The Daily Spectrum from Saint George, Utah • 10

Husin The Daily Spectrum Friday, February lO. 1989 PagelO Business Briefs -it. Doy farmers to meet SALT LAKE CITY Utah dairy farmers representing various dairy groups will meet at the Provo Excelsior. Feb. 15-17, for the 1989 annual Utah Dairy Convention.

Activities will include annual meetings of the Utah Holstein Association, the Utah Jersey Cattle Club, the Utah Dairy Herd Improvement Association, the Utah Dairymen's Association and the Utah Dairy Wives. The Utah Dairy CommissionDairy Council of Utah will have a regular board meeting and will sponsor the annual Dairy Princess Pageant. Dr. Frank N. Dickinson, chief executive officer of the National Dairy Herd Improvement Association, will discuss the impact of new technology on dairy farming.

Other speakers include Richard Marshall, chairman of the board of Evans Advertising, and Glenn Tuckett, BYU athletic director. Dian Thomas, family member of ABC's Home Show and a regular guest on NBC's Today Show, will address Dairy Wives members at a business brunch. The Utah Dairy Commission will present its annual Service to the Dairy Industry Award and Federal Land BankPCA will sponsor the annual Old Timers Award. Other awards to be presented at the convention are the Governor's Award presented to an outstanding dairy farming family, the Dairy Herd Improvement Award, the Jersey Breeder Award, and the Holstein Distinguished Breeder Award. Salesman joins Newby team i A xi Cole won a bike! ST, GEORGE Five-year-old Cole Nelson of St.

McDonald at the recent grand opening of the George poses with Ronald McDonald on the new McDonalds on Bluff Street. (Photo Courtesy new BMX bicycle he won with Ronald of McDonald's) Prices close sharply lower ST. GEORGE Brad Heaps of St. George has recently joined the sales team at Newby Buick, Pontiac, Olds, GMC Inc. Heaps, who recently moved to St.

George with his wife, Suzanne, and their two young sons, has been working in Salt Lake City for the past four years as branch manager for Draper State Bank in its installment loan department. Before that Heaps worked for Dixie State Bank in St. George in its installment loan department. Heaps attended Dixie College between 1 fV7Q nwtl IftOfX nrVtnpa Ka nrte mnmrtAi sf Ka Board volume totaled 224,220,000 shares, compared with 189,420,000 Seniors are concerned by Shearson lehmaon Hutton, inc. ST.

GEORGE The passage of the Medicare Catastrophic Coverage Act into law effective Jan. 1, 1988 has prompted concern on the part of senior citizens across the nation. The intent of the new law is to fill in the gaps between Medicare physician and hospital coverage, additional payments for outpatient prescription drugs and spousal impoverishment protection. The reason for the growing concern among the elderly is that the new will be financed, in part, through supplemental premiums paid by senior citizens based on their income tax liability. Under the new law all Medicare beneficiaries will pay an added 15 percent surtax on each $150 of federal income taxes owed up to a -Ceiling of $800 per person or $1,600 per couple.

This surtax will increase each year to a maximum of 28 percent by 1993, with a ceiling of $1,050 per person or $2,100 per couple. Because of the standard deductions and personal exemptions, senior citizens filing jointly with an adjusted gross income of less than $10,000 will incur no federal tax liabilities. Therefore, they will pay no surtax on this income. While the new legislation imposes a surtax on the elderly investor, several investment strategies can reduce its bite. Investment experts agree that a shift from taxable to tax-exempt investments can, in some cases, do the job.

Specifically, they recommend consideration of tax-free municipal bonds, tax-free mutual funds, tax-free unit trusts, tax-deferred annuities and certain direct investments as viable options. However, before investors arbitrarily switch their investments from higher-yielding taxable investments to tax-exempt categories, they should examine the interest rate spread between the two, as well as applicable federal and state effective tax rates. A good rule of thumb for a married couple who are both Medicare beneficiaries to bear in mind is that they can realize the added benefit of reducing the surtax if state and federal tax rates make it appropriate to invest in municipals and their taxable income can be lowered to fall within a window of $30,000 to $50,000. If this couple's taxable income falls below the $30,000 general income range, they may lose more in after-tax interest income than they'll save in the surtax reduction because they may have fallen into the lower, 15 percent tax bracket. On the other hand, if this same couple has a taxable income of more than $50,000, they may not realize additional surtax savings.

In 1993 this upper limit will be reduced to $40,000. For those senior citizens filing individual tax returns in 1989, this optimum "window" of taxable income is between $17,850 and $27,000. NEW YORK (UPI) Stock prices closed sharply lower Thursday, in active trading as investors reacted to weakness in bonds and a sharp decline in the dollar. The Dow Jones industrial average, which slipped 3.93 Wednesday, fell 20.17 to close at 2323.04. It was the Dow's sixth loss in the past seven sessions.

The Dow plunged 20 points in the opening minutes and managed to fight back to even shortly after midday as investors returned to the market to buy at the cheaper levels. The selloff resumed when the continued weakness in bonds and the dollar convinced some participants the time was right to take profits. In late New York trading the dollar had fallen to 1.8520 against the West German mark, down from 1.87 marks late Wednesday. Broader-market indicators also retreated. The New York Stock Exchange composite index fell 1.56 to close at 166.13.

Standard Poor's 500-stock index fell 2.59 to 296.06. The price of an average share lost 32 cents. Declines led advances, 996 to 505, among the 1,955 issues traded. Big we have formed at top in terms of the amount of time, about two weeks, we have spent here." On the trading floor, Houston Industries was the most active issue, down to 28. Philadelphia Electric followed, unchanged at 20 Allied-Signal was third, down to 35.

Volume of NYSE-listed issues, including trades in stocks on regional exchanges and in the over-the-counter market, totaled 256,788,520 shares, compared with 224,834,480 in the previous session. Prices closed lower in moderate trading of American Stock Exchange issues. The Amex Market Value index fell 1.87 to 325.36. The price of an average share lost 7 cents. Declines led advances, 368 to 222, among the 877 issues traded.

Composite volume totaled 13,190,400 shares, compared with 15,121,300 shares Wednesday. Wang Labs class led the Amex issues, down lA to 9 The National Association of Securities Dealers composite index dropped 1.58 to close at 406.39. traded Wednesday. "I think we might have seen the top from the November lows," said Don R. Hays, director of investment strategy at Wheat, First Securities in Richmond, Va.

"We could easily see a rally Friday. You don't go from red hot to ice cold overnight. But it appears we are evolving into a correction." Chester Pado, director of technical research at Jefferies Co. in Los Angeles, said there also were some "jitters" over what President Bush might say in his budget message to Congress Thursday night, a "The market really doesn't expect anything new from the proposals," Pado said. "There is the expectation that Bush will repeat his pledge of no new taxes and call for a reduction in the capital gains tax.

But no bombshell." "We have had a tremendous run since the November Pado said. "This is a logical area to see some backing and filling. It has become much more difficult to move up at this level. But one can't conclude ism auu ijw nucic lie nao a vi uiv Brad Heaps school's basketball team. McDonnell Douglas sells six jets LONG BEACH, Calif.

(UPI) The Indonesian national airline, Garuda Indonesia Airways, will purchase six McDonnell Douglas Corp. MD-11 wide-body jets, the aircraft manufacturer announced. Potential value of the Garuda order is more than $600 million. The announcement Wednesday came just one day after five other airlines ordered up to 76 of the MD-11 aircraft. "The MD-lls will be able to fly non-stop to Europe, providing us with an' important upgrading of our route system," Mohamad Soeparno, president of Garuda.

SkyWest revenues up ST. GEORGE, Utah. (UPI) SkyWest Airlines reported $606,000 in third-quarter net income Thursday on $19.8 million in revenues, both up significantly from the same quarter ending Dec. 31, 1987. The income, equivalent to 12 cents per share of common stock, was up dramatically from a $907,000 loss during the third quarter a year ago on $16.48 million in revenues, said SkyWest spokesman John Bowler.

The commuter airline "has now posted three consecutive quarters of profitability following a loss year which was preceded by 12 consecutive years of profitabiity," said Bowler. The turnaround resulted in part from an improved load factor throughout the route system, he said. SkyWest's load factor jumped from about 38 percent a year ago to about 41 percent for the October-December 1988 quarter. SkyWest serves "44 cities in eight Western states. City Council director appointed SALT LAKE CITY (UPI) Mayor Palmer DePaulis has appointed Linda Hamilton, executive director of the City Council, as the city's director of finance.

Hamilton succeeds Lance Bateman, who resigned effective Friday. "I've been particularly impressed by Linda's management skills," DePaulis said. "I have every confidence she will manage the Finance Department with as much energy and professionalism as she has done as council executive director." Closing Stocks Albrtson .56 Alcoa 1.60 AMR AUMOp, 1.20 Amoco 3.80 AtlRich 4.50 BankAmer BethSteel 5 Boeing 1.60 BoiseC 1.40 Borden 1.56 Brnswck .44 BurlN Catrplar .75 Chevrn 2.80 Chrysler 1 Comsat 1.32 ConsFr .98 41 '4 6358 58V4 10 31 77 8558 21 27 6258 43 58'4 18 2478 6078 4858 2858 28 35V4 DiGiorgo .64 DwChm 2.80 EstmnKod 2 Exxon 2.20 Ford 3.00 GenEl 1.64 GnMot 1.50b Ga Pac 1.40 Goodyr 1.80 Gryhnd 1.32 GTE 2.68 Inlands 1.40 IBM 4.40 IntlPap 1.30 ITT 1.48 JamesR .48 KMart 1.32 Lxheed 1.60 LoneStr 1.90 LaPac 27'4 McKess 1.44 32 SCEcp 2.48 9758 Mobil 2.40. 47 Sears 2 4778 Nashua .48 3458 SieraP 1.80 45Mi Navistar 6' SouthCo 2.14 55 OccPet 2.50 2758 Sunshine 47 PacifCp 2.64 34 Tennco 3.04 92'A PacEnt 3.48 3958 Texaco 3 40 PacGE 1.40 18 Tiger Intl 50'i PanAm Cp 34 Trnsam 1.88 3078' Penney 2 54Mi Trinova .64 4578 PepsiCo .84 40' UAL 47 PhiUipP .72 2078 Un Carb 1 126lfe Polaroid .60 4P4 UnPac 2.20 4978 PortGnl 1.96 2258 Unocal 1 ProctG 3.20 89 USG 2958 Quantum 3 58' 4 38 RJRNb 2.20 81 USX 1.40 47te Rckwell .72 2178 Wstn Union 30 SanDGs 2.60 38 Weyrh 1.20 3178 SnFeSoPc 1 2158 Wlwrth 1.64 3258 42 22 23 3 49V4 44 20 34 28 121 '4 29 69 4058 7 31 l'4 26 54 $80 million hotel project starts LAS VEGAS. Nev.

(UPI) Mar- Cor Development Co. Thursday broke ground for its $80 million, 21-story, all-suite Rio Hotel and Casino. The 430-suite resort, billed as Las Vegas' first all-suite hotel-casino, will be located on a 30-acre site one mile west of the Strip at Flamingo -Road and Valley View Drive. Completion is scheduled for De silver prices price for refining, settling and unta- bncated gold of 395.12 up 3.26 per troy ounce. Selling price, fabricated gold 414.88 up 3.43 per troy ounce.

Silver Comex spot close 5.891 off 0.026 Republic cash 5.90 off 0.015 Handy and Harman quoted silver at 5.92 per fine ounce up 0.02 quoted Engelhard Corp. quoted a base price for industrial silver of 5.945 up 0.025 and a price for fabricated silver products of 6.361 up 0.027 Platinum Engelhard Corp. quoted a base price for bullion platinum of 541.50 up 13.50 per troy ounce and a price for fabricated platinum of 641.50 up 13.50. in Las Vegas and shopping centers. The groundbreaking ceremony featured a 90-ton sand sculpture of the proposed resort.

The 15-foot by 30-foot painted replica of The Rio was fashioned by sand sculptors Kali Bradford, Matt Schroeder and Doug Kruse of California Dreamers. They spent more than two days creating the sculpture. Some of the sand was brought to Las Vegas from Rio de Janiero for the ceremony. the training. Other hotels and franchises have developed their own training programs ours is the best one, Larsen, Lester West and Liz Burns taught the classes.

Hilton Inn, St. George, employs 60 pie. The corporation comprises hotels nationally. cember of this year. The resort will feature five restaurants, a bakery, a race and sports book and several entertainment centers.

A revue production is planned for the Rio's 400-seat showroom. This is the first venture into the gaming industry for MarCor Development. In the past, the Las Vegas-based company has concentrated mainly on the development of business parks training program initiated nationally by Hilton Corporation. "The workshop stresses interaction amongst the employees," said Larsen. "When employees graduate, we give them a certificate and a Priority One badge, which they wear.

This is the number one training program for (hotel) employees in the nation. Hilton started Hilton Hotel employees complete program ST. GEORGE Seventeen employees of the Hilton Hotel have completed a recently implemented ten-week, training program designed to help its employees be better service oriented, says Pat Larsen, director of sales for Hilton. Priority One, the program, is a Gold and NEW YORK (UPI) Foreign and domestic gold, silver, platinum palladium prices quoted in dollars per troy ounce Thursday: Gold London Previous close fix 390.50 off 2.25 Morning fixing 394.10 up 3.60 Afternoon fixing 393.80 up 3.30 Close 394.25 up 3.75 Paris 394.10 up 1.63 Zurich 394.50 up 3.50 Hong Kong 394.35 up 2.45 New York Comex spot close 394.90 off 1.30 Republic cash 393.25 off 1.00 Handy and Harman 393.80 up 3.25 Engelhard Corp. quoted a base IVPArthur Jewelers OlAMONO SPECIALISTS 673-2471 41 No.

Main St. George goJR I if H'v- fc give your special 1 I 1 i I I I i fx Valentine roses to last i I I I if I i jt4 forever from our Miniature I I 'J Rose Collection. In 14Kt. fvr 4 I I tl gold overlay from A' Vi I If, KremenU. Alt IHferiee's, Senior Citizens.

Get your Hardee's Gold card and save 10. You've supported us throughout the yc.irs. Now we'd like to give you something in return. A r.ird entitles you to a 10 discount, every time you purchase a at a participating store. Not g(Kl in conjunction with other The Hardee YGold Card.

Because you've earned it. ST GEORGE Hilton Inn of St. George son. front desk supervisor; Laura Ferguson, employees who are involved in training and hostess; Linda Olds, housekeeper and Peggy Implementing "Priority One," a service Simpson, front office manager. Back row, left oriented training program, are (front row, left to right, are Pat Larsen, director of sales; Cheryl to right): Lester West, general manager; Jolene Berry floor supervisor; Kitty DelFlore, hostess Pardee, convention coordinator; Shirley and Liz Burns, restaurant manager.

(Spectrum Woolsey. head housecleaner; Patricia Patter- Darrell Bybee) Handosit i..