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FCC cancels vote on overhauling telecom regulations

Rocky staff and wire reports

Published November 4, 2008 at 12:05 a.m.

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The head of the Federal Communications Commission is canceling a controversial Election Day vote on a plan to overhaul telecom regulations.

The decision is a setback for FCC Chairman Kevin Martin, one of three Republicans on the five-member commission. He hoped to pass two of his proposals before power changes hands in Washington. Several lawmakers and consumer groups sought a delay.

One of Martin's plans would have rewritten the fees that phone companies pay each other to connect calls. The other plan would have altered the multibillion-dollar federal fund that subsidizes phone service in underserved areas.

HURT BY LEGAL CHARGE MasterCard said Monday that it swung to a loss in the third quarter, hurt by a hefty legal charge.

The Purchase, N.Y.-based credit card company lost $193.6 million, or $1.49 a share, compared with a profit of $314.5 million, or $2.31 per share, a year earlier.

MasterCard recorded an after-tax charge of $515.5 million related to a settlement agreement with Discover Financial Services LLC.

Excluding the charge, MasterCard earned $322 million, or $2.47 per share, which easily beat analysts' average estimate of $2.25 per share.

Revenue increased 24 percent to $1.3 billion.

LOCAL

Vail Resorts completes purchase of Mountain Express

Vail Resorts Inc. completed its $38.3 million purchase of the Colorado Mountain Express transportation service.

Colorado Mountain Express operates a fleet of 250 vans and luxury SUVs, offering year- round transportation from Denver International Airport and Eagle County Airport to the Vail and Aspen areas and Summit County.

EXECUTIVE DIRECTOR NAMED Historic Denver Inc. has named a new executive director, attorney Robert E. Musgraves, according to an announcement Monday by the nonprofit group.

Musgraves, 53, former president and chief operating officer of Titanium Metals Corp., or TIMET, replaces Steve Turner, who left Historic Denver to become director of the State Historical Fund.

Musgraves has served on the Historic Denver board and been a member of its executive committee.

The organization also has named Annie Robb Levinsky deputy director. Levinsky, 28, is director of the Molly Brown House Museum and will continue to oversee operations there.

NEW CENTER Exempla Lutheran Medical Center in Wheat Ridge on Monday announced the opening of the new West Pines Recovery Center. The two-week inpatient program combines evidence-based, clinical treatment with exercise and acupuncture to help patients recover.

* Gary Fowler joined Bank of the West to oversee the Bank's National Banking and Energy teams in the intermountain West.

* First State Bancorporation appointed Jed Fanning as chief credit officer.

* Buildings magazine presented its annual Greener Facilities Grand Prize to the Medical Center of the Rockies in Loveland.

* The Colorado Association for Manufacturing & Technology named Curt Viehmeyer, owner of Sears Trostel Lumber & Millwork in Fort Collins, to the association's board of directors.

* Alliance Construction Solutions opened its Denver office at 1028 Park Avenue West.

* Thomas Hineline joined the DTC Market Center of Keller Williams Realty.

* Gourmet Fine Catering opened its new location at 3600 E. 40th Avenue in Denver.

* The Arizona Historical Society selected Fentress Architects as the designer of its new Arizona History Museum.

* Panorama Orthopedics & Spine Center opened an office in Westminster.

* The Denver Chapter of the Western Pension & Benefits Conference will host its monthly luncheon on Nov. 11 at the Brown Palace Hotel. William Fornia, a senior vice president and consulting actuary for Aon Consulting, will speak. Information: westernpension.org/ 1816.html

* Erick Kidd was promoted to regional manager for U.S. Bank In-Store Banking in the Mountain Region.

* The newly formed Denver Business Advisors will offer pro bono consultation in the areas of law, finance and accounting, sales and marketing, and management to help emerging businesses. Information: denver businessadvisors.com

* Key Equipment Finance named James O. Ray as vice president of client services.

* Summit Staffing will be holding interviews for jobs at a local manufacturing company on Thursday at the Jefferson County Workforce Center in Golden. Information: 303-271- 4775.

* Associated Bodywork & Massage Professionals' digital Massage & Bodywork magazine won a gold award from the international MarCom Awards, sponsored by the Association of Marketing & Communication Professionals.

* Lakewood-based FirstBank Holding Company awarded five students at the University of Colorado at Boulder with four-year scholarships, including Briton L. Bock of Eagle, Cole M. Bostrom of Brush, Jesse K. Fife of Fruita, Emilio J. Lone Elk of New Raymer, and Lisa C. Meleney of Littleton.

* Husch Blackwell Sanders LLP opened its Denver office at the Wells Fargo Center.

* The Best Lawyers in America named Michael S. Burg, Peter W. Burg, Kerry N. Jardine and John M. Restaino Jr., all of Burg Simpson Eldredge Hersh & Jardine P.C., to its 2009 list.