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'Likely the Worst We Shall Ever See' $1 HIGH-TECH PRINTING/ MARKETPLACE GRAPHICS Boulder Electric Vehicle Acquisition helps Colt puts charge into industry expand printing services 4A 13A Volume 32 Issue 21 | Sept. 27 - Oct. 10, 2013 Flood of 2013 COURTESY TED WOOD The Planet Bluegrass music venue on the west end of Lyons is overwhelmed Sept. 14 by floodwaters of the North St. Vrain River after days of relentless rainfall. Business- es in Lyons and much of Northern Colorado face the daunting task of rebuilding. ‘Likely the worst we shall ever see’ BY JOSHUA LINDENSTEIN ravaged Colorado days earlier. For a drought-stricken state that areas hit hardest. [email protected] In relaying the magnitude of dev- has seen hundreds lose homes to The latest preliminary estimates astation in his state, Hickenlooper wildfires in recent years, few would from the state indicate that more than BOULDER – Gov. John Hicken- pleaded, “September 2013 floods may have imagined that the slightest signs 16,000 homes were damaged and looper didn’t hold back in a Sept. 23 prove to be the worst natural disaster of rain could ever cause uneasiness in another 1,882 destroyed, although letter to Congress in which he asked in the history of our state, and is likely so many residents as they do now. But those numbers continue to rise. the United States’ legislative leaders the worst we shall ever see in our as Hickenlooper noted, widespread The Boulder County Office of to increase the amount of emergency lifetimes.” impacts of the flooding were unprec- Emergency Management’s early federal money available for the repair The people of Colorado can only edented in state history. assessments – covering unincorporat- of roads in the wake of flooding that hope. Boulder County was one of the ➤ See Flood, 10A PETER WAYNE COURTESY TED WOOD JOSHUA LINDENSTEIN BUSINESS REPORT FILES Record rains swell Boulder Creek. Debris piles up at Lyons businesses. Cleanup begins at Main Street Imports. Agencies help with flood recovery. Boulder makes do Lyons’ recovery may Longmont industrial Government offers amid the mud / 8A be months away / 6A area hit hard / 7A financial aid / 9A CONTENTS Serving Boulder & Broomfield Counties Awards .........................................23A Eye .................................................3A Boulder County’s Business Journal Bank Notes .................................. 15A For the Record .............................16A BCBRdaily ......................................2A Observations ................................26A Business Digest ...........................22A On the Job ...................................23A Calendar .......................................23A Nonprofit Network ........................22A Discoveries................................... 12A Product Update............................ 23A Editorial ........................................26A Real Estate ...................................24A LISTS Auto Dealerships ..........................21A Commercial Printers .................... 14A 2A | Sept. 27 - Oct. 10, 2013 Boulder County Business Report | www.bcbr.com Clovis Oncology reportedly evaluating sale Editor’s note: The following is a wrap- Walmart has Boulder flavor Boulder that will open sometime a researcher over technology used up of breaking local business stories BOULDER – A Walmart Neigh- in 2014, according to co-founder to diagnose cardiovascular disease. published daily on the Boulder County borhood Market opening in Boul- Jim Deters. To resolve the dispute, Broom- Business Report’s website. Sign up der is expected to feature a larger The business incubator will be field-based Corgenix (OTC: for our free BCBRdaily, an all local selection of gluten-free products housed on the fifth floor at 1035 CONX.OB) signed a new license e-news report sent to your email each than similar Walmart grocery Pearl St., Deters said. The incu- agreement with researcher Eiji Mat- weekday. Just click on “Register for stores when it opens on Wednes- bator is expected to include nine suura in Japan. The AtherOx car- E-Newsletters” at www.BCBR.com. day, Oct. 2. office suites in about 10,000 square diovascular technology has not yet About 65 people are being hired feet of space. Deters did not give a been cleared by the U.S. Food and BY BUSINESS REPORT STAFF to staff the 53,500-square-foot specific time frame for when the Drug Administration for sale in the [email protected] store (NYSE: WMT) at 2972 Iris new office might open. United States, according to a press Ave. in the Diagonal Plaza in Boul- Galvanize generates revenue statement. BOULDER – Cancer-drug der. The store will feature the glu- from rent on shared workspaces Matsuura will receive 7 percent research company Clovis Oncology ten-free section, an organic foods and through its “gSchool” – an edu- of future product sales as part of Inc. is a possible sale target, accord- section and a bulk foods section. cation program for startups. The the new license agreement, said Bill ing to an online report filed by company headquarters is at 1062 Critchfield, chief financial officer. Bloomberg News, quoting unnamed Delaware St. in the Rocky Moun- He has had a relationship with Cor- sources. DAILY tain Bank Note building in Den- genix since 2000. Boulder-based Clovis’ stock has BCBR ver. Galvanize offers work space, Under the new license, Corge- tripled in value this year. The compa- “Our nearby stores have offered including coffee, a workout area nix can develop, manufacture and ny is working with advisers, including a glimpse into what our customers and a café for prices starting at sell diagnostic tests related to the Credit Suisse AG in New York, to find who live in Boulder are looking for, $299 per month. technology everywhere around the a buyer, Bloomberg News reported, and we’ve done our best to further Galvanize’s Denver office is globe except Japan. In Japan, Cor- quoting sources. tailor the store to Boulder,” Ashley filled with startup companies and genix can develop and manufacture Clovis (Nasdaq: CLVS) reported DeKraai, a Walmart spokeswoman, has a waiting list. Its second Den- the diagnostic tests but can’t sell a net loss of $18.3 million in its most said in an email. ver location at 1644 Platte St. is them except under the direction of recent quarterly report ended Sept. Workers are stocking shelves at expected to open soon. Companies Matsuura, the press statement said. 30, 2013. the store. Community activities are interested in space in the Boul- Corgenix has several tests Clovis researchers are developing planned at the store for Oct. 5-6 in der location should look for more approved for commercial sale that several anti-cancer drugs, most in conjunction with the opening. details at: galvanize.it. are used to detect and diagnose partnership with national pharma- Posted Sept. 24. Posted Sept. 24. diseases. The company has about ceutical companies. Clovis raised 46 employees and projected annual $130 million in an initial public offer- Incubator to hire in Boulder Corgenix resolves dispute revenue of $11 million, Critchfield ing of 10 million shares in the fourth BOULDER – Denver startup BROOMFIELD – Diagnostic- said quarter of 2011. incubator Galvanize will hire up test maker Corgenix Medical Posted Sept. 11. Posted Sept. 17. to six people to staff an office in Corp. has resolved a dispute with ➤ See BCBRdaily, 15A Investing in the health of our community. Guaranty Bank and Trust helps Longmont United Hospital manage their day-to-day banking and expand their facilities to further support their overall mission. A Colorado bank for over 50 years, Guaranty Bank offers practical advice, personalized solutions and local decision making. We’re here to help you reach your financial goals. GuarantyBankCO.com 303.293.5500 | 970.454.4220 Dr. Fabio Pivetta, DO Erin Dobbs, BSN Longmont United Hospital 12GBT BCBR Ad_LongmontFO.indd 1 1/12/12 8:15 AM Boulder County Business Report | www.bcbr.com Sept. 27 - Oct. 10, 2013 | 3A Feds write off funds paid to Flatirons’ parent BY BETH POTTER rupt banks. [email protected] THE TARP WRITE-OFF TO FBHC CAME TO LIGHT The Capital Purchase Program was part of the Troubled Asset BOULDER — Federal officials this month after the Boulder County Business Report Relief Program, or TARP, which wrote off $2.385 million in TARP requested a list of Colorado banks that had received was created in 2008 to bail out funds made to FBHC Holding Co. big national banks following a sub- – parent company of Flatirons Bank TARP funds from the Office of the Special Inspector prime mortgage crisis that sent the – in 2011. national economy into a recession. A U.S. Treasury spokesman General for TARP. Officials from TARP loaned $3.035 characterized the write-off as a million to FBHC Holding Co. in “restructuring agreement.” In the 2009. agreement, Treasury officials agreed declining to be named. the spokesman said. He did not When contacted for comment, to sell Capital Purchase Program In return, Flatirons Bank agreed give further details, other than to Flatirons Bank President Kyle Heck- securities back to Flatirons Bank to raise a certain amount of capital say that functioning banks are more man said only that FBHC Holding at a discount, the spokesman said, and reduce certain indebtedness, valuable to the economy than bank- ➤ See Funds, 15A DVD touts Fresh fish Parkinson’s Boot Camp Olympic cyclist Davis Phinney has a new, free, exercise DVD for people with Parkinson’s disease. Boulderite Gary Sobol and his Parkinson’s Boot Camp are featured on the national video. Sobol has Par- kinson’s, as does Phinney. With the exercises, the former marathoner Sobol said he is back to hiking. He said he has seen firsthand how others with Parkinson’s improve when doing his exercises. The dis- ease’s most common symptoms are movement related; it’s a degenerative disorder of the central nervous system that shows up most commonly in people age 50 and older. BCBR EYE These days, as many as 75 folks show up at the Boulder YMCA on JONATHAN CASTNER Mondays, Wednesdays and Fridays to Sylvia Bernstein stands next to an aquaponics system that combines aquafarming — raising fish — with hydroponics — do exercises with Sobol.
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