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Albuquerque Business First
St. John's president retires
After close to a decade at the helm of St. John’s College, Mark Roosevelt retired on June 30 as president.<\p> Roosevelt, who often describes his work at St. John's as “scaffolding,” started at the college in 2016. As the first college-wide president, with oversight of the Santa Fe and Annapolis, Maryland, institutions, Roosevelt tackled communication between the campuses. <\p>
Roswell Inn owner talks wildfire response
Summers are typically a busy time for D Bhakta and his Roswell Inn. The Southeast New Mexico city, well-known for its alien history, welcomes scores of tourists between May and August — either those passing through on their way to other sites in the state, or those staying for events like the annual Roswell UFO Festival, scheduled for July 5 through July 7 this year.<\p> Bhakta, who's owned the Roswell Inn for two decades, said this summer has been no different. In fact, he said his Inn had a traveling baseball team staying in some of its 40 total rooms when the Village of Ruidoso called for residents to evacuate from a pair of rapidly encroaching wildfires. <\p>
KidsStrong expands to Northeast Heights
A science-based children's development program is opening a second location in Albuquerque after the successful launch of its first center on Coors Boulevard in October 2023. <\p> KidStrong's newest facility, located at 8001 Wyoming Blvd. NE, spans 3,200 square feet and will open on July 22. Visionworks was the previous tenant. The local franchisees are Bobby Montoya and his wife, Jessica, who are both Albuquerque natives.<\p>
Do you know these New Mexicans? You should.
From growing successful businesses to promoting everything the state has to offer, these individuals truly embody the spirit that is New Mexico. <\p> Every week, Albuquerque Business First features a business leader who we believe is, well, worth knowing. We talk to them about both their personal and professional lives. Maybe they are a prominent person in the community or a behind-the-scenes go-getter. Whatever their background or role, they all share a passion for New Mexico and a desire to improve their slice of the enchanted pie.<\p>
Supreme Court decision marks 'seismic shift' on federal rules
Federal agency rules that target businesses and the workplace have been dealt a blow by the latest Supreme Court decision.<\p> The case, Loper Bright Enterprises v. Secretary of Commerce, was specifically focused on fees in a rule by the National Marine Fisheries Service, but ultimately targeted the four-decade framework for federal agency rulemaking known as Chevron — named after a previous Supreme Court case. <\p>
ABQ data firm's oil, gas tracking work earns federal award
A four-month partnership between a state department and an Albuquerque data company has resulted in national award recognition.<\p> The New Mexico Taxation and Revenue Department (TRD) announced June 11 it was awarded the Innovation and Excellence in Tax Administration Award by the Federation of Tax Administrators. <\p>
Netflix unveils ABQ expansion
On June 27, Netflix unveiled its expanded Albuquerque studios, a sprawling 108-acre facility in Mesa del Sol designed to boost the company’s production capabilities.<\p> Located at 5650 University Blvd. SE, the expanded facility includes four new soundstages ranging from 18,000 to 20,000 square feet, three mills, one production office and two stage support buildings, all developed by contractors Dekker Perich Sabatini (DPS) and New York-based J.T. Magen, Netflix Co-CEO Ted Sarandos said. <\p>
Lawmakers push for nonstop flights from Sunport to D.C.
The Albuquerque International Sunport, currently, doesn't have any nonstop flights between it and the two Washington, D.C.-area airports, Ronald Reagan Washington National Airport and Washington Dulles International Airport. New Mexico federal legislators hope to see that change. <\p> Members of New Mexico's Congressional delegation sent a letter to U.S. Department of Transportation Secretary Pete Buttigieg Monday, calling on the Department to prioritize Albuquerque and other underserved markets when establishing new flights in and out of the two Washington-area airports.<\p>
Lowe's, Metallica lend support to San Juan College
In an unlikely pairing, Lowe’s and heavy-metal band Metallica have come together to create a $500,000 pool to split between several community colleges, including one in New Mexico.<\p> San Juan Community College in Farmington will receive $100,000 to help students in the automotive technologies and construction programs, according to a Monday news release. The focus, according to the release, will be to provide lower-income students with money for wraparound services like tools, gas and books. The funds were made available via the Lowe's Foundation in partnership with Metallica's All Within My Hands foundation. <\p>
Many managers are posting fake jobs. One reason may surprise you.
Employers are turning to fake job listings as a means of boosting staff morale in the current unsettled hiring market, but those ghost postings could have consequences. <\p> That’s according to a recent Resume Builder survey, which found 40% of 649 hiring managers surveyed have posted a fake job listing in the past year. Three in 10 responded they have an active fake-job posting. <\p>
T or C Pride Market highlights LGBTQIA artists
Parades and other celebratory events are frequently the most tangible representations of Pride Month, but they’re often reserved for bigger cities.<\p> However, the small town of Truth or Consequences bucked that trend throughout June with its community events that included a brunch with live music, river float and discount soaks in its famous hot springs.<\p>
$2.4M awarded in JTIP funds
A month after breaking a record for the amount of funding awarded to companies in the state, New Mexico's Job Training Incentive Program, or JTIP, doled out awards to nine companies in June, totaling up to $2.4 million.<\p> New Mexico Economic Development Department Acting Cabinet Secretary Mark Roper said Wednesday three of the nine June awardees received JTIP support for the first time. The program assists companies in hiring and training employees in the state through reimbursements of 50% or more for hiring or training expenditures.<\p>
Houston firm to invest $250M in NM
A Houston-based telecommunications company said it plans to invest upwards of $250 million to build out a fiber internet network in New Mexico, starting in Albuquerque this year and potentially expanding into other parts of the state, as the firm's first expansion outside Texas. <\p> Ezee Fiber's CEO Matt Marino announced the company's New Mexico expansion plans Wednesday. Engineering and construction work on the 100% fiber-to-the-premises network is underway in Albuquerque, and Ezee expects customer installations to start in September. <\p>
County manager named for Bernalillo County
On June 25, the Bernalillo County Board of Commissioners approved the appointment of a new county manager, concluding a competitive and closely watched hiring process. <\p> Cindy Chavez, a county supervisor from San Jose, California, will officially assume her role once contractual negotiations and a background investigation are completed, Kristen Ferguson, communications specialist at Bernalillo County, said in an email statement. <\p>
Visa, Mastercard 'swipe' fee settlement dealt a big blow
A nearly $30 billion settlement involving U.S. retailers and credit card giants Visa Inc. and Mastercard Inc. has been dealt a blow after a judge said it was unlikely she would approve the deal.<\p> During a June 13 hearing on preliminary approval of the proposed settlement involving “swipe” fees, U.S. District Judge for the Eastern District of New York Margo Brodie said she was unlikely to sign off on the deal. Brodie issued a written order on the case on June 25, and while the order itself was sealed, the accompanying memorandum on the court docket stated that the "court finds that it is not likely to grant final approval to the Settlement and accordingly denies Plaintiffs' motion for preliminary settlement approval."<\p>
Kathie Winograd to leave Economic Forum
Kathie Winograd, who's led the Economic Forum of Albuquerque for two and a half years, will leave that role at the end of this year, the Forum's board chair said Wednesday. <\p> Winograd was named executive director of Albuquerque's Economic Forum, a membership-based organization for business leaders in the Albuquerque-Rio Rancho area, in November 2021, for a term that started in January 2022. She took over Forum leadership after serving as Central New Mexico Community College (CNM) president for over a decade, from 2007 to 2020. <\p>
Papa Felipe's sold
A longstanding Mexican restaurant in Albuquerque's Northeast Heights has found new ownership. <\p> Papa Felipe's, located at 9800 Menaul Blvd. NE, sold for just under $2 million to a local restaurateur in late May, John Algermissen, senior advisor at NAI SunVista, said. The home-style Mexican and New Mexican restaurant was established in 1982.<\p>
‘Lock-in effect’ restricts homeowners despite inventory improvements
A U.S. housing market that continues to see home-price appreciation, paired with higher-for-longer mortgage rates, may prolong the lock-in effect that's stymied inventory the past couple of years.<\p> Many housing economists predicted 2024 would see more relief for homebuyers by way of greater inventory and households more willing to sell their homes after being tethered to record-low mortgage rates obtained during the Covid-19 pandemic.<\p>
Energy economist says global oil market depends on NM
A regional economist said at an energy conference in Southeast New Mexico Tuesday historic levels of U.S. oil production are expected to level off in the coming years, as "concentrated" global commodities markets present challenges for continued electrification targets. <\p> Garrett Golding, a senior business economist at the Federal Reserve Bank of Dallas, which covers the Permian Basin including Eddy and Lea counties in New Mexico, spoke at the EnergyPlex Conference in Hobbs on Tuesday.<\p>
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