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Show PACE 4 2nily$Hcrot& SATURDAY, MARCH 10, 2007 BUSINESS EDITOR National Briefing Rocky Mountain Institute names new A V A V V Dow Jones Nasdaq S&P500 Gold Silver Final Final Final 12,276.32 2387.55 -- 0.18 1402.85- Per ounce $650.00 -- $3.40 Per ounce $12,870 -- $0,147 15.62 0.96 - gleongheraldextra.com 344-291- 0 EXCHANGING THE DOLLAR Yen Euro Pound Canadian dollar Mexican peso Friday Thurtday 118.15 $1.3115 $1.9316 1.1723 11.1400 117.14 $1.3135 $1.9293 1.1807 11.1712 Refinery profits double, gas prices rise CEO David R. Baker A former software executive has been ASPEN, Colo. named chief executive officer of the Rocky Mountain Institute energy think tank, replacing Amory Lovins, who will become chairman and chief scientist, the organization said. Michael Potts, 50, former CEO of American Fundware and managing partner of Gal way Investments, started in the new fornians now pay $2.96 for a gallon of regular, up 44 cents since the start of February. SAN FRANCISCO Profit And they play a part in record muMbillion-dolla- r margins at California's gasoprofits of line refineries are soaring. And major oil companies. Calif ornians also pay far they're taking pump prices more than drivers in other along for the ride. states do. The state's average Refinery profit margins now is 45 cents higher than have more than doubled since last fall, according to one the national average. Usually, rough measurement, and now the difference is more like 25 cents. stand at $39 per barrel on the Refineries don't release preWest Coast. That's more than double their average of $17 for cise profit figures. But the marthe last five years. gins can be tracked, roughly, Bulging refinery margins by measuring the difference are one of the reasons Cali- between the cost of the crude SAN FRANCISCO CHRONICLE position Thursday. of RMI, to foThe shift will allow Lovins, 59, a cus more on speaking and consultation work, the organization said. nonprofit, specialRocky Mountain Institute, a izes in efficient use of resources. Chrysler recalls nearly 500,000 vehicles WASHINGTON After dozens of reports of fires in Dodge Durango and Jeep Liberty sport utility vehicles, DaimlerChrys-le- r AG's Chrysler Group recalled nearly 500,000 vehicles Friday. Chrysler said it had received 66 reports of fires in Dodge model years because of Durango SUVs from the 2004-200- 6 electrical overloads in the driver's side instrument panel below the dashboard. The automaker said it was recalling 328,424 Durangos. The automaker was also recalling 149,605 Jeep Liberty 7 model years to fix the SUVs from the conditioning blower motor. Chrysler had received a dozen reports of fires from Liberty owners. In a third move, Chrysler said it was recalling nearly 11,000 Dodge Avenger passenger cars from the 2008 model year to fix problems with the front driver and passenger side door latches. 2006-200- Grace Leong season has been plagued by unexpected, sometimes bizarre problems. Earlier this week, refinertwo Los Angeles-are- a ies lost power when an oposblend sum and a raccoon broke into unique, pollution-fightin- g of gas have cranked out 7.8 separate electrical substations percent less gasoline since the and electrocuted themselves. Consumer advocates call start of February than they did in the same period last year. many of the refinery problems a sham. The oil companies, That smaller supply brings they say, are limiting gasoline higher retail prices. Gasoline production always supplies to drive up prices and profit margins, just as dips in February, when California refineries perform maintepower companies did during nance and switch from winter the state's electricity crisis six to summer blends of fuel. But this year's maintenance See GAS PROFITS, D3 oil refineries use and the price they charge for their finished products. Why the jump? The refineries that make California's Decadent dinghies ir Delta considers flights Utah-to-Euro- pe Delta Air Lines is studying the possiSALT LAKE CITY flights, perhaps in 2008, as it prepares bility of to exit bankruptcy, an executive said. "You typically analyze these things during summer and early fall and announce them in October for a startup in the spring," said Jim Whitehurst, chief operating officer. "It's in analysis right now," he said. "Salt Lake is our -largest domestic hub. It is certainly one where we want to international service." provide long-hau- l, In the past 18 months, Delta has slashed costs, increased revenue and undertaken a significant expansion of international flights, all while rejecting an unwanted takeover by US Airways Group. Utah-to-Euro- - second- If Florida's orange crop even lower this year Florida's orange crop is expected to ORLANDO, Florida figures, the drop 11 percent more than last year's already-lofederal government said Friday, as experts said groves have t yet to recover from the devastating 2004 hurricane season and cold snaps. The U.S. Department of Agriculture predicted Florida's crop c nnnn AT :n: l l r ioz, iiuiuuii uuxes ui uiaiiges iui mc lvvq-v- i wuuiuJ ue ioo seusuu, down from 147.7 million boxes last year. Before two nasty hurricane seasons, the state was averaging about 220 million boxes, each weighing 90 pounds (41 kilograms). "This crop is small this year because we still have a hangover from hurricanes and frost damage that happened around Valentine's Day 2006," said Tom Spreen, chairman of the Food and Resource Economics Department of the University of Florida. REINHOLD Kent Ackart, of Kissimmee, Fla., loofes Show in Orlando, Fla., on Saturday. The smooth-sailin- g Phil Davis Unemployment down slightly for February WASHINGTON THE dropped slightly last U.S. unemployment labor month and hourly wages rose, evidence of a market that eased many investors' concerns about a possible y economic slowdown. New data from the Bureau of Labor Statistics showed the unemployment rate fell to 4.5 percent, from 4.6 percent the month before, as businesses and government created 97,000 new jobs. Hiring in the health and hospitality industries and a spike in government employment made up for a drop in construction jobs and a continued decline in manufacturing employment. Stocks of Local Interest performance of selected publicly traded companies Yesterday's LAST CHANGE STM COMPANY AA ALCOAINC ABSY ABSOLUTESKYWCNEV ABX BARRICK GOLD CP AEP AMER ELECTRIC AK3 AMER INTl GROUP AMD AMGN BAC BK OF AMERICA BUL BALL CP 45.90 C CmGROUPINC CBAG CRESTED CORP CMCSK tonus! CVX CHEVRON D6 WALT DNEX tm ERIC ETC LAST CHANGE 071 NATR NATURES 0.15 0.00 NETM 27.96 0.02 NOVL NetManage, Novel Inc. POW CO 45.15 0.01 NUS NU SKIN ENT INC 16.800.10 69.07 0.29 NWN NORTHWEST 43.44 ADV MICRO DEVICES U20 O.01 OMTR Onwtunj Amoenhc 6036 UI KG PG&E 50.95 0.18 0.14 PFE PFIZER INC 0 QWEST 50.33 0.17 RZ RASER TECHNOLOGIES 2.70 0.01 SC0X SCO INC CP SUNSHINE he NAT GAS 0.04 5.15 0.01 6.43 0.16 0.38 17.390.39 Inc. . 4615 CP COMM INTl WC Ire Gro 11.76 (The) 021 25.41 0.00 8.70 0.07 4.97 0.04 0.95 0.07 26.00 0.10 SHLD Sears HokJnjs 180.46 058 68.47 0.01 SI SMITH INTL INC 43.60 0.04 34.37 032 SKYW SkyWtlnc 26.52 0.76 Corporation 64.10 0.52 SNTO Stnto Corporation 2.11 0.00 IMEncaonTefephont ENTERGY CP 34.71 0.14 SPI SCOTTISH POWER 97 JB 0.05 STR QUEST AR CP Corporation CORP C FRANKUN G GEN ELECTRIC CO HR8 HR HSK Henry SAnatnt BM INTL BUSINESS HTC HH Corporation J6LU JetBlue Airways (CP PENNEY JWN NORDSTROM COVEY BLOCK )C 147560001 CO K fop NC KmnoshcorporaWl LEE LEE ENTERPRISES 24.50 4.03 2U2 T AUTNC 0.04 TGT TARGET CP 3655 6138 93it 0 002 0.28 TRV THE TRAVELERS CO 51.68 0.46 19.10 0.13 UDR UNITED DOMWRLTYTR 3131 025 11.62 021 0.55 UNH UWTHJMEALTH 53.00 033 USB US BANCORP 1.11 USEG Ui tnerCorp. 0.44 005 0.06 4.08 USNA USAMrtottSonos UTM0 Utah W VERIZON COMMUM 36.45 L03 2470 1507 5607 SOUTHWEST MCKESSON MEft MLCOCMNSTK 82 95 tmb&y&mU. 1930 026 1297 024 2729 4X13 1142 0X9 3356 4.12 MaMtifca15ysml, MSfT MbDMRCotparaMn MU MICRON MYGN MynarJOnMalrc TtCHNOLOGY GROUP MfAal Products. 0.19 35.53 OCB 541 4.06 5959 0.49 345940.104 WB WACHCMACP 55.54 024 019 WIN WENDYSWTIWC 3121 0.54 0.30 WFC WILLS 34 50 O WMT WAl 4 46 WNI SOW X UNITED STATES XEL XCB. ENERGY WC 4742 162 9124 U.43 DON Sort Banaponton 15.82 ". i fARGO I CO MART STORES NUTRTT Ntl JTEE ASSOCIATED PRESS ORLANDO, Fla. Harry St. John had his eye on a sleek fishing boat as he browsed for bargains at a recent boat show. But his mind was on Wall Street. "It does worry you when you see what the stock market did last week," the Hernando Beach retiree said of the recent dip in the bull market. "Gas is getting high again. That's all going to be taken in to play. I'm not buying unless the price is right." With consumer confidence wavering, shoppers like St. John are balancing the desire to get out on the water with the $25,000 average price of a new boat. Boat sales are down and the projection for 2007 is flat or down slightly from 2006, said Thorn Dammrich, president of the National Marine Manufacturers Association "Nobody needs a boat," he said. "It's a discretionary purchase. It depends on people feeling good." The slump has also hit the boat retail d industry's only giant Clearwater, MarineMax but the company seems to be shaking off the worst of it. Fla.-base- Avoid late-nig- ht Marshall Loeb MARKETWATCH 30.71 MCX MMS1 0.51 SvTrarnporMonCa, Lfl , 0.03 84.55 SYBASE INC LUV AIRLINES 59.12 SY LONGVEWRBREC0 CORP PIC SWFT 30.74 , ' 0,13 80J1 5157 4129 CO HOLDW Cop 3432 5179 MAOi KRON f COMPANY 33.20 PC MTTY SYM at the bridge on a Meridian Boat 01 0fl1 4.73 002 4.04 NEW YORK If you're in debt, there is a good chance you're not sleeping well either. And companies ready to prey on your vulnerabilities know it. Flip through the channels late at night and you're likely to see countless commercials for services eager to help you solve your debt problems. "It's no coincidence that companies advertise late at night," says Nick Jacobs, a spokesman for the National Foundation for Credit . Counseling. And when you're knee-dee- p in the MarineMax display MATAYAssoclated Press at the central Florida Boat pitch to selling boats The $1.2 billion corporation has more than 2,200 employees at 88 retail locations selling everything from $20,000 starter boats to multimillion dollar yachts. "They are dramatically oirtperforming the industry," said Brian Rayle, an analyst with KeyBanc Capital Markets. "Even "People are more sophisticated consumers. It's instead of though the market was down 15 percent, their same store sales were up 7 percent. They are continuing to take market share even in the trough." The company has Wall Street's attention. Shares of marine manufacturing giant Brunswick Corp. slumped in January when MarineMax, the only publicly traded boat retailer, lowered its 2007 profit expectations. For the quarter that ended Dec. 31, MarineMax posted a loss of $3.8 million, or 21 cents per share, compared with earnings of $664,000, or 4 tents per share, during the year-ag- o period Sales climbed 30 percent to $234.7 million from Bill McGill MarineMax president and CEO "Store traffic is usually down when there is bad news out there," McGill said. McGill started his professional life as an aerospace engineer. He even hoped to be an astronaut. But when the Apollo-er- a ended and aerospace cratered, McGill, an decided to do something avid water-skiehe loved He got into the boat business. He recognized right off that customers wanted to spend time on the water, not changing their engine oil or stressing about running aground in unfamiliar wa$181.2 million. ters. The company said employee and prodMarineMax rose to dominate the indusuct incentives and increased spending on try on that simple idea: Customers will marketing hurt its operating margins. MarineMax chairman, president and CEO pay premium prices for more fun and less Bill McGill also said a slump in the housing See BOATS, D3 market has hurt the worst. r, television debt-pla- n sion also advises consumers stressed about the bills piling up, it can be tempting to turn to against choosing a a service that promises to conprogram without solidate your debt and save you meeting with a certified credit counselor first. Dont sign up thousands of dollars. for a consolidation or manageBut before choosing a ment program before spending program on a time with a credit counselor whim, it's wise to be skeptical. who thoroughly reviews your Companies that make such tall claims are probably too good to financial situation. You should be true. Instead, advises Jacobs, receive customized advice. Be especially wary of it's better to find help from a or counseling reputable organization such as theNFCC organizations that: or The NFCC can help you enI Charge high roll in a debt management plan monthly fees for enrolling in credit counseling or a debt that meets NFCC standards. To find a program, visit www. management plan. Pressure you to make "volhfcc.org. The Federal Trade Commis untary contrUxitkms," another up-fro- zzzz 1 pitches name for fees. I Wont send you free information about the services they provide without recfiiring you to provide personal financial Information, such as credit-caraccount numbers and balances. I Try to enroll you in a plan without spending time reviewing your d unandalsituation. I Offer to enroD you in a plan without teaching you budgeting and . skills. I Demand that you make payments into a plan before your creditors have accepted you into the ' rnoney-managerne- program. |