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Business/Economy

  • LANB parent company inks deal with KC Fed

    Trinity Capital Corporation, the parent company of Los Alamos National Bank, reached an agreement with the Federal Reserve Bank of Kansas City, to develop a plan to provide financial support to the bank and maintain sufficient capital.

    The written agreement, signed Sept. 26, between the two entities bars Trinity from paying dividends or incurring additional debt without the Fed’s approval.

    “We entered into the agreement with the federal bank last week,” LANB president Steve Wells said. “The agreement also requires Trinity and LANB to abide by a Nov. 30 agreement between the bank and the Office of the Comptroller of the Currency. That agreement called for the bank to review its management team and credit underwriting and administrative policies."

    According to Wells, the OCC was concerned that LANB overextended itself on $5.5 million in loans that were spread out amongst seven customers. The bank extended the loans into 2012. The OCC’s opinion was that the bank should have called in the loans in 2011. Wells said the bank has about $1.2 billion in total loans.

  • Warm hearts

    If there’s one thing Tina Derr remembers about the Cerro Grande Fire, it’s the Christmas ornaments.
     She was one of the 400 residents who lost her home to the fire, but someone, somewhere thought about her family’s plight, and gave them Christmas decorations.
    A small gesture, but one she remembered as going a long way toward adding a little normalcy as well as dignity to the end of what was a very gut wrenching and tumultuous year for many.
    “People were so kind to us, and someone did a really nice gesture by giving us some Christmas ornaments after the fire so we had something, ” she said.
    “To have something like that happen in the midst of rebuilding, it just touched our hearts, just knowing that somebody cared.”
    Now, a full 13 years later, Derr was thinking about this as she watched what the residents of Black Forest, Colo., were going through earlier this year, as fire raged through their town claiming 509 homes and two lives before it was over.
    “One day, God put this in my head, saying, ‘hey, we need to make gloves, hats and scarves because it’s going to start getting cold up there,” she said. “It’s been two months since the fire, but for some reason, God dropped this on my head and said ‘get it done.’”

  • Food truck offers variety of fare

    At festivals and outdoor concerts around Los Alamos, Chuck’s Wagon is there to make sure no one goes hungry.
    Chuck’s Wagon mobile food truck travels throughout the state to festivals, carnivals, picnics and other events that require “Fair food.” Most recently, they were the only food vendor at the Next Big Idea Festival at Fuller Lodge and they also were a vendor at Zozobra and the Renaissance Fair in Santa Fe. It was occasionally one of the vendors at the Friday Night Concerts. It plans to be at Mountain Elementary School’s Halloween Carnival.
    Chuck’s Wagon is known for its “Fair” food, burgers, funnel cakes, fresh cut fries and fresh squeezed lemonade.
    Chuck and Miracle Miller make their business a family affair. Their two sons, Reagan, 12 and Hunter, 10, also help out during festivals. It was first established in July.
    The plan is to expand their menu and find a permanent spot in the Los Alamos community, which is a plan already in the works. They leased the space from the property owner and went to the county for approval on the space. They received a permit to park across from Ashley Pond and they can begin operations on Oct. 1.

  • Sporting goods store to open soon

    Many are looking forward to one new business scheduled to open soon: Fusion Multisport.
    Owners Rose and Brad Nyenhuis relocated from Indiana in order to open their business here.
    “My husband and I were looking for business out West: Utah, Colorado, and Brad expanded his search to New Mexico,” Rose said. “So we were looking for business opportunities, because we love the mountains and we wanted to live somewhere near mountains or in the mountains.”
    The Nyenhuises came to Los Alamos to look at an existing business that was on the market. They decided that business was not a good fit for them, but they fell in love with the town while they were here. They had never been in Los Alamos before that.
    When they were preparing to visit Los Alamos, Brad posted a question on an online mountain bike forum, asking if anyone could tell them about mountain biking here. He received a response from one of the local cyclists and an invitation to go for a ride while he was here.
    That person introduced the couple to several other residents during their visit, and that group suggested opening a sports oriented business. Rose is a hiker and Brad is a biker, so it seemed like a perfect fit.

  • Officials: LA commercial development looking up

    They may not have signed on the dotted line yet, but many commercial enterprises are taking a closer look at Los Alamos.

    “There’s a lot of tire kicking, a lot of people looking —hotels, restaurants, retail,” said Los Alamos Commerce and Development Corporation Executive Director Scott Randall.

    “There are a lot of prospects. We ­—Economic Development, LACDC, the brokers — are seeing a lot of activity out there,” said Los Alamos Economic Vitality Administrator Greg Fisher. “I really don’t know that there are any deals that have closed yet, but the good news is that there’s a lot of activity. I’ve estimated about 50,000 square feet.”
    Fisher admits he does not know why interest has surged, but he suspects the Trinity Site development is a key factor.

    “$28 million being spent by Kroger Corporation for the Trinity Center is a huge catalyst. That’s a huge commercial investment: probably one of the largest commercial investments in decades in Los Alamos. And that attracts attention,” Fisher said.

  • Los Alamos County lowest uninsured rate in NM

    SANTA FE, N.M. (AP) — The Census Bureau reports that Los Alamos County has among the lowest uninsured rates in the nation.

    The federal agency estimates that 4.7 percent of the county's population under 65 lacked health insurance in 2011. Only Norfolk County in Massachusetts had a lower uninsured rate — 3.1 percent.

    The Census Bureau released a report last month on county-level insurance coverage.

    McKinley County in northwestern New Mexico had the highest uninsured rate — 31.8 percent — among the state's 33 counties.

    Statewide, more than a fifth of New Mexicans lacked health insurance.

    In New Mexico, as with all states, the uninsured rate is higher for adults than children.

    Nearly 29 percent of New Mexican ages 18 to 64 lack health insurance, but about 10 percent of children are uninsured.

  • Ruby K's cooks up ideal hangout spot

    Ruby Alexander’s first thought when opening up a café was how to give the community a place to gather and spend time together.

    Since the opening in 2005, Ruby K’s has done just that.

    “It has become a common staple in Los Alamos,” Alexander said. “It is a place where there is great food, great service and the perfect spot to hang out.”

    Located in downtown Los Alamos, its central location is ideal, Alexander said.

    Alexander has lived in Los Alamos for 28 years.

    With a menu consisting of bagels, sandwiches, desserts and the well-received smoothie, the plan is to branch out.
    Currently, Ruby K’s offers cupcakes, cake pops and mini pies, which according to Alexander, are flying off the shelves. Moreover, she wants to expand the business to offer more catering — luncheon-based items, such as appetizers, mini sandwich platters, fruit and veggie platters and other finger foods for office parties, gatherings and even weddings. Ruby K’s makes their sandwiches with homemade breads.

    Alexander said she wants to offer items for teens, which can allow them to get together with their friends after school.

  • Stylist offers added touch of 'glam'

    For a little bit of glitz and bling or to get a new look, Monica’s Accessories Boutique is available to make that happen.

    Monica’s is not just a typical hair salon. Owner Monica Duran incorporates a wide array of boutique clothing, as well as jewelry, handbags, cosmetics and hair products.

    The lifelong resident of Los Alamos has been in business at the current location for 17 years and three years ago she remodeled the shop and added the boutique to offer her clients something more.

    “I love doing what I do,” Duran said. “Hair comes first and the rest is for my clients while they are here.”

    Duran and Sylvia Salazar, a cosmetologist, have worked together for the last eight years.

    Although she says the location is “hidden” at 1460 Trinity Drive, Suite 9, Duran said she has no shortage of customers.

    “My clients know where I am and really support what is going on here,” she said. “I’ve been doing hair for lots of years and I have done very well.”

    The shop is a full service salon.

    Duran got the idea of adding the boutique from clients who would travel and buy things at boutiques in other parts of the country.

  • NM rate increase OK'd for Blue Cross Blue Shield

    SANTA FE, N.M. (AP) — New Mexico's insurance regulator has approved a rate increase of at least 9 percent for about 26,000 customers of Blue Cross Blue Shield.

    The Office of Superintendent of Insurance said Monday there will be increases of 9.2 percent or 10.4 percent starting in December for the company's policyholders.

    The regulatory agency attributed about 5 percent to 6 percent of the increase to rising medical costs and the remainder to fees imposed on insurers by a federal health care overhaul law.

    Insurance Superintendent John Franchini said 80 percent of the premiums collected by Blue Cross must be spent on medical expenses.

    Franchini encouraged New Mexicans who don't obtain health insurance through their employer to explore buying coverage through the state's health insurance exchange, will is to start accepting applications next month.

  • Doomsday Preppers Go Upscale With Luxury Bunkers

    A Southern California company is building luxury survivalist bunkers complete with wide-screen TVs, plumbing, and bunk-beds. They start at about $65,000 dollars and that doesn't include the cost of digging a big enough hole.