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Show SPENDY SEPTEMBER: Shoppers hit the malls and discountstores, boosting retail sales abovepredictions. E8 as j BUSINESS 1 4 FRIDAY Ocronen 10, 2003 inside Your Money E2 Ulah Business £2 Stocks 23 Busiriess Glance £4 eo WWW SLTHIB.COM Utah does well on Inc. hi YESTERDAY'S MARKET Indicators It’s No. 1 percapita in fast-growingprivate firms By Lestuy Mircuein TheSalt Lake Tribune "CLOSE: 5,886.89 CLOSE: 1,038.73 Thirteen Utah companies made Inc, magazine’s list of the 600 fastest-growing private U.S. companies, a number higher than any other state on a per capita basis, the magazine reported Thursday. Those 13 companies work out to a rate of 5.7 per 1 million residents, said Ryan Clancy, spokesmanfor the magazine that unvetled the list this week in a special issue. The ProvoOrem area has six companies on the list, which works out to a rate of 18.4 per 1 million residents, making it the metropolitan area with the highest numbers of Inc. 500 companies on a per capita basis. Utah had four com panies on the list last year and 11 in 2001, What makes Utah such a hot spot for growing companies? /nc. notes a fertile entre- preneurial environment, a young population ANALYSIS Utah companies on the Inc. 500 Overall rank. COBEN Location industry category and a number of universities that spawn new 18. A ite Reswarch =| Sandy | aah ventures, 16, United Underwriters Another factor in Utah's high ranking could be an increase in the number of venture capital companics investing in young companies in the state, Provo | Insurance | 6.100% | $60.1 Insurarice a IkanCommunications | | HhToch 141. Stake Center Locating | Real Estate | SLO “We had twoventure firms located in Utah 4g, Satetiome Securty in June of 2000 and we have more than one dozen today,” said Brad Bertoch, president of 163. Myfamily.com Provo Software WoltElectronix Orem | Electonics Orem Leisure Wayne BrownInstitute, a nonprofit that aims 14. to help technology businesses raise capital. “In fact, venture capital investment has helped some companies grow that otherwise could have stalled out or gone away.” 479, 18 i 732. At No. 15, 4Life Research of Sandy is the 4g, Career Step highest-ranked Utah company on the list, which compares companies based on their sales growth over five years. The company reported sales grew by 6,106 percent to $59.1 million from 1998 to 2002. The company See INC. 500, 1:5 406. | ATA Services 466. | tite Exteriors | Café Rio Omniture — Bnd 5.657% | aam | $28 Provo | Secury 1,126% $49 1026% $479 | 100% | $195 | 1.000% | $145 | 961% | Orem | High-Tech Back to Basics Products| Bluffdale $24 $13.6 | soem | $96 Consumer Products 738% $60 | 60% | $28 438% $3.5 | sandy | Consumer Products | 951% | $69 | Springville! Education SLC Maintenance “numbers in millions The Salt Lake Tritnmne Souree: Ine. Mageetine Poweredby 4 streak of upbeat earnings and economic news, Wall Street surged higher Thursday, completing a remarkable year that saw the major indexes make a stunning rebound from the depths of the three-year-long bear market, AIR APPAR EBay laptop fraud case widens EBaycloses at highest mark since era of Internet mania B2 z Shares of EBay closed at their high est level since the record set during the height of the Internet bubble, boosted by investors clamoring to own one of the few profitable online companies to survive that mania, The Web auctioneer’s shares rose $1.78 to closeat $60.25 Thursday on the Nasdaq Stock Market, just below the $60.94 closing high set on March 2A, 2000. The San Jose, Calif.-based company's stock has more than doubled in the past year, pushing its market value to $38.6 billion, more than Nike and AT&T New indictment: Utah man faces 52 additional counts By Bos Mims The Sait Lake Trifnine Corp. combined, In what prosecutors say is the nation’s marquee cyberfraud case a federal grandjury has handed up a new indictment against a Utah man for allegedly bilking hun dreds of would-be eBay laptop computer buyers. Investors are snapping up shares of Internet companies as concern about retailer Amazon.com’s survival dissipated and Yahoo!, the operator of the most-popular group of Web sites, accelerated its sales growth. Sales at eBay, which operates a customer service cen- The S4-count superceding in ter in Utah, have climbed 92 percent in the first half of 2003 to $986.8 million, while profits shot up a similar percentage to $196 million. Bloomberg News ‘nforcers support Qwest Qwest Communications Internation- al, the fourth-largest U.S. localtelephone company, won antitrust enforcers’ support to sell long-distance service in Arizona, the last state where it lacks permission. Under Federal Communications Commission rules, Qwest and other regional phone companies formed in the 1994 breakupof AT&T Corp., must provetheir local networks are open to rivals before being cleared to sell long: distancein states where they dominate local calling As. Harman /The Salt Lake Tritnine Salt Lake City’s James Oyler catches big air at Alta which along with Snowbird was rated Mo. 2 by Skiing magazine for snow quality. Powderplay: Alta, Snowbird top U.S.resorts Department review the local carriers’ long-distance applications and advise regulators on whether the companies have sufficiently opened their local networks to competitors. Bloomberg News Marriott earningsdip in 3Q Marriott International's earnings fell 10 percent in the third quarter, but the hotel operator said Thursday that a recoveryfrom a travel slump appears to be starting Marriott reported earnings of $92 million, or 37 cents per share, for the quarter ending Sept. 12, down from $103 million, or 41 cents per share, a year earlier The company said much of the drop was the result of a securities sale during the third quarter of 2002, which boosted earnings $12 million, or 5 cents per share, in that quarter Marriott had $2.1 billion in revenue for the quarter, up from the $1.9 billion in the 2002 third quarter The company raised its earnings outlook for the fourth quarter to between 60and §2 cents per share. The Associated Press CORRECTION Medford, Ore.-based Hire Calling will pay $3.5 million for SOS Staffing after-hours By Mike Gorrent Antitrust attorneys from the Justice The Salt Lake Tribune Alta and Snowbird are still the best places in the United States for aficionados of “the steep and the deep” to ski or snowboard. For the second year in a row, the Little Cottonwood Canyon resorts were the top American resort and the second best in North America in a ranking by Skiing magazine. Only huge Whistler/Blackcomb resort in British Columbia was rated higher by Skiing, whose audience tends to be younger skiers and snowboarders who care more about snow quality and challenging terrain than dining and rings especially true here. It really is the best snow on Earth.” That praise delighted Snowbird and Alta officials who were disheartened a month ago by the weak showings of their resorts in rankings by Skiing magazine's sister publication, Ski, whose readers generally are older people as interested in plush See ALTA, SHOWBIND, £6 Russell Dana Smith, also known as John P. Leary, had pleaded innocent to the Social S« curity allegations during a June Where Utah resorts rank arraignment in U.S. District Court. Those counts carried maxi mum penalties, upon convictior of up to 5 years in prison; the newly added counts carry maximum penalties ranging from five to 20 years and fines of $250,000 to $1 million 1. Whistier/Blackcomb, B.C 2. Alta/Snowbird 3. Jackson Hole, Wyo. 4, Vail, Colo. 5. Squaw Valley, Calif. 6. Mammoth, Calif The charges stem froma joint 7. Big Sky, Mont 8. Aspen, Colo investigation by the FBI, the In ternal Revenue Service, Salt Lake 9. Fernie, B.C City and South Salt Lake police 16. Telluride, Colo the Salt Lake County Sheriff's Of fice and the Utah Cybercrime Tas} Force into alleged auction fraud discovered on the eBay online auction site 14, Park City 18. Snowbasin ~The Salt Lake Tribnine See EBAY, kG Is shuttered Kmart a sign ofJunction dysfunction? comments from adjoining busi nesses that it looks unkempt,” By Canistorner SMART The Salt Lake Trilmine said Summit County CommisKIMBALL JUNCTION The sioner Shauna Kerr. weeds are growing taller around Home Depot and, more re- what used to be Kmart, making this area's first big-box retail outlet look isolated and forlorn, even as construction booms nearby. It has been more than a year since Kmart folded up shop in Snyderville Basin, just north of Park City, after a decade of business. In the past year, various cently Target, have considered the space. But in today’s market of superstores, the space may be too small for the huge discount chains “| don’t know that talks |with Target] have broken off entirely,” said Kerr. “But they don’t seem to proposais have been thrown about including turning the WNO-squarefoot space into a $25 million in outstanding debt and pick up $11.3 million in workers com- skating rink borne fruit, pensation insurance obligations. A story in Thursday's Business section did not inclode all terms of the deal. So the expansive parking ict sits empty, ringed by lardiscaping When an anchor closes and its location stays shuttered, the pulse of a strip mall becomes weaker that's gone to seed. “We've had See KMART 15 but none have The shuttered Kmart at Kimba!! be going anywhere.” The building that's too big to be quaint and perhaps too small to be a big box “finds itself at an awk Services’ outstanding shares. It also will acquire the Utah company’s COP enter: tainment. “Whistler Blackcomb is bigger, but Alta and Snowbird have far better snow,” observed Skiing writer Steve Casimiro. “The snow’s the thing in Little Cottonwood Canyon, and the Utah license plate slogan dictment adds 40 counts of mail fraud, eight counts of wire fraud three counts credit union fraud and one count of failure to file a tax return to twoearlier counts of us ing a false Social Security number to set up bank accounts “This case is the biggest do mestic Internet fraud case in the country,” U.S. Attorney’s Office spokeswoman Melodie Rydaich said Thursday. “This is something wetake very seriously. People bi something on eBay auctions and pay for it, and as the indictment alleges, it was never delivered.” ward age,” said Kerr ere At. Maser anne /The Salt Lake Tribene Junction, foreground, makes for an awkward contrast with a hew round of construttion in the background |
