In the midst of soft national and local economies, businesses have socked away an unprecedented 7 percent of their assets in cash. While cash can help businesses that want to expand operations and hire more employees, uncertainty over government regulation continues to hamper expansion, said Steve Gunderson, Western Colorado region president of U.S. Bank. It’s […]
Over the past year, Grand Junction has experienced the largest proportional decrease in average apartment vacancy rates among five metropolitan areas of Colorado. According to the latest results of a quarterly survey conducted for the Colorado Division of Housing, the average apartment vacancy rate in Grand Junction fell to 6.3 percent during the first quarter […]
As chief economist for Wells Fargo, John Silvia ranks among the top forecasters in the United States. But he said his job is only getting more difficult as the country experiences what he considers a different kind of recovery. “The character of this recovery is very, very different than anything we’ve seen before,” Silvia said […]
Wells Fargo plans to close a mortgage processing center in Grand Junction, a move that will affect 55 employees. Cristie Drumm, a spokeswoman for Wells Fargo, told the Business Times the center will close over the next 60 days as mortgage application processing is transferred to other centers around the country. “This is a very […]
A monthly index tracking economic conditions for small businesses in Colorado has dipped for the first time in 18 months, but continues to forecast growth in the months ahead. “In the future, a more impressive U.S. economy should set the stage for stronger Colorado economic growth,” said Jeff Thredgold, a corporate economist who calculates the […]
Technological advances have quickly and dramatically changed the way energy companies produce natural gas in Western Colorado. Companies not only drill far more wells at a single location, but also extend those wells thousands of feet horizontally and in different directions. Production processes once conducted in succession now occur simultaneously so that as one well […]
A monthly measure of optimism among small business owners has declined for a second straight month, an indication uncertainty persists in the small business sector over the strength of economic recovery. The National Federation of Independent Business (NFIB) reported that its Small Business Optimism Index retreated seventh-tenths to 91.2 in April. The index lost 2.6 […]
Business owners and managers responding to a chamber survey are more upbeat about the Grand Valley economy, including their expectations for sales and hiring. But most don’t expect a recovery to begin until next year. “It’s cautious optimism,” said Diane Schwenke, president and chief executive officer of the Grand Junction Area Chamber of Commerce. “It’s […]
A monthly index tracking labor trends posted its largest drop in two years, a signal job growth could slow. The Conference Board reported that its Employment Trends Index (ETI) fell six-tenths of a percent to 100.5 in April, the largest monthly decline since April 2009. Still, the index remains up 6 percent from a year […]
Despite continued growth in U.S. payrolls, the unemployment rate rose in April for the first time in five months. According to the latest Department of Labor estimates, nonfarm payrolls grew 244,000. Moreover, initial estimates for job gains in March and February were revised upward 46,000 to a total of 456,000. Nonetheless, the jobless rate edged […]