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San Juan - FRI. 04/10/20 A Free Business Publication from Alpine Bank Print Version Print View Online Webpage
Personal | Business | Mortgage | Wealth Management
 
WEEKEND
 
 
 

FRIDAY

  • Good Friday

SATURDAY

  • Please consider donating to the Montrose Emergency Relief Fund, montrosecf.org, 970-249-3900

SUNDAY

  • Easter Sunday
 
COLORADO LAWMAKERS RETURN TO FACE BUDGET WOES
 
 
 

The Colorado legislature is scheduled, tentatively, to return into session on May 18, and at that time the Joint Budget Committee will face a major difficulty in writing a budget for the 2021 fiscal year, a $3 billion shortfall in revenue as the economic impact of the coronavirus pandemic. The Colorado Constitution requires the legislature to pass a balanced state budget. The governor had proposed a $34.5 billion budget for FY 21, which begins on July 1, but it now appears that the proposed budget will have to be cut by about 10 percent. However, the state is expected to receive close to $2 billion in federal stimulus money, but it is unknown how much flexibility there will be for the state to spend that money.

 
- Denver Post, 04.10.20
 
ALL ACTIVITIES ON CLEAR CREEK BANNED BY JEFFCO, GOLDEN
 
 
 

The Jefferson County Sheriff's Office and Golden Police Department have ordered a suspension of all activities on Clear Creek in the county and city of Golden. The order is in effect until further notice and covers recreational activities such as rafting, kayaking and canoeing. Swimming and body surfing also are prohibited. The suspension was imposed because of the difficulty for people to abide by the six-foot social distancing guideline when on the water and to eliminate the potential for law enforcement and fire departments to provide emergency services when their resources are already challenged due to COVID-19.

 
- Denver Post, 04.10.20
 
STOCKS RACK UP BEST WEEK IN 45 YEARS
 
 
 

U.S. stocks continued soaring upward Thursday, posting their biggest weekly gains since 1974. The New York Stock Exchange is closed today for Good Friday. The S&P 500 Thursday added 39.84 points, or 1.4 percent, to closed at 2789.82 and gained 12 percent for the week, capping off its biggest week of gains in decades. The Dow Jones Industrial Average jumped 285.80 points, or 1.2 percent, to 23719.37 and rose 13 percent for the week, while the Nasdaq Composite advanced 62.67 points, or 0.8 percent, to 8153.58 and added 11 percent for the week. The remarkable rise came despite a very gloomy report on unemployment Thursday.

 
- Wall Street Journal, 04.10.20
 
ASPEN COUNCIL APPROVES $6 MILLION IN RELIEF AID
 
 
 

The Aspen City Council Thursday made a historic move by approving, on first reading, the allocation of $6 million for an emergency relief and stimulus package for residents from Aspen to Parachute, as well as workers and area businesses. The council made the allocation by using funds from the city's housing development fund, the Kids' First child care fund and the general fund. The emergency fund will provide assistance for people in securing shelter, food, utilities, health care, child care and transportation.

 
- Aspen Times, 04.10.20
 
PITKIN COUNTY HEALTH DEPT. TO GET 1,000 ANTIBODY TESTS
 
 
 

The Pitkin County Public Health Department has obtained 1,000 COVID-19 antibody tests, which are expected to determine whether the infection is in a person’s body or has been. Once the tests are validated for accuracy and criteria is established by the public health department’s medical team of whom should be tested, the tests will be given to community members for free. It is estimated that the tests should be available sometime next week.

 
- Aspen Times, 04.10.20
 
PITKIN, EAGLE COUNTIES PLACE FIRE BAN IN PLACE TO PROTECT FIREFIGHTERS
 
 
 

The Pitkin County Sheriff and the Eagle County Sheriff Thursday placed a Stage 1 fire ban in place in Pitkin and Eagle counties in concert with the regional fire ban imposed by the U.S. Forest Service. The fire bans are more a result of the impact of the COVID-19 state of emergency than actual fire conditions being present. The sheriffs are attempting to avoid the firefighters gathering in large numbers, as would be the case with a wild fire and the fire departments cannot afford to have their ranks decreased at a time when the demand for services is increasing.

 
- Aspen Times, 04.10.20
 
BLM GIVES APPROVAL TO UNCOMPAHGRE MANAGEMENT PLAN
 
 
 

Jamie Connell, Colorado State Director of the U.S. Bureau of Land Management, last week signed off on approval of the controversial resource management plan for the Uncompahgre Field Office of the BLM. The plan governs oil and gas leasing, recreation, livestock grazing and other types of land uses on some 676,000 acres of BLM surface lands and nearly 1 million acres of federal mineral estate in parts of Montrose, Delta, Gunnison, Ouray, San Miguel and Mesa counties. The plan is available at: https://go.usa.gov/xnpgD.

 
- GJ Daily Sentinel, 04.10.20
 
GOING TO CHURCH AT THE DRIVE-IN
 
 
 

With churches across the state working on systems to televise Easter services or find other ways to deliver services because of the limitations on public gatherings, two churches in Delta are going to provide Easter services in your car…at the Tru Vu Drive-In. At 7 a.m. Sunday, the First Baptist Church in Delta will offer a Resurrection Sunrise Worship Service and Rivers Church in Delta will use the drive-in for its 10 a.m. Sunday service. The service will be aired over FM radio to the cars in the drive-in. All attendees must remain in their cars and there will be one empty space between each car.

 
- GJ Daily Sentinel, 04.10.20
 
SAN MIGUEL REVERSES SUSPENSION: COVID TESTING BACK ON
 
 
 

On Tuesday, San Miguel County announced it was temporarily shutting down the countywide free COVID-19 testing because the lab of United Biomedical Inc. could not process the tests. On Thursday, San Miguel County reversed it position and now is ready to resume testing in the county. In its statement Thursday, the county said it "apologizes for any confusion it created."

 
- Colorado Sun, 04.09.20
 
LOOKING AT MAJOR LEAGUE BASEBALL
 
 
 

The average MLB team value last year was $1.85 billion, up 4 percent from 2018. The New York Yankees had the highest value at $5.0 billion, followed by the Los Angeles Dodgers: $3.4 billion; and the Boston Red Sox: $3.4 billion. MLB will suffer from a reduced schedule this year due to the coronavirus pandemic. Last year, MLB had a total revenue of $10.5 billion. The sources of revenue 2019:

  • Gate receipts: $3.2 billion
  • National media: $3.1 billion
  • Local media: 2.1 billion
  • Sponsorships: $1.1 billion
  • Other stadium revenues: $925 million
 
- Forbes.com, 04.09.20
 
ALPINE BANK UPDATE
 
 
 

In a continued effort to keep our communities, employees and their families safe and healthy, Alpine Bank is closed on Saturdays until further notice. We invite you to use AlpineOnline banking and the AlpineMobile app for 24/7 banking access. Customer Service and Internet Banking support representatives are available Saturday from 8:30 a.m. to 12:30 p.m. by calling 800-551-6098. For up-to-date information about your local branch hours of operation and alternative in-person banking options, visit the link below.

 
- Alpine Bank
 
 
 
MARKET UPDATE - 04/09/2020 Close
 
(Courtesy of Alpine Bank Wealth Management*)
 
 
Close
Change
Dow Jones Industrials
 
23719.37
 
+285.80
 
S&P 500
 
2789.82
 
+39.84
 
NASDAQ
 
8153.58
 
+62.67
 
10-year Treasury yield
 
0.58
 
-0.04
 
Gold (CME)
 
1736.20
 
+70.80
 
Silver (CME)
 
15.99
 
+0.84
 
Oil (NY Merc)
 
22.76
 
-2.33
 
Natural Gas ($/MMBtu)
 
1.73
 
-0.05
 
Cattle (CME)
 
94.00
 
+1.18
 
Prime Rate
 
3.25
 
NC
 
Euro (per U.S. dollar)
 
0.91
 
-0.01
 
Canadian dollar (per U.S. dollar)
 
1.39
 
-0.01
 
Mexican peso (per U.S. dollar)
 
23.53
 
-0.51
 
30-year fixed mortgage rate (Freddie Mac 04/09/2020)
 
3.33
 
NC
 
*Not FDIC insured. May lose value. Not guaranteed by the bank.
 
 
 
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Alpine Bank is an employee-owned Colorado company chartered in 1973. With 40 locations across Colorado, Alpine Bank offers a full suite of banking services.
24-hour Alpine Info-Line - 1.888.4.ALPINE (1.888.425.7463)
 
 
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  checklist Roaring Fork (Aspen, Snowmass, Basalt, El Jebel, Willits, Carbondale, Glenwood Springs, New Castle, Rifle, Battlement Mesa)
  checklist San Juan (Delta, Montrose, Ridgway, Ouray, Telluride)
  checklist Steamboat Springs (Routt County)
  checklist Summit County (Dillon, Breckenridge, Frisco, Copper Mountain)

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