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Show BUSINESS EDITOR: NANCY BLISS 2 B5 THK DAILY Ht.RALD MUTUAL INTEREST TUESDAY. OCTOBER 27. lW(it Newell agrees to buy UuMmmaM BUSINESS BRIEFING Gatton buys Chauncey By JON BIGNESS Chicago Tribune WOOSTER, Ohio a v reader-friendl- y prospectuses hints about mutual funds? Here's some advice you won't regret: Read the prospectus. But if the thought of trudging through all tha't tiny type turns you off, be consoled: Mutual fund prospectuses are now more reader-friendl- The prospectus is a mutual fund's blueprint. It tells what the fund's managers can and cannot do with your money. It describes risk and limits how much risk a fund can take. It discloses the fund's overall whether that purpose means making profits as quickly as possible or seeking reasonable gains while first bringing in income and protecting your principal. And much more. Mutual funds have for a long time provided investors with the best disclosure of any financial product in the world. The problem was that as mutual funds proliferated, the prospectus became more confusing. THE MUTUAL fund industry has worked closely with the Securities and Exchange Commission (SEC) to make prospectuses more readable without disturbing vital information. The new rules improve mutual fund prospectuses by, among other things, focusing the document On essential information jbout the particular fund. Significant features of the new prospectus include: A standardized summary of information about objectives, principal strategies, risks, performance and fees. A bar chart to illustrate the volatility of the fund's total return over the past 10 years, and a table comparing the fund's return to an approsecurities priate broad-basemarket index. Narrative risk disclosure focusing on the fund's portfolio as a whole, rather than the risks associated with individual types of securities in the portfolio. d IN ADDITION to reforming the full prospectus, the SEC authorized optional use of the "profile," a concise new disclosure document designed to convey information essential to an investment decision. The investor can base his or her decision on the profile, the full prospectus, or both. Whether or not investors use the profile, every fund is required to provide the full prospectus by the time it provides the statement confirming a purchase. The industry and investors have put much effort into creating the new prospectus and profile. These changes are for your benefit. Read the it's excellent prospectus advice that's now a little easier to follow. Steven H. Tolley is an invest- ment representative for Edward D. Jones ban be reached at Orem-base- & Co. currently markets brands, primarily in discount stores like with names more recognizable than its own, such as Levelor window blinds, Rolodex address organizers and Goody hair products. While Newell has increased its stable of brands in the past 30 years with 75 acquisitions, the maker Ji : V Jt fa-. '. I d d ' i'lS)' assessment, testing products and services to the IT industry, and is recognized for its high quality of service in item and test development. Under the terms of the acquisition, Gallon will assume control of operaChauncey's tions, as well as all current IT customers contracts, moving the staff to Galton headquarters in Provo. Utah-base- d vendor-specifi- c PHIL lMl K.O Akron Hcaum Journal Purchased: Elbert Smith of Wooster, Ohio, heads out of the Everything Rubbermaid store, at the Rubbermaid Headquarters, with his purchase. Newell Co., of Freeport, III., purchased Rubbermaid for $6.3 billion. high performance standards." Rubbermaid's strength has Calphalon been coming up with new products and marketing its brands, but it hasn't performed up to expectations because of its poor execution in delivering products on time to retailers. Newell, on the other hand, is known for its ability to manage costs and integrate acquisitions. "They fit well together," said Alexander Paris Jr., an analyst Corp., Rubbermaid's office products unit and Rolodex, among others, in an attempt to boost earnings through acquisitions. International presence The combined company, which will be called Newell Rubbermaid Inc., will also have a stronger presence in Europe and Latin America. Newell Rubbermaid would generate about $900 million, or 15 percent, of its sales in Europe and about 5 percent in Mexico and Latin America, said William T. Alldredge, Newell's chief financial officer. "This takes Newell into a with Barrington Research in Chicago. "This is a strategic acquisition, not a financial acquisition." Though it's too early to tell how many jobs will be cut, Alldredge said there would be some layoffs as the companies combine administrative functions. And while the company will stratosphere," said Alldredge. "By putting these two companies together, we're creating a growth company with very maintain its operations in Freeport, a group of about a dozen top executives could be based out of anot her location, he said. Newell's earnings diluted The acquisition will dilute Newell's earnings by about 10 cents a share 1999, but add "in the range of 5 cents to 15 cents a share" to Newell's earnings in 2000, said Alldredge. The deal calls for Rubbermaid shareholders to get 0.7883 shares of Newell common stock for each share of Rubbermaid. Based on Tuesday's closing stock price of Newell, this represents $38.68 per Rubbermaid share, or a premium of 49 percent over Rubbermaid's closing stock price of $25.88. The deal is subject to federal regulatory review and approval by a vote of shareholders of both companies. Newell shareholders would control 60 percent of the equity in the combined company. The companies' boards met Tuesday to approve the deal, which is expected to close in early 1999, Officers announced William P. Sovey, Newell's chairman, will also be chairman of Newell Rubbermaid. John J. McDonough, Newell's vice chairman and chief executive, will retain those positions in the merged company. R. Schmitt, Wolfgang Rubbermaid's chairman and chief executive, will become vice Newell of chairman Rubbermaid. The Newell Rubbermaid board will have 15 members, nine representing Newell and six representing Rubbermaid. 7 Habits No. 1 SALT IAKK CITY With ' nearly one million copies sold during its first year in print, Stephen It. Covey's "The 7 Habits of Highly Effective People" is the No. 1 business txxik in Japan in 1997, based on data collected by Japan's two largest publishing distributors, Tohan and Nippan. In the United States, The 7 Habits of Highly Effective People also tied as the No. I most influential business book of the 20th Century in a survey of Chief Executive magazine's best-sellin- g readers. Not since Dr. Edwards Deming's quality movement have Japanese businesses embraced American business practices like they have 'The 7 Habits of Highly Effective People" by the Provo resident of Franklin and Covey Co. Drug companies unite BUSINESS EVENTS CALENDAR Cost: Free Information: Franz Kolb (801) 538- - TODAY 8738 TECHNOLOGY TRADE SHOW: TECH 2020, a computer and business tech- THURSDAY nology show begins today at the Salt Palace and continues Wednesday. No one under 18 years of age will be admitted. InterJetNet is sponsoring the Cyber Internet lab) and the Cafe, a hands-oSalt Lake Chamber of Commerce is sponsoring Internet seminars. Location: Salt Palace Convention Center, 100 S. West Temple Time: 11 a.m. - 8 p.m. Cost: $10 RSES CONFERENCE: The worldwide education and training association for and heating, ventilation, refrigeration professionals will hold its 29-361st annual conference Oct. Location: Salt Palace Information: (847) 297-646- FRIDAY The ProvoOrem Chamber of Commerce is offering Y2K seminars Fridays at 9 a.m. This week's session will address inventory issues. Subsequent sessions are scheduled for Nov. 6, 13, 20. Location: Historic Utah County Courthouse. 51 S. University Ave., Room 319, Provo. Time: a.m. Cost: Free Information: 379-256Y2K SEMINARS: WEDNESDAY TASTE OF PROVOOREM: The Chamber of Commerce is sponsoring the Taste of ProvoOrem in conjunction with the Great Kid Awards Oct. 28. A sampling of food from restaurants and shops throughout the valley will be offered. Location: Provo Marriott Ballroom Time: 11 a.m. to 2 p.m. Cost: $3 Information: 379-256, INSURANCE DAY: Governor Michael Leavitt and U.S. Congressional Candidate Lily Eskelsen will speak at the annual Insurance Day meeting sponsored by the Utah Chapter of Chartered Property & Casualty Underwriters. Location: Park Marriott, Salt Lake SUCCESS BUILDER FORUM: The Salt Lake Area Chamber of Commerce has scheduled a retirement forum Wednesday. Guest speaker is Lawrence Barusch of Parsons Behle & Latimer. Location: Chamber office, 175 E. 400 South, Salt Lake City Time: a.m. Information; 328-504- 9 a.m. Information: (801) copies Hourly & SUPPLIER DEVELOPMENT CONFERENCE: The Utah Procurement Technical Assistance Center is sponsoring a conference. The event will give Utah businesses an opportunity to meet with more than 200 purchasing agents from government agencies and corporations. Location; Salt Palace Convention Center Time: 8 a.m. to 3 p.m. Cost: $50 includes lunch Information: (801) 538 8792 or dblairdced. state. ut.us. NOV. 12 MORTGAGE LUNCHEON: Merrill Lynch is sponsoring a luncheon to discuss some of the mortgage financing 426-607- NOV. INTERNET AND TECHNOLOGY EXPO: Carbon County Future, SmartUtah and the College of Eastern Utah are sponsoring the Carbon County Internet and Technology Expo Nov. 19. Location: Student Union Building, College of Eastern Utah, Price. Time: 10 a.m. to 8 p.m. Cost: Free Information: (435) 636 3295 CALENDAR POLICY The Business Events calendar lists upcoming seminars, workshops, meetings, expos and older events in the business community. If you wish to have an item added to the calendar, send a written announcement at least 10 days before the event to: Business Editor P.O. Box 717 Provo UT 84603 fax: 373 5489 options available. Location: Riverside Country Club. Time: Noon Cost: Free WOMEN'S CONFERENCE: The Salt Lake Chamber of Commerce has scheduled its 22nd annual Women and Business Conference Nov. 4. The theme of this year's conference is "When Life Gets Tangles Up Tango On." The conference includes educational seminars, exhibit booths and networking accounts available A.R.O.M.A. COMPUTERS v Wi black& white copies Business cards, letterhead & envelopes reception 3 Intel Pentium 11450MHz Intel Pentium II 400MHz Intel Pentium II 350MHz System Configuration: 2yr Parts & Lifetime Labor . INTEL CPU, 4480BX Chip, 64MB SDRAM, 5 2KB Cache, 6.4GB UDMA Hard Drive ATX Mid Tower, 3.5" Floppy Drive, 4MB 3D AGP, Sound Blaster 16 32X . 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Watson, based in Corona, expects to record a charge of about $14 million at the time of closing, expected in early 1999. TheraTech, based in Salt Lake City, will become a Watson Pharmaceuticals unit. The transaction is subject to TheraTech shareholder approval. drug-deliver- 19 SUNDAY d computer rental Fax transmission Free 328-506- MONDAY 553-981- Get fast, friendly service around the clock at Kinko's Business Information: (801) Time: TRADE SHOW: The Utah International Business Development iwll Office hold a global marketint workshop for Utah businesses. The workshop is aiomed at companies interested in exhibiting at CeBIT '99 in Germany. A complimentary breakfast will be provided. Location: Wyndham Hotel, 215 W. South Temple, Salt lake City 1 Time: a.m. color printing RVSP: opportunities. Location: Salt Palace Convention Center Time: 7:30 a.m. to 4:30 p.m. Cost: $125 members, $150 City HIGH-TEC- 226-512- 5. 3R COPlf . t, purchase of Rubbermaid is by far its biggest and most significant. In the past two years alone, Newell has scooped up gourmet-cookwar- e brand-ne- ' : f7b . Popular brands d He O Newell Wal-Mar- " jhS Rubbermaid Document binding d YZat;& 111 would double Newell's annual sales to more than $6 billion and significantly increase the company's line of consumer product include to offerings Rubbermaid's plastic and rubber products, as well as its Little Tikes toys and Graco strollers. Digital ; power- Purchasing !Peruse new Looking for helpful Creating consumer-product- s 111. based house, Freeport, Newell Co. has agreed to acquire Rubbermaid Inc. in a stock swap valued at about $5.8 billion plus $500 million in debt. Steven Tolley Gallon PROVO a Technologies, local company specializing in national certifi- cation and licensure of the information technology industry, has signed a definitive agreement to acquire the Utah-baseInformation Technology operations of privately-helChauncey Group International of Princeton, N.J. Based in Orem the Information Technology operation of Chauncey provides . INTEL CPU, 440LX Chip, 32MB SDRAM, 512KB Cache, 4.3GB UDMA Hard Drive . 32X ATX Mid Tower, 3.5" Floppy Drive, 4MB 3D AGP, Sound Blaster 16 CD-RO- Keytronic 104 Keyboard, Logitech 2 Button, 20 Watts Speakers, 5" Monitor .28 Dpi 56K Modem, MS Windows 98, Tutorial CD's & Encyclopedia etc. LOOK FOR OUR ADS IN THE DAILY HERALD AND THE SALT LAKE TRIBUNE. WE CUSTOM BUILD SYSTEMS AND SERVERS! Provo, UT - This innovative lender has expanded service to Homeowners who have had credit problems in the past. "HOME" has designed mortgage programs for people who have been refused by other Banks. 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