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Show October 1 02.qxd 12/7/2021 Volume VI Issue XII 2:30 PM Page 11 THE OGDEN VALLEY NEWS Page 11 October 1, 2002 CEO Sign-Offs Boost Investor Confidence The Securities and Exchange Commission’s (SEC) August 14 deadline for company executives to personally certify financial statements had been flouted by some in the media as the next Y2K—all hype, no catastrophe. The mandate essentially required CEOs and CFOs of America’s largest publicly traded companies to do what they have always done—put their stamp of approval on earnings statements that they believe to be accurate and honest. Although signing off on company financials is nothing new, the personal liability now attached to those signatures has caused many companies to spend additional time and money scrutinizing their earnings statements. Critics of the mandate say the cost to companies is too high, especially considering that most already adhere to correct accounting principles. But despite its possible drawbacks, the mandate gives corporate executives a unique opportunity to personally guarantee financial statements for shareholders and potential investors. It offers corporate America a chance to win back investor faith, and to re-energize the ailing stock market. Of the 695 companies required to certify financial statements by August 14, all but 20 handed down their signatures on time. WorldCom, Enron, and Adelphia were among the firms that either applied for an extension or could not comply with the mandate because of ongoing SEC or internal investigations. While a handful of companies restated past earnings before certifying financials, the vast majority of firms signed off on their earnings statements without making a single adjustment. To many observers, their unflinching confidence in the integrity of their companies’ accounting practices added weight to the argument that recent corporate wrongdoing has been the fault of a few rotten apples. As certified financial statements flooded the SEC in the days leading up to August 14, many investors apparently renewed their interest in corporate America. The Dow rose 240 points on August 14, and continued to trend upward in succeeding days, suggesting that investor confidence may have been wounded but not destroyed by corporate misconduct. The SEC’s August deadline is the first in a series initiated by the agency to boost investor confidence. It applied to publicly traded companies that earn $1.2 billion or more annually, and report earnings on a calendar year. The next deadline comes in late December for companies with comparable earnings whose fiscal year does not coincide with the calendar year. Thanks to legislation recently signed by President Bush, executives for all 15,000 publicly traded companies will eventually be required to personally vouch for company financials. Although this is a step in the right direction, rebuilding investor confidence could take time. If news of corporate integrity and positive earnings reports can take the place of Wall Street scandals in the media, big business may once again secure shareholder trust. As the next deadline for CEO sign-offs approaches, investors will no doubt be keeping an eye on corporate America. Mr. Salisbury is recognized as a leading financial educator and author. His workshops and seminars have been widely attended. He has lectured at Utah State University. Mr. Salisbury graduated Summa Cum Laude with departmental honors from Weber State University with a Bachelors degree in Mathematics, and a Masters degree in Physics from the University of Utah. Jeff Salisbury can be reached at Jeff.Salisbury@WallStreetLLC.com. For more information, see http://WallStreetLLC.com/Investors_Advocate.pdf Radon, a Silent Killer What is radon? Radon is a cancer-causing raioactive gas. It comes from the natural decay of uranium that is found in nearly all soils. It typically moves up through the ground to the air above, and into your home through cracks and other holes in the foundation. Any home can have a radon problem. In the U.S. it is estimated that nearly 1 our to 15 homes has an elevated radon level. How do I know if I have radon in my home? Testing is the only way to know if you are at risk. Radon gas is invisible and odorless. Both long and short-term testing devices are available. A homeowner should consult a radon professional to determine what type of test is best suited for their situation. What is the risk associated with radon? Radon gas increases the risk of getting lung cancer. Your chances of getting lung cancer from radon gas depends on factors such as the home’s radon level, the amount of time you spend in you home, and whether you are a smoker, or have ever been a smoker. Recent studies estimate that between 15,400 and 21,00 deaths per year are attributable to radon gas. than four picocuries per liter of air (4pCi/L). In Canada the federal government has recommended that the Canadian acceptable level for radon should be 800 becquerels per cubic meter of air. If your test results are at or above the government acceptable level, a radon mitigation system should be considered. Can a radon problem be fixed? Yes. Even very high levels can be reduced to acceptable levels. A radon profesional is qualified to evaluate and install a system to solve the problem. In most cases these systems involve the installation of a fan and ducting to help prevent radon gas from entering your home. The fan operates continuously; duct work runs from below the basement floor to above the roofline where the radon gas is safely discharged. Generally these systems are designed to be as unobtrusive as possible. The radon mitigation contractor will design the best system for your home. How important are post mitigation tests? Very important. It is the only way to know if your system is working effectively. The radon professional will leave instructions on how to prepare for and conduct this post-mitigation test. If I make improvements to my house, such as an addition or structural changes, should I retest? Where should I test for radon gas? The test should be conducted in the lowest livable level of the house, which is usually the basement. The test kit should be placed at least two feet above the floor. All windows and outside doors on the level you are testing should be closed during the test period. What is an acceptable level for radon gas? The current U.S. EPA guidelines is a radon gas level lower Yes, as these changes may affect radon gas levels. Retesting after the completion of any construction is recommended. It is also advisable to consult a radon professional prior to any construction. Note: This information was provided by Radon Management Services. They can be reached at 1-800-5810212, or visit their web site at www.rmsradon.com Selling? Buying? Relocating? Gage Froerer & Associates C21Utah.com or call (800) 879-5170 We are here for all of your Real Estate Needs! Gage Froerer Broker/Owner 391-4233 Doug 698-2770 Max 920-6890 Casey 698-4312 Joan 745-0444 *** PRICE REDUCED *** NORDIC VALLEY Magnificent custom LIBERTY’S HIDDEN SECRET A quaint 2405 N. Hwy. 162, EDEN home on 6.92 acres features “GREAT” room, Lg. gourmet kitchen, formal dining w/wet bar. Beam ceiling LR w/fireplace. 1600 sqft. outbuilding. Just $549,900 Call Joan @675-0444 or Gage @391-4233 MLS#295277 cobble drive is your way to a dream come true. This a definite “MUST SEE” inside and out. The Tower gives you views to die for-Ben Lomond Peak, Willard Peak, Ogden Valley and Pineview. Seclusion and very private. Great one level living, unless you want to hot tub. Call for your personal tour. Joan 675-0444 or 745--0444. Super traffic exposure! First commercial property as you enter Eden from Pineview. Unlimited potential uses for this 1.17 acre property w/ handicap entrance. Almost 800 sqft., hardwood floors and lots of windows. Watch for the OPEN signs and stop by or call Joan @675-0444 or 745-0444. MLS#295313 *** PRICE REDUCED *** **UNDER CONTRACT ** *** PRICE REDUCED *** $299,000!!! DREAMERS, INVENTORS, ENTREPRENEURS If you still have DREAMS you want to make a REALITY Accompanied by the DRIVE and DETERMINATION to make it happen - we would like to share HUNTSVILLE, Immaculate home with stream and breathtaking views, 7(+) acres, 4250 sq.ft. with beautiful hardwood floors and great open kitchen, dining and living area with deck and gas fireplace. Great horse property. $475,000. For more information call Casey @ 698-4312 MLS# 277664 HUNTSVILLE FORECLOSURE -HUGE Price Reduction 2-story home, unbelievable views of Pineview. 5322 sq.ft., 1.08 acres, lots of hardwood floors and great open kitchen and FR, 2 double car garages. $387,900. For more information, call Max @ 920-6890 MLS#267396 IBI Global with YOU! **SOLD ** Call Tiffany for more info at- 605-0691 The Ultimate Horse Ranch - 12.78 acres of prime pasture, 4800 sqft. Buxton custom home built in 1998, 120’x100’ (12000sqft.) heated indoor riding arena in a gated area. The seller is giving this place away at $300,000 under appraisal. JUST $829,000. For private showing call Joan 745-0444 or Gage 391-4233. This is a STEAL! MLS# 275764 *** PRICE REDUCED *** Audubon Hosts Annual Sale The Wasatch Audubon society is hosting their annual sunflower seed sale. The price for the black oil sunflower seeds is a great buy at $13.50 per 50-pound bag. Send your order and your check, payable to Wasatch Audubon Society, to: WASATCH AUDUBON PO BOX 3211 OGDEN UT 84409 Orders must be received by Tuesday, October 15. Your seeds will be available for pick up on Friday and Saturday, October 25 - 26, 10:00 a.m. to 4:00 p.m. at the Wildlife Resources Warehouse, 515 E. 5300 S, South Ogden. For more information, call 801-6217595. Visit the Audubon's web site at www.wasatchaudubon.org LIBERTY, Unique log home with huge stone hearth and wood burning stove. Very open and rustic. Large family room over the garage. Magnificent setting with beautiful views everywhere. Call Doug @ 698-2770 or Joan 745-0444 MLS#281153 EDEN, Super clean home with one level living. Sitting on .70 of an acre this 2423 sq.ft. home features hardwood floors vaulted ceilings, and deck. Really great neighborhood and views. $194,900. For more information. Call Gage @ 391-4233 MLS#279914 OGDEN CANYON LIVING! The Ogden River just outside your living room, bedroom and the walkout basement family room. Fish whenever you like. This home has 2030 sq.ft. 3 bdrms, 1 3/4 bath.. $164,000. Joan @ 745-0444 MLS#228315 Ogden Valley Lots & Acreages Lot 1 Sundridge Subdivision (recreational) 40.00 AC . . $39,900 - Gage 391-4233 2300 North 6200 East 25.91 AC . . $390,000 - Gage 391-4233 5762 N. Aspen Way 1.21 AC . . . $18,000 - Doug 698-2770 100 North 8500 East 15.28 AC . . $35,000/ac - Doug 698-2770 3500 East 4100 North 2.00 AC . . . $99,900 - Gage 391-4233 Snowbasin Road 65.00 AC . . $1,800,000 – Gage 391-4233 |