Show 'wale — D14 BUSINESS Sunday The Salt Lake Tribune When Utah Exec Talks Russians L4ten Mayor Sandy Debate Mall Construction While Other Stores Await Occupants 13 Continued from D-1- time — the construction industry was failing" Mr Smith said 2 tennomEmmon 20-acr- e THE SALT LAKE TRIBUNE market-oriente- needs He wouldn't discuss specific potential anchor stores but said they would specialize in what Sandy currently doesn't have: furniture and "Sandy is losing $150 million a year in sales" lost to other reot:VWf'-:-"-:--4Fr- ' 'It ' if jf ALIMPr 'ROTEL ‘1 :k ' t' 14 KNOWS BUSINESS PHONES CHARGE? 1 Whatever The Sale— However The Customer Chooses to Pay -- 'It '' ' li 0q '‘ - '' 0141' 0 ' - s - i 4° 'CC N iit I: t fr 14 : I 4' N0 :::S MasterCard - :43LI 7' t e'- '''' ' f 41 ' I - (7) 1 :: :-- 47) 1(:)- C 0 Guaranteed anxiety? 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"33 11 Lit 1k A 7:1 11 Ct kei 4 t 1 0 :i'7 i'' Ip Ali I g ' f "'"J ILI 11 ft CHERRY PAYMENT SYSTEMS Is The ' i1 CAS1101ECIC or i kA 485-110- 7 1 A I r -- I t ' AO I" d fill up I e A ut thi till till rel 40 t - - ' pr to communities because it doesn't offer those kinds of stores to residents Mr Papanikolas said "Our mall would address that need" and keep Sandy residents in Sandy for their shopping I PARSIPPANY NJ — Armco Inc says it lost $305 million in the first quarter and suffered an 11 percent sales decline compared to the same period last year All-Russi- state-owne- d clothing PRESS I y k THE ASSOCIATED d n x Armco Loses $30 Mi Ilion I econoRussians trying to create a my in the former Soviet Union are listening to a Utahn who says he knows how to change government monopolies into private businesses Art Brothers president of Beehive Telephone Co of Wendover is designing an international stock corporation to replace the state-rutelephone company of Sakhalin an island about the size of California off Russia's east coast His ideas were discussed last week at a conference in Salt Lake City attended by about a dozen people from the United States Russia and Germany "People from the Western oil companies who work on developing extensive offshore oil on Sakhalin's northeast coast seem interested in the project" said Mr Brothers In December the Sakhalin reformist government invited the rural telephone-companexecutive to install a modem for a local phone system Mr Brothers said the Russians were so impressed with his work that they asked him to present a proposal to improve their obsolete telephone system On Feb 14 Sakhalin Governor Valentin Fyodorov announced that a memorandum of understanding anchor stores in poor locations The smaller malls also don't have enough square footage to attract today's "power retailers" he said He said his development — in what he believes is a demographically prime location with adequate square footage — will provide the kind of sales-tarevenues Sandy desperately thing is a blight on the community' Now Sears Discover Card Center is there employing 1400 people Sears wouldn't have come here if that site hadn't been available" That's fine said Sandy resident and commercial real estate executive Bill Chillingworth But the Discover Card deal "was a shot" A use for such a space "just doesn't happen every day" It's more likely that such retail centers sit idle for several years go into foreclosure and contribute nothing to a community's tax base the top Utah executive for CB Commercial pointed out In a telephone interview from his Tucson Ariz office Magna Investment and Development representative Bill Papanikolas predicted his proposal at 9400 had been signed to commence priva0ation of the island's telephone system and creation of an international consortium "The Sakhalin telephone system h a variety of problems representative of the entirellussian country" Mr Brothers said citing finance inflation and lack of modern technology Initial projects include upgradingi Equipment at the operator office in Sakhalin "Total investment is estimated at a out $50 million and nearly half of it is to be investid by Western businesses" said Mr Brothers Remaining shares will be split 4tiveen the State Telephone Co in Moscov and regional government of Sakhalin One of the problems US compan s have is US Department of Commerce restrictio on exporting fiber telephom cables and equipment to Russia "This restriction should be liftei since it precludes US business participation U a market that promises about $35 million annuallifor many years in the future" Mr Brothers said i "If we are successful in lifting itand in handling other problems some work can be dme there before the end of this year" the Utahn pridicted By Michael Nakoryakov South and Highland won't fail — as do smaller malls with weak "People were saying: 'This yards from that intersection is particularly rankled because a successful commercial mall anchored by a Smith's Food Center and a ShopKo already exist there And just a few blocks away sits the nearly empty Fiesta Village now in foreclosure Bell Canyon Center — 12 blocks south at 1300 East and 10600 South — also is struggling "We're sensing a slow eroding of residential zoning" said Mr Odendahl who worries about increased traffic through the remaining residential neighborhoods Sandy's mayor meanwhile points to an early 1980s project in west Sandy — the Build Mart construction mall adjacent to Interstate 15 After construction it sat empty about three years "Build Mart came in at a bad April 26 1992 En1 ruptcie That Citicor ing mo A sel a histo record turned Detm f apply Only one homeowner could resist our new Fixo - 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