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PAGE 8 THURSDAY, AUGUST 17. 2006 BUSINESS EDITOR Local Industry NEWS & NOTES Gfece Leong A A A A A Dow Jones Nasdaq S&P500 Gold Silver Final Final Final 11,327.12 96.86 2,149.54 34.53 Per ounce $628.70 $6.20 Per ounce $12,259 $0,203 . 1.295.43 9.85 344-29- 1 0 gleoogheraldextra.com EXCHANGING THE DOLLAR Yen Euro Pound Canadian dollar Mexican peso Wednesday Tuesday 115.87 $1.2836 $1.8948 1.1173 10.7580 116.07 $1.2782 $1.8931 1.1228 10.7915 People on the Move IHC first president makes Top 30 most influential people in Scott Parker, the first president of Intermoun-taihealth care Healthcare, was named one of the 30 most influential people in health care in the past three decades by Modern tab job growth hits peak n ' Healthcare Magazine. in Utah County, Intermountain operates the American Fork Hospital, Orem Community Hospital, and the Utah Valley Regional Medical Center. Parker oversaw the ere; ation of the nonprofit health care system, when it was diSaints vested from the Church of Jesus Christ of Latter-da- y in 1975. He continued to lead the hospital organization until his retirement in 1999. Parker oversaw Intermountain's growth from 15 hospitals to 22 hospitals while investing hundreds of millions of dollars in facility modernization and new medical technology. He also developed a partnership 'with local physicians that led to the creation of the Inter-- , mountain Medical Group. At the request of struggling rural facilities in Utah, Intermountain took over the management of several community hospitals during his tenure. "During the managed care boom of the '80s, Parker saw the challenges of trying to satisfy outside payers and launched Intermountain's insurance arm, creating one of the nation's first and most successful integrated delivery networks," the magazine said. Parker also served as the chairman of the American Hospital Association, and was president of the International Hospital Federation, He was inducted into Modern Healthcare's Health Care Hall of Fame in 2005. Modern Healthcare's list includes Senator Edward Kennedy, Surgeon General C. Everett Koop, Senator Hillary Clinton, and Presidents Jimmy Carter, Ronald Reagan, George H.W. Bush, Bill CUnton, and George W. Bush. Grace Leong DAILY 'rate, which has been climbing since 2003, receding and moving toward the lower 4 percent range by year-en"Utah's low unemployment rate implies full employment in the labor market, to the point where finding additional workers for mqre job expansion may become restrictive, Knold said. "The national economy is slowing a bit, which slows demand for business activity, and in turn workers. This is bound to efhave a small trickle-dowfect upon Utah." Utah's seasonally-adjuste- d unemployment rate was 3.4 percent in July, down 0.8 percent from 4.2 percent a year ago. About 44,000 Utahns were unemployed in July compared with 52,600 last year. Amid a slowdown in the national housing market, con HERALD Employment growth in Utah appears to have peaked and is expected to grow at a slower rate over the next few months, according to monthly data from the Department of Workforce Services. The number of non-farpayrolls in Utah grew at a ' slower rate, up 4.7 percent, or 53,900 new jobs last month from a year ago, with sectors such as construction, and professional and business services continuing to be strong employers in a tight labor market. The state's employment growth rate was 4.9 percent in June. Mark Knold, senior economist for the Department of Workforce Services, sees Utah's employment growth Laurie UVSC hires new director for college prep program Hadley was named director of Utah Valley State College's ' GEAR UP program. GEAR UP, which stands for Gaining Early Awareness ahd Readiness for Undergraduate. Programs, is a federally funded program designed fo prepare middle and high school students for college through academic preparation programs and scholarships. The program, which focuses on low income and first generation college-boun- d students, has College of partnerships with Salt Lake Community College, ' ' Eastern Utah and Utah State University. Hadley has worked as an educator for the past 14 years. After receiving her doclorate in Instructional Systems Technology at Indiana University, she taught at Brigham Young University, Indiana University and Utah State University as a professor and then served as dean of Neumont University in Salt Lake City for three years. n struction employment continues to be in high gear in Utah, adding 12,700 new jobs in July, or up 14.8 percent from a year ago. Knold cited continued strong ation population growth and bullish expectations about business growth in the West Coast states including Utah. "Businesses are putting lots of projects on the table. Manufacturers are putting factories in the West Coast. Case in d point, Kraftmaid, an that recently company, opened in Utah," he said. Professional and business services is another big employer, adding 12,200 new . . jobs over the past year, up 8.2 percent. Half of the new jobs g added are in the professional and scientific area including legal jobs, engineering, architecture, comput Ohio-base- high-payin- er specialties, scientists and researchers. The other half is in employment services including production, transportation, office, aclministrative support and health care. Manufacturing, which accounts for 10 percent of Utah's employment, has been losing steam as more manufacturers offshore production to lower wage countries. But in the west coast states including Utah, manufacturing employment bucked the national trend, showing a 3. 1 percent growth in Jury. Statewide, trade, trans-- 1 ' portation, and utilities added 7,600 new jobs over the past year, while the leisure and hospitality industry grew 2.9 percent, or added 3,000 new jobs. Financial services grew 4.9 percent, or added 3,400 new jobs. . Shopping Back-to-Scho- ol ClearOne names new executive ClerOne Communications Inc., a Salt Lake City audio, video and web conferencing solutions company, named Marthes Solamuthu its vice president of Operations. Solamuthu, who replaces Werner Pekarek, will report to Zee Hakimoglu, ClearOne's president and chief executive officer. Solamuthu most recently served as operations manVenture Corp., where he oversaw ager for Singapore-base- d two manufacturing plants, several hundred employees and was responsible for production, materials purchasing, planning, engineering, quality, program management and sales. He had also held a variety of senior positions .with Ericsson Mobile, Motorola and Western Digital. Solamuthu earned a bachelor's degree in mechanical engineering from Technology University in Malaysia. In addition to English, Solamuthu speaks Bahasa Malay, which is spoken in Malaysia arid Indonesia, Cantonese, and Tamil, which is spoken in India. Earnings Orem whole foods maker's second quarter net losses narrow Whole Living Inc., an Orem-basemanufacturer and distributor of whole foods, said its net losses narrowed to $356,606 for the second quarter ended June 30, from $443,927 in the first quarter. Increased iriventdries and net assets helped boost the company's total revenues to $828,882. "Our efforts to streamline operations, reduce overhead and any unnecessary redundancies are evident in the reduction of losses quarter over quarter, and year over year," said Robert Reitz, CFO of Whole Living. "When you factor in the inventory write-off- s which totaled $118k, costs as well as our investments in global expansion'to fuel future growth, it's clear we are well on our way to generating positive cash flow and profitability." RUSTY . d Stocks of Local Interest Yesterday's performance SYM COMPANY AA ALC0AINC ABSY ABS0LUTESKY ABX BARRICK GOLD CP AEP AIG LAST CHANGE 28 71 0 22 SYM COMPANY LAH CHANGE MSFT Microsoft Corporation 24.70 080 0 05 MU MICRON 16.70 0.28 47 045 MYGN Myriad Genetics. 26.11- 0.19 AMER ELECTRIC POW CO 3622 0 38 NAIR NATURES AMER INTL GROUP INC 6301 0 42 NETM NetManacje. AMD ADV MICRO DEVICES 22 57 70 N0VI Novell. AMGN Amgenlnc. 6661 092 NUS NU SKIN ENT INC 17.38 BAC BK OF AMERICA 52.30 4 0 15 NWN NORTHWEST 38.12 0.08 BLL BALL PCG PG&E CP 41.38 449 BLS BELLSOUTH CP 39 49 0 08 PFE PFIZER ,NC 26.75 0.35 BN BANTAC0RP 45 90 0 05 Q QWEST COMM 8.68 0.00 C CITIGROUP 48 0 RZ RASER TECHNOLOGIES 8.0 0.11 CBAG CRESTED 2.45 0.20 CMCSK Comcal Corporation CVX CHEVRON INC NEV 31 CP CP 3971 INC CORP WALT Dionex Corporation IM Ericsson Telephone ETR ENTERGVCP FC FRANKLIN GDW GOLDEN , COVEY CO WEST FIN CP GEN ELEGRIC HCA HCAINC HRB HR HSIC Henry IBM INTL BUSINESS INK KP Intel Corporation JetBlue Airways Corp PENNEYJCCOHOLDIN JWN NORDSTROM KRON Kronos Incorporated LEE LEE LFB CO BLOCK INC Inc. MACH ENTERPRISES LONGVIEW FIBRE CO LU LUCENT TECH INC LUV SOUTHWEST MCKESSONCORP MER MfCtKMNSTK MITY MITY ' . AIRUNES MCK' MMSI ' INC '. Enterprises Inc. Ment Medical Systems 0.25 4.48 0.02 6.790.11 Inc. NAT GAS . INTL INC 06 0 55 SHLD Sears Holdings 093 Slr SMITH INTL INC 71 32 27 77 31, 0.07 2 SKYW 29 0 86 ' 27"' Group. Inc. (The) Corp SNTO SkyWest Inc. Sento Corporation SPI SC0SH POWER ' PLC STA ST PAUL TRAVELERS CO 001 SIR QUESTAR 50 0 44 SWFT Swift Transportation ' CP Co 0.34 150.00 3.80 43.65 0.35 24,00 094 2.73 0.38 0 57 44.22 0.08 88 62 0505 46 5 55 75 GE 8.75 SCO 51 21 ERICY 12 0.08 Inc. SC0X 29 C 81 Inc. 4 SUNSHINE 0 05 65.41 DNEX Schein, 53 0 TECHNOLOGY 1.55 34 CORP CIS JBLU ' of selected publicly traded companies 21 26.06 1.24 33.71 051 SY SYBASE INC 21.94 014 49.05 0 00 T AT&T INC 30.25 0.11 22.45 0.00 TGT" TARGET CP 49.36 080 47.67 0.16 UDR UNITED DOMIN RLTY 2800 0.23 79.09 2.01 UNH, UNITEDHEALTH GROUP 48.14 0 TR 01 18.61 0.48 USB US BANCORP 10.45 0 33 USEG U.S. Energy 68 05 0.20- USNA USANA Sciences. 45 03 015 36.51 0.39 UTMD Utah Medical Products 30.10 0.206 Corp. Health 32.40 0.11 3.87 0.24 '2952 0.37 VZ VERIZON COMMUN 24.86 WEN WENDYS INTL INC 61.30 055 2079 0 04 0.09 WFC WELLS FAKGO & CO 35.23 0.26 2.22 0.02 WMT WAL MART STORES 44.430.047 0.77 51.72. 031 75 38 0.62. 17 76 17.10 0.05 13.61 0.14 SCHIFF NUTRIT INTL WNI X '3423-01- ' 7.25 UNITED STATES STEEL XEL XCEL ENERGY INC ZI0N Zions incorporation .. 0.30 78 734 2069 0.09 27 0.64 61 82 Leah Ingram and her daughters Jane, left, and Annie, 9, sale at in their New Hope, Pa home Wednesday. J KENNEDYAssociated Press sort through the back to sohool items they purchased on Parents: Involve children in budgeting erage family expects to spend items $527 on this year, up 18 percent from $444 last year.. As the NEW YORK Of that, teenagers are spendsupply store. shopping season ing an average of nearly $29 of returns, so does the annual Ingram paid for the basics their own money, and preteens such as pencils, folders and tug of war between kids who are investing about $13, the', want the trendiest clothes and notebooks. But if the girls wanted hold need a to who fancier, io study by the Washington, something parents trade group said. "they could spend their own albudget. June Walbert, a certified lowance money," she added. But there are ways that financial planner with USAA The girls did just that, with parents can keep the stress to Annie choosing a special pencil in San Antonio, said parents a minimum and teach some valuable money lessons to their box and Jane selecting animal-shape- d should work with their chilerasers for her pencils, dren to set priorities.. children at the same time. "Turn shopParents like Leah Ingram of said Ingram, who works as an New Hope, Pa., have found it ping into a family event, just etiquette and protocol consultant. budgeting like planning the family vacahelps to involve their kids in as tion," she said. "Families don't decibecome more his important shopping sions. just pick up' and go on a vacaprices have risen. A survey by the National tion, they plan." Armed with their school's Deciding what to buy, where Retail Federation found the av- list of recommended supplies, Ingram and her daughters, y ear-ol- d Annie and Jane, recently took advantage of a penny sale at. a local office Eileen Alt Powell THE ASSOCIATED 9-- PRESS back-to-scho- back-to-scho- D.C.-bas- back-to-scho- Back-to-scho- back-to-scho- -- to buy it and who will pay for it teaches the importance of budgeting and helps avoid overspending, she said. "It also can cut down significantly on arguments at the mall if you've decided in advance what you're shopping for," Walbert said. Larry Kutner, a psychologist who worked with USAA on a recent survey of teenagers' attitudes toward money, said the results showed that financial education doesn't always come from conversations. "Teens watch their parents' behavior closely," Kutner said. "If the parents say 'You should save,' then go to the mall and spend, spend, spend that's the message that gets across." Rising energy costs elevate U.S. inflation That represented a second dose of good inflation news, following a report Tuesday that wholesale prices were up A new WASHINGTON surge in energy prices pushed just 0.1 percent in July and, exinflation higher in July, but cluding food and energy, actuother prices were more really fell by 0.3 percent. In Utah, higher gasoline and strained, raising hopes on Wall Street that interest rates won't housing costs lifted the cost of be rising further. living along the Wasatch Front for the eighth straight month, The Consumer Price Index jumped 0.4 percent last month, according to a monthly report released by Wells Fargo on double the June increase, the Labor Department reported Wednesday. adOverall, Wednesday. But outside of Wasatch the rose and food, prices along justed prices energy by just 0.2 percent, the smallest Front rose 0.6 percent in Jury. "Local transportation rates gain in five months. Martin Crutsinger THE ASSOCIATED PRESS WWW.HERALDEXTRA.COM CALL TO SUBSCRIBE increased, as did housing costs, while grocery expenses dropped," said Kelly Matthews, executive vice president and economist for .Wells Fargo. "Gasoline prices still seem to concern consumer; a great deal. Yet, due to recent world events, record,crude oil prices and the problem with the Alas- kan pipeline, it is unlikely gasoline prices will fall markedly anytime soon," he said. Locally, transportation costs gained 1.2 percent on higher gasoline prices in Jury, while housing costs jumped 2.2 percent. Grocery expenses fell 1.1 percent'as lower prices of beverages, produce, dairy, cereals, meats and fats more than offset higher prices of sugar and miscellaneous foods. Clothing prices dropped 4 percent on lower price tags for men's and women's apparel. Meanwhile, the Dow Jones industrial average rose 96.86 points to dose at 1 1,327. 12, its best close in three months. The Dow has gone up nearly 229 points in two days. Two other reports Wednesday added to the view that a slowing economy could help to hold inflation in check. . |
