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Denver Business Journal
Broncos, NFL sued by player over $532,500 in fines for cannabis
A high-profile challenge to employers’ ability to penalize an employee’s off-work consumption of marijuana is coming from an unlikely place — the football field.<\p> Pass rushing linebacker Randall Gregory this week filed a state district court lawsuit in Arapahoe County against the National Football League and the Denver Broncos Team LLC claiming $532,500 in league fines he paid for testing positive for THC while playing for the team violated the Colorado Anti-Discrimination Act.<\p>
Time for development around DIA to take off, region's officials say
Much of the land surrounding Denver International Airport remains vacant, and that looks like an opportunity to officials with the region's local governments and the airport itself. <\p> Thousands of acres are ready for business ventures that could bring the likes of advanced manufacturing, aerospace, agriculture, renewable energy and health care facilities to the area, they say.<\p>
Denver Health pursues tax increase to close funding gap
Denver residents could be asked to step in to help Denver Health's faltering finances.<\p> A Denver city council committee moved forward this week on a proposal from the state's only safety net hospital to seek a ballot measure in November that would increase the city's sales and use tax by 0.34%. The additional revenue, projected to be up to $70 million in the first year, would go toward supporting Denver Health in the services it provides to the community. <\p>
Meet the woman who led the design of a $300M development in Keystone
When Rebecca “Becky” Stone was an undergraduate studying architecture at Iowa State University in the early '90s, she spent her winter breaks working as a hostess at the Outpost Lodge — a mountaintop restaurant at the Keystone Ski Resort. One year, she couldn’t find worker housing and ended up living out of the restaurant’s coat room with her friend. <\p> “We always got first tracks, because we were already at the top of the mountain when they opened,” she joked. “I certainly wouldn’t do that today, but it was fun then.”<\p>
Inspirato avoids Nasdaq delisting with appeal, CEO explains path ahead
Inspirato has begun a months-long fight to keep its listing on the Nasdaq Stock Exchange, a process the Denver-based company's CEO called a "financial markets exercise" that will be largely separate from its efforts to boost future business.<\p> Inspirato, a travel company that rents out luxury vacation properties to subscribers, has been engaged with the Nasdaq for months due to its faltering market value. <\p>
National Western Center lands hotel project, developer partnership
The next development phase of the National Western Center includes plans for a hotel and equestrian center in Denver.<\p> The National Western Center (NWC) announced a predevelopment agreement Thursday with Community Activation Partners (CAP) to develop a hotel, parking garage and equestrian center.<\p>
Denver company raises $100 million to chase laser fusion energy
A Denver energy technology startup says it has raised $100 million it plans to use to create a prototype high-powered laser system to use in fusion energy generation.<\p> Xcimer Energy Inc. raised the money during its Series A financing round, the company announced this week. Backers included some high-profile names from technology and investing.<\p>
National mortgage company cutting 271 jobs in Denver suburb
A national mortgage loan originator business appears to be cutting hundreds of more positions at its Denver-area offices this summer, adding to the layoffs it previously announced last month.<\p> Newrez LLC is permanently letting go of 271 employees starting Aug. 2 from its offices in Greenwood Village, 6200 S. Quebec St., according to a notice provided to the Colorado Department of Labor and Employment.<\p>
The National Observer: Sign of reversal seen amid loan delinquencies
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals network of publications. Today we've got stories on a decline in asking prices in the housing market, a shift in consumer-spending habits and changes coming to Cracker Barrel restaurants. But first, we go inside the numbers on still-rising delinquencies among loans backed by commercial real estate.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
Ex-Broncos star's business loses $3M case, faces foreclosures
An athletic training company owned by former Denver Broncos receiver Brandon Marshall lost a $3.04 million judgment over a bank loan, and another one of his companies is facing a foreclosure lawsuit over a Florida fitness center.<\p> Marshall played 13 seasons in the NFL after being drafted by the Denver Broncos in 2006 and playing on the team until 2009. He later played for the Miami Dolphins, Chicago Bears, New York Jets, New York Giants, Seattle Seahawks and New Orleans Saints. <\p>
United Airlines adding thousands of jobs in Denver, nationally
United Airlines revealed this week that it plans to add thousands of jobs to its payroll nationwide this year and is hiring to fill 700 jobs in Denver.<\p> The airline's biggest recruiting effort will come in its hometown of Chicago, where United says it plans to hire 2,300 people.<\p>
Colorado rocket company launches its first astronaut mission
United Launch Alliance flew astronauts into orbit Wednesday, the first time the Colorado company's rockets have carried humans into space.<\p> The Centennial-based company’s Atlas V rocket sent a Boeing-built space capsule on its way to the International Space Station.<\p>
Kansas City-based competitor moves to buy Colorado business bank
A small community bank based in Westminster will soon have a new owner.<\p> Mountain View Bank of Commerce said Wednesday it has agreed to be acquired by Kansas City-based Academy Bank. <\p>
Landlords’ financials draw increased scrutiny from tenants
As billions are set to mature within commercial real estate-backed loans, tenants are putting extra scrutiny on prospective landlords' financial wherewithal before signing leases.<\p> And while a preference for the newest or most-updated office towers that offer a bevy of amenities remains prevalent among tenants, so too is the appeal of leasing space from a landlord with limited or even no debt on the building.<\p>
United Airlines exec: Customer anxiety drives the digital experience
Grant Milstead's role as a top tech leader for United Airlines has resulted in a few "ah-ha moments."<\p> A big one: "Every time you take a flight, you desperately want to get where you're going," said Milstead, the vice president of digital technology for United. <\p>
CommonSpirit Health names yet another market leader in Colorado
CommonSpirit Health is on a spring executive hiring spree. The health system on Tuesday announced yet another market president who will help to lead hospitals in Colorado.<\p> Since the system's former Colorado market president left in January, CommonSpirit has named a total of four people who will step into new leadership roles. Of those, three are concerned with hospitals in Colorado.<\p>
Denver neighbors sue company over 'noxious odors' from plant
St. Louis-based Nestlé Purina PetCare Co. is facing a federal lawsuit by two neighbors of its north Denver pet food manufacturing plant who say the facility releases "noxious odors."<\p> Robert Fields and Lorena Ortiz, who reside separately within 1 mile of the Purina plant at 4555 York St. in Denver, according to the suit, filed U.S. District Court of Colorado.<\p>
Colorado AG tackles font size in legal settlement with company
The Colorado Attorney General's Office on Monday zeroed in on a legally-required 24-point font size in its latest settlement with a Michigan company.<\p> The company, which offers to file documents with the secretary of state's office on a business' behalf, has garnered warnings from attorneys general in other states whichOregon and Hawaii, which warn that its advertisements are "deceptive and confusing" despite disclaimers.<\p>
How Colorado companies fared on the 2024 Fortune 500 list
Nine companies headquartered in Colorado appeared on the 2024 Fortune 500 list, including one newcomer.<\p> That’s one fewer than the number of Centennial State companies that appeared on the list last year, and many returning firms saw their rankings dip since 2023.<\p>
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