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Show Lsafe The Magna Times, Thursday August 8, 1 985 Page 5 minm dbd BY KELLY K. MATHEWS During the second half of 85, Utah adjusted basis, Junes nonagricultural employment was only 2,800 jobs above January, seasonally should experience sustained growth. But in many industries, this rate of increase will continue to narrow, according to Robert B. Nixon Jr. Manager Magna Branch, First Security Bank. As a whole, economic growth in Utah in the first half of 1985 exceeded the national average, but second-hal- f performance may be more in line with national average, but second-hal- f performance may be more in line with national trends. First-quart1985 total personal income in Utah was $16 8 billion annual rate, an increase of 7.9 percent, compared with an 8 3 percent gain in the fourth quarter and a national increase of 7.4 percent. indicating that much of the increase occurred in the second half of 1984. Over the past year, more than 70 percent of the new jobs created were in the trade and service sectors. In the second half of 1985, employment growth in the -- ' ' s A manufacturing and construction industries is predicted to remain moderate, while the rapid growth in the trade and service sectors should er begin to slow. Demand for housing and mortgage loans should strengthen in the half of 1985, reflecting continued job growth and the lowest mortgage rates in the past five years. fixed-rat- e In recent weeks, mortgages varied near ll-- i percent a range expected to persist in the months ahead. Reflecting a somewhat sluggish real estate sales market prior to May, the median sales price of existing singlefamily homes in Salt Lake City in the first quarter of 1985 was $63,900, down 4 percent from the previous quarter and essentially unchanged from the previous year. Through the first six months of 1985, residential building permits totaled 7.422, a decrease of 17.3 percent over last year. Single-famil- y Utahs jobless rate recorded r, major improvement in the second quarter, declining to 6 percent from 7.1 percent in March. Much of the decline, however, reflects the partial assimilation of laid-of- f Kennecott workers and a decline in the labor-forc- e growth rate from 4 percent to 2 percent. The unemployment rate in the second half of 1985 should vary between percent. Total nonagricultural employment in June was 627,900, an increase of 24,200 jobs or 4 percent above last year. This, however, is somewhat measured on a misleading; 12-'- 4 llu mm w permits at 4,156 were also percent from 1984. ' POSSIBLE OVER BUILDING down 13.8 m Salt Lake County in 1985. With an annual absorption rate in recent years of 2,500 units, the possibility of significant over building in multifamily units is likely. Furthermore, rental rates will be under pressure for at least the next two years. Consumer spending in the second half of 1985 is critical to the states economic health. In the second quarter of 1985, consumer buying and borrowing strengthened relative to the 4 8 percent sales growth-ratrecorded in the first quarter. First-quartsales in the retail sector were up 5.7 percent, but motor vehicle sales showed only a 2.7 percent increase. The number of new car and truck sales in Utah during the first quarter totalled 18,838, up only 1.2 percent from the previous year. Nationally, economic growth is expected to improve in the second half of 1985. In contrast with the sluggish 1 percent growth rate recorded m the first half, the outlook is for a percent expansion pace. Much of the weakness that was experienced was centered in the foreign trade sector and in a slowdown in inventory investment. 2-- 3 f Consumer spending, which two-third- ever-high- t overseas production. In recent weeks, the value of the dollar has depreciated about 10 percent on a tradeweighted basis and is expected to decline somewhat further m months ahead. While the lag time may be a year before the Exchange-rat- e months, while the factory utilization rate in June at 80.3 percent was significantly below the August 1984 peak of 82 8 percent. Nevertheless, the June consumer confidence survey revealed higher buying plans after dipping in May. Lower interest rates, continued income gains and stable inflation should help sustain consumer buying and borrowing in the second half of displayed before the American 1985. A 1985 cheaper dollar on foreign exchange markets will be directly reflected in higher import prices. Currently, however, an index of raw material commodity prices is down 4 percent from April and 11 percent below a year ago. With oil prices still accounts for about s of Real GNP, recorded growth rates in excess of 5 percent in both the first and second quarters. An percentage of domestic demand, however, was being supplied by e Tourism in the months ahead will remain a strong component of economy. Visitations to state and national parks in the first five months of 1985 were up more than 10 percent. U LOOKS BETTER NATIONALLY A recent survey showed that 8,000 apartment units may be completed ifiir weakining, accelerated inflation over the next six months would seem rather remote. The irresponsibility seemingly inherent in the federal government budget process is once again clearly public. The optimism initially felt by financial markets when were budgets preliminarily approved is now deficit-reducin- g fading. Hopefully, some day the voters will realize the economic costs incurred by blatant political the thwarting staging budget process. Interest rates for the remainder of will probably remain above the June low point. Since March, an easier monetary policy contributed to the fall in interest rates, the direct intention being to invigorate economic growth and ease the dollar e markets. price on foreign-exchang- Accordingly, market-determine- d interest rates in the months ahead should vary between their June lows and one percentage point higher. Thus, the expected range for percent Treasury bills is 6t34- and for Treasury bonds, ij adjustments favorably impact trade flows, the previous continual worsening of the trade balance should stabilize in the second half. The slowdown in the industrial sector is very factory payroll employment 220,00 jobs during the nations serious, dropped past 12 MONDAY NIGHT HALF PRICE FAMILY NIGHT 5 to 8 p.m. LL FOOD HALF PRICE EXCEPT DRINKS me 250-922- Toni lovos to discuss events with customers. They provide a source of entertainment . as well a keeping him abreast of whats going on. - too With his Super Dad cap on, Tom feels a source of satisfaction as he looks around the cafe. A lot of hard work has been put forth just so this day could be a reality. Tom would welcome you to drop by and say hi in his new cafe. 0 The Old Foils Cdfe by Laura M. Smith, MBA As evening approaches the remote suburb of Magna, the mountains forming its western boundary turn a deep blue, and the once bustling, now Magna. Utak 5 Now is the time to subscribe to the that it is uncomfortable for these people, but nice enough so that these same people can take their wives there later. I have never forgotten so nice curiously short, Main Street commercial strip quietly retires. On July 1, 1985, a small amount of small town flavor-th- e Old Falls Cafe- - added a touch of spice to the Main Street area. As a result of Tom Monserrets action to remodel the Old Magna Tavern, other small businesses may be lured to the commercial strip. The community center now looks like a ghost town with rows of shattered windows, boarded buildings and broken pavements, was the sobering picture painted by the Deseret News on October 29, 1974 on the conditions of Magnas Main Street. The Salt Lake County Planning Commission has received such reports as, The heart is weak and needs care! and New construction has not been brisk ! In a hard-boile- d approach to the business drought along the commercial Monserret gutted the interior of the Old Magna Tavern strip, two years ago, in a single-hande- d effort to ressurect one of the many deteriorated and dilapidated buildings along Main Street. Says Monserret; was able to work when I felt like it, and in stages, over the last several ' years. a father of six children and currently single, is a stubbornly Manserret, determined man and a spirited survivalist.The cafe has everged despite the relocation of the citys commercial center to the Arbor Shopping Mall and the slow exodus of small businesses from the Main Street area . Large orange letters are informally painted across one of the front windows of the cafe, which overlooks broken sidewalks and a potenially charming town. The letters spell the Little Falls Cafe and are the contribution of the director of a forthcoming feature film entitled Just an Ordinary Guy, starring Valerie Bertinelli. Under' his direction, set designers inscribed the words. Monserret left the words as they were filmed. Inside the cool, brightly lit cafe, Manserret is bent over a sink of dishes and on his head is a blue and white cap imprinted with the words, Theres ; Life After Kennecott. In a soft but solid tone, Monserret says, The residents of Magna expect special treatment. Ill never forget when an old friend of mine said, The lunch bucket trade are your most important Customers. Dont fix up your cafe this! Monserrret is the oldest Magna resident with a license to run a cafe and a bar. He is the former owner of the Orbit Cafe and Lounge and the Orbit Trucking Company, recently purchased by the government for the construction of the highway. Furnishings in the cafe include numerous booths, a bar, a juke box, pin ball machines and a pool table. I bought everything from everywhere over the last 20 years, just because I thought that one day I would need them! says Monserret as his exploring eyes scan the store. Monserret, a seasoned cook, offers his customers the opportunity to savor his omelets, hot roast beef sandwiches, breaded veal, top sirloin and other dishes, from "the hours 6 a.m. to 3 p.m., in order to accommodate , n Magna residents. There is considerable controversy over the timeliness of and the risk in- volved in Monserrets decision to establish a business, specifically a cafe, on - the 'Main Stree commercial strip. For the people of Magna, the narrow street is steeped in history, and it has come to represent the relentless struggle of proud small businesses and their struggle with assault of high volume, inexpensive big businesses. There is a large residential area in Magna to support Monserrets business and many other small businesses on Main Street, says Harry Doutis, 32. Everyone who owns land on Mam Street is waiting to see what the next - guy wants to do, says Nick Kochonis, a former owner of the Rock Springs Market and a current real estate owner Kochonis says, Monserret has moved, and others may follow. For businesses along Main Street to flourish, there must be a broad range of businesses, so Magna residents will not find it necessary to go to the Arbor ! Shopping Mall or Salt Lake for their supplies! Schaffer Steve says, If the people of Magna Community organizer foster pride m them community, as well as a community identity Main Meet will thrive. Monserrets attempt to restore pride in Magna is significant ' 00 MAGNA TIMES -i- ts good end getting better end better. help you make up your mind, we are offering a full year of a great newspaper (reg. price $8) for only To with this coupon. So hurry hurry, hurry! THIS ONIY TILL OFFED GOOD AUGUST I IMS Name Address .State City, Phone. . .Zip Mxam mm MAGNA TIMES, 9124 W. 2700 So., Located in Magna, Utah 84044 traditional downtown Magna OAK & BRASS PRODUCTIONS ACE, iurrrjRt 1 CEDAR FENCE SALE COMPARE AND SAVE 1x4x6 Better 4x4x8 If 2 Post FEATURING: ANTIOUE FURNITURE. UNUSUAL LAMPS. VINTAGE GLASS. UNIQUE COLLECTABLES. CLOCKS AND CRYSTAL A GLASS REPAIR 2x4x8 Cedar Rail WE DELIVER .9632121 1 BUILDERS MAR3555 West 3500 South Granger, Utah - AUG. .14. 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