Recovery Spurs Cities' Spending Surge
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THE LISTS CREDIT UNIONS | MORTGAGE LENDERS | CLEAN-TECH COMPANIES | ENERGY EVALUATION FIRMS | RECYCLING COMPANIES BANKING Mobile deposits: Fad or not?, 9 RETAIL Longmont releases $10.3 ml for Village at the Peaks, 3 FLOOD Anglers, shops worry over St. Vrain’s trout decline, 3 THE BUSINESS JOURNAL OF THE BOULDER VALLEY AND NORTHERN COLORADO VOLUME 33 | ISSUE 19 | OCT. 3 - 16, 2014 Recovery spurs cities’ spending surge BY YUCHEN WU lion, or 11 percent, over last year. budget cuts, 25 cities are loosen- from $29 million in 2008 to $43 [email protected] The surge in spending is true ing the purse strings this year, with million in 2013, according to the across the board, from larger cities some seeing budgets that are more city’s budget documents. This year Municipalities across the Boul- such as Louisville, Longmont and than 50 percent higher than in it is spending about $64.5 million, der Valley and Northern Colorado, Loveland to small towns such as 2008. up from $59.5 million in 2013. thanks in large part to the economic Wellington, according to an analysis Louisville has increased its “In part due to the floods of last recovery, are spending roughly $2.1 by BizWest. expenditures dramatically since September, the city has been work- billion in 2014, up about $200 mil- After years of recession-driven the recession, up almost 50 percent ➤ See Spending, 39 Tweet or tweak, then send Twitter map new lobbying tool for bankers BY DOUG STORUM [email protected] Most U.S. Senate and House members use Twitter as a way to engage with constituents. Not to be left out, the American Bankers Association has created an online KNOWING THE DRILL map-based Twitter platform that allows bankers across the nation to KEEPING FOCUS CLOSE TO HOME FUELS SYNERGY shoot prewritten tweets about the JONATHAN CASTNER/FOR BIZWEST industry’s burning issues to those Synergy Resources Corp. has managed to keep its drilling costs well below industry averages by keeping a lid on overhead. politicos. Online: www.aba.com/advocacy/ BY STEVE LYNN producer, headquartered in unincor- equity analyst for Wunderlich Securi- grassroots/pages/Twitter-map.aspx? [email protected] porated Weld County near Platte- ties. Haas has rated the stock a “buy” ville, have risen 30 percent this year. with a $16 price target. The stock By hovering over a state on the PLATTEVILLE – Synergy George Seward, the company’s direc- traded around $12 earlier this month. map, bankers can choose a member Resources Corp. revenues have more tor, made a large open-market insider Synergy has ridden an oil boom of Congress and tweet a prewritten than doubled and the company is purchase of nearly $520,000 in shares that set a statewide record of 64.1 message, or tweak that tweet, stay- continuing to gain steam with its last month. million barrels last year and has ing within 140 characters. homegrown approach to drilling “The fact that he is buying stock at shown no sign of abating. Companies The hope is to make it easy for that has won admirers locally and on this particular level is a really bullish operating in Weld County produced Twitter-friendly bankers to flood Wall Street. signal,” said Irene Haas, Houston- 80 percent of the state’s oil. Synergy lawmakers’ Twitter accounts urg- Shares of the oil and natural-gas based managing director and E&P ➤ See Synergy, 37 ➤ See Twitter, 18 CONTENTS Briefcase .............................28 Public companies Local stock report .................................................................2 Business News Digest ..........8 Editorial ...............................38 Energy For the Record ....................31 Advanced Energy: optimism despite turbulence ...............5 Nonprofit Network...............29 Insurance On the Job ..........................26 Health premiums spike in NoCo .........................................7 The Eye .................................3 Time Out .............................30 BizWest is an independent, locally owned business journal. 2 | Oct. 3-16, 2014 BizWest | www.bizwest.com Rally Software trending down; Pilgrim’s Pride up 89.3 percent Stocks of Local Interest 52-WK RANGE CLOSE YTD 1YR 52-WK RANGE CLOSE YTD 1YR NAME TICKER LO HI LAST* WK MO QTR %CHG %RTN P/E DIV YLD NAME TICKER LO HI LAST* WK MO QTR %CHG %RTN P/E DIV YLD ARCA biopharma Inc ABIO 1.18 1 2.54 1.24 st t -26.2 -15.7 dd ... ... IBM IBM 172.19 7 199.21 189.64 tt s +1.1 +2.1 12 4.40 2.3 Advanced Energy Ind AEIS 16.00 3 29.15 19.15 st t -16.3 +7.2 12 ... ... 9 Anadarko Petrol APC 73.60 8 113.51 104.25 st t+31.4 +11.0 dd 1.08 1.0 Level 3 Commun LVLT 25.76 49.22 45.97 ss s+38.6 +68.0 71 ... ... Array BioPharma ARRY 3.39 2 6.66 3.79 tt t -24.4 -35.8 dd ... ... Noble Energy Inc NBL 60.14 6 79.63 69.89 rt t +2.6 +4.8 32 0.72 1.0 Avago Technologies AVGO 41.83 0 90.88 87.11 ts s+64.7 +109.7 37 1.28f 1.5 Ball Corp BLL 44.29 9 66.53 64.19 ss s+24.3 +40.5 18 0.52 .8 Noodles & Co NDLS 17.15 1 49.75 19.54 st t -45.6 -57.7 56 ... ... Boulder Brands Inc BDBD 11.01 4 18.46 13.60 ss t -14.3 -19.6 cc ... ... 0 Clovis Oncology Inc CLVS 35.33 3 93.33 48.08 ss s -20.2 -30.9 dd ... ... Pilgrims Pride PPC 13.76 32.50 30.76 ss s+89.3 +79.9 13 ... ... Crocs Inc CROX 11.96 2 16.88 12.75 st t -19.9 -8.2 dd ... ... Rally Software RALY 8.40 2 31.08 12.32 ss s -36.7 -61.9 dd ... ... DigitalGlobe Inc DGI 26.02 2 43.13 28.74 tt s -30.2 -9.9 cc ... ... 2 Dynamic Matls BOOM 18.12 24.00 19.10 st t -12.1 -17.3 31 0.16 .8 Synergy Resources Cp SYRG 8.11 9 14.11 12.97 st t+40.1 +33.1 52 ... ... EnCana Corp ECA 16.97 6 24.83 21.59 st t+19.6 +23.7 15 0.28 1.3 Gaiam Inc GAIA 4.99 5 8.76 6.62 tt t ... +36.5 dd ... ... UQM Technologies UQM 1.18 2 3.45 1.51 st t -29.4 -22.3 dd ... ... GlobeImmune Inc GBIM 8.10 1 15.00 7.33 tt t -33.7 ... ... ... Vail Resorts MTN 64.47 9 89.99 85.66 rs s+13.9 +26.0 cc 1.66 1.9 Google Inc C GOOG 502.80 8 604.83 576.36 ts s +3.2 ... 20 ... ... 0 Hain Celestial Grp HAIN 72.34 103.97 102.24 ss s+12.6 +32.0 37 ... ... WhiteWave Foods Co WWAV 18.28 9 38.12 35.36 ts s+54.1 +75.7 55 ... ... Halliburton HAL 47.46 7 74.33 65.61 tt t+29.3 +36.5 21 0.60 .9 Heska Corp HSKA 5.50 9 14.58 12.98 tt s+48.9 +120.0 30 ... ... Woodward Inc WWD 38.80 6 55.76 48.57 tt t +6.5 +18.0 20 0.32 .7 *Prices as of Monday. Dividend Footnotes: a - Extra dividends were paid, but are not included. b - Annual rate plus stock. c - Liquidating dividend. e - Amount declared or paid in last 12 months. f - Current annual rate, which was increased by most recent dividend announcement. i - Sum of dividends paid after stock split, no regular rate. j - Sum of dividends paid this year. Most recent dividend was omitted or deferred. k - Declared or paid this year, a cumulative issue with dividends in arrears. m - Current annual rate, which was decreased by most recent div- idend announcement. p - Initial dividend, annual rate not known, yield not shown. r - Declared or paid in preceding 12 months plus stock dividend. t - Paid in stock, approximate cash value on ex-distribution date. PE Footnotes: q - Stock is a closed-end fund - no P/E ratio shown. cc - P/E exceeds 99. dd - Loss in last 12 months. Source: The Associated Press. MarketMarketPulse Pulse PERFECT 10 FLYING THE COOP HOME BIAS Most companies will close the books on their third quarter this upcoming week, When it comes to the Federal Reserve, members are Emerging-market stocks get a lot of attention, but they’re not finding much of a and Wall Street is expecting widespread gains. Analysts are forecasting either a hawk or a dove. At least, that’s what they are to home in investors’ portfolios. U.S. investors keep just 3 percent of their stock earnings growth for all 10 sectors that make up the Standard & Poor’s 500 economists. If a Fed member puts more emphasis on portfolios in emerging markets, according to State Street Global Advisors, index. If the predictions prove true, it will be the first time that’s happened in keeping inflation low than boosting the economy, citing data from the International Monetary Fund. For context, stocks from three years. Last quarter, economists call that a hawk.wk. TheThe oppositeopposite China, India and other emerging markets make up 13 percent of the MSCI Top S&P 500 sectors for est. 3Q EPS growth the index came close to a is a dove. The two most hawkishawkish ACWI, a widely tracked index of global stocks. perfect 10. Only the Telecom 14.8% members on the Fed’s Some skittishness is understandable.