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Show The Salt LakeTribune Nasdaq: A Year Ago Market Hit Peak Saturday, March 10, 2001 CENTERPIECE Oh Baby! Austin Powers Would Love Mini @ Continued from B-4 BMW targets tiny car at hip, young people who like to drive something that gets attention adive. KNIGHT RIDDER NEWSSERVICE 213.63 to 10,644.62. The broader Standard & Poor’s 500 index dived 31.32 to American buyers who intend to be the first on their blocks to buy a MiniCooper,the new version ofthe legendary and aptly named small car. And like the other recent fad cars — the Volkswagen New Beetle and the Chrysler PT Cruiser — BMW intends to leave no marketing stone unturned before the Mini’s arrival. In the next year, expect to get caught up in a hype that will reach its peak in March curity Investor Services. “It drove a lot of what went on in dot-com land. People let their greed override their ans© canning we already knowa lot about a car that won’t be available for many months. First, it’s small. It’s 11 feet 10 inches long, 6 feet 3 inches wide and feet 7 inches tall. That means it’s nearly a foot shorter than the Mazda Miata roadster and not as tall as the tiny Chevrolet Metro sedan. Still, officials note, the new Mini is much larger — 18 inches longer and 14 inches wider — than the original version. It will be sold, atfirst, as a two-door, fourpassenger hatchback. Variants are expected to follow. U.S. buyers will be offered two versions ofthe new car: the Mini Cooper with its 115 horsepower,1.6-liter four-cylinder engine or the Mini Cooper S with a 160-horsepower, supercharged version of that motor. (European buyers will get a chance to buy third version, an entry-level model dubbed Mini One, with a 90horsepower gasoline engine.) The car will get an average 35 mpg and have anelectronically limited top speed of125 mph.It pression of herd thinking, brokers say. When everyone was making money, nobody wanted to listen to naysayers. Today, with sentiment running the other way, spooked investors are sitting on a $2 trillion mountain of cash thatlast year would have beenin stocks. “Are clients throwing in the towel and getting out of the market? The answeris no, but what we've got in the market right now is a crisis of confidence,” Jolley said. The carnage has hurt Utah companies, too. Since the beginning of this year, several technology firms have announced layoffs and restructuring plans. Business models, which appeared sure bets a year ago, are being thrown outin favor of strategies with greater profit potential. In some quarters, profits Albertson’s Finds Buyer For SLC Tower @ Continued from B-4 negotiations continue, although Albertson’s has declined to identify who mightlease space. The Salt Lake Organizing Committee (SLOC) has been leasing sevenfloors in the tower since last spring,butwill leave after the 2002 aren't enough to overcomein- vestor pessimism. After three years of losses, Daw Technolo- will come well-equipped with six air bags, a CD sound system and either leather or leatherette upholstery. Options will include those not normally found in a car of this price, including a navigation system, a stability-control system, Xenon headlights and a Steptronic automatic transmission. Prices for the new Mini Cooperare expected to start at $18,000. The Cooper S will be priced from $20,000. BMW is billing thecar as a “small premium, sporty car.” It says it will sell about SOS seme Re Se eesNUS. annually. eameres 6 teas eK: said Rich Steinee a Cruiser paved the way for ‘thearrival of the Mini. But, he said recently in San Francisco, “the Miniis authentic.” By that, he said, he means that the car byits very size,styleand marketing buzz will createa “dramatic lifestyle statement.” Its owners will be hip, young, stylish. Well, at least some of its owners will, and those seem to be theones who will feel thebrunt of the advertising message. BMW describes them as being 20- to 34-year-old extroverts who “Tike standing outin a crowd and driving a car that people notice.” The German automaker acknowledges that who represented Thomas in the deal thatfell through. “It would make somesense that the buyer wouldbe likely to agree to one price if there were a major tenant in the building,” Freeman said, adding that the price probably would go down if Albertson’s does notfind more tenants. In the meantime, the tower's presence has cast a shadow on downtown development. by increasing the commercial vacancy rate and potentially scaring off businesses. With the Olympics less than a year away,the city has begun an initiativeto revitalize Main Street and get more retailers to come downtown. A Chicago-area firm, Hamilton Partners LLP, wants to build its own 20-story office tower across the street, but until the tower is sold orits space is leased, Hamilton lastfall to sell the building to Thomas Real Estate Advisors of San Kevin Blair said. get loan approval to complete the deal. It would be easier to sell the aware ofthelatest possible sale of the building. But he would cer- cents from the previousday. ae The Associated Press contributed to this story. building ifmore space were leased, said Randy Freeman,a Salt Lake City commercial real estate agent tainlylike to see the deal close. “That would be good news,” Andersonsaid. otherwise has been largely vacant since Albertson’s boughtit. Albertson’s signed a contract has not been reat,” controller Francisco, but Thomas could not On Friday, Daw’'s stock closed at 59 cents a share, up 3 ASchar bobs BDAW haw tabs na oaks months to prepare America for the Mini? Not much, said Jim Hossack, an analyst with AutoPacific, an ai i and probably will notbegin its project. Mayor Rocky Anderson wasnot “It'sa greatlittle car,” he said. “They've gota farms in 2000 was 96,000 head, interested. Buta few buyers are very interest- 4,000 more than the previous ed,” he said. oe tional Auto Showin Detroit, the Mini exhibit was a anion nightclub and video-game parlor. Or may! Jobless Rate Stays Stable In Utah @ Continued from B-4 percent growth rate: Wholesale trade, the second-largest sector, produced 3,700 jobs during that period,a 1.5 percent Utah’s manufacturing industry may be coming out ofthe the ahem it entered in 1999. created about500jobs the eat year —a growth rate of four-tenths of 1 percent, Workforce Services reported. Nationally, manufacturing lost 19 percentof its jobs the past 12 months, As the nation’s economy showed signs of slowing in recent months, the Federal Reserve lowered interest rates twice in January, totaling a full percentage point. Many analysts believe the Po alla rato ae the a its next meeting M: Economists said Friday’'sreport shows the economy is not in a free-fall. oe.'s nothing here that recession,” said Bi Cheney, chief economist at John Hancock. ipany’s capital, profitability, quality of investments, liquidity and stability, Q Free tax-filing help from the people with low or moderate incomes. Call 250-0924 for information, The Associated Press also contributed to this story. 5 MoreDs Choose any sofa, loveseat, sectional or chair and get 40% OF onything in our Superior Leather”Vienna Classic. 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Still, its shares are down 83 percent since their 52-week peak on March13, 2000. “Our increase in profitability, the market reaction to that Winter Olympics. The building forthcoming lineofcars that willbe smallerand E BY MATT NAUMAN meted more than 200 points. The Dow ended a five-day winning 5 More Days...Saturday through Wednesday, Get 40*Off All Vienna Classic Leathers! See store for detoils. Must be @ Vienne Classic leother to save 40%, a ras CORT ROLE MODEL 799 E, 6600 South as 263-1698 its 0kva 104 Coad lars LEATHER CENTER Nout In Leather Seating! aie) enter) No AMERICA'S NO. 1 MANUFACTURER/ RETAILER OF LEATHER SEATING! visit our website at www.leathercenter.om 1 IN NATIONWIDE CUSTOMER SERVICE You Can Sleep On Jaclyn T.Lalli is an outstanding person, not only at Guardian, butalsoin thelife insurance field at large. We are proud of her accomplishments. Beautiful bedroom setin Natural Beech She qualified for the 2000 MDRT. 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