OCR Text |
Show PAGE 6 THURSDAY, JANUARY 24, JIM BUSINESS EDITOR Local Industry NEWS & NOTES ........ .... Grace Leong V Dow Jones Nasdaq Final Final 8805.68 12,270.17 298.98 144.51 : gleongheraldextra.com EXCHANGING S&P500 Gold Silver Final , 1338.60 28.10 Per ounce Per ounce $882.50 -- $7.10 $15,902 -- $0,128 . 344-291- 0 2008 Yen Euro Pound Canadian dollar Mexican peso THE DOLLAR Wednesday Tuesday 105.75 $1.4593 $1.9526 1.0300 10.9426 106.48 $1.0974 $1.9625 1.0266 10.9327 Real Estate CB Richard ElCB Richard Ellis buys Redford Properties lis Group Inc. will acquire the assets of Redford Properties, which operates CB Richard Ellis's affiliate offices in Salt Lake City, Fresno, Calif., and Albuquerque, N.M. Terms of the deal weren't disclosed. It is expected to be completed in about 45 days. The acquisition is part of CB Richard Ellis's strategy to acquire affiliate companies in ' markets with growth potential The existing local managers Mark Bouchard in Salt Lake City, Jim Patterson in Fresno and Jim Chynoweth in will continue to manage these offices. RedAlbuquerque ford Properties has employs 166 workers, including 50 sales agents. People On the Move Utah Farm Bureau Federation president to Leland Hogan, president of the Utah Farm national group Bureau Federation, was to the American Farm Bureau Federation board of directors for a second term. Hogan, who owns a cattle and hay operation in Tooele term as presiCounty, was elected to his fourth two-yea-r dent of the Utah Farm Bureau in November. Bob Stallman was president to the American Farm Bureau, and Barry Bushue, a nursery and berry producer from Oregon, was elected the group's vice president. Stallman, a cattle and rice producer from Columbus, Texas, was elected to a fifth two-yeterm as president. Bushue, from Boring, Ore., was elected vice president to succeed Steve Appel, a wheat and barley producer from Dusty, Wash., who retired. In addition, two state presidents California Farm Bureau President Doug Mosebar and Oklahoma Farm Bureau President Mike Spradling were elected to the American Farm Bureau's board of directors. Thirteen other state presidents were also to the board. ar Airlines hamp ered by fuel costs Harry THE R. Weber results that were hampered by ASSOCIATED PRESS jet-fu- el costs. Southwest Airlines Co. reATLANTA Airline conported its profit almost doubled --- ;? solidation may not be the in the fourth quarter, but said panacea for the industry amid fuel costs in the current quar. . ter will rise substantially for persistently high fuel prices, but observers say it would help the Dallas-base- d carrier. by removing domestic capacity "We remain worried by high from the system. oil and the U.S. economy," As several major carriers Standard & Poor's airline .... talk about possible combinaanalyst Jim Corridore said in a Delta and research note. tions, two airlines Southwest Delta's president and chief gave investors . another dose of reality in say1 financial officer, Ed Bastian, said his airline believes cuts in ing Wednesday their future results will continue to be domestic capacity and other cost controls will help offset weighed down by the cost of fuel. the impact on Delta from highDelta Air Lines Inc. officials er fuel prices. RIC FELDAssociated Press were mum on the status of Domestic capacity cuts A Delta Air Lines jet passes a line of other aircraft waiting to talks with Northwest Airlines would likely impact Delta's take off at Hartsfield Jackson Atlanta International Airport hubs in Salt Lake City and CinCorp. and UAL Corp.'s United in this Nov. 10, 2005 file photo. Delta Air Lines Inc. reported Airlines about possible combicinnati, said Glen Hauenstein, Wednesday it was hampered by high fuel prices in the fourth nations, as the Atlanta-base- d but was able to post a narrower loss. quarter carrier reported fourth-quartSee AIRLINES, C5 . -- . Retail Massage Envy opens in South Jordan Massage Envy, a franchisor of 11 massage therapy Scottsdale, clinics in Utah including one in American Fork, is opening a new clinic in South Jordan. The 12 worker, 3,400 square-foo- t clinic, by Matt Greer and Niki Price, is located on 11553 So. Parkway Plaza Drive, near Target and Sports Authority. A grand opening will be held on Friday from 1 1 a.m. 1 p.m. "There has been such a large population growth in South Jordan, and I know the demands for quality massage therapy have increased over the years," Price said. Founded in 2001, Massage Envy has 729 franchises nationwide including several in Bountiful, Draper, Union Heights, Murray, downtown Salt Lake City, Sugar House, Sandy, West Jordan, Riverdale and St. George. Ariz.-base- d - ;. . 'J ; ti 'fit 'NOrX ""C,' - NATIONAL BRIEFING Wall VI Street rebounds from steep decline NEW YORK Wall Street pulled off a stunning comeback Wednesday, surging higher in late trading and wiping out what looked to be yet another precipitous decline. The Dow Jones industrials, down more than 323 points in earlier trading, ended the day with an advance of just under 300 points, according to preliminary calculations. While such volatility has become a hallmark of Wall Street's performance in recent months amid the ongoing housing and credit crisis, analysts saw some positive signs in the day's jtrading. "There does come a point and time when the market itself recognizes that it got out of hand, and that is when -hunters can come in," said Peter Cardillo, chief market economist at Avalon Partners. The Fed's decision Tuesday to lower its federal funds rate by 0.75 percentage point to 3.5 percent has been met with some skepticism, but it gave intrepid investors Wednesday a reason to buy the severely dented stocks in the financial sector. "You might say this is a belated reaction to what the Fed did this week, compounded by hopes for the Fed to do more next week," Cardillo said. Traders who bet on the Fed's funds rate were pricing in on Wednesday a target-fe- d chance of a 0.50 percentage-poin- t cut by the central bank when it meets next week. TED S. WARRENAssociated Press Kate Herrick, left, looks through job openings posted online, while her husband, Scot Herrick, right, works on his blog V Wednesday, Jan. 16, at their home in Bellevue, Wash. Both were laid off from Washington Mutual Inc. late last year. Weak economy means it's time to update resumes bargain- nt STOCKS OF LOCAL INTEREST Yesterday's performance of selected publicly traded companies SVM COMPANY LAST CHANGE SVM COMPANY 29.19 MU MICRON MYGN Myriad Ul NATR NATURES SUNSHINE 1.63 NETM 2.40 N0VL NetManage, Novell Inc. NU5 AA ALCOA INC ABSY ABSOLUTESKY ABX BARRICKGOLDCP AEP AMER ELECTRIC POW CO AIG AMER INTL GROUP AMD ADV MICRO DEVICES AMGN Amgeninc BAC BK BAM BR0OKRELD BU BALL BMY BRISTOL MYERS SQIBB C CITIGROUP CMCSK 26.361.9599 17.10 049 Comcast Corporation Costco Wholesale Coip. 68 61 CHEVRON CORP 81.45 COST CVX Of 0.045 INC NEV 0.40 O.011 48.37 AMERICA 44.28 INC 54.81 7.56 0.7299 CP INC TECHNOLOGY Genetics, he. Inc. 6.70 0.41 42.70 0.66 8.00 0.05 5.60 0.18 6.29 0.02 NU SKIN ENT INC 15.93 0.95 49.88 166 44.75 0.70 NWN NORTHWEST 40.57 3.18 OMTR Omniture, Inc 25.52 1.56 026 PCG PG&E CP 42.36 0.97 43.08 1.04 0 QWEST 22,59 0.30 R2 RASER TECHNOLOGIES 12.05 1.65 SCOXQ SCO GROUP 0.075 002 10739 7.54 ASSET MGT CP LAST CHANGE 29 69 NAT GAS COMM INTL INC INC SHLD San SI SMITH INTL INC 59.56 43 0.20 SKYW SkyWesthc 26.03 Cap. 15.98 1.13 SNTO SENT0CORP 0.09 167 000 28.52 0.40 STR QUESTARCP 48.15 0.34 69.37 1.12 SY SYBASE INC 25.02 0.39 22.06 0.09 T AT&T 36.69 0.73 111.67 4.43 TGT TARGET CP 54.39 7.63 0.11 TRV THE TRAVELERS CO 46.42 056 025 GEN ELECTRIC CO 3459 0.S4 UDR UDRINC 22.45 1.31 HRB H R BLOCK INC 18.76 1.12 UNH UNITEDHEALTH 50.35 0.87 HSK BmrySchmlnc 60.96 0.17 USB US BANCORP 32.70 2.01 IBM INTL BUSINESS 106.10 4.88 USEG 0.09 19 98 1.35 USNA US. Energy Corp. 3.88 USANA Health Sciences 39.95 5.18 048 UTMD Utah Medkal Products VZ VERIZON DAL DELTA AIR LINES NEW CIS WALT DNEX DioneConjoration ERIC LM Ericsson ETR ENTERGY CP K FRANKLIN COVEY CO GE C Tel. ADS MACH WC Intel JBLU JetBlue Kf PENNEY J C CO HOLWN 44 43 JWN NORDSTROM 36.25 LI LEE E Corporate) Aways INC ENTERPRISES HIV SOUTHWEST MCK MCKESSON AIRLINES INC GROUP COMMUN 0.41 28.89 0.16 3807 40.24 367 067 WB WACHOVIA 10.64 WEN WENDYS 12.76 0.78 WK WELLS FARGO & CO 29.38 2.43 63.35 WMT WAL MART STORES 50.16 095S8 WNJ SCHIFF NUTRTT WTL 5.53 0.01 X UNITED STATES STEEl 104.18 CP 35.30 3.39 INTL INC 24.36 0.08 MfR MICOCMNSTK 58.05 MtR j MtRRIU 2097 030 362 137 MMSI Merit Medkal Systems Microsoft Corporation 16.14 0.14 ttl XCEL ENERGY INC 21.12 212 0 41 31.93 006 7J0N Sons Bancoipotatwi 46.59 3.82 MSFT t in CORP LYNCH ,.,,,, ,r .mi. hi in ITI . .... n ,l ii ft ii - mil ii liiiim n hiiiiiipiiii ...,. ii.,yiim complishments," said John A. Challenger, chief executive officer of the Challenger, Gray NEW YORK -I- you're & Christmas Inc. outplaceworried about losing your job ment firm in Chicago. "That's as the U.S. economy weakens, what makes you stand out." it's time to update your reChallenger said, for exsume in case you need to hunt ample, that "saying you are for new employment. a marketing executive with Your goal should be making experience in brand management" doesn't make you stand your resume stand out from the hundreds of other resumes out, because most market exthat employers receive. ecutives have those skills. But It used to be that a resume "saying that you are a marketwhich is a brief, written ing executive who developed the concept and designed the summary of an individual's materials for an advertising education, work and accomstarted with plishments campaign for a new brand" rea "statement of purpose," veals much more, he said. Job applicants also have to something akin to, "I'm seeking a challenging position that realize they're applying to ' offers professional growth." work for very busy people, But that doesn't make the so they have to keep the key distinctive from the items in their resumes brief and to the point, he added. competition.. "You really need to highIt should go without saying that all resumes have some light your last five years of experience and concrete ac things in common: THE ASSOCIATED PRESS f job-seek- They're attractive to look at, whether mailed or The content has been checked for typos and grammatical errors. The contact information is correct. Kate Wendleton, president oj the Five O'clock Club, a g and outplacement firm in New York, said also should prepare a cover letter for their (Jareer-coachin- resumes, In brief, it should say you've been following the company's' ' activities, that you have a number of years of experience in the relevant field, that your most important accomplishments are X and Y, and that you'd appreciate 20 minutes of the would-b- e employer's time to discuss the job. Workers especially those who are changing fields need to make sure their resu mes use the right vocabulary in describing their skills, said Wendleton, author of "Packaging Yourself: The Targeted Resume." "We had a person with banking experience, an executive who specialized in check processing, who came in to work with us," she said. "Now he wanted to work in hospitals, but they don't do check processing. So he had to get the word 'check' off his resume and emphasize transaction processing, which hospitals do." Those who have done a lot of which could make a worker look unreliable can make it less obvious in the way they organize their resumes, she said. Say someone has worked at three companies in the past seven yefif s. Wendleton See RESUME, C5 0.49 5.93 2.55 Holdings Eileen Alt Powell ii,,nL,u, , IBM workers angry over changes to overtime policy Brian Bergstein THE ASSOCIATED PRESS the base pay they earn for their first 40 hours of work each week will be cut 15 percent to compensate. BOSTON-E- ven as IBM IBM spokesman Fred Corp. reports record profits, thousands of its U.S. employees said the move would not are staring at pay cuts. save the company any money, It's the result of IBM's rebecause the affected employsponse to a lawsuit in which the ees generally should find that . overtime pay makes up for the company was accused of illegally withholding overtime pay salary cut. from some technical employees. However, internal docuIBM settled the case for $65 ments obtained by The Associmillion in 2006 and has now deated Press indicate that many cided that it needs to reclassify workers will lose money. work7,600 technical-suppoThese documents, prepared ers as eligible for overtime. for managers who have had But their underlying salary to break the news to their un Mc-Nee- rt of derlings, say that the affected workers more than 2,500 people generally do not work enough hours to make up for the cut in base pay. IBM is offering a onetime "transition payment" to reimburse affected workers for the losses they suffer in the first three months. One slide presentation says managers should try to spread assignments around so that more employees work enough to pass the threshold 5 hours of overtime per week at which their new pay would make up for the re one-thir- d duction in base salary. But the document also acknowledges that "hot skills and customer commitments may limit the opportunity to redistribute overtime," IBM's McNeese would not comment on the documents-specifi- c points. He said IBM had been pitying these technical-support people at "market rates," and to grant them overtime without a corresponding reduction in base pay would make them too expensive. One document, Libeled a lf ,i,uj A- - See OVERTIME, C5 |