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Show Business Suit akr tribune L.S.-Lihv- Marybeth Nibley AP Business U riter Gold prices surged NEW YORK in busy U S. and European trading Wednesday, reaching the highest levels in about 14 months, amid anxieties over the tension between the United States and Libya The dollar declined as currency traders awaited the outcome of the upcoming meeting of finance authoriBy Tr'Dune SMM Photo be Fron ties from the United States. Britain France. Japan and West Germany Renewed speculation that the officials from the five countries may favor concerted action to force interest rates down helped push the dollar lower, currency dealers said On the Commodity Exchange in New York, gold for delivery in January jumped $9 80 a troy ounce, closing at $349 50. The Republic National Bank in New York quoted gold bullion at $349 an ounce at 4 p m EST. up $9 75 from Tuesday's late bid PorschOf'S Jeffrey Nichols, president IOMEGA to Build Plant In Salt Lake Area, Will Employ 300-50- 0 By Robert H. Woody Tribune Business Editor IOMEGA, computer Roy-base- d components manufacturer, con- firmed Wednesday it will build a Salt Lake area plant employing 300 to 500 . by the end of 1986. Appearing at press conference with Utah Gov. Norman H. IOMEGA president Gabriel P. F usco said the plant will produce cartridges and the Bernoulli Box system IOMEGA employs 1.200 at two plants in Roy where it began operations in 1982. The Bernoulli Box system permits storage of a large amount of informaGan-gerte- r. tion on a floppy disk. The system is protected by patents and assures IOMEGA protection from competitive inroads that have plague the 70 or so other disk manufacturers in the United States. Mr Fusco said. Mr. Fusco said that IOMEGA has three sites under consideration. While future employee numbers are as yet undefined, he noted that IOMEGA has specifically requested a building that would provide one thousand parking places. Mr. Fusco said IOMEGA hopes to foster Utah as a high-tec- h center of research and development, production and support services. IOMEGA, he said, expects sales of 1200 million in 1986 comapred to 115 million in 1985 and $450,000 in its first year of operations. IOMEGA paid salaries and wages of $23 million in 1985. he said. IOMEGA was founded in 1980. The Bernoulli Box takes its name from Daniel Bernoulli, an 18th Centud ry Swiss mathemetician who the principals of fluid dyan-micsaid IOMEGA vice president David Norton. Application of those principals allows a very precise and intimate contact between computer floating head dev-lope- of American Precious Metals Advisors Inc., said gold buy ing has been heavy partly because of the U S Libya confrontation over the December airport attacks in Vienna and Rome Gold in the past has been considered a safe haven for investors in times of international turmoil Nichols said Middle Easterners, among others, have been purchasing gold in recent days, which has helped send the precious metal's price high- h and storage disk, with tolerances of less than a millionth of an inch. That tolerance allows magnetic storage of information "bytes" in very minute magnitude. That, in turn, allows the Bernoulli disc to accept about 10 times as much information as competing floppy disks, he says. "They are an exciting company and their corporate presence has a productive influence on the business climate of the state," Gov. Bangerter told the conference Maxilian A. Farbman. chairman of Utah Business & Economic Development Divsion worked with IOMEGA in selection of Utah over other states, including Colorado, for siting the plant. "We were in competition with the Boulder (Colo.) area, one of three or four premium high tech centers in the country. The wonderful thing is we defeated one of the heavyweights." Mr. Fusco previously told The Tribune that IOMEGA had hoped to have the state pass a sales tax exemption on equipment purchased for research and development. He said, however, that was not the absolute determinant in making the final site selection. Sen. Paul Rogers, who had prefiled a research and develp-metax exclusion measure, told The Tribune that efforts are being made to work out the language of the bill with the Utah Tax Commission. One of the challenges, he said, is how to identify equipment used for research and development. Still another question relates to whether research and develpment equipment used under a government contract can be given sales tax immunity. The Internal Revenue Service has contended, he said, that research and development equipment used in government contracts cannot figure as risk investment for IRS purposes, because no risk is involved. nt action Tension Furl Surm in liullinii a Gold Soars to IOMEGA president Gabriel P. Fusco sees plant expansion in Salt Lake County as bonus to states high-tecaspirations. Tburidav Morning er. "For Middle Easterners, gold has a long tradition of being a secure investment in troubled times." said Nichols. Bernard Savaiko. a senior precious metals analyst with PaineWebber Inc., said some of the resurgence in investors' appetite for gold stems from last week's sharp sell-of- f in the stock and bond market Burger King Finds Elusive i Herb' MIAMI (AP) Burger King has "found" the elusive "Herb" and officials say the rest of the country will soon know the identity of the hapless. Whopperless character when he appears on national televison. "He's from Wisconsin." said Burger King spokeswoman Joyce Myers. She declined to provide an exact hometown, last name or picture. Herb, who has never tasted a Whopper, will also eat a burger next Wednesday at the corner of 57th Avenue and Fulton Street in New York City, she said. Burger King plans to hold a press conference to celebrate the discovery of Herb, whom they created with a national advertising campaign two months ago. But rivals of Miami-base- d Burger King say they already know where Herb can be found. "We got a letter from a Herb in Wisconsin," said Wendy's spokesman Denny Lynch. "He said he couldn't be found by Burger King because he's at 14-Mon- ISnv 16 Faze C 1 High; Dollar Dips After opening luwer in London and Zurich, heavy baying lifted gold to it highest price since November 9H4 and it then remained high throughout I.onden In $346 2d, up S ) gold wa 70 (rum tin Nun Virks Cuniex silver fur January delivery closed at $6 143. up from $6 It,'9 on Tuesday Meanwhde the dollar finished lower against roost major currencies, ex cept the ( anadian dollar Dealers linked some of the dollar selling to a report quoting West Ger-Se- quell'd ,i' the prewm,-da- y 1 the day Gold finished the session in Zurich Europe's biggest market, at a bid price of 1347 50 a troy ounce, up $0 from Tuesday ;n Hung Kong guld rose tu close at a bid of $340 63 Silver bullion also rose In late trading in London, silver was quoted at $6 12 a troy ounce, up from $6 01 on Fuesdav Earlier, $3 111 e ( 4. Column Pearson Enterprises Reorganizes By Robert H Woody Tribune Business Editor Pearson Enterprises. Salt Lake hotel owners and operators. Wednesday announced a major reorganization and creation of a new subsidiary. Pearson Hospitality Group Pearson Hospitality will be headed by Richard P. Millard A native of London now a U S citizen. Mr. Millard had lengthy experience with Sheraton. and Hilton hotel operations Before joining Pearson's. Mr Millard was with the Clarion Hotel at Denver's Stapleton Airport At press conference. Mr. Millard described a growth scenario that will see Pearson as an owner or coowner of 1.436 rooms and an employer of 1.500 by 1987. Pearson Enterprises is owner of the Salt Lake Hilton and with the Boyer Co., of the Airport Hilton and the Ogden Hilton. It is along with West Temple Associates of Scottsdale, Ariz., of a Embassy Suite City-base- firm lion conlerence 220-ruu- Re- search Park The firm also disclosed Wednesday that it will be constructing a "Retirement Suites" facility at 700 East and South Temple. The facility will have about 60 residential units Mr Millard also told the press conference that Pearson Hospitality not only plans to manage properties in which Pearson has an equity interest but also to offer its service and expertise to other own ership groups Dwain J Pearson, chairman of the Pearson Enterprises, said reorganization was based upon recom mendation of a consulting firm to help the company realize future growth opportunities. Pearson Enterprises describes itself as "a locally owned company directed by a small family group that has pioneered innovative frontiers within Utah's hospitality industry for 28 years. The president is Rikard Pearson. d r Hyatt-Re-genc- 241-roo- of a hotel at the University of Utah Richard P. Millard Heads New Subsidiary Hotel to be opened March South and West Temple. 15 at 600 The firm also is engaged in con 89,000 lielow .National Axerae S.L. Home Prices Among Wests Lowest half spent figures, and earned less. or By Thomas H. Gorey Tribune Washington Bureau WASHINGTON The median price of a home in the Salt Lake area last year was $66,000, according to housing data released Wednesday by the U S League of Savings Institutions. That figure is $9,000 below the national median home price of $75,000 and $42,000 below $108,000 the median price for a home in the West, the savings league reported. The median, in the league's housing study, is the point at which there are an equal number of home buyers above and below it. The median income of Salt Lake City Ogden home buyers was $34,560. and they paid $706 in median monthly housing expenses, the organization found. That compares to the national median income of $42,396 and to national median housing costs of $770 a those month. In the West, home buyers had a median income of $49,560 and median monthly housing expenses of $1,020. In the data above, half the home Americans' oil appetite shrank to million barrels a day last year from 15.72 million barrels a dav in - City-Ogdc- n home-buyin- itan areas port in compiling its 1985 re The savings league study showed that national monthly housing costs, as a percentage of household income dropped to 21 6 percent last year. The savings league, which represents 3.400 U.S. savings institutions and publishes data every other year, surveyed 46 metropol g U.S. Oil Demand Takes 6th early Dip 1984. the trade group said. The API pointed out that U.S oil demand, which was weak in the early part of 1985. accelerated as the year NEW YORK (L'PI) Demand fur petroleum products in the United States, the world's largest nation, dipped 0.2 percent in 1985 for the sixth yearly decline since 1979. the American Petroleum Institute reported Wednesday U.S. oil demand has declined every year except 1984 after peaking in 1978. when the Iranian revolution set the stage for the second OPEC oil price shock of the 1970s. In 1984 U.S. oil demand rose 2.7 percent over 1983 progressed and rose 2.7 percent in the final quarter. Lower deliveries of residual fuel -used by utilities to generate electricity and heavy industry to run plants obscured the fact that demand for other petroleum products increased about 1 percent in 1985 above the 1984 pace, the API said U.S. gasoline demand climbed 6 percent to 6.80 million barrels a day last year. - levels. 1 15.69 YAMAHA PIANOSANDOTHERS All Sizes, Styles, Finishes Pianos Organs Sheet Music Rentals Sales Guitars. School Instruments SUGAR HOUSE 1915 E. 4800 So. 2233 Highland Drive Men. Sat. Introducing the Videowriter'" lb, inu th buyers spent or earned more than Wendy's." Janu.ir Acrox from Cottonwood Mall Mon. 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