6 percent, Los Angeles-based CBRE Group said, while the average retail lease rate climbed to $15.48, up both from Q4…
University of Colorado law school to get its largest gift ever
The University of Colorado Boulder Law School Wednesday announced it will receive $10 million in a bequest — the largest cash gift in its history — to endow two new faculty chairs.
Byron Chrisman, who graduated from Colorado Law in 1966 and went on to become a commercial real estate developer, and wife Carlene Chrisman pledged the money from their estate to establish the Byron and Carlene Chrisman Chairs in Free Enterprise.
“My goal is not to see just capitalism and free enterprise taught…
Wells Fargo CEO: 'How much longer do you plan to stay?'
Wells Fargo & Co. CEO John Stumpf fielded many questions on the company's latest earnings call with analysts, but among the more pointed questions involved his tenure at the helm of Colorado's biggest bank.
"How much longer do you plan to stay around, and who would be in the pool of potential successors?" asked Mike Mayo, an analyst with CLSA.
"I am glad you asked," Stumpf replied. "I am 60. I know you think I look a lot younger. I plan to stay here as long as the board is OK with that, and they…
Catholic Health Initiatives CEO makes list of top minority executives
A national magazine again named the president and CEO of Catholic Health Initiatives as one of the 25 most influential minority executives in health care.
Kevin Lofton, head of the Englewood-based national hospital system, has made Modern Healthcare’s biennial list each time it’s been published, starting in 2006. He oversees a non-profit that operates 89 hospitals in 18 states and co-owns Centura Health, Colorado’s largest health system.
Modern Healthcare noted that Catholic Health Initiatives…
Q&A: Mary Kelly speaks -- and does social media, too
Mary Kelly is a woman of many faces. Literally. She's a motivational speaker, author, business consultant, university professor, economist, and she retired as a naval commander after 21 years of service.
Kelly capitalized on her years of discipline learned in the military by combining it with a humorous approach to teach companies how to increase their profits, take advantage of shifting economics and become more productive.
She also learned the ins-and-outs of social media in the same way…
Economic outlook for Colorado slips
A new report by the American Legislative Exchange Council finds Colorado has fallen in an annual ranking of the economic outlook of the states.
Colorado, which last year was No. 16 based on 15 factors that historically have been proven the best determinants of economic success, fell to No. 22 in this year's ranking. A PDF of the report can be downloaded here.
Colorado previously ranked as high as second, in both 2009 and 2010, before its position on the list slid to No. 6 in 2010 and to No. 8 in…