2008 Not Kind to Local Businesses
By January 6, 2009 11:02 AM
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.