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Show Chamber Will Move Its Offices To New City Centre Complex By Joe Rolando Tribune Staff Writer The Salt Lake Area Chamber of Commerce will move into the first building of the City Centre project now under construction directly north of the Building on City-Coun- Jan 2. The decisict the by chambers board of governors Tuesday came after a more than & , Mr. Ball said the chambei plans to ask certain people in the community, including recipients of its Giant in Our City Award, and chamber members to sponsor various rooms and offices in the new headquarters by buying new furniture, equipment and supplies The chamber board of governors, under direction of Merline Learning, has agreed to serve as a committee to secure the sponsors The chambers offices have been in the Walker Center since 1968. In other action, the board of governors selected Rodney Brady, newly Halt akr appointed president and chief executive officer of Bonneville International Corp., to fill the unexpired term of board member Robert Rose of Arthur Andersen & Co., Salt Lake City. Mr. Rose was transfered by Arthur Andersen to Oklahoma City and had to resign from the board. Dr. Brady, who takes the top position at Bonneville International July 1, has been president of Weber State College, Ogden, since 1978. Bonneville owns 14 radio and television stations, cable systems and other media holdings. (Erilmnc By Gerald Knight-Ridde- Business May 29, 1985 Wednesday, Section B 9 Page No Clear Trend Market Advances and Then Falters Glen Swenson. In an interview, Fred S. Ball, chamber president and general manger, said the board of governors decision is contingent upon the chamber reaching agreement with City Centre on its chamber dues structure. He said City Centre is planning to dramatically increase its dues to help the chamber pay its rent. To Rename Building Mr. Ball said developers of the City Centre project, John Price Development Co. and Prowswood, have agreed to rename the building into which the chamber will relocate The Chamber Building. It was previously to be named City Centre 1. The chamber, whose lease at the Walker Center, 19 E. 200 South, expires July 1, 1986, will lease 10,000 square feet on the sixth floor of the City Centre building. The lease includes an option to renew the agreement for 10 years. Mr. Ball said work is expected to be completed on the first City Centre building the end of November. City Centre was picked over three other finalists as the site of the chambers offices mainly because it was the only development which agreed not to raise charges for the life of the chambers lease, said Mr. Ball. All four developments would have initially charged about the same amount of money per square foot, he said. New, Attractive Place Two of the four places the chamber was seriously considering were more than 20 years old, said Mr. Ball. It was felt by the facilities committee and the board of governors that a new, attractive space must be provided for our job- - creation effort, he - NEW YORK (AP) The stock market showed no clear trend Tuesday after an early advance faltered. Issues involved in takeover and buyback news drew most of the atteny tion in a relatively quiet post-holida- session. The Dow Jones average of 30 industrials, up more than 5 points in early trading, finished with a .45 loss at 1,301.52. Volume on the New York Stock Exchange came to 90.60 million shares, against 85.97 million last Friday. N Y.S E. Index 108.73-0.1- 4 S. & P. 187.86-0.4- 3 Comp. Dow Jones Ind. 1,301.52 - 0.45 Declining interest rates have been cited as a primary force behind the rally in stock prices since May 1, and they kept dropping Tuesday. Prices of long-tergovernment bonds, which move in the opposite direction from interest rates, rose more than 310 for every 31,000 in face value. Though rates are well below their recent peaks, analysts noted, they still are relatively high in comparison to inflation. As long as inflation remains subdued, optimists argue, there is room for further declines in the cost of borrowing money. The Federal Reserve has apparently given the downward trend in rates some further impetus with the reduction of its discount rate, from 8 to 7 Vi percent, it announced a week ago Friday. With all that, analysts said, traders appeared to be reluctant to chase after stocks at the lofty levels they have reached. Rather, they seemed inclined to cash in on some of the markets recent gains. Brokers also said it was natural for investors to be proceeding wanly as they awaited Tuesday nights message from President Reagan on his plans for tax reform. Resort Area Sales ar Park City Consolidated Cuts Losses, Is Planning Further Development By Robert H. Woody Tribune Business Editor Park City Consolidated Mines Co.s 1984 losses fell from the previous year losses with increase in revenues through real estate development sales in the Park City resort area, H. McKay Edwards, president, an- added. The chamber president said, Biggest feature we like is it the City Centre project is adjacent to the He-bJames Wells Building, across the y offices and in close proximity to the Metropolitan Hall of Justice. The chambers new office space will accommodate a multimedia center, particularly beneficial to the organizations Economic Development Council, which can use it for its efforts, said Mr. Ball. The new chamber office also will provide an outside balcony and four conference rooms. City-Count- nounced. Mr. Edwards also announced the firm will attempt private placement of 1 million shares to raise '500,000 for further real estate development. While the addition of shares to the present 6.5 million outstanding would dilute individual holder interests, enhancement of company.real estate is considered to more than compensate for the dilution, he said. The company will make a presentation to potential investors June 11 in New York. Net Loss for 1984 The company had a net loss in 1984 of 337,000 on revenues of 3239,000 compared to a loss of 371,000 on Power Plays Is the Boss a Tyrant Or Good Manager? , IK. a facilities com-Dr- . Brady mittee which studied more than 25 office sites. The committee was chaired by architect street from the Buxine? OHjr revenues the previous year. Last year, the company completed merger of the former majority-owne- d subsidiary the Queen Esther Mining Co., into a wholly owned subsidiary. With merger, Park City Consolidated acquired an additional 175 acres of fee land. Forty-thre- e acres of that is under development as condominium land near the Deer Valley Ski Resort. The company is no longer active as mining company. Its mineral income has dropped since relinquishment of a mineral lease in 1982. 382,000 in Real estate development on the Queen Esther land is now its more important source of income and is expected to account for most income in the future, Mr. Edwards said. Other Holdings The company owns about 100 acres in Summit County. It owns 600 acres in Wasatch County where it is pur chasing water rights for development of the land. Its holdings make it the land owner in the area after United Park City Mines Co., on whose land much of the present Park City Resort is located and the Mayflower Group, which acquired the former New Park Mining Co. land in Wasatch County. third-larg-e- st Mr. Edwards noted appointment of Harry Reed, a Park City developer, to the board. The action, he said, reflects Park City Consolidateds shift from mining to real estate activity. Mr. Edwards, formerly vice president, succeeded Gordon D. Stott, Mount Kisco, N.Y., as president last year. Mr. Stott was named chairman. Mr. Edwards is former president of Compliance Engineering Co., a firm engaged in identification and capping of abandoned mine shafts. at The annual meeting will be 2 p.m. in the Hotel Utah. June 18 r Graham Newspapers After leaving a management meeting, a new supervisor commented, Whew1 I guess we are really going to have to change things. The boss was angry. A long-tersupervisor who had been at the same meeting reI wouldn't worry too much about what he said He Oh, sponded, gets angry like that once in a while. We dont pay too much attention to his explosions. In this case, the higher-leve- l manager had very little power, although he did have a high-levposition Further, the manager appeared to be using his power incorrectly. Power is a taboo word in management Most of us would not admit that we like to exercise power; and in fact, some managers actually do not like to use power. However, power is the ability to influence others, and to be successful, managers must exercise power in an effective manner. What are the sources of power in organizations? Most authorities cite five potential sources of power (1) ability to reward; (2) ability to punish, (3) respect (based on knowledge and experience); (4) formal position (title), and (5) ability to persuade (charisma). I have observed three major problems in the use of power by managers. Emphasis on the wrong sources of power. Many managers place too much emphasis on ability to punish and formal positon. In a recent survey, I found that managers ranked their two most important sources of power as discipline and positon A subordinate of a manager who relied heavily on discipline to influence subordinates commented, "My manager can influence people because everyone is afraid of him But we are not g ling to do any more than we have to Unfortunately, some managers, when they get t e title and the larger office, think that people will follow them simply because they have the title. I overheard a newly promoted manager comment, Before I took the position, I demanded that my title be placed on my door and on all of my stationary. Im going to demand that people have respect for this position. Today, it is very hard to demand respect through sanctions and position. Effective managers rely heavily on respect and rewards. As a subordinate commented, "When my boss asks us to do something, he gets cooperation, not because he is a tyrant, but because he knows what he is talking about And he is quick to praise us when we get results. When an empire-builde- r has to Concentration on empire-buildinchoose between reaching organizational objectives and enhancing his chooses to enor her power, there is no conflict. The empire-builde- r hance power. A candid empire-buildin- g manager commented, Ill admit I want to the have largest budget possible. It is not my job to my department help other departments. I look out for myself and they can do the same. said that his greatest achievement was getAnother empire-builde- r ting control of the computer about 10 years ago. He bragged that he predicted the importance of the computer in his company and he got control of it. When asked why he wanted the computer so badly, he responded, "So that I could have a respectable power base. Confusion between compliance and commitment. Compliance means doing just enough to get by and keep the superior off your back. Commitment, on the other hand, is a passionate devotion to accomplishing the organizations goals. Some managers use their power to get compliance. They want to keep their troops in line. With heavy emphasis on rules, regulations, discipline and anger, they get their people to respond to their whims. But such managers are able to generate little loyalty and commitment to put forth the extra effort. Managers who rely more heavily on respect and rewards as their power sources are more likely to get commitment and loyalty. Management Quiz Instructions: Below are five sources of power. Rank them one through five according to which you depend upon most to influence your subordinates. A. Rewards: I give praise, salary increases, good reviews and promotions to people who do what I want them to. B. Formal Position: Since I have the title and the leadership position, I expect my people to do what I ask C. Persuasion: I try to look and act like a leader. I try to talk people into doing things by showing them the benefits of doing them. D. Punishment: Although I dont like to do it, my people know that I will take quick disciplinary action when they violate my policies E. Respect: Before I try to influence others, I do my homework. I want people to do what I ask because they respect my decisions. . Sales of Existing Homes Hit Highest Level Since 80 By Martin Crutsinger Associated Press Writer WASHINGTON Sales of existipg single-familhomes, bolstered by declining mortgage rates and continued strong demand, rose in April to their highest level in almost 4 Vi years, a real estate trade association said Tuesday. The National Association of Realtors said previously owned homes were sold at a seasonally adjusted annual rate of 3.04 million units in April, - y the fastest pace since November 1980. Based on sales in the first four months of the year, the association estimated that 3.1 million existing single-famil- y homes would be sold this year, making 1985 the best year for home resale since 3.8 million homes were sold in 1979. Recent declines in mortgage interest rates are helping an increasing number of families achieve the American dream of home owner Roberts, a Mobile, Ala., real estate agent, predicted home sales would continue to improve through the sumthe end of the mer, but decline tow-aryear as interest rates start rising again. The April sales pace represented a slight 0.3 percent increase from the March rate of 3.03 million units, but was 9 percent above the level of last RC to Join Comrades in Great Cola War - RC Cola announced Tuesday it NEW YORK (UPI) would join the great cola war, invoking scenes of Communist Russia to dramatize the strong preferences of RC loyalists. The Rolling Meadows, 111., based Royal Crown Cola Co. said it would begin a new 310 million advertising campaign, with ads scheduled to begin airing Wednesday. One commercial shows three Russian-leade- r types unileading a throng of Coke and Pepsi drinkers in grey forms. "For years, the ad says, our friends overseas have been drinking only Pepsi. Recently, they started drinking Coke. And now our friends drink Coke and Pepsi . . . only. But somewhere, there are people who will go out of their way for the taste of RC Cola," the ad continues, as rates reached July, when interest their 1984 peak. said David D. Roberts, president of the association. ship, the scene shifts to a remote setting in what could be Siberia. A small group of partying Soviets are drinking RC and smashing their glasses into the fireplace. But a knock at the door reveals two shadowy figures against the barren landscape, as the RC drinkers hide their favorite cola. Yes, some people go out of their way for the taste of RC. But sometimes, not far enough, it concludes. When Coke joined Pepsi as the only authorized colas in the Soviet Union, that stirred our imagination, said an official at Dancer Fitzgerald Sample, RCs advertising agency and the firm responsible for Wendys Wheres the beef advertising. Somewhere out there we know there are millions of consumers who refuse to follow the party line and who would truly go out of their way for an RC, he said. At that time, conventional fixed-rat- The housing report also said the median price for a single-famil- y home rose to 374,400 in April, a 3200 increase from the March level. The median price means that half the homes sold for less and half for more. 388,800. The most expensive prices were still in the West, where homes sold for 396,500 in April. The median price of an existing home was 372,400 in the South and 358,400 ir. the Midwest. WHAT: 240 ACRE RENTAL PROPERTIES COMMERCIAL LOTS CAFE, R.V. PARKS, GAS STATION AND HOME THESE PROPERTIES WILL SELL TO THE HIGHEST BIDDER!! JUNE 7TH, 400 PM WEST 100 SOUTH, VERNAL, UTAH FRI. JUNE 7th, 11:OOAM MYTON, UTAH (40 MILES W. or VERHAL) 650 ofhJgh intere$t on money marke THE TO A COMMERCIAL EXPANSION LOT OR NEW VENTURE SUITABLE PLEX RENTAL LAUNDRY FOR . BE WILL FOLLOWING INDIVIDUALLY STATION STOPS ANO GAS LOCATED ON SAAK MOUNDS AS A 12 STATION V. PARK ANO HOME. THE ABOVE IS ADJACENT AND AS A APARTMENT ADJACENT TO OFFERED PACKAGE: Nte MlMfllMIHrtMeltN tntynw iIimMImv If. 4 COMMERCIAL LOT. SAT JUNE 8TH 12:00 NOON 8 MILES EAST OF MYTON, UTAH THE FOLLOWING BE OFFERED INDIVIDUALLY AND AS A PACKAGE: 160 ACRES (IRRIGATED ON CENTER PIVOT) FARM - RANCH LAND ADJACENT TO 80 ACRES UNIRRIGATED FARM - RANCH LAND. FACT SHEETS ANO FURTHER DETAILS ARE AVAILABLE UPON REOUEST AFFILIATE BROKER m Interteke lA irunzo 388 jiiiiii. !i ..JT ir. 5 WITH WILL 4 tact bnrimJ WmW m Graham is R.P. Clinton Distinguished Professor of Management at Wichita State University. He has written several management textbooks and is a management consultant. However, the price in the Northeast was 15.9 percent above a year ago. In April, the median sales price for a home in the Northeast was MJCTTMM CONVENIENCE Comments: Effective managers may use all of these power sources, but their rankings would be as follows: 1 Respect, 2 Rewards, 3 Formal Position. Persuasion, 4 Punishment, 5 The national median sales price was only 3.2 percent higher than a year ago, lagging slightly behind the overall increase in consumer prices for the same period. Real Estate THE FOLLOWING WILL BE OFFERED INOIVIOUUiy A CAFE WITH ADJOINING AM) AS A PACKAGE- e mortgages hit 15.2 percent. Various analysts say such mortgages have now dropped to around 13 percent and could go as low as 12.25 percent in coming weeks. Proittss'orwlism with Integrity W. HARTWELL, S.L.C. UT. 84104 - FRED GAGE D) O |