Wednesday, October 6, 2010

Business Briefs

Coldwell Banker buys Colorado firm

Coldwell Banker Distinctive Properties, based in Ketchum, has acquired Coldwell Banker Silver Oak in Steamboat Springs, Colo. Coldwell Banker Distinctive Properties specializes in the sale, rental and management of luxury real estate, specifically in resort markets.

Coldwell Banker Silver Oak was founded in 1988 and has participated in more than 4,500 real estate sales. 

Mother, daughter open salon

The mother-daughter team of Hayley and Cindy Hinojosa has opened Precision Haircuts at Hayleywood Salon at Fourth Street and Washington Avenue in Ketchum. Cindy has operated a Precision Haircuts in Ketchum and Bellevue for 18 years. Hayley, a 2008 graduate of Wood River High School, graduated in May 2010 from Paul Mitchell Cosmetology School in Portland, Ore.

SV-Ketchum home prices among highest

Coldwell Banker Real Estate's recently released Home Listing Report shows prices of four-bedroom homes in the Sun Valley-Ketchum area averaging $1.6 million, making it one of the most expensive markets in the nation.

The report surveys listings of four-bedroom, two-bathroom homes, and found a $1.7 million difference between America's most expensive and most affordable housing markets. Newport Beach, Calif., led the list of most expensive real estate markets in America, with an average listing price of $1.83 million.  America's most affordable housing market was Detroit, Mich., with an average listing price of $68,000.

"Here in Sun Valley, we are seeing an increase in activity that has consistently followed the signs in primary markets," said Todd Conklin, of Coldwell Banker Distinctive Properties. "Just as we were late coming into the recession, we are proving to be late coming out of it."

Post-recession job vacancy rate low

Nearly a year after the worst recession in generations ended, the number of job vacancies in Idaho is fractional and only one in five is linked to economic growth, according to the Idaho Job Vacancy Survey Report.

Based on a survey of more than 3,400 businesses during April and May, there were only 10,600 job openings across Idaho, which had a total of 590,000 non-farm jobs last spring. That is a statewide vacancy rate of 1.8 percent.

By comparison, Washington had a 2.7 percent vacancy rate in spring 2010, and eastern Washington, which is economically similar to Idaho, had regional vacancy rates ranging from 2 to 2.5 percent.

The Idaho survey found 60 percent of the vacancies involved full-time jobs and 84 percent of the openings had been vacant less than 60 days.

But it also found that only 22 percent of the vacancies involved newly created jobs, meaning the overwhelming majority of job activity earlier this year involved personnel replacement for retirements, deaths or other reasons.

Job vacancies were most likely found in health care, accommodations and food service and retail trade. Three of every four openings required no more than a high school diploma. Only 14 percent required a college degree or more.

Regionally, the highest vacancy rates were in north-central and east-central Idaho at 2.5 percent. The vacancy rate was 1.9 percent in southeastern Idaho, 1.8 percent in the Panhandle, 1.5 percent in southwestern Idaho and 1.4 percent in south-central Idaho.

Rep. Simpson wins business award

Rep. Mike Simpson, R-Idaho, has received the Guardian of Small Business Award by the National Federation of Independent Businesses. The award was presented to members of Congress who showed strong support of small businesses during the 111th Congress.

"I am proud to receive this award, and I want to thank the NFIB for their recognition," Simpson said. "I will continue to work to provide the resources small businesses need to flourish while also pushing back government interference and allow them to make decisions that are good for their companies."

Simpson also received the award in the 110th Congress.

T-N publisher announces retirement

TWIN FALLS, Idaho (AP)—The editor and publisher of the Times-News in Twin Falls says he plans to retire at year's end.

Brad Hurd has worked for Lee Enterprises for 31 years and has been publisher of the Times-News since November 2004. He was named editor last year. He also oversees the Elko Daily Free Press in Elko, Nev.

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