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Show The Salt Lake Tribune reach a 32-year low ce UTAH BRIEFS PAGE C-7 FRIDAY fusling another C8 CONSUMER CORNER BUSINESSGLANCE aes i C-10 a SEPTEMBER 6, 2002 lj round ofrefinancing. PAGE C-8 State Export Gain Bucks Trend YESTERDAY'S Diversification,stability “Some states, such as California and Texas, have accountfor Utah’s success Mexico as their top export market, and that couny’s economyisn’t doing very well,” McLaren said Mexicois Utah’s seventh-largest export market, which gives the state some level of protection BYLESLLEY MITCHELL THESALT LAKE TRIBUNE against the country’s economic struggles and sub- Utah was one of only two Western states with rising exports last year, according to a new report. The value of Utah’s exports climbed nearly 9 ports rose last yearis the wide variety of exporters in the state. Thatdiversification helps the state's international shipments remain stable even when one or Gtah Exports Climb The value of products shipped by Utah companies last year rose 8.9 percentto $3.5 bilfion, the highest increase of all Western states. Most reported decreases in the value of exports of 4 percent to 41 percent sequent decline in imports, she said. State trade experts say another reason Utah's ex: percent to about $3.5billion, followed by Washington, where exports were up 8.4 percent to nearly $35billion. ‘The value of international shipments in each of eight other Western states decreased between 4 percent and 4] percent from 2000, according to the Western Blue Chip Economic Forecast published by Arizona State University’s College of Business. Nationally, exports declined by about 6 percent to about$721billion. Utah and Washington had export growth last year because those states export primarily to countries with stable economies, ASU economic analyst Dawn McLaren said. Utah’s top markets, for example, were Switzerland, Canada, the United Kingdom, Japan and the Netherlands. two industries are struggling and their exports di cline, said Franz Kolb, director of Europe for the state’s International Business DevelopmentOffice. “Utah's economyis moreinternationalized than the economies ofmany otherstates,”he said. “That is a big advantage.” Utah's exports, however, make up only about 0.5 percent of the value of the nation’s exports, according to the report. That's slightly higher than Idaho, Nevada and New Mexico but lower than California, Texas, Washington, Arizona and Colorado. The top product exported from Utah is gold. Other top exported products are motor vehicle parts, aircraft parts and coal. 2001 cee in Location millions | doe of from total U.S 2000 exports | Azone[si2sia|| 127% 17% California Colorado | idaho Nevada New Mexico | —-——_ —; Washington Total U.S. lesleyasltrib.com ANALYSIS A spate of bad news about the economy, including stuggish productivity growth and disappointing retail sales, hit Wall Street hard Thursday and sent stocks falling sharply. Residents Fight to Keep Out Wal-Mart MAKING THE GRADE Delta Joins in Charging Miss-Your-Flight Fee Delta Air Lines Inc. joined rivals ‘Thursdayin trying to stem losses by charging customers with nonrefund- able fares $100 to take another flight on standby the same day and making the tickets worthlessif a flight is missed. Majorcarriers including AMR Corp.'s AmericanAirlines, US Air- Sandyresists influx of big-box developers ways GroupInc. and Continental Airlines Inc. added the fee recently and adopted the “use it or lose it” policy on the cheaper, nonrefundable fares, Delta, which operates its thirdlargest hub at Salt Lake City Interna- BY KARYN HSIAO tional Airport, also followed competi- THE SALTLAKE TRIBUNE, tors in saying it will raise a paper- The nation’s largest big-box retailer is running into morethan a lit- ticket fee to $20 from $10, “I don't like the ideas of these fees, tle trouble building a new store in byt I understand whatthey're trying to do,” said David Stempler, presidentof the Air Travelers Association consumer-advocacy group. “It may be counterproductive.I don’t know the answerto that, but the marketplace will sort that out.” US.airlines are trying to boost revenue and cutcosts after losing a record $7.3 billion last year and more than $3.8 billion in this year’sfirst half. The Sept.11 terrorist attacks and lower corporate travel spending reduced demand and led to lower fares amid increased price competi- tion. Paul Fraughton/The Salt Lake Tribune The moguls competition was among the events held at Deer Valley during the 2002 Winter Games. Some speculated that the Olympics may have kept skiers away, lowering yes votes from Ski magazine readers. Deer Valley Slips to No. 2 in Ski Poll | Vail returns to top spot; Utah gets thumbs up for snow,but lack of nightlife hurts BY MIKE GORRELL Intel Revenues Off not provide earnings estimates. Analysts expect the Santa Clara, Calif.-based company, which employs about 550 in Utah,to post thirdquarter profits of 13 cents per share on sales of $6.9 billion, according to a survey by Thomson First Call. It is the latest sign the hoped-for recovery in spending during the second half of the year hasn't materialized. Both corporations and consumers, who usually spend more during -to-school PCs, Albertsons Makes Profit Albertsons Inc., the nation's second-largest grocery re ported a profit of $253 million in the second qua. vx in contrast to a loss a paign multibillion-dollar acquisition of Salt Lake City-based American Stores minimized the impact of a depressed economy, ‘The Boise-based company with nearly 50 stores in Utah on Thursday reported per-share earnings of 62 cents for the three months ended Aug. | in contrast to a loss of $15) million, or 37 cents a share, a year ago, Its income from continuing operations First Revenue fell to $2.9 billion from more than $9.2 billion a year earlier. | “Shain tr Deer Valley’s reign as Ski maga- zine’s top-rated resort in North America was limited to one season. Vail reclaimed the No.1 spot, a position it has held for 11 of the 15 years that Ski has conducted its reader poll of60 North American resorts. Deer Valley slipped to No.2. Park City Mountain Resort also cracked the Top 10 in seventh place, while The Canyons was 18th, Snow: pe 2th, Alta 27th and Solitude “No. I was the biggest honorand something we always want to strive for, but we’re honored to be rated No.2.” CHRISTA GRAFF Deer Valley spokeswoman Ski’s poll respondents away from the resort, contributing to thefluc. tuation. Ditrenco agreed. “I suspect Deer Valley got a bounce [up] last year with all the Olympic attention,” he said, “and there might be some Olympic hang: over that they're experiencing here.” Ski’s tabulation was based on surveys sent to more than 20,000 readers, seeking their observations on resorts visited in the past three years. Resorts were judgedin 17 cat October issue, was taken in stride by with smail amenities and stores, and a Wal-Mart is not what this commu nity is all about,” Goldberg said. So she and her neighbors joined an increasing number of grass-roots groups fighting big-box developments in their towns. “When we found out in July that Wal winter may have kept a number of THESBALT LAKETRIBU! NE Citing soft demand for computer processors by consumers and businesses, Intel Corp. said Thursday that third-quartersales will be within previous forecasts butat the lower end of the range. The chip-making giantsaid it expects revenueto be between $6.3 billion and $6.7billion. Last month,it said sales would range from $6.3billion to $6.9 billion. The companydid Sandy. Tracy Goldberg and manyof her neighbors havesized up their community and decided that a 142,000-squarefoot Wal-Mart just would notfit. “Our area is largely residential egories, including snow, grooming, terrain, lifts, on-mountain food, SAVE 'N’ EAT Discounters are adding Mart was coming to our food courts for customneighborhood, &S to grab a bite C8 I decided to do whatever I had to do to prevent it from happening,” said Goldberg, an at-home mother spearheading the battle against a Wal. Mart proposed for the southwest corner of 9400 South and Highland Drive. Whetherthestore indeed will be built may dependlargelyonif the developer can pull it off on 10 acres of availableland Magna Investment asked the SandyCity Council to rezone 4 acres of nearby high-density residential at wouldn't use the wordslip,” Ski executive editor Greg Ditrinco said of Deer Valley’s rating. “Emotion- Graff. “No. 1 was the biggest honor and ally there's a big difference between something we always want to strive Alta finishedfirst for snow, but one and two,butstatistically there's not that much. With Vail above it and Whistler/Biackcomb [British for, but we're honored to berated its overall ranking suffered from the “Wearein the processof looking at the options, but we haven't reached a Columbia] behind, that’s a world- effort. It just makes us work harder lack of a terrain park. It also placed near the bottom for family class ape right there.” to get that No. 1 rating again.” She suggested that Deer Valley's status as an Olympic venue last conclusion” about whether the store will fit on 10. acres, architect TimSoffe said. Wal-Mart Community Affairs The newest ranking, which will be published in the magazine's Deer Valley spokeswoman Christa No. 2,” she said. “It hasn't changed the feel at our resort, the marketing after-ski nightlife, family programs, sceneryandterrain parks. resort's ban on snowboarding and programs. landsothelot could be expanded to14 acres. But the council asked archi. tects to contain thestore to 10 acres. Retailers Don’t Get Boost From Back-to-School Season BY ANNE D'INNOCENZIO THE ASSOC ATED PRESS which are considered largely recession-proof, posted results below Wall Street ions, “Consumers are shopping only on need, and they are being rewarded by waiting,” said Richard Jaffe, an analyst at UBS Warburg Securities. Jaffe added that cool weather earlier in August hurt apparelsales. When shoppers have opened their wallets, it has been to answer the lure of automakers’ generous incentives. “Consumers are still out there. They're buying cars, but they are staying clear away department stores and general merchan- dise stores,” said Michael Niemira, vice president of Bank of TokyoMitsubishi Lad., hoting a surge in See WAL-MART,Page C-11 See TOP VENUES,Paye C-11 spending on autos in August, fueled by a slew of no- interest financing and rebates. The Bank of TokyoMitsubishi Ltd.'s same-store sales survey of 76 chain stores was up 1.6 percent, in Thedisappointing results came as the Labor Depart mentissued reports that un. Here is a look at the percent change in major retailers’ sales from the paintilene ation derscored a sluggish eco WalMart Stores inc, 3.8% @ ductivity of U.S. companies THX 20% @ nomicclimate. The government said pro iner at its slowest pace in a year during the second SP C ylitencdt ishact The kb line with Niemira’s reduced projections. Niemira had quarter as the nation’s re Target Comp, projected a 2.5 percent gain covery stalled. Gi earlier last month. That compares with a 3.6 percent increase a year ago. The Labor Department reported Thursday that pro. ductivity the amount of output per hour of work Same-store sales, consid ered the best indicator of a rose at an annual rate of 1.5 retailer’s health, measure’ percent in the AprilJune race according to revised revenues at stores opened at least a year, While that was a better Department stores’ same store sales fell 4.8 percentin showing thanthe 1,1 percent August, the worst monthly rate estimated a month ago, performance since the 68 it marked a slowdown from percent decline recorded in the brisk 8.6 percent growth = 201, Niemira rate posted in the first sa quarter. \ dell Limited 2 am Dillards gate ing ee 1% g ms © 30% | 1% 8 Faderiied Deparment say, gy Stores inc. yay Degatnert om Sears, 1.4% Po#buck and Co. 8 > WOTE: Sates include those trom mores open ot inast a year (ayMighty year and not ai rotahors the Avene tnd Prewe |