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Show DAILY HERALD Saturday, April 5, 2008 Economy Continued from B6 " We His-panic- Densley v ' world is not to have and to hold but to give and to serve. Last weekend, I stepped into a Checker Auto Store to buy some things to get my old truck ready for my state inspection. I needed all kinds of parts for repair work. Looking a little befuddled which I often do when tryI had a ing to repair trucks man come up to me and ask if he could help. I saw a name tag on his shirt and was grateful to get some advice. He began to find everything that I needed such as windshield wipers, light bulbs, battery cables and a host of other things. He then asked if he could help me install them in the parking lot. I was astonished at the service and readily said yes and thank you. He spent time with his tools to put things on and get it ready for inspec-tio- a When he was finished, he wanted to know if there was anything else he could do. I politely said no but thank you, and as he turned to get into his own truck I noticed that his don't like to see one job lost, let alone 80,000. These are challenging times ... but we'll get two-mont- h points, while other indexes edged higher. All the economy's problems are forcing people and businesses to hunker down, crimping spending and hiring, a vicious cycle. "Across the board, businesses have become very, very conservative," said Joel Naroff, president of Naroff Economic Advisors. More dpwnbeat about their own sales prospects because of cautious consumers, employers are cutting back. "It only makes sense for them to run leaner if we are going into a recession or already in one" as Naroff now believes. The new employment figures were much weaker than economists were expecting. They were anticipating a drop of 50,000 payroll jobs. Michael Gregory, senior economist at BMO Capital Markets Economics, said the employment report was "emit ting recession signals." The national unemployment rate of 5.1 percent, relatively modest by historical standards, is nonetheless the highest since September 2005, following the devastating blows of the Gulf Coast hurricanes. Some groups are feeling more of the strains from the economy's current woes. The s, unemployment rate for for instance, jumped to 6.9 percent in March, the high Continued from B6 est in more than four years. The rate for blacks climbed to 9 percent, a high. With the public on edge, Congress, the White House and presidential contenders are scrambling to come up with their own relief plans to stem record-hig- h home foreclosures and stabilize housing even as they engage in a political blame game. Democrats want more economic assistance, including extending unemployment benefits. The Bush aclministration has resisted, saying the government's $168 billion stimulus package of tax rebates for people and tax breaks for businesses will be sufficient once it kicks in. "We dont like to see one job lost, let alone 80,000," Commerce Secretary Carlos Gutierrez said in an interview with The Associated Press. "These are challenging times," he said. Gutierrez said he was hope. ful the economy would turn around in the second half of this year, given the relief efforts by the government and the Federal Reserve. "We'll get through this." ., Democrats were skeptical of the administration's efforts. "Our economy is spiraling downward," said presidential contender Hillary Rodham Clintoa "It is time' for this administration to put ideology aside and get serious about stemming this crisis." Barack Obama said, "Instead, of doing nothing for out-of- - E5 pany to restate at least $2.2 billion in revenue. Nacchio's conviction on insider trading Continued from B6 charges was set aside by a federal appeals court. Notebaert received stock Before joining Qwest, Mueland option awards with an estimated value of $7.4 million ler followed Notebaert at the day they were granted. Ameritech Corp. Notebaert The awards were less than resigned as CEO in 1999 after half the estimated $16.7 milthe company was acquired lion he received in 2006. by SBC Communications, and Notebaert's personal use of Mueller became president and corporate aircraft in 2007 was CEO of SBC Ameritech, the valued at $273,712. subsidiary of SBC CommuniThe Associated Press calcations Inc., in 2000. Denver-base- d culations of total pay include Qwest is the executives' salary, bonus, inprimary telephone service centives, perks, above-markprovider in 14 mostly Western returns on deferred compenstates and operates a nations sation which the Qwest ex- wide network. ecutives did not receive and For the quarter ending Dec. the estimated value of stock 31, Qwest reported net income of $366 million, or 20 cents a options and awards granted share, up from $194 million, or during the year. The calculations dont include changes in 10 cents a share, in the fourth the present value of pension quarter of 2006. Revenue fell benefits and sometimes differ 1.5 percent to $3.4 billion from from the totals released by the $3.5 billion and operating costs dropped 6 percent. companies. When Mueller took over For 2007, Qwest reported as CEO, Qwest said he would net income of $2.9 billion, or earn an annual base salary $ 1.52 per share, compared of $1.2 million and a target with $593 million, or 30 cents bonus of up to twice that a share, in 2006. Revenue amount. During 2007, his dipped 1 percent to $13.8 bil' lion from $ 13.9 billion. guaranteed minimum bonus was,$947,000. Operating expenses for 2007 totaled $12 billion includ-'in- g Notebaert took charge of a financially troubled Qwest $393 million in litigation after the resignation of then-CEcharges. Joe Nacchio in June On the Net: 2002 when it was mired in a multibillion-dolla- r accounting Qwest Communications: scandal that forced the com www.qwest.com ployed people increased to 7.8 Qwest million in March. Workers with jobs saw modest wage gains. Average hourly earnings for jobholders rose to $17.86 in March and are up 3.6 percent over the past 12 months. With lofty energy and food prices, workers through this.". may feel like their paychecks are shrinking. If the job marCarlos Gutierrez ket continues to falter, wage commerce secretary growth probably will slow, too, making consumers even less inclined to spend, which would further hurt the economy. work Americans, we need a second stimulus that extends Many analysts believe the economy shrank in the first unemployment insurance and three months of this year and helps communities that have could still be ebbing now. The been hit hard by this reces-sioa- " government will release its ecoestimate of Republican John McCain nomic growth later this month. said the unemployment news Under one rough rule, if the "underlines the. need to focus on innovation, which grows . economy contracts for six the economy and creates an ur- straight months it is considered gent need for effective'worker in a recession. When a determination is retraining." made by a panel of experts Given the worsening employment situation, the Federal about when a recession has it is usuReserve probabry will lower a started and ended ally done well after the fact. key intereSt rate, now at 2.25 Bernanke and the Bush adpercent, later this month. The Fed has' taken a num- - , ministration are hopeful the ber of extraordinary actions economy will improve in the second half of this year. Even recentry slashing interest rates, providing financial back- so, Bernanke predicted this week that the unemployment ing to JP Morgan's takeover rate would rise further. Some of troubled Bear Stearns and opening an emergency lending analysts say it could climb to 5.75 percent or higher this year. program for big investment Advises Hoffman: "If you've houses. All the actions were aimed at limiting damage to got a job, hang on to it the best the national economy. you can." With the pace of hiring , number of unem- slowing, the ..mi fiber-optic- first-quart- , : O , ... .. both. Nor is it the soil or the countryside... The difference is that the of Galilee receives water Sea did Checkers hot say badge but Cheech. He wasnt even an but does not keep it, For every employee of the parts store but drop that flows in, another just a great guy willing to help drop flows out. The giving and the receiving go on in equal a total stranger out. It made my day and taught me a great measure. The other sea hoards its income. Every drop it gets it lesson on kindness. There is a story called the keeps. The Sea of Galilee lives and lives. The other sea gives Two Seas of Palestine that nothing. It is called the Dead expounds on the wisdom of Sea. service. One sea is fresh. Fish There are also two kinds of live in it. Trees and bushes those people in this world grow near it. Children splash Dead Sea people who take and play in it. The River Jorwithout giving back and the dan flows into this sea with sparkling water from the hills. givers who remain fresh and vibrant by freely sharing of People build their homes near it. Every kind of life is happier themselves. The famous Dr. Albert because it is there. The same Schweitzer once said, "I don't River Jordan flows south into another sea. Here there are no know what your destiny will be but one thing I do know, the fish, no green things, ho children playing, no homes. Stale only ones among you who will be really happy are those who air hangs above its waters, and neither man nor beast will have sought and found how to serve." drink of it. What makes the difference I Steve Densley i$ president between these neighbor seas? Chamber Not the Jordan River. It empof the Provo-Oreties the same good water into of Commerce. Fast Phone Quotes No salesman will visit you. Fast quotes from your rough measurements. Final measurement done at time of order. Visit ' our showroom! 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