Business Buzz: Economic Development Partnership board sets annual meeting
January 16, 2018
The Craig/Moffat Economic Development Partnership Board of Directors will host its annual meeting and regular board meeting from 4 to 6 p.m. Wednesday, Jan. 17, both in room 175 at Colorado Northwestern Community College, 2801 West Ninth St.
"The annual meeting includes member representatives electing board members, approving the budget and hearing updates on 2017 and goals for 2018," said CMEDP Executive Director Michelle Balleck. "We welcome community members to the meetings, as well, to learn about what we're working on. We have made great strides in 2017 and have lofty goals for 2018, and I am excited to share those."
For more information about CMEDP, call 970-620-4370 or email firstname.lastname@example.org.
Ski area owners announce company's new name
The joint venture of affiliates of KSL Capital Partners and Henry Crown and Company, which owns Steamboat Ski Area, has a new name — Alterra Mountain Company.
Headquartered in Denver, the newly named company is composed of 12 destinations and was created when affiliates of KSL Capital Partners, owners of Squaw Valley Alpine Meadows, and Henry Crown and Company, owners of Aspen Ski Co., purchased Intrawest, Mammoth Resorts and Deer Valley Resort in 2017.
The name “alterra,” a fusion of the words altitude and terrain/terra, pays homage to the mountains and communities that form the backbone of the company, Alterra officials said.
“Alterra Mountain Company is made up of unique mountain destinations, each with a personality and spirit that has delighted visitors for generations,” Alterra Mountain Company President and COO David Perry said in a news release. “We respect and continue to learn from the pioneers and leaders that built these iconic locations and paved the way before us, as we push the boundaries and innovate for our future.”
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Alterra Mountain Company owns ski areas in Steamboat and Winter Park in Colorado; Squaw Valley Alpine Meadows, Mammoth Mountain, June Mountain and Big Bear Mountain Resort in California; Stratton in Vermont; Snowshoe in West Virginia; Tremblant in Quebec, Blue Mountain in Ontario; Deer Valley in Utah; and CMH Heli-Skiing & Summer Adventures in British Columbia.
In the coming months, new season pass products will be announced.
CMEDP, Clarion Inn to host mixer on Thursday, Jan. 25
Craig/Moffat Economic Development Partnership and Clarion Inn & Suites will co-host a Craig Chamber of Commerce mixer from 5 to 7 p.m. Thursday, Jan. 25, at the hotel, 300 S. Colo. Highway 13.
The event is open to anyone interested. Appetizers and drinks will be served, and CMEDP will release its 2017 annual report.
RSVPs are requested to the Chamber at 970-824-5689.
For more information about the event, contact CMEDP at 970-620-4370 or email@example.com.
Investors advised to approach cryptocurrencies with caution
Cryptocurrencies continue to attract headlines, and the Colorado Division of Securities, part of the Department of Regulatory Agencies, reminds Colorado investors to be cautious about investments involving cryptocurrencies.
"Investors should go beyond the headlines and hype to understand the risks associated with investments in cryptocurrencies, as well as cryptocurrency futures contracts and other financial products where these virtual currencies are linked in some way to the underlying investment," said Colorado Securities Commissioner Gerald Rome.
Cryptocurrencies are a medium of exchange created and stored electronically in the blockchain, a distributed public database that keeps a permanent record of digital transactions. Current common cryptocurrencies include Bitcoin, Ethereum and Litecoin. Unlike traditional currency, these alternatives have no physical form and typically are not backed by tangible assets. They are not insured or controlled by a central bank or other governmental authority, cannot always be exchanged for other commodities and are subject to little or no regulation.
A survey of state and provincial securities regulators by the North American Securities Administrators Association, of which Colorado is a member, shows 94 percent believe there is a "high risk of fraud" involving cryptocurrencies. Regulators also were unanimous in their view that more regulation is needed for cryptocurrency to provide greater investor protection.
"The recent wild price fluctuations and speculation in cryptocurrency-related investments can easily tempt unsuspecting investors to rush into an investment they may not fully understand," Rome said. "Cryptocurrencies and investments tied to them are high-risk products with an unproven track record and high price volatility. Combined with a high risk of fraud, investing in cryptocurrencies is not for the faint of heart."
Last month, NASAA identified Initial Coin Offerings and cryptocurrency-related investment products as emerging investor threats for 2018. Unlike an Initial Public Offering, when a company sells stocks to raise capital, an ICO sells "tokens" to fund a project, usually related to the blockchain. The token likely has no value at the time of purchase. Some tokens constitute or may be exchangeable for a new cryptocurrency to be launched by the project, while others entitle investors to a discount, or early rights to a product or service proposed to be offered by the project.
Some common concerns investors should consider before investing in any offering containing cryptocurrency include the following.
• Cryptocurrency is subject to minimal regulatory oversight, susceptible to cybersecurity breaches or hacks, and there may be no recourse should the cryptocurrency disappear.
• Cryptocurrency accounts are not insured by the Federal Deposit Insurance Corporation, which insures bank deposits up to $250,000.
• The high volatility of cryptocurrency investments makes them unsuitable for most investors, especially those investing for long-term goals or retirement.
• Investors in cryptocurrency are highly reliant upon unregulated companies, including some that may lack appropriate internal controls and may be more susceptible to fraud and theft than regulated financial institutions.
• Investors will have to rely upon the strength of their own computer security systems, as well as security systems provided by third parties, to protect purchased cryptocurrencies from theft.
For more information, visit dora.colorado.gov or call 303-894-7855 or 800-886-7675.
Register for tax help from United Way
Moffat County United Way is offering free income tax assistance for people who earn less than $54,000 per year and have simple tax returns. Appointments are required for the service, and most take less than 30 minutes.
Northwest Colorado Center for Independence is offering transportation for individuals who need it. Help will be given from 4 to 7 p.m. Feb. 8 and from 8 a.m. to noon Feb. 9 in room 201 of the CNCC Bell Tower Building, 50 College Drive.
The services are free, but qualifying individuals must bring identification, Social Security numbers for family and financial statements — such as W-2, W-2G, 1099-R, 1099-MISC, bank statements, total paid for day care, health insurance statements — to the appointment. To learn more and make an appointment, call Moffat County United Way Community Impact Coordinator Kristen Vigil at 970-326-6222.
Deadline approaching for inclusion in Farm Fresh Publication
Published by the Colorado Department of Agriculture and presented by Kaiser Permanente, the Colorado Farm Fresh Directory promotes Colorado farmers’ markets, roadside stands, u-picks, community-supported agriculture producers, agritourism activities and farms and ranches that sell directly to the public.
The 2018 edition is being organized, and producers are encouraged to submit information for inclusion.
“Consumers love Farm Fresh, and they look forward to the new edition every year,” said Wendy White, marketing specialist at the Colorado Department of Agriculture. “It is a great publication to market local agricultural products.”
More than 100,000 copies of the publication will be distributed to consumers in June through libraries, extension offices, farmers’ markets, welcome centers, chambers of commerce, home milk delivery services and other businesses. In addition, Farm Fresh will be available as a mobile app for smartphones and online at coloradoagriculture.com.
The fee to be included in the directory is $25, and the listing deadline is Feb. 15. For more information or to request a listing form, contact Loretta Lopez at 303-869-9175 or visit coloradoagriculture.com.