Albuquerque Business News - Local Albuquerque News | Albuquerque Business First
UNM joins team bidding to manage Sandia National Labs
One of New Mexico?s biggest employers announced a big move this morning. The University of New Mexico, which has 4,210 employees, announced a plan this morning to bid for management of Sandia National Laboratories, via a partnership with independent research and development group Battelle, and aerospace giant Boeing. The US Department of Energy?s National Nuclear Security Administration has been seeking a new contractor to manage and operate the labs. Sandia handles non-nuclear engineering?
New Mexico ranks among top 20 states for military retirees
New Mexico is one of the better states for military retirees, according to a new study. In WalletHub's 2016?s Best & Worst States for Military Retirees list, New Mexico ranked 17th, ahead of Colorado and Arizona. The research and personal finance website compared the 50 states and the District of Columbia across 20 key metrics ? ranging from job opportunities for veterans to the number of VA health facilities per number of veterans. When it came to health care for military retirees, New Mexico?
New Mexico CEOs' pay climbs higher, according to group
CEO pay continues to climb as salaries for workers remain stagnant, says a union watchdog group. The average New Mexico CEO pay is 100 times higher than the average rank-and-file worker, according to the recent AFL-CIO Executive Pay Watch. The site averaged the compensation of two CEOs with New Mexico ties- PNM Resources' Patricia Collawn ($5,244,221) and Emcore Corp.'s Jeffrey Rittichier ($2,018,346). Emcore moved its headquarters from Albuquerque to California in 2014 after the sale of its space?
Tribune open to talks with Gannett, but says latest bid not enough
Tribune Publishing Co., the parent of the Chicago Tribune, said Monday that it is open to negotiating a deal with Gannett Co. Inc., even as the Tribune rejects the latest takeover bid from the USA Today and Milwaukee Journal Sentinel owner. Chicago-based Tribune Publishing (NYSE: TPUB) said in a press release it is willing to discuss a deal with Gannett behind closed doors through a non-disclosure agreement, under which the parties could engage in due diligence and negotiate a possible transaction.?
Court overturns $1.3B penalty in Bank of America 'Hustle' fraud case
Bank of America Corp. (NYSE: BAC) on Monday notched a major legal win when a U.S. appeals court overturned a $1.27 billion penalty handed down in a high-profile fraud case tied to mortgages sold by its Countrywide unit prior to the financial crisis of 2008. The Wall Street Journal reports the 2nd U.S. Circuit Court of Appeals in New York sided with BofA, which had argued that the federal government failed to provide sufficient proof at trial to establish liability in connection with the practice?
5 things you need to know today, and getting your fix of an NM favorite might have to wait
The weather has just not been cooperating with one of New Mexico's specialties. Also, parking is hard when Donald Trump comes to town. We have the lowdown on all that and much more. The 10 most unusual GRT exemptions Spaceship fuel. Website hosting (hello, 1998). Unregistered motor vehicles. These are just some of the most unusual New Mexico gross receipts tax exemptions reporter Joe Cardillo found (he had more than 100 exemptions to choose from.) GRT is a common topic of debate in the business?
New Mexico named one of the most drone-friendly states
The next time you're admiring a New Mexico sunset, don't be too surprised if you see an unmanned aircraft flying over you. That's because the state was just named one of the three most drone-friendly states in the country by DroneLife.com. When it comes to drones, New Mexico got marks for its tax incentives, available airspace, the state's air force bases and its research labs. Earlier this month Debra Inman, vice president of Albuquerque Economic Development, attended the Association for Unmanned?
Creative Startups poised to go global
When Creative Startups launched in 2014, there was immediate global interest in using its creative accelerator model in other communities, co-founder Alice Loy says. After taking their first year in business to make sure the model would work the way it was intended to, Creative Startups crafted a licensing program that allows other organizations to use the design and expertise of the Albuquerque-based accelerator. For $53,000, an organization receives access to the creative licensing needed to?
Spaceship fuel and beyond: The 10 most unusual exemptions to NM's gross receipts tax
Gross receipts taxes (GRT) are a hot button issue in New Mexico. Business owners and legislators have expressed doubt about how effective or fair the gross receipts tax is. And in a recent reader survey they came up as an item of concern, particularly for small businesses. Regardless of whether tax reform is needed, it?s not hard to argue that accounting for the GRT takes some understanding of detail. Of some 300 or so tax exemptions listed in the 2014 New Mexico Tax Expenditure Report ( PDF?
Ruth's Chris Steak House opens its red doors (slideshow)
After a year of renovations, Ruth's Chris Steak House opens its signature red doors Monday in Uptown Albuquerque. The 10,000-square-foot restaurant, 6640 Indian School Road NE, draws inspiration from both Ruth's Chris New Orleans roots and from Albuquerque, from the hot-air balloon mural to the giant Route 66 postcard painting to the art and pottery created by local artists. Renovating the space, which was formerly a Robert R. Bailey Clothiers, was no small endeavor. The project took about a year?