| OCR Text |
Show Ghe Salt LakeTribune ELMO BUSINESS FRIDAY > Mi CONSUMER CORNER, D-2 YESTERDAY'S MARKET Indicators Lee NASD. ee Dow MUTAH BRIEFS, D-2 Gates King of World Biillionaires Club fGap narrowing a betweenchallengers id’s richest’ 1 or recognition as Wor, es [ CLOSE: 657.44 ¢ ’ Utah’s Top Performers Heal f Wi measures the stock : performanceofthe P| accnaior CLOSE: 236.95 ‘< Richest Bl The World’s People The ranking of the world’s richest people, as estimated by Forbes magazine, in billions of dollars. i 1. Wiliam H.Gates Ill 2. Lawrence J. Ellison United States sso United Statés._2 47 SaudiArabia 30 United States 28 Wikahee: topsthelist, though United States ‘Abu Dhabi 28 23 with less money and with a smaller however, thanksto the booms and busts of the high-tech world he helped create. net ve sila oer 7. Gordon Earl Moore United States 21 margin over No. 2. in billions. The world’sbillionaires club expanded this yearto 470, pushing the combined wealth of the richest 200 working people in the world upwardof$1.1 trillion — five more people and a $100 bil- 8. Prince Alwaleed Bin Talal Alsaud 9. Albrecht family Saudi Arabia 20 Germany 20 é — Even though his personal sca fortune shrank by a third this past year, the $60 billion bankroll of Microsoft Corp. coos Bill Gatesstill makes him the world’s richest man, apcOnd ls tosasneS nabaZine s raniinies ‘ The gap between Gates and his challengers is CLOSE: 1,487. 3 D . est 3. King Fahd Bin i S&P 500 Bs S$ rc. oe ane and WIRE SERVICES auices Saw IGRR— ‘TRIBUNE EachSTAFFae * 3845.745 NYSE JUNE 16, 2000 BUSINESS GLANCE, D-4 : narrowing, Abdulaziz Alsaud 4, Paul GardnerAllen 5. Warren Buffett 6. Sheikh Zayed Al Nah lion change from 1999, the magazine reported Thursday. The 10. Alice L. Walton United States +20 rankings appear in the July 3 issue of Forbes, which reaches newsstands today. _ : Medical devices pioneer JamesL: Sorensonis the only Utahn onthelist, s isinglyranking absent223rd isdon with MiBa fortune estimated hi 2 at $2.7 billion. 4 urprisingly absent is Jon M. Huntsman,the chairman andchief 41. Helen R. Walton 12. Jim C. Walton 43. John T. Walton 14. S. Robson Walton 15. Masayoshi Son United States United States United States it States United Japhn 20 20 20 20 4g publicly held companies. See FORBES.Page D-5 ANALYSIS Stocks ended mostly higher Thursday alter being pulled in different directions. Investors had to balance favorable news for technology companies with a profit warning from a respected regional A poorer Gates ‘holds onto No.1 spot M hi 1996 1995 $18 1994 $12.9 Sources: Forbes magazine: compiledfrom AP wirereports United CROSS-Breen CRUISE Will Add S.L. Flights Franklin Covey Co. Buys Back Stock Options Plancalls for three more shuttles daily from L.A. Franklin Covey Co., the West Valley City-based professional:services firm, bought back stock options that couldn't be redeemed because the stock price was lowerthan the options’ exercise prices, or underwater, The Wall Street Journal reported BY LISA CARRICABURU Thursday. The company’s stock has suffered United Airlines on Thursday said it will add three new daily United Shuttle flights from Los Angeles International Airport to Salt LakeCityas part ofa plan that also will increase the frequency of flights from LAX to Seattle and Portland, Ore. as earnings fell. So the unusual tender offer, which cost more than $8 million, raises the same question posed when companiesreprice, or cancel highpriced options for lower ones: Are managersgetting enriched at shareholder expense? Franklin Coveysaysits situation The newflights will begin Sept. 6, and will depart from LAXto Salt wasunusual.It has about 20 million shares outstanding, butmore than 5 Lake City International toreat 8:30 -a.m., 3 p.m. and million options, including a million held by personsno longer with the company. Theoptions program just J Photos by Chris Zuppa/TheSalt Lake Tribune Patrick Byme,centerright above, CEO of Overstock.com, makeshis way uphill on Highland Drive to Draper from Bluffdale while some employeesandfriends accompany him Thursday ona legof his trip across the United Statesto raise awareness for cancer research. Byme has been diagnosed with life-threatening testicular seminomathree times. Bye started his cross-country trip May 30 in San Francisco. He has traveled 870 miles,riding 70-80 miles a day, andwill continue until he reaches Sturbridge, Mass.There,hewill rendezvouswith participants in the Pan-Mass Challenge, a 200-mile road race to Cape Cod on Aug. 4. Overstock.com sells first-quality, branded merchandise of excess inventory such as consumerelectronics at discounted prices. also was a way to reduce potential shares outstanding at a relatively low cost, he says. Thetenderoffer, part of a broader restructuring, was the idea of the chairman, who didn’t hold any op- tions. Park City Gets New Paper City. The Utah companynowwill operate as a division called HealthScout Informatics. Terms ofthe deal were not disclosed. Rx Remedyoperates Websites that provide consumerhealth information andpublishes a health magazine. Utah Health Informatics is a provider of Web-based health assessments,surveys, polls and quizzes. P. MEANS megaplexeswith screens in the double digits for example, Cinemark’s 24-screen RIBUNE If you were planning to see a movie in downtown Salt Lake City tonight, don’t bother with the Crossroads Plaza — the Thursday night. “The theater was underperforming,” said Mark Pascucci, spokesman for Loews Cineplex Entertainment, which operated the Crossroads Cinemas andruns 59 other screensin Utah, With newtheaters offering such amenities as stadium seating, the trend in the in- dustry has been to close older theaters rather thantry to retrofit them, Pascucci added. Also, smaller multiplexes with three or intended to enhance United's service to Los Angeles, the company’s newest hub. United is adding two daily flights from LAX toSeattle and one dailyflight from LA Portland. bringingthe total num: ber of daily flights from LAX to those two cities to 9.5 andeight. respectively. The nation’s largest airline. Chicago-based Unitedfeeds flights from Los Angeles to Hawaii. Eu rope, the North and SouthPacific four screens are giving way to Jordan Landing facility that opened in November. A Crossroads Plaza spokeswomansaid Thursday the theater space has not been released yet. And plans announced last year for a 15-screen multiplex upstairs have been put on hold pending financing, she said. The Crossroads Cinemas’ closure comes 20 years, almostto the day,that it opened on June 20, 1980 with an all-musical line-up of “Fame,”“The Blues Brothers”and the Vil- system was muddy, and seats werefrequently broken or sending springs into moviegoers’ backsides Pascucci said it was too early totell whether the Crossroads’ closure willaffect programming at Loews Cineplex’s other downtownSalt Laketheater, thes' BroadwayCentre Cinemas 300 South and State. If the Broadway's artyfare takes a turn for the mainstream,the windfall could benefit Salt Lake's independent art house, the TowerTheatre. “Obviously, we would be veryexcitedif we saw Broadw s lage People movie “Can't Stop the Music.” In recentyears, though, the cavernous 500- seat theaters — once the location for the er’s manager. Harper said Crossroads’ clo sure and potential changes at the Broad: way “might beindicativec growing dis Sundance Film Festival’s gala. opening nights — havebeenfalling apart. The sound satisfaction with mainstream Hollywood fare.” Beyond Job Training 9 See SWEET,Pic D-2 muchtraffic into L. as it anticipates incr tition from No, 2 America lines on the West Coast, said Aaron Gellman. di orof Northwestern University’s Transportation Center. “And apparently it thinks it can make money ontheseflights.” He said that may prove challenging in Salt Lake City, where United faces formidable competi tion from Delta Air Lines. Basedin Atlanta, No. 3 Delta operates its third-largest regional hub in Salt LakeCity “Unless United lowers fares,it will bedifficult,” Gellmansaid A Delta representative did not immediately return phone calls Thursday BY PHIL SAHM BYJESUS LOPEZ THE SALT LAKE THE SALT LAKETRIBUNE A group of six Sweet Candy Co. employ: ees sat around a table reading from a textk. “What is this?” asked Muradif Sakic, as he mimicked anobject wrapped aroundhis wrist. “It's a bracelet,” id the group's mentor Liz Haanstad-Tre! h. i “This is ring?” asked Sakic, pointing to an imaginary band onhis finger. Haanstad-Trebesch nodded yes, as the three Bosnian and two Vietnamese employees continued to answer questions fromthe reading comprehensiontext. Argentina. “United is tryi Utility Rate-Hike Bill Blasted by Consumers Sweet Candy Goes Green Nominees Sought ‘The Utah Pollution Prevention Association is seeking nominationsfor its annual awards program. ‘The program recognizes efforts made by individuals and organiza: tions to reduce the amountof waste they produced in 1999. Individuals, organizations, businesses, industries, agricultural organizations,trade or professional organizations and governments may apply. Applicat eeby be obtainedby calling 801-536The eclcetiondeadline is July21. Winners will receive their awardsat the annualPollution Preventign Con: fgrence in Salt Lalg City in Novem: noon and 6:45 p.m. Fare information was unavail able Thursday. Carroll said. The additional flights to Salt LakeCity, Seattle and Portland are Crossroads Plaza Cinema Closes Its Curtain for Good mall's three-screen theater closed for good Rx Remedy Inc. of Westport, Conn., saidit has completed its acquisition of Utah Health Informatics vfSalt Lake flights fromtheSalt Lake Cityairport to LAX are planned at 7 a.m.. and Central America, and has ap: plied for flights to Brazil and investor group led by Michael Kearns, Acquisition Completed 8:05 p. aboard Boeing737aircraft. Uiited spokesman TimCarroll said. Daily wasn’t structured right and didn’t provide the right incentive for the right people, a spokesmansaid. The tender Silver King Media Grouppresident and chiefexecutiveofficer. The Wasatch CountyCourier, started about a year ago, has about 3,400 subscribers. 2000 1997 $36.4 banking company. Silver King Media Group LLCsaid it will begin publishing a weekly Summit County newspaper sometime this fall. The Park City Newsinitially will be sent free by mail to 8,000 residents.It also will be distributed on for 50 cents. Thepublication's tabloid format will be similar to that ofthe Wasatch County Courier in nearby HeberCity, which waspurchased in April by an ae TRIBUNE Theprocess for determining utility rate hikes in Utah focuses too narrowly on lowering costs for | consumers, a representative of Questar Corp. said | Thursday | | | gas to Utahresidents, do a good jobof keeping down | SAP HEARINGS. ige D-5 | Lake Tribune Bosnians Muradif Sakic and Ahmet Ozana work to make sense of a reading quiz in a voluntary cr English class at the Sweet Candy Co. Sweetoffers the class t¥ non English-speaking workers, House Bill 320, passed in the waning hours of this year's legislative session, will bring more balanceto therate-hike process, Questar spokesman AlanAll red told the Legislature's Public Utility and Tech: logy Interim Committee during the second day of ings on the controversial measure, Thebill's passagecreated enoughoutcry that lawmakers are considering whether to amendit Utilities such as Questar, which supplies natural | | | |
