When a bank develops a good market share and begins making healthy profits, they look for additional markets or expand in their own market. They do this by opening branches to make it convenient for their customers and as a way of spending excess capital instead of paying taxes on it. We’ve seen that here in Estes Park with First National Bank. Being successful they opened a branch office on Hwy 7. Good move for them and a good move for their customers.
Other examples are also in Estes Park. If a bank feels that they have grown all they can, they simply sell to a competing bank as United did to WestStar, where economies of scale make that a profitable proposal and the customers benefit by having additional services. In fact, WestStar will now become USBank and that should benefit customers as well.
This is how the economy works, even in Estes Park.
Now comes the pitiful CVB, an enterprise developed by the statutory town with no voter approval and with a budget they can neither afford nor maintain. In fact, the original price of the project was to be $1.2 million, but it escalated to more than $2 million. Then they staffed it with an additional overhead of over $600,000. Of course they first had to make it a blight area so they could use some good old EPURA funds. It’s amazing that the people in this town allow it. Have you ever heard of tar and feathers? That guy in Granby looks more and more like a patriot.
Is that the end of it? If you remember the first examples you’ll see that it is not. They have decided to branch out and have dumped a crappy little Tuff Shed in Bond Park. Again, did you ask for it? Are they trying to grow their business? Expand to another market? Hell no! These enterprises cost the taxpayers about $3 million dollars a year, more than most towns’ total budgets. What do the voters do? Duh! Nada.
