Money - The Salt Lake Tribune

Wall Street: Stock indexes flip between gains and losses

Tue, 21 May 2013 10:16:19 MDT

Wall Street: Stock indexes flip between gains and losses

the Associated Press

Published May 21, 2013 10:16AM MDT

NEW YORK • Stock indexes fluctuated in midday trading Tuesday as investors tried to predict the Fed’s next move. The Dow Jones industrial average rose 32 points to 15,366 shortly before 12 Eastern time. The Standard & Poor’s 500 index edged up one point to 1,668. The Nasdaq composite rose three points to 3,499. “There’s no compelling reason for the market to go one way or another today,” said Michael Binger, senior portfolio manager at Gradient Investments in Minneapolis, Minn. “And I think a lo...

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Microsoft’s updates to Xbox to be revealed today

Tue, 21 May 2013 10:02:27 MDT

Microsoft’s updates to Xbox to be revealed today

by Vince Horiuchi The Salt Lake Tribune

Published May 21, 2013 10:02AM MDT

Tuesday morning, Microsoft will be announcing the follow-up to its Xbox 360 video game console, officially entering the next-gen gaming war with Sony and Nintendo. The announcement will be made at 11 a.m. from Microsoft’s campus in Redmond, Wash. Here’s what’s known about the upcoming console. Name and price • For years, the next-generation Xbox was always unofficially referred to as “Xbox 720” by gamers. More than a year ago, it was revealed that the code name within Microsoft headquarters was...

Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

KUED GM is stepping down after 3 years

Tue, 21 May 2013 07:11:52 MDT

KUED GM is stepping down after 3 years

by Scott D. Pierce The Salt Lake Tribune

Published May 21, 2013 07:11AM MDT

KUED General Manager Michael Dunn has announced he’s stepping down and returning to the private sector. After three years at Channel 7, he’s accepted a position as chief marketing officer of ski boot and running shoe manufacturer Surefoot in Park City. Dunn will leave the station in mid-June. KUED plans a national search for his replacement.

Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Goldman, Zions take Salt Lake City stage this week

Tue, 21 May 2013 07:11:33 MDT

Goldman, Zions take Salt Lake City stage this week

by Paul Beebe The Salt Lake Tribune

Published May 21, 2013 07:11AM MDT

When it comes to local news about banking, it’s not likely to get more rousing than what happens in Salt Lake City later this week. In a first on Thursday, Goldman Sachs, the giant New York investment bank, beginning at 9:30 a.m. will hold its annual shareholder meeting at its offices at 222 S. Main St. Leading the show will be Chairman and CEO Lloyd Blankfein, one of the most powerful — and highly paid — bankers on Wall Street. On Friday beginning at 1 p.m., Zions Bancorp will stage its annual...

Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

XanGo co-founder sues partners over alleged misuse of funds

Mon, 20 May 2013 23:51:47 MDT

XanGo co-founder sues partners over alleged misuse of funds

by Jennifer Dobner The Salt Lake Tribune

Published May 20, 2013 11:51PM MDT

A co-founder of Utah mangosteen juice marketer XanGo is suing his business partners, claiming they mismanaged company assets for their personal benefit, spending millions on vacations, luxury items and gifts for family and friends. They counter that the lawsuit is nothing more than a bid to direct attention away from his poor performance, which has prompted an effort to cut ties with him. The 38-page civil suit, filed May 16 by Bryan B. Davis in Salt Lake City’s U.S. District Court, also conten...

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At Utah’s CHG, big BBQ is just part of the fun

Mon, 20 May 2013 23:51:47 MDT

At Utah’s CHG, big BBQ is just part of the fun

the Salt Lake Tribune

Published May 20, 2013 11:51PM MDT

CHG Healthcare Services on Monday demonstrated again why it’s one of the best places in the U.S. to work. The Holladay-based physician staffing company staged a come-one-come-all outdoor barbecue for its 844 employees. (The company has more than 600 workers in offices outside Utah.) Earlier this year, Fortune magazine put CHG at No. 3 on its annual 100 Best Companies to Work For list. The company moved up six places from No. 9 last year because of the energy it expends to communicate with its ...

Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Smith’s to debut remodeled store at 800 East, 4500 South

Mon, 20 May 2013 23:51:47 MDT

Smith’s to debut remodeled store at 800 East, 4500 South

the Salt Lake Tribune

Published May 20, 2013 11:51PM MDT

At 8 a.m. Wednesday, Smith’s Food & Drug will officially debut its remodeled store at 845 E. 4500 South in the Millcreek area. The $3.3 million effort includes the addition of a sushi bar, a station for cooked meals for take-out, a bulk foods area with more than 200 selections and an expanded pharmacy with seating and a private consultation area. To conserve energy, two entryways have been combined into a center entrance with a two-stage vestibule, and chilled grocery cases feature motion-sensi...

Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Business news briefs

Mon, 20 May 2013 18:03:02 MDT

Business news briefs

staff And News Services

Published May 20, 2013 06:03PM MDT

Food ordering startups to combine forces Online food ordering startup GrubHub is merging with rival Seamless, creating a combined network of 20,000 local takeout restaurants in 500 cities. The two connect diners to restaurants online that offer takeout and delivery, taking a cut of transactions. United restarts 787 flights after grounding United Airlines put its 787 back in the air on Monday, with the airline and Boeing hoping to put the plane’s four-month grounding behind them. The Hou...

Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Yahoo takes big leap with $1.1B deal for Tumblr

Mon, 20 May 2013 13:16:29 MDT

Yahoo takes big leap with $1.1B deal for Tumblr

by Michael Liedtke The Associated Press

Published May 20, 2013 01:16PM MDT

SAN FRANCISCO • Yahoo is buying online blogging forum Tumblr for $1.1 billion as CEO Marissa Mayer tries to rejuvenate an Internet pioneer that had fallen behind the times. The deal announced Monday is Mayer’s boldest move since she left Google 10 months ago to lead Yahoo’s latest comeback attempt. It marks Yahoo’s most expensive acquisition since the Sunnyvale, Calif., company bought online search engine Overture a decade ago for $1.3 billion in cash and stock. Yahoo is paying mostly cash for T...

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Carl’s Jr. opens location in Salina

Mon, 20 May 2013 13:10:02 MDT

Carl’s Jr. opens location in Salina

the Salt Lake Tribune

Published May 20, 2013 01:10PM MDT

A Carl’s Jr. restaurant has opened in Salina at 1659 S. State St. The location is the 39th in Utah and offers charbroiled burgers, hand-scooped shakes, hand-breaded chicken tenders and made-from-scratch biscuits. Carl’s Jr., which is celebrating more than 70 years in the industry, through its subsidiaries operates 3,318 franchises or company-owned restaurants in 42 states and 28 foreign countries.

Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Resort lodges finish a much better ski season

Mon, 20 May 2013 12:59:02 MDT

Resort lodges finish a much better ski season

by Mike Gorrell The Salt Lake Tribune

Published May 20, 2013 12:59PM MDT

Lodging providers in Utah resort communities finished the ski season with improved results from the poor winter a year earlier. Occupancy through the end of April was 61.6 percent in Utah resort towns, up from 57.5 percent a year ago, according to the Denver-based Rocky Mountain Lodging Report. Average room rates, it added, rose $15 a night to $257. The improved performance mirrored results across the West. The Mountain Travel Research Program, also from Denver, said occupancy climbed 5.8 percen...

Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Little Caesars opening in Heber on Tuesday

Mon, 20 May 2013 12:42:03 MDT

Little Caesars opening in Heber on Tuesday

the Salt Lake Tribune

Published May 20, 2013 12:42PM MDT

A new Little Caesars restaurant will celebrate its opening at 10:30 a.m. on Tuesday in Heber, at 1100 S. Main St. The community can get a sneak peek during a customer party from 4 p.m. to 6 p.m. today . Guests will be able to sample pizza, crazy bread, Italian cheese bread, wings and other items. The new store has a drive-through and is near the Heber Walmart. It will employ 35 team members. Murray-based Sizzling Platter LLC, which owns and operates more than 45 Little Caesars locations in Utah...

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Google to allow Gmail users to send money for free (VIDEO)

Mon, 20 May 2013 10:27:02 MDT

Google to allow Gmail users to send money for free (VIDEO)

digital First Media

Published May 20, 2013 10:27AM MDT

Google, the world’s largest email provider, has announced that users of its Gmail and Google Wallet services will be able to send money for free from Wallet accounts. Watch to see how that would work.

Copyright 2013 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

As Utah’s star rises after 2 recessions, lessons linger

Mon, 20 May 2013 07:14:20 MDT

As Utah’s star rises after 2 recessions, lessons linger

by Paul Beebe The Salt Lake Tribune

Published May 20, 2013 07:14AM MDT

With few exceptions, the pattern of jobs distributed across Utah is largely unchanged after two recessions since the turn of the new century. That underscores not only the unusual diversity of the state’s economy, but it increases the likelihood employment in the state will grow faster than in the U.S. for some time. It’s true the Great Recession gave construction a good drubbing , manufacturing employment ebbed and flowed between 2000 and 2012, and the information sector seems in permanent decl...

Marijuana firms form investment network for pot-related startups

Sun, 19 May 2013 16:39:07 MDT

Marijuana firms form investment network for pot-related startups

by Steve Raabe The Denver Post

Published May 19, 2013 04:39PM MDT

Legal marijuana’s sensational evolution is helping crack open a previously closed door: money to start and grow cannabis businesses. Marijuana entrepreneurs routinely are turned down for bank loans or deposit accounts and have struggled to attract financing from private investors. But thanks largely to recreational pot’s new legal status in Colorado and Washington and more states approving medical marijuana, checkbooks are opening and investment partnerships are being signed. Colorado business o...

Jamie Dimon under pressure ahead of JPMorgan Chase vote

Sun, 19 May 2013 13:59:02 MDT

Jamie Dimon under pressure ahead of JPMorgan Chase vote

by Christina Rexrode The Associated Press

Published May 19, 2013 01:59PM MDT

New York • Jamie Dimon, chairman and CEO of the country’s biggest bank, faces a key test this week: His shareholders are voting on whether to let him keep both jobs. It’s been just more than a year since his bank, JPMorgan Chase, revealed a surprise trading loss that tarnished its usually stellar reputation in Washington and on Wall Street, and what a difference it has made. Shareholder groups are calling for the bank to strip him of his chairman job, a move that would be a bruising referendum a...

Buybacks are a big factor behind stock market boom

Sun, 19 May 2013 12:14:02 MDT

Buybacks are a big factor behind stock market boom

by Bernard Condon The Associated Press

Published May 19, 2013 12:14PM MDT

New York • It’s the narcissist rally. Sure, there are plenty of forces pushing stocks higher — record corporate earnings, small investors finally buying again, signs the U.S. economy may be strengthening, central banks flooding the financial system with money. But you may want to spare a thought, and a healthy dose of worry, for what is one of the biggest, and least appreciated, reasons for the rally: buybacks. Flush with cash and a world of opportunity at their doorstep, companies have decided ...

Use your smartphone to find e-coupons and discounts

Sun, 19 May 2013 01:11:32 MDT

Use your smartphone to find e-coupons and discounts

by Claire Martin The Denver Post

Published May 19, 2013 01:11AM MDT

With one child in college and another in high school, seeing a movie on the big screen is a rare indulgence for our family. So when our high school student wanted some concession-stand popcorn after we bought our tickets, I rolled my eyes as she walked over, wallet in one hand and cellphone, of course, in the other. “What did that set you back?” I asked when she returned, popcorn in hand. “Two bucks,” she said. “I had a coupon on my phone.” D’oh! And so the younger generation schools the older w...

Business events in Utah this week

Sun, 19 May 2013 01:09:28 MDT

Business events in Utah this week

the Salt Lake Tribune

Published May 19, 2013 01:09AM MDT

Convention Calendar Sunday Society for Industrial & Applied Mathematics Snowbird Attendance • 600 Runs through • Saturday Monday Azteca Systems Inc. 2013 Cityworks User Group Salt Palace Attendance • 500 Runs through • Thursday Friday Conduit 2013 Science Fiction & Fantasy Convention Radisson Hotel Salt Lake City downtown Attendance • 350 Runs through • May 27 Economic Calendar New economic numbers to be released this week include: Wednesday National Association of Realtors • E...

In Bloomberg uproar, ethics flags for new media

Sun, 19 May 2013 01:09:28 MDT

In Bloomberg uproar, ethics flags for new media

by Adam Geller The Associated Press

Published May 19, 2013 01:09AM MDT

New York • Launching his namesake company’s news division in the 1990s, Michael Bloomberg largely rejected long-held rules of the journalism trade that insist on keeping thick firewalls between reporters and the profit-making workings of their companies. Now, a byproduct of Bloomberg’s widely admired and novel business model has ensnared his company in a problem of its own making. But the uproar — revolving around specialized computer terminals unknown to most news consumers, and the reporters w...