Show 2 F Sunday Kcvem bef 1 1 Too much good news could harm ralty BUSINESS - f By BRUCE MEYERSON i Market roundup Toe Associated Press YORK -- A few surprises and Wall could find itself rooting against the economy again The Dow Jones industrial average jumped 220 points Thursday and Friday amid reports that showed a summer of financial tumult didn’t have the expected dampening effect on two key forces behind inflation: what people make or spend But this is the same stock market that has been riding higher on the image of an economy down on its luck And so it probably wouldn't take much to restore the stock market to its traditionally warped attitude about seemingly good news that a healthier economy can be a reason to sell It's not that the economic vital signs are suddenly flush with vigor The pulse remains suspect the contagions hardly in remission It was the severity of the situation how ever that had prompted a swift response from the Federal Reserve which lowered interest rates twice in less than a month to spark new borrowing and spending While the two rate cuts helped pave the way for October's turnaround in the stock market the rally might have died quickly if not for the belief that the Fed would continue to defibrillate the economy with more rate cuts If the central bank were to sense that the economy is strong enough to be removed from the intensive care unit or that certain inflationary complications may arise from the treatments Wall Street could find itself without the level of care on which it was depending “The equity market has al NEW reports news BusnessPeopIe ! and information about Sorthern : Utah businesspeople To hae items considered for this column information should be received by 5 pm WednesiUty by seniiing it to Business Editor BusmessPeople Standard-Examine- r 455 23rd St Ogden UT 84402 Please include a stamped envelope if you would like photographs re turned You can also fax informa - ' ' 9 non to Sews items about general business happenings are featured in the Businesslidtch 625-429- ‘ column which runs every Hedncs-- ’ das The deadline for submitting items for that column is Fridity at 5pm and operated his own studio in Logan The Layton Hills Mall Office of Wardley Better Homes and Gardens recently announced the winners of the 1998 third ls quarter sales rally The top were Scott Schry ver top listing sales executive Dava Jensen top selling sales executive and Charlie Jones top closed volume sales executive The top team was Gary The Classic Group as indi-vidua- Char-leswort- the top listing Wed-d- Stacey of Ogden has been appointed assistant branch manager at the Bank Zions North Ogden Banking Center in located newly formed Business Equipment Division Leasing of Barnes Banking Co which has offices in Bountiful Kays-vill- e Layton and Syracuse and a Roy office scheduled to open this month Jensen has more than 24 years’ experience in commercial banking including seven years of equipment leasing An Ogden native Jensen has a degree in business management from Weber State College selling and closed volume team Bob Jensen has been selected as manager of the el Smith's Weddel has been with Zions years previously serving as supervisor at the North Ogden office and financial service representative at the Sunset office lf Robert H Jenkins chairman president and chief executive officer of Sundstrand Corp has been elected to the board of directors of Cordant Technologies Inc based in Salt Lake City Jenkins joined Sundstrand a manufacturer of proprietary technology based aerospace and industrial components and subsystems located in Rockford 111 as president and CEO in 1995 He also has worked at Illinois Tool Works Inc and EI DuPont de Nemours and Co -- Stan Postma has been ap- Maw Dave Forsberg has been promoted to vice president of busi- Forsberg ness management of Ogden-baseMarketSiar Corp Fors- d berg is responsible for expanding outsourced sales and marketing services with existing clients Also Leesa Maw has loined MarketStar as an account executive managing the Siemens Wireless and Imation accounts Maw formerly was marketing director for America F irst Credit Union Fred "Trovato has been promoted to senior vice president of the Systems Division of Uinta Business Systems Trovato previously was general manager of the Systems Division at UBS' Salt Lake City office Trovato who has been with USB for five years will oversee the management and service of the PC service enterprise applications and professional services groups for UBS' Salt Lake City Ogden Orem and Las Vegas markets Auditor Stephanie Brown was recently appointed to the team of professionals at James & Co Business Advisors and Brown CPAs has a bachelor of science degree in accounting from Southern Utah University Also Risa Karras was recently appointed to James & Co's administrative support team Karras is a graduate of the University of Utah and brings several years of ad- ministrative experience Jeff Hyde of EnterHyde prises of Ogden has been appointed as Fila Outdoor Division's national sales manager In the newly ated cre- position Hyde will man- age Fila Outdoor's sales forces that sells Fila Outdoor and Winter Sports Apparel of outdoor ski and com-‘pris- snowboard apparel and accessories and Fila Outdoor Foot- wear consisting of alpine mountaineering trekking ap- proach and trail running foot- - wear and performance sandals ' Bob Clark and Chris Bol- Ischweiler are the owners and operators of the new est member of the Moto Photo photo processing and portrait studio franchise network The shop opened at the Layton Market Center in one-ho- I mid-Octob- Clark is a professional photographer with more than 5 years' experience Clark has owned 1 Standard-Ex- a Business 998 pointed by Gov Mike Leavitt to the Utah Board of Professional Engineers and Professional Land Surveyors in the Division of Occupational and Professional Licensing As a board member he will provide advice to the division on matters affecting the licensing of engineers and land surveyors within the state A licensed professional engineer structural engineer and land surveyor with 27 years of experience Postma is the Carter & Burgess Inc Utah Transportation Unit manager Sound Floor Coverings a distributor of commercial and residential flooring products Smith will oversee customer relations regional sales strategies and the regional sales staff and he will continue his sales duties Mike Mitchell executive vice president for Regence has been elected to serve as a director on the national board of the h Foundation of America Mitchell has been a member of the board of trustees for the foundation's Utah chapter since 1994 and is currently the chairman of the Utah board He was installed at the foundation's national conference in Arizona and will serve on the national Make-A-Wis- Communications Committee The foundation grants personal wishes for children under 18 who are facing illnesses Solomon D Trujillo president and chief executive officer of US West is featured in Hispanic Business magazine's October cover story on the 100 most influential Hispanics in the US Trujillo is one of three people whose photo appears on the magazine cover Tlie others are Alberto Ibarguen publisher of the Miami Herald and Olympic speed skater Jennifer Rodriguez Jon M Huntsman has received the 1998 edition of the Philadelphia Business Leadership Award presented by the Union League of Philadelphia to honor people “who not only have achieved outstanding financial success but who have demonstrated its potential for helping society" Huntsman was honored for "outstanding entrepreneurial achievements ex- traordinary munificence to education and health care and great compassion for people throughout the world" Jones 9390 A 9065 8740 859210 139 81 8415 n 8090 for the week ending Fridas October 30 7765 high 933797" juts 1 7 im 7115 18 7440 e 11 2198 '197 81 98 51 98 11 1 98 1200 fS SAP 1150 5oo 1100 1050 109867 28 00 1000 for the week ending Frida' October 301998 900 850 hieh 118675" e Jills 17 IW - 950 800 2198 11 I '97 5 1 111 98 81 98 '98 AP 554-poi- 27 merce Department reported Friday The data represented a sharp improvement from the subdued 8 percent rate of the April-Jun- e period and was well ahead of the 20 percent forecast by most economists A day earlier the Labor Department reported that employment costs such as wages and benefits - which typically acof a prodcount for uct's price - rose percent in the third quarter topping forecasts by a small margin The news wasn't all good The GDP report revealed that exports dropped for the third consecutive quarter of decline Likewise ready factored in two additional (Fed) easing moves” said Ned Riley chief investment officer at BankBoston “Any deviation from this scenario would be dev- 1 astating” Judging from the market reaction the latest economic data dealt no such blows to investors’ sense that more rate cuts are forthcoming Still there were enough signs of continuing inflationary pressure to make a central banker's ears perk up Buoyed once again by the American consumer the nation’s gross domestic product grew at a 33 percent annual rate in the quarter the Com two-thir- 1 The gain of 94 percent was the biggest sincethe Dow rose 138 percent in January-198The monthly point gam was the biggest ever The Dow has now bouncecU more than 1100 points or about 15 percent from the bottom o£a steep selloff that climaxed op ba-fOct 8 when the blue-chi- p i rometer was sliding back tow-arits summer low of 7400 In other trading Friday the Standard & Poor's 500 rose 4 to 109867 up 2800 for the r week LI The Nasdaq composite index rose 1420 to 177139 up 7753 for the week one-mon- th d 12-7- BUSINESS TRENDS Car manufacturers researching pros of plastic By PAMELA SEBASTIAN ket the Commercial Real Estate Secondary Market and Securitization Association adds two sessions to its convention set for this week in New York: "What Just Happened?” and “Now What?" Physician program grows The Wall Street Journal Promoting plastic in cars is an industry goal but skeptics remain steely The American Plastics Council an industry group that hopes some day for an car has opened a research center in Troy Mich to tout the material Hoods and fenders of plastic are fairly common today but an allplastic auto body raises some eyebrows "I'd like to see the petrochemical industry shrink not grow” says consumer advocate Ralph Nader who raises quesretions about pair and durability The council says dings in plastic bounce back better than do ones in steel It notes lighter-weigcars mean better mileage and less emissions Its center is displaying three vehicles including a Chiysler Corp car that is assembled from four pieces without a steel underbody Automotive Design & Composites of San Antonio shows the Baja a sport-utilit- y vehicle that uses a few bolts to join five plastic pieces It says Baja passes computer-simulated crash tests "There is a long way to go between computer tests and the real thing" the Aluminum Association says crash-worthine- ss Joel Smith has been promoted to areas sales manager for Utah and southern Idaho for Dow companies turned more cautious with investment on new equipment increasing at the slowest' pace since 1991 and spending'on new buildings posting the bigeest T drop in 4 years in two of the earlMeanwhile iest hints of business condition? m October the University of Michi-gasaid its consumer sentiment index fell and a survey of mid- -' ' western factory executives showed a drop in manufacturing activity "With consumer confidence waning spending growth will slow (pointing) to slower production growth” said Sherry' ' Cooper chief economist at Nesbitt Bums Securities of Chicago asserting that the GDP report' "does not change the message that more (Fed) rate cuts are—' " coming" ' On Fridav the Dow rose 9707 to 859210 the highest finish in two months The advance gave the Dow a gain of 13981' points for the week and 74938’ for October a happier conclusion ' to a month best known for the crashes of 1929 and 1987 as well as a plunge last OCt! ht PhysicianMBA programs are growing as business schools try to tap a lucrative niche says Dick Kwartler president of Kwartler Communications Inc a Floral Good gripes Park NY outfit He says about '15 schools offer programs for physicians and managers from allied fields and more are planned Rockefeller returns A bust of John D Rockefeller is on display in the lobby of his old Standard Ojl building mark- ing the 69th anniversary of the 929 crash says the Museum of American Financial History It bought the plaster version of a stone bust that was in the lobby until 1956 and is now at Rockefeller University also in New York 1 stock-mark- et Change of program Due to recent turmoil in the d securities mar mortgage-backe- Gripes can be good for business according to researchers Encouraging customers to complain - and teaching employees how how to handle those complaints - is good for business say two marketing professors Stephen Tax of the University of Victoria in Canada and Stephen Brown of Arizona State University in Tempe say the payoff from managing complaints well is great while the downside from badly handled complaints can wipe out years of goodwill The professors sampled about 250 consumers who had recently complained and reported their findings in Sloan Management Review The researchers calculat ed a score based on a consumer's previous experience with a company then weighed it against the score the consumer gave the company on how it handled the complaint The professors found that a longtime customer can be lost through one poorly handled complaint They note that a poor recovery affects a firm's best customers the most because their expectations are highest Briefs Wominvest Publishing a mew outfit in Chelmsford Mass- - has started an investment newsletter for women mm&wm&WWfnrs' d efu 3RD QUARTER 1998 x' ''’$ ' Ziploc i " ' ' x i) - SC Johnson & Son Inc a private company founded in 1886 and run by family members since is cutting the "wax” from its ads and logos which will now say “SC Johnson - a family company” Today wax is a small part of its $5 billion or so in sales from household cleaning and personal-care products and storage items Brands include Windex and "Pyrse cigar-smok- Wax logo whacked Glade called A savvy bicycle-tax- i in New York recently operator on called out to a the street: "Hey mister youA'an smoke in a rickshaw notjn a cab!" Strings" $f v&s a JhX&fcX-'- ' Brett Cherry dT Stew Maclnnes 4 Judy Webber X C-- vWI xi " t "We're looking for that kind of ‘glue’ that brings everything together” says Sam Johnson chairman Three of Johnson’s children are in high posts: Curt Johnson chairman of its commercial markets Fisk Johnson president of its consumer products and a vice Helen Johnson-Leipol- d president who recommended rubbing out the "wax” and focusing on family The Johnsons take their motto to heart At the moment Sam Johnson 70 years old and his two sons are retracing the "Carnauba Expedition” a journey to Brazil via seaplane that Sam Johnson's father took in iwitXsti jLjLjt 'ffsri’Juti A John Wayne Shupe Gary Iverson Scott Gordon '2 A $l Nilton Demacedo Sharlene Ficklin Rick Southwick 1935 Sam Johnson says his father came back from Brazil with the "optimism and vision" that enabled him to rebuild the company after the Great Depression Gail Parsons Jeff Ross Ogden Office 4699 Harrison Blvd Ogden Utah PREMIER REALTY (801)479-190- 0 i ' |