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Average commute time: 23 minutes in Colorado
Denver Business Journal
This news isn't believable if you're stuck in a traffic jam on I-25, but the average Coloradan takes 23.4 minutes to get to work, according to the U.S. Census Bureau.
That's below the national average of 24.3 minutes. The information was released in the Census Bureau's 2000 Supplementary Survey.
In Denver, the average travel time to work is 25.2 minutes. The two other Colorado cities surveyed by the census were Colorado Springs (19.9 minutes) and Aurora (25 minutes).
The quickest travel time to work in the U.S. is in Wichita, Kan., where it takes a scant 16.9 minutes to get to work. The longest is in New York City, where it takes an average of 39 minutes to get to work, followed by Chicago at 33.1 minutes.
Unemployment rate jumps
The state unemployment rate increased to 4.2 percent last month; that's up 0.5 of a percentage point from the previous month.
In October 2000, the state unemployment rate was 2.7 percent. Nationally the unemployment rate for October was 5.4 percent.
The state Department of Labor and Employment estimates there were 99,300 people out of work last month, up 12,200 from the previous month. Last year, there were 61,100 people out of work in October.
Webb might get delisted
Denver-based Webb Interactive Services Inc. (Nasdaq: WEBB) said it has received notification from the Nasdaq stock exchange that it's in danger of being delisted from the exchange.
The company received a Nasdaq staff determination, saying that Webb Interactive "fails to comply with the net tangible assets requirement for continued listing."
Webb Interactive officials said they intend to appeal and have requested a hearing before a Nasdaq listing qualifications panel to review the staff determination. Webb Interactive's shares will continue trading until the panel makes a decision, which should take place within a month and a half.
Genomica to be sold
Boulder-based Genomica Corp. (Nasdaq: GNOM), which makes pharmaceutical and biotechnological-related software, is being acquired by Exelixis of San Francisco for $110 million.
The deal, which has been approved by the boards of both companies, is expected to be completed by the end of the year.
Last month, Genomica slashed its 150-person work force by 100, including 90 in Boulder.
A battle for Normandy
It appears that Denver-based Newmont Mining Corp. and South African AngloGold Ltd. will get into a bidding war for Australia's Normandy Mining Ltd.
In September, AngloGold, the world's largest gold producer, bid $1.7 billion for Normandy, but that bid was rejected by Normandy in the wake of Newmont's recent bid of $2 billion for the company.
Newmont also wants to buy Toronto-based Franco-Nevada Mining Corp. in a total deal for both companies at $4.4 billion.
If both deals go through -- the boards of all three companies have given their approval -- Newmont would be the world's largest gold producer with 97 million ounces in total reserves and 8 million ounces in production a year.
We're a smart state
The percentage of Coloradans with a bachelor's degree or higher is one of the highest in the U.S. -- 33.2 percent -- the fourth-highest in the country, according to statistics released by the U.S. Census Bureau.
The national average is 25.1 percent.
Locally, the percentage of Denver residents with degrees is even higher, at 35.6 percent. That compares with Colorado Springs (35.2 percent) and the city of Aurora (22.8 percent), the other two Colorado cities in the Census survey.
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