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Show PAGE 6 THURSDAY, SEPTEMBER 16, JAM BUSINESS EDITOR l Grace Leong V V V Dow Jones Nasdaq S&P500 Gold Silver Final 10.231.36 -- 86.80 Final 1,896.52 -- 18.88 Final 1,120.37 Per ounce $405.00 -- $0.70 Per ounce $6,271 . $0,072 .y.- Local Industry News & Notes -7- .96 2004 ... 0 gleongOheraldextra.com 344-29- 1 THE DOLLAR EXCHANGING Tuesday WcdMfday 110.02 $1.2154 $1.7759 I. 2970 II. 5220 Yen Euro British pound Canacfian dollar Mexican peso 109.57 $1.2258H $1.7976 I. 2923 II. 5650 Appointments Lindon's KeyLabs appoints new chief operating officer KeyLabs of Lindon named John Homer its new chief operating officer. He will manage several of KeyLabs' quality assurance, risk assessment and management projects for the corporate information technology departments of major clients such as Hewlett-Packar- American Airlines and MSNBC "Companies are increasingly making efforts to address application performance issues as early as possible in the development process, both to avoid the problems that can spell disaster for IT budgets and also to optimize new product returns, said Mike Fah-ner-t, KeyLabs' president and chief executive. Wells Fargo names new small business retirement plan officer Jeannett Maw was named small business retirement plan specialist for Wells Fargo & Co. in Utah. She will focus on developing and ' implementing retirement plans for businesses that employ between 10 and 100 people and that have less than $3 million in retirement plan assets. Maw joins the Wells Fargo team from Zions Bank, where she had served as a 401(k) business development officer and retirement plan relationship manager. She was also a former retirement plan implementation manager for Fidelity Investments. Technology ML Corda Lindon technology company gets five new OEM clients Technologies of Lindon agreed on Wednesday to provide data presentation solutions that will be incorporated into the product lines qf five original equipment manufacturers Corda's new OEM partners include Cenrrvia, Endeca Technologies, Managed Objects Solutions, Management yentures Inc. and the Reeher Group. "Our customers and partners often tell us that their sales reps begin product demonstrations by showing Corda's graphs arid maps. Our software has added the dynamic and visualfy-stunnincharting, graphing, mapping and PDF functions their products had been lacking," said David Vandagriff, Corda's vice president of Ca midtgwn Village - x Airline 4, Image courtesy of Tower Development g marketing. -- Delta doubts viability about airline's ability to continue Delta revised its annual report on Wednesday to reflect its growing financial difficulties and the possibility of seeking bankruptcy protection in the near .Air Lines Inc. term" The airline said that due to recurring losses and the increased risk of a Chapter 11 filing, its independent auditor, Dekutte & Touche, has reissued its report "to raise substantial doubt about the company's ability to continue as a going con-- , t te 11 Construction has begun on the $75 million, mixed use project in Qrem which offers a bright future for development on State Street. cern." The announcement came as chief executive Grinstein backpedaled from his earlier hope flat an agreement with pilots on stemming early Gerald Grinstein rotiApmpnts railri hpurnrlrori nut hw nrpptr's pnn In a news release, Delta said that since filing its 8-ac- annual report with the Securities and Exchange Commission for the year that ended Dec. 31, "significant events have occurred which have materially adversely affected Delta's financial condition and results of operations." re, Grace Leong V DAILY HERALD National Briefing to raise oil production ceiling OPEC agrees OPEC ministers on Wednesday agreed to increase their ceiling for oil production to help bring down stubbornly VIENNA high prices in a decision that traders and analysts dismissed as symbolic because the cartel already is pumping more than its new target. In a meeting at its headquarters here, the Organization of the Petroleum Exporting Countries set a ceiling of 27 million barrels a day effective in November, an increase of 1 million barrels. MSTAR.NET to provide service through UTOPIA SALT LAKE CITY A second company has signed on to compete with AT&T to provide services over Utah's high-spee-d fiberoptic UTOPIA network. Salt Lake City based MSTAR.NET, one of the largest regional d Internet access, service providers in Utah, will offer telephone service, video and other online services. -- high-spee- Construction began Wednesday of the Midtown Village in Qrem, a $75 million, mixed-us- e seven-stor- y project with condaniniums, shops and offices that city officials say could set the pace for future development along Orem's State Street. Designed by Ken Harris Architect of Provo and built by Ellsworth Paulson Construction of American Fork, plans for 320 S. State St. feature 600,000 square feet of space, including 100,000 square feet of retail space on the first floor and another 100,000 square feet of commercial space on the second floor. Tower Development Co., which owns Midtown Village, has completed the building of its corporate headquarters and marketing office at 300 S. State St. Construction of the southern portion of Midtown, which includes residences, shops and offices, started Wednesday and is scheduled to be completed in late 2006. Some 243 one-- , two-- and condonuniums win occupy 400,000 square feet of residential space from the third through seventh floors of the project. Prices range between $165,000 for a condo, and between $ 195,000 and unit. $200,000 for a two- - or A penthouse will cost about performance of selected publicly traded companies Yesterday's SYM COMPANY LAST CHANGE SYM Alcoa mc 30.41 029 MYGN Myriad Genetics 16.91 14.97 0H0 164 0.04 019 052 0.09 ABS Abertson's.lnc 24.00 0.13 NATR Maine's SireNnePrad ABX BarridtGold 19.59 0.27 NETM AEP Arar Electric Pwr 32.56 0.15 NOVl NetManagelnc Novel Inc NUS NuSdnEntoprta'A' NWN Nontwest Natural Gas 31 O03 &09 028 4.19 025 PGM Corp 29.70 039 027 059 021 .631 AKj Amerind Group 7122 AMGN AmgenhC 58.15 AWA AimricaWestHoUngsB' AWE ATSTWretesSwj Hffl 0.02 KG HE Ffctr.tac 31 BAC Bank of America 44.17 018 PTZ Murine 48.75 BU MCorp BeCouthCarp 35.90 1.06 Q 27 J3 0.12 R0 S CtestCommuniatiamlng' 3.17 51.68 Royal Dutch Parol ADR SeaRoeburJc 4029 BN 39.06-02- BantaCbrp ' 2&S JO 26.06 042 056 Group 3.74 4X01 W 5925 1&55 078 019 14.15 O05 6J0 O10 041 026 015 018 026 O03 -- 062 46.98 021 SBC SKCorrmunicatlons CBAG CMgroupInc CRESTED CORP 029 0.02 SC0X SCO CMCSA Comcast 2O04 Smr ChevronTexacoCorp 51.04 003 018 SI CVX SK0 Shcrjko Stores DAI DetaAaUnes SKYW SkyWesthc Disney(Wak)Co 024 SNT0 DNOt DkmaCorp 4.10 2101 4857 O01 D6 ERKY Erksson(LM)TtrB'ADS 28.08 ETR 6O90 STR Quests Cop fC EnttrgyCorp FrarMn Covey 086 018 Sen) Corp SaMfchPnwADS StPautTmcknCot 1.85 Oil SWFT SvM Transportation GDW Golden West Hnl 112.70 3.75 SY Sybaehc 14UM GE Gtnl Electric 3353 029 T ATSTCorp MCA HCAik 3908035 1529 4559 3924 C CTA' HRB Block (H&R) HSK Set IBM Ml WTC Intel Corp JCP Penney 47.65 (Henry) Bus. MCX Lonpfewflbt LuMTethnologNt SouAwtstMtnK ' McKesson Corp MER Meirl Lynch LUV MITY MrTYEnferprisci MMSI Merit MSFT MU UrMrtaMl Group USB Ui Bancorp UEnsCorp 12.10 037 . 4449 1165 332 , " MedtalSyslffm Moose Corp MooiTtchnolocy 27.60 5150 15S5 1653 27.19 39.74 IFB IU UNH IK Nordstrom, Kronoste UtV 8637-03- 022 053 034 005 009 024 071 075 023 002 025 14.15 . : . . 2953 3412 4002 1827 TanjctCop ' Unocal Cop Urri 2042 3735 HWN TGI UDR Q JWN 087 STA ,6220-05- Machines O ' SPI USEG Dominion We 19.77 Tr 7028 &01 USAfMfMttSdMOK 32.78 UTMD LMtdkalPredudl 1911 VZ WmOtmriaOt VkntiH . W ' WMT WM ' X - XU ; ' BOH 39.95 ; WTC. . Fargo rt , Stow WaidtrNuWfcnlntfA ' u . '' JWErwgy . US 015' 017 034 046 O07 2.13 U5NA WEN O00 , ' ' ' J&Ot $9.10 5251 140 ' Hmtmap :::"t."v ' 3tM 17.17 (120 ,,,-- 038 O009 086 -- 023 031 ' 0i 024 005 13) -- Ui s A - GRACE LEONQDaily Herald Midtown VUlagi developer Larry Myler, right, is flanked by other seven-stor- y Construction of the $75 million, Midtown Village mixed-us-e . project, which includes condominiums, shops and offices, began Wednesday. m $700,000. AA BLS three-bedroo- m ' its new office. Myler said the project is key to "ridding the city of a very blighted, crime-riddearea" and provides an opportunity for its residents to "work, eat, play and shop right where they live." The trend in living space for decades has been to locate people further and further away from the center of a community. We see much merit in bringing back the core community back to the center of . town," Myter said LAST CHANGE COMPANY ' J three-bedroo- m Stocks of local interest i Retail opportunities . n Up to 75 jobs in areas including groundskeeping and maintenance will be created by Tower Development and an additional 250 jobs are seen generated by its retail and business tenants, said Midtown Village developer Larry Myler. The groundbreaking of Midtown began Wednesday after its developers signed leases for more than half of the building's commercial and retail space and pre-solmore than 50 percent of the residential Midtown's inspiration area or 122 oondeminium units. ' To date, several retail tenants have conMyter said he drew his inspiration for tracted with Midtown Village. They in-Midtown from studies of several similar--' dude the Hale Center Theater, which is re- type projects such as the Gateway Mall in theater at 400 Salt Lake City and the Orenco Station in locating from a N. Orem Blvd. to a 462-setheater at Mid-towOregon. "Where the Gateway has more Other retailers include Red Hanger big box retail stores and is weighted more toward retailers, Midtown hamore bou- Dry Cleaners, Caffe diGelato, Crescent City Beignets, Sea Sea & Co. steak and tique stores and is weighted more toward V ' . seafood restaurant, Cold Stone Ice Cream, its residents," he said, x Stansford Sainsbury, Orem city's dlrec-to- f Johnny B's Comedy Chib and Canyon Cove of development services, agreed. "Mid-tow- n Spa & Salon. Midtown is looking for up to 30 tenants will undoubtedly be compared to ' in the medical, legal financial and highRiverwoods, but they are two different tech services. To date, several businesses, kinds of development. Riverwoods began as a retail center, which later added resiincluding Equity Title Co., Tinsley Invesdential Midtown was conceived as Irving tigative Services, Horizon Tile and Syner-gisInc., have already found homes at , space where its residents could live m imMidtown. Prudential Utah Real Estate, mediate proximity to the places they work, which has three offices in Utah County, eat, shop and play , ' will relocate its main office at 240 N. Orem Qrem city manager Jim Ream said the ' Blvd. in Orem to Midtown, In addition to project is seen generating about $500,000 in sales and property taxes annually. ' relocating 160 real estate agents, Prudential plans to grow to work force to 200 at "We'll be watching. Midtown Village close- - . . d five-stor- at y rs n. - ; : m . ly to see if it can be used as a model for future development along State Street in Orem," he said. Construction wiU start on the southern portion of the project near State Street,'' move west to Orem Boulevard and then eastbound toward State Street in the area now occupied by a Supersonic Car Wash. The car wash will relocate to 386 N. State t Street and open in October. Separately, Myler also plans to build a similar mixed-us- e project called North Tower at 1955 N. State St. in Orem. The 5.7 mixed-us- e acre, project will in-dude 185 condominiums and 64,000 square feet of commercial and retail space. : ' Rick of Bastian, one of the Midtown, wiU direct development efforts of the North Tower project. Other of Midtown include Dan Christensen, i David Runnells, Don BLickwekler and ,: LynnDayton. Mayor Jerry Washburn, who spoke at Midtown's groundbreaking Wednesday, described the project as an anchor for central Orem, and sees North Tower as an anchor for north Orem. Brad Ovenhoe, president of Red Hanger Cleaners, which has 16 Stores in Salt Lake and Davis counties, plans to open its first location fa Utah Qwnty at Midtown Vfl- lage because of favorable demographics and traffic from main thoroughfares, State Street and Orem Boulevard. , ',., ; - j ."We've been kking to open in the area for two years. This is the first time We're ; located to a major dwelopment as opposed to being in a stand-alon- e location," he said. . , ; . nniTin-- m -- n- 'fflr |