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Show THE PARK RECORD www.newschoice.com SATURDAY, SEPTEMBER 19, 1998 Bimsiiiiess, BUSINESS EDITOR: Bruce Lewis 649-9014 ext 1 13 : Briefs Group seeks state's fastest-growing firms i. MountainWest Venture Group. A Utah not-for-Drofit corooration fterii. f cated to advancing the growth of Utah ;( Businesses, is issuing a call tor appli-f appli-f cations for the fourth annual Utah 100 t Fastest Growing Companies recogni-tlon recogni-tlon program. Applications must be oostmarkari I by Sept. 21. , The 100 fastest-growing compa- i nies ana the 25 lamest mvAnun. growth companies will be recognized at an Oct. 27 luncheon. Applicant companies must be Utah-based, a U.S. corporation, and fn business for at least five full years. More information and application forms can be obtained by calling (801)537-5222. Wardley Better Homes announces affiliations and radio program The Park City branch of Wardley Better Homes & Gardens Real Estate "recently announced the affiliation of j Jill Mackay and Coleen Dean as their ,tnew management team. The Salt Lake based Darent com- ''pany also announced the launch of . weekly radio broadcast on KKDS, AM 1060. The program runs from noon to ; 1 p.m. every Sunday, and is hosted by radio veteran Rich Dixson. Questar completes reserve acquisition Questar Corporation (NYSE: STR) announced last week the completion of the acquisition-of HSRTW. lnc, a .Mtdcontirfenrroii ana gas operation .from HS Resources, Inc. (NYSE: IHSE). In the $155 million cash transaction, transac-tion, Questar obtained 150 billion Jpubic feet equivalent (Bcfe) of proved oil and gas reserves located primarily Jin Oklahoma, Texas, Arkansas and j Louisiana. . The acquisition also included another 50 Bcfe of reserves considered probable and possible. Two chosen for Natural Resources positions Sherman Hoskins and Darin Bird have been selected for positions within with-in the Utah Department of Natural Resources. Hoskins will be deputy director, replacing Howard Rigtrup, and Bird will fill a new position as special spe-cial assistant for policy and intergovernmental intergov-ernmental relations. Hoskins has 31 years' experience in fiscal management, specializing in auditing and budgeting. . Bird currently works for Senator Bob Bennett, where he serves as state 1 coordinator for natural resources. -r Hoskins will assume his new duties Dec. 1, and Bird will begin after the November elections. First-half sales tax results: up, down or sideways? Change in state's tracking method clouds numbers by Bruce Lewis OF THE RECORD STAFF The first six months of 1998 showed increases in taxable sales and service transactions for Summit and Wasatch Counties and Heber City. Park City, however, saw a decline during the same period. The numbers are in a recent report, "Gross Taxable Retail Sales and Purchases in the State of Utah," released by the Utah State Tax Commission. Change in Accounting Methods A major change in the method of accounting for tax receipts from outside Utah's borders has the potential for tracking the number of reporting businesses busi-nesses in 1998. Non-store distributions are credits to taxing entities made by out-of-state firms who make taxable sales in the reporting area. The report cautions that a change in the method of reporting non-store distributions distri-butions makes direct comparison of the number of business entities difficult. Prior to this year, out-of-state firms merely reported taxable sales for the state as a whole. The Tax Commission has been encouraging those firms to report on a county-by-county basis instead. That means that a catalog operation which sold goods in 20 Utah counties, for example, was counted as one sales and use tax receipt in 1997 but is now counted 20 times once for each county's coun-ty's separate tax distribution. Also, out-of-state companies which frequently do business in Utah have been encouraged to obtain tax licenses from the state and report use tax directly. direct-ly. Prior to this year, the purchasing user reported the use tax. For example, an out-of-state manufacturer's manu-facturer's sale of heavy equipment to a Summit County firm is now more frequently fre-quently reported as an out-of-state distribution dis-tribution by the manufacturer than as a use tax reported by the firm which purchased pur-chased it. These changes have the effect of artificially arti-ficially increasing the number of business busi-ness entities reported at the county level and decreasing the number reported at the individual city level. Using the recent report as an example, Summit County businesses physically located within the county did not increase by 527 (from 1,533 to 2,060), and the number of Park City businesses located within the city limits did not decrease by 212 (from 826 to 614). To illustrate the impact of out-of-state distributions on Park City, the same report for last year showed 675 reporting outlets in 1997 (against this year's report which lists 826 outlets in 1997). Last year's taxable sales were reported as $198.1 million in the 1997 report, but were inflated to $216.6 million mil-lion in this year's report after out-of-state receipts were distributed. Using the earlier figures, Park City's gross taxable tax-able sales actually increased by 1.2 percent per-cent rather than declining. Counties Up Gross taxable sales and use tax purchases pur-chases for January 1 through June 30 showed Summit County increasing sales by 10.3 percent, from $307.7 million to $339.3 million. The number of Summit County outlets and non-store distribu- Gross Taxable Sales January-June 1998 $400,000,000 $200,000,000 $0 I? 1. 1997 01998 Erf: 0 GRAPHIC BY BRUCE LEWSPARK RECORD Taxable sales increased in Wasatch and Summit Counties and Heber City for the first half of 1998 when compared to the same period last year, but declined for Park City. An accounting methods change has cast doubt on the figures. PCMR, Zions Bank fire a round in marketing wars tions increased from 1,533 to 2,060 in 1998 when compared to the same period in 1997. Wasatch County's outlets increased from 572 to 931 for the first half of 1998, and taxable sales climbed from $$53.1 million to $58.9 million, an 11.1-percent increase. Park City Down, Heber City Up Park City's reported sales during the first six months of 1998 were down 7.5 percent from the same 1997 period, falling from $$216.6 million to $200.4 million. Reporting businesses dropped from 826 to 614. The number of reporting outlets in Heber City also declined during the first six months of 1998, from 256 to 228, but taxable sales increased by 1.9 percent, from $32.1 million to $32.7 million. Statewide Results The 29 counties in Utah saw a 7.9-percent 7.9-percent increase in taxable sales, from $12.7 billion in 1997 to $13.7 billion in the first half of 1998. During the same period, the 53 largest Utah cities reported a slight 0.7-percent 0.7-percent increase in receipts from 1997 to 1998. Gross sales in the first six months of 1997 were $10.37 billion and $10.4 billion bil-lion during the same period in 1998. Looking only at June receipts, statewide Retail Trade (the largest major sector, with sales of $1.16 billion) rose 13.8 percent from year-before figures. fig-ures. During the same period, national retail trade receipts rose by 6.2 percent. Other statewide major-sector results for June 1998 were: Services: up 24 percent Construction Purchases: down 4.9 percent Agriculture: down 6.6 percent Mining: down 50.5 percent Manufacturing: up 14.8 percent Transportation: up 62 percent Bank, ski area release first credit card lift ticket by Bruce Lewis OF THE RECORD STAFF The ski industry overall has been . competing for a relatively static number of skiers and snowboarders during the past half-decade or more According to the National Ski Areas Associat s k l e days- defined as a visit by a skier or i snowboarder to a resort for one day haven't varie&by more than a few percent nationally for at least five years. Ski areas have found themselves offer-NJfS ine increased levels of services and amenities to attract visitors ; . tLr&&'zm to remain competitive in the industry. Park City Mountain Resort and Zions Bank fired a round in the battle to compete, com-pete, joining to offer the first full-fledged full-fledged credit card and lift pass combination. "We spoke with the folks at Visa, and they tell us this, is, the first . of its kind," said Al Noble, exec utive director of Sales and Ticketing at Park City Mountain Resort, a visa card which can be used both for retail purchases and as a lift pass at PCMR." He went on to explain that the new card can be used like a lift pass. "A cardholder can sign up for this feature at no additional charge and use Please see PCMR and Zions, A-11 f Niehtly Lodging Tally Projected Tally for the week of September 20 SDR Total Visitor Nights: 35,397 Weekly High: 6,897 (Fri.) Daily Average: 5,057 Year To Date: 1,705,057 Nightly Lodging Tally Estimates Occupancy At 35 Each window represents 1,000 visitor nights. Actual daily numbers num-bers have been rounded to the nearest 1 00. V Hon TOT WEB TFTDI -26,1998 o o o 0- o o o 'o m StOCk PerfbrminC6 Data for companies of interest to Utah investors, Sept. 14 - 17, 1998 Name 917 914 Name 917 914 Name 917 914 Name 917 914 ALTAGLD 1.75 1.69 DAWTECH 1.62 1.62 GULLLABS 2.37 2.06 NUSKIN 12.62 13.12 AMERSKI 7.50 8.50 DELTAAIR 103.25 104.31 INTRLNRE .23 .22 USXPRESS 12.25 12.00 AMSTORES 29.94 30.56 DYNATEC 3.50 4.50 INTLAUTS 3.06 3.50 QUESTAR 18.56 18.19 ANESTACP 16.37 17.00 DYNATRON 3.00 3.00 IOMEGACP 4.25 4.00 SIMONTRK 5.50 5.37 BALLARDM 19.94 19.94 EFIELEC 1.37 1.06 BRITESMILE 1.37 1.50 SKYWEST 18.87 18.00 BAXTER 58.00 61.75 EQUITYOL 2.00 1.94 LARDAVIS . .53 .69 SOSSTAFF 16.50 13.50 BIOMUNE .44 .50 EVANSSUT 14.50 14.62 MARKERIN 1.12 1.19 SOWSTAIR 20.12 . 20.00 CROWNENG : 1.37 1.37 FIRSECCP 18.87 19.25 MERITMED 5.87 5.87 TELSCORP .31 .34 COVOLTEC 9.62 9.87 FMEYER 41.50 39.87 MITYLITE 15.75 15.50 THERATEC 8.87 8.41 CORDANT 40.69 38.50 FRNKCOVEY 19.75 19.62 NATRSUN 15.62 16.50 UTDPKMIN 29.25 28.62 CYCL03PS .31 .31 GENVSTL 1.31 1.37 NOVELL 12.31 12.06 UTAHMED 5.69 5.37 Name 917 WEIDERNUT 10.00 ZIONBKCP 43.37 914 10.62 46.00 'Dow Jones Averages 30 INDUS 7873.77 7945.35 20 TRANS 2813.99 2805.14 15UTILS 292.49 287.04 Ths Utah stock report is provio-0 provio-0 by Derreix Reeves of Paulson Investment Co., Park City. o Piinino OO INCORPORATED 9j Don't Replace it, Clean it! 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