Business News

Springs housing starts up over last June

RICH LADEN

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Good news on the local housing front has been about as hard to find as a Broadmoor mansion built with just a two-car garage. But after months of tough times, the Colorado Springs area saw some encouraging signs on home construction and foreclosures in... Full story

June numbers offer some hope for U.S. auto market

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DETROIT — After a yearlong free fall in the American car market, the decline of sales slowed in June, offering hope to automakers that the bottom has been reached and more shoppers may slowly start returning to showrooms soon. Still, sales... Full story

Springs-area home building activity jumps in June

RICH LADEN

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Finally, some encouraging news for the local home-construction industry: Single-family building permits in Colorado Springs and El Paso County totaled 146 in June, a 50.5 percent jump compared with the same month a year ago. It's the first... Full story

Springs businessman chosen to head Center for Nonprofit Excellence

DEBBIE KELLEY

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Local businessman David P. Somers has been hired as executive director of Colorado Springs' Center for Nonprofit Excellence. Somers' energy and enthusiasm set him apart from 24 other candidates, said Lynne Telford, who had the job for four years before... Full story

Downtown businesses play musical chairs

BILL RADFORD

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The downtown shuffle continues. Recently, Runners Roost moved around the corner from 107 E. Bijou St. to 121 N. Tejon St. Meanwhile, Mt. Tejon moved across the street and up the block, from 104 N. Tejon St. to 1251/2 N. Tejon. Now two more businesses... Full story

One of three Wachovia branches to close

Wells Fargo will merge the other two

WAYNE HEILMAN

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Wells Fargo Bank said Tuesday it will close one of Wachovia Bank's three Colorado Springs branches and incorporate the other two into its own branch network when it merges Wachovia's operations into the bank in November. The closure of Wachovia's branch... Full story

Job losses sap consumer confidence

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NEW YORK — Mounting job losses and other economic realities caught up with Americans in June, pushing down a key barometer of consumer sentiment after a streak of gains built on glimmers of hope. Some economists say the reality check offered... Full story

Unemployment benefits computer system back in action

ANDREW WINEKE

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The Colorado Unemployment Insurance program's online computer system was back in action today, but not before frustrating thousands of unemployed workers in the state for several days. The online system for continuing unemployment claims and new claims... Full story

Home prices post 18.1 percent annual drop in April

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NEW YORK • There is a clear trend home prices declines are moderating - another sign the beleaguered housing market is stabilizing, according to data released today.While the Standard & Poor's/Case-Shiller index of 20 major cities tumbled... Full story

Bernard Madoff gets maximum sentence of 150 years in prison

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NEW YORK - Historic swindler Bernard Madoff was sentenced to 150 years in prison today for a fraud so extensive that the judge said he needed to send a symbolic message to potential imitators and to victims who demanded harsh punishment. Scattered applause... Full story

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