Biz to biz
New stores ribbon cutting ceremonies at The Outlets at SilverthorneToday at 1 p.m., two ribbon cutting ceremonies for the new VanHeusen and Geoffrey Beene stores will take place in the Red Village. The ribbon cutting ceremonies will begin at the VanHeusen store located in Unit 135-A1, between the Pendleton and Zales stores, followed by another ceremony at Geoffrey Beene located in Unit 145-G, next to the Bath & Body Works store. Following the ribbon cutting ceremonies, cake and beverages will be served in the courtyard area outside the two stores in the Red Village.For more information about the new stores at the Outlets at Silverthorne, please visit the stores website: http://www.pvh.com.Summit County Business Barometer reflects slowdown in national economy The first quarter indicators for the Summit County Business Barometer registered declines in every category and increased inflationary pressures. The current activity index stood at 3.11 down from 3.39 in the 4th quarter of 2007. Respondents to the survey are anonymous and identified only by the category of business they represent. A scale of 1 (lowest activity) to 5 (highest activity) is used to tabulate the results.Another component of the survey, the business outlook indicator, is intended to offer a local view of consumer confidence over the upcoming twelve months. The first quarter reading of 3.64 compares to the 2007 year end reading of 4.11. The Summit County Business Barometer quarterly survey was introduced in early 2006 as a means of monitoring local economic trends and comparing them to state and national statistics. It is designed as a planning and forecasting tool for local business owners and professionals, as well as governmental and private organizations. When compared to recent data at the state and national level, Summit County business activity has actually held up relatively well. The Business Leaders Confidence Index produced by the Leeds Business School at the University of Colorado fell to another record low of 45.1 in the first quarter. Readings below 50 in this index portend further economic weakness in the upcoming quarter. In similar fashion, the national Conference Board Consumer Confidence Index fell to 62.3 in April, which represents a 44% decline since last July. The Consumer Confidence Survey is based on a representative sample of 5000 U.S. households. Inflationary pressures were also evident in the latest Summit County survey 75% of those responding indicated they were paying more for goods and services with an average increase of 8.7% up sharply from 5.8% the prior quarter. The focus question for the latest survey was How often do you drive to Denver each month and for what purpose? Over 45% of those responding said they drove to Denver 1-2 times each month. with 36% stating they went 3-5 times, 12% said 6-8 times, and the balance made at least 9 trips or more. The three most common reasons given for the trips were (1) shopping/events (2) visiting family or friends and (3) business meetings or appointments. The Summit County Business Barometer survey is emailed each quarter to Summit Chamber of Commerce members but is accessible to all Summit County residents via a link on the Summit Daily News website. The survey is sponsored by the Summit Chamber of Commerce in partnership with Edward Jones Investments, the Summit Daily News and J. Boozer and Associates. Comments and suggestions can be directed to the Chamber office at (970) 668-2051 x1 or Mark Nunn in the Edward Jones office in Frisco at (970) 668-3811.
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