143-645: The Rocky Mountain News (nicknamed the Rocky ) was a daily newspaper published in Denver , Colorado, from April 23, 1859, until February 27, 2009. It was owned by the E. W. Scripps Company from 1926 until its closing. As of March 2006, the Monday–Friday circulation was 255,427. From the 1940s until 2009, the newspaper was printed in a tabloid format. Under the leadership of president, publisher, and editor John Temple,
286-456: A broadsheet format to a tabloid design. Foster reasoned that the new format would make it easier for readers to hold and navigate and would make advertising more affordable. Foster's wife, Frances, introduced America's first "advice" column , called Molly Mayfield. It became an instant favorite among readers and was soon adopted in many other newspapers, paving the way for advice columnists such as Ann Landers and Abigail Van Buren . After
429-475: A private equity investor from Texas, contacted Scripps to express interest, that deal fell-through for reasons that included complications of the joint operating agreement. On February 26, 2009, Scripps announced that the Rocky Mountain News would print its final edition the next day, and that the newspaper's masthead, archives, and web site would be offered for sale, separate from its interest in
572-524: A private equity fund . Certain institutional investors have the scale necessary to develop a diversified portfolio of private-equity funds themselves, while others will invest through a fund of funds to allow a portfolio more diversified than one a single investor could construct. Returns on private-equity investments are created through one or a combination of three factors that include: debt repayment or cash accumulation through cash flows from operations, operational improvements that increase earnings over
715-482: A $ 290 million IPO and Simon made approximately $ 66 million. The success of the Gibson Greetings investment attracted the attention of the wider media to the nascent boom in leveraged buyouts. Between 1979 and 1989, it was estimated that there were over 2,000 leveraged buyouts valued in excess of $ 250 million. During the 1980s, constituencies within acquired companies and the media ascribed
858-486: A bank (or other lender). To this, it adds $ 2bn of equity – money from its own partners and from limited partners . With this $ 11bn, it buys all the shares of an underperforming company, XYZ Industrial (after due diligence , i.e. checking the books). It replaces the senior management in XYZ Industrial, with others who set out to streamline it. The workforce is reduced, some assets are sold off, etc. The objective
1001-416: A bid of $ 112, a figure they felt certain would enable them to outflank any response by Kravis's team. KKR's final bid of $ 109, while a lower dollar figure, was ultimately accepted by the board of directors of RJR Nabisco. At $ 31.1 billion of transaction value, RJR Nabisco was by far the largest leveraged buyouts in history. In 2006 and 2007, a number of leveraged buyout transactions were completed that for
1144-441: A broad asset allocation that includes traditional assets (e.g., public equity and bonds ) and other alternative assets (e.g., hedge funds , real estate, commodities ). US, Canadian and European public and private pension schemes have invested in the asset class since the early 1980s to diversify away from their core holdings (public equity and fixed income). Today pension investment in private equity accounts for more than
1287-611: A change of ownership in 2006. Qwest Corporation , founded in Denver in 1911 as Mountain States Telephone & Telegraph Company, is now a part of Lumen Technologies (previously CenturyLink ). On October 31, 1937, Continental Airlines , now United Airlines , moved its headquarters to Stapleton Airport in Denver, Colorado (before United Airlines later moved to its current home in Chicago ). Robert F. Six arranged to have
1430-613: A continued rivalry that almost put both papers out of business, the Rocky and The Post merged operations in 2001 under a joint operating agreement . Through the agreement, the Denver Newspaper Agency was formed. The new company ran all noneditorial operations of both papers, namely advertising and circulation, and was equally owned by the E. W. Scripps Company and by MediaNews Group , which owns The Post . The two newspapers continued to publish separately except during
1573-415: A decade to complete. The E. W. Scripps Company bought the Rocky Mountain News in 1926. The Rocky Mountain News and its competitors, including The Denver Post , resorted to gasoline giveaways and other promotions in an attempt to boost circulation. By the early 1940s, the Rocky had nearly died. It was saved by then editor Jack Foster when he convinced Scripps to approve changing the newspaper from
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#17327724750331716-854: A fine of $ 650 million – at the time, the largest fine ever levied under securities laws. Milken left the firm after his own indictment in March 1989. On 13 February 1990 after being advised by United States Secretary of the Treasury Nicholas F. Brady , the U.S. Securities and Exchange Commission (SEC), the New York Stock Exchange and the Federal Reserve , Drexel Burnham Lambert officially filed for Chapter 11 bankruptcy protection. The combination of decreasing interest rates, loosening lending standards and regulatory changes for publicly traded companies (specifically
1859-502: A form of growth capital investment made into a publicly traded company . PIPE investments are typically made in the form of a convertible or preferred security that is unregistered for a certain period of time. The Registered Direct (RD) is another common financing vehicle used for growth capital. A registered direct is similar to a PIPE, but is instead sold as a registered security. Mezzanine capital refers to subordinated debt or preferred equity securities that often represent
2002-479: A large and active asset class and the private-equity firms, with hundreds of billions of dollars of committed capital from investors are looking to deploy capital in new and different transactions. As a result of the global financial crisis, private equity has become subject to increased regulation in Europe and is now subject, among other things, to rules preventing asset stripping of portfolio companies and requiring
2145-728: A major acquisition without a change of control of the business. Companies that seek growth capital will often do so in order to finance a transformational event in their life cycle. These companies are likely to be more mature than venture capital-funded companies, able to generate revenue and operating profits, but unable to generate sufficient cash to fund major expansions, acquisitions or other investments. Because of this lack of scale, these companies generally can find few alternative conduits to secure capital for growth, so access to growth equity can be critical to pursue necessary facility expansion, sales and marketing initiatives, equipment purchases, and new product development. The primary owner of
2288-568: A manufacturer of insulation and roofing products, relocated its headquarters to Denver from New York in 1972. CH2M Hill , an engineering and construction firm, relocated from Oregon to the Denver Technological Center in 1980. The Ball Corporation sold its glass business in Indiana in the 1990s and moved to suburban Broomfield ; Ball has several operations in greater Denver. Private equity Private equity ( PE )
2431-465: A mixture of crime and poverty of a rapidly growing city. Denver citizens were proud when the rich chose Denver and were thrilled when Horace Tabor , the Leadville mining millionaire, built a business block at 16th and Larimer, as well as the elegant Tabor Grand Opera House. Luxurious hotels, including the much-loved Brown Palace Hotel , soon followed, as well as splendid homes for millionaires, such as
2574-471: A new masthead logo, and different page numbering from the previous design. The redesign was the result of new presses that allowed the newspaper to print about 25% faster than its old presses, at an average speed of 60,000 issues per hour. On December 4, 2008, E. W. Scripps put the News on the market, with industry analysts saying the move was possibly a prelude to shuttering the paper. Although Brian Ferguson,
2717-568: A new venture known as the Rocky Mountain Independent . The new website used a three-pronged revenue strategy: advertising, subscription revenues, and outside contributors. Subscriptions cost $ 4.00 per month and yearly subscriptions were 50% for the first three months, at $ 24. The 12 owners of the website committed to working for free until the end of September 2009. The website stopped publishing new content on October 5, 2009. In December 2014, Denver billionaire Philip Anschutz
2860-429: A notable slowdown in issuance levels in the high yield and leveraged loan markets with few issuers accessing the market. Uncertain market conditions led to a significant widening of yield spreads, which coupled with the typical summer slowdown led many companies and investment banks to put their plans to issue debt on hold until the autumn. However, the expected rebound in the market after 1 May 2007 did not materialize, and
3003-463: A number of the same tactics and target the same type of companies as more traditional leveraged buyouts and in many ways could be considered a forerunner of the later private-equity firms. Posner is often credited with coining the term " leveraged buyout " or "LBO". The leveraged buyout boom of the 1980s was conceived by a number of corporate financiers, most notably Jerome Kohlberg Jr. and later his protégé Henry Kravis . Working for Bear Stearns at
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#17327724750333146-598: A place in the top two in terms of affordability and quality of lifestyle. According to the 2020 United States census , the racial composition of Denver was as follows: Approximately 70.3% of the population (over five years old) spoke only English at home. An additional 23.5% of the population spoke Spanish at home. In terms of ancestry, 31.8% were Hispanic or Latino , 14.6% of the population were of German ancestry, 9.7% were of Irish ancestry, 8.9% were of English ancestry, and 4.0% were of Italian ancestry. There were 250,906 households, of which 23.2% had children under
3289-491: A plan to develop a new on-line, real-time local newspaper, with a staff of about 30 journalists. The plan required 50,000 subscriber pledges before April 23, 2009; if that goal was met, the full website, with the name INDenver Times , would launch on May 4, 2009. On April 23, 2009, INDenver Times , the name for the proposed restart, reported that only 3,000 people had subscribed to the premium content subscription model. The three co-founders said that they did not intend to continue
3432-621: A report in the Journal of the American Medical Association , residents of Denver had a 2014 life expectancy of 80.02 years. The Denver MSA has a gross metropolitan product of $ 157.6 billion in 2010, making it the 18th largest metro economy in the United States. Denver's economy is based partially on its geographic position and its connection to some of the country's major transportation systems. Because Denver
3575-400: A reputation as a ruthless corporate raider after his hostile takeover of TWA in 1985. Many of the corporate raiders were onetime clients of Michael Milken , whose investment banking firm, Drexel Burnham Lambert helped raise blind pools of capital with which corporate raiders could make a legitimate attempt to take over a company and provided high-yield debt ("junk bonds") financing of
3718-619: A revival of the Ku Klux Klan attracted white, native-born Americans who were anxious about the many changes in society. Unlike the earlier organization that was active in the rural South, KKK chapters developed in urban areas of the Midwest and West, including Denver, and into Idaho and Oregon. Corruption and crime also developed in Denver. Between 1880 and 1895, the city underwent a huge rise in corruption, as crime bosses, such as Soapy Smith , worked side by side with elected officials and
3861-482: A stand-alone entity, or as add-on / tuck-in / bolt-on acquisitions , which would include companies with insufficient scale or other deficits. Leveraged buyouts involve a financial sponsor agreeing to an acquisition without itself committing all the capital required for the acquisition. To do this, the financial sponsor will raise acquisition debt, which looks to the cash flows of the acquisition target to make interest and principal payments. Acquisition debt in an LBO
4004-399: A third of all monies allocated to the asset class , ahead of other institutional investors such as insurance companies, endowments, and sovereign wealth funds. Most institutional investors do not invest directly in privately held companies , lacking the expertise and resources necessary to structure and monitor the investment. Instead, institutional investors will invest indirectly through
4147-482: A total of $ 748 billion in 2018. Thus, given the abundance of private capital available, companies no longer require public markets for sufficient funding. Benefits may include avoiding the cost of an IPO, maintaining more control of the company, and having the 'legroom' to think long-term rather than focus on short-term or quarterly figures. A new phenomenon in the Twenties are regulated platforms which fractionalise
4290-406: A transaction in which a company, business unit, or business asset is acquired from the current shareholders typically with the use of financial leverage . The companies involved in these transactions are typically mature and generate operating cash flows . Private-equity firms view target companies as either Platform companies, which have sufficient scale and a successful business model to act as
4433-432: Is stock in a private company that does not offer stock to the general public. In the field of finance , private equity is offered instead to specialized investment funds and limited partnerships that take an active role in the management and structuring of the companies. In casual usage, "private equity" can refer to these investment firms, rather than the companies in which that they invest. Private-equity capital
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4576-435: Is at Denver International Airport, roughly 20 miles (32 km) from downtown. A 2019 analysis showed the average temperature at Denver International Airport, 50.2 °F (10 °C), was significantly cooler than downtown, 53.0 °F (12 °C). Many of the suburbs also have warmer temperatures and there is controversy regarding the location of the official temperature readings. See or edit raw graph data . As of
4719-404: Is invested into a target company either by an investment management company ( private equity firm ), a venture capital fund, or an angel investor ; each category of investor has specific financial goals, management preferences, and investment strategies for profiting from their investments. Private equity provides working capital to the target company to finance the expansion of the company with
4862-478: Is large throughout the year. Tornadoes are rare west of the I-25 corridor; one notable exception was an F3 tornado that struck 4.4 miles (7.1 km) south of downtown on June 15, 1988. On the other hand, the suburbs east of Denver and the city's east-northeastern extension ( Denver International Airport ) can see a few tornadoes, often weak landspout tornadoes, each spring and summer, especially during June, with
5005-418: Is often non-recourse to the financial sponsor and has no claim on other investments managed by the financial sponsor. Therefore, an LBO transaction's financial structure is particularly attractive to a fund's limited partners, allowing them the benefits of leverage, but limiting the degree of recourse of that leverage. This kind of financing structure leverage benefits an LBO's financial sponsor in two ways: (1)
5148-602: Is often most closely associated with fast-growing technology , healthcare and biotechnology fields, venture funding has been used for other more traditional businesses. Investors generally commit to venture capital funds as part of a wider diversified private-equity portfolio , but also to pursue the larger returns the strategy has the potential to offer. However, venture capital funds have produced lower returns for investors over recent years compared to other private-equity fund types, particularly buyout. The category of distressed securities comprises financial strategies for
5291-724: Is surrounded by three other counties: Adams County to the north and east, Arapahoe County to the south and east, and Jefferson County to the west. Denver's nickname is the "Mile-High City", as its official elevation is one mile (5,280 ft; 1,609 m) above sea level, defined by the elevation of the spot of a benchmark on the steps of the State Capitol building. The elevation of the entire city ranges from 5,130 to 5,690 feet (1,560 to 1,730 m). The City and County of Denver has 78 official neighborhoods used for planning and administration. The system of neighborhood boundaries and names dates to 1970 when city planners divided
5434-610: Is the economic and cultural center of the broader Front Range Urban Corridor , home to more than 5 million people. Denver's downtown district lies about 12 miles (19 kilometers) east of the foothills of the Rocky Mountains. Named after James W. Denver , the governor of the Kansas Territory at the time, Denver was founded at the confluence of Cherry Creek and the South Platte River in 1858 during
5577-617: Is the largest city within 500 miles (800 km), it has become a natural location for storage and distribution of goods and services to the Mountain States , Southwest states , as well as all western states . Another benefit for distribution is that Denver is nearly equidistant from large cities of the Midwest , such as Chicago and St. Louis and some large cities of the West Coast , such as Los Angeles and San Francisco. Over
5720-406: Is to increase the valuation of the company for an early sale. The stock market is experiencing a bull market , and XYZ Industrial is sold two years after the buy-out for $ 13bn, yielding a profit of $ 2bn. The original loan can now be paid off with interest of, say, $ 0.5bn. The remaining profit of $ 1.5bn is shared among the partners. Taxation of such gains is at the capital gains tax rates , which in
5863-480: The 18th most populous U.S. metropolitan area . Denver is the most populous city within a radius centered in the city and of 550-mile (890 km) magnitude. Denverites is a term used for residents of Denver. According to the 2020 census, the City and County of Denver contained 715,522 people and 301,501 households. The population density was 3,922.6 inhabitants per square mile (1,514.5 inhabitants/km ) including
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6006-468: The 1976 Winter Olympics to coincide with Colorado's centennial celebration, but in November 1972, Colorado voters struck down ballot initiatives allocating public funds to pay for the high costs of the games. They were moved to Innsbruck , Austria. The notoriety of being the only city ever to decline to host an Olympiad after being selected has made subsequent bids difficult. The movement against hosting
6149-436: The 2020 census , the population of the City and County of Denver was 715,522, making it the 19th most populous U.S. city . The Denver–Aurora–Lakewood, CO Metropolitan Statistical Area had an estimated 2013 population of 2,697,476 and ranked as the 21st most populous U.S. metropolitan statistical area , and the larger Denver–Aurora–Boulder Combined Statistical Area had an estimated 2013 population of 3,277,309 and ranked as
6292-717: The Carnegie Steel Company using private equity. Modern era private equity, however, is credited to Georges Doriot , the "father of venture capitalism" with the founding of ARDC and founder of INSEAD , with capital raised from institutional investors, to encourage private sector investments in businesses run by soldiers who were returning from World War II. ARDC is credited with the first major venture capital success story when its 1957 investment of $ 70,000 in Digital Equipment Corporation (DEC) would be valued at over $ 355 million after
6435-590: The Central Park neighborhood. MediaNews Group purchased the Denver Post in 1987; the company is based in Denver. The Gates Corporation , the world's largest producer of automotive belts and hoses, was established in S. Denver in 1919. Russell Stover Candies made its first chocolate candy in Denver in 1923, but moved to Kansas City in 1969. The original Frontier Airlines began operations at Denver's old Stapleton International Airport in 1950; Frontier
6578-615: The Colorado Territory was created, Arapahoe County was formed on November 1, 1861, and Denver City was incorporated on November 7, 1861. Denver City served as the Arapahoe County Seat from 1861 until consolidation in 1902. In 1867, Denver City became the acting territorial capital , and in 1881 was chosen as the permanent state capital in a statewide ballot . With its newfound importance, Denver City shortened its name to Denver. On August 1, 1876, Colorado
6721-636: The Five Points neighborhood; Alamo Placita , the northern part of the Speer neighborhood ; Park Hill , a successful example of intentional racial integration; and Golden Triangle , in the Civic Center. One of Denver's newer neighborhoods was built on the site of Stapleton International Airport , named after former Denver mayor Benjamin F. Stapleton , a member of the Ku Klux Klan. In 2020,
6864-654: The Front Range of the Rocky Mountains . With a population of 715,522 as of the 2020 census , a 19.22% increase since 2010 , Denver is the 19th most populous city in the United States and the fifth most populous state capital. It is the principal city of the Denver–Aurora–Lakewood metropolitan statistical area , with almost 3 million people the most populous metropolitan area in Colorado. Denver
7007-486: The High Plains , at the foot of the Rocky Mountains , the region can be subject to sudden changes in weather. July is the warmest month, with an average high temperature of 89.9 °F (32.2 °C). Summers range from warm to hot with occasional, sometimes severe, afternoon thunderstorms and high temperatures reaching 90 °F (32 °C) on 38 days annually, and occasionally 100 °F (38 °C). December,
7150-667: The North Platte River in present-day Wyoming and Nebraska southward to the Arkansas River in present-day Colorado and Kansas . This definition specifically encompasses the land of modern Metropolitan Denver. But the discovery in November 1858 of gold in the Rocky Mountains in Colorado (then part of the western Kansas Territory ) brought on a gold rush and a consequent flood of white immigration across Cheyenne and Arapaho lands. Colorado territorial officials pressured federal authorities to redefine and reduce
7293-562: The Pulitzer Prize for Feature Photography the same year for his photos in the same special report. Denver Denver ( / ˈ d ɛ n v ər / DEN -vər ) is a consolidated city and county , the capital , and most populous city of the U.S. state of Colorado . It is located in the western United States , in the South Platte River Valley on the western edge of the High Plains due east of
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#17327724750337436-495: The Rocky Mountain News had won four Pulitzer Prizes since 2000. Most recently in 2006, the newspaper won two Pulitzers, in Feature Writing and Feature Photography . The paper's final issue appeared on Friday, February 27, 2009, less than two months shy of its 150th anniversary. Its demise left Denver a one-newspaper town, with The Denver Post as the sole remaining large-circulation daily. The Rocky Mountain News
7579-449: The Rocky Mountains to the west and the High Plains to the east. Its topography consists of plains in the city center with hilly areas to the north, west, and south. It is the only state capital in the United States that is a consolidated city-county. At the 2020 United States census , the City and County of Denver had an area of 99,025 acres (400.739 km ), including 1,057 acres (4.276 km ) of water. The City and County of Denver
7722-622: The Sarbanes–Oxley Act ) would set the stage for the largest boom private equity had seen. Marked by the buyout of Dex Media in 2002, large multibillion-dollar U.S. buyouts could once again obtain significant high yield debt financing and larger transactions could be completed. By 2004 and 2005, major buyouts were once again becoming common, including the acquisitions of Toys "R" Us , The Hertz Corporation , Metro-Goldwyn-Mayer and SunGard in 2005. As 2006 began, new "largest buyout" records were set and surpassed several times with nine of
7865-415: The continental United States . In fact, Denver has had three of the top 10 costliest hailstorms in U.S. history, on July 11, 1990; July 20, 2009; and May 8, 2017. Based on 30-year averages obtained from NOAA 's National Climatic Data Center for the months of December, January and February, Weather Channel ranked Denver the 18th-coldest major U.S. city as of 2014 . Denver's official weather station
8008-431: The leveraged buyout of financially weak companies. Evaluations of the returns of private equity are mixed: some find that it outperforms public equity, but others find otherwise. Some key features of private equity investment include: The strategies private-equity firms may use are as follows, leveraged buyout being the most common. Leveraged buyout (LBO) refers to a strategy of making equity investments as part of
8151-532: The " corporate raid " label to many private-equity investments, particularly those that featured a hostile takeover of the company, perceived asset stripping , major layoffs or other significant corporate restructuring activities. Among the most notable investors to be labeled corporate raiders in the 1980s included Carl Icahn , Victor Posner , Nelson Peltz , Robert M. Bass , T. Boone Pickens , Harold Clark Simmons , Kirk Kerkorian , Sir James Goldsmith , Saul Steinberg and Asher Edelman . Carl Icahn developed
8294-400: The 12-county Denver–Aurora, CO Combined Statistical Area had a population of 3,623,560 at the 2020 United States census , Denver functions as the principal city of the 18-county Front Range Urban Corridor , an oblong urban region stretching across Colorado and Wyoming with a population of 5,055,344 at the 2020 U.S. census. Regarded for its sunny weather and access to nature, Denver was named
8437-425: The 1920s. As of 2010 , 72.28% (386,815) of Denver residents aged five and older spoke only English at home, while 21.42% (114,635) spoke Spanish, 0.85% (4,550) Vietnamese, 0.57% (3,073) African languages, 0.53% (2,845) Russian, 0.50% (2,681) Chinese, 0.47% (2,527) French, and 0.46% (2,465) German. In total, 27.72% (148,335) of Denver's population aged five and older spoke a language other than English. According to
8580-648: The 1986 buyout of the Revco drug stores, Walter Industries, FEB Trucking and Eaton Leonard. Additionally, the RJR Nabisco deal was showing signs of strain, leading to a recapitalization in 1990 that involved the contribution of $ 1.7 billion of new equity from KKR. In the end, KKR lost $ 700 million on RJR. Drexel reached an agreement with the government in which it pleaded nolo contendere (no contest) to six felonies – three counts of stock parking and three counts of stock manipulation . It also agreed to pay
8723-486: The 20th century. Many African Americans first came as workers on the railroad, which had a terminus in Denver, and began to settle there. Between the 1880s and 1930s, Denver's floriculture industry developed and thrived. This period became known locally as the Carnation Gold Rush . A bill proposing a state constitutional amendment to allow home rule for Denver and other municipalities was introduced in
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#17327724750338866-557: The Area Planning process. Denver also has a number of colloquial neighborhood names and boundaries reflecting how people in an area, or others such as community groups and real estate developers, have defined areas. Well-known non-administrative neighborhoods include the historic and trendy LoDo (short for "Lower Downtown"), part of the city's Union Station neighborhood ; Uptown, straddling North Capitol Hill and City Park West ; Curtis Park and RiNo ("River North"), both part of
9009-508: The Colorado Springs Gazette in 2020, which publishes material from the Rocky Mountain News archives daily. In 2000, the Rocky Mountain News photo staff was awarded the Pulitzer Prize for Breaking News Photography "for its powerful collection of emotional images taken after the student shootings at Columbine High School ." In 2002, the paper won more first-place awards than any other Western newspaper. In 2003,
9152-497: The Croke, Patterson, Campbell Mansion at 11th and Pennsylvania and the now-demolished Moffat Mansion at 8th and Grant. Intent on transforming Denver into one of the world's great cities, leaders wooed industry and attracted laborers to work in these factories. Soon, in addition to the elite and a large middle class, Denver had a growing population of immigrant German, Italian, and Chinese laborers, soon followed by African Americans from
9295-615: The Deep South and Hispanic workers. The influx of the new residents strained available housing. In addition, the Silver Crash of 1893 unsettled political, social, and economic balances. Competition among the different ethnic groups was often expressed as bigotry, and social tensions gave rise to the Red Scare . Americans were suspicious of immigrants, who were sometimes allied with socialist and labor union causes. After World War I,
9438-721: The Denver metropolitan area with a network operation of 25 kV 60 Hz. Denver has been known historically as the Queen City of the Plains and the Queen City of the West , because of its important role in the agricultural industry of the High Plains region in eastern Colorado and along the foothills of the Colorado Front Range . Denver is in the center of the Front Range Urban Corridor , between
9581-659: The Gold Rush era. Nicknamed the "Mile High City" because its official elevation is exactly one mile (5280 feet or 1609.344 meters) above sea level, Denver grew beyond its prospecting origins to become the principal commercial and transportation hub for a broad region spanning the Great Plains and Rocky Mountain West. The 105th meridian west of Greenwich , the longitudinal reference for the Mountain Time Zone , passes directly through Denver Union Station . As
9724-533: The Leavenworth & Pike's Peak Express in order to secure the region's first overland wagon route. Offering daily service for "passengers, mail, freight, and gold", the Express reached Denver on a trail that trimmed westward travel time from twelve days to six. In 1863, Western Union furthered Denver's dominance of the region by choosing the city for its regional terminus. On February 18, 1861, six chiefs of
9867-583: The Pulitzer Prize for Breaking News Photography was awarded to the Rocky Mountain News photography staff "for its powerful, imaginative coverage of Colorado's raging forest fires." The paper also won the Colorado Press Association 's General Excellence Award, the award for the best large daily newspaper in Colorado (for the eighth year in a row). The photo and design staffs won 25 Society for News Design awards, placed eighth in
10010-645: The Southern Cheyenne and four of the Arapaho signed the Treaty of Fort Wise with the United States at Bent's New Fort at Big Timbers near what is now Lamar, Colorado . They ceded more than 90 percent of the lands designated for them by the Fort Laramie Treaty, including the area of modern Denver. Some Cheyennes opposed to the treaty, saying that it had been signed by a small minority of
10153-672: The Strategic Transportation Plan. Denver has hosted the Democratic National Convention twice, in 1908 and 2008 . It promoted the city on the national, political, and socioeconomic stage. On August 10–15, 1993, Denver hosted the Catholic Church's 6th World Youth Day , which was attended by an estimated 500,000, making it the largest gathering in Colorado history. In 2015, a new commuter railway system commenced operations in
10296-460: The US private-equity industry were planted in 1946 with the founding of two venture capital firms: American Research and Development Corporation (ARDC) and J.H. Whitney & Company . Before World War II, venture capital investments (originally known as "development capital") were primarily the domain of wealthy individuals and families. In 1901 J.P. Morgan arguably managed the first leveraged buyout of
10439-484: The United States are lower than ordinary income tax rates. Note that part of that profit results from turning the company around, and part results from the general increase in share prices in a buoyant stock market, the latter often being the greater component. Notes: Growth capital refers to equity investments, most often minority investments, in relatively mature companies that are looking for capital to expand or restructure operations, enter new markets or finance
10582-529: The age of 18 living with them, 34.7% were married couples living together, 10.8% had a female householder with no husband present, and 50.1% were non-families. 39.3% of all households were made up of individuals, and 9.4% had someone living alone who was 65 years of age or older. The average household size was 2.27, and the average family size was 3.14. Age distribution was 22.0% under the age of 18, 10.7% from 18 to 24, 36.1% from 25 to 44, 20.0% from 45 to 64, and 11.3% who were 65 years of age or older. The median age
10725-471: The airport. There were 338.341 housing units at an average density of 1,751 units per square mile (676 units/km ). However, the average density throughout most Denver neighborhoods tends to be higher. Without the 80249 zip code (47.3 sq mi, 8,407 residents) near the airport, the average density increases to around 5,470 per square mile. Denver, Colorado, is at the top of the list of 2017 Best Places to Live, according to U.S. News & World Report , landing
10868-548: The asset class, to invest in private equity from older vintages than would otherwise be available to them. Secondaries also typically experience a different cash flow profile, diminishing the j-curve effect of investing in new private-equity funds. Often investments in secondaries are made through third-party fund vehicle, structured similar to a fund of funds although many large institutional investors have purchased private-equity fund interests through secondary transactions. Sellers of private-equity fund investments sell not only
11011-634: The assets making investment sizes of $ 10,000 or less possible. Although the capital for private equity originally came from individual investors or corporations, in the 1970s, private equity became an asset class in which various institutional investors allocated capital in the hopes of achieving risk-adjusted returns that exceed those possible in the public equity markets . In the 1980s, insurers were major private-equity investors. Later, public pension funds and university and other endowments became more significant sources of capital. For most institutional investors, private-equity investments are made as part of
11154-519: The best place to live in the United States by U.S. News & World Report in 2016. The greater Denver area was inhabited by several Indigenous peoples such as Apaches , Utes , Cheyennes , Comanches , and Arapahoes . By the terms of the 1851 Treaty of Fort Laramie between the United States and various tribes including the Cheyenne and Arapaho, the United States unilaterally defined and recognized Cheyenne and Arapaho territory as ranging from
11297-512: The broadcasting assets of McGraw Hill , which included ABC affiliate KMGH-TV . At the time, the Federal Communications Commission prohibited cross-ownership of newspapers and TV stations in the same market, meaning Scripps would have either been forced to sell the Rocky Mountain News or KMGH-TV had the company never shuttered the paper. On March 16, 2009, several former Rocky Mountain News staffers announced
11440-409: The buyouts. One of the final major buyouts of the 1980s proved to be its most ambitious and marked both a high-water mark and a sign of the beginning of the end of the boom. In 1989, KKR (Kohlberg Kravis Roberts) closed in on a $ 31.1 billion takeover of RJR Nabisco . It was, at that time and for over 17 years, the largest leveraged buyout in history. The event was chronicled in the book (and later
11583-427: The chiefs without the consent or approval of the rest of the tribe, that the signatories had not understood what they signed, and that they had been bribed to sign by a large distribution of gifts. The territorial government of Colorado, however, claimed the treaty was a "solemn obligation" and considered that those Indians who refused to abide by it were hostile and planning a war. Ten days later, on February 28, 1861,
11726-459: The city into 73 groups of one to four census tracts, called "statistical neighborhoods," most of which are unchanged since then. Unlike some other cities, such as Chicago , Denver does not have official larger area designations. Colloquially, names such as Northside and Westside are still in use, but not well-known. Community planners have recently been using a set of 19 larger areas, all of which are groups of statistical neighborhoods, as part of
11869-516: The coldest month of the year, has an average daily high temperature of 44 °F (6.7 °C). Winters consist of periods of snow and very low temperatures alternating with periods of milder weather due to the warming effect of Chinook winds . In winter, daytime highs occasionally exceed 60 °F (16 °C), but they also often fail to reach 32 °F (0 °C) during periods of cold weather. Occasionally, daytime highs can even fail to rise above 0 °F (−18 °C) due to arctic air masses. On
12012-430: The coldest nights of the year, lows can fall to −10 °F (−23 °C) or below, with the city experiencing a low of −24 °F (−31 °C) on December 22, 2022, with a wind chill of −40 °F (−40 °C). Snowfall is common throughout the late fall, winter and early spring, averaging 53.5 inches (136 cm) for 1981–2010; but in the 2021 winter season, Denver began the month of December without any snowfall for
12155-434: The company may not be willing to take the financial risk alone. By selling part of the company to private equity, the owner can take out some value and share the risk of growth with partners. Capital can also be used to effect a restructuring of a company's balance sheet, particularly to reduce the amount of leverage (or debt) the company has on its balance sheet . A private investment in public equity (PIPE), refer to
12298-405: The company's initial public offering in 1968 (a return of over 5,000 times its investment and an annualized rate of return of 101%). It is commonly noted that the first venture-backed startup is Fairchild Semiconductor , which produced the first commercially practicable integrated circuit, funded in 1959 by what would later become Venrock Associates . The first leveraged buyout may have been
12441-416: The contamination to an increase in birth defects and cancer incidence in central Denver and nearer Rocky Flats. Later studies confirmed many of his findings. Plutonium contamination was still present outside the former plant site as of August 2010 . It presents risks to building the envisioned Jefferson Parkway, which would complete Denver's automotive beltway . In 1970, Denver was selected to host
12584-407: The creek from the existing mining settlement of Auraria, and on the site of the existing townsite of St. Charles. Larimer named the townsite Denver City to curry favor with Kansas Territorial Governor James W. Denver . Larimer hoped the town's name would help it be selected as the county seat of Arapahoe County , but unbeknownst to him, Governor Denver had already resigned from office. The location
12727-460: The development of new products and services, restructuring of operations, management, and formal control and ownership of the company. As a financial product, the private-equity fund is a type of private capital for financing a long-term investment strategy in an illiquid business enterprise. Private equity fund investing has been described by the financial press as the superficial rebranding of investment management companies who specialized in
12870-651: The enhancement of the Denver Convergence Vorticity Zone (DCVZ). The DCVZ, also known as the Denver Cyclone, is a variable vortex of storm-forming air flow usually found north and east of downtown, and which often includes the airport. Heavy weather from the DCVZ can disrupt airport operations. In a study looking at hail events in areas with a population of at least 50,000, Denver was found to be ranked 10th most prone to hail storms in
13013-469: The extent of Indian treaty lands. In the summer of 1858, during the Pike's Peak Gold Rush , a group of gold prospectors from Lawrence, Kansas , established Montana City as a mining town on the banks of the South Platte River in what was then western Kansas Territory , on traditional lands of Cheyenne and Arapaho . This was the first historical settlement in what later became the city of Denver. But
13156-439: The first time in history. The average window for measurable (≥0.1 in or 0.25 cm) snow is October 17 through April 27; however, measurable snowfall has occurred as early as September 4 and as late as June 3. Extremes in temperature range from −29 °F (−34 °C) on January 9, 1875, up to 105 °F (41 °C) as recently as June 28, 2018. Due to the city's high elevation and aridity, diurnal temperature variation
13299-409: The first time surpassed the RJR Nabisco leveraged buyout in terms of nominal purchase price. However, adjusted for inflation, none of the leveraged buyouts of the 2006–2007 period would surpass RJR Nabisco. By the end of the 1980s the excesses of the buyout market were beginning to show, with the bankruptcy of several large buyouts including Robert Campeau 's 1988 buyout of Federated Department Stores ,
13442-476: The formation of Kohlberg Kravis Roberts in that year. In January 1982, former United States Secretary of the Treasury William E. Simon and a group of investors acquired Gibson Greetings , a producer of greeting cards, for $ 80 million, of which only $ 1 million was rumored to have been contributed by the investors. By mid-1983, just sixteen months after the original deal, Gibson completed
13585-510: The games was based largely on environmental issues and was led by State Representative Richard Lamm . He was subsequently elected to three terms (1975–87) as Colorado governor . Denver explored a potential bid for the 2022 Winter Olympics , but no bid was submitted. In 2010, Denver adopted a comprehensive update of its zoning code, which was developed to guide development as envisioned in adopted plans such as Blueprint Denver, Transit Oriented Development Strategic Plan, Greenprint Denver, and
13728-502: The headquarters moved to Denver from El Paso, Texas because Six believed that the airline should have its headquarters in a large city with a potential base of customers. Continental later moved to Houston from Denver, but merged with United Airlines in 2013. Throughout that time, the company held a large employee base in the Denver area, which is home to the United Airlines Flight Training Center in
13871-434: The investments in the fund but also their remaining unfunded commitments to the funds. Other strategies that can be considered private equity or a close adjacent market include: As well as this to compensate for private equities not being traded on the public market, a private-equity secondary market has formed, where private-equity investors purchase securities and assets from other private equity investors. The seeds of
14014-421: The investor only needs to provide a fraction of the capital for the acquisition, and (2) the returns to the investor will be enhanced, as long as the return on assets exceeds the cost of the debt. As a percentage of the purchase price for a leverage buyout target, the amount of debt used to finance a transaction varies according to the financial condition and history of the acquisition target, market conditions,
14157-454: The lack of market confidence prevented deals from pricing. By the end of September, the full extent of the credit situation became obvious as major lenders including Citigroup and UBS AG announced major writedowns due to credit losses. The leveraged finance markets came to a near standstill during a week in 2007. As 2008 began, lending standards tightened and the era of "mega-buyouts" came to an end. Nevertheless, private equity continues to be
14300-577: The launch of startup companies to late stage and growth capital that is often used to fund expansion of existing business that are generating revenue but may not yet be profitable or generating cash flow to fund future growth. Entrepreneurs often develop products and ideas that require substantial capital during the formative stages of their companies' life cycles. Many entrepreneurs do not have sufficient funds to finance projects themselves, and they must, therefore, seek outside financing. The venture capitalist's need to deliver high returns to compensate for
14443-402: The launch of a seed or startup company, early-stage development, or expansion of a business. Venture investment is most often found in the application of new technology, new marketing concepts and new products that do not have a proven track record or stable revenue streams. Venture capital is often sub-divided by the stage of development of the company ranging from early-stage capital used for
14586-487: The legislature in 1901 and passed. The measure called for a statewide referendum, which voters approved in 1902. On December 1 that year, Governor James Orman proclaimed the amendment part of the state's fundamental law. The City and County of Denver came into being on that date and was separated from Arapahoe and Adams counties. From 1953 to 1989, the Rocky Flats Plant , a DOE nuclear weapon facility that
14729-449: The levels that traditional lenders are willing to provide through bank loans. In compensation for the increased risk, mezzanine debt holders require a higher return for their investment than secured or other more senior lenders. Mezzanine securities are often structured with a current income coupon. Venture capital (VC) is a broad subcategory of private equity that refers to equity investments made, typically in less mature companies, for
14872-583: The life of the investment and multiple expansion, selling the business for a higher price than was originally paid. A key component of private equity as an asset class for institutional investors is that investments are typically realized after some period of time, which will vary depending on the investment strategy. Private-equity investment returns are typically realized through one of the following avenues: Large institutional asset owners such as pension funds (with typically long-dated liabilities), insurance companies, sovereign wealth and national reserve funds have
15015-762: The loan debt. Lewis Cullman's acquisition of Orkin Exterminating Company in 1964 is often cited as the first leveraged buyout. Similar to the approach employed in the McLean transaction, the use of publicly traded holding companies as investment vehicles to acquire portfolios of investments in corporate assets was a relatively new trend in the 1960s popularized by the likes of Warren Buffett ( Berkshire Hathaway ) and Victor Posner ( DWG Corporation ) and later adopted by Nelson Peltz ( Triarc ), Saul Steinberg (Reliance Insurance) and Gerry Schwartz ( Onex Corporation ). These investment vehicles would utilize
15158-455: The major banking players of the day, including Morgan Stanley , Goldman Sachs , Salomon Brothers , and Merrill Lynch were actively involved in advising and financing the parties. After Shearson's original bid, KKR quickly introduced a tender offer to obtain RJR Nabisco for $ 90 per share—a price that enabled it to proceed without the approval of RJR Nabisco's management. RJR's management team, working with Shearson and Salomon Brothers, submitted
15301-439: The most junior portion of a company's capital structure that is senior to the company's common equity . This form of financing is often used by private-equity investors to reduce the amount of equity capital required to finance a leveraged buyout or major expansion. Mezzanine capital, which is often used by smaller companies that are unable to access the high yield market , allows such companies to borrow additional capital beyond
15444-493: The most populous metropolitan area in a 560-mile (900 km) radius, Denver is a major cultural hub with a variety of museums and cultural institutions, including the Denver Performing Arts Complex and Denver Art Museum . Denver also has sports teams in all five major professional leagues. While the 10-county Denver–Aurora–Lakewood, CO Metropolitan Statistical Area had a population of 2,963,821 and
15587-466: The movie), Barbarians at the Gate : The Fall of RJR Nabisco . KKR would eventually prevail in acquiring RJR Nabisco at $ 109 per share, marking a dramatic increase from the original announcement that Shearson Lehman Hutton would take RJR Nabisco private at $ 75 per share. A fierce series of negotiations and horse-trading ensued which pitted KKR against Shearson and later Forstmann Little & Co. Many of
15730-646: The neighborhood's community association voted to change the name from Stapleton to Central Park (see more in Politics section below). The Central Park neighborhood itself has 12 "neighborhoods" within its boundaries. Denver features a continental semi-arid climate (Köppen climate classification: BSk ) with generally low humidity and around 3,100 hours of sunshine per year, although humid microclimates can be found nearby depending on exact location. It has four distinct seasons and receives most of its precipitation from April through August. Due to its inland location on
15873-478: The newspaper agency. Following the shutdown of the Rocky , the Post , now the only daily newspaper in Denver, resumed seven-day-a-week publication. A few years later, a study by a Portland State University professor attributed a decline of 30% in civic engagement following the closure of the Rocky . Two years after the shutdown of the Rocky Mountain News , Scripps would re-enter the Denver market when it purchased
16016-474: The newspaper took a stand against corruption and crime in Denver. One of its primary targets was city crime boss Jefferson Randolph Smith, alias "Soapy" Smith . In one crime-fighting campaign, the managing editor, John Arkins, allowed disrespectful comments about Smith's wife and children to be published and Smith assaulted Arkins with a cane, severely injuring the editor. The News continued its crusade to rid Denver of its most celebrated bad man, which took nearly
16159-630: The notification and disclosure of information in connection with buy-out activity. From 2010 to 2014 KKR , Carlyle , Apollo and Ares went public. Starting from 2018 these companies converted from partnerships into corporations with more shareholder rights and the inclusion in stock indices and mutual fund portfolios. But with the increased availability and scope of funding provided by private markets, many companies are staying private simply because they can. McKinsey & Company reports in its Global Private Markets Review 2018 that global private market fundraising increased by $ 28.2 billion from 2017, for
16302-478: The planned business model, and, instead, would create a less-staffed news site, while Steve Foster and several former Rocky Mountain News journalists said that they believed that the original business model of a robustly staffed on-line alternative newspaper could succeed and were looking for new backers. INDenver Times , still on-line as of April 2018, does not use the subscription model, instead depending on advertising for its revenue. As of October 2013,
16445-549: The police to control elections, gambling, and bunco gangs . The city also suffered a depression in 1893 after the crash of silver prices. In 1887, the precursor to the international charity United Way was formed in Denver by local religious leaders, who raised funds and coordinated various charities to help Denver's poor. By 1890, Denver had grown to be the second-largest city west of Omaha, Nebraska . In 1900, whites represented 96.8% of Denver's population. The African American and Hispanic populations increased with migrations of
16588-573: The population and 14.6% of families were below the poverty line. Out of the total population, 25.3% of those under the age of 18 and 13.7% of those 65 and older were living below the poverty line. Denver has one of the largest populations of Mexican-Americans in the entire United States. Approximately one third of the city is Hispanic , with the overwhelming majority of them being of Mexican descent. Many of them speak Spanish at home. English, German, Irish, Swedish, Italian, Polish, Chinese, Japanese, Greek, and Russian immigrants immigrated to Denver by
16731-411: The previous record set in 2000 by 22% and 33% higher than the 2005 fundraising total The following year, despite the onset of turmoil in the credit markets in the summer, saw yet another record year of fundraising with $ 302 billion of investor commitments to 415 funds Among the mega-buyouts completed during the 2006 to 2007 boom were: EQ Office , HCA , Alliance Boots and TXU . In July 2007,
16874-537: The profitable investment of working capital into the corporate equity and the securities of financially weak companies. The investment of private-equity capital into distressed securities is realised with two financial strategies: Moreover, the private-equity investment strategies of hedge funds also include actively trading the loans held and the bonds issued by the financially-weak target companies. Secondary investments refer to investments made in existing private-equity assets. These transactions can involve
17017-428: The prosperity of the young town. The transcontinental railroad passed a daunting 100 miles (160 kilometers) away, but citizens mobilized to build a railroad to connect Denver to it. Spearheaded by visionary leaders, including Territorial Governor John Evans , David Moffat , and Walter Cheesman , fundraising began. Within three days, $ 300,000 had been raised, and citizens were optimistic. Fundraising stalled before enough
17160-504: The purchase by McLean Industries, Inc. of Pan-Atlantic Steamship Company in January 1955 and Waterman Steamship Corporation in May 1955 Under the terms of that transaction, McLean borrowed $ 42 million and raised an additional $ 7 million through an issue of preferred stock . When the deal closed, $ 20 million of Waterman cash and assets were used to retire $ 20 million of
17303-434: The risk of these investments makes venture funding an expensive capital source for companies. Being able to secure financing is critical to any business, whether it is a startup seeking venture capital or a mid-sized firm that needs more cash to grow. Venture capital is most suitable for businesses with large up-front capital requirements which cannot be financed by cheaper alternatives such as debt . Although venture capital
17446-399: The sale of private equity fund interests or portfolios of direct investments in privately held companies through the purchase of these investments from existing institutional investors . By its nature, the private-equity asset class is illiquid, intended to be a long-term investment for buy and hold investors. Secondary investments allow institutional investors, particularly those new to
17589-565: The site faded quickly, and by the summer of 1859 it was abandoned in favor of Auraria (named after the gold-mining town of Auraria, Georgia ) and St. Charles City. On November 22, 1858, General William Larimer and Captain Jonathan Cox, both land speculators from eastern Kansas Territory , placed cottonwood logs to stake a claim on the bluff overlooking the confluence of the South Platte River and Cherry Creek , across
17732-651: The start of the Colorado Gold Rush . Elizabeth "Libby" Byers accompanied the press from Nebraska to Denver and joined her husband as a copublisher and journalist at the paper. That first issue was printed only 20 minutes ahead of its rival, the Cherry Creek Pioneer . The Rocky went from a weekly to a daily newspaper in August 1860, and from an evening to a morning newspaper in July 1870. In 1883,
17875-469: The three Bear Stearns bankers would complete a series of buyouts including Stern Metals (1965), Incom (a division of Rockwood International, 1971), Cobblers Industries (1971), and Boren Clay (1973) as well as Thompson Wire, Eagle Motors and Barrows through their investment in Stern Metals. By 1976, tensions had built up between Bear Stearns and Kohlberg, Kravis and Roberts leading to their departure and
18018-507: The three co-founders Kevin Prebuld, Brad Gray, and Ben Ray, editor Steve Haigh, and contributors Drew Litton and Ed Stein were the only remaining staff from the original venture. The site relies on 15 contributors and six "INSighters". On September 7, 2009, INDT.com unveiled a new website design, allowing readers to read the news in a more organized format. On July 4, 2009, Steve Foster and several former Rocky Mountain News employees launched
18161-463: The time, Kohlberg and Kravis along with Kravis' cousin George Roberts began a series of what they described as "bootstrap" investments. Many of these companies lacked a viable or attractive exit for their founders as they were too small to be taken public and the founders were reluctant to sell out to competitors and so a sale to a financial buyer could prove attractive. In the following years
18304-403: The top ten buyouts at the end of 2007 having been announced in an 18-month window from the beginning of 2006 through the middle of 2007. In 2006, private-equity firms bought 654 U.S. companies for $ 375 billion, representing 18 times the level of transactions closed in 2003. Additionally, U.S.-based private-equity firms raised $ 215.4 billion in investor commitments to 322 funds, surpassing
18447-462: The town to merchants and miners, with the intention of creating a major city that would cater to new immigrants. Denver City was a frontier town, with an economy based on servicing local miners with gambling, saloons, livestock, and goods trading. In the early years, land parcels were often traded for grubstakes or gambled away by miners in Auraria. In May 1859, Denver City residents donated 53 lots to
18590-411: The turmoil that had been affecting the mortgage markets , spilled over into the leveraged finance and high-yield debt markets. The markets had been highly robust during the first six months of 2007, with highly issuer friendly developments including PIK and PIK Toggle (interest is " P ayable I n K ind") and covenant light debt widely available to finance large leveraged buyouts. July and August saw
18733-479: The weekends, when the Rocky Mountain News was published only on Saturday and The Denver Post only on Sunday; each newspaper had one page of editorials in the other paper's weekend edition. They maintained their rivalry. The Rocky was considered more politically conservative than the Post . On January 23, 2007, the Rocky Mountain News redesigned the newspaper to a smaller, magazine-style format with more color pages and photographs, full-page photo section covers,
18876-516: The willingness of lenders to extend credit (both to the LBO's financial sponsors and the company to be acquired) as well as the interest costs and the ability of the company to cover those costs. Historically the debt portion of a LBO will range from 60 to 90% of the purchase price. Between 2000 and 2005, debt averaged between 59.4% and 67.9% of total purchase price for LBOs in the United States. A private-equity fund, ABC Capital II, borrows $ 9bn from
19019-543: The world, and won nine National Press Photographers Association awards and six Pictures of the Year International awards. In 2006, Jim Sheeler of the Rocky Mountain News won the Pulitzer Prize for Feature Writing for his "Final Salute" special report, the story of a Marine major assigned to casualty notification and how he helps families with fallen relatives in Iraq cope with their losses. Todd Heisler won
19162-702: The years, the city has been home to other large corporations in the central United States, making Denver a key trade point for the country. Several well-known companies originated in or have relocated to Denver. William Ainsworth opened the Denver Instrument Company in 1895 to make analytical balances for gold assayers. Its factory is now in Arvada . Aimco is headquartered in Denver. Samsonite began in Denver in 1910 as Shwayder Trunk Manufacturing Company, but Samsonite closed its NE Denver factory in 2001, and moved its headquarters to Massachusetts after
19305-741: Was admitted to the Union . This disagreement on the validity of Treaty of Fort Wise escalated to bring about the Colorado War of 1864 and 1865, during which the brutal Sand Creek massacre against Cheyenne and Arapaho peoples occurred. The aftermath of the war was the dissolution of the reservation in Eastern Colorado, the signing of Medicine Lodge Treaty which stipulated that the Cheyenne and Arapaho peoples would be relocated outside of their traditional territory. This treaty term
19448-400: Was 33 years. Overall there were 102.1 males for every 100 females. Due to a skewed sex ratio wherein single men outnumber single women, some protologists had nicknamed the city as Menver . The median household income was $ 45,438, and the median family income was $ 48,195. Males had a median income of $ 36,232 versus $ 33,768 for females. The per capita income for the city was $ 24,101. 19.1% of
19591-523: Was about 15 miles from Denver, produced fissile plutonium " pits " for nuclear warheads . A major fire at the facility in 1957, as well as leakage from nuclear waste stored at the site between 1958 and 1968, resulted in the contamination of some parts of Denver , to varying degrees, with plutonium-239 , a harmful radioactive substance with a half-life of 24,200 years. A 1981 study by the Jefferson County health director, Carl Johnson, linked
19734-497: Was accessible to existing trails and was across the South Platte River from the site of seasonal encampments of the Cheyenne and Arapaho . The site of these first towns is now occupied by Confluence Park near downtown Denver. Edward W. Wynkoop came to Colorado in 1859 and became one of the city's founders. Wynkoop Street in Denver is named after him. Larimer, along with associates in the St. Charles City Land Company, sold parcels in
19877-497: Was achieved, even though the treaty was not legally ratified by the tribal members, as per the treaty's own terms. Thus, by the end of 1860s, this effectively and completely cleared the Denver area of its indigenous inhabitants. Although by the close of the 1860s Denver residents could look with pride at their success establishing a vibrant supply and service center, the decision to route the nation's first transcontinental railroad through Cheyenne City , rather than Denver, threatened
20020-435: Was founded by William N. Byers and John L. Dailey along with Dr. George Monell and Thomas Gibson on April 23, 1859, when present-day Denver was part of the Kansas Territory and before the city of Denver had been incorporated. It became Colorado's oldest newspaper and possibly its longest continuously operated business. Its first issue was printed on a printing press from Omaha, Nebraska , that had been hauled by oxcart during
20163-529: Was raised, forcing these visionary leaders to take control of the debt-ridden railroad. Despite challenges, on June 24, 1870, citizens cheered as the Denver Pacific completed the link to the transcontinental railroad, ushering in a new age of prosperity for Denver. Finally linked to the rest of the nation by rail, Denver prospered as a service and supply center. The young city grew during these years, attracting millionaires with their mansions, as well as
20306-418: Was reincarnated at DIA in 1994. Scott's Liquid Gold, Inc., has been making furniture polish in Denver since 1954. Village Inn restaurants began as a single pancake house in Denver in 1958. Big O Tires , LLC, of Centennial opened its first franchise in 1962 in Denver. The Shane Company sold its first diamond jewelry in 1971 in Denver. In 1973 Re/Max made Denver its headquarters. Johns Manville Corp.,
20449-403: Was reported to be exploring the possibility of reviving the Rocky Mountain News ; he had placed a prototype online and was conducting market research to assess the feasibility of a relaunch. The intellectual property was purchased by Clarity Media Group, Anschutz's newspaper holding company, and the web site posts links to articles from Denver television media. Anschutz launched a Denver edition of
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