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Show Feeling of pessimism over area economy A pessimistic attitude is running irough the Uintah Basin as the economy mtinues to worsen. The manager of a local automobile ady repair shop said they were seeing iss people all the time. The repairs com-iginare com-iginare insurance repairs. Fewer and iwer people are spending out of pocket ash to get their car repaired if it is in lriveable condition. The manager of a local restaurant said hey have had a substantial layoff. He aid it is really sad when you train peo-ile, peo-ile, they do a good job for you, you are 'leased with them, but there is just not nough business to keep them busy. The 'nly thing you can do is lay them off. You an just hope business picks up in the iear future and you can call them back fore they find another job. John Mason, district manager for the Vestern Company of North America, aid they have recently had to lay off a ew people. They are now employing 'bout 50 people, but Mason expects no nore layoffs. Vard L. Openshaw, assistant Manager 'f the Vernal Branch of First Security iank, thinks there are grounds for the lessimistic feeling in the valley. He lelieves there are people out there who lave money, but they are afraid to spend t. Times have changed, according to 3penshaw, and he didn't mean things iust cost more because of inflation. This rear several stores throughout the valley leld clearance sales before Christmas, rhis is an obvious sign of concern. It r- seemed like everyone wanted to beat everyone else to clear out their merchandise. People are now shopping for bargains more than ever, Openshaw believes. Fewer and fewer people are concerned with quality. It's not that they wouldn't like to be, but you can only make so many dollars go so far, and when you need three pair of shoes for your children, you must buy three pair of shoes, regardless of quality. ' Because people are hesitant to spend money, says Openshaw, there is more money in savings accounts in banks. In 1982 the Vernal Branch of First Security Securi-ty Bank paid interest to their customers in the amount of $4.5 million. Gene Hall, Branch) Manager of Ver- nal's Zions Bank is also concerned about the economy. "Prospects don't look very good to pick up in the near future," he said. Hall is very concerned with the possibility of a severenvce tax being placed on oil in Utah. "Why would someone so-meone drill for oil here when they can go a few miles into Wyoming and drill where there is no severance tax?" Hall said the impact to the area could be serious. In terms of the banking business, Hall said they are now looking much more closely at loans to businesses in the oil industry, since it is getting more difficult all the time to pay those loans back. i , .... . r w t v ! v.-. J The Sheraton Inn selects two employees for Employee of the Month. Lori Johnson is January's and Laurie Oaks is February's employee of the Month. Allyn Daines is the representative from ; Mountain States Hospitality who manages the Sheraton. |