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Show BUSINESS Local Industry NEWS & NOTES TUESDAY, APRIL 25, 2006 BUSINESS EDITOR | Grace Leong - 344-2910 - gleong@heraldextra.com Vv Vv rett | Dow Jones Final Nasdaq Final 500 _— 11,336.32 2,333.38 11.13 9.48 1,sort4 | x v _ ounce Silver Per ounce $620.60 $11.772 $11.60 | EXCHANGING THE DOLLAR -$1.193 Yen ee a3 ae Canadian dollar ‘1.1361 Mexican peso 11.0850 MER? ss 1.1374 17.0540 WalMart bid may boost banks Technology Four Utah County companiesselectedas finalists — Four Utah County companies were among21 finalists selected in the fourthannual 2006 Stoel Rives Utah Innovation awards. Seven winners — one from each of the categories — will be an- nounced at an awards luncheon on May17 at the Sheraton City Center. A committee of nearly 70 experts from private industry, governmentand higher educationselected the finalists, three in Retailerlikely to winits industrial loan company charter eachof the program's categories: Mechanical devices, medical devices, chemicals/materials science, computer hardware/electrical devices, biotechnology/pharmaceuticals and computersoftware. In the computer software category, AvintiInc., a Lindon e-mail Robert eee KNIGH PER: security software developer, miadethe list with its Avinti iSolation Server. ProPay USAInc., an Orem online paymentservice, was anotherfinalist in the same category. Brigham Young University was finalist in two categories, biotechnologyand computer. hardwareand electrical devices. In WASHINGTON — Industrial loan companies; the specialized Andin the process, the banks may shake up the way banking business is donein the United States by forcing lawmakers to consider granting ILCs the banksthat have experienced powerto compete head-on with hugeasset growthin the past - commercial lenders. Traditional lenders have the biotechnology category, BYUcreated cationic steroid antibi- twodecades, are poised to become a more-popular vehicle antiviral-activity in a person's immunesystem. In the computer hardware category, BYUinvented microphonesensorsthatelimi- lowingretailer Wal-Mart's application to own one, analysts otics, a new | DailysHerald into the banking business fol- ofantibiotics that mimic the antibacterial and believe. nates unwanted noise Toregister for the awards lunch and the Edison Showcase, visit www.utah.edw ees. from regulators.In the process,it seems to be laying the groundwork for a challenge to the U.S. banking system. Industrial loan companies werethrust into the spotlight by Wal-Mart's application to operate one in Utah to process fought Wal-Mart's application by arguing that the retailer and her companies shouldn't own banks. But the giantretailer ap- pearslikely to win its charter checking and other transac- tions. But they've existed since the 1900s, and have quietly grownintoa big industry unto themselves. ILCs’assets have grownata blistering clip, to more than $140 billion in 2004 from $3.8billion in 1987, according to a report by the Government Accountability Office. Today, in addition to Wal- Mart, at least five other com- panies are applying to the Federal Deposit Insurance Corporationto operate ILCs. The list includes DaimlerChrysler, Ceridian Corp. and Marlin Business Services Corp. Companies including Merrill Lynch, See WAL-MART, D5 Film State board OK's $675,000 in incentives to Utah film industry — Membersof the Utah Board of Business Development today approved $675,000in rebate incentives from the Motion Picture Incentive Fund. Therebate incentives were given to three Utah film production companies including Salty Pictures Inc., which received up to $250,000 for “Halloween Town4,” Go Films, which received up to $250,000; and The Last Sin Eater LLC, which received up to $175,000. “The Utah Film Commissionis very pleased with the success of the incentive program andthe resulting 58 percentpositive economic growthit broughtto thestate last year, including the creation of 4,000 new jobs,” said Aaron Syrett, director of the Utah Film Commission,whichis part of the Governor's Office of Economic Development NATIONAL BRIEFING Judge throws out lawsuit to regain SL Tribune SALT LAKE CITY — judge on Mondaydismissed a lawsuit filed by The Salt Lake Tribune's former owners, who have been tryingforfive years to regain ownership of Utah's largest news- 19 Paths. District Judge Tena Campbell granted motions by Denver- | based MediaNews GroupInc. andothers to dismiss the case. MediaNews bought the Tribunefor $200 million in 2001 and shutout a bid bythe McCarthey family, which traces part-ownershipof the paper back nearly a century. The family argued. it had an option to buyback the paperfive yearsafter other sharéholders persuaded the family to merge the Tribune with John Malone's cable-television giant Telecommunications Inc. in a 1997 stock swap. MANUEL BALCE CENETA/AP World Bank Development Committee Chairman and Colombian Finance Minister Alberto Carrasquilla shakes hands with World Bank TheTribune madean earlyinvestmentin TCI that over four decades multiplied 10,000-fold in value to nearly $500 million. That President Paul Wolfowitz, right, before the start of the Development Committee session on Sunday in Washington. wealth left the Tribune's biggest shareholders with an estate tax problem that the sale to TCI solved. Finance leaders address trade Canadian companydrilling for uranium in Utah SALT LAKE CITY — MAXResourceCorp. said Mondayit was gaps,oilprices,currency issues drilling for uranium at a mountain 150 miles southwest ofSalt LakeCity in Juab County. The Vancouver,British Columbia-based companyplanned to drill a 1,200-foot hole to follow up onthe discovery of a rich uranium vein madein the 1980s by Phillips Uranium. It's the secondof six holes MAX Resourceplans to drill at | Martin Crutsinger THE TED PRESS Thomas Mountain. The companywas interrupted last month by heavysnowfall MAXResourceholds 195 uranium claims over3,900 acres of land about 20 miles west of Delta and near the defunct Yellow Chief Mine, which produced-morethan 500,000 pounds of uranium in its heyday. With prices for nuclearfuel soaring, another companyhas applied fora state license to open a uranium mill in southern Utah. D Intemational Monetary Fund: Wolfowitz told a closing news conference that he was satisfied with how the debate was resolved. “These-are complex and nuanced issues, but we must develop a common approach if we wantto deliver results for the poor,” he said. “It is an effort that will take some www.imf.org, time.” On the Net WASHINGTON — Finance ministers endorsed proposals Sunday intended to makeit easier for international lending institutions to deal with soaringoil prices, trade gaps and other problems thatthreat- | } World Bank: www.worldbank.org en to derail growth. policy ig for the 184-nation International Monetary Fund and the World Bank told the World Bank to attack corruption anddirected the IMF STOCKS OF LOCAL INTERES Yesterday's performanceofselected publicly traded companies sY¥mM COMPANY LAST CHANGE AA —-ALCOAING ABS ABX ALBERTSONSINC BARRICK GOLD CP ‘AEP AMERELECTRIC POW CO AIG SYM » to explore ways to give tougher policy ad- COMPANY. LAST CHANGE 3553 +018 MSFT Microsoft Corporaton 2711-008 2528 MU MYGN ‘MICRONTECHNOLOGY Mynad Genetics, inc. 1640 2560 NATR NATURES SUNSHINE 004 AMERINTLGROUP INC NETM NetManage,Inc AMD ADV MICRODEVICES NUS. NWN NUSKIN ENT INC NORTHWESTNATGAS 1672 018 3486-0004 BLL BLS BALLCP ‘BELLSOUTH CF PCG PFE PGRECP. PFIZER NC 3937 2479 0.16 0.08 c CITIGROUPINC RDPRF ROYALDUTCHPETSWIS 65.745 0.00 RZ RASER TECH INC —_BANTACORP Q CMCSK Comcast Corporation CVX CHEVRON CORP DIS WALTDSNEV-OSNEYC (CBAG CRESTED CORP 2727 +025 DNEX Dionex Corporation 5962 ERICY LM Eficson Telephone ETR —_ENTERGYCP FC FRANKUN COVEY CO GOW GOLDENWESTFINCP GE HCA HRB HSIC 18M INTC JBLU XP JW RON LEE LF WwW WW MCK MER MITY MSI GENELECTRICCO HCAING HRBLOCKINC HenrySchein, in —INTLBUSINESSMACH intel Corporation JetBlue Arways Corporaton PENNEYCCOHOLOIN NORDSTROM INC Kronas incorporated LEEENTERPRISES LONGVIEWRIRECO -WUCENTTECHING SOUTHIVESTARUNES MCKESSON CORP MLCOCMNSTK —_MITY Enterprisesinc. Merit MedicalSystems, inc. 1.16 959 +021 014 %04 007 Rs 02 3393 004 4687 +064 «@2.17 +045 1891 015 940 +045 6342 +042 3824 040 40.7 029 3038 022 ©2635 010 297 ‘008 1658 +058 4310-051 78 032 187% 024 11.05 018°! QWETCOMMINTLINC 768 +010 1629 +031 SNTD Sento Corporation SP SCOTTISHPWRADS ‘SKYW SkyWest, Inc 810 +013 451 029 ‘STA STPAUL TRAVELERS CO 4295 +024 STR =o +007 ~—QUESTARCP 76.76 0.09 SWHT Swift Transportation Co,Inc 31.08 -058 | | | | | sy SYBASE INC T /ATRT INC, TCT UDR UNH USB USEG USNA UTMD VZ WEN WFC WMT WAI X XBL ZON TARGETCP UNTEDDOMINRLTYTR UNITEDHEALTHGROUP USBANCORP US. Energy Cops USANAHeatth Scencesinc. UtahMedical Products inc. VERZONCOMMUN WENDYSINTLINC WELISFARGOBCONEW WALMART STORES SCHIFFNUTRT INTL —UNTEDSTATESSTEEL XCELENERGYINC ZonsBancoporaton governancein countries.” Some European nations complained that the World Bank’s president, Paul Wolfowitz, was emphasizingthe fight against corruption at the expense of poverty reduction. The former top Pentagon official began his five-year term in June. The Bush administration saysit’s critical to crack downon corruption so that the USS.is assured its dollars supporting the bank are not wasted. “Withbillions of peoplestill living in destitute conditions, we cannot rest,” Treasury Secretary John Snow said. “We must do more to makethese ideas and programs even more productive, beneficial and effective.” On the issueofoil, the world’s seven wealthiest industrial countries met Friday night with three big oil-producing countries — Saudi Arabia, Russia and the United Arab Emirates — to explore ways See ISSUES, D5 668. 0.03 SCOK [COGroup, nc 496 +017 SHLD Sears Corporation ie +1.60 Sl_~—SMITHINTLINC 0.02 3503-034 7064 +055 6822 Novell, Inc. 595 01 AMGN Amgen inc BAC BK OF AMERICA CP BN NOVL 000 0.08 995 +057 vice to membercountries in such areas as budget deficits and currency values. Oil prices, now at a record $75-plus per barrel, were among the developments causingofficials from Europe, the United States and other countries at the institutions’ weekend meetings to worry about the prospects for long-term growth. With U.S. pumpprices already above $3 per gallon in someplaces, the White Houseis underpressureto act. On Sun- day, for example, the chairman of the Senate Judiciary Committee said the government should consider a tax on oil comPanies if they make excessiveprofits. In talks that wrapped up Sunday,ministers resolved a dispute overanti-corruption efforts by pledging “to improve N26 016 2553 +018 5180 +095 2819. 40.12 S016 +059 3050 003 681 007 3734 056 31.17 033, 3230-022 18 039 65.10::+007 554 028 52 008 6848 +133 1845 +015 8092 054 Ex-Computer Associates International CEO pleads guilty Tom Ha’ THE ASSOCIATED PRESS ing contracts. According to the indictment, Kumar was so involved with adding revenue toa financial quarter even after it closedthat he flew to Paris in July 1999to practiceand I apologize for my actions,” Kumar told the judge, referring to the accounting fraud. Richards pleaded guilty to the same charges in federal Inc., and another former execu- finalize a deal and court in Brooklyn. tive pleaded guiltyon Monday to obstruction ofjustice andsecurities fraud charges in a massive accounting scandal at the Bes tyre ere Kumar andStephen Richards,its former head of worldwide sales, had been accused in a 2004 indictment of engaging ina wi id me to falsely inflate the company’s quarterly earnings by backdat- signed a contract that had been Both remain free on $5 milbackdated. lion bond while awaiting their The indictment also charged oe12 sentencing. The law that executives instructed allows a maximum sentence tocomplete deals _of 20 years in prison for the after the quarter had closed offenses, but the term could be and “cleaned up” contracts by substantially less under federal removing time stamps from sentencing guidelines. faxes. Kumar is also a co-owner “Your honor, my conduct of the New York Islanders was wrong.I take responsihockey team. bility for participating in this Computer Associates, which NEW YORK Sanjay Kumar,the former CEO of Computer Associates International is makes software and storage systemsfor large Se ‘eed in 2004 to pay $225 million to shareholders in a settleTee ee Pre Islandia, N.Y.besed companyrestated its financial ae from 2000 and 2001 to Teflect $2.2 billion in revenue that was improperly booked. During the company’s fiscal year 2000, Computer Associes recognized’ more than $1.4billion in revenue from at least 116 contracts that had not yet been signed, and Exchange |