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Show PAGE 10 f l I 7- - 0 ii SUNDAY, APRIL 6, BUSINESS EDITOR I Grace Leong 344-291- 0 2008 . . gleongheraldextra.com national Briefing Microsoft 'evaluating' its Yahoo offer A person familiar with Micro- SEATTLE soft's bid for Yahoo says the software company is evaluating its offer in light of the economic climate and the Internet pioneer's deteriorating business. The person, who asked not to be named be. , ause he was not authorized to speak publicly,' ; said Yahoo's share of the search market, stock price and overall condition have deteriorated since Microsoft announced its bid Feb. 1. At the time, Microsoft offered $44.6 billioa That's 62 .v;f Dercent above Yahoo's market value. Yahoo's board hag formally! rejected Micros . ' soft's bid, saying jt undervalues the comply) , '.. " thinking said the company has been patient ; but will be so only to a point. "1 Shares of Yahoo fell nearly 4 percent uTafter A ' ' . hours trading. '"',' Gas prices hit record on low supplies t ' ', 4 . ' 7 0 ..; Retail gas prices surged to a NEW YORK new record above $3.30 a gallon Friday and apas pear poised to rise further m coming weeks ' ' gasoline supplies tighten. Oil prices, meanwhile, supported the gas price rally by jumping more than $2 a barrel after a dismal employment report sent the dollar lower. At the pump, gas prices rose 1.4 cents overnight to a national average of $3,303 a gallon, according to AAA and the Oil Price Information Service, That's the latest in a series of records, and about 60 cents higher than a year ago. While oil's surge above $100 over the last month has boosted gas prices so far this year, analysts now expect gas prices to continue rising regardless of what direction crude takes. The Energy Department expects prices to peak near $3.50 a gallon later in the spring, but many ana- lysts predict the spike could approach $4. 7: . . . . ' , . DAVE .. MARTINAssociated Press Southern Poverty Law Center attorney Mary Bauer in Montgomery, Ala., on Feb. 22. The Southern Poverty Law Center found "legal guest workers" in the U.S., in some cases students, are at risk for abuse and exploitation. I0US FROM U.S.A. . Hurricane victims added to housing bill Valerie Bauman me feel really, really exhausted." She earned about $1,000 for the summer as a deep-fr- y cook, after her title was described as hostess. It cost her he young workers came : ; from Eastern Europe, Asia $2,200 to get to the U.S., plus rent. She described the experience as "painfuL" and Latin America, spend- ' Elizabeth Gptway , a spokeswoman for ing their own money to Six Flags, said the company in 2006 met work in summer resort with some students who approached the towns desperate for labor. company with complaints and misun--. Many of them wound up cheated out of and overtime derstandings. She said another company wages pay, working jobs that violated child labor law's of docked help recruit the international wotkjeis for them to hire, which may have ledto pay to cover room and board. A'New'York state investigation last; ' rJS.;-somejaaiscommunteation. l "And at the end of those meetings year found that nearly 200 foreign j workers were cheated by several comand talking with them, we were able to address all of their concerns, and if panies in the take George area a col-- : lection of resort towns an hour north of we were not able to change them or fix them, then we were able to better comAlbany The,tate ordered the businesses to repay the employees, plus interest, municate with them and they could un5 and pay state fines.' derstand why (certain things couldn't be .v;''''1 : Some of the companies are appealing ,. promised. changed)," she said. the ruling and more than four months In 2006, the most recent data available "They're a valuable resource for us as from the U.S. Department of State, about a company as well, so we Want them to i later, about 180 students who worked : for the companies between 2002 and ';, be happy," Gotway said. k 600,000 guest workers were issued U.S. ' 2006 are still owed $103,000 in pay, inter- . visas, not including highly trained work- In New York, only 15 workers have ; est and fines, according to state Departhotels. 4 area athletes and entertainers. Lake been ers, , George repaid by ment of labor records. In many cases, workers are unable to and businesses named in the Labor De-- ;' :i dig out of the debt "Forcing these international students ranging from $500 partment probe. Three of the companies , to $10,000 to work overtime without pay is crimiincurred just to get to the are appealing Labor's decision to the state Industrial Board of Appeals, acnal," said Charles Kernaghan, director of United States, according to the report. g the National Labor Committee, a human "Sandy" Chang, a cording to documents The Associated Press obtained through the state Freerights organization. "To overcharge college student from Taiwan, said them for rent, what an image it gives. she traveled to St. Louis in the summer dom of Information, Law. These students go back as ambassadors of 2006 to work at a Six Flags resort The state Department of Labor said to their countries. What they'll have to S.J. Garcia's in Lake George owed park. There, she lived with three other instead of the $42,745.13 in unpaid wages and fines. say about the United States is that this is students in one room n a nasty experience." quarters promised her far Ramada Express in Queensbury owed $14,209.26, and Quality Inn and Econo Nationally, The Southern Poverty Law from work. She and other international Center found "legal guest workers" in workers took a bus that ran twice a day Lodge & Suites in Queensbury jointly the U.S., in some cases students, are at at 10:30 a.m. and 10 p.m. owed $46,505.22. The students are owed risk for abuse and exploitation. A report "Even if we got off work in the afterbetween $8 and nearly $3,000, an averissued in 2007 by the center said many noon, all we could do is wait, or people age of about $340, according to docu- workers were promised higher wages or (would) just keep working," Chang said in an were given fewer weeks of work than interview. "Then that made See PAY, C9 WASHINGTON The Senate on Friday supported tax breaks to ailing Rust Belt manufacturers and Gulf Coast residents receiving grants to rebuild homes destroyed by Hurricane Katrina. The twin amendments were the first add-on- s to a bill aimed at easing the crisis in the housing market. The measure is slated to pass next week. By a 76-- 2 vote, senators approved a plan by and Debbie Stabe-noGeorge Voinovich, to allow money-losin- g companies to use already accumulated tax credits to help offset new investments in plants and equipment. Cqmpanies across the country would be helped, but the Rust Belt lawmakers said the problem is particularly acute in their region. Such businesses did not benefit from tax breaks included in February's economic stimulus measure that were available only to companies making profits. THE . I Editor's Note: Please Planning" featuring speakers Steve Miner, president of Market De..... velopment Inc.,. Assoc!-ate- d Food Stores; and Bob Carey, earthquake' ences to gleongher-aldextra.coor fax it planning manager of the . to Deadline Division of Homeland for submission is the Security. The RecogniWednesday of the week tion of Readiness Award before publication. recipients include: Ron Ball, risk manager of Ogden city; Will Lusk, TUESDAY assistant fire chief of Logan city; Lt. Col. I The Utah Advertising Charles Dressen of the Federation will host a Utah National Guard; v "Green Marketing" lunCol. Linda Medler, comcheon featuring speakmander of USAF; Jim . . ers, Edwin Stafford and Buchanan of Brigham Cathy Hartman, both City; and Lance Peterson of whom are marketing of Weber County. Locaprofessors with the Jon tion: Ogden Marriott, M. Huntsman School 247 24th Street. Cost: of Business at Utah $35 per person Includes State University. They lunch. Discount available will present the three for Recognition of ReadC's of green marketiness Award recipients. consumer value, ing Time: 9:30a.m.-1- 0 calibration of consumer a.m. knowledge and credibility 10 a.m.-- 4 p.m. To of product claims. Stafregister, please visit: ford and Hartman will submit calendar in-- : formation for Utah businesses, events, seminars and confer- - two-perso- , http:www.echamber. ccconference.html, or' 538-340- RSVP: UAF office at or 355-900- 1 deeannutahadfed.com by April I The 2. Division of Homeland Security will host a Ready Your Business conference, "Get Involved, Business Role In Community Emergency Cash questions from the reader THURSDAY I The Utah Valley Home Builders Association will be hosting their Utah Valley Economic Sum- mlt. Jeff Thredgold, local email inbox is very of- bursting at the seams, decided to grve it a Here, angood swers to a few of your burning The downside? Borrowing is a bit tougher in this market. "It's not necessarily a bad time to buy a vacation home, but you're going to need to be in a much stronger financial position questions: you need to have more liquid assets available, DEAR JEAN: My husband and I more money for a down payment, are considering buying a second and possibly a higher credit score home with the down payment in order to be considered for a ' coming from the estate of my mortgage," says Keith Gumbin- mother. Admittedly, it's a bit of a ger, a vice president at HSH Asstretch for us. We have $135,000 sociates. left on bur current home mortHere's my take: I like the fact that you're planning on being out gage, and the rate is at 4.75 percent. With such a great rate and of both mortgages before you hit 10 years left, a refinance doesn't age 65 and retire. The question ' make sense. We plan to pay a is, will the remaining amount of when the news shows people third of the second mortgage money in your retirement accounts be enough? To figure that from our monthly budget and who can't afford their main s from an investment home, are we being too aggresout, you need to run the numbers Shannon in with some of the retirement calcuaccount, which holds $380,000. ' sive or just foolish? lators available on the Web. We also have a 401k plan with Richmond, Va. about that same amount. We are Lastly, before you buy, I want DEAR SHANNON: I've been both turning 50 and have led a you to think about what would happen in an emergency. What if watching the s.econd-hom- e frugal yet enjoyable life. market because I'd like to buy , For the new house, we'd have you lost your job or your husband to borrow $173,000, making the myself. Prices on second homes x lost his? Would owning this house put you in too tough a spot? In payments about $ 1,800 a month .usually come down before those that case, you might want to think on first homes because they're over 15 years plus the other in secso a crunch a more with come that again. dispensable, expenses ond home. In these shaky times, ' people tend to unload them first. to Utah Valley. Location: UVSC's McKay Events v Center Mezzanine. Time: Program and lunch at noon followed by a session at 1:30 p.m. Cost: $16 by April 4 and $20 after April 4 or at the door. To register, please call ' (8Q1) 2258893. ' I- - 1; b-- v ... Jean Chatzky Talking Money two-third- bag e-m- ail spring-cleanin- economist, will speak about economic forecastisay. Location: Marriott City Center, 220 S. State ng. Dr. Elliot Eisenberg, senior economist for the St. Time: 11:30 a.m. National Home Builders registration and hosted Association, will present reception. Noon: lunch and discuss an economand keynote address. ic model survey specific Cost: $25 for members $30 for ; Shu-Tin- 344-2985- and Records show foreign students who come to America to work still owed pay " . call (801) - ''f- - ; Week Ahead address why consumers are increasingly buying green and how advertisers need to position their green products to have mainstream appeal. Focusing on green benefits while ignoring mainstream consumer needs and expectations is a symptom bf "green marketing myopia," they PRESS 1 x m ASSOCIATED DEAR JEAN: My husband and I are on a very tight budget. My school loans have come due and although we pay a little every month, the interest is already piling up! We're currently putting 10 percent of our income to savings. Should we divert some of that money to our loan payments in- stead? Jen, from Provo, Utah . DEAR JEN: Good for you for saving. I'd suggest a few things: First, there's a good chance you're receiving a tax refund and a tax rebate in the next few months. I'd use those to see if you can at least keep up with the interest on your loans. I'd also call your lender and work with them to stretch out in some your payment terms cases you can go from a term to a 20 or even a 30, which means you'll pay more in interest over time but have less of a burden right now when you're getting started Then, as you start to earn more money, you'll be able to prepay on that extended term to reduce the overall interest. ar See CHATZKY, C9 |