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Show ThesSalt Lake Tribune BUSINESS Mi CONSUMER CORNER, E-9 Market Indicators Industrials BBUSINESS GLANCE, E-40 MAY27, 1999 Ml DILBERT, E-42 Watchdogs Warn Against Rogue Brokers a Dow Mi UTAHBRIEFS, E-9 Page E-8 NYSE _ Proposal in Congress could open state’s bordersto nefarious stock agents, say Utah regulators BY STEVEN OBERBECK ALT LAKE TRIBUNE Investors beware S&P500 NASDAQ Utah sec to deny licensesto individual brokers — eventhose who have histories of trying to ripoff consumers Rogue brokers pose a ilies regulators are worried the feder “overnment soon could force themto give out-of-state rogue stockbrokers free rein to peddle stock to un wary Utah investors Roguest ockbrokers areindividual bro kers who have ahistory of viclating state andfederal securities laws, UtahSe ies Division Director Tony Taggé Congressis considering a proposal by an association that reypresents the nation's stock brokerages that would take The Bloomt away the power of Utah and otherstates serious risk to the financial health and safety of Utah investors, Taggart said. “Wewant to be able to keep themout of Utah by denying themalicenseto operate here The Senate Banking Committee is con sidering proposals to modernizethe nation’s securities laws. The Securities Industry Association (SIA), an organization that represents the nation’s brokerage houses, believes that bydrastically reducingtheability of state that idea What weare worried about is this will set off a race to the bottom,” NASAA securities regulatorsto licenseindividual stockbrokers, it can do away with unnec- essary regulations spokesmanMare Beauchamp said Rogue brokers, Beauchampexplained, ‘The main thing we are trying to ac: complish is to avoid the unnecessary overlap of regulations [among the states and federal government],” naturally will try to get licensed in the states that have the weakest securities said Dan Mi chaelis, SIA spokesman laws and the weakest oversight of stock Under the SIA’s proposal, individual broker activities. brokers will only haveto belicensedin a Utah last year licensed 65,838 brokers single state. And that would givethem the to sell stocks to investorsin thestate, a where stock brokers, Taggart said. At the same time, Utah denied 593 brokers licenses ability to sell stock to investors every figure The North AmericanSecurities Administrators Association, which represents included 5,000 Utah-based because0: Microsoft Co-Founder from a four-day slump inking and Internet Buys Falcon Wyoming Warms to Sale Of Energy Firm to Scots Purchase makes Allen 4th Scottish Powersaid it plan to buy Utah Power's parent compa Pacifif B n gained support from Wyoming regulators a th S. officials are largest U.S. cable provider BY SETH SUTEL first acquisition of a power producer THE ASSOCIATED PRESS by a foreign company NEW YORK — Microsoft cofounder Paul Allen took another big step towardhis goal of creating a technology and entertainment empire Wednesday with the $3.6 billion pur. chase of Falcon Communications, a Glasgow. Scotland-based Scottish Power said the staff of the Wyoming Public Service Commission has agreed to back the transaction. Wyoming’s three issioners. however. still must approve the purchase. and cable TV company The transaction, which includes h, stock and assumed debt, will they are not bound by the recommendation oftheir staff Thepositive reception in Wyoming comes after the staff of the Idaho Public Utilities Commission saidit Allen's make Charter Communications the would back Scottish Power's plan to buy Pacificorp, which sells electricity fourth-largest ca west to 1.5 million customers in the ern United States ble television op- tor in the na tion with Utah's Pu Service Commission scheduled to consider th is acquisition electricity Utah million ers to 602,000 customer The partment of Work air base is ex gre than 2 000 ad her Air Force Paul Allen over as companies movetoward offer- ing phone. Internet and interactive video services over cable TVlines. At seminar, fashion counselors explain what to wear once graduates take offtheir caps and gowns the next few eady at $s about 36,000 to your job interview. Mann said during the I prom more than f | and military jobs in Davis and | ounties | id obs openuf | fficials wil notify the Work | « Services Clear | to want to look is hip Allen hadbeenadvocatingjust s a system for years, and has been busy amassing anarray of holdingsin hightech and entertainment firms as part what you don't of his “Wired World” strategy. His His message was well-received, but learly was not for everyone. He's way too conservative,” said Cody Henrichsen year-old West- take minster stud: entry intothe cable TVbusiness a year ago was seen as astrong endorsement of that tec hnolog:gy as a carrier of en. tertainment and who plans to graduatein teach high December I'm going to school I want to look nice, look stuffed © T have in ‘ Loga’ Informat added at Hil Department pooth N how J m software | a al 1 1 helt and Ogden Har nature aca lack i isa kis problem. Il ays a white shirt hite Mann said in manner White is ser rich which owns interests in the NBA's eminar feeling a bit New York Knicks and the NHL's New York Rangers. Allen also has a stake in the DreamWorks SKG movie stu dio He began his cable campaign a ble about her pending ca | ne available al of Workforce Service Aur hed World Markets. Allen also owns two professional sports teams, football's Seattle hawks and basketball's Portland Trail Blazers, a strategy employed successfully by Cablevision of New York d wear [a d. suit) for the inter view, but not because I wanted to,” said stminster 5 tudent Wil McKean Melanie Richardson walked away h am f suit, someone hip color That right there said Mann. “When you gc graduate this sum. ee in account year settin fess. interactiveservices. Charter has a competitive edgein the access and availability of these newinteractive services.” said cable analyst. Aryeh Bourkoff of CIBC but I can't Others vowed to follow his advice even if it kes them a tad self-con www. dws.stateulu was ilted the multibillionaire into the top ranks of the U.S. cable industry ich is undergoing a massive make. Students Learn to Suit Up for the Business World s working with Hill subseribdeal the latest in a The Salt Lake Tribune ordstrom’s wardrobe consultant Tara Sampsonreaches for clothing she brought to the “Dress for Success” seminar Jay at Westminster Colleg class was geared at helping graduates dressfor interviews and job situations. Hill AFB Job Listings he xpulous behavior or ber causethey hadviolatedsecurities laws. state securities regulators, does not like with the $2.8 billion pur- ed in a professional able to look pro chase of Marcus Cable Co., which was then the nation’s largest privately held cable operator. His second major purchase came last July with the $4.5 See FINAL LESSON, Page E-12 billion deal for the St. Louis-based Charter, which has become the vehicle so I want t she said forhis other cable buys. SLOCGrants Rights For Using Olympic Logoto 2 MoreFirms Vitamin Price-Fixing Shocks Utah’s Nutrition Industry BY GUY BOULTON ne xide and smoke a colorless. ss gas commonly mobile exhaust, but od. propane, kerosene Products In mpanies wondering overcharged in aterials in vitamins supplements as Salt Lake Concord Ind nn, will b es that unded in a leasing accused of not disclos- wnting Fred Copyak's interest be leased — an ac knowledged { ing their li Ma: niry 21 Policing the Prowas inc ‘omplete | with its line of $ tee lic | last e-fixing charge t, we are disag 1g Faggioli, chief oper Nature's Sunshine. “Sh ked e a betr word a center of thevitamina: al industry. And companie Nature's Sunshineare tryingto sort t the largest price-fixing Olympic ¢ censee assess See SLOC, Page E-9 \ history will meanfor the n-a-year U.S. market s point, it is difficult to f what impact it will have.” said VITAMIN. Page E-9 Leah Hoxgsten The Sait bal Tribune Nature's Way employees weed out herb capsules that have defects. ‘ 7 . |
