Business briefs: Oct. 2

The Rocky

Published October 2, 2008 at 12:05 a.m.

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Construction in August flat

Construction activity was unchanged in August, but spending for residential proj- ects posted the first increase in 17 months, a rare bit of good news in the midst of the worst housing downturn in decades.

The Commerce Department on Wednesday said construction activity was flat in August, a better-than-expected outcome than the 0.5 percent fall that economists expected.

The big surprise was a 0.3 percent rise in residential activity, the first increase in housing activity since March 2007.

* A measure of U.S. manufacturing activity contracted more than expected in September, hitting the lowest level since the aftermath of the Sept. 11 attacks.

The reading of 43.5 from the Institute for Supply Management on Wednesday was down from August's 49.9. It also was worse than economists' prediction of 49.5. A reading above 50 signals growth.

NATIONAL

4.2 million green jobs to be created in next 3 decades, study says

A major shift to renewable energy and efficiency is expected to produce 4.2 million new environmentally friendly "green" jobs over the next three decades, according to a study commissioned by the nation's mayors.

About 750,000 people now work in what can be considered green jobs, from scientists and engineers researching alternative fuels to makers of wind turbines and more energy-efficient products, according to the study. But that's less than one-half of 1 percent of total employment.

By 2038, another 4.2 million green jobs are expected to be added, accounting for 10 percent of new job growth over the next 30 years, according to the report by Global Insight Inc.

BUFFETT BACKS GE Warren Buffett's Berkshire Hathaway Inc. is investing $3 billion in General Electric Co., a huge vote of confidence for an iconic American company battered by the credit crisis.

Buffett is buying $3 billion of General Electric preferred shares. The perpetual preferred stock carries a dividend of 10 percent.

ELI LILLY Drugmaker Eli Lilly & Co. reportedly is the secret suitor courting ImClone Systems Inc. and is offering $6.1 billion for the biotech company.

Indianapolis-based Lilly is in advanced talks about the deal, The Wall Street Journal reported Wednesday, citing people familiar with the matter. The newspaper said Lilly is the unnamed large pharmaceutical company that ImClone Chairman Carl Icahn has said offered three weeks ago to acquire the company for about $70 a share, pending a review of its books.

CARMAX LAYOFFS CarMax Inc. said Wednesday it is laying off 600 employees, or about 4 percent of its work force, as the auto retailer tries to cut costs due to a decline in car and truck sales.

The Richmond, Va.-based company said the reductions are in its service operations departments at a majority of its production superstores, where it reconditions vehicles.

YUM CALORIES Curious about how many calories are packed into that burrito or fried chicken you crave? Fast-food company Yum Brands Inc. says it's taking the guesswork out of counting calories. The parent of KFC, Taco Bell, Pizza Hut, Long John Silver's and A&W All-American Food said Wednesday it will voluntarily add product calorie information to menu boards in its company-owned restaurants nationwide.

LOCAL

Regional supply managers confident in short term

Supply managers in Colorado, Utah and Wyoming say they have confidence in the economy short term.

But they're not so sure about the months ahead.

The Mountain States Business Conditions Index for September was at 56.3, down from August's 56.4. A number 50 and above indicates confidence that the economy will expand.

NETFLIX Netflix announced an agreement to make movies from Douglas County-based Starz Entertainment's StarzPlay broadband service available as part of its monthly subscription fee.

Starz provides 2,500 movies and other videos.

SUNFLOWER STORE Sunflower Farmers Market will officially open its new Aurora store Oct. 8.

The store, the Boulder-based company's seventh in Colorado, is at 15404 E. Briarwood Circle at the corner of Parker and Arapahoe roads.

* Doris Kirchner joined the Vail Valley Medical Center as senior vice president and chief operating officer.

* Valen Technologies hired Greg Penn as vice president of engineering.

* Holland & Hart partner Jim Goh was appointed to the American Bar Association's Commission on Women in the Profession.

* Integrated Computer Consulting appointed Kathy Bauer director of sales and marketing.

* Brothers Redevelopment named Shannon Peer director of housing counseling and Stephanie Riggi Colorado foreclosure prevention hotline manager.

* Exempla Saint Joseph Hospital in Denver named George Rudloff chief nursing officer, Chris Vittum senior director of nurses, Angela Polson associate chief nursing officer, Jennifer Misajet senior director of surgical services and Dierdre Baggot senior director of cardiac and vascular services.

* Mike Ward joined Marston & Marston Inc. in Lakewood as a geologist.

* Digital Data Services Inc. hired Douglas Ruhl as director of sales and business development.

* SBIRT Colorado recently promoted Brenda Kane to program coordinator.

* DLR Group appointed Bill Valdez as a principal.

* The Colorado Association of Biomedical Equipment Technicians and Echoserve will host Lt. Gov. Barbara O'Brien at its meeting on Oct. 14 in Golden. Information: info@cabmet.org

* SCI honored Gene Steinke for 60 years of service with Olinger Mortuaries and Cemeteries in Denver.

* The Denver Campus of Johnson & Wales University will host a statewide economic policy summit to discuss economic trends and energy policy issues affecting the state on Oct. 20. Information: 303-256-9438

* Sarah and Ryan Osborne opened Orchard Books at the Orchard Mall in Westminster.

* The Eating Recovery Center opened across the street from Exempla Saint Joseph Hospital in Denver.

* The Colorado chapter of the Business Marketing Association will host Bruce Hutton, an expert on corporate sustainability, on Wednesday at Beyond Green: Present and Future Impacts on Your Brand Promise. Information: 303-607-9957

* Joe Lhotka, of Clifton Gunderson in Broomfield, was awarded his certification in financial forensics credentials.

* Sprig Toys Inc. of Fort Collins added Patrick Feely to its board of directors.

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