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Show WRONA ANNOUNCES RETURN OF IRAQ VETERAN Last summer, two Wrona Law Firm senior attorneys were called upon by the Army to serve in Iraq and Afghanistan. Last month, one of them, Jeffrey Colemere, returned to Utah to reclaim his position at Wrona Law Firm. Colemere left Wrona Law for Iraq after being selected to serve as trial counsel in Iraq for the newly established 96th Sustainment Brigade. The 96th Sustainment Brigade was headquartered at Camp Taji, on the outskirts of Baghdad, and at Al Assad Air Base, near Fallujah. During its Iraq mission, the 96th Sustainment Brigade supported the needs of over 4,000 soldiers. CONCEALED-CARRY PERMIT CLASS OFFERED Uinta Hunting & Shooting Sports in Kamas is hosting monthly Concealed Carry Permit classes. The class is held one evening a month and taught by an instructor certified by the Utah Bureau of Criminal Identification and sponsored by the National Rifle Association. All fingerprints, photos, and notarization are done on site. The cost of the class is $55. Please call or come in with a $10 deposit to reserve a spot. The next class is June 12 at 5:30 p.m. KARL ROVE TO SPEAK FOR TRADE CONFERENCE Karl Rove is expected to be the concluding speaker at Zions Bank's May 18 Trade and Business Conference at the Downtown Marriott (75 West Temple). Conference topics include how the current economic climate, demographic trends, world affairs, and government frameworks. Register online at www.zionsbank.com/conference or by calling (801) 844-8573. Black Diamond will be better able to compete globally By ANDREW KIRK Of the Record stuff Park Meadows resident Peter Metcalf said he's had to recently set aside his passions of skiing and mountaineering to pursue the biggest adventure of his life. In a couple of weeks, his company Black Diamond Equipment will make a strategic move from which it will emerge a publicly-traded company. He brought it to Salt Lake City over 20 years ago boasting $5 million in sales. This year it is on track to post $100 million, he said, adding that it employs hundreds of people in Utah and on three continents. Metcalf said in an interview Thursday that the journey that led to this decision began as an effort to reduce the number of hours he was working to have more time for the pursuits that originally inspired his career, Ironically, the reverse has happened, but he said that's all right. "Somewhere along the way I became a business person as well as a climber and skier," he explained. "Creating, growing and managing a business... creating a global entity... has been an exciting and enthralling adventure." In his circles, first ascents are coveted. Well, he said, what finer first ascent could there be than taking a company like his public in an unorthodox way? "This is a captivating final chapter," he said. The unorthodox way is a reverse merger, Metcalf explained. An entity called Clarus Corporation is buying Black Diamond. It is already a publiclytraded company, but it has no operations - only financial assets. Simultaneously, Gregory Mountain Products will merge with the two. Then, with the profits, Black Diamond's leadership will buy shares in Clams, which will then rename itself Black Diamond Equipment. • This strategy allows the new entity to enjoy tax advantages while also absorbing Gregory Mountain Products, Metcalf explained. He will remain president and CEO. Black Diamond's leadership will not change, nor will there be much impact on employees, he said. Metcalf said he's doing it because going public is the "quickest, cheapest, least onerous way to access capital for growth." He expects to receive a $200 million operating budget to carry the company forward. Thoughts of the future are prompting the move more than any immediate gains, he explained. By going public, he releases Black Diamond from his own success or failure and gives it the governing structure needed to outlast him. "People talk about how horrendous Wall Street is, but its the only legitimate means for a company to have an infinite future and compete on a global basis,"1 he said. By the time his CEO contract expires, he'll be 60. Metcalf said he's working to do the best thing for his company now, and will make some major decisions about the next phase of his life then. Because of the principles upon which Black Diamond was built, Metcalf said he feels good investing so much in his enterprise. He said when he first started he wrote a list of commitments he wanted to keep. One was, "To champion access to and preservation of mountain, canyon and crag environments while working to minimize our environmental carbon footprint," he said, PHOTO COURTESY OF BLACK DIAMOND EQUIPMENT Peter Metcalf is an avid climber and skier, those passions inspired his career. To give his company a legacy, he's taking it public. adding, "That happens week in, week out... I'm really proud of some of the things we've done in that regard." For example, just recently Black Diamond hosted a press conference at which Congressman Jim Matheson announced his sponsorship of a Wasatch Wilderness and Watershed Protection Act. The company's leadership also donates a great deal of time and money to programs that promote good stewardship and conservation, he said. When he first moved to Utah, Metcalf said he was the only outdoor and ski sports retailer headquartered here. Because of his company's leadership, and his success in bringing the Outdoor Retailer Summer and Winter Markets to Salt Lake City, his industry is now a vibrant sector in the state's economy. The Best Specialty Healthcare... Obstetrics •• Gynecology ••-•• General Surgery ..is right here in Park City. Danielle Demeter, CNM Jeanne Falk, MD LaReine Sabella, MD Vanessa Hart, MD Providing the best healthcare in Summit County isn't the only thing these physicians have in common. Each one was drawn to Park City as the ideal place to establish a home and medical practice - attracted by the people, strong community identity and an unmatched lifestyle. Now, the best place to live is also a great place to receive specialized healthcare. Call today for an appointment or consultation. Intermountain Park City Specialty Clinic 900 Round Valley Drive, #200 • Park City 435.658.7400 |