Author: Wayne Heilman Special to the Gazette
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Laid-off Chefs Catalog employees will receive severance, can apply for other Target jobs
Chefs Catalog employees who will lose their jobs when the upscale cooking equipment direct marketer shuts down will receive an unspecified severance package and can apply for open positions at Chefs’ parent company, Target Corp., and its retail stores, a company spokeswoman said Monday. Target confirmed Friday that it will shut down Chefs early next…
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Colorado Springs auto market remains in neutral in October
The Colorado Springs auto market stayed in neutral in October even as new vehicle registrations hit the highest level in nearly two years, according to a report from the El Paso County Clerk and Recorder’s Office. Registrations for October totaled 2,489, the highest since January, but up just seven vehicles, or 0.3 percent, from October…
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FDIC releases Park State Bank & Trust of Woodland Park from recession restrictions
Park State Bank & Trust of Woodland Park in September became the one of the last Colorado Springs area banks to be released from federal orders imposed during the last recession that restricted lending, prohibited paying dividends to owners and required management to reduce problem loans. The action, announced Friday along with other enforcement actions…
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160 jobs lost with Chefs Catalog shutdown in Colorado Springs
Target Corp. notified employees Friday that by early next year the retail giant will shut down its Chefs Catalog unit in Colorado Springs and a related online business, which employ 160 people locally and another 20 in California. Financial results from Chefs and cooking.com, a related website, didn’t meet Target’s expectations and the two businesses…
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First of several hangars in Colorado Springs Airport commercial zone completed
Rampart Aviation LLC’s $2.5 million hangar at the Colorado Springs Airport is the first of several hangar construction projects to be completed that are expected to create more than 2,000 jobs over the next several years as a result of a series of tax breaks enacted last year by local officials. The 19,750-square-foot hangar serves…
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Gold Resource cuts gold and silver production forecasts
Gold Resource Corp. Monday cut its gold and silver production forecasts as a result of deposits mined coming in at lower grades than projected and water in the mine diluting more deposits than expected, both during the third quarter. The Colorado Springs-based company, which operates a gold mine in southern Mexico and leases a mining…
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Economist: U.S. recession unlikely until early 2019
Consumers and businesses won’t have to grapple with another recession until 2019 and a major downturn is unlikely for at least another 15 years, a Manchester, N.H.-based economist said Friday in Colorado Springs. A weakening dollar, an economic recovery in Europe and stronger growth late next year in China will trigger better economic conditions nationwide…
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Larkspur company develops a better fake wall
Clark and Noel Maxam’s Emagispace is anything but an overnight success. Noel Maxam, a longtime television soap opera producer in Los Angeles, came up with the idea for temporary walls used in theatrical, television and movie productions while he was a student at Carnegie Mellon University and built his first prototype in 1989. “I had…
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Colorado Springs defense contractor wins $36 million in contracts
Intelligent Software Solutions Inc. has received 12 contracts totaling $36 million that will trigger hiring of an additional 20 employees. The Colorado Springs-based defense contractor is providing enterprise reporting and analytics services and software for the military and allies, including sophisticated data management, visualization, event analysis, pattern detection, command and contract, mission planning, and mobile…
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Colorado Springs glassmaker gets attention on Martha Stewart contest site
A class project nine years ago has graduated to a full-fledged business with eight employees and thousands of customers – and Wine Punts LLC has attracted national attention from domestic icon Martha Stewart. Joe Saliba came up with the idea of turning the bottom half of wine bottles into drinking glasses as a class assignment…