Even and Odd Daughters

For any given word (call it the "parent" word), we can designate the string of odd letters (first letter, third letter, fifth letter, .) as the "odd daughter" and the string of even letters (second, fourth, .) as the "even daughter." Occasionally, the even or odd daughter strings form words. In rare cases, both the even and odd daughter strings form words. For instance, for the parent word bluest , the odd and even daughter words are bus and let .

Find a common parent word whose even and odd daughters are both common words, one of them a color term.