Ukiah Daily Journal from Ukiah, California on January 26, 2000 · Page 5
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Ukiah Daily Journal from Ukiah, California · Page 5

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Ukiah, California
Issue Date:
Wednesday, January 26, 2000
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Page 5
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Commerce r '•••••.- — Continued from Page 3 u Then the recession turned and the boom came. California's absolute numbers "dwarf the rest of the region, according to the report, but, it notes, "the rapid growth in population stands in marked contrast to the below average growth in wage and salary employment and slightly above average gain in total personal income." Of the six states studied, California ranked second only to Nevada in job growth in 1999 and 1998, although it was last of the six in 1997. The Northern California counties lost a lot of manufacturing jobs in the late 1990s. Across the "Northern 34" counties, manufacturing jobs declined from over 21,000 to about 14,000. A surge in real estate brought on new construction jobs and with that, the related insurance, and real estate sector employment. The report notes some interesting ways economic events affect different regions: "It is fascinating to analyze the Western Region in times of major structural change and to observe the way that different events are perceived regionally - a down day in Boise is an exciting opening of Ralph's in Sacramento. The looming closure of McClellan represents the transfer of some work from that closed facility to Hill Air Force Base in Utah. The ;early November ruling by Judge Jackson that Microsoft was a monopolist is discomforting in Seattle, but may stimulate some firms such as Oracle in the San Francisco Bay Area. The California March 2000 election will likely see the passage of Measure 1A, Analysis which would expand legal gaming operations in the state, in competition with the gambling offerings in Nevada. Other ripples that link events in the region include the Albertson's merger with Salt Lake City-based American Stores. As a condition of that merger, Albertson's was forced to divest 145 stores in California, Nevada and New Mexico. Ralph's Grocery, based in Southern California, bought 18 stores in Sacramento, Placer, Yolo, Nevada and Ainador counties. In addition, Raley's, a West Sacramento- based subsidiary of Kroger Co., is buying 27 stores in New'Mexico and Las Vegas, Nev." After several years of weakness in the 1990s, the report says, California is once again one of the economic performance leaders in the nation, although it warns that skyrocketing housing prices brings affordability problems and the diverse population will challenge the education system. In 2000, the reports predicts, California will "benefit from improving prospects in overseas markets ... The long national decline in defense appears to be over and the advances in technology continue. The construction boom that has helped to power the California economy should continue in light of its late start, the massive highway projects, and the state's rapidly expanding population. California's employment growth in 2000 will be 2.5 percent with personal income growth of 5.5 percent." The Mendocino Transit Authority announced last week that the 1999 Holiday Trolley carried 7,001 passengers in 1999, up 48 passengers from 1998. The Continued from Page 3 effect has been in bond, not stock, prices. And so, again, as so many times in the past couple of years, the constant battle is about an inflation that still hasn't shown 'its head; and' whether <or not 'interest rates will be raised •again. " Greenspan's the engineer. He can keep talking inflation and hope it will sink in. And he can keep tapping on the brakes, a quarter point at a time, until he gets the slowdown he wants. He's up against momentum, and up to now the economic fraternity hasn't been able to weigh, "i measure or understand it. And maybe its understanding of inflation' also needs some work. Meanwhile, we'll keep talking about it. VOGT'S Communication Services 24 Hour Answering Service Tailored to Your Business Needs 462-4126 simple. affordable. Unite attw (torn out fete, MdpNi lor«DM<nceriM <n|DOd24haun • diy- 6 second Increments Why Piy tor Hme when your not on the phone? You never h«*e to remember those jnf loni s code»l Mdphiidotinl cturie you* monthly IN. How mudi doe* your current provider chirge you to 'tfaft Anyone con save/ YOU don't have to be an Adelphia Customer to sign-up with Adelphia long Distance. Now that's something to jump about •MfcnM M » aw Him In •» wHtamU Ui Ukiah -462-8737 Wlllits - 459-2262 Fort Bragg - 964-6613 trolley avenged 248 passengers a day. The Trolley this year was sponsored by the Ukiah Chamber of Commerce, The Ukiah Main Street Program and MTA and a number of other local businesses. Legal Services of Northern California has been awarded a California Consumer Protection related unfair business practices suffered by low-income Latinos in Mendocino and Lake counties. The grant is aimed at cracking down on unscrupulous business practices some consumers face when buying used cars. The grant will be implemented by Legal Services with the help of the District Attorney's office and Nuestra Casa. For more information, call 462-1471 or toll-free 1 (877)529-7700. Tb« Ukiah Mata Street Program has issued a survey asking people what they thought of the Thursday Night Market. That's the late Thursday night event that Main Street has organized getting stores and restaurants to stay open and the fanners markets to stay downtown late. If you attended any of the late Thursday events, stop by Main Street at the Ukiah Valley Conference Center and fill out a survey. The California Association of Winegrape Grower* and the California Wine Institute issued a report this week that concludes that the wine industry has a $33 billion impact in the state of California. The report, completed by industry consultants Motto, Kryla & Fisher LLP of St. Helena, concluded that "California wine is the No. 1 finished agricultural product in retail value" in the state. The report says the wine industry provides 145,000 full-time equivalent jobs and $4.2 billion in wages. Tht Ch> of Wittte will have a public hearing tonight as part of its regular meeting on a permit application from Peter Swanton to open an Irish Pub at 50B South Main Street which would serve beer and wine, and provide entertainment such as poetry readings, live and recorded music, comedy nights and storytelling. The Ukiah office* of Gflbreath and Park Optonetry at 102 Scott St. have expanded and they're celebrating with an open house Friday, Feb. 4 from noon to 5 p.m. Associated Vintage Group which just sold its Hopland winery - announced this week that it got court approval for a working capital loan from General Electric Capita] Corporation which will give AVO a $10 million line of credit and allow it to continue is business during its Chapter 11 proceedings. AVG has more bankruptcy hearings coining up Feb. 4 and Feb. 10 in federal court in Santa Rosa. At one hearing the company will ask to be allowed to continue to pay 11 key employees of the company and in the other it will seek to limit the number of creditors and other interested people it has notify during the bankruptcy proceedings and ask for the ability to use e-mail in its legal proceedings. Intel to build wafer plant Dow JotMt News Strvtc* SANTA CLARA (Dow Jones News) - Computer-chip giant Intel Corp. said Tuesday it will invest $2 billion to build its first high-volume manufacturing facility for 300 millimeter wafers in Chandler, Ariz. Intel expects to begin production in 2001 with 0.13- micron process technology with copper metallization on 200-millimeter wafers, the industry standard size for the silicon slices. The company will then shift production to 300-millimeter wafers. The larger wafers are expected to reduce manufacturing costs per wafer by more than 30 percent, Intel said. Intel estimates that the new facility will create 1,000 jobs over the next five to eight; yean in Chandler, where it currently has 8,150 employees. Intel, Santa Clara, Calif., also said it is continuing id evaluate other sites for addi-; tional manufacturing capacity,. including its site in New Mexico. Money Continued from Page 3 compared with $54.3 billion, or 2.6 percent of assets, in 1995. As a result, even funds that don't claim to be tax-managed are under pressure to give a nod to tax issues. Analysts are increasingly tracking returns both before and after tax and grading a fund's tax efficiency by calculating the percent of total return that a hypothetical investor retains after paying tax. The Vanguard Group, for one, said late last year that it will report pretax and after-tax returns for 47 of its equity and balanced funds. And legislation pending in Congress would require funds to figure their after-tax returns. After-tax numbers are at best a rough guide, however. Actual tax will depend on an individual's other income and deductions, and most measurements assume that tax is paid at the top federal income or capital gains rate, with no accounting for state tax. The tax is also typically based on distributions to an investor while holding a fund, not on tax that may be due on sale. ; Calculations by fund tracker Morningstar show that keeping an eye on tax performance can pay off without sacrificing investment performance (table). But remember, a fund's claim to tax efficiency is only one factor to consider. Advises Russ Kinnel, who follows tax-managed funds at Morningstar:, "A mediocre-run fund either before or after tax is still mediocre." . Barbara Reid is a Certified Financial Planner professional and an Enrolled Agent licensed by the US Department of Treasury to represent taxpayers before all administrative levels of the IRS. She has an office for tax and financial services in Ukiah. For more information, call 1800-559-5377. Weight Watchers is here for you! Mow the plan •vwyofw'! taNdng about is In your town. A On l*2>3Succtu,ourwifeKplin«vtr,«ijoxanx food you craw and still k>M w»bj hti Q Try<H<rw^n>)wippro^ch > tywtl|htlo« tlw !•% dMhmm".«f|B^rn O ConitiKiM^ditdMlhindlolnupforournext . . Wed. Feb. 2.2000 • 6:36 RotorAMby YWh A Community Cantor •—'"•'•-• Since 1950 EFFERS Imagine... SPAS • AND POOLS We Do Aaahhs ft Ooohht! 4 • 462-7433 mmmm. The feeling! , NEW YEAR'S RESOLUTION #472 I will never b? late. Double your minutes: ,95 a month includes 120 minutes a month month includes 240 minutes a month Plus: > $ 9,95 ShareTalh -95 a month includes oOU minutes a month phones You could make a New Year's resolution to always be on time. But it would be much easier to be courteous, and call ahead if you're running late, In which case, a cellular phone could really come in handy. U& Cellular nt wear fOafk talk ma* kmC I707IW6-1W3 IBNghMfyl |707)4«-WM (7Q7I4IH7B KNiMMTK

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