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July 2014 Issue

Cover Story

CEO of the Year: The Broadmoor’s Steve Bartolin

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By Becky Hurley Photography by Jeff Nelson "It was 1991. I had just been offered the job as president of The Broadmoor by Mr. (Ed) Gaylord Sr., chairman of the Oklahoma Publishing Co. and the hotel’s new owner. I was almost afraid to take it. There hadn’t been much capital invested in the property in the past decade or so. I knew it needed a lot of work. In fact, a month after I took the job, we learned the hotel was in jeopardy of losing its five-star rating. Taking it over was going to be a tremendous challenge." – Steve Bartolin, CEO and president, The Broadmoor

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Articles

Colorado cool stuff: Design bags, Ritual chocolate, whiskey rocks, Ubooly

By Eric Peterson

MARUCA DESIGN BAGS Maruca Design has been designing and sewing handbags from American-woven Jaquard fabric since Rex Maruca started the company in 1992. Maruca’s background in the upholstery business led to a Jaquard sample bag. A customer liked his bag, one thing led to another, and 20 years later Maruca has released two colorful collections a year – more than 200 different designs made from some 600 fabrics in all. Designers come up with colorful fabric patterns in-studio in Boulder and a network of local home-based seamstresses sews the bags. Annual revenue is about $2 million, and the nine-employee company usually sees 15 percent growth a year. "We have fans who are fabric nuts, like we are," says Angela Schuster, sales and marketing manager, describing. . .

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The Economist: Can the Fed do anything to save our economy?

By Tucker Hart Adams

It’s been almost two years since I’ve written about the Federal Reserve, quantitative easing and all of that fascinating stuff. (I know, I know, but remember that monetary theory was one of my fields of specialization in graduate school.) It is time to address that topic once more, now that the Fed has announced it will continue to purchase securities and keep short-term interest rates close to zero. I’m sure you remember that the Fed’s mission is to provide maximum employment and stable prices. And that it has three primary tools with which to do this – open market operations, discount window lending and setting reserve requirements. Of these, open market operations are the most important. Just in case you’ve forgotten, open market operations are the buying and selling of U.S. government securities in the open market. The Federal Reserve Bank of. . .

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Rundles wrap up: Down to the seeds and stems again, too

By Jeff Rundles

"Well, my dog died yesterday and left me all alone. The finance company stopped by today and repossessed my home. That’s just a drop in the bucket, compared to losing you. And I’m down to seeds and stems again, too." — Commander Cody Interesting song, sure, one that many of us in college in Ann Arbor in the early 1970s thought was genius. Little did we know at the time – or give any credence to – that the "losses" referred to in the song’s laments probably were attributable to, frankly, the guy singing having smoked too much pot. OK, I was in Ann Arbor in the hey-day of the so-called Hippie Movement, and, given my liberal sensibilities at the time, I did feel that marijuana should be legal. I no longer feel that way –. . .

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Changes to federal law open new avenues for business owners seeking capital

Legal Insight Special Section

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By David Babiarz and Trevor Crow Provisions of the Jumpstart Our Business Startups (JOBS) Act adopted by the U.S. Congress in 2012 create new opportunities for business owners seeking to raise capital to start or grow their businesses. Business owners who do not qualify for traditional bank financing have historically been very limited in the means by which they can contact investors to raise money. However, certain provisions of the JOBS Act, together with rules recently proposed by the Federal agency charged with overseeing capital formation, make that process easier. Business owners need to be aware of these provisions to take advantage of what might be a historic window of opportunity for job creation. Background When a company seeks to raise money to. . .

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Executive edge: Linda Arneson

Delta Dental COO applies lessons learned on athletic fields

By Lynn Bronikowski

When Linda Arneson started her career at Delta Dental, she worked out of the basement of a two-bedroom apartment in central Denver. At age 18, she would painstakingly file paperwork as a temp worker in an effort to gain business experience. In 1972, the graduate of Aurora’s Hinkley High School was hired full time and by age 26 was in management. Forty years later and seven moves to new locales before landing in the Denver Tech Center, Arneson is chief operating officer of Colorado’s oldest and largest dental-benefits company, serving more than 1 million members. "When I started, everything was done by hand," recalls Arneson, 59, who would ultimately oversee the automation of claims as one of her many jobs through the decades. "As the business changed, I. . .

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CEO of the Year 2012: Large company finalists

By Lisa Ryckman

(Now in its eighth year, the ColoradoBiz CEO of the Year award seeks to recognize outstanding professional achievement and community impact while taking into account obstacles surmounted, career-long body of work or other unique elements of the CEO’s life and work. Nominations from Colorado’s business community, ColoradoBiz readers and staff are evaluated by a judging panel made up of the magazine’s editorial board and, this year, representatives from the Colorado Association of Commerce & Industry.) Here are this year's finalists in the "Large Company" category: Peter Beaupré, president and COO, PCL Construction Enterprises Peter Beaupré's dream job? Comedian. Meanwhile, he hasn't given up his day job: president and chief. . .

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Tech startup: Atargis Energy Corp.

By Eric Peterson

INITIAL LIGHT BULB As an aeronautical research scientist at the Air Force Academy since 2000, Dr. Stefan Siegel moonlighted working on an underwater hydrofoil that could capture energy from the ocean’s currents better than existing technologies could. In 2008, Siegel was working in the field of feedback flow control, studying how to control the airflow around an aircraft wing and keep the plane in the air. After reading a Popular Science article on wave energy, he thought such a device might just be the "killer application for feedback flow control," he says. He left his job at the academy and launched Atargis Energy Corp., named for the fish god of the Philistines, with Victor Korea in 2010 to commercialize the technology. IN A NUTSHELL "There’s no. . .

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DEMOGALA 2012

Sun Microsystems CEO stresses edginess, leadership and having fun

By Eric Peterson

Photos by Michael Myers On the Web: www.demogala.com | www.coloradotechnology.org As a who’s who of the Colorado tech community noshed on breakfast the morning of Oct. 25, former Sun Microsystems CEO Scott McNealy took to the stage at the Sheraton Downtown Denver and delivered the keynote speech for the 8th annual DEMOgala, the Colorado Technology Association’s big annual event. Steve Foster, president and CEO of the CTA, said 2012 was a banner year for DEMOgala. "We’re well over 30 percent growth over last year," Foster said of attendance. The number of exhibitors jumped from 31 in 2011 to 55 in 2012, he added. "The amount of activity is ridiculously bigger than last year." McNealy was in the Mile High City as the event’s keynote speaker, but also to help launch Wayin, a new social-media startup. (He’s chairman of the company.) After rattling off. . .

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State of the state: Technology

Tech event draws vendors, businesses

By Eric Peterson

Held at the cavernous Winds Over the Rockies Air and Space Museum in Denver’s Lowry neighborhood on October 12, the inaugural Denver Business Technology Expo drew about 600 attendees who came to network amidst the vintage aircraft and gather swag like foam rockets and blinking ice cubes. Attendance was about double the initial projection, according to David DeCamillis, president of the event’s organizer, Colorado Technology Partners, and director of business development for Denver-based technology consulting firm Platte River Networks. "The show was a huge success," he said. "We got great feedback from exhibitors, attendees and sponsors." Colorado Technology Partners, comprised of 12 local technology providers focused on small- and medium-sized. . .

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Business as usual: Twinkies’ last stand

By Mike Taylor

It’s hard to say whether the demand was driven by nostalgia or sugar cravings, but the announcement by Hostess in mid-November that it was going out of business set off a wave of panic buying usually only seen when Apple unveils another gadget or Wal-Mart opens its doors on Black Friday. Given this fresh material to work with, cartoonists had a field day, with images that included eight men dressed in black lifting a casket-sized Twinkie into a hearse; a Twinkie headstone with the inscription "R.I.P. , 1930-2012; and a likeness of Stonehenge made of giant Twinkies. Never mind that Hostess’ most-loved brands – Twinkies, Suzy Q’s, Ding Dongs, Zingers, fruit pies – are likely to be snapped up by another manufacturer. The company said buyers interested in some of its brands have already surfaced after Hostess failed to emerge from its second Chapter 11. . .

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CEO of the Year 2012: Medium company finalists

By Eric Peterson

(Now in its eighth year, the ColoradoBiz CEO of the Year award seeks to recognize outstanding professional achievement and community impact while taking into account obstacles surmounted, career-long body of work or other unique elements of the CEO’s life and work. Nominations from Colorado’s business community, ColoradoBiz readers and staff are evaluated by a judging panel made up of the magazine’s editorial board and, this year, representatives from the Colorado Association of Commerce & Industry.) Here are this year's finalists in the "Medium Company" category: Jeff Popiel CEO, Geotech Environmental Equipment After starting in sales with the family business in 1996, Popiel took over as Geotech CEO from his father Jerry in 2008 just as the recession. . .

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Legal Insight Special Section: Time to call a lobbyist

The competitive edge of knowing and understanding the state legislature

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By John Karakoulakis The Colorado General Assembly considers an average of 600 bills each legislative session. Remarkably, the legislature passes about half of those bills – an average of three bills every day they are in session. Many of these laws are narrowly targeted toward a specific issue or problem but often they have broad impacts on businesses with Colorado operations, such as new laws impacting labor and employment, tax, licensing, business regulation, economic development incentives, or resource and environmental issues. These types of laws impact every business in Colorado. With the Colorado General Assembly reconvening on January 9, 2013, companies with operations in Colorado should assess whether there is value in monitoring state legislative. . .

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CEO of the Year 2012: Small company finalists

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(Now in its eighth year, the ColoradoBiz CEO of the Year award seeks to recognize outstanding professional achievement and community impact while taking into account obstacles surmounted, career-long body of work or other unique elements of the CEO’s life and work. Nominations from Colorado’s business community, ColoradoBiz readers and staff are evaluated by a judging panel made up of the magazine’s editorial board and, this year, representatives from the Colorado Association of Commerce & Industry.) Here are this year's finalists in the "Small Company" category: Chris Conroy president and owner, Yeti Cycles, Golden Founded in the 1980s and bought and sold by Schwinn in the 1990s, mountain-bike maker Yeti enjoyed 30 percent growth in 2012, hitting. . .

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Anxiety & optimism

Colorado M&A activity solid in 2012 but not roaring

By David Lewis

The Colorado mergers and acquisitions market was mocked, rocked, socked and shocked right out of its jockstrap in 2007-2008. If financial markets had a heart it would have stopped then. But by 2009, M&As were turning back up again. Not up to the deal numbers of the bubbly mid-2000s, but nationwide steadily turning out about 2,500 transactions per quarter, and roughly 90 to 109 in Colorado. The funny thing is that both conditions linger in M&A markets today: anxiety and optimism, cheer and foreboding. Like that. The mergers and acquisition market is like sitting down to a big Italian meal – an aperitif, followed by antipasto, polenta, broccoli, salad, lasagna, fruit and cheese, dessert – but you already have heartburn. The good news is – if you. . .

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Back to school, back to work

Colleges and universities help workers update their skills

By Nora Caley

Adults expect to change employers, and even change careers, throughout their working lives. Colorado colleges and universities are eager to help. They are expanding their programs and adding courses that can help professionals get ahead, move to a different job, or even start a new career. Adult students are enrolling in everything from weekend classes to years-long graduate degree programs. Here is a roundup of new or expanded programs from institutions of higher learning around the state. American Public University System American Public University System’s Bachelor of Science degree program in Nursing has been accredited by the Commission on Collegiate Nursing Education. APUS launched the nursing program in January 2011 to meet the professional development needs of nurses who hold an associate degree in nursing and an active Registered Nurse (RN) license, but do not. . .

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