<![CDATA[Colorado Springs Gazette RSS - business]]> http://gazette.com/rss/business Tue, 22 Jul 2014 17:25:56 -0600 Zend_Feed http://blogs.law.harvard.edu/tech/rss <![CDATA[Chrysler recalls Jeep SUVs for ignition switches]]> http://gazette.com/chrysler-recalls-jeep-suvs-for-ignition-switches/article/feed/139627?custom_click=rss http://gazette.com/chrysler-recalls-jeep-suvs-for-ignition-switches/article/feed/139627?custom_click=rss DETROIT (AP) — The ignition switch defects that engulfed General Motors are now a rapidly growing problem at Chrysler.

Chrysler said Tuesday it is recalling up to 792,300 older Jeep SUVs worldwide because the ignition switches could fall out of the "run" position, shutting off the engine and disabling air bags as well as power-assisted steering and braking. That's the same problem that has forced GM to recall more than 15 million cars over the last six months.

Chrysler's recall covers 2005-2007 Grand Cherokees and 2006-2007 Commanders. The company said it is not sure exactly how many will be recalled, but said it will notify customers by mid-September.

Chrysler said an outside force such as a driver's knee can knock s

Read more on Colorado Springs Gazette


]]> DETROIT (AP) — The ignition switch defects that engulfed General Motors are now a rapidly growing problem at Chrysler.

Chrysler said Tuesday it is recalling up to 792,300 older Jeep SUVs worldwide because the ignition switches could fall out of the "run" position, shutting off the engine and disabling air bags as well as power-assisted steering and braking. That's the same problem that has forced GM to recall more than 15 million cars over the last six months.

Chrysler's recall covers 2005-2007 Grand Cherokees and 2006-2007 Commanders. The company said it is not sure exactly how many will be recalled, but said it will notify customers by mid-September.

Chrysler said an outside force such as a driver's knee can knock s]]> Tue, 22 Jul 2014 18:17:26 -0600 <![CDATA[Ex-BP engineer's retrial postponed]]> http://gazette.com/ex-bp-engineers-retrial-postponed/article/feed/139689?custom_click=rss http://gazette.com/ex-bp-engineers-retrial-postponed/article/feed/139689?custom_click=rss NEW ORLEANS (AP) — The August retrial of a former BP engineer accused of obstructing justice in an investigation of the 2010 Gulf of Mexico oil spill has been postponed while an appeals court decides whether a judge was right to throw out his earlier conviction.

Federal prosecutors allege that Kurt Mix illegally deleted text messages to obstruct an investigation involving the amount of oil flowing from BP's Macondo well after the Deepwater Horizon rig explosion.

Mix, who pleaded not guilty, was convicted in December. But U.S. District Judge Stanwood Duval ordered a new trial, saying the verdict had been tainted by remarks the forewoman made to other jurors.

Federal prosecutors have appealed Duval's decision.

Read more on Colorado Springs Gazette


]]> NEW ORLEANS (AP) — The August retrial of a former BP engineer accused of obstructing justice in an investigation of the 2010 Gulf of Mexico oil spill has been postponed while an appeals court decides whether a judge was right to throw out his earlier conviction.

Federal prosecutors allege that Kurt Mix illegally deleted text messages to obstruct an investigation involving the amount of oil flowing from BP's Macondo well after the Deepwater Horizon rig explosion.

Mix, who pleaded not guilty, was convicted in December. But U.S. District Judge Stanwood Duval ordered a new trial, saying the verdict had been tainted by remarks the forewoman made to other jurors.

Federal prosecutors have appealed Duval's decision.]]> Tue, 22 Jul 2014 18:17:06 -0600 <![CDATA[Beretta: Gun law forcing move out of Maryland]]> http://gazette.com/beretta-gun-law-forcing-move-out-of-maryland/article/feed/139676?custom_click=rss http://gazette.com/beretta-gun-law-forcing-move-out-of-maryland/article/feed/139676?custom_click=rss ACCOKEEK, Md. (AP) — Beretta U.S.A. Corp. announced Tuesday that company concerns over a gun-control law enacted in Maryland last year have made it necessary to move its weapons making out of the state to Tennessee.

The well-known gun maker said it will move to a new production facility it is building in Gallatin that is set to open in mid-2015.

Beretta general manager Jeff Cooper said that a sweeping gun-control measure that was passed in Maryland last year initially contained provisions that would have prohibited Beretta from being able to make, store or even import into Maryland products that the company sells around the world.

Read more on Colorado Springs Gazette


]]> ACCOKEEK, Md. (AP) — Beretta U.S.A. Corp. announced Tuesday that company concerns over a gun-control law enacted in Maryland last year have made it necessary to move its weapons making out of the state to Tennessee.

The well-known gun maker said it will move to a new production facility it is building in Gallatin that is set to open in mid-2015.

Beretta general manager Jeff Cooper said that a sweeping gun-control measure that was passed in Maryland last year initially contained provisions that would have prohibited Beretta from being able to make, store or even import into Maryland products that the company sells around the world.]]> Tue, 22 Jul 2014 18:16:52 -0600 <![CDATA[Board puts soda tax before San Francisco voters]]> http://gazette.com/board-puts-soda-tax-before-san-francisco-voters/article/feed/139697?custom_click=rss http://gazette.com/board-puts-soda-tax-before-san-francisco-voters/article/feed/139697?custom_click=rss SAN FRANCISCO (AP) — San Francisco voters will be asked this fall to approve a 2-cent-per-ounce tax on sugary drinks sold in the city.

The Board of Supervisors voted 6-4 on Tuesday to put the tax on sodas, sports drinks and other beverages sweetened with sugar on the November ballot. It would have to be approved by two-thirds of the city's voters to take effect.

City officials have estimated the measure would raise somewhere between $31 million and $52 million a year. The proceeds would go toward nutrition, health, disease prevention, recreation and school physical education programs.

The tax would be imposed on beverage distributors.

Read more on Colorado Springs Gazette


]]> SAN FRANCISCO (AP) — San Francisco voters will be asked this fall to approve a 2-cent-per-ounce tax on sugary drinks sold in the city.

The Board of Supervisors voted 6-4 on Tuesday to put the tax on sodas, sports drinks and other beverages sweetened with sugar on the November ballot. It would have to be approved by two-thirds of the city's voters to take effect.

City officials have estimated the measure would raise somewhere between $31 million and $52 million a year. The proceeds would go toward nutrition, health, disease prevention, recreation and school physical education programs.

The tax would be imposed on beverage distributors.]]> Tue, 22 Jul 2014 18:16:52 -0600 <![CDATA[Undercover probe finds health law failings]]> http://gazette.com/undercover-probe-finds-health-law-failings/article/feed/139688?custom_click=rss http://gazette.com/undercover-probe-finds-health-law-failings/article/feed/139688?custom_click=rss WASHINGTON (AP) — Congressional investigators say they used fake identities to get taxpayer-financed health insurance under President Barack Obama's law.

The nonpartisan Government Accountability Office says its undercover investigators were able to get subsidized health care in 11 out of 18 attempts. The GAO is still paying premiums for the policies, even as the administration attempts to verify phony documentation.

The agency's findings are in testimony to be delivered Wednesday at a House Ways and Means Committee hearing.

Committee Chairman Dave Camp, a Michigan Republican, says the new system for covering the uninsured is rife with incompetence, waste and the potential for fraud.

Read more on Colorado Springs Gazette


]]> WASHINGTON (AP) — Congressional investigators say they used fake identities to get taxpayer-financed health insurance under President Barack Obama's law.

The nonpartisan Government Accountability Office says its undercover investigators were able to get subsidized health care in 11 out of 18 attempts. The GAO is still paying premiums for the policies, even as the administration attempts to verify phony documentation.

The agency's findings are in testimony to be delivered Wednesday at a House Ways and Means Committee hearing.

Committee Chairman Dave Camp, a Michigan Republican, says the new system for covering the uninsured is rife with incompetence, waste and the potential for fraud.]]> Tue, 22 Jul 2014 18:16:35 -0600 <![CDATA[Ackman goes after Herbalife's nutrition clubs]]> http://gazette.com/ackman-goes-after-herbalifes-nutrition-clubs/article/feed/139614?custom_click=rss http://gazette.com/ackman-goes-after-herbalifes-nutrition-clubs/article/feed/139614?custom_click=rss NEW YORK (AP) — Activist investor Bill Ackman once again denounced weight loss and nutritional supplements company Herbalife as a pyramid scheme, but Wall Street shrugged off his criticism and sent the company's stock soaring 25 percent Tuesday.

In a three-hour presentation in New York, Ackman's focused on Herbalife's "nutrition clubs," private settings where Herbalife distributors sell the company's products — such as weight-loss shakes — and recruit new members.

Ackman laid out a case that because the clubs run by Herbalife's distributors focus on recruiting instead of selling products, the clubs are by definition a pyramid scheme.

Read more on Colorado Springs Gazette


]]> NEW YORK (AP) — Activist investor Bill Ackman once again denounced weight loss and nutritional supplements company Herbalife as a pyramid scheme, but Wall Street shrugged off his criticism and sent the company's stock soaring 25 percent Tuesday.

In a three-hour presentation in New York, Ackman's focused on Herbalife's "nutrition clubs," private settings where Herbalife distributors sell the company's products — such as weight-loss shakes — and recruit new members.

Ackman laid out a case that because the clubs run by Herbalife's distributors focus on recruiting instead of selling products, the clubs are by definition a pyramid scheme.]]> Tue, 22 Jul 2014 18:16:32 -0600 <![CDATA[Discover Financial's 2Q profit jumps 7 percent]]> http://gazette.com/discover-financials-2q-profit-jumps-7-percent/article/feed/139653?custom_click=rss http://gazette.com/discover-financials-2q-profit-jumps-7-percent/article/feed/139653?custom_click=rss

LOS ANGELES (AP) — Discover Financial Services' net income grew 7 percent in the second quarter as credit card spending and overall loans increased from a year ago. The results beat Wall Street's expectations.

The credit card issuer and lender said Tuesday that card loans and sales volume for the company's namesake card both climbed 6 percent, reflecting increased spending by its cardholders. More of those cardholders also elected to carry balances rather than pay them off, helping drive interest revenue for the company.

Personal loans jumped 26 percent, while private student loans rose 5 percent. All told, total loans jumped 7 percent in the April-June quarter.

Read more on Colorado Springs Gazette


]]> LOS ANGELES (AP) — Discover Financial Services' net income grew 7 percent in the second quarter as credit card spending and overall loans increased from a year ago. The results beat Wall Street's expectations.

The credit card issuer and lender said Tuesday that card loans and sales volume for the company's namesake card both climbed 6 percent, reflecting increased spending by its cardholders. More of those cardholders also elected to carry balances rather than pay them off, helping drive interest revenue for the company.

Personal loans jumped 26 percent, while private student loans rose 5 percent. All told, total loans jumped 7 percent in the April-June quarter.]]> Tue, 22 Jul 2014 18:15:49 -0600 <![CDATA[FAA tells US airlines not to fly to Tel Aviv]]> http://gazette.com/faa-tells-us-airlines-not-to-fly-to-tel-aviv/article/feed/139605?custom_click=rss http://gazette.com/faa-tells-us-airlines-not-to-fly-to-tel-aviv/article/feed/139605?custom_click=rss

WASHINGTON (AP) — The Federal Aviation Administration told U.S. airlines Tuesday they are prohibited from flying to the Tel Aviv airport in Israel for 24 hours following a Hamas rocket explosion nearby. The ban began 12:15 p.m. EDT on Tuesday, the agency said in a statement.

Israeli Prime Minister Benjamin Netanyahu raised the issue of the ban with Secretary of State John Kerry, who was in the Middle East on Tuesday, State Department spokeswoman Jen Psaki said.

"The FAA's notice was issued to protect American citizens and American carriers. The only consideration in issuing the notice was the safety and security of our citizens," Psaki said in a statement.

Read more on Colorado Springs Gazette


]]> WASHINGTON (AP) — The Federal Aviation Administration told U.S. airlines Tuesday they are prohibited from flying to the Tel Aviv airport in Israel for 24 hours following a Hamas rocket explosion nearby. The ban began 12:15 p.m. EDT on Tuesday, the agency said in a statement.

Israeli Prime Minister Benjamin Netanyahu raised the issue of the ban with Secretary of State John Kerry, who was in the Middle East on Tuesday, State Department spokeswoman Jen Psaki said.

"The FAA's notice was issued to protect American citizens and American carriers. The only consideration in issuing the notice was the safety and security of our citizens," Psaki said in a statement.]]> Tue, 22 Jul 2014 18:15:45 -0600 <![CDATA[Airlines scrap Israel flights over missile fear]]> http://gazette.com/airlines-scrap-israel-flights-over-missile-fear/article/feed/139507?custom_click=rss http://gazette.com/airlines-scrap-israel-flights-over-missile-fear/article/feed/139507?custom_click=rss

When U.S. and European airlines quickly canceled flights to Israel Tuesday, they showed both a skittishness and a new sense of urgency in dealing with global trouble spots following last week's downing of a passenger plane over Ukraine.

Delta Air Lines turned around one of its jets midflight and indefinitely canceled all future flights between the U.S. and Israel after a rocket fired from the Gaza Strip landed near Tel Aviv's Ben-Gurion Airport. Other U.S. airlines quickly took similar action, and counterparts in Europe and Canada followed within hours, despite protests from the Israeli government. Israeli airline El Al maintained its regular flight schedule.

The airlines were out ahead of aviation regulators in stopping serv

Read more on Colorado Springs Gazette


]]> When U.S. and European airlines quickly canceled flights to Israel Tuesday, they showed both a skittishness and a new sense of urgency in dealing with global trouble spots following last week's downing of a passenger plane over Ukraine.

Delta Air Lines turned around one of its jets midflight and indefinitely canceled all future flights between the U.S. and Israel after a rocket fired from the Gaza Strip landed near Tel Aviv's Ben-Gurion Airport. Other U.S. airlines quickly took similar action, and counterparts in Europe and Canada followed within hours, despite protests from the Israeli government. Israeli airline El Al maintained its regular flight schedule.

The airlines were out ahead of aviation regulators in stopping serv]]> Tue, 22 Jul 2014 18:01:27 -0600 <![CDATA[Dan Borislow, magicJack inventor, dies at 52]]> http://gazette.com/dan-borislow-magicjack-inventor-dies-at-52/article/feed/139589?custom_click=rss http://gazette.com/dan-borislow-magicjack-inventor-dies-at-52/article/feed/139589?custom_click=rss

WEST PALM BEACH, Fla. (AP) — Dan Borislow, the inventor of magicJack and a pioneer in developing phone calls over the Internet, died Monday, officials at the company he founded said. He was 52.

A spokeswoman for MagicJack Vocaltec Ltd., said he died of a heart attack. In a statement, MagicJack CEO Gerald Vento praised Borislow as a visionary.

"Dan was a true telecom pioneer whose vision, creativity, energy, passion and single-minded focus was the driving force behind the success of magicJack," said Vento. "Our continued success is dedicated to extending his vision for the great company he created."

MagicJack, based in West Palm Beach and Netanya, Israel, became widely known through television commercials and infomerci

Read more on Colorado Springs Gazette


]]> WEST PALM BEACH, Fla. (AP) — Dan Borislow, the inventor of magicJack and a pioneer in developing phone calls over the Internet, died Monday, officials at the company he founded said. He was 52.

A spokeswoman for MagicJack Vocaltec Ltd., said he died of a heart attack. In a statement, MagicJack CEO Gerald Vento praised Borislow as a visionary.

"Dan was a true telecom pioneer whose vision, creativity, energy, passion and single-minded focus was the driving force behind the success of magicJack," said Vento. "Our continued success is dedicated to extending his vision for the great company he created."

MagicJack, based in West Palm Beach and Netanya, Israel, became widely known through television commercials and infomerci]]> Tue, 22 Jul 2014 18:01:09 -0600 <![CDATA[Winning calls by Levy forecasters over decades]]> http://gazette.com/winning-calls-by-levy-forecasters-over-decades/article/feed/139675?custom_click=rss http://gazette.com/winning-calls-by-levy-forecasters-over-decades/article/feed/139675?custom_click=rss It's a forecast so out of the mainstream, it's hard to believe: a U.S. economy in recession next year, triggered by steep downturns abroad. But its author, David Levy, 59, comes from a family of forecasters with a good record of bucking conventional wisdom.

A look at their calls through the decades:

Jerome Levy, grandfather: Anticipated the Great Crash of 1929, sold all his stock and liquidated his wholesale goods business.

Jay Levy, father: Accurately predicted a rapid U.S. economic expansion after World War II when many experts expected another depression.

Leon Levy, uncle: Co-founder of Oppenheimer mutual funds and hedge fund manager who bet against stocks before the dot-com crash in 2000.

David Levy: In

Read more on Colorado Springs Gazette


]]> It's a forecast so out of the mainstream, it's hard to believe: a U.S. economy in recession next year, triggered by steep downturns abroad. But its author, David Levy, 59, comes from a family of forecasters with a good record of bucking conventional wisdom.

A look at their calls through the decades:

Jerome Levy, grandfather: Anticipated the Great Crash of 1929, sold all his stock and liquidated his wholesale goods business.

Jay Levy, father: Accurately predicted a rapid U.S. economic expansion after World War II when many experts expected another depression.

Leon Levy, uncle: Co-founder of Oppenheimer mutual funds and hedge fund manager who bet against stocks before the dot-com crash in 2000.

David Levy: In ]]> Tue, 22 Jul 2014 18:01:00 -0600 <![CDATA[Contrarian's case: Why US could dip into recession]]> http://gazette.com/contrarians-case-why-us-could-dip-into-recession/article/feed/139548?custom_click=rss http://gazette.com/contrarians-case-why-us-could-dip-into-recession/article/feed/139548?custom_click=rss

NEW YORK (AP) — Just as the U.S. economy is strengthening, other countries are threatening to drag it down.

Employers in the U.S. are creating jobs at the fastest pace since the late 1990s and the economy finally looks ready to expand at a healthy rate. But sluggish growth in France, Italy, Russia, Brazil and China suggests that the old truism, "When the U.S. sneezes, the rest of the world catches a cold," may need to be flipped.

Maybe the rest of the world will sneeze this time, and the U.S. will get sick.

That's the view of David A. Levy, who oversees the Levy Forecast, a newsletter analyzing the economy that his family started in 1949 and one with an enviable record. Nearly a decade ago, the now 59-year-old economi

Read more on Colorado Springs Gazette


]]> NEW YORK (AP) — Just as the U.S. economy is strengthening, other countries are threatening to drag it down.

Employers in the U.S. are creating jobs at the fastest pace since the late 1990s and the economy finally looks ready to expand at a healthy rate. But sluggish growth in France, Italy, Russia, Brazil and China suggests that the old truism, "When the U.S. sneezes, the rest of the world catches a cold," may need to be flipped.

Maybe the rest of the world will sneeze this time, and the U.S. will get sick.

That's the view of David A. Levy, who oversees the Levy Forecast, a newsletter analyzing the economy that his family started in 1949 and one with an enviable record. Nearly a decade ago, the now 59-year-old economi]]> Tue, 22 Jul 2014 18:00:59 -0600 <![CDATA[Business Highlights]]> http://gazette.com/business-highlights/article/feed/234?custom_click=rss http://gazette.com/business-highlights/article/feed/234?custom_click=rss ___

Contrarian's case: Why US could dip into recession

NEW YORK (AP) — Just as the U.S. economy is strengthening, other countries are threatening to drag it down.

Employers in the U.S. are creating jobs at the fastest pace since the late 1990s and the economy finally looks ready to expand at a healthy rate. But sluggish growth in France, Italy, Russia, Brazil and China suggests that the old truism, "When the U.S. sneezes, the rest of the world catches a cold," may need to be flipped.

Maybe the rest of the world will sneeze this time, and the U.S. will get sick.

That's the view of David A. Levy, who oversees the Levy Forecast newsletter. Nearly a decade ago, Levy warned that U.S. housing was a bubble set to

Read more on Colorado Springs Gazette


]]> ___

Contrarian's case: Why US could dip into recession

NEW YORK (AP) — Just as the U.S. economy is strengthening, other countries are threatening to drag it down.

Employers in the U.S. are creating jobs at the fastest pace since the late 1990s and the economy finally looks ready to expand at a healthy rate. But sluggish growth in France, Italy, Russia, Brazil and China suggests that the old truism, "When the U.S. sneezes, the rest of the world catches a cold," may need to be flipped.

Maybe the rest of the world will sneeze this time, and the U.S. will get sick.

That's the view of David A. Levy, who oversees the Levy Forecast newsletter. Nearly a decade ago, Levy warned that U.S. housing was a bubble set to]]> Tue, 22 Jul 2014 18:00:56 -0600 <![CDATA[Microsoft 4Q earnings hurt by Nokia acquisition]]> http://gazette.com/microsoft-4q-earnings-hurt-by-nokia-acquisition/article/feed/139645?custom_click=rss http://gazette.com/microsoft-4q-earnings-hurt-by-nokia-acquisition/article/feed/139645?custom_click=rss

REDMOND, Wash. (AP) — Microsoft Corp. reported fourth-quarter earnings that took a hit from the Nokia devices business that it bought in April, but the company said growth in Internet-based computing services to businesses boosted results.

Net income in the three months through June 30 fell 7 percent to $4.61 billion, or 55 cents per share, from $4.97 billion, or 59 cents per share, a year ago.

Microsoft said the absorption of the Nokia unit cut 8 cents per share from earnings. It lost another net 3 cents on restructuring and tax-related items. Excluding those items, earnings hit 66 cents per share, beating the 60 cents expected by analysts polled by FactSet.

Revenue rose 18 percent to $23.4 billion, although $2 billi

Read more on Colorado Springs Gazette


]]> REDMOND, Wash. (AP) — Microsoft Corp. reported fourth-quarter earnings that took a hit from the Nokia devices business that it bought in April, but the company said growth in Internet-based computing services to businesses boosted results.

Net income in the three months through June 30 fell 7 percent to $4.61 billion, or 55 cents per share, from $4.97 billion, or 59 cents per share, a year ago.

Microsoft said the absorption of the Nokia unit cut 8 cents per share from earnings. It lost another net 3 cents on restructuring and tax-related items. Excluding those items, earnings hit 66 cents per share, beating the 60 cents expected by analysts polled by FactSet.

Revenue rose 18 percent to $23.4 billion, although $2 billi]]> Tue, 22 Jul 2014 17:46:17 -0600 <![CDATA[LinkedIn to buy ad tech company Bizo for $175M]]> http://gazette.com/linkedin-to-buy-ad-tech-company-bizo-for-175m/article/feed/139652?custom_click=rss http://gazette.com/linkedin-to-buy-ad-tech-company-bizo-for-175m/article/feed/139652?custom_click=rss NEW YORK (AP) — LinkedIn Corp. is spending $175 million to buy Bizo, a provider of advertising technology and measurement services aimed at professionals.

LinkedIn said Tuesday that it is paying 90 percent in cash and the rest in stock for San Francisco-based Bizo. The deal is expected to close in the third quarter. Founded in 2008, Bizo lets marketers target professionals with ads they want them to see, and helps measure the effectiveness of the ad campaigns.

LinkedIn, a professional networking service based in Mountain View, California, has more than 300 million users. The deal comes a day after Yahoo Inc. announced that it is buying Flurry Inc., which helps companies make mobile apps and design mobile ad campaigns.

Read more on Colorado Springs Gazette


]]> NEW YORK (AP) — LinkedIn Corp. is spending $175 million to buy Bizo, a provider of advertising technology and measurement services aimed at professionals.

LinkedIn said Tuesday that it is paying 90 percent in cash and the rest in stock for San Francisco-based Bizo. The deal is expected to close in the third quarter. Founded in 2008, Bizo lets marketers target professionals with ads they want them to see, and helps measure the effectiveness of the ad campaigns.

LinkedIn, a professional networking service based in Mountain View, California, has more than 300 million users. The deal comes a day after Yahoo Inc. announced that it is buying Flurry Inc., which helps companies make mobile apps and design mobile ad campaigns.]]> Tue, 22 Jul 2014 17:46:15 -0600 <![CDATA[Dueling rulings: Courts split on health law clash]]> Associated Press http://gazette.com/dueling-rulings-courts-split-on-health-law-clash/article/1534163?custom_click=rss http://gazette.com/dueling-rulings-courts-split-on-health-law-clash/article/1534163?custom_click=rss

WASHINGTON — President Barack Obama's health care law is snarled in another big legal battle, with two federal appeals courts issuing contradictory rulings on a key financing issue within hours of each other Tuesday.

But the split rulings don't necessarily mean another trip to the Supreme Court for the Affordable Care Act.

And White House spokesman Josh Earnest immediately announced that millions of consumers will keep getting financial aid for their premiums — billions of dollars in all — as the administration appeals the one adverse decision.



Read more on Colorado Springs Gazette


]]>
WASHINGTON — President Barack Obama's health care law is snarled in another big legal battle, with two federal appeals courts issuing contradictory rulings on a key financing issue within hours of each other Tuesday.

But the split rulings don't necessarily mean another trip to the Supreme Court for the Affordable Care Act.

And White House spokesman Josh Earnest immediately announced that millions of consumers will keep getting financial aid for their premiums — billions of dollars in all — as the administration appeals the one adverse decision.

]]>
Tue, 22 Jul 2014 14:55:45 -0600
<![CDATA[Walker elected president of Colorado Springs Executives Association]]> By name newspaper — http://gazette.com/walker-elected-president-of-colorado-springs-executives-association/article/1534172?custom_click=rss http://gazette.com/walker-elected-president-of-colorado-springs-executives-association/article/1534172?custom_click=rss Jariah Walker of Walker Asset Management Realty Inc. has been elected president of the Colorado Springs Executives Association and will serve a six-month term. Kelly Jackson of Greccio Housing was elected vice president, Bonnie Johnson of Colorado Springs Bike Shop was elected secretary and Mark Rohn of Rohn CPA Group was elected treasurer. Michael Greene of coloradosprings.com also was elected to the board. Dean Nelson of Expense Reduction Consulting serves as past president.

Read more on Colorado Springs Gazette


]]>
Jariah Walker of Walker Asset Management Realty Inc. has been elected president of the Colorado Springs Executives Association and will serve a six-month term. Kelly Jackson of Greccio Housing was elected vice president, Bonnie Johnson of Colorado Springs Bike Shop was elected secretary and Mark Rohn of Rohn CPA Group was elected treasurer. Michael Greene of coloradosprings.com also was elected to the board. Dean Nelson of Expense Reduction Consulting serves as past president.]]> Tue, 22 Jul 2014 12:15:02 -0600
<![CDATA[5 reasons Chipotle still has fans lining up for more]]> cbsnews.com http://gazette.com/5-reasons-chipotle-still-has-fans-lining-up-for-more/article/1534170?custom_click=rss http://gazette.com/5-reasons-chipotle-still-has-fans-lining-up-for-more/article/1534170?custom_click=rss

Chipotle Mexican Grill (CMG) blew the doors off of its second quarter Monday, and its shares took an after-the-bell leap to an all-time high near $650, double the price hit early last year.

Investors are high on the stock for many reasons. Chipotle took the rather stale concept of fast Mexican food and turned it into something new. It's got Taco Bell running back to its playbook, and it's got fans lining up for more. Read on for five ways Chipotle is killing it.

1) It raised prices and diners still came in droves. The company hiked prices this spring for the first time in three years, unable to keep up with rising costs for beef, cheese and avocados. The across-the-board increases generally were around 6 percent.

2)



Read more on Colorado Springs Gazette


]]>
Chipotle Mexican Grill (CMG) blew the doors off of its second quarter Monday, and its shares took an after-the-bell leap to an all-time high near $650, double the price hit early last year.

Investors are high on the stock for many reasons. Chipotle took the rather stale concept of fast Mexican food and turned it into something new. It's got Taco Bell running back to its playbook, and it's got fans lining up for more. Read on for five ways Chipotle is killing it.

1) It raised prices and diners still came in droves. The company hiked prices this spring for the first time in three years, unable to keep up with rising costs for beef, cheese and avocados. The across-the-board increases generally were around 6 percent.

2)

]]>
Tue, 22 Jul 2014 12:00:53 -0600
<![CDATA[Colorado Springs home inventory business expanding to California, East Coast]]> By Elise Schmelzer elise.schmelzer@gazette.com — http://gazette.com/colorado-springs-home-inventory-business-expanding-to-california-east-coast/article/1534159?custom_click=rss http://gazette.com/colorado-springs-home-inventory-business-expanding-to-california-east-coast/article/1534159?custom_click=rss

Sometimes, the best of business ideas spring from the worst of personal circumstances.

Carrie Mitchell didn’t lose anything in the 2012 Waldo Canyon fire, but she watched while others struggled to fill out insurance claims as they tried to remember what valuables they kept in that rarely opened nightstand drawer.

Since then, Mitchell has made it her business to help homeowners and business owners prepare for the worst by inventorying their possessions. Now, her Colorado Springs-based company, Together We Stand Home Inventory and Asset Management Group, plans to expand to California and the East Coast.

“My goal is that everybody has an inventory so nobody has to go through what I witnessed after Waldo,” she said.



Read more on Colorado Springs Gazette


]]>
Sometimes, the best of business ideas spring from the worst of personal circumstances.

Carrie Mitchell didn’t lose anything in the 2012 Waldo Canyon fire, but she watched while others struggled to fill out insurance claims as they tried to remember what valuables they kept in that rarely opened nightstand drawer.

Since then, Mitchell has made it her business to help homeowners and business owners prepare for the worst by inventorying their possessions. Now, her Colorado Springs-based company, Together We Stand Home Inventory and Asset Management Group, plans to expand to California and the East Coast.

“My goal is that everybody has an inventory so nobody has to go through what I witnessed after Waldo,” she said.

]]>
Tue, 22 Jul 2014 08:09:17 -0600
<![CDATA[Crocs cuts jobs, closes stores after earnings drop]]> Associated Press http://gazette.com/crocs-cuts-jobs-closes-stores-after-earnings-drop/article/1534156?custom_click=rss http://gazette.com/crocs-cuts-jobs-closes-stores-after-earnings-drop/article/1534156?custom_click=rss DENVER — Crocs Inc. has eliminated 183 jobs and plans to close or restructure up to 100 company-owned stores after a sharp decline in second-quarter profits.

The Denver Post reports (http://dpo.st/1jStzR6 ) the Niwot-based maker of resin-molded shoes made the majority of the job cuts Monday.

The company reported second-quarter operating income of $41.9 million — down 17 percent from the same period in 2013. Net income to shareholders fell more steeply, dropping 45 percent to $19.5 million compared to the second quarter of 2013.

Revenue increased 3.6 percent to $376.9 million.

Crocs president Andrew Rees says the earnings report shows "the need for dynamic change in our strategy, organization and



Read more on Colorado Springs Gazette


]]>
DENVER — Crocs Inc. has eliminated 183 jobs and plans to close or restructure up to 100 company-owned stores after a sharp decline in second-quarter profits.

The Denver Post reports (http://dpo.st/1jStzR6 ) the Niwot-based maker of resin-molded shoes made the majority of the job cuts Monday.

The company reported second-quarter operating income of $41.9 million — down 17 percent from the same period in 2013. Net income to shareholders fell more steeply, dropping 45 percent to $19.5 million compared to the second quarter of 2013.

Revenue increased 3.6 percent to $376.9 million.

Crocs president Andrew Rees says the earnings report shows "the need for dynamic change in our strategy, organization and

]]>
Tue, 22 Jul 2014 07:18:47 -0600
<![CDATA[Stocks slip to start the week]]> By MATTHEW CRAFT AP Business Writer http://gazette.com/stocks-slip-to-start-the-week/article/1534136?custom_click=rss http://gazette.com/stocks-slip-to-start-the-week/article/1534136?custom_click=rss

NEW YORK • The stock market started the week with a slight loss on Monday as investors weighed a mixed batch of corporate earnings against mounting political turmoil.

European leaders are considering tougher sanctions on Russia for its backing of separatists accused of shooting down a Malaysia Airways passenger plane in Ukraine last week. The European Union’s foreign ministers will meet Tuesday to discuss their next steps.

In Washington, President Barack Obama demanded that international investigators get full access to the crash site and said the separatists had blocked investigators.

“It looks like we hit a speed bump,” said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.

Read more on Colorado Springs Gazette


]]> NEW YORK • The stock market started the week with a slight loss on Monday as investors weighed a mixed batch of corporate earnings against mounting political turmoil.

European leaders are considering tougher sanctions on Russia for its backing of separatists accused of shooting down a Malaysia Airways passenger plane in Ukraine last week. The European Union’s foreign ministers will meet Tuesday to discuss their next steps.

In Washington, President Barack Obama demanded that international investigators get full access to the crash site and said the separatists had blocked investigators.

“It looks like we hit a speed bump,” said Jack Ablin, chief investment officer at BMO Private Bank in Chicago.]]> Mon, 21 Jul 2014 17:15:02 -0600 <![CDATA[US companies report rising sales, employment in 2Q]]> Associated Press http://gazette.com/us-companies-report-rising-sales-employment-in-2q/article/1534135?custom_click=rss http://gazette.com/us-companies-report-rising-sales-employment-in-2q/article/1534135?custom_click=rss

DETROIT — Rising sales helped boost hiring and wages at U.S. businesses in the second quarter, and companies are optimistic that the trends will continue this fall, according to a new survey by the National Association for Business Economics.

Fifty-seven percent of the 85 respondents to the quarterly survey said sales at their companies rose in the April-June period. That was up from 53 percent in the first quarter and 35 percent in the same period a year ago. Just 5 percent of firms said sales fell during the second quarter.

Respondents also said the outlook for the July-October period is strong. Fifty-nine percent of respondents said they expect sales to increase during the third quarter, and just 1 percent expects



Read more on Colorado Springs Gazette


]]>
DETROIT — Rising sales helped boost hiring and wages at U.S. businesses in the second quarter, and companies are optimistic that the trends will continue this fall, according to a new survey by the National Association for Business Economics.

Fifty-seven percent of the 85 respondents to the quarterly survey said sales at their companies rose in the April-June period. That was up from 53 percent in the first quarter and 35 percent in the same period a year ago. Just 5 percent of firms said sales fell during the second quarter.

Respondents also said the outlook for the July-October period is strong. Fifty-nine percent of respondents said they expect sales to increase during the third quarter, and just 1 percent expects

]]>
Mon, 21 Jul 2014 16:45:47 -0600
<![CDATA[Pipe dream: Front Range project gives Colorado an edge in natural gas liquids industry]]> by Katherine Blunt katherine.blunt@gazette.com - http://gazette.com/pipe-dream-front-range-project-gives-colorado-an-edge-in-natural-gas-liquids-industry/article/1534043?custom_click=rss http://gazette.com/pipe-dream-front-range-project-gives-colorado-an-edge-in-natural-gas-liquids-industry/article/1534043?custom_click=rss

The Front Range Pipeline that runs through eastern El Paso County has positioned Colorado to take advantage of the burgeoning market for natural gas liquids.

The pipeline, which began operating in February, is expected to become increasingly important as the state's production of natural gas liquids (NGLs) continues to grow. Last year, the Denver-Julesburg basin produced about 53,000 barrels of NGLs per day; by 2019, that number is expected to nearly double, according to research by Bentek Energy, a Denver-based energy analytics firm.

NGLs include ethane, propane, butane and natural gasoline.

Every day, the 435-mile pipeline transports about 80,000 barrels of NGLs from Weld County, which sits atop the Denver-Julesburg



Read more on Colorado Springs Gazette


]]>
The Front Range Pipeline that runs through eastern El Paso County has positioned Colorado to take advantage of the burgeoning market for natural gas liquids.

The pipeline, which began operating in February, is expected to become increasingly important as the state's production of natural gas liquids (NGLs) continues to grow. Last year, the Denver-Julesburg basin produced about 53,000 barrels of NGLs per day; by 2019, that number is expected to nearly double, according to research by Bentek Energy, a Denver-based energy analytics firm.

NGLs include ethane, propane, butane and natural gasoline.

Every day, the 435-mile pipeline transports about 80,000 barrels of NGLs from Weld County, which sits atop the Denver-Julesburg

]]>
Mon, 21 Jul 2014 16:07:49 -0600
<![CDATA[New hires, promotions & honors]]> By name newspaper — http://gazette.com/new-hires-promotions-honors/article/1534130?custom_click=rss http://gazette.com/new-hires-promotions-honors/article/1534130?custom_click=rss

Leslie Castle of Colorado Springs recently was promoted to Etcetera’s regional manager for the Pacific Northwest, including Colorado, Northern California, Washington, Oregon, Arizona, Utah, Hawaii and Alaska. Her responsibilities include developing these areas with area development managers and sales consultants. Castle has been with Etcetera for 14 years; Etcetera is a women’s designer line that is sold via sales consultants nationwide.

get More,

submit item

See Sunday’s Business section for more Movers & Shakers. To submit an item, go to the press release form at gazette.com/business.



Read more on Colorado Springs Gazette


]]>
Leslie Castle of Colorado Springs recently was promoted to Etcetera’s regional manager for the Pacific Northwest, including Colorado, Northern California, Washington, Oregon, Arizona, Utah, Hawaii and Alaska. Her responsibilities include developing these areas with area development managers and sales consultants. Castle has been with Etcetera for 14 years; Etcetera is a women’s designer line that is sold via sales consultants nationwide.

get More,

submit item

See Sunday’s Business section for more Movers & Shakers. To submit an item, go to the press release form at gazette.com/business.

]]>
Mon, 21 Jul 2014 16:06:36 -0600
<![CDATA[Obama gives protection to gay, transgender workers]]> Associated Press http://gazette.com/obama-gives-protection-to-gay-transgender-workers/article/1534107?custom_click=rss http://gazette.com/obama-gives-protection-to-gay-transgender-workers/article/1534107?custom_click=rss

WASHINGTON — President Barack Obama on Monday gave employment protection to gay and transgender workers in the federal government and its contracting agencies, after being convinced by advocates of what he called the "irrefutable rightness of your cause."

"America's federal contracts should not subsidize discrimination against the American people," Obama said at a signing ceremony from the White House East Room. He said it is unacceptable that being gay is still a firing offense in most places in the United States.

The fight over a gay discrimination ban for private employers has become embroiled in a dispute over whether religious groups should get an exemption.



Read more on Colorado Springs Gazette


]]>
WASHINGTON — President Barack Obama on Monday gave employment protection to gay and transgender workers in the federal government and its contracting agencies, after being convinced by advocates of what he called the "irrefutable rightness of your cause."

"America's federal contracts should not subsidize discrimination against the American people," Obama said at a signing ceremony from the White House East Room. He said it is unacceptable that being gay is still a firing offense in most places in the United States.

The fight over a gay discrimination ban for private employers has become embroiled in a dispute over whether religious groups should get an exemption.

]]>
Mon, 21 Jul 2014 10:14:40 -0600
<![CDATA[Thieves use 'digital pickpocketing' to skim credit card data from Colorado Springs customers]]> by LISA WALTON lisa.walton@gazette.com - http://gazette.com/thieves-use-digital-pickpocketing-to-skim-credit-card-data-from-colorado-springs-customers/article/1534079?custom_click=rss http://gazette.com/thieves-use-digital-pickpocketing-to-skim-credit-card-data-from-colorado-springs-customers/article/1534079?custom_click=rss

Credit card thieves are using a type of "digital pickpocketing" technology to steal credit card information from unsuspecting victims.

Technology has emerged in recent years that enables thieves to intercept credits card information with a simple swipe during a purchase. That information can be cloned to another card and used even as the original card remains securely inside its owner's purse or wallet.

This practice made national news last year when Target stores around the country were breached. Other retailers, such as Neiman Marcus, also fell victim to the thefts.

Those were large-scale heists that stole millions of dollars, but the problem has hit locally in a smaller way, too.



Read more on Colorado Springs Gazette


]]>
Credit card thieves are using a type of "digital pickpocketing" technology to steal credit card information from unsuspecting victims.

Technology has emerged in recent years that enables thieves to intercept credits card information with a simple swipe during a purchase. That information can be cloned to another card and used even as the original card remains securely inside its owner's purse or wallet.

This practice made national news last year when Target stores around the country were breached. Other retailers, such as Neiman Marcus, also fell victim to the thefts.

Those were large-scale heists that stole millions of dollars, but the problem has hit locally in a smaller way, too.

]]>
Mon, 21 Jul 2014 07:43:27 -0600
<![CDATA[Storms have cost Rocky Ford Growers more than a quarter of their cantaloupe crop]]> by matt steiner matt.steiner@gazette.com - http://gazette.com/storms-have-cost-rocky-ford-growers-more-than-a-quarter-of-their-cantaloupe-crop/article/1533995?custom_click=rss http://gazette.com/storms-have-cost-rocky-ford-growers-more-than-a-quarter-of-their-cantaloupe-crop/article/1533995?custom_click=rss

Melon lovers waiting to bite into juicy, ripe Rocky Ford cantaloupes won't have the abundant harvest this year.

Severe weather that struck the region east of Pueblo in late May and again this week pounded the 2014 crop with high winds, torrential rains and damaging hail.

The Rocky Ford Growers Association reported Friday that more than a quarter of the cantaloupe planted has been lost to the storms.

"It just made a mess," said Matt Proctor, a third-generation farmer who manages 500 acres in the Rocky Ford area.

Proctor lost his entire cantaloupe crop, pointing to a storm on May 23 that pummeled his melons with hail and brought 60 to 70 mph winds.



Read more on Colorado Springs Gazette


]]>
Melon lovers waiting to bite into juicy, ripe Rocky Ford cantaloupes won't have the abundant harvest this year.

Severe weather that struck the region east of Pueblo in late May and again this week pounded the 2014 crop with high winds, torrential rains and damaging hail.

The Rocky Ford Growers Association reported Friday that more than a quarter of the cantaloupe planted has been lost to the storms.

"It just made a mess," said Matt Proctor, a third-generation farmer who manages 500 acres in the Rocky Ford area.

Proctor lost his entire cantaloupe crop, pointing to a storm on May 23 that pummeled his melons with hail and brought 60 to 70 mph winds.

]]>
Fri, 18 Jul 2014 18:30:46 -0600
<![CDATA[Colorado Springs hotel occupancy surges to best June since 2002]]> by WAYNE HEILMAN wayneh@gazette.com - http://gazette.com/colorado-springs-hotel-occupancy-surges-to-best-june-since-2002/article/1534000?custom_click=rss http://gazette.com/colorado-springs-hotel-occupancy-surges-to-best-june-since-2002/article/1534000?custom_click=rss

A weeklong series of events connected with the Broadmoor Pikes Peak International Hill Climb, including a second motor race, helped attract more out-of-town competitors, providing a major boost to local hotels that lifted occupancy levels to the highest level for any June since 2002.

The June 29 hill climb attracted 140 drivers and their crews as well as 8,500 spectators and the June 27-28 Pikes Peak Air Strip Attack brought in another 180 drivers plus their crews and more than 3,000 spectators, many of whom stayed in local hotel rooms.

"The hill climb and the expanded week of events, including the Pikes Peak Air Strip Attack, really helped" fill rooms in June, said Chelsy Murphy, spokeswoman for the Colorado Springs

Read more on Colorado Springs Gazette


]]> A weeklong series of events connected with the Broadmoor Pikes Peak International Hill Climb, including a second motor race, helped attract more out-of-town competitors, providing a major boost to local hotels that lifted occupancy levels to the highest level for any June since 2002.

The June 29 hill climb attracted 140 drivers and their crews as well as 8,500 spectators and the June 27-28 Pikes Peak Air Strip Attack brought in another 180 drivers plus their crews and more than 3,000 spectators, many of whom stayed in local hotel rooms.

"The hill climb and the expanded week of events, including the Pikes Peak Air Strip Attack, really helped" fill rooms in June, said Chelsy Murphy, spokeswoman for the Colorado Springs]]> Fri, 18 Jul 2014 17:30:02 -0600 <![CDATA[Strong earnings push stocks higher third time in five days]]> By ALEX VEIGA AP Business Writer http://gazette.com/strong-earnings-push-stocks-higher-third-time-in-five-days/article/1533994?custom_click=rss http://gazette.com/strong-earnings-push-stocks-higher-third-time-in-five-days/article/1533994?custom_click=rss

Investors jumped on a wave of strong corporate financial results Friday, propelling stocks higher for the third time in five days.

The gains wiped out much of the market's losses from the day before, when the downing of a Malaysian Airlines passenger jet in eastern Ukraine stirred concerns that tensions between Russia and the West could escalate. Israel's launch of a ground offensive into Gaza also stoked geopolitical uncertainty.

Those worries appeared to ease Friday, as world leaders called for an immediate cease-fire in the region and international attention turned toward the task of determining what led to the aircraft being shot down. Investors turned their attention to the latest encouraging company earnings.



Read more on Colorado Springs Gazette


]]>
Investors jumped on a wave of strong corporate financial results Friday, propelling stocks higher for the third time in five days.

The gains wiped out much of the market's losses from the day before, when the downing of a Malaysian Airlines passenger jet in eastern Ukraine stirred concerns that tensions between Russia and the West could escalate. Israel's launch of a ground offensive into Gaza also stoked geopolitical uncertainty.

Those worries appeared to ease Friday, as world leaders called for an immediate cease-fire in the region and international attention turned toward the task of determining what led to the aircraft being shot down. Investors turned their attention to the latest encouraging company earnings.

]]>
Fri, 18 Jul 2014 17:27:13 -0600
<![CDATA[Prosecutor to monitor for-profit college chain]]> Associated Press http://gazette.com/prosecutor-to-monitor-for-profit-college-chain/article/1534002?custom_click=rss http://gazette.com/prosecutor-to-monitor-for-profit-college-chain/article/1534002?custom_click=rss

WASHINGTON — Former federal prosecutor Patrick Fitzgerald has agreed to serve as an independent monitor of a troubled for-profit education company serving 72,000 students that has agreed to sell or close its campuses, the Education Department said Friday.

Fitzgerald prosecuted high-profile cases against Lewis "Scooter" Libby, a top aide to Vice President Dick Cheney, and former Illinois Gov. Rod Blagojevich.

As part of an agreement with the Education Department, Corinthian Colleges, based in Santa Ana, California, has said it will close a dozen U.S. campuses in 11 states and place 85 up for sale. The company owns Everest College, Heald College and WyoTech schools. About a dozen others in Canada will also be sold.



Read more on Colorado Springs Gazette


]]>
WASHINGTON — Former federal prosecutor Patrick Fitzgerald has agreed to serve as an independent monitor of a troubled for-profit education company serving 72,000 students that has agreed to sell or close its campuses, the Education Department said Friday.

Fitzgerald prosecuted high-profile cases against Lewis "Scooter" Libby, a top aide to Vice President Dick Cheney, and former Illinois Gov. Rod Blagojevich.

As part of an agreement with the Education Department, Corinthian Colleges, based in Santa Ana, California, has said it will close a dozen U.S. campuses in 11 states and place 85 up for sale. The company owns Everest College, Heald College and WyoTech schools. About a dozen others in Canada will also be sold.

]]>
Fri, 18 Jul 2014 17:20:26 -0600