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Denver Business Journal
Colorado leaders vow to limit new AI law
Just one month after Colorado Gov. Jared Polis signed a bill into law that regulates artificial intelligence, he and other state leaders vow to change it.<\p> Polis, Colorado Attorney General Phil Weiser and State Senate Majority Leader Robert Rodriguez sent an open letter on Thursday addressed to consumers and industry players impacted by the new law, which tackles instances of discrimination by AI.<\p>
How corporate money helped Denver Pride evolve
Five decades ago, roughly 50 people marched down Denver’s Colfax Avenue in protest of the June 1969 police raid of the Stonewall Inn, a gay bar in New York City's Greenwich Village.<\p> It was the start of an annual tradition that continues to grow year-after-year. These days, hundreds of thousands of people pour into Denver’s streets for the annual Pride celebration, ushering in millions of dollars in economic development for the city each year.<\p>
Alamo Drafthouse bought by industry giant
After a rough couple of years, a Texas-based chain of movie theaters with locations in Colorado has a new owner.<\p> Alamo Drafthouse Cinema LLC has been bought by Sony Pictures Entertainment Inc., according to a June 12 announcement. Alamo Drafthouse will keep its CEO, Michael Kustermann, and headquarters in Austin and will be managed by Sony's newly established division called Sony Pictures Experiences.<\p>
Ex-CU athletic director lists Boulder estate
A former University of Colorado athletic director put his 23-acre Boulder County estate back on the market this month for $6.925 million. <\p> The estate features a 6,793-square-foot ranch-style home, a 4,000-square-foot indoor gymnasium, a horse barn and acres of fenced pastures. <\p>
Soaring Denver homebuying costs outpacing rent, CBRE finds
Homeownership is becoming increasingly inaccessible for many would-be-buyers in Denver as the rise in mortgage expense outpaces rent increases, a national study finds.<\p> Mortgage payments cost the average Denverite $3,692 monthly while the median rent was $1,891 monthly during the first quarter of 2024, according to an analysis published this quarter by real estate giant CBRE. <\p>
Frontier Airlines expands service at 9 airports
Denver-based Frontier Airlines will add more nonstop flights at nine U.S. airports starting in August and will charge as little as $19 during an introductory promotion.<\p> The new flights will depart from airports in Atlanta, Boston, New York City, Las Vegas, Los Angeles, Dallas, San Diego, Sacramento and Charlotte, North Carolina, the airline said in a news release Thursday. <\p>
Major office development opens in Denver's RiNo (Photos)
After two years of construction, a new Class AA office building has opened in Denver’s River North Art District. <\p> Paradigm River North, 3400 Walnut St., is an eight-story, 200,000-square-foot office building that project designers say attempts to blend the area’s industrial history with a sophisticated office aesthetic. <\p>
This neighborhood might be Denver’s next general improvement district
Denver might soon be home to another general improvement district, one that helps fund public safety and other services in the unofficial Ballpark Neighborhood District encompassing the Coors Field baseball stadium. <\p> The Ballpark GID, if approved by the Denver city council and voters within the district in November, would be the fifth general improvement district in Denver. It would provide additional services to nearby businesses and residents including trash and recycling; dedicated police patrols and 24-hour security; homeless outreach and navigation; and maintenance and improvement projects.<\p>
Most Americans still struggle to get away from work while on vacation
Most Americans struggle to get away from work while on vacation, even as some progress is being seen in restoring work-life balance.<\p> About 59% of the 2,000 Americans surveyed by communications firm Movchan Agency said they struggled to switch off during their downtime and 63% said they felt anxious if they didn’t check work emails while away. Overall, 54% said they worked while on vacation, although that's a lower share than previous years. <\p>
Changes remake part of Denver developer's project in Seattle
A restaurant, a coffee house, a corner market and a bike shop have closed at a Denver developer's project remaking a whole block of Seattle's Pioneer Square neighborhood.<\p> The four businesses opened on the ground floor of 115 S. Jackson St. starting in November 2022. They were part of a full-block development known as RailSpur from Denver-based Urban Villages meant to help revitalize the historic neighborhood with new retail, a hotel, housing and office space.<\p>
Exec 'bullish' on bank's Colorado growth after $2B merger
Paul Williamson is pretty calm for a banking executive about to lead employees through the largest deal of his company's history. <\p> Williamson, president of regional banking for Kansas City-based UMB Financial Corp., acknowledges that he will have his hands full in the months ahead. UMB in late April announced its plans to merge with Denver-based Heartland Financial USA Inc. in a deal valued at $2 billion.<\p>
The Playbook: The common pay threads for high-performing companies
Editor's Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business and career. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> During a time when more workers expect transparency around pay, most top-performing companies are proving to be forthcoming — but that's not the only common thread. <\p>
Italian pizzeria opens first US location in Denver
Denver’s Central Park neighborhood is home to a new pizza restaurant. <\p> Rosso Pomodoro, an Italian pizzeria, has opened its first U.S. stand-alone location in Denver at 7505 E. 29th Place. The restaurant is currently serving the public and will celebrate its grand opening on June 20. <\p>
Owners of Tattered Cover bookstores halt sale auction
In a last minute decision the current owners of Denver-based Tattered Cover bookstores, halted their planned auction of the business under bankruptcy protection. <\p> The proceedings were scheduled for Wednesday morning but were called off hours before they were scheduled to take place amid negotiations with potential buyers.<\p>
Denver leaders seek to create museum at historic site downtown
Denver leaders seek to add a museum at Civic Center Park with the goal of attracting more people to downtown and establishing a more vibrant sense of place for the area.<\p> The city on Wednesday announced its intent to create museum space in part of the McNichols Building, on the north side of the park opposite the Denver Art Museum. <\p>
NAR settlement threw a wrench into VA loans but a fix is coming
The class-action lawsuits that rocked the residential real estate industry over the past year have resulted in nearly $1 billion in settlements so far — and also put in place changes that could have hurt veterans’ ability to shop for homes.<\p> The National Association of Realtors and big brokers such as RE/MAX Holdings Inc., Anywhere Real Estate Inc. and Keller Williams Realty Inc. agreed to prohibit mandatory so-called “cooperation agreements,” in which sellers pay both the selling agent and the buyers agent commission for a sale, in exchange for being allowed to list a home on a multiple listing service.<\p>
Denver metro-area health agencies agree to merge
Boulder-born Mental Health Partners said Tuesday it plans to merge with a local health center in an bid to create a combined entity that is financially stronger and more sustainable. <\p> Together with Lafayette-based Clinica Family Health, the organizations said they hope to offer more comprehensive care to underserved populations. They also hope to achieve more opportunities to diversify their revenue and better position themselves for future changes in the health care industry. <\p>
Denver power utility gets green light for $440M 'clean heat' plan
Colorado utility regulators approved a plan that will help the state’s largest power utility reduce its greenhouse gas emissions and meet state-mandated climate goals.<\p> The Colorado Public Utilities Commission approved Xcel Energy-Colorado’s clean heat plan June 10, which includes spending up to $440 million in energy efficiency and electrification investments over the next three years and could translate into nearly 725,000 tons in emissions reductions annually. <\p>
Colorado-based home shopping giant faces Nasdaq delisting
Qurate Retail Inc., the Douglas County-based e-commerce and home shopping spinoff of Liberty Media, is being warned by the Nasdaq Stock Market the business risks being delisted due to a low stock price. <\p> The notice this week is the second time in a little over a year that Qurate Retail received a warning from the stock exchange. <\p>
WeWork emerges from bankruptcy, appoints new CEO
After filing for bankruptcy protection in November, New York-based WeWork Inc. said Tuesday it has emerged from Chapter 11 and completed its operational and financial restructuring.<\p> The coworking giant's new era will include a new board of directors and a new chief executive. John Santora will become WeWork's new CEO, effective Wednesday. Santora joins WeWork from commercial real estate firm Cushman & Wakefield PLC (NYSE: CWK), where he most recently served as the firm’s Tri-State chairman.<\p>
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