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Show " I .. :. Wednesday, December 1, 1993 The Daily Herald U.8- - spending syrpslsss sin analysts rtisajBii By SUSAN MANDEL last several quarters," Dederick said. Consumer spending grew 3.4 percent in the second quarter and WASHINGTON Mortgage 4.2 percent in the third, and similar refinancings and the surging stock are expected in the fourth gains and bond markets have helped spur as well. a recent consumer spending spree, quarter A few economists don't foresee suggesting consumers have more any slowing in consumer spending money than analysts had previousgrowth next year. Lehman Brothly thought. Some economists had feared ers expects incomes in 1994 to rise that the low personal savings rate enough to sustain current spending and sluggish income growth would growth, Betsy McPherson, an economist for the firm, said. eventually require a drastic reduction in consumer spending. The Commerce Department reHowever, people really "have ported that personal savings as a more spending power than we bepercentage of disposable personal lieved," Robert Dederick, chief income averaged 3.7 percent in economist at the Northern Trust July and August, the last two Co., said. He and others predict months for which data are availajust a modest slowdown next year ble. That compares with an in consumer spending growth from low monthly savings rate of its current strong pace. 3. percent, reached in May 1987. "Growth will continue, but at a The savings rate is 4.0 percent more moderate rate than over the through the third quarter this year, Financial News r Knight-Ridde- - all-ti- 1 the lowest it's been in four years, a Commerce Department official said. But the savings rate only consi- ders spending and income. It doesn't take into account several recent factors that have strengthened consumers' spending ability. Mortgage refinancings are the main reason people have more money to spend than the savings rate would suggest. The expected in mortgage refinancings drop-oprompted Dederick's forecast of slightly lower consumer spending growth next year, he said. In addition, record high stock and bond markets have made consumers wealthier. Household net worth is at a record high level, according to Federal Reserve data. ff People are also starting to take out more consumer loans, and they are using installment debt more freely now, economists noted. Carol Stone, senior economist at Nomura Securities, said the recent rise in consumer credit demand is a sign that concern about the job market is lessening. "There's a gradual improvement in people's income prospects. But that (still) doesn't mean they're confident about it, "she said. The September savings rate will be issued in this week's income and spending report from the Commerce Department. Personal income is expected to be reported up 0.7 percent in October, according to the median forecast of analysts Finansurveyed by Knight-Riddcial News. Personal consumption should be up 0.8 percent, boosted by healthy auto and truck sales. Estimates ranged from up 0.4 percent to up 0.8 percent for personal income and from up 0.4 per- er cent to up 1 .0 percent for personal consumption. The data is scheduled for release Wednesday. Several other key indicators are scheduled for release this week. The following include the median forecast of analysts surveyed by Knight-RiddFinancial News: are expected to be down 8 percent but the level of sales should still be high given the 20.8 percent jump in home saies in September. "The message is still the same; demand is strong," economists at ChemK cal Bank said in their weekly sum- -, mary. The data is to be issued er Thursday. GDP for the third quarter is expected to be revised to up 2.9 percent, previously reported up 2.8 percent. "Improved readings in consumption and business investment point toward slightly higher output," economists at the WEFA Group said in their weekly summary. The data is scheduled for release Wednesday :i Leading indicators should be reported up 0.6 percent in October. But that figure will be the first calculated using the Commerce Department's new methodology. The number would be higher under the old method. The index is due out Friday. . Payroll jobs are expected to Construction spending in October should be up 0.8 percent, boosted by home building. The report is due out Wednesday. New home sales in October be up 165,000 in November following a gain of 177,000 the previous month. Gains in manufacturing employment are expected for the second month in a row. WP ships medical dictionary I ieaa mm i1 0 . ' v - .. OREM With all the talk about multimedia blitzing the computer magazines, a local company has been leading the way for a several years. '1 "A few years ago most Americans had never heard of computers having full video and sound capabilities," said Elisa Hammond, 4 1 i"VV V ) - Zmmmmfr Herald PhotoJennifer Grigg , Steve Smith said an article on an ancient grain encouraged him to create Master Formula whole food product. Ancient grain spins off new business By ROBB HICKEN Herald Business Editor For Steve Smith, PROVO the perfect combination is heal- -' thy organic food combined with multi-levmarketing. Smith, who has been involved in development of three ' el ground-floo- r multi-lev- el mar- - keting organizations, its not just the possibilities, "it's all I know." "Six months ago, John Walker and I put together a business plan which included sales projects for our first year," Smith said. "All we had to go on in the beginning was hope." portant crop that the Aztecs grew because of its whole food nutritional value," Smith said. "Amaranth, by itself, is almost a perfect food." With the destruction of the Aztec culture by Cortez, amaranth, especially the type developed by the Aztecs, was lost until in the '60s by archaelogo-ist- s exploring caves in Mexico. Dr. Laren Robinson of BYU took the grain and defined its nutritional importance and spoke about the ancient grain in an news article. This article piqued Smith's interest. He decided that there was a nutritional substitute that would meet all the nutritional values being left out of today's Smith, who was president of Nature's Way (in Salem) and "hurry up" food. ' Nancy's (in Tulsa, Okla.), said He contacted a biochemist in his decision to begin the sale California Charlie Ung, who and manufacturing of a "whole combined amarant with other ' food" began early in his career natural grains to produce but he ."Master Formula." with Nature's Way didn't have a key element until "All grain crops have good ' he read a newspaper article on protein, but they lack in one amaranth. essential amino acid," Smith "Most people are not famisaid. "None has lysine. Amard liar with this anth has that amino acid. ' ' said. he grain," Smith, with continual urging In 1 5 1 0, when Cortez and his by neighbors, decided to put the ; men entered Central America, nutritional mixture on the marhe was amazed to find such a ket. ; culture. With All the ingredients in the mix feed a city popula- -' are Fj3A approved because need the to ; tion of more than 300,000, the they are either organic or : Aztecs had refined their agri- -' culture skills to an art form, "I had to find the right prodV Smith said. uct before I could do this," 'Amaranth was the most im Smith said. " 6,000-year-ol- well-develop- ed 4 spokewoman for Infobases International, of Orem. "Today, however, video, slides and audio on called multimedia computer g indusis one of the tries in the United States. ' ' Infobases has been producing educational and religious software for about three years now. Formed by two Brigham Young University alumni, Dan Taggart and Paul Allen, the company started out by importing scriptures and other religious books to computers and targeting them to members of the LDS Church. Since that initial offering, the company has begun producing other educational and religious software including the fastest-growin- Bible. Taggart said, "We are aware that multimedia is the wave of the future, and we wanted to use it to bring the Bible to life and help the entire family more fully appre- and computer animation found in many CDs and computer games," Taggart said. In addition to the scriptures, Infobases has expanded into educational materials with CD sourcebooks which include famous d quotes, history, and American history. The multimedia wave is very big in Utah, according to Norm Abegg, manager at Crossroad Mall's Software Etc. store in downtown Salt Lake City. "There has been a substantial increase in the sales of multimedia and CD ROM products this year over last, "he said. Abegg said that although the multimedia market is not saturated yet, it is a growning market. CDs are mainly purchased for educational use, such as encyclopedias. CDs have full video and audio capabilities, however, "you cannot record on them yet." As multimedia use increases, many schools in Utah are using the new teaching tools for students. Leslie McLaughlin, technology specialist at Salt Lake County School District, said she absolutely sees multimedia computers being first-han- used more in schools. "Multimedia is a different way for the students to look at something," she said. ciate, understand and enjoy the timeless messages of the Book of Books." Because sdaa i Special to the Herald of the success, Bus Gillespie, Orem High School social studies department head, said American history on CD is coming on strong . "The Sourcebook of American History," by Candlelight, is "as good as an encyclopedia," he said. Infobases was one of the first electronic publishers to license software from Folio Corp. , of Provo. Folio is a leader in information management software. Candle- light Publishing was organized to promote the CD ROM Multimedia Family Bible for Windows. "Our Multimedia Family Bible has the look and feel of the traditional family bible and incorporates paintings of the great masters, maps and elegant graphics rather than the cartoon-lik- e images Mountain View employees help with program View Hospital truly feel their charity dollars are being stretched be- neficially through the matched funds and discounted prices given by merchants. "Mountain View Hospital has always maintained a thriving community spirit," said Pam White, hospital spokeswoman. "This has been demonstrated in the donation to various organizations and also our community education courses. This is the second year employees have ' 'given from their Sub-For-Sa- It may seem a little early, but employees have been given the opportunity to have money deducted from their paycheck which totals are matched by the Elks Club. The Elks, in turn, work with local merchants to purchase merchandize at reduced prices to be given away to needy families in the area. pocket-books- Breakfast 101: Sally starts school at 7:35am. It is 15 miles from her home. She rises at 6:22am. If she travels 30 mph between her home and school; stopping only at Brackmans, what time will she arrive? 5588 S. Redwood Rd. 1890 Bonanza Dr Park City Now Open! 43 E. 859 E 900 S 4764 S. Highland Dr )47SMain Center Provo Now Open! 1 520 S 1 500 E IUWM UK BAGEL BAKERY 0 1993 Brackman Bros. i'-- l Before 11 :00am pl (1183s, (1183s, I Redeemable only at Provo store Valid through The answer is: Who cares! At least she qot to eat at Brackmans. Electronic Medical Speller helps achieve that." non-medic- al The acquisition of Reference Software International in 1992 strengthened WordPerfect Corp.'s leadership position as a provider of g reference aids. "WordPerfect Corporation designed the Dorland's medical speller to work seamlessly with WordPerfect so users don't have award-winnin- On the move Ronald C. Jones, assistant administrator at Utah Valley Regional Medical Center, has recertified as a fellow of the American College of health care execuinternational professional societives, a Chicago-base- d ty representing more than 27,000 health care executives. Jones attained fellowship status in 1982. Dr. Kip Moreno Robins has been appointed to the medical staff of Utah Valley Regional Medical Center I and Orem Community Hospital. Specializing in otolar- - I a ana necx surgery, Rooms aiagnoses Df yngoiogy-neaana ireais eimer meaicaiiy or surgicauy , aiseases 01 me ar, nose and throat. He joins the practice of Dr. Steven D. Rowley in Provo. Ben Isaac, 18, of Payson FFA Chapter, competed as a finalist with three other national finalists in the Specialty Animal Production proficiency Award pro-oraat this vear convention. Isaac collected and incu bated eggs from pheasant nests that were disturbed when he was cutting hay. He now raises and markets more than 6,000 pheasants a year. i I j j J i i I $ Kip Moreno Robins m '"j 1 l K La Keena Turner has joined the sales staff of ERA Mountainland Realty, in Pleasant Grove. Turner will Keena Turner be ablet to offer homebuyers and sellers a wide variety of products and services. Around Utah niy PrtffiprinoVinm Mi Accrvintc fine hirfH Pnn Fflonr relations department. He will be responsible for prosac- rvrtino o o various local and national o and managing r counts. Eagar brings more than 10 years of agency 1 i""" I 1 t . jZ non tagar i '.' I f j Articles for the Business trends section are run on a first-com-e, basis. Articles should be no longer than 50 words and, ifa photo is desired, please include it. Direct questions to the business editor, ed PUBLIC AUCTION U.S. CUSTOMS SEIZED INVENTORY AND GENERAL ORDER MERCHANDISE Inventory obtained from U.S. Customs Auction. Lots purchased at U.S. Customs Auction will be auctioned piece by piece plus other merchandise which constitute the majority of the Inventory offered at this auction. FINE MAHOGANY FURNITURE Davenport wleather, Chippendale glass cabinet, Drop front bureau desk. Chippendale wine table, Kali stand, Dutch carved leather chairs, Regency table, etc. FAMOUS BRONZE SCULPTURES - Signed, numbered pieces after F. Remington, CM. Russell, A. Moreau, A. Rodin, Chiparus, Sarye, etc. JEWELRY Diamond, Emerald, Ruby and Sapphire in the form of rings, tennis bracelets, pendants, earrings, etc TIFFANY STYLE LAMPS Intricate Dragonfly, Poppy, Wisteria, etc. HANDMADE ORIENTAL CARPETS -- Selection from Kashmir, Turkey, China, Pakistan, all sizes. ORIENTAL ART Porcelain fishbowls and vases, Jade boat, Cloissone Clock, Mother of Pearl Screens and Cabinets, Carvings, Phoenix boat, 4 foot Cloissone vases, etc. AUCTION: (, DM9 uninterrupted, and Dorland's Us ) ATURDAY DECEMBER 4th PREVIEW ONE HOUR PRIOR TO BE HELD: 'I I r' Inc. rQQ0 Baqel with Cream Cheese J yj Speller. The speller will link to WordPerfect for Windows or DOS, allowing users to verify the spelling of medical and terms simultaneously. first-serv- The employees at Mountain Under the direcPAYSON tion of the Mountain View Hospital Activities Committee, employees are pitching in to help Santa Claus this year through the program. simply anything new to learn-the- y check their spelling as before," said Don Emery, vice president of market solutions at WordPerfect Corp. "We want workflow to be public releations experience to the position. Sub-for-San- ta Looking for part time work? We're looking for individuals to assist in the production of The Daily Herald. Apply at: The Daily Herald Circulation Department 1555 N. Freedom Blvd. Provo OREM WordPerfect Corp. has begun distributing the new Dorland's Electronic Medical : f at 1:00PM BEST WESTERN C0TT0NTREE Mil 2230 NO. UNIVERSITY PARK EMBASSY AUCTIONEERS-TERM- (1-- EXIT 272) PROVO CASH, MAJOR CREDIT CARDS, VERIFIED CHECKS. . |