Business file for Feb. 24
February 24, 2008
Barney named TIC general counsel
Longtime Steamboat Springs resident and attorney Patrick Barney was named general counsel for locally based heavy industrial contractor TIC Holdings. Barney succeeded Colin Reid, who resigned from the post to join Sherman and Howard, a Denver law firm.
Barney was a partner at the Steamboat law firm of Sharp and Barney before joining TIC in 2001. He is a graduate of the University of Utah and Stanford University Law School. Before his new appointment, Barney served as senior counsel in TIC’s Legal Department. He has represented the company in many of its corporate and commercial business dealings, including the acquisition of Gulf States, resolution of environmental matters and negotiation of the company’s working capital agreements.
TICH is the holding company for TIC, its subsidiaries and Western Summit Contractors, a Denver-based water and wastewater contractor. The company employs 9,000 people throughout the world.
Mountain Resorts’ Spillane retires
Jim Spillane has retired as the president of Mountain Resorts, after holding the position for more than a decade since the company was purchased by Andy Van Baak of Resort Group in 1997.
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Steve Frasier, formerly senior vice president of Mountain Resorts, will replace Spillane as president, effective immediately. Frasier joined the Mountain Resorts team in 1998.
Frasier came to Mountain Resorts with years of experience in the hospitality industry, including positions with The Resort at Squaw Creek in Squaw Valley, Calif.; the Hotel Nikko Chicago; and properties in Scottsdale, Ariz. Frasier holds a bachelor’s degree from Florida State University.
Mountain Resorts is a division of Steamboat Springs-based Resort Group, whose local interests included Pioneer Ridge Management, Colorado Resort Services, Colorado Commercial Services, Steamboat Association Management, MR Realty and the Hotel Bristol. Mountain Resorts manages 25 homeowners associations that represent about 1,100 condominiums and private homes.
J.C. Penney 4th quarter profits fall 10 percent
the associated press
J.C. Penney announced Thursday its fourth-quarter profit fell 10 percent as its middle-class customers struggled with a weakening economy, and the department store retailer predicted modest earnings this year.
Chairman and Chief Executive Myron E. Ullman III said there were no signs consumer spending would rebound quickly, so the company was planning “for a difficult economic climate.”
For example, the company expects to open 36 stores this year, down from the original plan of 50.