Business in brief, Jan. 29, 2019
Jackalope store gets a makeover
Questions have abounded about what’s going on with Jackalope at 2820 Cerrillos Road. Is it closing?
No, it’s not. Jackalope owner Harpal Singh explains the 8,400-square-foot store is undergoing a near $500,000 renovation that will update “every inch of space.”
“We are completely remodeling the space to create an inviting and unique shopping experience, where people will want to spend a couple of hours,” Singh said in a news release.
Jackalope, which carries unique pottery, furniture and rugs, has occupied the Mission-style building on Cerrillos for nearly 43 years. It will remain open during construction.
A tenant of Singh’s, Xanadu, will move downtown. Singh is considering various 5,000-square-foot options.
New corporate name for ‘Outside’ magazine
In its earliest days, Santa Fe-based Outside magazine was briefly called Mariah. That name stuck on the corporate level as Mariah Media Network LLC for some 40 years.
The company announced Wednesday that “Mariah” has been dropped and the corporate name now is Outside Integrated Media LLC.
Lawrence Burke remains the company’s chairman and the magazine’s editor-in-chief.
“Our new corporate name reflects the true nature of our business as it has evolved and continues to evolve,” Burke said in a news release. “When Outside was born over 40 years ago, we couldn’t predict the massive reach of the brand and its extension across multiple platforms for both consumer consumption and client marketing campaigns. The new name accurately depicts what we do: content integration.”
Outside magazine is the company flagship, but the company has expanded into several spin-off publications as well as online, television and podcast platforms, plus numerous foreign editions, live consumer events, an adventure travel company and an independent production studio.
U.S. Treasury set to borrow $1 trillion
The U.S. Treasury Department is set to maintain elevated sales of long-term debt to finance the government’s widening budget deficit, with new issuance projected to top $1 trillion for a second-straight year.
Many strategists at primary-dealer firms predict that Wednesday’s quarterly refunding announcement will see the Treasury maintain note and bond sales at the record high levels they have boosted them to in recent months.
The total amount of 3-, 10- and 30-year securities to be offered at next week’s refunding auctions is seen by most at $84 billion. While that’s $1 billion more than the total for these maturities three months ago, that’s only because the size of the three-year sale was already nudged higher in December.
A heightened supply of Treasury securities follows tax cuts and government spending increases implemented under the current administration. That’s darkening a fiscal outlook already made worrisome by rising entitlement-program expenses and higher costs to service America’s nearly $16 trillion in debt.
Staff and wire reports