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Business/Economy

  • LA Food Co-op turns two

    The Los Alamos Cooperative Market celebrated its second birthday Saturday. The market was a flurry of activity all day with music, food, kids activities, birthday cake, chair massage and raffles. 

  • Hotel auction delayed

    The Los Alamos National Bank has postponed a foreclosure auction of the Hilltop House Hotel until March 15, according to owner Ron Selvage.

    The hotel was scheduled to be auctioned off by the special master appointed by the First Judicial Court at 11:45 a.m. Wednesday on the steps of the Los Alamos County Justice Center.

    But the bank decided to give Selvage an extension.

    Selvage said the deal he had made with a potential buyer a couple of weeks ago fell through. But, according to Selvage, there are two other interested parties.

    Los Alamos National Bank president Steve Wells confirmed the date was pushed back.

    “I know we delayed it,” Wells said. “Facilitating a business transaction can take a long time. March 15 sounds about right.”

    The Los Alamos National Bank put the wheels in motion to foreclose on the company that owns and manages the Hilltop House Hotel back in October.

    According to the legal notice that appeared in the Los Alamos Monitor, the total amount awarded by the judgment to LANB with interest to the date of the sale is $4,531,155,69 plus additional costs and attorney fees. The amount of interest to date is $521,785.36.

  • Beer co-op concept comes to a head

    Heads up all you beer enthusiasts, if you’ve developed the habit of going off “the Hill” for a good brew, you should know that there’s a plan in the works to fix all that.

    Steve Watts, vice president of the Los Alamos Food Co-op board of directors, said he’s currently trying to start a brewery and taproom right here in Los Alamos. Set up along the lines of the food co-op, he’s currently looking for investors as well as people who are looking to become members of the new venture.

    “The co-op model gives people the idea that they can really own it as well as have a say in the business,” said Watts, adding that the co-op model has helped them raise funds for the project, since people can readily buy a share in the business.

    Watts said they are offering $100 investment shares that would eventually pay a dividend, as well as various membership plans, such as a Class A full equity share for $250, which gives buyers a direct share in the business. Other membership plans include an annual membership to the co-op for $50 or an annual Class B investment share for $100.

    For more information and details on each of the plans, go to losalamosbeer.coop.

    Watts said if the project gets enough funding, then they will go ahead and look for a location, buy equipment and hire employees.

  • Real estate firms merge

    Zia Realty Group Broker/Owner James Chrobocinski, center, poses with his new associates, brokers Pearl White and David Horpedahl. Zia Realty Group acquired the real estate sales branch of Real Estate Associates PVW, LLC in January. White retained  ownership of Real Estate Associates PVW, LLC as a Property Management brokerage. Horpedahl's agency, Los Alamos Properties, will be acquired by Chrobocinski this Friday, at which point Zia Realty Group will grow to 19 Realtors. “When a business closes, everyone thinks the worse,” Horpedahl said. “We’re not closing, we’re merging to give better services, which is hopefully a win-win-win for the community as well as for us.”

  • SPIN METER: In budget fight, sky is falling again

    WASHINGTON (AP) — President Barack Obama and his officials are doing their best to drum up public concern over the shock wave of spending cuts that could strike the government in just days. So it's a good time to be alert for sky-is-falling hype.

    Over the last week or so, administration officials have come forward with a grim compendium of jobs to be lost, services to be denied or delayed, military defenses to be let down and important operations to be disrupted. Obama's new chief of staff, Denis McDonough, spoke of a "devastating list of horribles."

    For most Americans, though, it's far from certain they will have a terrible, horrible, no good, very bad day if the budget-shredder known as the sequester comes to pass. Maybe they will, if the impasse drags on for months.

    For now, there's a whiff of the familiar in all the foreboding, harking back to the mid-1990s partial government shutdown, when officials said old people would go hungry, illegal immigrants would have the run of the of the land and veterans would go without drugs. It didn't happen.

  • Enloe retires, leaves lasting legacy

    The year was 1971.

    And Bill Enloe thought for sure he was going to get drafted.

    With the Vietnam War in full swing, he had just graduated from Eastern New Mexico University and immediately after getting his degree, he was handed a 1-A draft designation.

    He walked into the Los Alamos National Bank to close his accounts, resigned to his fate.

    “I actually knew the vice president of the bank and I was closing out my accounts,” said Enloe, who was the captain of the 1966 Los Alamos High School football team that won the state championship.

    “I mentioned what was going on and she said, ‘Why don’t you work here until you are actually drafted?’ I don’t know if it was fate or bad luck. They put a moratorium on the draft a few months later.”

    And the rest, they say is history.

    In August 1971, the bank was eight-years-old with one branch office, $15 million in assets and 12 employees. Today, LANB has six branch offices, $1.6 billion in assets and 350 employees, and it has also become the largest community bank in New Mexico.

    On Feb. 1, Enloe, 64, the chief executive officer of LANB, announced his retirement after 42 years at the bank.
    Enloe worked his way up the LANB ladder and became president in 1979.

  • LANB CEO retires

    William Enloe, who has served as chief executive officer of Trinity Capital Corp. and Los Alamos National Bank since 1979, announced his retirement effective last Friday in a letter to the bank’s board of directors.

    In his letter, Enloe, who has been with the bank since 1971, said that he has watched the bank grow from a small community bank with just more than $11 million in assets to a bank with more than $1 billion in assets.

    “I believe I leave as my legacy an institution that cares about its employees, its customers and the communities it serves and I believe that the board of directors, Steve Wells and the rest of the management team will continue to operate the bank in the same situation,” he wrote.

    Enloe said his plans for the future are uncertain at the time but he intends to take some time off to rest and relax.

    “I expect that I will find new challenges,” he wrote. “I have enjoyed the many years that we have worked together to make the Los Alamos National Bank what it is today.”

    Wells said he has worked with Enloe for 28 years.

  • Worried Drivers Watch As Gas Prices Surge

    The Energy Department rays U.S. drivers spent 4 percent of their pre-tax income on gasoline last year, the second highest percentage in thirty years.

  • Aviation industry might take off with tax relief

    Pilots in New Mexico may have a fantastic views to look at when they are airborne and no doubt, the arid climate is a plus when it comes to preserving a plane’s condition. However, that’s just about all most pilots — and anyone else connected to the aviation industry in New Mexico — believes it has going for them.

    According to some, the tax structure really comes down hard on a type of business that has yet to blossom in the state. Many of those in the aviation business find the state’s seven percent gross receipts tax on aviation supplies and services oppressive, especially when it comes to maintenance.

    When the hail storm hit Los Alamos last October, all of the pilots affected had to ship their damaged planes out of state to a facility in Colorado because there is no aviation repair facility in New Mexico equipped to handle it — or at least one that would repair the hail damage for the right price, which is typically dictated by what an insurance company is willing to pay.

    According to Los Alamos Airport Manager Peter Soderquist, 18 airplanes were damaged in the storm and many of those were considered a total loss. To his knowledge, not one of the aircraft was repaired in-state.

  • Martinez: NM high school grad rate up seven points

    RIO RANCHO (AP) — New Mexico’s four-year high school graduation rate jumped to 70 percent just a year after federal data showed the state’s 63 percent rate was one of the worst in the nation, Gov. Susana Martinez announced Thursday.

    Speaking in front of students from Rio Rancho High School, Martinez called the seven-point spike a “mile marker” and said the improvement in just a year’s time was evidence that New Mexico schools could provide the needed services to help students graduate.

    “While we have a long way to go ... I do believe the schools all across our state have taken on the challenge of keeping our young people in high school,” Martinez said. “And I think our students are responding well to the high expectations.”

    Martinez said the state’s “A through F” grading system paired with preventative measures helped schools improve student achievement.

    In addition to an overall graduation rate spike, state officials reported that graduate rates also increased for Latino and American Indian students and students with disabilities. For example, Latino students had a graduation rate of 68 percent, an eight point jump from 2011. Meanwhile, Native American students saw a graduation rate of 65 percent and a nine point increase.