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Business/Economy

  • Date set for Smith's groundbreaking

    It’s official.

    Mark your calendars for July 23.

    That is when there will be a groundbreaking at 1:30 p.m. for the Smith’s/Kroger Trinity Site.

    Los Alamos County and Smith's just finalized their plans this afternoon for the Trinity Site.

    More details will be published when they become available.

  • Hostess: Twinkies to return to shelves July 15

    NEW YORK (AP) — Hostess is betting on a sweet comeback for Twinkies when they return to shelves next month.

    The company that went bankrupt after an acrimonious fight with its unionized workers last year is back up and running under new owners and a leaner structure. It says it plans to have Twinkies and other snack cakes back on shelves starting July 15.

    Based on the outpouring of nostalgia sparked by its demise, Hostess is expecting a blockbuster return next month for Twinkies and other sugary treats, such as CupCakes and Donettes. The company says the cakes will taste the same but that the boxes will now bear the tag line "The Sweetest Comeback In The History Of Ever."

    "A lot of impostor products have come to the market while Hostess has been off the shelves," says Daren Metropoulos, a principal of the investment firm Metropoulos & Co., which teamed up with Apollo Global Management to buy a variety of Hostess snacks.

  • Stocks Tumble After Fed Signals Changes
  • Business Spotlight: Wildfire burns profits for mountain merchants

    This time of year, business is usually thriving for Jemez retailers, yet, another fire season begins to take its toll.

    The typical crowds of campers, fishermen and outdoor enthusiasts have now been replaced with buses and trucks full of personnel working in shifts and sleeping in tents while fighting the Thompson Ridge Fire.

    Although the lands within the Santa Fe National Forest have remained open throughout the course of the fire, recreational visitors are currently staying clear of the area, it seems, mostly due to fear of heavy smoke and misinformation regarding road and forest closures.

    Garth and Robin Bascom, owners of the Elk Mountain Lodge in La Cueva, said that guests booked as far off as July, have called and cancelled their reservations citing the fire as the reason for their decision. Robin said that she has had six cancellations in just the past week alone.

    Many who are not familiar with the Jemez area have a false impression of how close the fire and smoke is to other popular outdoor destinations.

    The fire is currently burning only in the Valles Caldera with smoke actually moving the opposite direction of La Cueva and Jemez Springs.

  • Diner offers slice of 1950s nostalgia

    The Fabulous 50s Diner prides itself on two things as its motto states, “Good food year round,” and keep it affordable.

    General Manager Charlie Bracken strives to build a family oriented business with a reasonably priced menu. It is a “cooked to order” menu that serves breakfast all day long and a special of the week.

    There are a wide variety of items, from traditional burgers and hot dogs to enchiladas and chile rellenos.

    The diner contains a full soda shop that serves milkshakes, floats, smoothies, banana splits, 28 flavors of ice cream — made by Blue Bell and three non-sugar flavors.

    A Build-Your-Own-Burger and Build-Your-Own-Salad bar is loaded with toppings to choose from. Bracken also makes soup from his own personal recipes.

    The diner opened under its current name in 2008. Owners Peter and Loretta Olivas have known Bracken for many years. A few years ago, Bracken was working for the original owner, who wanted to return to Texas and sell the business. Bracken and Olivas “put all the cards on the table to make that happen,” Bracken said.

    “I am trying to build myself up and prove myself to others in the community,” Bracken said, who has many years of experience in the restaurant business.

  • Trustees say Medicare exhausted in 2026

    WASHINGTON (AP) — The government said Friday that Medicare's giant hospital trust will not be exhausted until 2026, two years later than projected last year, while the date that Social Security will exhaust its trust fund remained unchanged at 2033.

    The latest projections were included in the annual report of trustees of the trust funds. The new report warned that despite the small improvement in Medicare, both it and Social Security face significant funding challenges as the giant baby boom generation continues to retire. Currently, 58 million Americans are receiving Social Security benefits.

    The reasons given for the improved financial outlook for Medicare were an overall slowdown in health care spending, particularly on skilled nursing care, as well as lower projected costs for popular insurance plans available within the Medicare program.

    Treasury Secretary Jacob Lew, the chairman of the trustees, said President Barack Obama is committed to working with Congress to put both programs on a stronger footing.

    "Protecting Social Security and Medicare is one of the most significant challenges we face today as a nation. And it is a challenge that we can and must meet," Lew told reporters at a news conference.

  • LABC gains in membership

    This month, the Los Alamos Beer Cooperative (LABC) signed its 100th member, passing a milestone in the campaign to bring craft beer to the Los Alamos community.
    As of mid-May, just two months shy of the organization’s first anniversary, the LABC is 118 members strong, and ready to kick off a summer season of fundraising and fun — all in the name of bringing locally-brewed beer to the Atomic City.
    Governed by the cooperative principal of “one member, one vote,” LABC members are actually part owners in the organization. As such, each member plays a role in setting the long-term goals and policies of the co-op, and will eventually have a say in the operations of the brewery and taproom. Though member-owned, the LABC plans to hire a professional brew master to help craft a repertoire of beers unique to Los Alamos that reflect the spirit of the high desert landscape and the character of the community.

  • Local orthodontist brings a piece of Hawaii to LA

    As the hot, dry summer begins to take its hold on Los Alamos, a new icy treat will be available to help residents survive the heat.
    Local orthodontist Dr. Devan Vest and his partner Dan Richards recently launched their new business venture Northshore Shave Ice Co. to provide the community with a unique summer treat.
    They began the season last week at the White Rock Kite Festival with plans to keep regular hours at Vest’s practice this summer.
    The concept for the business came many years earlier as the two were attending a small college and rooming together on the North Shore of Oahu, Hawaii. Both Vest and Richards fondly recount visiting the local shave ice vendor, to seek relief from a hot, salty day at the beach.
    “We would often spend the day at Waimea Bay and, when sufficiently salt crusted and sun baked, we would head over to Matsumoto’s in Haleiwa for shave ice,” Richards said. It was at this shop that the two hatched the idea of owning their own shave ice business someday.

  • Local orthodontist brings a piece of Hawaii to LA

    As the hot, dry summer begins to take its hold on Los Alamos, a new icy treat will be available to help residents survive the heat.
    Local orthodontist Dr. Devan Vest and his partner Dan Richards recently launched their new business venture Northshore Shave Ice Co. to provide the community with a unique summer treat.
    They began the season last week at the White Rock Kite Festival with plans to keep regular hours at Vest’s practice this summer.
    The concept for the business came many years earlier as the two were attending a small college and rooming together on the North Shore of Oahu, Hawaii. Both Vest and Richards fondly recount visiting the local shave ice vendor, to seek relief from a hot, salty day at the beach.
    “We would often spend the day at Waimea Bay and, when sufficiently salt crusted and sun baked, we would head over to Matsumoto’s in Haleiwa for shave ice,” Richards said. It was at this shop that the two hatched the idea of owning their own shave ice business someday.

  • Yahoo takes big leap with $1.1B deal for Tumblr

    SAN FRANCISCO (AP) — Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet icon that had fallen behind the times.

    The deal announced Monday represents Mayer's boldest move yet since she left Google 10 months ago to lead Yahoo's latest comeback attempt. It marks Yahoo's most expensive acquisition since the Sunnyvale, Calif., company bought online search engine Overture a decade ago for $1.3 billion in cash and stock.

    Yahoo is paying all cash for Tumblr, dipping into some of its remaining stash from a $7.6 billion windfall reaped last year from selling about half of its stake in Chinese Internet company Alibaba Holdings Group. Taking over Tumblr will devour about one-fifth of the $5.4 billion in cash that Yahoo had in its accounts at the end of March.

    While hailing Tumblr as fount of creativity that attracts 300 million visitors per month, Yahoo pledged "not to screw it up." David Karp, a high school dropout who started Tumblr six years ago, will remain in control of the service in an effort to retain the same "irreverence, wit and commitment to empower creators," Yahoo said.