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Show PAGE 6 0 WEDNESDAY, MARCH BUSINESS EDITOR Local Industry News & Notes A ilk Dow Jones Final 12,288.10 61.93 jhk Nasdaq S&P500 Gold Final 2408.21 13.80 Final Per ounce $657.90 $4.80 1410.94 8.88 Grace Leong EXCHANGING THE DOLLAR Jk' , I 21, 2007 Silver ' Yen Euro Per ounce $13,285 $0,138 Pound Canadian dollar Mexican peso Tuesday Monday 117.25 $1.3307 $1.9609 1.1607 11.1194 117.59 $1.3301 $1.9443 1.1779 11.1372 People on the Move Intermountain Healthcare names 3 board members Healthcare named three new board members to its board of trustees. They are: Jane Carlile, a former member of the Provo City Council; Edward G. Kleyn, president of Wells Fargo Bank, Northern Utah; and Carmen Boyden Pingree, charter member and president of the Autism Society of Utah. Carlile currently teaches personal and professional development skills at Turning Point at Utah Valley State College and has served in leadership positions with nonprofit organizations including Habitat for Humanity, the Neighborhood Housing Services of Provo, and the Boys and Girls Club. Kleyn has served in executive roles at the Bank of Utah, First Security Bank and Wells Fargo. An active community leader, Kleyn has served on the board of Downtown Ogden Inc., United Way of Northern Utah, Weber Economic Development Corporation, Ogden Industrial Development Corporation and Weber State University Alumni Association. Pingree, a charter member and president of the Autism Society of Utah, has also served as the chair of the Governor's Council on People with Disabilities, and as an advisory board member of the Children's Justice Center. CEO called a cheater Inter-mounta- in Bank Bank of American Fork names two new executives of American Fork named Wolfgang T.N. Muelleck chief financial officer of its parent company, People's Utah Bancorp. Muelleck serves on the board of both Bank of American Fork and People's Utah Bancorp and was elected to a third one-yeterm. He is the former chair of the bank's audit committee and is a current member of its strategic planning committee. Muelleck also spent 15 years as a partner with Ernst & Young in Salt Lake City and Fresno, Calif. The bank also named Laura A. Murphy to its board of directors. She will serve as the board representative in the bank's marketing focus group. Murphy has more than 20 years of marketing and advertising experience. She has served as the marketing director at Park City Mountain Resort, as director of marketing and sales for the Sundance Resort, and as the senior public relations counsel at Bremer Public Relations in Salt Lake City. Ex-Qw-est Sandy Shore THE ASSOCIATED "is based on a very simple fairness. Corporate principle insiders are in a position to PRESS s i take advantage of information people outside don't know." Defense attorney Herbert Stern told the jury that Nac-chi-o sold no stock based on insider information and always acted in good faith in his dealings with Wall Street. DENVER Former Qwest Cornmunications chief Joe Nac-chi-o deceived investors and the public when he secretly sold $101 million in Qwest stock before its share price plummeted, a federal prosecutor declared during opening statements Tuesday in Nacchio's insider . Nacchio "believed passionately, firmly and honestly in the public financial targets of his company," Stern argued, adding that Nacchio's stock sales were wholly consistent and in part motivated by terms of his contract with Qwest Communications trading trial "This is a case about cheating," Assistant U.S. Attorney James Hearty told jurors. "He sold $ 100 million worth of Qwest stock when he knew ' about problems at Qwest outside that problems people Qwest did not know." Nacchio's case, Hearty said, See f- JCl J ff ZALUBOWSKIAssociated DAVID Press Former chief executive of Qwest Communications Joe Nacchio third from left is surrounded by his legal team as they walk QWEST, D5 to the federal courthouse in downtown Denver. ar Food Safety Business Event ft to hold microfinance seminar on Thursday The Brigham Young University's Economic Self Reliance Student Association will host a lecture on the future of microfinance featuring speaker John Hatch on Thursday. Free. Location: 111 Ezra Taft Benson Building at BYU. Time: 7 p.m. Hatch, inventor of the Village Banking model, has been instrumental in establishing small lending institutions called "microlenders" in cities around the world that are run by members of the community. The institutions provide small loans to qualified persons to begin businesses or get out of extreme debt. Hatch is founder of FINCA International, which has loaned more than $5 billion in the past five years. For more information, please call Todd Manwaring at - BYU - (lib n 7 X 1 422-178- f National Briefing 4' Law could put pressure on property owners Gov. Jon Huntsman signed a law SALT LAKE CITY Tuesday that eases restrictions on communities that want to acquire land for private development. House Bill 365 allows a public body, a redevelopment authority, to condemn blighted land if 80 percent of owners in the targeted area agree. The bill also requires a two-thirvote of a community's redevelopment board to approve the condemnation. It is a significant change in a state that had a moratorium on the use of eminent domain for private development. "I still believe the power of eminent domain should not be used for private development. There are some circumstances, however, where there may be a justification," Sen. Curt Bramsaid last week. ble, Huntsman's deputy chief of staff, Mike Mower, did not return a call seeking comment on why the governor decided to sign the law. The law could allow Ogden to push ahead with t. plans to condemn land for a It was Ogden's efforts to attract Wal-Maby using eminent domain that drew the wrath of lawmakers in 2005, when a moratorium was put in place, w Bramble has said lawmakers could revisit the new law if Utah cities "abuse" it. Wal-Mar- rt Stocks of Local interest performance of selected publicly traded companies Yesterday's LAST CHANGE STM COMPANY AA ALCOA INC ABSY ABSOUrTESKY ABX BARRJCKGOLDCP AEP AMER ELECTRIC AJG AMERMTL GROUP. AMD ADV MICRO AMGN Amgenhc BAC BK P0W CO INC DEVICES COMPANY LAST CHANGE 0.11 NATR NATURES SUNSHINE 025 .0.00 28.67 021 4726 0.86 6838 0.52 NETM NetManage, Now Ire NWN NORTHWEST 13.41 031 OMTR Omniture, 59.43 PCG PG&E CP 4732 1.02 PTE PFIZER INC 25.54 0.18 34.07 INC NEV SYM NOVl ' NUS 11.76 kit 0.11 5.08 0.00 7.17 0.17 16.590.08 NU SKIN ENT INC NAT GAS Inc. 45.18 0.48 17.6S 0.02 BU BALL CP 45.89 026 039 4.06 Q QWEST c ariGROupiNc 50.64 oss RZ RASER TECHNOLOGIES 5.00 0.06 CBAG CRESTED CORP 2.61 0.03 SCOX SCO Gram he (The) 0.95 0.04 CMCSK Comcast Corporation 25.97 0.42 SHLD CVX CHEVRON 70.05 0.67 SU 029 0.52 Of AMERICA 5076 CP CORP COMMINTl 175.79 4.63 SMITH 44.89 0.60 SKVW StryWesttrc 26.99 SNTO SerrtoCaporatiort Sean Holdings Corp WTl INC D6 WALT DNEX DionexCorporation 3438 6436 ERIC LM&teon Telephone 36.55 033 SPI SCOTTISH POWER ETR ENTERGY 102.09 1.44 STR QUEST AR CP FC FRANKLIN COVEY CO SWFT S( GE GEN ELECTRIC CO 34.77 O10 SY SYBASE INC HRB HR 21.07 0.02 T HSK Henry Scheci 53.09 0.70 TGT BM INTL BUSINESS 94.50 0.51 TRV THE TRAVELERS MTC IrM Corporation 1199 4.12 ICR UNITED DOMINRLTYTR JBUJ JetBlue 11.97 0.17 UNH UNITEDHEALTH 79.80 4.60 USB US BANCORP 51.97 0.62 USEG 4348 3028 2465 1.14 USNA USANA 425 UTMD Ut VZ VERIZON C CP 8494.0001 BLOCK INC he MACH JCP Arrays Corp PENNEYJCC0HOLDW JWN NORDSTROM INC KRON KronalmxrpivMed LEE LEE ENTERPRISES LFB LONGVtEW LUV SOUTHWEST FIBRE CO MER MLCOCMNSTK MTfY Enterprises IK Merit Medrcal Systems MTTY MSFT Corporation MU MICRON MYGN MyWGtnrtalnc TECHNOLOGY WB Transportation Co. AT&TWC . TARGET 61.140.70 CP CO ' UiEmrajCnp. . Health Sciences Medal ProducS COMMUN WACHCMA CP WEN WENOYSWTIWC 82.14 074 026 WFC WELLS FARGO WMT WAL MART STORES he. 12.75 0.05 2734 4.01 1127 000 3326 030 WM . SQttTNUTWTINTl UNITED STATES STEE 1951 X i CO NEW . 5130 0.92 3128 029 420 35580.16 54.10 GROUP ; 0.05 , 047 2.15 4.04 6137 039 8731 098 3032 024 2463 021 37.91 033 PLC 56.6$ CORP MCKESSON 0.00 15.120.12 AIRUNES MCK MMSI ' 875 4.05 INC 524 4.02 4735 121 3424 410 3698 023 55.97 027 3142 4.12 3431 036 4730 O71 631, 409 92.99 232 044 054 XR XCE ENERGY INC 2413 2MN ZioreBarrcaponrton 85.70 TONY George Fontes, will grow lettuce of Comgro Incorporated, poses for a photo as a truck spreads compost on a in the upcoming months in Salinas, Calif., on March 14: 25-ac- re AVELARAssociated Press patch of land that ' E. coli scare drives change in farm practices to increase food safety Jacob Adelman THE ASSOCIATED ing farming less disruptive to the environment. "There's been some real knee-jer- k decisions made in the industry," said Dirk Giannini, who operates a lettuce farm in trie agriculture-ric- h Salinas Valley, "We may overreact; and that might shortfall the enJ ' vironment." ; vv The California agriculture industry, which produces about PRESS LOS ANGELES Trying to prevent more E. coli outbreaks and regain consumer confidence, some produce distributors are pressuring farmers to abandon practices that have long been considered environmentally friendly. Fresh Express, the nation's No. 1 maker of packaged salads, is refusing to buy lettuce and spinach from farmers who dont stop using compost and recycled water. "If there's a risk there, we dont want to take it," said Jim Lugg, food safety director of Fresh Express, a division of Chiquita Brands LLC '; Other shippers and handlers want farmers to stop planting native grasses that limit erosion but can attract animals ;,j of the nation's three-quarte- rs ., , A truck spreads -- ... TONY Press AVELARAssociated compost on a patch of land that will grow lettuce in the upcoming months in Salinas, Calif., on March " 14. ments based more on conjee-hir- e than sound science, and that the mandates could undo years of work aimed at mak bacand trap disease-causinteria. Farmers complain that they are being subjected to require T' lettuce and spinach, is working to regain the trust of consumers after two E. coli outbreaks last year were traced back to the state. " : One incident in September left three people dead and sick ened more than 200 others. The contamination was tracked to ' a spinach field in San Benito " , County. . SeeE.C0U.D5 Construction rebounds; drop in building permits worrisome Martin Crutsinger THE ' ASSOCIATED PRESS WASHINGTON New home construction rebounded In February following a steep January slide. But analysts pointed to a further decline in building permits as a worrisome signal of future problems for the troubled housing indus- try. . ' mained 28.5 percent below the level of a year ago, in February to a seasonally ing housing's steep downturn adjusted annual rate of 1.525 .; - Builders' applications for new permits, considered a , million units, the Commerce Department reported Tuesday. more reliable gauge of future . Construction had fallen by activity, continued falling in 14.3 percent in January to the February, dropping by 2.5 perslowest pace in more than nine cent to an annual rate of 1.532 : million units. That marked ' years. the 12th decline in the past 13 Even with the months in building permits. rebound, activity re Construction of new homes and apartments rose 9 percent 1 . ' The continued drop in permits was seen as a troubling sign that the fallout from the housing correction, which has already slowed economic growth considerably, is not over.-- - -- 4 ., On Wall Street, investors shook off concerns about housing to push stocks higher. The d 1 ' ..S-.NSv..- ,.. See HOUSING, D5 ... t |