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Denver Business Journal
Meet DBJ's 2024 Lifetime Achievement Award winner
Every year, the Denver Business Journal honors women who are getting business done and helping their communities thrive.<\p> Earlier this week, we revealed the 26 winners of this year’s Outstanding Women in Business Awards.<\p>
Another brewery, dog park set to open in RiNo
Denver’s River North Art District is gaining traction among dog lovers and their four-legged friends, and will soon be home to two dog bar and park concepts. <\p> Skiptown, a North Carolina-based dog park, bar and boarding center, is slated to open its first Colorado location in RiNo at 3833 Steele St., Unit #1332, in York Street Yards in late summer.<\p>
IRS announces when payments on ERC claims will resume
The Internal Revenue Service plans to deny tens of thousands of improper Employee Retention Credit applications even as it promises to renew processing legitimate claims.<\p> The agency in an announcement this week said it had taken the time since its Sept. 14 moratorium on processing new ERC applications to analyze the more than 1 million ERC claims filed in 2023 — and found that between 60% and 70% showed an unacceptable level of risk.<\p>
Meet the winners of the DBJ's 2024 Leaders in Diversity awards
Diversity, equity and inclusion are not just features of a strong workplace and healthy culture — they play an important role in maintaining a workplace’s competitive advantage. <\p> In this time of rapid social change and uncertainty, it is more important than ever to recognize businesses and leaders who are effectively promoting authentic DEI in the workplace. <\p>
Wells Fargo cutting jobs in downtown Denver
Wells Fargo will lay off or reassign dozens of workers in downtown Denver in the coming weeks because it will no longer do certain back-office functions there.<\p> The San Francisco-based banking giant informed Colorado officials this week that about 80 Wells Fargo employees would be let go starting Aug. 1 or given the chance to relocate or find other jobs within the company.<\p>
Federal judge blocks new Colorado banking law
A federal judge has temporarily stopped Colorado from enacting a portion of a banking law capping interest rates that was set to take effect July 1.<\p> The state law, passed last year, prohibits chartered out-of-state banks from charging interest rates higher than 36%, which is the state's voter-approved rate cap.<\p>
What's next in the NAR commission lawsuit settlement?
Some big deadlines are on the horizon for the class-action lawsuits that swept the residential real estate industry over the past year. <\p> The conclusion of these lawsuits could bring about significant changes to how homes are bought and sold beginning in the later part of 2024.<\p>
Denver restaurant groups raise $166M
Two Denver restaurant groups recently raised equity capital to fund their next ventures, including expansions and an acquisition. <\p> Gastamo Group, the brand behind Birdcall, Homegrown Tap & Dough and others, and The One Group, owners of STK Steakhouse and Kona Grill, raised a collective $166 million last month. <\p>
Less than 10% of office stock in major metros considered 'prime' space
Less than 10% of the office space across some of the nation's major metropolitan markets is considered "prime" real estate, the type of property today's tenants prefer.<\p> A recent analysis by CBRE Group Inc. (NYSE: CBRE), the findings of which were shared first with The Business Journals, found 830 buildings across 57 cities analyzed could be categorized as "prime" properties, representing 8% of all office square footage in those markets. Although the definition of "prime" can vary by market, sometimes dramatically, the analysis set out to identify the highest-quality buildings in each city and examine how that segment of the market is performing relative to the broader office sector.<\p>
The next host of Sundance Film Festival could be this metro-area city
Boulder could be the next city to host one of the world's largest independent film festivals. <\p> Colorado leaders on Thursday revealed the state will enter the competition to host the prestigious Sundance Film Festival starting in 2027. <\p>
Colorado firm wins $2.3B satellite contract
Just before launching the nation’s most sophisticated weather satellite for the U.S. government, a Colorado-based space company has landed a $2.3 billion contract to do it again.<\p> Lockheed Martin Space, based in Jefferson County, on Tuesday was chosen to design and build the next generation of federal government satellites watching for storms, extreme weather and environmental hazards over the Western Hemisphere.<\p>
How Colorado tech leaders want the state's AI law changed
Leaders in Colorado's technology industry say state policymakers are off to a promising start in their vow to curtail a first-in-the-nation law that regulates artificial intelligence.<\p> But for investors like Dan Caruso, the law's existence could still be a threat. <\p>
Revealed: DBJ's 2024 Outstanding Women in Business winners, Part 2
Monday, the Denver Business Journal revealed 13 winners of our 2024 Outstanding Women in Business awards.<\p> The program is designed to celebrate the women in the Denver metro who are making business happen. It began 25 years ago, and it is still going strong.<\p>
Owners change plans for future of El Chapultepec
Three months after announcing plans to tear down the historic jazz club El Chapultepec, the building's owners have changed their tune.<\p> Monfort Companies submitted a new project design Tuesday that heeds the voices of preservationists, including Historic Denver, who argue the city's history is tied to the longtime downtown music venue.<\p>
Barnes & Noble CEO explains Tattered Cover deal
It’s the end of an era for Denver’s Tattered Cover, a bookseller that has been independently owned and operated for more than 53 years.<\p> Barnes & Noble, the largest U.S. book retailer, plans to buy the Tattered Cover bookstores out of bankruptcy from their current owners for $1.83 million, according to court documents. The deal still needs to be finalized in bankruptcy court, which is expected to occur by July 31.<\p>
Denver tech company reports growth after IPO
Ibotta (NYSE: IBTA) recently released financial information to the public for the first time, indicating notable growth among national retailers and consumers for its digital cash-back rewards. <\p> The Denver-based tech company reported first-quarter revenue of $82.3 million — a 43% increase year over year. <\p>
Local biotech wins $55M to enhance 'library of life'
A Boulder company that uses artificial intelligence to learn about naturally occurring molecules and create new medicines has attracted millions of dollars more from investors.<\p> Enveda Biosciences closed a $55 million Series B2 financing round June 14 with participation from new investors such as Microsoft and The Nature Conservancy, the company said in a news release.<\p>
Major landlords targeted by class-action lawsuits over pricing
Several major apartment landlords from across the country are under fire over rental rates — allegations that have spawned a wave of class-action lawsuits and garnered the attention of state and federal authorities. <\p> The lawsuits have high-stakes for the apartment market and beyond, with potential to shape how pricing software could be utilized in multiple industries. <\p>
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