2008 Not Kind to Local Businesses

January 2009
According to the Rocky Mountain News, 2008 marked the highest number of local bankruptcy filings since at least 1999. Between 900 and 950 businesses filed, "from a window company to a casino operator to energy and real estate firms." Even more painful is last year's market value loss for the state's publicly traded companies--a whopping $107 billion. The Denver Post puts the number into perspective: "Colorado corporations lost enough market value to cover the state government's $7.6 billion general fund for the next 14 years. Split that loss among the roughly 5 million people living in the state, and each resident would have to pay $21,320." In a bit of good news, local favorite Chipotle is growing its business into the London market, in what the Rocky Mountain News reports is a first step toward building a European brand.