Albuquerque Business News - Local Albuquerque News | Albuquerque Business First
Venture capital leaders gather in NM to discuss state of VC
The Coronado Ventures Forum on Thursday brought in eight venture capital funds from around the Southwest to discuss the state of VC in the area. The result? A mixed bag. The group praised New Mexico for having an idea-rich economy and for its recent push by the state to invest in more companies. But the group also hammered the state for not having enough executive horsepower and for being far from the centers of technology development. The ideas the eight had to build up New Mexico?s economy?
Tradesmart now open in former Hastings spot
It?s a new concept for Albuquerque. Kind of. What was once a former Hastings Entertainment store in the Northeast Heights is now a Tradesmart. It?s the first in the city and only the second in the country. The other is in Littleton, Colorado. The 20,000-square-foot store, at 12503 Candelaria Road, just had a grand opening and is up and operating seven days a week. Tradesmart is a subsidiary of Amarillo, Texas-based Hastings, which has a big footprint in the Albuquerque area. It has five massive?
NM small business lending falls in Q2
Small business lending by New Mexico?s 45 locally chartered banks dipped slightly in the second quarter with the largest decrease coming in loans of $100,000 or less. Outstanding small business loans ? $1 million or less ? totaled $1.118 billion as of June, down from $1.122 billion on March 31, according to figures released Thursday by the Federal Deposit Insurance Corp. Loans of $100,000 or less totaled $61.7 million in June, down from $63.8 million in March. Small business lending also?
UNM researchers readying SXSW Place by Design pitch
Two researchers and artists from the University of New Mexico have been invited to pitch their ?T? House design at South By Southwest?s Place By Design Competition. The competition brings cutting-edge designs from seven states and four countries to present their ideas for improving spaces, from floating swimming pools in New York?s rivers to sidewalks that create electricity in Ireland. But Andrea Polli, the Mesa Del Sol Endowed Chair of Digital Media and Director of the Social Media Workgroup?
Behind the Cover Story: Reporter Dennis Domrzalski talks about NM?s emigration problem (Video)
Unfortunately for the economy, New Mexico is experiencing a flight of capital and talent out of the state. In the last three years, the state has had a net outmigration of 9,700 people. Reporter Dennis Domrzalski looked at the root causes of this phenomenon for this week?s cover story and talked to some of the most prominent names that have left the state. After more than a dozen interviews, some themes started to emerge in Domrzalski?s reporting: job opportunities, crime and schools. Entrepreneurs?
Gone for good: why the state's R&D drove one New Mexican to Colorado
This article is the second in a series this week regarding the state?s population loss and why so many professionals are leaving. Read more in our Aug. 29 weekly edition and online . See the first article in our online series here . Randy Burge said he couldn?t live anymore in a place that, for him, lacked economic-development vision and the private-sector research and development muscle to make goods and services people need want and buy. So in September 2012, Burge, who grew up in Aztec?
Exclusive: County manager to Downtown: ?Bring something to us?
It looks like a case of down but not out. Bernalillo County manager Tom Zdunek said Thursday that he recently reached out to Downtown Albuquerque stakeholders to bring him ideas for where the county should move its offices. Zdunek is in the midst of looking at a variety of options for the consolidation of county offices and other operations ? many of which are scattered around Downtown and are in deteriorating buildings. In June, he said chances were slim that the county?s needs could be met?
Net earnings up 19.6 percent in Q2 for New Mexico?s local banks
New Mexico?s locally chartered banks had a good second quarter, with key indicators of the industry?s health moving in positive directions. The 45 banks reported a combined $37.2 million in net earnings in the second quarter, up from $31.1 million in the first quarter, according to figures released Thursday by the Federal Deposit Insurance Corp. The banks? profit margin, or return on assets, rose to 0.83 percent compared to 0.74 percent in the first quarter, and their net interest margin?
Los Alamos ranked as 2nd most-affluent city in America
A new report from American City Business Journals, ABF?s parent organization, found that Los Alamos is the country?s second-most affluent city, and the most affluent small city with a population of less than 100,000. Only Washington, D.C., came ahead of Los Alamos in the national ranking. To determine the rankings, the Business Journals looked at 942 metropolitan and micropolitan areas across the U.S. The report ranked areas based on a variety of factors, such as median household income and?
GDP and corporate profits show an increase
Real gross domestic product increased at an annual rate of 4.2 percent in the second quarter of 2014, according to a revised estimate released by the Commerce Department today. In the first quarter, real GDP decreased 2.1 percent, according to the department. The estimate released today is based on more complete source data than were available for the ?advance? estimate issued last month. In the advance estimate, the increase in real GDP was 4 percent. The department said the rise reflects?