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Show I A I J ll All Ml WEDNESDAY, MAY 30, 2007 BUSINESS EDITOR Local Industry News & notes People on the Move Zions adds two managers in Spanish Fork Zions Bank hired Kathy Brandon as branch manager and Edward as assistant branch manager at its office at 190 N. Main St. in Spanish Fork. Brandon is responsible for managing daily operations including personnel, lending and keeping the branch in compliance. Christianson is responsible for building new client relationships, servicing existing clients, managing staff including hiring and counseling, and maintaining branch customer service. Brandon was formerly a relationship manager with Zions Bank's Women's Financial Group. She is currently a member of the Provo-OreChamber of Commerce and sits on Utah Valley State College's Women In Technology Advisory Board. She is also a member of the Santaquin Area Chamber of Commerce and the Spanish Fork Rotary. Christianson was formerly the branch manager of Zions Bank's Castle Dale and Huntington branches. Chris-tianso- n Bank of American Fork names new chair of audit committee, Bank of American Fork, which has promotes three officers 11 branch offices statewide including seven in Utah County, appointed a new chairman of its audit committee and promoted three other officers. R. Brent Anderson, a certified public accountant and retired audit partner with Grant Thornton LLP, has joined the bank's board of directors and will serve as chairman of its audit committee. Anderson has 32 years of experience as a CPA including 25 years at Grant Thornton, where he served community financial institutions, motor carriers, and direct sales, manu- A A A A A Dow Jones Nasdaq S&P500 Gold Silver Final Final 14.78 14.78 Final 1518.11 2.38 Per ounce $657.10 $2.00 Per ounce $13,158 $0,223 13,521.34 14.06 344 29 0 g eongheraldextra.com Grace Leong EXCHANGING THE DOLLAR Yen Euro Pound Canadian dollar Mexican peso Tuesday Friday 121.55 $1.3453 $1.9800 1.0734 10.8195 121.74 $1.3447 $1.9844 1.0792 10.7907 State fines Orem's iMergent registering as a business opportunity seller Grace Leong HERALD DAILY The state Division of Consumer Protection is threatening to shut down a small Orem company if it does not comply with the division's requirements. software maker iMergent Inc. and its unit StoresOnline Inc. were found to have violated the Utah Business Opportunity Disclosure Act when they sold "assisted marketing plans, and commenced business in (Utah) without having first filed the required information with the Division," Thomas Copeland, a presiding officer with the state division, wrote in a ruling issued late Friday. The state division also fined iMergent $2,500. If the companies violate the terms of the e order, they could face felony charges, the state division said. Jeffrey Korn, general counsel for iMergent, said the order "isn't effective until the company has exhausted all administrative appeals." "We believe the decision is incorrect. We fundamentally dispute that we even sell a business opportunity," Korn said. "We dispute that the Utah Consumer Protection division third-degre- has jurisdiction over us, particularly since we do not sell any software in Utah and our sales do not commence in Utah." The state division disagreed. "There is no dispute that (iMergent and StoresOnline) are engaging in business in this state. Their headquarters are located here. Their customer service is provided here," Copeland said in Friday's order. "Further reasonable it is to conclude that (they) use a See IMERGENT, D5 Flee It UP facturing and construction companies. He has served both locally and nationally on professional committees, which participate in the development of professional standards and practice policies for financial institutions. He also speaks on issues including strategic planning, internal control framework and Sarbanes-Oxleimplementation, and compliance for the Utah Bankers Association and the Western Independent Bankers Association. Additionally, Bret Bushman was promoted to branch manager at the Orem location. Formerly a vice presidentcommercial loan officer, he began his banking career at Bank of America in California in 1990. Since then, he has worked as a teller, new accounts representative, branch manager and commercial loan officer at several Utah banks. Tracey Larsen was named assistant vice presidentorganizational development and policy director at the bank's American Fork branch. She has more than 20 years of experience in the banking, training and development industries. Chaille Mackie is assistant vice presidentoperations manager for the Riverton bank branch and is responsible for its daily operations including teller supervision. Mackie has 15 years of banking experience including serving as a teller, new accounts manager and assistant operations manager at Bank of American Fork for five years. y GENE BLYTHEAssociated Press Jim Watson of Atlanta shops for a barbecue grill that has an infrared burner at a Home Depot store on Friday in Atlanta., Watson purchased one of the new units saying he had seen them used and they are "great". National Briefing Consumer confidence unexpectedly Infrared burners offer cooks more options Elliott Minor rebounds THE NEW YORK Consumer confidence bounced back unexpectedly in May, despite higher gasoline prices that could raise shoppers' worries about inflation, a private research group said Tuesday. The New York-baseConference Board said its Consumer Confidence Index rose to 108.0 in May, up from a revised 106.3 in April. Analysts had expected the reading to fall to 104.5. The May reading was the highest since March when the index was at 108.2. in confidence was due primarily to a "The bounce-bacbusiness conditions," more upbeat assessment of present-dasaid Lynn Franco, director of The Conference Board Consumer Research Center, in a statement. "Consumers' view of the job market, both present and six months from now, was little changed and did not provide a boost in confidence. The short-teroutlook remains cautious and rising gasoline prices are having a negative impact on consumers' inflation expectations." Franco added, "All in all, confidence levels continue to suggest growth, albeit at a slow pace." d k y Stocks of Local Interest ASSOCIATED PRESS For a quarter cenALBANY, Ga. tury, chefs at pricey steakhouses have been searing meat on burners that cook with infrared energy. Now the technology may be coming to a backyard barbecue near you. With the expiration of a key patent, major gas grill manufacturers, includhave ing market leader Char-Broi- l, scrambled to bring infrared cooking to the masses with models in the $500 to $1,000 range. Previously, such grills cost as much as $5,000. "Infrared is really hot," said Leslie Wheeler, a spokeswoman for the Hearth, Patio & Barbecue Association, an industry group in Arlington, Va. "They're great for searing and then either you turn it down or move over to another burner for cooking." The grills are still powered by propane and have traditional gas burners that heat mostly by convection or hot air. But they also can cook foods with radiant heat generated by one or more "Infrared has done to the grill business what the microwave did to the indoor kitchen." Rob Schwing Char-Bro- il vice president il "It's terrific," said Wheeler, who owns an infrared grill "Grills nowadays give you many options." Cooks can sear steaks or hamburgers, steam vegetables and give their meats a smoky taste by tossing a few wood chips onto the burner, said Rob Schwing, a Char-Brovice president. "Infrared has done to the grill business what the microwave did to the indoor kitchen," he said. "It's presenting consumers with a whole new way of cooking." infrared burners. (Infrared falls between visible light and microwave energy on the electromagnetic spectrum.) Char-Brosays its advanced burners operate at 450 to 900 degrees, hotter than the 450 to 750 degrees of standard gas burners. And unlike charcoal, which can require 20 to 30 minutes to reach its cooking temperature, heat from the infrared burners can be adjusted il 700-degr- quickly. Most leading grill makers, including Solaire, Weber and Whirlpool Corp.'s Jenn-Aialso offer grills that use Bill Best, founder of Thermal Electric Corp. of Columbia, S.C., developed the technology in the 1960s, primarily to give automakers a faster way to dry the paint on cars. That led to high-en- d grills for professional cooks and wealthy consumers. When his patent expired in 2000, grill companies saw a future in America's backyards. But original infrared burners and some offered currently to consumers contained ceramic material that was and hard to clean, prone to flare-up- s r, See INFRARED, D5 Yesterday's performance of selected publicly traded companies SVM COMPANY TR aTOTT ABSY ABSOLUTESKY ABX SYM COMPANY OTff MYUJ MynadUeUInc jHH4 Jil 0.175 0.005 NATR NATURES 11.45 0.25 BARRCKGOIDCP 28.61 0.14 NETM AEP AMER ELECTRIC POW CO 47.34 0.09 NOV! NetManage, NowHLInc AIG AMER INTL GROUP 71.89 006 NUS AMD ADV MICRO DEVICES 14.60 0.16 AMGN Amgenlnc. 54.61 0.06 BAC BK OF AMERICA 51.19 0.01 LAST CHANGE BAM BROOKFIELD Bli BALI CP C CITIGROUP INC INC CP ASSET MGT INC LAST CHANGE SUNSHINE 5.13 0.03 7.46 0.14 NU SKIN ENT INC 17.50 0.02 NWN NORTHWEST 50.25 0.37 OMTR Onrature, 1R27 PCG PG&ECP 49.01 035 008 Inc. NAT GAS he 63.88 0.21 PFE PFIZER INC 27.56 0.03 54.37 0.10 0 QWESTCOMMINUINC 9.97 0.01 54.91 Oil RZ RASER TECHNOLOGIES 7.05 021 CBAG CRESTED 2.75 0.00 SCOX SCO Group, CMCSK Comcast Corporation 26.86 0.15 SCPWT SCOTTISH PWR PLC CVX CHEVRONCORP 80.71 0.42 SHID Sears DAL DELTA AIR LINES NEW 19.09 0.33 Sll SMITH DIS WALT 35.59 0.44 SKYW DNEX Dionex Corporation 71.92 0.20 SNTO SkyWestlnc Sento Corporation ERIC LM 38.12 0.35 STR OUESTARCP 105.18 1.41 ETR ENTERGY 111.88 0.97 SY SYBASE INC 23.53 0.07 FC FRANKLIN 7.65 025 T AT&T INC 40.49 0J7 GE GEN ELECTRIC CO 37.40 0.16 TGT TARGET CP 60.80 0.04 HRB HR 23.54 0J5 TRV THE TRAVELERS CO 54.45 0.12 HSIC Henry Scheillnc 5235 0.03 UDft UDRINC 30.06 1.51 IBM INTL BUSINESS 105.91 0.73 UNH UNITEDHEALTH GROUP 54.57 0.16 IMC Intel Corporation JetBlue Airways Corp 34.47 0.08 5.61 021 1.12 025 JBLU CORP C Ericsson Telephone CP COVEY CO BLOCK INC K MACH 22300.144 Inc. (The) Holdings INTL Corp INC USB US BANCORP 10.88 0.04 USEG US. 79.70 0.44 USNA USANA 51.08 0.575 UTMD Utah Medkal Products Energy Corp. 1.44 0.21 15.85 0.00 180.14 0.75 54.34 0.30 26.83 0.13 2.11 0.05 PENNEY JWN NORDSTROM KRON Ktoito Incorporated 54.84 0.10 VZ VERIZON COMMUN 4133 3225 4320 LEE LEE ENTERPRISES WACHOVIA CP 54.47 0.05 SOUTHWESTAIRUNES WEN WENDY5 INTL INC 39.44 0.40 MCK MCKESSON 62.55 WFC WELiS FARGO & 36.15 002 MER MLCOCMNSTK 93.14 035 022 0.19 129 WB LUV 2522 1425 WMT WAL MART STORES 46.94 0O3 MITY MITY 2125 WNI SCHIFF NUTRITINTL 6.85 0.02 11.83 0.06 X UNITED STATES STEEL MSFT Enterprises Merit Medical Systems Microsoft Corporation 0.10 30.79 031 XEL XCEL ENERGY INC 22.78 0.14 MU MICRON 11.96 0.01 2JON Zions Bancorporabon 79.97 0.12 MMSI INC CORP Inc. TECHNOLOGY Sandy Shore THE ASSOCIATED PRESS In a union of DENVER two large meat-processi- companies, a Brazilian firm announced Tuesday it will acquire Swift & Co. in a $225 million cash deal that will give the combined company greater access to expanding markets and operations on three continents. J&F Participacoes S.A., which controls Brazil's leading beef exporter Friboi, won out over other bidders for Swift, which was highly sought after because not many plants are put up for sale in wake of US. industry consolidation, analysts said. Swift, headquartered in Greeley about 50 miles north of U.S. Denver, is the processor of beef and pork and has plants in six states and an operation in Australia. "From a competitive market meat-packagi- KP CO HOIDIN Brazilian firm to buy Swift meatpacking co. Health Sciences CO 0.70 110.10122 third-large- st standpoint Jhink it's good," said Steveleyer, president of Paragon Economics Inc., an ! 6 ID Swift & Company Workers from the Swift & d livestock marketing firm. "We really didn't need to lose another company so this keeps them indepen' dent." J&F will buy Swift from its owners, HM Capital Partners of Dallas and Booth Creek Management Corp. It will assume $ 1.2 billion in debt Iowa-base- Co. beef plant change shifts Tuesday, in Greeley, Colo. In a union of two Vail-base- d and pay transaction-relateexpenses. large the largest beef processing operation in the world. Closing, which is contingent upon antitrust reviews, is expected mid-Jul- Sao Paulo-base- d J&F is the controlling shareholder of JBS, which is the largest beef processor in Latin America, with 23 plants in Brazil and six in See SWIFT, D5 meat-processi- companies, a Brazilian firm announced Tuesday it will acquire Swift & Co. d The companies said the combined company will become in I I in a $225 million cash W 'Slt J MM deal. JIMRYDBOM Bociated Press |