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Show PAGE 6 ' BUSINESS EDITOR V Local Industry News & Notes V V Gold Silver Per ounce $669.30 -- $0.30 Per ounce $13,664 -- $0,093 Nasdaq S&P500 Final Final Final 13,465.67 -- 129.79 2,587.18 -- 24.05 1,51738 Technology f -- 13.57 Sewing Suits The SCO Group's second quarter net losses narrow Group Inc. said its net losses for its second quarter ended April 30 narrowed to $1.14 million or 5 cents a share, from $4.69 million or 22 cents a share a year ago. The Lindon-basesoftware provider cited lower legal costs and operating expenses. Legal and related costs for the second quarter dropped to $1.07 million from $3.76 million a year ago. Total revenues fell to $6.01 million from $7. 13 million a year ago, due to continued competitive pressures on the Grace leong V Dow Jones SCO I THURSDAY, JUNE 7. 2007 0 gteonghyalclextra.com 344-29- 1 THE DOLLAR EXCHANGING Yen Euro Pound Canadian dollar Mexican peso Wednesday Tuesday 121.01 $1.3506 $1.9928 1.0588 10.8572 121.33 $1.3522 $1.9920 1.0619 10.8080 Economic d growth forecast company's UNIX products and services. "Even though competition continues to impact our revenue, we are pleased that our legal costs and operating expenses are lower than the comparable prior periods which improved our financial results," said Darl McBride, president and CEO. Shares of SCO dropped 4.6 percent or six cents to $1.24 at the close of Wednesday's trading session. Employment center operator to add 500 home-base- d positions d virtual call center opVIPdesk, an Alexandria, erator, is adding up to 500 home-base- d positions in Utah to provide customer support to luxury clothing retailers. Remuneration will be based on previous retail experience and will range between $10 an hour and $22 an hour. VIPdesk provides inbound and outbound customer service, reservations, customer survey execution, fulfillment services Call lowered Va.-base- i Jeannine Aversa and membership registrationsrenewals. Interested applicants can apply online at www.vipdesk. cominfocareersjoinourteam.asp. THE People on the Move Zions Bank promotes officer Zions Bank promoted Nathan Noel to executive banking relationship manager and assistant vice president of the American Fork office at 606 E. State Road. Noel provides specialized service for clients in his executive banking portfolio, offering personalized care in managing and maintaining their banking needs. He was previously a business analyst at the bank and has more than two years of management experience. Bank of American Fork makes management changes Bank of American Fork, which has seven branch offices in Utah County, hired Ken Peck as facilities manager for its American Fork branch. Peck, who has served as a contractor for 36 years, is responsible for overseeing general maintenance and providing technical assistance. Monica Allred was promoted to operations manager for the bank's Highland branch. Allred began her career with the bank in American Fork 1996 where she served as drive-up teller supervisor for eight years and assistant operations manager for two years. CHITOSE SUZUKIAssociated Court: Exxon Mobil must pay for recreation Exxon Mobil must pay New Jersey for NEWARK, N.J. lost recreational opportunities due to contaminated waterfront refineries, a state appeals court ruled Wednesday, reversing an earlier decision by a trial judge. The decision is a setback for Exxon Mobil, which has worked to clean sites in Linden and Bayonne since 1991. When the company balked at a state request to also pay for the loss of recreational opportunities, such as fishing and bird watching, New Jersey sued. Exxon Mobil Corp., of Irving, Texas, is reviewing the decision but had no comment on whether it would appeal, spokeswoman Prem Nair said. Stocks of local Interest Yesterday's performance of selected publicly traded companies COMPANY lASTOUNCi AA AiCOANC ABSY ABSOLUTORY ASX BAMKXCOIOC AE AMtRElKTWCPOWCO 074 0.19 0 0t 274 021 45 78 476 AJG AMERNil GROUP MC 721 AMD ADVMCRO AMGN Amjmhc BAC BK OF BAM SROOKFIELD ' 39K NC NEV SUNSHINE 1703 020 047 000 0J1 000 NUS NUSKMENTINC 4J.JS NWN NORTHWEST 5779 5031 4076 0J1 033 OMTft AMERICA CP KG OrmlkftkiC PGlfC 4.11 PTE PRSRINC 098 057 Q QWEST K RASERTKNNOlOC4ESINC7l 000 SCOX SCOGkmi IX K66 420 1179 494 1(93 402 3491 036 M7I 470 17 J9 480 SOV SCOTTISH SHO SmHrJrJr9Cor)aW77 5t4a2 Si SMITH SKY SV)VW.Inc. SNT0 V STR QUEST AA SY SYBASE t ATSTNC, TGT TARGET TRY THE UM INK UDRK USB USBAMCOR ASSET MGT CRESTED CMCSX ContM Corporation CORP CVX CHEVRON CORP DAL DEUA UNO NEW DS WAIT DNEX DowCorpoiOon WErlrjnnTekfihana AJR C ETR ENTERGY PC FRANTUN I0tl . CP 7tJ COVEY CO GE GENEUCTWCCO W29 HRB HRK0CKMC KMC HwryVhenW. 2)06 5304 DM NTl MAO BUSINESS 1(841 122 000 411 OJ6 OJS 343 2149 447 MelCoparam Atm Corporator. 1071 O0I PENNEY I C CO HOLDM m NORDSTROM IK brolropara MC IUV IHENTllWrSEJ JfJUTHVAIWNES MC MCJESONCORP MIR MICOCMNSTK UVAMt UOl 404 000 W ' 6206 9031 21J4 iMUrdialSyimtxIITB MVT MCowaM) t.TKHNOlOGY 0ttl 470 141 407 000 3029' 429 1224 471 MTYErtnpWtK. MM9 VT Wi t l BO 000 2t 402 ISIS SU7 000 000 424 225 005 10793 2407 MC 40 CP GROUP S3 97 5 Sdma K. 31 61 MXkJ MUl Be H 90 VPB2WCOMMUN 1 12 OJJ 411 M10 &14 S464 402 2949 424 Kit 4292 073 411 009 447 429 41 Ji 447 WtNXmMtlMC HS1 430 412 WBiiMIC0NtWI5 WA1 MART STORO 9071 4U) ICHW NUTRft MTl 61 007 UNTTtDSUTtSSTta I IB 86 .114 WACXMACP WW WK WMt RTJa tat ENERGY Bob Johnson ' the associated press An MONTGOMERY, Ala. elderly woman whose handmade quilts have been acclaimed by the art world and honored on U.S. postage stamps claims in a lawsuit that she was cheated financially by her promoters and corporate clients. Quilter Annie Mae Young, a producer of the distinctive Gee's Bend quilts, accuses William Arnett, an Atlanta art scholar who brought the quilts to a wide audience, of falsely representing the proceeds from enterprises associated with the quilts, according to the lawsuit. Kathy Ireland Worldwide, Shaw Living and Visa also are named as defendants, as are two of Amett's sons and Tinwood Ventures of Atlanta. ' A response filed by attorneys for the Arnetts and Tinwood denies the allegations and says the lawsuit was filed to "harass" and extort money from the defendants. Attorneys for the other three firms could not be reached for comment Wednesday. A clerk at U.S. District Court in Mobile, where the suit was filed, said the firms had not yet been served with the wit. , In recent years, the quilts have been displayed in prestigious museums and were chosen for the U.S. Postal Service's American Treasures stamp series. Their designs also have been produced on rugs that sell for $5,000 each, Visa gift cards and a line of bedsheets by supermodel Kathy Ireland. The lawsuit, filed last week in federal court, seeks a share of the profits from the quirt enterprise for Young. The suit might be expanded to include other quilters in the remote Gee's Bend community, about 60 miles southwest of Montgomery, said Young's attorney, Bill Dawson. "They haven't gotten anything out of it," Dawson said Tuesday when asked about the quilters' share of the extensive marketing of the Gee's Bend brand. The lawsuit says any agreement between the quilters and the defendants was oral and was not put into writing. Tinwood attorney Greg Hawley said Wednesday that he met with many of the quilters in Gee's Bend on Tuesday and that they want to continue to work through the collective established by the Arnetts. "The women feel this lawsuit breaks the bond of the collective and that one artist had decided she needs a larger share than the others," Hawley said. He said some of those quilters have hired Selma attorney Hank Sanders to represent their interests in the case: Sanders, also a state senator, did not immediately return a call to his office seeking comment. See C5 QUILTS, economists expect the economy will rebound in the months ahead. The one wild card, though, is whether the nearly yearlong housing which slump has been a damper on overall economic activity gets worse. "So it is just not quite clear where we are in terms of the housing market, whether it has bottomed out," Edward Lazear, chairman of the White House's Council of Economic Advisers told reporters. The economy grew by 3.1 percent in 2006. The persistence of the housing Dark forecasts The Bush administration projected a drop in economic growth and an increase in unemployment by 2012. Percent change, 04 to 04 Gross Domestic Product 6 1990 '95 '05 '00 Unemployment rate 2010 4.8 4.5- 1990 '95 '00 - 2010 05 Consumer Price Index 8 0 1990 '95 SOURCES: 00 05 2010 Bureau of AP Economic Anttysn; Department or labor slump is a fac- tor behind the economy's projected loss of momentum this year. The White House, however, expects the economy will regain speed and grow by 3. 1 percent a solid performance in 2008 and 2009. Those forecasts are unchanged from previous estimates. Gross domestic product measures the . value of all goods and services produced within the United States. It is the best barometer of the country's economic fitness. Meanwhile, the nation's unemployment rate, which averaged 4.6 percent last year, a low, is expected to dip to 4.5 percent this year under the administration's new forecast. That is slightly better than its old forecast that the unemployment rate would hold steady ? at 4.6 percent. six-ye- I DS 27.59 CP UibwvCo X Ber-nank- e, K79 449 10 IS 405 (The) PWR PIC UNRHMEAlTM UTMD 4J MC TRAVElflSCO USNA The White House on WASHINGTON Wednesday lowered its forecast for economic growth this year even as it slightly upgraded its outlook for unemployment. Under the administration's new forecast, gross domestic product, or GDP, will grow by 2.3 percent as measured from the fourth quarter of last year to the fourth quarter of this year. That's down from a previous projection of 2.9 percent. The main reason for the downgrade: The first three months of 2007 got off to an extremely weak start. Economic growth at that time had skidded to nearly a hah, increasing at a rate of just 0.6 percent, the worst showing in more than four years. Federal Reserve Chairman Ben the administration and private 171 4059 COMM HTl USEG 4874 47.14 Corporate 42 WSJ WSJ 1422 NAT GAS KTINC 1111 MfTY MO NATURES CB1 13 63 CBAG IH NAT MFTM 3770 1160 465 114 DEVICES 53J3 ITS KP MynadOenreah. NOVl 5402 U MYCN CHANGE 0 15 IAUCP MTC IAST 7 ODGROUPMC EMC COMPANY NrtManajtlnt Nowllx C BU STM Press Quilter claims fraud in suit seeking share of profits WASHINGTON The productivity of American workers slowed sharply in the first three months of this year and wage pressures rose at a faster pace than expected, raising inflation concerns on Wall Street. The Labor Department reported that the amount of output rate per hour of work for nonfarm businesses rose of 1 percent in the January-Marc- h quarter. That was the slowest advance since the third quarter of last year and was below the government's initial estimate that' productivity rose at a 1.7 percent rate in the first quarter. Labor costs rose at an annual rate of 1.8 percent. That was up from an initial estimate of 0.6 percent growth in unit labor costs and was higher than the 1.3 percent increase Wall Street had been expecting. STM 5 of the Gee's Bend area in Alabama, sits in front of her quilt in Boston on May 31. Young filed a federal lawsuit Friday claiming she and other quilters were cheated by three Atlanta businessmen who claimed they had an oral agreement to market and promote the quilts. Productivity slows in first quarter PRESS -- Quilter Annie Mae Young, national Briefing ASSOCIATED MC 2203 7914 4J2 Former Qwest CEO defends himself in civil case Sandy Shore Tw( MiOClATtO Wtttt DENVER Former Qwest chief Joe Nacchio, facing prison time on ui Insider trading conviction, has denied allegations he participated in a massive fraud that triggered mutiibillion-dolla- r accounting scandal at the tekcanmunica-tkxv- s company. Nacchio'l attorney! submitted his formal answer to the federal dvQ complaint filed mora than two years ago, but ill proceedings have been delayed by his criminal case. The Securties and Exchange Cornmisskin case mirrors marry of the issues that arose during his criminal trial, charging that e exNacchio and other ecutives concealed the amount of money one-tim- from onetime sales of capacity on ts fiber optic for its 2000 acquisition of former Baby Bell U S West. It later restated $22 billion in revenue. The SEC wants repayment and civil penalties, with amounts to be determined at trial In a brief filed late Tuesday in U.S. District Court, Nacchio denied the allegations, 38-pa- network that was used to paragraph by paragraph, and meet revenue asked for a fury trial. As part of his defense, Nactargets. chio said he knew the company The SEC could be in line for lucrative hassaid business contracts from clanthe fraud JotNacchla destine government agencies occurred be but the details remained pritween April m and March 2002, allowing vate under a federal law that restricts public release of clasOwes! to improperh report sified information. approxirnatery 13 billion in that he tped pave the way information This i rev-err- top-secr- was part of the mix of information which allowed Nacchio to have a reasonable, good-faitbelief that Qwest would be able h to achieve its annual publicly stated financial guidance, even when those not privy to the classified information might have questioned Qwest's ability to achieve said guidance," attorney Herbert Stern wrote. The classified information strategy was mentioned by Nacchio's criminal defense attorneys beforehand but was not used during the Insider-tradin- g trial The bulk of the debate about the issue remains secret under the Classified Information Procedures Act. |