Volume 41, Number 21

UTAHS BUSINESS JOURNAL$1.44Dec. 19-25, 2011www.slenterprise.com

THIS WEEK

Executive LifestyleBegins on page 10.

Industry Briefs Begin on page 5.

RV parts distributor to expand into

20,000 square feet

See page 3.

Woodbury toconstruct office, labin SLC's

Research ParkSee page 3.

Legal Matters

Legal Matters

Legal Matters

Legal Matters

Legal Matters

Legal Matters

Design Matters

Executive Lifestyle

Legal Matters

Staffing Matters

HR Matters

Real Estate Matters

Executive Lifestyle

Legal Matters

SLC insurancewholesaler sold toArthur J. Gallagher

Small businesses rank wealth before health for 2012

By Barbara RattleThe Enterprise Transwestern General Agency Inc., a Salt Lake City insurance wholesaler that has been in business since 1954, has been sold to Arthur J. Gallagher & Co., an Itasca, Ill.-based firm that is one of the worlds largest insur-ance broker and risk management services companies. The Utah company will retain its location at 440 S. 500 E. and all of its 30-plus employees, and is now known as RPS Transwestern, said Jeffrey Burgener, whose grandfather founded the company. Burgener now serves as area pres-ident. It was just time for us to ele-vate the organization, Burgener said of the sale, which sees

Transwestern joining Gallaghers RPS (risk placement services) group. Theyre the fastest-grow-ing general agency network in the United States right now. Well get more referral business from other RPS offices and in the future well be getting into more markets. Its a whole new step to the next level for us. Transwestern provides inde-pendent insurance agents with excess and surplus, property/casu-alty, professional business liabil-ity and other specialty insurance products and services in eight regional states. The firm special-izes in insurance coverage for

Despite a year filled with economic instability, a majority of small-business owners (72 per-cent) say 2011 was a successful year for their company and new data shows new business activity saw a boost, too. According to the latest Manta SMB Wellness Index, new business activity was up more than 12 percent in the third quar-ter of 2011 compared to the same time last year. The Manta SMB Wellness Index is a quarterly index on the state of small busi-ness released by Manta, the larg-est online community dedicated entirely to small business. The index examines nationwide data

collected from multiple business resources and takes a pulse of small-business owners on hot top-ics. Mantas latest survey polled more than 1,000 small-business owners about their feelings on the 2011 small business landscape, predictions for 2012 and how their business is impacting their per-sonal well being. The Manta SMB Wellness Index shows that while new business activity is up year over year, September saw the steep-est decline in activity in the 18 months. Moreover, theres been about a 12.5 percent decrease in

Salt Lake's RDA to buy formerDeseret Industries building

Avenues Bakery co-owner tolaunch new neighborhood bistro

The Redevelopment Agency of Salt Lake City will purchase the former Deseret Industries building in Sugar House for $1.16 million from The Church of Jesus Christ of Latter-day Saints. Agency executive director D.J. Baxter said the building, located at 2234 S. Highland Dr., could be very important to a couple of different development scenarios in Sugar House; one of those is the streetcar. The streetcar project is a high priority for Salt Lake City, South Salt Lake and the Utah Transit Authority, which collaborated on grant applications for federal funding and were successful

in obtaining $26 million in for the project, through the Federal Department of Transportation, in October of last year. As envisioned, the street car would run between and existing UTA right-of-way at approximately 2230 South between the Central Pointe TRAX station eastward toward an area between the Fairmont Aquatic Center and a former Granite Furniture freight rail corridor terminus. But we have a lot of interest from the business community in having the streetcar continue beyond that point, at least to Highland Drive and maybe even beyond, Baxter said. So were

Kathie Chadbourne stands in front of the historic future site of Avenues Bistro on Third at 564 E. Third Ave.By Barbara RattleThe Enterprise A former co-owner of Avenues Bakery, a popular eating establishment shuttered roughly five years ago due to high rent, is in the process of launching a new venture, Avenues Bistro on Third, at 564 E. Third Ave., Salt Lake City. Kathie Chadbourne said

she is going for the dream and plans to open in January. The neighborhood bistro will have 22 dining room seats and 16 counter seats in addition to patio dining during clement weather. Serving brunch and dinner seven days a week, probably from 10 a.m. to 10 a.m., Avenues Bistro on Third will feature menu items

see INSURANCE page 2

see MANTA page 2

see RDA page 2see BISTRO page 2

such as artichokes filled with scrambled eggs and topped with black truffle, Basque-style tortillas with sardines, praline french toast made with challa bread, an egg, bacon, lettuce and tomato sandwich, plus shrimp, steak, lamb and wild salmon. Many of the bistros menu items will be served tapas style, on small plates. The eatery has a full liquor license. Everything will be house-made. Chadbournes chef is Miguel Rivas, who has practiced culinary arts in San Francisco. A major emphasis will be placed on buying local, and the bistro will have its own herb and vegetable garden chickens, Chadbourne said. Our space is absolutely fabulous, she said. The building is over 100 years old. We have an open kitchen, everything is open. There is a chefs counter with turn-of-the century Currier & Ives tile that is original to the building. The structure was formerly home to Good Day Bakery. An approximately 600 square foot wall will be festooned with photographs of food from all over the world, shot largely by local photographers. The ambience will be true

to Utah, Chadbourne said. Im using colors like globe mallow, which is my favorite desert flower here in Utah, and silver sage on the walls. Were staying true to the original tile on the outside of the building. Ive brought in Craftsman style for the entrance. My focus is staying true to Utah. I love Utah, love living in Utah and supporting local artisans. Avenues Bistro on Third will also be a green restaurant, she said. Were not going to have a Dumpster outside; were going to be very eco-friendly. Were not going to be using chemicals, well use hot water. Well have compost that goes right into our garden. Well recycle everything. Were going to have a recycle station outside. Chadbourne said the goal is for the bistro to be 100 percent wind-powered. Chadbourne said the venture is being financed by a pair of silent investors theyre not even charging me interest and by Chadbourne herself, who sold her Navajo rug collection and will sell her car in order to get the bistro off the ground. Im very grateful and appreciative of being in Salt Lake City, because I believe there is a food revolution happening here and I get to be part of that,

she said. I would never serve something that I wouldnt eat. I eat very simple, basic prepared foods. I believe that you take it from the ground and you put it on the table and food should take like food. I also believe wholeheartedly in sustainability and local and saving our planet. Avenues Bistro on Third will not have any parking spaces. Its a walkable, cool, wonderful neighborhood to be part of, said Chadbourne, who resides in the Avenues. When I went around and visited with all the neighbors after I signed the lease, I introduced myself and told them about what the plan was, and in less than six weeks Ive had over 200 people stop by, say hello and welcome me back to the neighborhood. Its been so awesome. I am beyond thrilled to be here. My kids are grown and I get to do what I want. Im bucking up and going for the dream and doing whatever it takes.

new business activity in Q3 com-pared to Q2. Alaska, Utah and Oregon had the sharpest declines in activity year over year, while Wyoming, Colorado and Arizona had the biggest boost in business activity in Q3, as well as the most gains year over year. But that success has come with a price for many small-business owners. Almost half of respondents (44 percent) say this years business climate has taken a toll on their personal health one in three say they work out less, 22 percent say theyve gained weight and 14 percent say they are more short-tempered and argue with family and co-workers. In addition, Mantas survey found that most small-business owners (63 percent) averaged more than 40 hours a week at work, while nearly one in 10 report their aver-age work week was upwards of 70 hours. Life away from the office, however, has been brighter for small-business owners this year 45 percent say their business has had a positive impact on their personal life. Small-business owners say theyre happier (31 percent), have more time for fam-ily and friends (15 percent) and even report that their marriages have improved (8 percent). Pamela Springer, president and CEO of Manta, said the sur-vey shows that 90 percent of small-business owners are opti-mistic about their companys growth in 2012. Looking ahead, 70 percent of respondents think the small business economy will improve next year. Thats not surprising, since a majority of small business owners (62 per-cent) rank growing their business as their top New Years resolution ahead of improving relation-ships with their family, working out more and eating healthier.

2 The Enterprise Dec. 19-25, 2011

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looking at a variety of options for initially getting to Highland Drive and where it ought to go after that. This is potentially a critical piece of property for making that work well. The RDA probably wont demolish the building any time soon; estimated cost to do so is roughly $150,000. There are a number of studies in the works that will give us more information about which portions of that property we need for public spaces, Baxter said. Once we complete those studies and know more about how the property might be configured, when well make a decision on what to do with the building.

high-net worth individuals and the transportation industry. TGAs strong sales culture has been focuses on a team-based approach to service excellence, which makes them an outstanding merger partner, said J. Patrick Gallagher Jr., chairman, president and CEO of Arthur J. Gallagher & Co. They also have superior carrier relationships that are so important when placing difficult risks for their broker clients. Arthur J. Gallagher & Co. has operations in 16 countries and offers client-service capabili-ties in more than 100 countries around the world through a net-work of correspondent brokers and consultants. It provides a full range of retail and wholesale property/casualty brokerage and alternative risk transfer services globally, as well as employee benefit brokerage, consulting and actuarial services. Gallagher also offers claims and information management, risk control con-sulting and appraisal services to clients around the world

Salt Lake City-based ZAGG Inc., a leading mobile device accessories company, has appointed board of direc-tors member Randall Hales as president and COO. Hales will be responsible for overseeing operations and customer service at ZAGG, as well as the iFrogz division. Hales retains his board seat but will no longer serve as the chair of the audit committee. Most recently, Hales served was the CEO of Mity Enterprises, a furniture systems manufacturer with worldwide sales and opera-tions. Hales managed the pri-vately held venture with more than 250 employees from 2007-2011, and was recognized in both 2009 and 2011 as the Utah Manufacturer of the Year. Hales served as the CEO and president of Back to Basics Inc., an award-winning kitchenware company that was recognized by the Ernst & Young Entrepreneur of the Year in 2004, and held Inc. 500 recognition in 2003, 2004, and 2005. Back to Basics was sold to Focus Products Group LLC in 2007.

Randall Halesnamed president andCOO of ZAGG Inc.

The EnterpriseDec. 19-25, 2011 3

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RV parts distributor to expandinto 20,000 square feet

Woodbury Corp. to construct newbuilding, lab in Research Park

By Barbara RattleThe Enterprise Prime Source Wholesale Distributors, a local wholesale distributor of parts for recreational vehicles, is in the process of expanding from 5,000 to 20,000 square feet. Currently located at 2921 Parkway Blvd., the firm is in the process of moving into newly leased quarters at 1912 S. 4870 W., Salt Lake City, according to Mark Hult, general manager of the approximately 10-year-old company. The new location gives us the ability to service our customers better, he said. We sell to RV dealers and retailers of RV parts and it will allow us a lot more room to stock product and accommodate increased business. Our current location is really a redistribution point product comes in and we send it out right as we get it. This new warehouse will give us a lot more ability to stock product and have it on hand so we can service people more quickly. While many consider RVs to be a luxury item, Hult said the recession has affected even those

with the resources to own and operate an RV. People are not buying new rigs as much and theyre usually fixing up their old stuff, and thats where we come in, Hult said. There are a lot of people doing repairs or fixing up the old ones they have. Were not breaking any sales records, but were growing, which in this economy is pretty ... knock on wood. Prime Source wholesales an array of parts for RVs, travel trailers, utility trailers, boat trailers and fifth wheels. It has a staff of four; Hult said he plans to hire an additional three people by mid-January. The companys market is regional. Prime Sources owners also operate State Trailer Supply, a retail RV parts operation at 3600 S. Redwood Road. Its 26,000 square foot store carries more than 15,000 products, from windows and doors to refrigerators and air conditioners to axles and tires, Hult said. The firm leased its new location with the assistance of Bob and Josh Mills of Commerce Real Estate Solutions.

Woodbury Corp., Salt Lake City, plans to break ground in the spring for a 60,000 square foot office and laboratory building at 630 Komas in Research Park, Salt Lake City. Fifty percent of the structure has been pre-leased to Blackrock Microsystems, which already has a presence in Research Park, said Woodbury Corp. project manager Luke Woodbury, who designed the three-story building. It will be constructed primarily of brick and EIFS (exterior insulation and finishing systems, a type of building exterior wall cladding system that provides exterior walls with an insulated finished surface and waterproofing in an integrated composite material system.) Construction should take eight to 12 months. A contractor

has not yet been selected, but Woodbury said conversations are under way with several firms. Woodbury Corp. will lease the now-vacant land on which the structure will be built all buildings in Research Park rest upon property owned by the university and will thereafter own and operate it. Woodbury Corp. has developed several other buildings within the park. Blackrock Microsystems, founded in May 2008, draws on high-tech innovation that began with Bionic Technologies, a spinoff from the University of Utah in 1997. Blackrock provides enabling tools for the neuroscience, neural engineering and neuroprosthetics research and clinical community worldwide.

A computer rendering of the 630 Komas building.

Mity-Lite Inc., an Orem-based manufactur-er of durable, lightweight folding tables and chairs, has appointed John Dudash as its CEO and president. He succeeds Randy Hales, who leaves Mity-Lite to serve as the COO and president of ZAGG Inc.

Having served as Mity-Lites executive vice pres-ident of sales and market-ing since October 2010, Dudash has led Mity Lites continued sales growth. Dudash has more than 28 years of senior level executive experience with a strong emphasis in driv-ing market share, revenue,

and profit growth for domestic and international operations. Prior to joining Mity-Lite, Dudash served as either chief executive officer or executive vice president for several compa-nies and divisions with outstand-ing results, including Atlantic Luggage Co., Illume Candle Co. and Sanford Corp., a Newell Rubbermaid division.

John Dudash appointed CEO, president of Mity-Lite Inc.

Dudash

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ARTS/ENTERTAINMENT Ballet Wests fourth-annual version of The Nutty Nutcracker will be held Dec. 30 at 7 p.m. and Dec. 31 at 2 p.m., featuring a sports theme. In years past, The Nutty Nutcracker has featured cameo appearances from Waldo of the Wheres Waldo? books, KSL meteorologist Kevin Eubank in the ballets opulent Snow Scene, a rubber chicken in place of the traditional Nutcracker doll, and a pesky bumblebee in The Waltz of the Flowers, and much more. This year, Nutty Nutcracker patrons will enjoy jersey-clad Nutcracker characters, familiar sports ideology and nods to play-ers and teams alike. Performances will be at the Capitol Theatre in downtown Salt Lake City. Guests are invited to Ballet Wests Sports Night at the Ballet prior to the evening performance on Dec. 30. It will consists of a family-friend-ly and affordable dinner highlight-ing sports programs, athletes and sports personalities in Utah and will take place at the Hilton Hotel. Cost is $10 for adults, $5 for children. Immediately following the tailgate party, guests with per-formance tickets will walk across the street to the Capitol Theatre to enjoy The Nutty Nutcracker. For tickets to Sports Night, contact Ashlee Christofferson at achristofferson@baleltwest.org or (801) 869-6917. Tickets to Ballet Wests Nutty Nutcracker start at $19 and are available through ArtTix www.arttix.org.

ASSOCIATIONS The Utah chapter of the Society for Marketing Professional Services has chosen the 2011 winners of its annual Marketing Communication

Awards that recognize the years best marketing efforts by market-ing professionals serving Utahs architecture, engineering and construction (A/E/C) industry. MHTN Architects won in the Best Website category. Michael T. Buell of MHTN Architects, was named Marketer of the Year. General contractor R&O Construction won first place in the collateral/give-away cate-gory. BHB Structural Engineers won in the Best Campaign category for its technical e-mail marketing campaign. Shana Yonemura of ARW Engineers was honored with Rising Star of the Year award.

BANKING Capital Community Bank has named Scott Nicholls manag-er and mortgage loan officer at its

Orem office. Previously, he was a district manager at World Savings Bank in Meridian, Idaho and as a business development manager at IndyMac Bank, in Boise. He holds B.S. in business manage-ment from Utah Valley University and with a masters of accountancy from the University of Phoenix. COMPUTERS/SOFTWARE Salt Lake City-based inQuo, a company that helps local businesses and home users with their technology needs, has made a donation to Utah Health and Human Rights, a local nonprofit organization that provides coun-seling, case management services and support to refugees who have fled torture in their home countries. inQuo presented Utah Health and Human Rights with five recycled computer stations, complete with tower, monitor, mouse, keyboard and printer. UHHR will then give four computers to refugee families to help with educational needs and job hunting, and keep the fifth work station in their office to offer immediate Internet access before and after appointments.

CONSTRUCTION MHTN Architects, Salt Lake City, has been named one of the countrys Best Firms to Work For by ZweigWhite. MHTN ranked seventh overall in the nation. The ZweigWhite Best Firms to Work For ranking is based on comprehensive evalua-tions of firm culture, workplace

practices, employee benefits, employee retention rates, profes-sional development, and more -- both from the management and staffs perspectives. All firms that apply are evaluated against each other, not a set standard. The Mountainlands Area Plan Room, a local resource for those in the construction industry, has acquired the ser-vices of National Directory

Publisher VillageProfile.com to produce a soon-to-be-annual MAPR Membership Directory. Thousands of copies are expect-ed to be distributed to firms in the industry not only in Utah but regionally and online. FMI, the largest provider of management consulting and investment banking to the

Dec. 19-25, 2011 5The Enterprise

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Ground is scheduled to be broken in January for the first phase of Meadows at Riverbend, a 69-unit townhome community to be located at 21st Street and Washington in Ogden. South River LLC is the developing entity. Members of the LLC are Scott Sauric of Elite Building Group, which will act as general contractor, and Blaine Walker of Walker & Co. Real Estate. Walker said the first of three phases will consist of 15 units. Infrastructure is already in place. The project area consists of about four acres. The townhomes will range in size from 1,300 to 1,700 square feet. Walker said pricing has yet to be finalized. Kevin Scholz designed Meadows at Riverbend.

Ground to be broken for Ogdentownhome project

W.W. Clyde & Co.names Jeff Clydepresident W.W. Clyde & Co., Springville, will promote Jeffrey R.Clyde to president effective Jan. 1. He was formerly vice president of the heavy/highway division for the company, which is a leading supplier of construction materials and construction services in the Intermountain area. Clyde replaces Albert Schellenberg, who is retiring after serving in several key roles in the organization for almost 40 years. Schellenberg joined Geneva Rock, another subsidiary of Clyde Companies, in 1972 after receiving his bachelors degree in civil engineering from Brigham Young University. A fourth generation family member, Clyde brings significant industry experience to his new position. He earned a bachelors degree in construction manage-ment at Arizona State University and has been building projects in the area for more than 20 years.

Industry Briefs

continued on next page

6 The Enterprise Dec. 19-25, 2011

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engineering and construction industry, has released its 2012 U.S. Markets Construction Overview, offering insight into some of the engineering and construction industrys most complex business challenges. This publication focuses primarily on the U.S. domestic construction market, which is also a lagging reflection of the countrys economic health. The broad picture is not dramatically different from last year. A few highlights include (1) the move to a greater use of P3 (public-private partnerships) project funding will be slow, but will begin to gain traction in the United States; (2) demographics continue to drive demand for health care, education and improving infrastructure; (3) spending for government construction is expected to decline as budget battles continue to rage in Washington and spill over to every state in the nation; (4) sustainable or green construction will drive demand for LEED-certified buildings; (5) innovation is driving efficiencies in multi-trade prefabrication and modularization construction; and (6) as the baby boomers age out of the workforce, many firms will face succession and transition challenges. Rhys Weaver will be promoted to executive vice president of Clyde Companies Inc., an Orem-based heavy highway construction firm, at the end of the year. Weaver was formerly a vice president at the company. Weaver will continue as president of Sunroc Corp., a subsidiary of Clyde Companies. Scott Okelberry, who has been serving as vice president of the Special Projects Division at W.W. Clyde, a Springville-based supplier of construction materials and services in the Intermountain area, will become executive vice president and COO of the company at the end of the year. He earned a bachelors degree in construction management and an MBA from Brigham Young University. He has worked as an estimator and project manager and is currently

the chairman of the Highway Committee of the Utah chapter of Associated General Contractors. CraCar Construction, West Valley City, has been selected by the Utah Transit Authority to build the Orem Intermodal Center. The approximately $3.9 million project will consist of a park-and-ride facility on approximately eight acres. EDUCATION/TRAINING Alexandra Hesse has been promoted to the position of execu-tive director of The Leonardo, a Salt Lake City museum connecting science, technology and creativ-ity. Hesse joined The Leonardo in 2006 to oversee development of the museums exhibits, pro-grams and visitor experience. Previously, Hesse held manage-ment roles with the Salt Lake and Sydney Olympic organizing committees, as well as the Stills Gallery in Sydney, Australias foremost multimedia art and con-temporary photography gallery. The first class of graduates from the Bachelor of Science in Nursing at Roseman Universitys South Jordan campus achieved a perfect 100 percent pass rate on the NCLEX-RN examination. A report from the Utah State Board of Nursing shows that among nurs-ing programs in Utah, the 2011 passing rates for the NCLEX-RN exam ranged from 67.69 percent to 100 percent, with an average of 88.36 percent. Utah Valley University provides a return of $7.97 for every state dollar invested for an annual economic impact of $534 million, according to a recently concluded study by Jack Faucett Associates Inc. UVUs return on investment to the states econ-omy has increased by 21 per-cent over the past five years. Of the more than half-billion dollars UVU contributes to Utah each year, $458.7 million is concen-trated in the institutions service region, which is comprised of Utah, Summit and Wasatch coun-ties. UVUs value-added impact which subtracts inputs from total economic output is about $374 million annually, based on a return of $5.58 per state dollar invested, with $333 concentrated in the Universitys service region. GOVERNMENT The IRS has closed its counter that has been located at the Utah State Tax Commission, 210 N. 1950 W., Salt Lake City. IRS customers can visit the office at 50 S. 200 E., Social Hall Avenue in Salt Lake City. The U.S. Environmental Protection Agency has awarded $25,000 each to The Repertory Dance Theatre and the Utah Society for Environmental Education to address environ-

from previous page

continued on page 8

Most companies have their year-end approach-ing, which means budgeting time. Typically bud-gets are prepared to set expectations for operating results and, correspondingly, earnings. However, many companies fail to consider their cash-flow and capital expenditures. These can cause significant heartache to an organization that would otherwise be on a smooth course. With the economy still crawling along, many companies have foregone investments in capital improvements for several years, and projects are starting to move from nice to have to critical. The good news is that banks are flush with cash and interest rates are at all-time lows. The bad news is that many banks are not lending. This leaves finance departments struggling to find ways to take advantage of cheap funds to move ahead with needed capital projects. In addition to stress caused by lenders, other concerns such as regulatory require-ments, tax rules and accounting changes are making the horizon more difficult to discern. The following factors should be considered when evaluating options for capital expenditures. This list is not intended to be comprehensive, but food for thought.

Interest Rates Interest rates have been consistently low for over three years and are forecast to stay at historically low levels for at least the next year. As the economy improves, however, these rates, particularly the long-term rates, will creep up. This will lead to increased overall cost of capital investments in the future and drives value to companies to invest today.

Tax Rules In an effort to stimulate the economy the gov-ernment will, at times, allow for capital investments to be fully depreciated for tax purposes, which can result in significant savings. The current bonus depre-ciation of 100 percent expires Dec. 31. However, 50 percent bonus depreciation is still in place through 2012. Discuss the pros and cons of such rules with

your tax accountant to see whether they will benefit your organization.

Leasing One of the biggest hurdles to capital improve-ments is the cash outlay. Leasing is an option that can significantly reduce up-front cash requirements and allow for smaller monthly payments. Depending on whether the lease can qualify, this option can also

reduce the balance sheet impact of asset additions by classifying them as operating leases. This option may help companies meet leverage ratios or other balance sheet covenants imposed by lenders. However, it also impacts an organizations ability to realize any tax benefits and should be evaluated accordingly. Also, proposed accounting changes may impact the value of leases in the future as a means of man-

aging the balance sheet. Check with your accountants to determine whether these changes will impact your companys financial statements.

Other Regulatory Impact Environmental or other regulatory requirements impact certain industries and can have a significant role in the timing of capital investments. For instance, in the transportation industry, changes to emissions requirements for heavy trucks may accelerate new equipment acquisitions because of the cost they add to both the purchase price, as well as ongoing opera-tions. Since these can be very industry-specific it is important to stay abreast of proposed changes and evaluate how these might impact your company.

Boyd Hunter is a certified public accountant and is the CFO of TAB Bank in Ogden. He participates in the strategic planning functions of the bank as well as oversees the accounting, financial analysis and risk management functions of the bank. TAB Bank pro-vides custom working capital solutions accounts receivable financing, lines of credit, equipment loans and asset-based loans to transportation and non-transportation companies in all stages of business life cycles during any economic conditions.

Capital expenditures and improvements when is a good time and what should be considered?

Boyd Hunter

Dec. 19-25, 2011 The Enterprise 7

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mental justice issues nationwide. The Repertory Dance Theater uses the arts to educate Salt Lake City youth about the impacts of air pollution. The organization will conduct Arts/Environmental Residency Programs in K-6 schools in the west and cen-tral areas of Salt Lake City and will use the arts to help students understand the impacts of air pol-lution on the environment and their health. The Utah Society for Environmental Education will create a waste recycling program for residents of Rose Park com-munity. The Internal Revenue Service has issued the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2012, the standard mile-age rates for the use of a car (also vans, pickups or panel trucks) will be 55.5 cents per mile for business miles driven, 23 cents per mile driven for medical or moving pur-poses and 14 cents per mile driven in service of charitable organiza-tions.

HEALTH CARE Salt Lake Regional Medical Center is the first in Utah and one of the first medi-cal centers in the United States to offer patients the first and only chronic pain treatment that leverages motion sensor tech-nology found in many consumer electronics, such as smartphones and computer gaming systems, to provide effective pain relief and convenience to patients suffering

from chronic back and/or leg pain. Steven Pulley, M.D., a member of the medical staff at Salt Lake Regional, is the first surgeon in Utah to implant in a patient the new Medtronic AdaptiveStim with RestoreSensor neurostimula-tion system following its recent approval by the Food and Drug Administration. Jordan Valley Medical Center and Pioneer Valley Hospital now offer CT scans that deliver significantly less radiation to patients than stan-dard CT scans. The Philips iDose CT (computed tomography) scan-ners at Jordan Valley and Pioneer Valley benefit patients by creat-ing detailed, 3-D cross-sectional images of certain parts of the body such as soft tissues, the pelvis, blood vessels, the lungs, the brain, abdomen, and bones which help physicians on the medical staff to diagnose illnesses and plan treatments. According to the man-ufacturer, Philips iDose enables up to an 80 percent reduction in radiation dose while maintaining diagnostic image quality.

HUMAN RESOURCES Employer Solutions Group (ESG), Provo, has named Daryl Sisk vice president of sales. Sisk has more than 15 years of experience in sales management and training, human resources consulting, benefits administration, marketing and public relations. He most recently worked as chief sales officer at Corporate Alliance and has a strong focus on building and maintaining successful client relationships. In addition to his experience, Sisk has a masters degree in organizational management.LAW Ryan L. Marshall has been named a shareholder, effec-tive in January 2012, of the intel-lectual property law firm Brinks Hofer Gilson & Lione. Marshall practices in the Chicago-based firms Salt Lake City office and has substantial experience in the chemical, pharmaceutical and bio-chemical arts, and counsels clients and prepares opinions relating to patentability, invalidity, infringe-ment and enforceability issues. Steve Gordon has joined Wrona Law Firm, Park City, as a senior member of the firms liti-gation team. A Park City resident since 1995, Gordon is a seasoned litigator who joins Wrona Law Firm from the Salt Lake City firm of Durham Jones & Pinegar, where he was a partner. Gordon earned both his undergraduate and law degrees from the University of Utah. He has significant expe-rience in both trial and appellate practice, with expertise in civil litigation, employment law, con-tract and business law, as well as dispute resolution.

from page 6

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MANUFACTURING Derek Smith has been pro-moted to chief marketing officer at ZAGG Inc., a Salt Lake City mobile device accessories firm, effective immediately. Since join-ing ZAGG as vice president of sales in 2007, Smiths primary responsibilities have included retail sales management, market development and product develop-ment.

MEDIA/MARKETING Michael Rudd and Danielle Nelson join Provo-based integrated marketing agency The Walton Group Inc. as its newest account executives. Rudd, a Boise native, is a senior at Brigham Young University studying adver-tising. He has more than 10 years of work experience. Nelson, from Fresno, California is also a senior at Brigham Young University, studying public relations. She is currently a volunteer for a non-profit organization focusing on assisting underprivileged children in Africa. Three-year-old West Virginia-based WELD, a

marketing company specializing in the Web, has opened an office in Park City. WELD counts as clients organizations such as the Boy Scouts of America, ACE Adventure Resort, OARS and Yakima.

OUTDOOR PRODUCTS/RECREATION Cadillac has been named the official vehicle of the Deer Valley Resort. Cadillac, which has produced luxury automobiles since 1902, will provide a fleet of more than 30 of its Escalade and SRX models to serve as guest transportation shuttles and marketing vehicles for the next three years. Forty years of Snowbird history are being celebrated this month with a Birthday Bash and Snowbirds annual Summit Gala. The Birthday Bash will take place on the same day Snowbird opened in 1971, Friday, Dec. 23 from 2 p.m. until 5 p.m. on the Plaza Deck. Snowbird will offer $40 lift tickets for the day, as well as food and beverage specials. The celebration will include a hula

hoop contest and prizes for the best 70s costume contest and for the Snowbird guest with the most Snowbird season passes. DJ Knucklz will be spinning 70s music, and guests may enter a raffle drawing. The Summit Gala will take place Wednesday, Dec. 28, at 5:30 p.m. Snowbirds founders, Ted Johnson and Dick Bass, will speak during dinner, and live music will be provided by Imagine: The Beatles Tribute Band. Another highlight of the evening will be the presentation of a new video called

Hatching the Bird, documenting the opening of Snowbird. Tickets to the Gala cost $125 per person, or $1,000 for a table of 10. Proceeds will benefit the Cottonwood Canyons Foundation, Snowbird Sports Education Foundation and Wasatch Adaptive Sports. Tickets can be purchased at https://store.snowbird.com/gala/. REAL ESTATE Salt Lake City commercial real estate brokerage Commerce

Real Estate Solutions, has named Mary Street, a member of the Commerce team for the past six years, as branch manager of its Utah County office in Orem effec-tive Jan. 1. The full-service branch houses 21 Commerce brokers. Street has 16 years in real estate sales and leasing. Park City-based Showhomes Home Staging, a national home staging service that uses live-in home managers to help stage and care for vacant homes for sale,

Jean John Vice President Administration First Utah Bank

continued on page 12

The Enterprise Dec. 19-25, 201110

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INLAND WESTERNRetail Real Estate Trust, Inc.

Three notable business booksfor holiday time reading (Editors note: Each month Jack Covert, founder of 800-CEO-READ, reviews the best recently released business books. Jack is coauthor of The 100 Best Business Books of All Time, released in March of 2009. 800-CEO-READ is a leading direct supplier of book-related resources to corporations and organizations worldwide, and specializes in identifying trends in the changing business market.)

Masters of Management: How the Business Gurus and Their Ideas Have Changed the World For

Better and for Worse By Adrian Wooldridge,

HarperBusiness464 pages, $29.99, Hardcover

Just from the title alone, you can tell that Masters of Management is a bit softer in tone than the book it revised and updated a classic, The Witch Doctors by John Micklethwait and Adrian Wooldridge, released in 1996. Micklethwait, now the editor-in-chief at The Economist, bowed out of this updated version, but Wooldridge carries the torch forward to cover the rise of the Internet, globalization, the explo-sion in entrepreneurship and the ever-expanding field of manage-ment and leadership literature. It is also the first compre-hensive documentation of how the management field has transformed civil society and government for better and for worse in the last few decades. For instance, attempting to reward public ser-vants whose initial motivation is working for the public good with incentive-based pay has proved to be somewhat disastrous in its results, while devolving power from central governments to local public servants has been a boon for efficiency. Though its title empha-sizes the positive over negative, Masters does not pull its punches and its critiques of management theory and its gurus are as fair and sober as youll find anywhere. When Wooldridge does go nega-tive, he does so through surrogates

by quoting prominent thinkers on the less savory characters in the field, such as: The late Peter Drucker liked to quip that people use the word guru only because they cannot spell charlatan. And: Never have so many labored for so long to say so little, was [Warren] Benniss waspish verdict on the leadership literature. This book is such even-hand-ed look at management theories and literature, and their imple-mentation in the real world, that I couldnt pass it by, though it almost does my work for me in sifting through the genre. It is a guide to everything management theory has produced the good and the bad, the whirlwind of theories, jargon and gurus that propagate the literature and it comes out of that mineshaft holding a glittering handful of gold nuggets that will make your decisions about where to look for guidance much wiser and more refined. Master of Management belongs on the shelf of every man-ager in the country.

Screw Business as Usual By Richard Branson, Portfolio384 pages, $26.95, Hardcover

By the time you get to page four of Richard Bransons Screw Business as Usual, you will have already been treated to stories of Kate Winslett saving his mother from his burning home on Necker Island literally carrying her soot-faced down the stairs as the fire raged behind them and dis-cussing the state of the world over dinner with the Queen and Barack Obama at Buckingham Palace. (And, to apologize for name-drop-ping, he shares a joke told to him by Archbishop Desmond Tutu.) So, right away, youre under no illusion that Richard Branson lives a life similar to yours, but the book makes it very clear that we all live on the same planet. Though hes far from what most of us would find to be ordi-

What's happened to cruise ships?

They are like sailing cities, these recently built mega cruise ships so big they cannot go through the Panama Canal, and there are dozens of them. The biggest of them all are run by Royal Caribbean International, also by far the most popular cruise line among Americans, namely, the Allure of the Seas and the Oasis of the Seas. These two ships measure over 225,000 gross tons and transport 5,400 passengers apiece. The next largest would be Norwegian Cruise Lines Epic at 156,000 gross tons with a passen-ger capacity of 4,100. These ships are destinations! Never mind the shore excursions, you could spend a week or two on

one of them and never exhaust the lists of things to do, places to go and stuff to see. Consider Royal Caribbeans two Oasis-class ships, where you

can enjoy onboard recreational, athletic and entertainment activi-ties organized into seven themed areas called neighborhoods. Theres the Entertainment Place neighborhood; the Youth Zone with science lab and computer gaming; Royal Promenade featuring res-taurants and shops viewable from a mezzanine; Boardwalk which features a handcrafted carousel, restaurants, bars, shops, two rock-climbing walls, and a temporary tattoo parlor (its outdoor 750-seat AquaTheatre hosts the ships larg-est freshwater pool); Vitality at Sea Spa and Fitness Center with a spa for teens; The Pool and Sports Zone that features a sloped-entry beach pool and two surf simula-tors; and last but not least, Central

Don Shafer

see SHAFER page 12

The EnterpriseDec. 19-25, 2011 11nary, Bransons message in the book reinforces the sometimes-overlooked knowledge that we can each contribute to, create and hasten change, and that doing good is good for business. In doing so, he champions the every-day: [The] power of the ordi-nary, everyday person to become entrepreneurs and change-makers to set up their own businesses, to seek their own fortune and be in control of their own lives, to say screw business as usual, we can do it! We can turn things upside down and make a huge dif-ference. There have been many moni-kers for this idea, but Branson has come up with his own, Capitalism 24902, explaining: Every single business per-son has the responsibility for tak-ing care of the people and planet that make up our global village, all 24,902 circumferential miles of it. The book is a chronicle of those who have done just that, and theres a lot of good news to proselytize. Instead of ignoring the bad news, he shares stories of small enterprises like food retailer Jempsons and Finisterre clothing company excellent examples in terms of what theyre doing in local food sourcing and fabric innovation, but also because most of us have never heard of them, which makes the stories fresh and accessible, and their successes seemingly achievable. The book is chock full of these small busi-ness victories and the successes of acting responsibility, stories of doing well by doing good, and demonstrates once again that Branson has a firm finger on the pulse of the entrepreneurial world. Situations Matter: Understanding

How Context Transforms Your World

By Sam Sommers, Riverhead304 pages, $25.95, Hardcover

It is raining out, and you are in a rush. You back into the only open parallel parking space you can find on your third trip around the block. You misjudge the dis-tance between your bumper and that of the car behind you. You nudge the other car, but think little of it because, after all, that is what bumpers are for. You finish park-ing, get out of your car, and make a dash toward the store to stay as dry as possible. To your surprise, the owner of the vehicle, who was still behind the wheel, chases after

you, says you damaged her car, demands restitution. What do you do? Sam Sommers, author of Situations Matter, would tell you it depends. What kind of day did you have at work that day? Is there anyone witness-ing your interaction? Are you a man or a woman? Our emotions and personalities change within very complex, high-demand and high-stress situations. Often, the times were really called to the test, when we need to be think-ing, deciding and reacting with the best of our ability, we give in to elements within (and outside of) the situation and instead show our weaknesses. While this may seem obvious, Sommers book will show you why you do what you do. As the books prologue states: This book will take you down a less-traveled, often sur-prising, and sometimes discon-certing road of human experi-ence, refocusing your attention on the ordinary situations that have extraordinary effects on how we think and act. Research shows us that the context impacts even the most intimate aspects of our lives, and this conclusion offers to those who embrace it insight as well as competitive advantage. Although, as the author states, this isnt a self-help book, with this insight into human nature, we might be able to think about situational factors in advance, and mold our reaction to them, or even control their occurrence, before we do or say something we wish wed done differently in hindsight. As much Seinfeld as sci-ence, Situations Matter is a great book to start a new year on, when we look to make improvements in our lives, our work and our treat-ment of those around us.

The Enterprise Dec. 19-25, 201112

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Park, with boutiques, restaurants and bars, including access to the Rising Tide bar, which can be raised or lowered between three decks (its the first living park at sea with over 12,000 plants and 56 trees). These huge vessels have pic-ture-window and balcony cabins not only on the outside looking onto the ocean, but on the inte-rior facing the various neighbor-

hoods. You can enjoy many enter-tainment options, including full Broadway productions (shows like Chicago), rock climbing, surf-ing, a zip line, mini-golf, multiple nightclubs, several bars and loung-es, a karaoke club, comedy club, five swimming pools, volleyball and basketball courts, the theme parks, nurseries for children and 22 dining options, which include a Johnny Rockets restaurant and a Starbucks coffee shop. The amazing thing to me is, with the inhabitants of a fair-

sized town, how quickly you can disembark for a shore excursion. When the Oasis made its maiden voyage with more than 6,000 pas-sengers (several cabins held more than two people), it took only 15 minutes for each traveler to get from arrival at the dock to his or her room. Norwegian Cruise Lines, on the subject of dining options, is the company that pioneered what they call free-style cruising. Its Epic offers 20 different dining options. No longer must passengers choose

between a first or second seating in a single large dining room. All of NCLs ships over the past dozen years were designed with many restaurants onboard, offer-ing Japanese, Chinese, Italian, French and ethnic foods, as well as a steak houses, seafood restau-rants, burger and pizza shops, and, of course, a huge buffet. The Epic has the only rap-pelling wall at sea, bowling alleys, batting cages, a 24-foot high Spider Web to climb, and a complete water park that features extreme twisting water slides including the EPIC Plunge (it drops 200 feet before you spin through a vortex and into splashdown lane). This ship offers nine entertainment options nightly, which feature major touring entertainers like the Blue Man Group and The Second City comedy improv. And heres a note of Epic proportions for anyone traveling as a single: they have studio cabins for solo travel-ers. Just think, no more single-supplement if you want to travel sans roommate. If you are a high-end travel-er, these towns-on-the-ocean have

high-end places to stay. The Epic offers villas that are so private you and your neighbors have your own elevator, pool, gym, bar and res-taurant, plus butler and concierge services. At minimum, this smacks of a J. W. Marriott on water. Heres a fantastic fact: All of these monster ships are sailing the Caribbean this winter, and lead prices for a week on the Epic are as low as $599 per person, $779 for the Oasis of the Seas. I havent done it yet, but cruising on one of these super ships is now definitely on my to-do list. In fact, it sounds like something I should do for your benefit. Then I could report back at a later date, after my fact-find-ing tour is fully complete.

Don Shafer has been hosting radio travel shows in Salt Lake City for more than a dozen years, and was taught everything he knows by travel experts he has interviewed. Although some have called him The Travel Doctor, he holds a Ph.D. in a totally unrelated field, religion.

SHAFERfrom page 10

has earned a Net Promoter score (NPS) of 64 percent compared with the average U.S. companys score of 15 percent. NPS measures customer loyalty by asking the customer a key question How likely are you to recommend us to a colleague or friend on a scale of 0-10, 10 being the highest? Showhomes Home Staging has 75 franchises in 24 states and was founded in 1986.

RETAIL City Creek Center, the new shopping and dining destina-tion rising in the heart of down-town Salt Lake City, will host a charity gala and shopping event on March 21, 2012, from 6:30 p.m. to 9:30 p.m., the night before the centers official grand open-ing. Tickets are now on sale, ben-efitting four local charities. The approximately 700,000 square foot shopping center, with nearly

80 stores and restaurants, will host an evening of live entertainment, food and drink crafted from local ingredients and an opportunity to shop and preview the centers stores, which will open for the event. Tickets can be purchased for $50 directly from the ben-efitting charities, which are Ballet West, The Road Home, Utahs Hogle Zoo and The Junior League of Salt Lake City. A recent study of con-sumers online and mobile pur-chasing attitudes conducted by Javelin Strategy & Research and PaymentOne found four out of five consumers would spend more online if offered an easier and more secure way to pay. The survey also found that by a margin of almost four to one, consum-ers believe direct carrier billed mobile payments are more secure than using credit and debit cards for online digital purchases. How much more would consumers spend if they didnt have to share their sensitive personal data or type in a long credit card number to complete their purchase? The Javelin survey finds that online merchants could add aggregated yearly revenue of $109.8 billion, simply by offering an alternative no credit card required way to pay at checkout. Conducted this fall, the 2011 Consumer Payment Poll revealed that consumers have dramatic and growing concerns about the safety and privacy of using credit or debit cards for online transactions. More than half of consumers surveyed admit-ted to abandoning online purchas-es at check-out because of these concerns, confirming a huge loss in potential revenue for online

from page 9

continued on page 16

The EnterpriseDec. 19-25, 2011 13

Stems Inc.

Providing real change not just spare change since 1993

Costs are approximate, include operation expenses and may be used forprograms to help the homeless throughout the year. We never sell your name.

Name __________________________________________Address ______________________________Apt._______City/State/Zip____________________________________If Credit Card, #Exp. Date: ________ Signed:

A good meal is often the first step to a new life! You will receive a tax-deductible receipt.

Please mail your gift today!

Please Help UsThis Christmas!You can give a delicious Christmasdinner to a Hungry and Needy Soul

for $1.83!Salt Lake City Mission will serve delicious ham or

turkey, yams or dressing, mashed potatoes withgravy, vegetables, a roll, a big piece of pumpkin pieand a drink. Your gift will also provide a gift for achild, clean clothes, hygiene kits, life skills,education, employment opportunities, counselingand so much more to the needy. We expect to serveover 15,000 meals this 17th Annual Holiday Season.

Salt Lake City MissionP. O. Box 142

Salt Lake City, UT 84110-0142

$18.30 provides for 10 hungry souls$25.62 provides for 14 lonely individuals$51.24 provides for 28 people in need$100.65 provides for 55 hungry people$183.00 provides for 100 destitute folks$501.42 provides for 274 needy people$1,001.01 provides for 547 of Utahs neediest$5,000 or my best gift of Other $

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The EnterpriseDec. 19-25, 2011 15

PLEASE NOTE: These are not eco-nomic predictions. They are based on my personal observation and first-hand knowl-edge of sales forces across the United States their present situation, and their future hope based on market conditions and readi-ness. And please DO NOT COMPARE YOURSELVES. Rather ask yourselves: Am I ready to win more based on these predic-tions and challenges? 1. PREDICTION: More business will be available as the economy begins to surge and the elections become a reality. CHALLENGE: Are you ready for an increase in business, not just with product and inventory ability, but with better attitude, mood, friendliness and morale of the entire company? 2. PREDICTION: There will be pricing challenges even in the wake of greater busi-ness. CHALLENGE: Now is the time for PROFIT. You have left too much money on the table for the past two years. Create a bet-ter value proposition, and use it rather than having to justify (and perhaps lower) your price. 3. PREDICTION: There will be an emphasis on third party purchasers and buying groups in order to leverage pric-ing. CHALLENGE: Build value-based rela-tionships that the customer would lose out on if they joined the group. Get testimonials from customers that decided not to partici-pate. 4. PREDICTION: Full participation in business social media is no longer an option for your company. CHALLENGE: Counsel your counsel and determine what you CAN do. Do that as fast as you can. Your plan must include all forms of busi-ness social media, and interaction with cus-tomers one-on-one. Need examples? There are plenty of them online right now. One of them may even be your competition. 5. PREDICTION: Full participation in business social media is no longer an option for you personally. CHALLENGE: Set up a business Facebook page where people can Like you and invite all your customers to begin to comment on your products, service and impact of ownership or service provided. Your LinkedIn connec-tions must exceed 501 and you must have at least 10 recommendations. This makes your image look powerful, structured and reputable. Twitter must attract 500 follow-ers, and you must tweet twice a day. Your YouTube channel must have at least 10 tes-timonial videos that use the most searchable words in your business category. Your blog is the real-world outlet for yourself and your customers make it valuable and interact with customers one-on-one. 6. PREDICTION: Your personal reputation and brand will play a greater role in getting a sales meeting and get-ting a favorable decision. CHALLENGE: Google yourself to establish your base in January. Then take WEEKLY actions to enhance your status. Get testimonials. Volunteer for charity. Speak in public. Post on your blog. Get others to praise you. And build your reputation one action item, and one good deed, at a time.

7. PREDICTION: You will need to be able to differentiate yourself from the competition (in the mind of your custom-er) to be greater than ever. CHALLENGE: Begin by asking yourself and your present customers what differentiates you from your competition. Then take actions to widen the gap. HINT: The ordinary things are a great start. Use Ace of Sales e-mails (www.aceof-sales.com) to begin the process. 8. PREDICTION: Your company will finally (after three years) begin to provide

sales training. CHALLENGE: Is the training relevant? Is the training acceptable to your sales team? Is the trainer acceptable to your sales team? Does the training incorpo-rate the voice of your customers? Is the training working? 9. PREDICTION: You will lose more than one sale to an inferior competitor. CHALLENGE: Find out why and fix it. HINT: It aint

price! 10. PREDICTION: More face-to-face meetings will be necessary to build rela-tionships, or you will become vulner-able to the competition. CHALLENGE: Double your existing face-to-face meetings from last year, and double your networking hours. 11. PREDICTION: Breakfast will be the new lunch. CHALLENGE: Your con-nections, relationships, and even your pros-pects are crunched for time. The two-hour lunch will wane. An early morning, 30-min-ute meeting over coffee will net more and better results. Set a goal of three breakfasts a week. 12. PREDICTION: Your sales plan/goal/quota/numbers will be much more attainable. CHALLENGE: The business is out there for you to earn. Your perceived value, your perceived difference and your reputation will determine your numbers way more that your price. 13. PREDICTION: Your personal dedication or rededication to excellence will reach new heights. CHALLENGE: Allocate three hours a day to YOU. Allocate an hour for social media and personal branding. Allocate an hour for customer interaction. And allocate an hour for reading and study. You will have to allocate more time for personal development and training because the new challenges require new knowledge. If youre looking for a game plan, if youre looking for a success plan, Ive just given you one that will make 2012 more than you could hope for. All you have to do is WORK HARD.

Jeffrey Gitomer is the author of The Sales Bible, Customer Satisfaction is Worthless Customer Loyalty is Priceless, The Little Red Book of Selling, The Little Red Book of Sales Answers, The Little Black Book of Connections, The Little Gold Book of YES! Attitude, The Little Green Book of Getting Your Way, The Little Platinum Book of Cha-Ching, The Little Teal Book of Trust, The Little Book of Leadership, and Social BOOM! His website, www.gitomer.com, will lead you to more information about training and seminars, or e-mail him personally at salesman@gitomer.com.

2011 All Rights Reserved

Thirteen predictions andchallenges for a great 2012

Jeffrey Gitomer

If anything is true about history, it is that it repeats itself. And just like the Great Depression in the 30s and the 10 eco-nomic downturns since then, this recession will come to an end. Ive seen this cycle many times and was reminded of it as I recently reviewed old Bank of American Fork documents from the 30s and 40s. Back in 1933 at the height of the Depression, the banks total assets were $274,000. Bank examin-ers classified $199,000 73 percent of those assets (mainly loans) as sub-standard. A decade later, Bank of American Forks assets had grown to $1.7 million and only $29,000, or 1.7 percent, were substandard. This is a testimonial to the reality of the economic and busi-ness cycles that repeat themselves time and time again. It also pro-vides a real-life perspective that encourages us to keep a positive attitude and work with faith in our future. I believe we have much to be encour-aged by, particularly in Utah. This is evi-denced by a recent article in Forbes that, for the second consecutive year, declared Utah as the Best State for Business and Careers. It is the only state that ranks among the top 15 states in each of the six main categories ranked: business costs, labor supply, regulatory environment, cur-rent economic climate, growth prospects and quality of life. Some of the highlights from the arti-cle show that: Utahs energy costs are 31 percent below the national average. Utahs employment growth has averaged 0.6 percent for the past five years, compared to the national job growth aver-age of negative 0.6 percent since 2005. National unemployment is at 8.6 percent compared to Utahs at 7 percent. Utahs job growth is projected by Moodys to be 2.4 percent annually through 2015, which is sixth best in the country. Utahs 5-percent corporate tax rate is well below that of western neighbors Arizona, Idaho and New Mexico. Utah ranks sixth in a new Tax Foundation study that looks at the tax bur-den on business in each state across differ-ent industries. Overall business costs in Utah are 10 percent below the national average,

resulting in recent or forthcoming expan-sions or relocations of companies includ-ing Procter & Gamble, ITT, Home Depot, Boeing, Goldman Sachs, Adobe Systems, eBay, Electronic Arts and Oracle. Utahs population growth is one of the fastest in the country, providing a bur-geoning workforce. I would say we Utahns have a lot to be proud of. But its not just us. While Utah is taking the lead, the entire U.S. economy

grew by 2.5 percent in the third quarter after growth of just 0.9 percent in the first half of the year. Thanksgiving weekend saw the number of shoppers increase, each spending an average of $398, up from $365 last year. This helped retailers earn a record $52.4 billion, up 16 percent from $45 billion last year, according to a survey by the National Retail Federation.

Further, many economists are revising upwards their GDP forecasts by as much as half a percentage point a significant increase. In November, builder confidence rose to its highest level in 17 months as measured by the National Association of Home Builders/Wells Fargo housing mar-ket index, and in October, building permits climbed 11 percent. The Restaurant Performance Index shows people are eating out more. Stocks are performing better, too: 76 percent of S&P 500 stocks reported higher earnings per share compared to Q3 2010, and 69 percent topped earnings estimates. All of these positive economic indica-tors show America is finally on the mend. What better Christmas gift can we ask for?

Dale Gunther is vice chairman of the board of Peoples Utah Bancorp, the holding company for Bank of American Fork, which is an Equal Housing Lender and Member FDIC. At the start of his 16-year tenure as CEO at Bank of American Fork, the bank had two branches and $80 million in assets; it now has 13 offices and more than $880 million in assets. Gunther has served as chairman of the Utah Bankers Association and currently serves as an American Fork City Councilman. This article should not be considered legal or investment advice. Seek legal and investment advice from your own qualified professional.

Improving economy is best Christmas gift

Dale Gunther

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The Enterprise Dec. 19-25, 201116

This weeks column is my semi-annual alphabetic view of the U.S. economy. Global ABCs will soon follow America economic growth is likely to continue at just better than a snails pace, especially when considering the massive amounts of fiscal and monetary stimulus in the economy. Still, the U.S. economy, for the moment, is improving while Europe, China and much of the world slows. Budget Deficits Im old enough to remember President Gerald Ford holding a news conference in the mid-1970s. He used a pointer and a large chart to explain why the nation might run a budget deficit as high as $40 billion that year. We now do that every 11 days Consumer Confidence still fragile with high unemployment, soft home values and anxiety about the size and direction of government. A reces-sion of confidence remains front and center. Dollar holding its own as the euro slides. Energy greater use of abun-dant natural gas, better access to oil and gas in Alaska and the Gulf of Mexico, and major progress in clean burn coal technology must be part of the equation in coming years in addition to alternative sources. Federal Reserve its key short-term interest rate has been at an historic low of 0-0.25 percent for three years now, with no change expected anytime soon. Will the Fed be able to rein in extraordinary money growth when necessary in coming years? Global Economy its all about Europe these days as more euro nations feel the wrath of wary financing markets. You would think the U.S. might just take a hint as to what might be coming on this side of the pond if we dont get our financial house in order. Housing home prices are expected to stabilize by 2012s second quarter. Note: I think economists have now said this for three years in a row. Maybe we will get it right this time. Inflation financial market players are split as to whether inflation or deflation will be the major worry in coming years. Jobs A key to strong job growth in 2012? How bout the administration and the Congress make some grown-up decisions about reducing future budget deficits, and then get out of the way? Knowledge and the Ability to Think the key to individual success in an increasingly sophisticated economy. Ongoing education and training are now lifelong realities for many to be successful. Average annual earnings of a college gradu-ate versus a high school graduate today? Seventy to 80 percent higher. Lending still too tight across the U.S., especially by the nations largest hand-ful of banks. In addition, smaller banks and other lenders are struggling with the as-yet-mostly-undefined complexities of the Dodd-Frank financial legislation. Manufacturing dont be surprised if rapidly rising global costs and more competitive U.S. costs lead to a renaissance in U.S. manufacturing activity in coming years. National Debt the gross nation-al debt (quite descriptive actually) now exceeding $15,100,000,000,000, combined

with budget deficits exceeding $1 trillion annually, makes concrete moves toward fis-cal sanity mandatory in the nations capital. Opportunity challenge breeds (it just might be a good time to be aggressive.) Politics childish and boorish behav-ior on both sides of the aisle in Washington is ridiculous and all too typical. Can we move toward term limits? Quarterly Economic Growth most forecasting economists see a 1.5-2.5 percent real (after inflation) annual growth pace in 2012. The current quarter could be closer to a 2.5-3 percent real annual rate. Retirement the term will take on

new meaning in coming decades as more and more people bridge the gap (work two or three days a week) between working full-time and moving into full retire-ment. Millions of retirement-age baby boomers will prefer (or need) to keep one foot in the workplace for a long time to come. Social Security steps taken sooner rather than later

to slow down the future growth rate of spending are required. It would be great if politicians would stop calling it spending cuts and scaring people! Taxes boosting capital gains, divi-dend and income tax rates on the top 3 percent of income earners remains the Presidents goal, if he survives the 2012 election. Like it or not, these are primarily the people who create jobs and invest. The administrations focus on income redistri-bution rather than on providing incentives for U.S. economic growth remains trou-bling. Unemployment likely to remain above 8.2 percent during the next 12-18 months, after averaging 9 percent during the past three years. Hundreds of thousands of people who previously left the labor force after becoming discouraged could return to the labor force, keeping the rate high. Visitors (foreign) tens of thousands of additional foreign residents would visit the U.S. (and spend money aggressively) if we didnt make it so hard for them to come. Wall Street simply stated, I remain a long-term bull on stocks. Xmas retail spending is expected to rise 3-5 percent versus last year. As before, aggressive discounting will drive consumer traffic. Youth my parents came of age with Pearl Harbor, my peers with Kennedys assassination and Vietnam. For millions of Generations X and Y, Sept. 11 and the Great Recession will be forever etched into their consciousness. JaZZ (Utah) we used to think of them as one of the NBAs elite teams. Now they are rebuilding. Can they be any good? Like the little train We think we can we think we can we think we can.

Jeff Thredgold is the only economist in the world to have ever earned the CSP (Certified Speaking Professional) international des-ignation, the highest earned designation in professional speaking. He is the author of econAmerica, released by major publisher Wiley & Sons, and serves as economic con-sultant to Zions Bank.

Domestic ABCs

Jeff Thredgold

merchants. Nearly 6 in 10 consumers are more likely to visit and buy from sites that offer no-credit-card-required payment options. Survey results further indicated that digital merchants could realize incre-mental average monthly revenue of $89 per consumer simply by increasing the available payment choices. Survey respon-dents perceived carrier billed mobile trans-actions, where financial information is never shared or loaded onto the phone, to be safer than mobile payments requiring consumers to input credit or debit card info. Consumers identified the wireless bill as the preferred method (58 percent), followed by the landline/broadband bill (22 percent) as the safest and most secure alternatives for digital purchases. Holiday shoppers are gobbling up electronics items at a brisk pace in 2011 and are poised to give the product category its most robust holiday season ever, according to new consumer data unveiled today by price comparison site and social commerce solutions provider SortPrice.

com. For 2011, the complete Top Ten list is as follows, based on roughly 42,000 user searches on SortPrice.com between Black Friday and Sunday, December 11: Apple iPad 2, Samsung HD televisions, assorted UGG boots, Apple iPhone, Beats Headphones by Dr. Dre, Tory Burch handbags, Call of Duty-Modern Warfare 3 for Xbox 360, Leap Pad Explorer, Womens Footwear from Jessica Simpson and North Face Mens outerwear. SPORTS Delta Air Lines and the Utah Jazz have renewed their multi-year partner-ship, one of the teams longest-tenured corporate partnerships. Delta, which will continue to serve as the official charter carrier for the Jazz team, also remains the franchises official airline. As a part of Deltas agreement with the Jazz, the west entrance of EnergySolutions Arena will be adorned with Delta-branded graphic ele-ments. Other components of the agreement include in-game promotions and player appearances.

from page 12

The EnterpriseDec. 19-25, 2011 17

Building on 125 years of trying cases, our trial lawyers have

an exceptional record of resolution, including success before

judges and juries. Few can match our experience.

The prestigious law firm of Snow, Christensen & Martineau celebrates its 125th anniversary this year, a milestone that is indicative of its commitment to the community. The firms success and longevity

has been built on a legacy of achievement for its clients, resulting in a practice that is local, regional and national in scope.

To celebrate the milestone, the firm recently hosted a black-tie gala hon-oring the life of one of its founding fa-thers, U.S. Supreme Court Justice George Sutherland. The event was, attended by more than two hundred Utah lawyers, judges and community leaders. The cele-bration began with an 18 minute docu-mentary emphasizing Sutherland's career, from his years as a student at the Brigham Young Academy to the founding of the law firm of Thurman and Sutherland now known as Snow, Christensen and Marti-neau. Following the documentary was a

theatrical production, in which news anchorman Terry Wood inter-viewed actor Michael Bennett who portrayed Justice Sutherland.

The evening concluded in the presentation of a bust of Suther-land commissioned by Snow, Christensen & Martineau to Chief Judge Ted Stewart. Upon completion of the federal courthouse expansion, the bust will be displayed at the courthouse to memorialize the achieve-ments and legacy of Utahs highest jurist.

The 125th anniversary was fur-ther marked by the firm giving back to the community. More than 100 employ-ees of the firm, attorneys and staff, took time off work to help Salt Lake Valley Habitat for Humanity build a house for a family in Salt Lake City. The firm has a long history of giving to the community in a variety of ways, including donation of services, time and money.

Since its beginning in 1886 the firm has grown from two to 55 lawyers. In 2008 the firm opened offices in St. George, Utah to better serve its clients.

Snow, Christensen & Martineau prides itself on its long-term client relationships, which the firm attributes as one of the reasons for its suc-cess.

Snow, Christensen & Martineau Celebrates its 125th Anniversary

George Sutherland

Offices of Snow, Christensen & Martineau 1909

Habitat for Humanity Service Project

The Enterprise Dec. 19-25, 201118

Held aloft by the highest approval ratings of any gover-nor in America, Andrew Cuomo scarcely seemed to worry about angering his states progressives, who were disappointed by his refusal to extend a state surtax on New Yorks millionaires. But in what may come to be regarded as a water-shed moment in his ten-ure, Cuomo now plans a sweeping tax reform that is expected to demand more, not less, from the states wealthi-est, while reducing the burden on the middle class in the name of fundamental fairness. Recently, rumors of a shift in Cuomos anti-tax position began to circulate, and confirmed when

his office dispatched a short essay by the governor to newspaper edi-tors around the state arguing that

New Yorks current tax code is unfair to the middle class and inhibits economic growth. Rather than the expiring surcharg-es, which Cuomo cas-tigates for raising the taxes of families mak-ing $200,000 a year hardly millionaires, as he put it his proposed

new system would add higher brackets at the top end and lower brackets in the middle. Although he didnt offer details yet, his aims are clear enough: First, we need to reform the code in a way that creates jobs and

grows our economy. To do that, we need to put more money in New Yorkers pockets and inject it back in to the economy. There are also tax credits that can incentiv-ize private-sector job growth. Second, true reform for fairness has two factors: income brackets that fairly group income levels and progressive rates increasing with income. Simply put, to me fairness dictates that the more you make the more you pay, and the higher your income the higher your rate. Also, you should be treated the same as people with similar incomes and differently from people who make significantly more, or significantly less, than you earn. Fairly or not, Cuomos deci-

sion to seek higher levies on the states highest earners will be por-trayed as a turnabout from his ear-lier position, which had cast him as a defender of Wall Street and big business against labor populism. Predictably enough, Republicans and the local tea party were swift to attack. Mike Long, chairman of the states Conservative Party (and longtime antagonist of Cuomo and his father, the former governor), denounced him as a flip-flopper. Hes the one who made a principled stand, said Long. Whether you agree with that principled stand or not, once you break a principled stand, then one wonders what you can count on him for in the future. The states tea party leaders said that Cuomo

should be cutting more spending instead of raising taxes. But Cuomo crushed the tea party-sponsored opposition to h