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Show _DUSINE IB : Dailys Herald THURSDAY, FEBRUARY 23, 2006 BUSINESS EDITOR | Grace Leong - 344-2910 - gleong@heraldextra.com 3 Local Industry _ NEWS & NOTES. A A A Dow Jones} Nasdaq S&P 500 Final 11,137.17 Final 2,283.17 +68,11 Real Estate SLC call center expansion in Draper completed — O’Currance Teleservices,a Salt Lake City providerof inbound telemarketing products'andservices, completed the expansionofits secondcall center in Draper. To manageits growth, O’Currance added 6,000 squarefeet to its now 14,000-square-foot call center. The companyalsobuilt an additional 115 employee agentstations, five managementstations,five executive offices and three training rooms andis currently in the process of implementing a 24-hour security system. “Nowwith our two newly renovatedfacilities in Draper and Salt Lake, O’Currancehas accesstoa total of 350 on-site employee stations to support our continued client and employee growth,” said Blake Rigby, president of O’Currance, Kohl's opens new Washington store — Kohl's Department Stores, a Menomonee Falls, Wis.-based chain with a store in American Fork,will openits seventh Utah store in Washington on March 2. The new Kohl'sstore, at 650 W.Telegraph,will create 150 jobs. Kohl's postedsalesof $13.4 billion in 2005. Thenewstorealso will be extendingits hours on March 2-4 from 8 a.m. through 11 p.m. and on March.5 from 10 a.m. through 10 p.m. From March6-9,the store will open from 8 a.m, through10 p.m. and on March11,from 7 a.m. through 10 p.m. ConsumerPrices Costofliving along Wasatch Front up on gasoline prices — Consumer prices along the Wasatch Front edged higherin January for a second straight monthas higher gasolineprices offset lower prices of food and clothing, a Wells Fargo report said Wednesday. “In December,cost gains for transportation more than outweighed declines for food at home and clothing. However,the local annual six-month percentage change remainedstable,” said Kelly Matthews,executive vice president and economist for Wells Fargo. “While wewill continue to carefully monitor inflationary pressures, wedo not expect any significant changes in 2006. Nevertheless, energy prices will remain a keyindicator of any future price movements.” Locally, transportation costs rose 4.1 percent in January, while grocery expenses dropped 0.9 percent, reversing four straight months ofpriceincreases. Health care costs gained 0.03 percentin January-on higher non-prescription medicineprices, while clothing costsfell 2.2 percent in January on lowerprice tags for men’s wear. Wells Fargo's costofliving index for the Wasatch Front showed a nonseasonally adjustedrise of 0.5 percent in January. Nation“ally, the Labor Department reported a 0.7 percentrise in consumer prices in January. NATIONAL BRIEFING Limited evidence exchangeallowed in Qwest case DENVER — judge agreed Wednesdaytoallow limited evidence exchangein a fraud case against former Qwest executives, seeking to advance the SEC’scivil lawsuit while protecting the rights of ex-Qwest chief Joe Nacchiowho also is facing criminal” charges. US. Magistrate Judge Craig Shaffer said he wanted the process to get under waybecausethe lawsuit wasfiled nearly a year ago based on eventsthat occurred largely in 2000 and 2001. He said he was fearful witness memorieswill fade even more. Shaffer andattorneysinthe case aretryingto resolve conflicting issues be: weenthecivil lawsuit and a criminalcasethat accuses Nacchio of 42 countsofinsider tradingtied to his sale of $101 million in stock. Nacchio has pleaded not guilty. Consumerprices gallop ahead in January WASHINGTON — Consumerprices galloped ahead in January at the fastest pace in four months,especially pinching the wallets of motorists and other energy users. Thelatest picture of the nation’s pricing climate, released by the Labor Department on Wednesday, reinforced expectations that Federal Reserve Chairman Ben Bernanke andhis colleagueswill boostinterestrates in the months aheadtobluntinflation. The government's most closely watched inflation barometer, the ConsumerPrice Index, advanced by 0.7 percent, compared with a0.1 percent dip in December. The seesaw pattern mostly reflects gyrating energy prices. “Consumerscontinueto be battered byrising costs,” said Joel Naroff, president of Naroff Economic Advisers.“It's tough out there for most households.” STOCKS OF LOCAL INTERES Yesterday's performance of selected publicly traded companies SYM COMPANY LAST CHANGE SYM COMPANY LAST CHANGE AA ALCOAINC 3030 +010 MSFT Microsoft Corporation 26.72, +0.18 ABS ALBERTSONS INC 2548 +003 MU MICRONTECHNOLOGY 1631 +023 ‘ABX —_BARRICK GOLDCP 2894 +024 | MYGN Myriad Genetics, In 2405 4015 AEP AMERELECTRICPOWCO 36.43 +027 | NATRE Nature's Sunshine Products 1707 +032 ‘NG AMERINTLGROUPINC 67.91 40.65 NETM NetManage, inc 545 +001 AMD ADV MICRODEVICES 40.80 +0.75. NOVL Novell, inc 940 +019 AMGN Amgen inc 75.08 +055 NUS, NUSKINENTINC 1798. +043 BAC BK OF AMERICA CP 4508 +053 NWN NORTHWESTNATGAS 3413 -0.16 BL -BALLCP 4294 +059 PCG PGRECP 37.99 +025 BLS BELLSOUTH CP 31.86 +006 PFE PFIZERINC 26.19 +055 BN» BANTACORP 49.45 +020 Q QWESTCOMMINTLINC 629 +002 © CMGROUPINC 4688 +071 ROPRF ROYALDUTCHPETSWIS 65.745 0.00 (BAG CRESTED CORP 266 +003 SCOX $COGroup, Inc (The) 430 +007 CMCSK Comcast Corporation «26.47 +029 SHLD ings Corporation 119.76 -0.55 (VX CHEVRON CORP 57.24 066 Sl SMITHINTLINC 39.22 136 DIS. WALTDISNEY.DISNEYC 27.46 +030 SKYW Skyiest Inc. 2905 026 DNEX Dionex Corporation $5.03 0.03 SNTO’ Sento Corporation 830, +0.15 ERICY LMEricsson Telephone «34.99 +036 SPI SCOTTISH PWR ADS 41.19 +096 EIR —-ENTERGY CP 7275 +123 STA STPAULTRAVELERSCO 4305. +028 FC FRANKLIN COVEY CO 720 +009 STR QUESTARCP 7459 1.245, GOW GOLDENWESTFINCP 71.57 +232. SWFT Swift Transportation Co, Inc. 24.86 0.00 GE GENELECTRICCO 3364 +028 SY SYBASEINC 2126 +021 HCA HCAINC 4826 037 T . ATATING 2825 +010 HRB. HR BLOCKING 2550 +029 TGT TARGETCP 5460 +094 HSIC Henry Schein, In 4673 0.00 UOR UNITEDDOMINRLTYTR 27.05 4055, BM INTLBUSINESSMACH 81.35 +085 UNH UNITEDHEALTHGROUP 59.54 +1.37 INTC Intel Corporation 20148 0.472 USB US BANCORP 3079 +057 TBLU. JetBlue Airways Corporation 11.06 -0.10 USEG U.S. Energy Corp. 538 002 YP -PENNEYJCCOHOLDIN 57.78 +1.16 USNA USANAHealth Sciences inc. 42.51 +003 JWN NORDSTROM INC 40.27 +035 UTMD Utah Medical Products Inc. 32.98 +0.38 KRON Kronos Incorporated 4068 +025 V2 VERIZON COMMUN 3399 036 LEE LEE ENTERPRISES 3580 +096 WEN WENDYSINTLINC 5708 +017 LB LONGVIEWFIBRECO =—»«19.33 +038 WFC —WELLSFARGO&CONEW 6439 +088 LU LUCENTTECHINC 285 +006 WMT WALMARTSTORES 4548 026 LUV SOUTHWEST AVRUNES 16.83 -+0.14 WNI SCHIFF NUTRITINTL 520 +030 CK MCKESSON CORP 5375 +016 X UNITEDSTATESSTEEL | 55.79 +046 MER MLCOCMNSTK 7695 +097 XEL XCELENERGYINC 19.17 +020 MiTY—MITY Enterprises Inc 1885 0.00 210N Zions Bancorporation 8309 42.13 MMSI Merit Medical Systems, In. 14.62 +0.20 +20.21 ~ A Final 1,292.67 +9.63 Gold Silver Per ounce $553.90 Per ounce $9.567 no change +0.031 3 exQuaNcING os Yen) 183 tv8, ure Ee dollar Mei dcan peso 1 alae 2 ae . 10.4450 10.4830 BYU business center renamed Marriott School’s Global Man ‘ement Center named after former Kodak CEO Grace Leong DAILY HERALD BYUMarriott School's Global Management.Centeris getting a new name. On Wednesday,the international business and business languageresearch center was renamed the Kay & Yvonne Whitmore Global Management Center, after former CEO Kay Whitmore of Eastman Kodak Co. Thelate Whitmore, who served at Kodak for 36 years and led the companyfor three, was knownforhis business acumenandintegrity, according to Ned Hill, dean of the Marriott School. Whitmore, who is survivedbyhis wife, Yvonne,died from complications from leukemiain 2004 at age 72. “The Whitmoresare long- time supporters of Marriott School and membersofits national advisory council,” said Joseph Ogden,the school’s spokesman,“And they've been very interested in our students and worked with them here and in California.” “The Whitmoresare recognized as outstandingethical, global leaders,” said Brooke. Derr,its director. “Our goal at the Marriott Schoolis to develop similar leadership qualities in ourstudents.” Whitmore's lay assignments within The Church of Jesus Christ of Latter-day Saints included being Syesident of the London South Mission,stake presidentin the RochesterPalmyra stakeas well as an 18-month mission to San Diego, where he and Yvonne worked with college students. BYU's Global Management the center's managing director. Seventy-six languagesare spoken on campus andnearly 80 percent of BYU students are bilingual. “It’s important for students to learn aboutinternational business from a knowledgeable professor. Wealso help students become moreinternationally oriented by sponsor- ing global consulting projects, lectures, and student competi- Kay and Yvonne Whitmore Center has 2,000 students annually taking its sponsored business languagecourses in 11 languagesandinternational business courses. “Manystudents know how to speak a secondor third languagefluently, but often lack strongskills in foreign corporate culture and vocabu- lary,” said Cynthia Halliday, tions,” shesaid. The Global Management Center,one of the nation’s 30 Centersfor International Business Education and Research, helps prepare students with the skills to competein a global marketplace, Derrsaid. Other Marriott Schoolresearch centersinclude the Kevin and DebraRollins Center for e-Business, which focusés on how technologyis changing business,as well as the Center for EconomicSelf-Reliance and the Center for Entrepreneur‘ship. World Bank goes global with cratts Yian Q. Mui THE WASHINGTON POST he World Bank is planning to opena store this spring that will sell crafts from developing countries to help promote socially responsible trade — and help byrnishits image in responseto crit- balization must be bad for poorpeople,” Rosensaid. “Wewantto show that eon haveto be the case,” said. The bank'scritics say the agency too often hurts the poorin devel- ics who say the agency does exactly the opposite. Thestore, Pangea Artisan Market and Cafe,is to be in the downtown Washirigton headquarters ofInternational Finance Corp., the branch of the World Bank thatis overseeing the project. It will sell a range of handmade merchandise such as banana-leaf handbags from Indonesia andsilk pillowcases from Cambodia. The small businesses whoseproducts are to be sold will be required to adhereto ethical practices, such as prohibiting child labor,and to submit to yearly inspections by the IFC,said Harold Rosen,directorof the project and the IFC's Grassroots Business Initiative. The store f plans to hold workshops on emerging markets and global economicissues. The moveis thelatest in an ongoing effort by the bank to bolsterits reputation. The World Bank has becomea favorite target of protesters whocriticizeits free-marketpolicies and philosophyof globalization. Pangeais intendedto help dispel the notion that “everythingin glo- oping gountries by. insisting‘‘on painful austerity policies, such as eliminating government benefits and subsidies, in exchangefor loans. They complain the bank also demands that developing countries adoptpolicies that -benefit multinational companies rather than peoplein poverty. Rosensaid heplans to meet next month with several groups that have been critical of the World Bank’s policies,including anti-poverty group Oxfam International, to talk about the Pangeaproject. Pangeais an allusion to a moreconnected Earth, referring to the enormous land mass scientists theorize existed before continentssplit apart. The storeis finding merchandise through Novica, whichsells handmade global crafts and is affiliated with National Geographic and the nonprofit groupAidto Artisans. Suppliers must sign a commitment to produce goods without child labor or forced labor, unsafe and unhealthy working conditions,and serious environmental harm, amongother provisions. The IFC plans to monitortheir practices, help them make needed changes andinvest in the businesses, Rosensaid. eo Intemational Finance Corp, Woodenfigurines from a craft group in the WestAfritican nationof Burkhina Fasowill be sold at a World Bankstore, called Pangea Artisan Market andCaje. Ceeee . At the 3,800-square-foot Pangea store, displays will be designed to showcase not only the crafts but also the people who. makethem. For example,silk purses from Cambodia are sewn by women whohad been rescued from sexual slavery and often drug addiction by the Swiss nonprofit Hagar. Elephantgrass placemats come through a groupcalled Gone Rural that works with HIV-positive women in Swaziland whohavelittle or no access to medical care. The Superchango chocolate bars are made with a Polivian grain called canawa, grown by farmersin lieu of coca, a shrub used to makecocaine. Rosen said the main goalwill be to help countries develop infrastructure and businesses with long-term potential. Aleksandrs Rozens THE ASSOCIATED PRESS NEW YORK — A New York bankruptcy judge approved a Delta Air Lines Inc. severance packagefor directors and officers thatis part of a plan to savethe carrier $200 million annually. Theairline, whichfiled for bankruptcy protection in September, had asked for court approval to provide severance for as manyas 144 directors andofficers. Thecarrier does not expect to actually terminate 144 direc- , DAVID KOHL/ AssociatedPress tors andofficers, Dan Lewis, spokesman for Delta, told The Delta passengerjet lands at the Cincinnati-Northern Kentucky Associated Press. Hesaid the International Airport, Sept. 7, 2005 in Hebron, Ky. Delta will carrierlikely will cut 20 perlikely cut 20 percentofits directors andofficers, according to centofthat 144 total, costing DanLewis, spokesmanfor Delta. Delta $3 million in expenses related to seyerance payments. before meofthe need for the bankruptcy, said in granting “I don't believeI have any the carrier's request. choice but to grant the motion. severanceplan that has béen The pilots union,the Air Line The debtor has made a very proposed,” Judge Adlai HarPilots Association (ALPA), din, who is overseeing Delta's compelling showing on record Si) WWWHERALDEXTRA,COM2 CARL'52545103TO'SUBSCRIRE asked the court to reject the Atlanta-based company’s sever- anceproposalin light of Delta's requestfor pilot concessions. Anattorneyfor the pilots, Michael Winston,likened the plan to a “soft landing”for management, andsaid the carrier's managementshould have consulted the pilots union aboutit. Undertheplan,directors and officers would receivesix to 12 months of severancepay. Delta, though, argued the severance plan was meantto stem departuresofdirectors andofficers. Lewis told the APthatthe carrierhas lost six executives to other companies in January and February alone, includinga specialist involved with managingtheairline's restructuring efforts. Lewis said the cuts could begin as early as March,Ifall 144 employeeseligible were terminated under the program, the cost to Delta would be $14.2 million, the companyhas said. VB/MKL| |