Show i i ' A10 — The Herald Journal Logan Utah Thursday August 15 2002 Loo ico n n ejo aweat he rJ nfo Jin ks I kTHEkWEATHER wwwh Forecast for Thursday Temperatures Indicate Wednesday's high and overnight low to 8 pm Eastern Time ACCUWethefXOmioracMtonlavlHiwcondWonhigMoiifUmpwituw IMHO Jm WYQ 1 i JUI National temperatures Cache Valley outlook Utah outlook t i i s B5‘53 Jgwi Y':i iVy: Sit Lite Cfcy j TODAY' FRIDAY S0"M° Sunny and dear 5 with highs in the mid to upper 80s and night lows Sunny and breezy Partly doudy with with highs dose highs between 75 to 90 and night and 80 and night " lows in mid to lower lows in the mid-40s 40s k & TL' NEV S1"5r'l Piovo - V’: '3"5T i— A dry stable northwestern flow aloft will remain over the Great Basin through Friday A weak cool front wW drift south across northern Utah late Friday through Synopsis: ' 1 t V'-- V r Mtwb'SrM! : caa 'cdfCtt'sa"8r From the news wire V‘V f 1 St OaorgB 10r7r : By NIL AMZ 02002 AocuWmH r Local temperatures Almanac Up UV Index: 8 ( High) Conditions: deer The first quarter moon occurred today at 6:12 am£DT The moon travels strove the edipUc plane then through it at node then below the ecliptic to a maximum of 5 degrees north or south and a maximum of-- 8 degrees north or south of Earth's equator Moor FW quarter begins Aug 15 Lawn Water use: 5 days between 1 - ' VMbMty: 10 miles watering water with above 8:31 HumkMy: 15 percent ' The AccuWeathereom forecast for noon Thursday Aug 15 -- IB 4 mucaplin IB SO 40 SO i SO 2002 AmiMMhar Ine ePb E3: i i i (0 7Di (0 (0 100 110 Nparate high temparaturazonM tor twcteyi Ban southern Plains Strong storms formed across eastern and southern Texas Louisiana Arkansas and Tennessee Lighter to moderate storms and showers pre- dominated in eastern Oklahoma western Kentucky Illinois Indiana Michigan and Ohio By late afternoon a few storms also had formed ahead of the cold front in parts of Pennsylvania and New York state The National Weather Service posted severe thunderstorm warnings for parts of Indiana Kentucky Ohio Pennsylvania and New York 'Rain and thunderstorms also were expected to move into New England during the night Wednesday’s temperatures around the Lower 48 states ranged from a morning low of 31 at Stanley Idaho to a midday reading of 104 at Gila Bend Ariz The highest midday heat index based on a combination of temperature and humidity was 1 10 at Kingsville TeXas stronomyOrocfctmBllcom inch The Associated Press Showers and thunderstorms were scattered from the Gulf of Mexico' to the Great Lakes on Wednesday' Stormy weather developed throughout the day along a cold front that stretched from the Great Lakes to the nr Inc Sum Sunrise: 6:33 Sunset: EXTENDED COLD E3 E3-E3ES- MWUf M O 8W10NMY FlCMIf ChW Cache Valley forecast provided by NationalWeatherService'FHJp Abovelfeature provided by'Astro Data Sold Finances Continued from A1 Continued from A1 time included a design for a road and possible parking places He went onto say that Landmark didn't consider that masterplan map calling the study “pup- disclosed that it earned $386 million less than previously reported over the past nine years Investors were unperturbed boosting House hold’s stock by29 cents to $3809 by the close of trading on the New York Stock Exchange The company which issues MasterCard and Visa credit cards and makes home equity and car loans said the restatement came after its new auditors reviewed its accounting for petry” “It's controlling the outcome by controlling the process" O’Brien said O’Brien said that residents have been “sold down the river” by the decision on Wednesday “The entire neighborhood was shortchanged and shot in the back” O’Brien said He said the property owners have not ruled out either working with Saxton or considering legal options “We're going to look at all of our options” O’Brien said Councilmember Janice Mikkelsen said that the decision was a difficult one “It hasn't come easy and I ani real concerned with doing it right” Mikkelsen “It’s a question of what benefits the most people of Smithfield and if I felt that a park could be developed I would go that way” r Analysts suggested many investors may have gained confidence from the certifications coming into the Securities and Exchange Commission Still all the results were not in because there was a lag between companies’ submitting statements to the SECand their posting' on the agency’s Web site Companies can get an automatic five-da- y extension Chief executive officers arid chief financial officers who falsely certify their company reports could be prosecuted and imprisoned The SEC order does not spell out what would happen to companies that miss either the deadline or the five-da- y extension William Lerach an attorney who has sued er to dry than the (other) Continued from A3 ( late-da- statements About 250 of them have deadlines later this year No longer can CEOs blame this company’s auditors or say they were unfamiliar with its finances as former Enron chief executive Jeffrey Skilling did in testimony to Congress earlier this year “We’ll enforce the law” President Bush said in a speech in Milwaukee “And Americans can be confident that if somebody cheats them there’s going to be a consequence” “But by far the vast majority of our corporate leaders are honest and decent and honor- able people” Bush said The company that started a season of scan-da- ls Enron Carp collapsed energy-trad- er certified Wednesday the accuracy of the financial reports it filed since entering bank- ruptcy proceedings in December But the company said it could not vouch for any repents before then ing but it’s been a little slow- School ' contracts “complex” credit-car- d The market was unruffled however by the restatements — fewer than a dozen companies made them as of Wednesday afternoon — and staged a y rally sending the ' Dow Jones industrials up about 260 points Enron Andersen WorldCom and other com- panies embroiled in accounting failures on behalf of shareholders sounded a note of cau- tion “There’s so much wiggle room in the language of the certification that we may not be getting what we think we’re getting I’m just afraid that we may get a false sense of confidence” he said The leaders of approximately 700 corporations were required to file the sworn statements by 5:30 pm EDT Wednesday More than 450 companies — from Ace Hardware to Yum Brands Inc — had done so by then In response to the accounting scandals of recent months the SEC in late June ordered 947 companies — all with annual revenues exceeding $12 billion — to submit the sworn considered a wetland after a series of tests were completed but Jensen told the Board lUesday that the designated wetland area has diminished again “There’s 117 acres that the corps believes' are waters owned by the United Statps of America and if we do anything we have to go through a permit process to fruild” Jensen said “It’s not showing wetland vegetation and our ’ readings indicafe that it’s dry- - 1 1 acres where the school will be constructed With time we think we won’t need a permit In the meantime if that dries up we can go ahead” The elementary school coq- stryction will be funded by a bond which was authorized by voters in a 1997 special election according to Paul Jensen business administrator fra the Logan City School District TTie distnct has until 2007 to sell the bond and another three years to use the money so the terms of the voter authorized expenditure is still in compliance with tjhe law he said Continued from A1 ' announced plans to put a gas stationebn-venienc- e store at die corner of 200 North and Main Street earlier this summer Residents complained that the store would detract from property values and could lead to an increase in crime ' In a public hearing last month as the issue came before the planning and zoning commission commission members were hesitant to approve plans fra the gas station amidst the proposed zoning ' Instead the planning commission gave die city coUncU two meetings to resolve ' v thezjpningissufs changes ’ j f ' r s i ed by the Federal Reserve’s decision not to lower interest rates ' Technical factors such as traders trying to make a quick profit once the markets turned upward also contributed to the rush of buying' analysts said “It just seems like the selling ran out of steam Once it turned higher you had shortterm traders hop in on the long side” said Richard A Dick- son technical analyst fra Hilliard Lyons in Louisville Ky “It’s just more of the volatility that we have been Dow Continued from A1 recover from Tuesday’s 207-poi- nt loss The broader market was also sharply higher The Nasdaq composite index gained 6502 or 51 percent to 133430 following Tuesday’s loss of 3752 The Standard & Poor’s 500 index rose 3541 or 4 percent to 91962 after falling 1958 points the day before “There is just a certain amount of relief that the sig- ' natures were coming in” said Tony Cecin director of institutional trading at US Bancorp Piper Jaffray ' Wednesday’s late rally was in keeping with recent sessions that have semi big rallies or selloffs emerge in the final hour or so of trading Tuesaccelerated day’s big sell-o- ff in the last hour — a reflection perhaps of momentum' trading as investors see the mariiet headed in one direction and react! Another factor was bargain hunting following Tuesday’s declines which were prompt- -' On Wednesday night the council passed the zoning changes but not before Fortie amended die C-- B zone to include preschools animal clinics without out- door kennels convenience stores with gas pumps bed and breakfast inns and municipal recreation centers with a con- ditional-us- e permit This action clearsthe clears and up the zoning discrepanwy cies with regard to the gas station ' Current property owner John Sorensen was pleased with the outcome “It is exactly what we were hoping for” Sorensen said ' Andersen said that construction oa a gas statioficonvenience store will probably not begin untilnextyear' “There are a lot of engineering questions and surveys and plans that hav$ to be done” Andersen said Though neighbors bbject to the gas sta J i seeing” Earlier in the session ana- lysts worried that a delay by many companies could by jittery prompt a sell-oinvestors But by midafternoon hun-dreds of companies had certified their results with few restatements The advance was wideff ' spread including some com- - panies that announced they would have to restate past earnings along with firms that posted results Household Interna- - ' tional which will restate results rose 29 emits to weaker-than-expect- ed $3809 tion concept Andersen still said he would be willing to work to help mitigate property owners concerns “Sure I still want to work with them” Andersen said “But it will still have to make economic sense” He went on to discount sotne previous-l- y suggested ideas such as moving gas pumps behind the station saying dial would be damaging to his business SH Does Your Heart Good 'American HedrtAssodation 0 ' ? i 'i "i Best r i : Pricer a instate inn vv- MxjVb in good I f I' t Warranty v f 2 BestQuattiy& Service Sat I'M 7 U J WE DO IT RIGHT! 1300 North 400 East Suhe 360 y'1 Regional Mcdcal Am Buikfing Ptrscn ITft&Iri Jane Rob&soft-- l on Logan A ' V-- Hours' ' hands Talkto a Warranty Frames Lenses A 75$5280 87 W Cento Logan UT 84321 Eric 997 n Main tbgan UT 84321 (435)753-192- 3 ABsMb PrapMfcrand CBtulty InaunnM CompM B Indemnity Company and AHstal Hun OMo: Northbrook Hinotee2002 Altstats Inouranoa Came arty C K 'jla t - "“I LImmmI m 1“ h v J V T I ' a k'o |