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Show The Salt Lake Tribune BUSINESS CONSUMER CORNER, C-2 Market Indicators MBUSINESS GLANCE, C-3. MISTOCKS,C-3 MI DILBERT, C-5 MAY7, 1999 Average HomePrices on Wasatch Front and Back __ Homessold in thefirst quarterof the year range from an average of $89,413 in Weber County to $1.35 million in Park City NYSE_ Dow | Industrials _ TOOELE CO. SUMMIT CO. WE BER CO. crc ee None NonT \GRANTSVILLE 84029 S&P500__ acre! NASDAQ_ 84022 ho PARK CITY 84060 Utah's ah'ss Top Performers —]_ The Bloomberg Utah Index measures the — OOELE . aor puGway RUSH VALLEY 84069 ‘34071 VERNON 84080 = & SALT LAKE CO UTAH CO. rN stock performance hn form of the state's major publicly- held companies NORTH lElie 94043 St oo OREM 84058 84602 Stock ices ended lower as cautionary by Federal Reserve Chairman Alan Gente! fed investors’ increasing worries PROVO oe) — 84664 CEDAR FORT unis aboutinflation, Files Show Caldera Cost For RS-DOSat $400,000 } annguancry|a GOSHEN \ Fava Caldera Inc., a small Orem soft- 84655 warefirm, paid $400,000 to purchase Novell Inc.'s waning DR-DOS busi- 1994 Caldera, backed by retired Novell chief executive Ray Noorda, bought the DR-DOSbuiness in July 1996 and lawsuit against Microsoft. The litiga- tion seeks as much as $1.6 billion in damages, contending Microsoft used overly aggressive licensing agreements and other anti-competitive tactics to destroy the market for DR- DOS. In April, Calderafiled its 188-page (SUMMITCO. [TOOELECO. [UTAH CO. DAVIS CO. ZIP AVERAGE |CODE PRICE ZIP AVERAGE CODE PRICE ZIP_ AVERAGE|| ||CODE PRICE ZIP AVERAGE] ZIP AVERAGE] ||CODE PRICE |CODE PRICE ZIP AVERAGE |CODE PRICE 84006 84020 84044 84047 84067 $115,727 84310 $191,000 84315 $151,718 84317 N/A* 84017 N/A*| 84036 NAS 84060 $1,351,400} 84061 N/A* 84022 84029 84069 84071 84003 84004 84013 84042 84010 84014 84015 84025 N/A‘ $249,470 $100,034 $131,797 $177,607 $138,557 $132,191 $147,002 $269,076 $226,967 $169,664 $202,850 84101 84102 84103 84104 84105 64106 84107 84108 84109 84111 84112 84113 NA* $129,090 $229,153 $90,076 $164,908 $141,640 $161,875 $239,657 $201,096 $103,807 NAT NAY 84115 84116 84117 84118 84119 64120 84121 84123 84124 84128 $105,942 $112,533 $219,508 $119,888 $114,150 $119,005 $243,669 $120,463 $220,784 $117,351 $193,305. In the the Avenues (84103, 84112 84602 NAY 84604 $204,256 84606 $123,863 84651 $124,415 |84043 $146,709 84653 $187,994 |84057 $136,297 a4655 $127,639 |84058 $165,996 84660 $143,254 |84062 $157,824 84663 $160,208 |84097 $224,647 84664 $165,341 184601 $119,551 AveragePrice ~ 1099 _= $157,802 198 = $152,307 Source: Wasatch Front Regional Multiple Listing Service| Steve Baker The Salt Lake Tribune 235 and 84111) the averageselling price droppedfrom $203,280in the first quarter of 1998 to $184,759the first quarter of this BY LESLEY MITCHELL year. THESALT LAKE TRIBUNE Realtors say The Avenues area near downtown Salt Lake City. Parts of Salt Lake County's east bench. Much of BountiTheaverageselling price of homes in these and other pared to the sameperiod in 1998, according to a report Online auction company Ebay enough demand,” said Dottie Burnham of Coldwell Banker Premier in Bountiful. “The only thing holding and sell- $164,459 $313,970 N/A* $217,071 “area had too few sales for a reliable average. Bountiful’s 84010 dropped to $186,760 from by the Wasatch Front Multiple Listing Service It's the classic situation of too much supplyand not quiries will be from buyers may 84124) down to $213,716 from$: EbayIs Already Hiring Thepositions, which will start at around $11 an hour, involve answer- . Agents cite simple case of supply and ZIP codeareasdeclinedin this year’s first quarter com- ing e-mail inquiries sent to the San Jose, Calif -based company. Thein- 84074 $128,821 84080 NA" 84083 “NAY Average Price 1099 = $130,770 1098 = $121,496 demand; fewer families moving to Utah next January. ing for several hundred positions. 84098 $301,230] aerage price 1qq9 = g559.331 1098 = $385,691 N/A $146,298 N/A* NAY 84037 84040 84041 84054 84056 84075 84087 84405 $186,760 $178,438 $110,017 $201,213 $173,428 $180,337 $129,186 $215,944 NAY $152,019 $154,253 $142,576 AveragePrice - 1Q99 = $154,653 1098 = $148,381 Real Estate Market Flattens, With SomeSlight Gains and Declines ful Draperin July, said it has begun hir 84401 $89,413 ]84403 $139,201 84404 $105,906 84405 $142,576 84408 N/A 84414 $164,505 He erage Price : ~ 1099 = $124,750 1Q98 = $120,012 AveragePrice - 1099 = $163,757 1098 = $161,129 The two companiesarefiling written arguments in advance of a series of hearings that will begin later this month. U.S. District Judge Dee Benson will then decide which, if any, of which announced this weekit will opena customerservice centerin DETAIL AREA [WEBER CO. claims damages in the hundreds of millions of dollars. Caldera’s claims will proceed to trial as ZIP_ AVERAGE Ee AVERAGE] ZIP AVERAGE] CODE PRICE CODE PRICE |CODE PRICE 84065 84070 84084 84088 84092 84093 84094 84095 immediatelyfiled a private anti-trust UTAH Serine salt ake o, f SALT LAKE CO. DR-DOS, an operating-system program that enables personal computers to execute basic functions, competed with Microsoft's MS-DOSin the 1980s and 1990s. But in the face of sagging demand for DR-DOS, Novell halted its development of the system in Davis Co. togete Co. Prone PHO0S | { ness in 1996, new federal court filings reveal. version of the battle between the operating systems. In Microsoft's response, filed this week in U.S. District Court in Salt Lake City, the software giant argues Caldera has misstated facts and used quotes from internal email and memoranda misleadingly. Microsoft also objects that Caldera’s account does not acknowledgeit acquired DR-DOS — and Novell's legal claims over the operating system competition — for just $400,000, but yee Na PMMOBS buyers are demanding morefrom sell- thefact that fewer people are moving to Utah Netin-migration — the numberof people movinginto they are making lower offers. “Buyers arewell awareof the softening in the market,” said Hilea Walker, a Salt the state minus those moving out — totaled 2,000 in 1998, down from 31 in 1994, according to the Bureau of Economic and Business Research at the Univer- warrantyor pay closingcosts. Andin the slowestareas. LakeCity Realtor While some areas saw lower averageselling pricesin thefirst quarter, most saw increases. They include Draper, (84020) up to $249,470 from $222,129. indy 092, 84094 and 84070) upto $203,614 from $177 wereflat in the first quarter in manyareas,including West Jordan (84088), down to $147,002 from$150,053; South Jordan (84095), down to 2,850 from $209,050, and the Holladay area (84109, 84117 and ing prices along the Wasatch Front is Tooele, which at $130,770, is up nearly 8 percent The Multiple Listing Service report providesa first milliondollar properties that sold in the Deer Valley area, said real-estate agents in the Park City area. Agents attribute decreases in average selling price to ers, asking in someinstances that they throw in a home @ Layton, (84040) upto $180,337, from $176,018. gden, (84401) upto $89,413 from $81,803 @ Provo, (84601) up to $119,557, from $102,285 County by county, Wasatch Front real-estate prices still areincreasing, but only slightly up prices right nowis lowinterestrates. ever comparison of average quarterlyselling prices from oneyear to thenext. It shows prices declined or All others with the exception of Summit Countyrose by half that rateor less. In Summit County, the average selling price was $5: up 45 percent from firstquarter 1998. Tho: averages were skewed by multi- The county with the greatest increasein average sell sity of Utah Realtor Beverly Wiser in Farmington put her $540,000 homeon the ket earlier this year and said shewill notbe surprised if shewaits as longas twoyears to sell it “Thehigher price rangesaretaking longer andlong er to sell,” she said. somethingelse “We won't even be looking for until we find a buyer for this one Jim Naccarato, president of the Wasatch Front Multi ple Listing Service, said some of the drops in average selling pricein various ZIP codes may be skewedif they See REAL ESTATE, PageC-5 ers ofitems posted on Ebay's Web site, wwww.ebay.com. Ebayhas morethan 3.8 million registered users who buy andsell an. tiques, books, collectibles, toys and other items, About 2 million items arelisted for sale, with 250,000 addi. tional items being added daily. Companyofficials said Thursday that Ebaywill providetraining and is looking to fill shifts that run 24 hours a day, seven days a week. Bilingual representatives also are being sought Interested parties may contact the Utah Department of Workforce Services at 1385 S. StateSt,, Salt Lake City. Phone: 468-0000. Utahn Opposes Legislation Utah Insurance Commissioner Mer win Stewart is speaking out against the Financial Services Act of 1999 The measure, which is making its way through Congress, would allow banks, insurance companies and secu: rities firms to expandinto each oth er’s lines of business But Stewart says the measure would weaken the state Insurance De- partment’s ability to provide consum: ers with protection against companies that are cheating consumers because it would allow these companies to —————$— Greenspan: How Long Will the Good TimesRoll? “Of most concern is how long this remarkable periodof prosperity can be extended.” economy's strong growth and low infla tion “truly phenomenal” on Thursday but he also expressed worries about "im. balances in our expansion” — andthat sent jitters through Wall Street, Investors and analysts saw Green span's comments as a warning signal that limit to how long and how far” Alan Greenspan Fed chairman America's soaring tradedeficits can row without bringing international pressures to bear onthe U.S, economy But Greenspan reserved his greatest worries for tight labor markets, which have driven unemployment downto a year-low of 4.2 percent, far below the level of 6 percent unemployment that flation in three decades, the central bank is worried ‘Of most concern is how long this re- economists tended,” Greenspantold an audienceat an international conference on banking in Chicago. There are imbalances in our expan sion that, unless redressed, will bring this long run of strong growth and low BY PHIL SAHM used The parent company of Kennecott Utah Copper aims to bust the union at its in mines, and won't stop there if it even though Americais currently enjoy ing the best combination of rapid growth, low unemployment and lowin markable periodof prosperity can beex Rio Tinto PLC accusedoftrying to get rid of Australian union THE SALT LAKE TRIBUNE THE ASSOCIATED PRESS WASHINGTON — Federal Reserve Chairman Alan Greenspan called the Union Targets Kennecott Owner to believe was the eds, union officials asserted Thursday Rio Tinto PLC of London bought the Gordonstone Mine from Arco Coal Aus: tralia Inc. and took control of the mine in February In 1997, Arco locked out more than 300 union coal miners said Stuart Vae- caneo of the Austra Construction Forestry, Mining & Energy Union. After thresholdpoint at whichtight labor mar kets would begin to trigger inflationary pressures buying the mine, Rio Tinto tried to hire nonunion workers and will not agree to nspan said Thursday he be court, andif the company loses, it will n't occurredin this expansion, reasonfor that was a burst of productivity in recent years stemming from heavy investment by businesses in collective bargaining, Vaccaneosaid ‘The Australian union took Rio Tinto to close the Gordonstone Mine and leave Vaceaneopredicted, “Thereis no doubt in mymindthis is what they haveinstore for anywhere they own mines that are elect to be regulated at the federal level. inflation to a close. computers and other high-tech gadgets of the information age. consumers would benefit because ex pansion of banks and insurance com stock market could suddenly come back to earth, causing a reversal of the wealth productivity cannot keepinflation at bay forever because sooner or later the dwindling pool of workers will start de with Kennecott executives Thursday manding wage hikes that can't be cov morning Advocatesof the legislation say panies would offer them more Moices ‘As he has in the past, Greenspan ex pressed concerns that the high-flying effect that has powered consumer spend Thg. Greenspan also said there whs a Greenspan warned that the gains in by rising productivity unionized,” he said Based in Magna, Kennecott operates the Bingham Canyon Mine. Vaccaneo and other union representatives met Kennecott spokesmanLouie Conone. aid he is aware of no directive from nto for Kennecott to bust unions. We've had a long-termrelationship with unions,” Cononelos said. “We have always honored our contract and bar: gained in good faith with our unions. ennecott is in the middleof a six-year ct with union employees, he said. Rio Tinto’s actions portend trouble for unions worldwide, and the only way to fight the multinational corporation is through multinational unions, Vaccaneo and others said Decadesago, other unions might have joined the Australian cause with sympa thy strikes. But these days, they fight with more sophistication. Union pension fundssteerbillions of dollars in investments and can influence decisions at a numberoflevels, said Terry Bonds, of the United Steelworkers of America. “We know how to fight these battles,” Bonds said. In addition to Vaceaneo and Bonds, Australian and international union officials and Utah's AFL-CIO director, Ed Mayne, promised to support the lian miners. Vaccaneo hae union members in Toronto Waslaaton geles and plans jp go to W. D.C., as well |
