NATIONAL

Toyota puts the brakes on rollout of new hybrids

Toyota Motor Corp., which exploited the green image of its gasoline-electric Toyota Prius to propel a U.S. sales surge, has decided to delay by as long as two years the launches of new high-mileage hybrids using lithium-ion battery technology.

The slowdown could offer General Motors Corp. and other rivals a chance to close the gap in the race to define future clean- vehicle technology.

MORTGAGE RATES FALL Rates on 30-year mortgages sank this week to their lowest point in two months.

Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 6.59 percent. That was down from 6.68 percent last week and was the lowest since early June, when rates stood at 6.53 percent.

LOCAL

Judge orders Nacchio to put fine in court account amid appeal

U.S. District Judge Edward Nottingham has ordered former Qwest CEO Joe Nacchio to deposit his $19 million fine into an interest-bearing court account while his case is being appealed.

Nacchio recently was sentenced to six years in federal prison on 19 counts of insider trading.

He also has been ordered to forfeit $52 million of assets in connection with illegal stock sales in April and May 2001. The U.S. Marshal's Office is overseeing those assets, which Nacchio previously agreed to set aside.

MIXED-USE DEVELOPMENT Colorado Springs developer Jannie Richardson said Thursday that she plans a mixed-use development on almost 2 acres near Denver Union Station that would include a $175 million, 14-story office tower.

Plans call for a 632,000- square-foot development with 450,000 square feet of office space, 60,000 to 70,000 square feet of retail and restaurants, and a 110,000-square-foot boutique hotel on the 1.83-acre site at 1601 Wewatta St. she bought from Trillium for $16 million.

SWEET DEBUT Wen Chocolates plans to open its first retail store next month at 1541 Platte St. in downtown Denver.

MOVIE THEATER TO OPEN The Cinemark 16-screen movie -theater at Boulder's Twenty Ninth Street mall is set to open Aug. 17, a year after its originally scheduled opening. The mall, which opened in October, also announced it added OZ Architecture as a tenant to occupy nearly 26,000 square feet.

ECHOSTAR POSTS PROFIT EchoStar Communications Corp., the second-largest U.S. satellite-television service, said second-quarter profit gained 33 percent as subscribers rose 9 percent.

Net income increased to $224.2 million, or 50 cents a share, from $168.8 million, or 38 cents, a year earlier. Sales gained 12 percent to $2.76 billion.

ECONOMY

Slow back-to-school season

The back-to-school shopping season had a disappointing start in July as consumers rattled by a weakening housing market and other financial pressures stayed away from stores and malls.

Wal-Mart Stores Inc. posted a slim gain but warned that its increased discounting is hurting profit margins.

Among the few standouts were J.C. Penney Co. and Costco Wholesale Corp., both of which beat expectations.

According to the International Council of Shopping Centers-UBS preliminary tally of 48 stores, July results were up 2.6 percent, compared with the 3.9 percent gain in the year-ago period.

The July results were in line with the modest 2.3 percent same-store sales pace this fiscal year, which started in February, but are well below the 3.9 percent average in the year-ago period, Mike Niemira, chief economist at ICSC, said.

• The number of newly laid-off people signing up for jobless benefits rose last week, suggesting that employment conditions, while softening a tad, remain good, according to the Labor Department.

THIS JUST IN...

• The University of Colorado and its board of regents appointed Daniel J. Wilkerson as vice president and university counsel.

• The Art Institute of Colorado named Wendy L. Barboza director of administrative and finance services, effective Aug. 20.

• Keith D. Lapuyade, partner at Godfrey & Lapuyade PC, was appointed community service chairman for the Arapahoe County Bar Association.

• The Computing Technology Industry Association gave Arapahoe County- based GenAudio the Company Achievement Award for its innovation in AstoundSound, a product that integrates with consumer applications and provides professional audio- production solutions.

• The Denver Health Foundation added D'Anne DuBois as coordinator of donor communications and database manager; Robin Engleberg as program manager; Candice Jones as special events coordinator; and Lori Leidholm as administrative assistant.

• Sheplers Western Wear has appointed Mark Syrstad as president and chief executive officer.

• The Colorado Chapter of the International Association of Business Communicators elected its board of directors for the 2007-08 term. Kerby Meyers of the Communications Refinery is president; Trina O'Brien, GTC Nutrition, is president-elect; Heather Almand, Financial Planning Association, treasurer; Laura Luchini, Aquarius Design, secretary; Jo Solonika, TeleTech, immediate past president; Michelle Barnes, Pinnacol Assurance, vice president of communications; and Kathleen Eccleston, EngCzech Consulting, vice president of membership.

• The Steadman-Hawkins Clinic added Dhruv B. Pateder. He will work out of the Vail, Breckenridge and Frisco offices.

• Gov. Bill Ritter's Energy Office added energy experts to support his New Energy Economy. The staff includes Angie Fyfe, greening government program manager; Jeff Lyng, commercial/institutional buildings program manager; Jennifer Hampton, communications program associate; Susan Jarvinen, director's administrative assistant and office manager; Morey Wolfson, utilities program manager; Seth Portner, deputy director; Eric Stern, residential buildings program manager; Sean Mandel, program associate, buildings; and Stacey Simms, biofuels and local fuels program manager.

• The city of Centennial named Corri Spiegel economic development manager.

Rocky staff and wire reports

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