Millennial Real Estate Wave

Volume 45, Number 14 $1.50 November 9-15, 2015www.slenterprise.com

Brice WallaceThe Enterprise

see MILLENNIALS pg. 2

see PTAC pg. 2

OF NOTE

Interest on the way back up?

Speaking before a House Finan-cial Services Committee hearing last week, Federal Reserve Chairwoman Janet Yellen said the U.S. central bank may raise short-term interest rates at its mid-December meeting, but emphasized no decision has yet been made.

Industry News Briefspages 7-8

Business Calendarpages 9, 11, 15

Real Estate Sectionpages 22-23

see WHITECLOUDS pg. 21

Sheena SteedmanThe Enterprise

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Nathan Anderson (5(6789:;;97<7=(5(>?@A?>BCDEC@?A9DFG6;8:(!FC@A(=77("?H@((5(!CI@J(87K(5(!?>LM(!

Whiteclouds, a 3D printing services company located in Business Depot Ogden, showcased what it is touting as the largest 3D printing facility in the world at an open house recently. The new, 60,000-square-foot facility features 24 full-color, three-dimensional printers from 3D Systems of Rock Hill, South Carolina. “Our new facility is designed for world-class manufacturing,” said Jerry Ropelato, CEO of Whiteclouds. “Its location is very

strategic and our layout is conducive to lean manufacturing principles and high-quality production.” The company’s recent expansion more than doubles its full-color printing capacity and makes Whiteclouds the largest full-color 3D print services provider in world, according to Ropelato. Whiteclouds is working with organiza-

Whiteclouds CEO Jerry Ropelato points out features on a 3D architectural model during an open house at the company’s newly expanded facility in Ogden.

Ogden home to world's biggest 3D printer

Say “regulatory changes” and a typical business crowd will start to cringe in antici-pation of bad news. But Steve Koprince recently told an audience in Sandy that a few changes in government-contracting statutes and regulations represent huge opportunities for small businesses. Steve Koprince, managing partner at Koprince Law LLC, said more companies can get involved in government contracting through an overhaul of subcontracting limi-tations, a proposed universal mentor-proté-gé program, changes to the women-owned small-business program, and an initiative to ensure that large prime contractors comply with their subcontracting plans. “I go around and give a lot of talks

around the country. Every now and then, I get someone who says, ‘Oh, now, it’s a lawyer on the agenda. You’re here to scare us with all this scary compliance stuff,’” he told the crowd. “But this is not that presentation. This is really a presentation about opportuni-ties that are coming — new rules that I think you can leverage in your business if you understand them; new programs and new interpretations,” Koprince said at the PTAC Symposium, presented by the Utah Procurement Technical Assistance Centers. For example, an U.S. Small Business Administration (SBA) proposed rule would change the way that compliance with subcontracting limits is calculated and

Millennial wave making mark on Utah real estate

Gov't regulatory changes may mean opportunities for small businesses

Utah millennials –– the generation born between the 1980s and 2000 –– are already making waves in the local real estate indus-try, and on are the verge of becoming a tsunami. According to Dave Robison, aka “Utah Dave,” president of the Salt Lake Board of Realtors and owner of Gobe Realty, the mil-lennials’ reputation for not being ready to buy and only renting is no longer true. “They are ready to have homes of their own,” he said. Among the reasons encourag-ing them to buy homes is that bank interest rates haven’t been this low for a very long time, Robison explained. Millennials cur-rently make up 40 percent of Utahns buying homes. Nationally, the oldest millennial is 35 years old, while the majority of millenni-als are now 25 years old. By 2000, this new group of consumers already outnumbered baby boomers in Utah. According to the U.S. Census Bureau, Utah is the youngest state in the nation with 32 percent of the population under 32 years old. What is even more significant is that the propor-tion of Utah’s population of millennials is the second-highest in the nation behind Washington, D.C. Based on 2012 census estimates, governing.com reported that 32 percent of Utahns are millennials, compared to the lowest percentage, in Maine at 23.8 percent. According to realestate.aol.com, after the Great Recession hit, the next great wave of first-time homebuyers –– the mil-lennials –– couldn’t rise to the occasion; this generation was either still in school, trying to bolster their careers or moving back with their parents. Although fashion-ably late, they have finally made their entrance onto the real estate scene. Robison’s experience has been that mil-lennials are not keen on one location, but are open to the suburbs, like the ones in southwest Salt Lake County. “They are looking for a combination of good cost,

2 · November 9-15, 2015 · The Enterprise - Utah's Business Journal

PTACfrom page 1enforced for small-business set-aside contracts. A change in 2013 allowed small businesses to meet their own performance require-ments by subcontracting to “simi-larly situated entities” for services and supplies. The proposed rule would exempt small-business set-aside contracts between $3,000 and $150,000 from limitations on subcontracting requirements. Koprince said an example would be that if a government entity awards a $2 million con-tract, the prime contractor is pro-hibited from subcontracting more than half the amount unless the subcontractor is a “similarly situ-ated entity,” as defined by the rule. It allows companies to meet performance requirements by sub-contracting with other small busi-nesses, giving them the benefit of a joint venture without actually forming a joint venture. “That’s one of the things I’m talking about in terms of oppor-tunity for a small business to per-form a contract that maybe before was a little bit out of reach, a little too large,” he said. “Maybe now you’ll be able to do this without having to joint venture with some-body.” The proposal “allows you to structure teams, dividing work among two, three, however many small businesses that you want — you’re not limited to one similarly situated entity — and count that toward your own workforce as the prime contractor. It also enables you, if you’re someone who plays in the subcontractor arena, to maybe team up with small primes to help them reach the 50 percent compliance as their similarly situ-

ated entity,” Koprince said. But Koprince warned that vio-lations come with a stiff penalty, starting at $500,000. Another proposal would expand mentor-protégé programs, allowing all small businesses — not just those with so-called “8(a)” designations — to get involved. Any firm could qualify as a pro-tégé if it is small and any for-profit business — large or small — may qualify as a mentor. The agree-ments between the two could be in place for up to three years, and they could pair as a joint venture as a small business for any prime contract or subcontract for which the protégé qualifies as “small.” “If you’re a small business or a large business, this is going to affect you … if you’re willing and interested to take advantage of it,” Koprince said. “It’s a big change to the procurement landscape. … It’s what 8(a) companies have been enjoying for many years, and now the SBA is proposing to make this benefit available to every small business in America — a really big change.” Koprince suggested that busi-nesses start to consider possible mentor-protégé programs. “This is a time to start those conversations, at least start think-ing about who your prospective mentor/protégé might be, even start negotiating the contours of an agreement, so that you are primed to take advantage of that at the earliest opportunity,” he said. The symposium, in its 10th year, also featured other keynote presentations; a reverse tradeshow; and breakout sessions on overall small-business government con-tracting, doing business with U.S. Army Corps of Engineers, transit and highway contracting, and find-ing contracting opportunities.

a yard, modern look and close proximity to work.” He also said that many of them are looking for townhouses and condos –– places they can afford, as many millenni-als are only on their first or second job. “There are a ton of people moving in from out of town,” said Robison. He acknowledged that job opportunities, like those in the tech industry, are driving a lot of people here. “The valley will increase by another million by 2040,” he added. Lawrence Yun, the chief econ-omist at the National Association of Real Estate, published a recent article that said, “Limited job prospects, student debt and flat wage growth have combined with tight credit conditions and low inventory to price millennials out of some of the top cities, such as New York and San Francisco.” As an alternative, the NAR reported in 2014 that millennials are moving to places where jobs and houses are more obtainable. Salt Lake City and Ogden were listed on the top 10 list out of 100 markets that were forecast to grow in millennial home buying for 2015. In a report issued by the White House called “15 Economic Facts About Millennials,” the President’s Council of Economic Advisers reported that the mil-lennial generation will continue to configure the nation’s econo-my “for decades to come” and baby boomers will be retiring and some even moving to assisted liv-

ing facilities. For this reason, the council encouraged real estate investors to pay attention to where the next generation will be buying real estate. Concerning what attracts millennials, the NAR said, “They value their neighborhoods as much as their homes. They also prefer open, single-story floor plans, wood or tile floor-ing and environmentally friendly ‘green’ features.” “They like to live in a more urban, walkable neigh-borhood like Sugar House with access to public transportation and walking distance to social events. They like spaces that are newer or remodeled already,” said John Patton, a licensed agent broker for 30 years, located in Salt Lake City at Summit Sotheby’s International Realty and owner of Patton Group Properties. He added, “They are very knowledge-able buyers. I think they study up on how to buy before they call a Realtor.” Outside developers known

for redesigning and renovat-ing rental properties and mar-keting them to millennials have tapped into the Utah market. Recently, Timberlane, a Seattle/Los Angeles-based real estate investment firm which has been called “The Hipster Real Estate Developers” by Bloomberg News, purchased Pierpont, 250 S. 300 W., Salt Lake City, an old-fashioned, eye-catching, brick building with quirky stores and close, “happening” coffee shops. They also bought The Mercer, located at 556 E. 300 S., Salt Lake City, known for its loca-tion by Trolley Square –– with a Whole Foods embedded –– and t light rail. The investments’ profile seems to fit with past invest-ments made by Timberlane in both Seattle and Los Angeles as being ideally located with poten-tial for modern upgrades catering to a millennial’s lifestyle. The firm has not yet announced its plans for its Salt Lake City properties.

MILLENNIALSfrom page 1

Although the income tax fil-ing season is still a few months away, Utah employers need to prepare to meet new electronic filing requirements. The 2015 Legislature passed a law requiring all employers to electronically file their state annual withholding rec-onciliations, including W-2 and 1099 forms, by Jan. 31, 2016. “This will be a significant change for about 60,000 busi-nesses,” said Charlie Roberts, spokesman for the Utah State Tax Commission. “Of the more than 80,000 Utah employers, only about 25 percent filed withhold-ing documents electronically in 2015.” The new law also prohibits the Tax Commission from issu-ing income tax refunds before March 1, unless both the employ-er and the employee have filed all

required returns and forms. “In short, the state must receive the required electronic withhold-ing reconciliation, along with the W-2 and 1099 forms from an employer and have a return filed by an individual taxpayer before a tax refund can be issued,” Roberts said. The Tax Commission has sent notices of the new law to all busi-nesses and will be sending addi-tional information in November. The agency is also working with business organizations and other state agencies to notify employ-ers. “We will be conducting in-person and web training sessions for businesses later this year,” Roberts said. Detailed informa-tion on the new law and how to comply is found at tax.utah.gov/training.

Utah employers now required to file payroll tax info electronically

The past year has seen a 7.7 percent increase in home prices along the Wasatch Front, accord-ing to CoreLogic, a global proper-ty information, analytics and data-enabled services provider. The data are included in CoreLogic’s Home Price Index (HPI) and HPI Forecast for September. On a month-over-month basis, home prices, including dis-tressed sales, increased by 0.1 percent in September compared with August. According to the CoreLogic

HPI, home prices nation-wide, including distressed sales, increased by 6.4 percent in September compared with September 2014 and increased by 0.6 percent in September com-pared with August. The CoreLogic HPI Forecast indicates that home prices are projected to increase by 4.7 per-cent on a year-over-year basis from September to September 2016, but could potentially dip slightly month-over-month from September to October 2015.

Home prices still going up

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Rio Tinto Kennecott has taken steps to reduce the work-force at its Utah operations. The company has reduced its existing support services staff by 65 jobs, moved 40 employees into alter-nate roles within the business and said it will not hire for 74 open

positions. The staff reductions impacted salaried employees who support-ed plant operations and no union-represented employees were part of the changes. The company is offering severance packages and employee assistance to employ-

ees whose roles were eliminated. The changes reduce costs amid a marked decline in com-modity prices and a weak outlook for metals prices and redirect the Kennecott team toward critical business needs, according to a release from the company. “We know these decisions have personal consequences for the people involved and their families as well as the employees who remain and we are commit-

ment to helping everyone manage through this difficult transition,” said Nigel Steward, managing director at Rio Tinto Kennecott. “These changes are necessary to make sure our business stays strong and we continue to con-tribute to the state’s economy during an especially challenging time for our industry.” There are currently 2,000 employees working for Kennecott in Utah.

Salt Lake City is the sixth-best market to own rental prop-erty in for the western U.S. and eighth-best in the country as a whole, according to a recent report from All Property Management, an online network of property management companies in the U.S. The report, the second-quar-ter 2015 version of the quarterly “Rental Ranking Report,” gave Salt Lake City its ranking primar-ily due to its solid year-over-year rental price and property value appreciation rates — 5.08 per-cent and 5.04 percent, respective-ly. Salt Lake City also benefited from a moderately-low vacancy rate (5.3 percent) and median age of housing inventory (50 days). Also cited was its Utah’s 4.27 percent annual job growth rate — the second-highest job growth rate in the country in the second

quarter. Taken together, these sta-tistics indicate that demand for Salt Lake City housing is very strong and will likely persist for quarters to come. Other markets currently offer-ing high returns on rental hous-ing include traditional real estate powerhouses like San Francisco and Boston, as well as mar-kets like Nashville, Tennessee; Columbus, Ohio; and Raleigh, North Carolina, that are not usu-ally thought of as being lucrative for rental property owners.

Metal prices force Rio Tinto Kennecott workforce reduction

Tute Genomics, a Provo-based clinical sequencing informatics company, has announced the acquisition of key assets of Knome, a human-genome interpretation company in Cambridge, Massachusetts. Knome’s systems and processes have been at the forefront of several of important commercial advancements in human genetics. Knome was co-founded in 2007 by renowned geneticist and Harvard professor George Church, who recognized a substantial need for genome interpretation technology as the cost of sequencing was rapidly decreasing. The company has received national recognition in fields of personal genomics and genome research services. Knome’s signature technology is knoSYS, a genome interpretation software platform. “Knome’s software is a testament to the extraordinary foresight and ingenuity of its scientists and engineers, as well as the remarkable amount of financial support the company has achieved over the years,” said Dr. Reid Robison, CEO of Tute Genomics. “We are tremendously excited and honored to be in a position to offer clinical labs and health systems this pioneer-ing technology integrated within Tute’s cloud-based genome informatics solution.” Tute Genomics provides a cloud-based genome informat-ics solution to help diagnostic labs and health systems process genome sequencing data. It is a StartupHealth and Healthbox portfolio company, and has received strategic investments from large institutions such as Intermountain Healthcare.

SLC is 6th-best rental market

Tute Genomics acquires Knome


see COMPETITION pg. 16

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Utah’s Olympic connection has netted another pair of top-level competitions which will mean an economic boost for the state. Salt Lake City will host the 2016 Olympic team trials for weightlifting and the 2017 USA Fencing National Championships and July Challenge — both at the Calvin L. Rampton Salt Palace Convention Center. Weightlifters will come to Salt Lake on May 5-8, 2016, and the fencers on July 1-10, 2017.

The weightlifting meet is the final competition to determine who will become members of the team to represent the United States at the 2016 Olympic Games in Rio de Janeiro. Thirty of the USA’s top athletes will compete in the trials. In conjunction with the Olympic team trials, Salt Lake City will also host the 2016 USA. Weightlifting National Championships. The Olympic team trials will occur during

Regent 200 LLC, a partner-ship between investor-develop-ers Form Development and The Pelorus Group, has completed acquisition of property in down-town Salt Lake City for the con-struction of the Regent Street Hotel, envisioned by its develop-ers to be the area’s finest hotel once completed. The site is the northeast cor-ner of 200 South and Regent Street, directly north of down-town’s Gallivan Center. The development partners both have Salt Lake City offices from which they manage both in-state and out-of-state investments. Phillip Eilers, international business and industrial special-ist with Cushman & Wakefield Commerce, represented the buyer. “When completed, this will be the seventh-tallest build-ing in Salt Lake,” said Eilers.

“It will have an unusually thin profile, similar to the attractive precedent at the Monaco Hotel. That said, the project will be the first of its kind in Salt Lake because of its mixed uses and spectacular roof-top bar, patio and swimming pool.” Existing laws permit a maxi-mum 100 feet of vertical con-struction for sites of this type within Salt Lake’s central busi-ness district. The Regent Street Hotel developers are proposing an increase of 230 feet to that limit, climbing 22 floors up its 330-foot tower. Salt Lake City’s Planning Commission approved the hotel design and height vari-ance in their commission meeting early last month, giving develop-ers the final green light to move forward with the purchase and

one afternoon of the weekend’s events. While this will be the sec-ond time in four years that Salt Lake City has hosted weightlift-ing’s annual showcase, it will be the first time the city has hosted a U.S. Olympic Team Trials for a summer sport. “We are delighted to be returning to Salt Lake City for a second time,” said USA Weightlifting CEO Michael

Two sports events bringing $$$ to Utah

see HOTEL pg. 16

High-rise hotel planned for downtown Salt Lake

When complete, the Regent Street Hotel in downtown Salt Lake City will rise 330 feet and 22 stories on the corner of 200 South and Regent Street.

TruAmerica Multifamily and The Guardian Life Insurance Company of America have part-nered to purchase two apartment properties in Salt Lake City for $102 million. TruAmerica has acquired the 486-unit Somerset Village Apartment Homes in West Valley City and the 440-unit Southwillow Apartments in West Jordan from San Francisco-based Jackson Square Partners. Both properties are of mid-1980s vin-tage and located seven miles from one another on Redwood Road. Collectively, the properties are 99 percent leased. The transaction comes on the heels of TruAmerica’s acquisition last month of Settler’s Point, a 416-unit community in Salt Lake City from Equus Capital Partners Ltd. in a transaction valued at $46 million. The purchases bring the total

number of units under manage-ment to 1,657 for TruAmerica in the Salt Lake City area. The Los Angeles-based company entered the market in May with the acquisition of the Crossing at Daybreak, a 315-unit apart-ment home community in South Jordan. Since its founding two years ago, TruAmerica has been one of the most active buyers of multifamily assets in the United States. Salt Lake City has been a prime focus for the company as it has grown into one of the most diverse and dynamic employment markets in the nation, rivaling that of larger markets like San Francisco and New York. “We see Salt Lake City as the perfect apartment market,” said Greg Campbell, TruAmerica’s senior managing director of acquisitions. “We find that 18- to-31-year-olds are much more

likely to rent than to buy, and although Salt Lake City is one of the most affordable rental mar-kets in the nation, the number of people flocking to the region will create upward pressure on rents for high-amenity, quality housing near jobs, shopping and dining.” TruAmerica said in a release that it will invest an additional $8 million to reposition the two properties to meet an increasing renter pool of young profession-als and working families that cur-rently live and/or are relocating to Salt Lake City. The renovations will include new countertops, appliance packages, cabinets and flooring as well as such common area upgrades as community out-door kitchens, dog parks and pool enhancements. James Wadsworth and Greg Barratt of Berkadia represented both the buyer and seller in the transaction.

Two large SLC-area apartment complexes sold


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CORPORATE FINANCIAL REPORTS The following are recent financial reports as posted by selected Utah corporations:

Zions Zions Bancorporation, based in Salt Lake City, reported net earnings applicable to common shareholders of $84.2 million, or 41 per share, in the third quarter. That compares with $79.1 mil-lion, or 40 cents per share, for the same quarter a year earlier and a net loss of $1.1 million, or 1 cent per share, in the second quarter. The second quarter includ-ed a $137 million loss from the sale of remaining collateralized debt obligation (CDO) securities. Excluding that loss, net earnings were $83.4 million, or 41 cents per share, for the second quarter. The company said overall credit quality remained in line with expectations, with moderate deterioration in energy loans and continued strength in other loans. Energy loan net charge-offs were $17 million during the third quar-ter, but there were none in the second quarter. Net interest income grew slightly from the prior quar-

ter. Loans held for investment increased $89 million during the quarter. Excluding the effect of attrition in energy-related loans and the national real estate port-folio, loans increased $285 mil-lion during the third quarter. Zions operates banking busi-nesses in 11 states. “We’re continuing to make solid progress in achieving our goals with respect to improved operating efficiency while build-ing a very strong balance sheet and investing in systems and pro-cesses that will allow us to pro-vide exceptional service to our customers,” Harris H. Simmons, chairman and chief executive officer, said in announcing the results. “While loan growth has been sluggish in the current environ-ment, we are encouraged by the company’s credit quality metrics, with only modest deterioration in the level of classified loans and net charge-offs that are in line to better than peer average levels. The company’s funding profile, loss reserves and capital levels also remain very strong relative to peers.”

Simmons said the company has received regulatory approval to consolidate its seven subsid-iary banks under a single national bank charter, which is expected to be completed by year-end. “We will continue to empha-size our locally oriented leader-ship structure and the power of our strong local brands in each market we serve. We are simulta-neously streamlining our risk and credit organizations and enhanc-ing local credit decision-making authority. The consolidation of our bank charters will facilitate a simpler and more responsive operating environment and the realization of efficiencies more quickly and in greater measure than is possible under the status quo.”

Headwaters Headwaters Inc., based in South Jordan, reported net income of $126.6 million, or $1.72 per share, for the fourth quarter ended Sept. 30. That compares with $16.5 million, or 22 cents per share, for the same quarter in 2014. Revenue in the most recent

quarter totaled $272.7 million, up from $245.9 million in the year-earlier quarter. For the full fiscal year, net income totaled $130.8 million, or $1.73 per share. That com-pares with $15.9 million, or 20 cents per share, for 2014. Revenue for the full fiscal year totaled $895.3 million, up from $791.4 million for 2014. Headwaters provides prod-ucts, technologies and services through its coal combustion products, building products and energy businesses. “We are very pleased with our strong fourth quarter and fiscal year performance, increas-ing adjusted EBITDA (earnings before interest, taxes, deprecia-tion and amortization) by 20 percent, and finishing in the upper range of our guidance,” Kirk A. Benson, chairman and chief executive officer, said in announcing the results. Benson noted that the com-pany had organic growth of nearly 11 percent in the fourth quarter and 9 percent for the year, with bolt-on acquisitions accounting for 4 percent growth in the year.

Extra Space Storage Extra Space Storage Inc.,

based in Salt Lake City, reported funds from operations (FFO) of $106.8 million, or 81 cents per share, for the quarter ended Sept. 30. That compares with $89.1 million, or 72 cents per share, in the same quarter in 2014. Net income attributable to common stockholders totaled $71.7 million, or 58 cents per share, in the most recent quarter. That compares with $54.2 mil-lion, or 47 cents per share, in the year-earlier quarter. Extra Space Storage is a self-administered and self-managed real estate investment trust. It owns and/or operates 1,170 self-storage stores in 36 states; Washington, D.C.; and Puerto Rico. The company is the second-largest owner and/or operator of self-storage stores in the United States and is the largest self-storage management company in the nation. “The storage sector as a whole is experiencing favor-able operating conditions, and our mobile technology contin-ues to expand our advantage over smaller operators,” Spencer F. Kirk, chief executive officer, said in announcing the results.


Industry Briefs are provided as a free service to our readers. Company news information may be sent to [email protected]. The submission deadline is one week before publication.

DIVIDENDS • Zions Bancorporation, Salt Lake City, has announced that its board of directors has declared a regular quarterly dividend of 6 cents per common share. The dividend is payable Nov. 25 to shareholders of record Nov. 18. The board also declared the regu-lar quarterly cash dividends on the company’s various perpetual preferred shares. The cash divi-dends on the Series A, F, G, H, and I shares are payable Dec. 15 to shareholders of record Dec. 1. The Series J cash dividends are payable March 15, 2016, to share-holders of record March 1, 2016. • Nu Skin Enterprises Inc., Provo, has announced that its board of directors has declared a quarterly dividend of 35 cents per share. The dividend will be paid Dec. 9 to stockholders of record Nov. 20. The company also said the board has increased its stock repurchase authorization to $500

million, up from about $260 mil-lion. • Questar Corp., Salt Lake City, has announced that its board of directors has approved a 21-cent quarterly common stock cash dividend. The dividend is payable Dec. 14 to shareholders of record Nov. 20. The amount is the same as the previous quar-ter’s dividend. It is the company’s 284th consecutive dividend.

ENERGY/NATURAL RESOURCES • Blue Raven Solar, American Fork, has announced that it has received a “signifi-cant” investment from Peterson Partners, a Salt Lake City-based investment firm. Blue Raven Solar did not announce the spe-cific amount. It said the funding will enable it to build out infra-structure as it continues its rapid nationwide growth. Blue Raven specializes in clean energy solu-tions to residential customers.

FINANCE • Lendio, South Jordan, has hired Joel Rackham as vice president of channels. He will oversee the strategy, program and execution of Lendio’s chan-nels organization, which includes partner and affiliate program design, acquisition, on-boarding and ongoing relationship manage-ment. Rackham recently served as the vice president of strategic accounts at MarketStar.

GOVERNMENT • Salt Lake County recently unveiled the county’s new com-pressed natural gas (CNG) fueling station. County Fleet Management director Greg Nuzman said that Fleet Management maintains large diesel trucks that have, until now, contributed significantly to both carbon dioxide and nitro-

gen oxide emissions, two tailpipe sources of both winter and sum-mer air pollution. The switch to CNG will allow the county to displace 500,000 gallons of die-sel fuel, resulting in a reduction of 3.1 million pounds of carbon dioxide from the air, an amount equivalent to taking 310 passen-ger vehicles off the road each year. Nitrogen oxide emissions are expected to fall 20 percent to 40 percent. The move also is expected to result in savings in fuel costs. The new station was constructed by Clean Energy, a publicly traded company that operates more than 500 natural gas fueling stations in 43 states. Clean Energy is also expecting to open a new parts warehouse in Salt Lake County.

LAW • Durham Jones & Pinegar, Salt Lake City, has hired four attorneys for three of its Utah offices. James Larson joins the firm’s Lehi office as a counsel attorney. He has nine years of experience ranging from general counsel at HZO, corporate coun-

sel at International Material Data System (IMDS) and contracts manager at ATK. Colin Schmutz

is a new associate attorney on the Lehi team. Prior to joining DJP, Schmutz worked as an attor-ney’s assistant and filing clerk at different times for Hill, Johnson & Schmutz Law. His education includes graduating from the University of Utah’s S.J. Quinney College of Law in 2015. He also earned an undergraduate degree in English from Brigham Young University. Lyndon Bradshaw is an associate attorney in the Salt Lake City office. He graduated in 2014 from the J. Reuben Clark Law School at Brigham Young University. Tim Hemming is a new associate attorney in the DJP St. George office. He graduated in April from the J. Reuben Clark Law School at BYU. • Ray Quinney & Nebeker PC, Salt Lake City, has formed a Cybersecurity and Privacy Practice Group. It is led by John A. Adams, the firm’s immedi-ate past managing director, and Elaina M. Maragakis, a member of the firm’s Executive Committee. Both are members of the firm’s Litigation Section. Another mem-ber of the Litigation Section, Beth J. Ranschau, also practices in the new group.

MANUFACTURING • Universal Forest Products, a Michigan-based wood prod-ucts manufacturer, has selected Magna Township for a manufac-turing site. A ribbon-cutting was held Nov. 2 at 3909 S. 8000 W., Magna. Universal has facilities throughout North America.

PHILANTHROPY • America First Credit Union recently donated collected food items from its 11th annual Community Food Drive to Utah Food Bank. With the help of the community and employees, the credit union collected 11,033 pounds of non-perishable food items and 3,886 pounds in tur-keys for a total of 14,919 pounds of food. The items will be dis-tributed to local food pantries in advance of the holiday sea-son. The drive was held at all branch locations Sept. 14-Oct. 24. America First started the commu-nity food drive in 2004 and, with the help of employees and mem-bers, has collected nearly130,000 pounds of food. • The Sandy Area Chamber of Commerce is helping col-lege students gather teaching supplies for children in Russia, Ukraine and Lithuania for a 2016 summer abroad program and is seeking donations of suggested items. Donations can be brought to the chamber office or to any chamber event through Dec. 18. Information about suggested items is available by emailing

[email protected] or calling (801) 566-0344.

REAL ESTATE • Hamlet Cos., Murray, has promoted principal broker Phil Mosher to vice president of sales and marketing. Mosher has more than 26 years of real estate expe-rience, of which 11 years have been with Hamlet Homes. He served as a licensed agent in New Jersey; a broker in California; and worked for Ryland Homes, Equis Commercial and several private brokerages.

RETAIL • Advanced Hearing Center will have a grand re-opening event Nov. 10-12. It recently relo-cated from Sugarhouse to 310 E. 4500 S., Suite 110, Murray. A ribbon-cutting is set for Nov. 10 at 10:30 a.m. Hours for the re-opening are 9 a.m.-5 p.m. People attending the event can receive a free, onsite hearing test. A draw-ing will be held each day for two individual hearing aids.

RIBBON-CUTTINGS • Advanced Hearing Cen-ter, 310 E. 4500 S., No. 110, Murray. A Murray Area Chamber of Commerce event. Nov. 10, 10:30 a.m. • Brown Floral, 2233 E. Murray Holladay Road, Holladay.

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Calendar

see CALENDAR page 11see CALENDAR page 11

Calendar listings are provided as a free service to our read-ers. Information about upcoming events may be sent to [email protected]. The submission deadline is one week before pub-lication.

Nov. 10, 7 a.m.-1 p.m. 2015 Utah Law Day, a Sandy Area Chamber of Commerce event featuring tracks about insur-ance, construction, employment, and business and estate planning. Location is Megaplex Theatres at Jordan Commons, 9400 S. State St., Sandy. Details are at sandy chamber.com.

Nov. 10, 7:15 a.m. ACG (Association for Corporate Growth) Utah Breakfast Meeting. Activities include networking 7:15-7:45 a.m., followed by breakfast and speaker 7:45-9 a.m. Presenter is Lance Allred, athlete, author, speaker and the first legally deaf player in the NBA. Location is Little America Hotel, 500 S. Main St., Salt Lake City. Details are at www.acg.org.utah.

Nov. 10, 7:30-9 a.m. Breakfast With Champions, a West Jordan Chamber of Commerce event. Speaker is Shawn Wickart. Location is West Jordan Community Room, 8000 S. Redwood Road, West Jordan. Free for the first 40 respondents. Details are at westjordanchamber.com.

Nov. 10, 7:30 a.m.-1:30 p.m. Texas Instruments Leadership Summit: College and Career Readiness in STEM Education. Chris Dede and Timothy E. Wirth will discuss transformational approaches to STEM education. Other speakers include Jeff McCalla, Tamara L. Goetz and Jeff Lukens. Location is University Guest House & Conference Center, 110 S. Fort Douglas Blvd., Douglas Ballroom West, Salt Lake City. Details are available by contacting Donald Tunstall at (214) 479-2387 or [email protected].

Nov. 10, 8 a.m.-4:45 p.m. 10th Annual State Conference of the National Alliance on Mental Illness (NAMI) Utah. Morning key-note speaker is Dr. Michael Murphy, medical director for HCA Behavioral Health Services, discussing “Consumer-Driven Recovery: Peer Support in the Hospital Setting.” Lunch key-note performer is Chris Wonder Schoeck, “professional old time strongman.” Workshops will focus on treatment and recovery, peer and family, advocacy, and preven-

tion. Location is Utah Cultural Celebration Center, 1355 W. 3100 S., West Valley City. Cost is $45 for NAMI members, $60 for non-members, $70 for professionals/CEU credits. Registration can be completed at http://namiut.org/conference.

Nov. 10, 8:30-10 a.m. UTC Executech Clinic titled “Tradeoffs in IT or Making Your IT Work for You,” a Utah Technology Council (UTC) event. Location is Executech, 10813 S. River Front Parkway, Suite 410, South Jordan. Free for UTC mem-bers, $40 for nonmembers. Details are at utahtech.org.

Nov. 10, 9 a.m. “Flip the Switch” Event, cel-ebrating the installation of a 972-panel solar PV array and eight electric car charging stations at the headquarters of sleep prod-ucts company Malouf. Array will generate 315 kilowatts. Activities include breakfast and media inter-views at 9 a.m., presentations and “Flip the Switch” at 10 a.m., and vendor giveaways and tour at 11 a.m. Location is Malouf, 1525 W. 2960 S., Nibley.

Nov. 10, 11:30 a.m.-1 p.m. Fall Women in Business Lunch, a Murray Area Chamber of Commerce event. Speaker Ross McGarvey will discuss “Smart Startups: Prioritize Spending in Your Business.” Location is Home2 Suites, 4927 S. State St., Murray. Cost is $15 prepaid, $20 after Nov. 9 or at the door. Details are at murraychamber.org.

Nov. 10, 11:45 a.m.-1 p.m. RSVP Monthly Luncheon, a Utah Hispanic Chamber of Commerce event. Jorge Becerra, managing associate at MassMutual Intermountain, will discuss “Financial Education.” Location is Granite School District, 2500 S. State St., D-108, Salt Lake City. Cost is $15 for members, $17 for nonmembers. Details are at www.utahhcc.com.

Nov. 10, noon-1 p.m. SBIR 101. The SBIR-STTR Assistance Center (SSAC) staff will provide an overview of the SBIR-STTR (Small Business Innovation Research and Small Business Technology Transfer) program and how the federal grant program helps small technology companies with their research and development. Location is Salt Lake Community College’s Miller Campus, Corporate Partnership Building, Third Floor, Room 333, 9750 S. 300 W., Sandy. Free. Registration can be completed by sending your name, number of attendees and best contact

phone number to [email protected].

Nov. 10, 2-4:30 p.m. NIH SBIT-STTR Workshop. Event will feature information about preparing, submitting and tracking applications in the Small Business Technology Transfer and Small Business Innovation Research process. Location is Salt Lake Community College’s Miller Campus, Miller Corporate Partnership Center, Room 333, 9750 S. 300 W., Sandy. Free. Also offered Nov. 12, 8:30-11 a.m., at the same location. Registration begins 30 minutes prior to each session. Details are at http://www.innovationutah.com/sbir/work-shops/.

Nov. 10, 5-7 p.m. Evening Social, a Holladay Chamber of Commerce event open to members and nonmembers. Event includes special menu and drink deals and prize giveaways. Location is Pars Cuisine, 4233 Highland Drive, Holladay. Free for members, $5 for nonmem-bers. RSVPs can be completed at [email protected].

Nov. 11, 11:30 a.m.-1 p.m. Connect 4 Lunch, a Sandy Area Chamber of Commerce event. Location is Los Garcia Mexican Restaurant, 8745 S. 700 E., Sandy. Cost is $15 for mem-bers, $20 for guests. Details are at sandychamber.com.

Nov. 11, 11:30 a.m.-1 p.m. UTC Lunch & Learn, a members-only event presented by the Utah Technology Council (UTC). Location is Oracle Corp., 5828 Park West Road, Highland. Details are at utahtech.org.

Nov. 11, 3-5 p.m. “Your Competitive Advantage: Use It To Grow,” a Salt Lake Chamber “Business Essentials” event. Location is the Salt Lake Chamber, 175 E. 400 S., Suite 600, Salt Lake City. Cost is $10. Details are at slchamber.com.

Nov. 11, 5-7 p.m. Business After Hours Mixer, an Ogden/Weber Chamber of Commerce event. Location is Northern Utah Rehabilitation Hospital, 5825 Harrison Blvd., South Ogden. Cost is $10. Details are at ogdenweberchamber.com.

Nov. 12, 8-9:30 a.m. UTC KPMG Clinic titled “Privacy and Cyber Security: Protecting and Securing Data in a Cloud-Based World,” a Utah Technology Council (UTC) event. Presenter is David Hall, direc-tor of KPMG LLP. Location is

Thanksgiving Point, 3003 N. Thanksgiving Way, Rose Room in the Water Tower Plaza, Lehi. Free for UTC members, $40 for non-members. Details are at utahtech.org.

Nov. 12, 8 a.m.-5 p.m. Lean Manufacturing 101 With Simulation. Participants will learn the principles of lean manu-facturing, with hands-on manu-facturing simulation activities. Location is Salt Lake Community College’s Miller Campus, 9750 S. 300 W., Sandy. Cost is $150 (qual-ified Salt Lake County companies and individuals). Price without discount is $300. Details and reg-istration are available by contact-ing Shannon Strickland at (801) 957-5293 or [email protected].

Nov. 12, 8:30-11 a.m. NIH SBIT-STTR Workshop. Event will feature information about preparing, submitting and tracking applications in the Small Business Technology Transfer and Small Business Innovation Research process. Location is Salt Lake Community College’s Miller Campus, Miller Corporate Partnership Center, Room 333, 9750 S. 300 W., Sandy. Free. Also offered Nov. 10, 2-4:30 p.m., at the same location. Registration begins 30 minutes prior to each session. Details are at http://www.innova-tionutah.com/sbir/workshops/.

Nov. 12, 11 a.m.-1 p.m. 2015 Medical Office Building Symposium & Luncheon, a Building Owners & Managers Association (BOMA) Utah event. Location is Little America Hotel, 500 S. Main St., Salt Lake City. Free for BOMA members, $35 for member guests, $50 for non-members. Details are at www.BOMAUtah.org.

Nov. 12, 11 a.m.-1 p.m. Chamber Luncheon, a ChamberWest event. Speaker is Utah Attorney General Sean Reyes. Location is TownePlace Marriott West Valley City, 5473 W. High Market Drive, West Valley City. Cost is $20 with RSVP, $30 at the door. Registration can be completed at chamberwest.org/rsvp.

Nov. 12, 11:30 a.m.-1 p.m. Lunch & Learn, a Murray Area Chamber of Commerce event. Speaker to be announced. Location is Scofy’s Social Club, 7176 S. 900 E., Murray. Cost is $14 for chamber members, $20 for nonmembers. Details are at mur-raychamber.org.

Nov. 12 and Nov. 19 Business Resource Center

Workshop, a two-part West Jordan Chamber of Commerce event. Activities are set for 11:30 a.m.-1 p.m. Presenter Cary White will discuss attitude and enthusiasm; values, vision and imagination; goal-setting/goal-getting; planning and organizing; time management; and passion and purpose. Location is the West Jordan Community Center, 8000 S. Redwood Road, West Jordan. Free for chamber members, $20 for nonmembers. Details are at westjordanchamber.com.

Nov. 12, 4-6 p.m. Executive Seminar titled “Roadside MBA: Back Road Lessons for Entrepreneurs and Small-Business Owners.” Professor Scott Schaefer of the David Eccles School of Business and co-author of Roadside MBA: Back Road Lessons for Entrepreneurs, Executives and Small Business Owners, will dis-cuss his experience “hitting the road with two colleagues as they discovered stories of the businesses that illustrate timeless lessons for every executive, entrepreneur and business student.” Location is the University of Utah’s Spencer Fox Eccles Business Building, 1655 E. Campus Center Drive, CRCC Room 110, Salt Lake City. Cost is $100 (25 percent discount for two or more participants). Details are at https://umarket.utah.edu/um2/execed/product.php?product=31.

Nov. 14, 6-10 p.m. 2015 Utah Somos Foundation Fundraising Gala, a Utah Hispanic Chamber of Commerce black-tie event to raise money for the Somos Foundation’s scholarship fund. Location is The Leonardo, 209 E. 500 S., Salt Lake City. Cost is $100 for individual ticket, $25 for general donation. Details are at www.utahhcc.com.

Nov. 17-18, 8 a.m. Quality Management for Contractors, a training event pre-sented by the Governor’s Office of Economic Development (GOED), Procurement Technical Assistance Centers (PTAC) and Logistic Specialties Inc. (LSI). Activities are Nov. 17, 8 a.m.-4 p.m.; and Nov. 18, 8 a.m.-2 p.m. Event will provide the background, concept of requirements and certification expected by the U.S. Army Corps of Engineers in order to do busi-ness with them. Certificates will be issued upon successful com-pletion of the workshop. These certificates are required for qual-ity control personnel on all Corps of Engineers projects. Location is Dixie Business Resource Center,


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CALENDARfrom page 9

see CALENDAR page 15

Have You Heard the Best News in Town?

Utah’s number one resource for HR and employment law issues just got better! The Employers Council recently merged with Mountain States Employers Council, providing access to more attorneys, HR professionals, and HR services. Utah’s expanding business community can now rely on our enhanced resources and new cost-effective services to meet their growing HR needs. Don’t miss out! Join today. Call 801.364.8479 or go to ecutah.org.

1071 E. 100 S., Building C, second floor, St. George. Free. RSVPs can be completed by Nov. 10 by contacting Laurie Pless at [email protected] or (801) 593-2232, or Branddy Stevenson at [email protected] or (801) 593-2231.

Nov. 17, 8 a.m.-3:30 p.m. “Legal Issues in Managing Employees: Full-Day Training for Supervisors and Managers,” an Employers Council (EC) event. Event will feature infor-mation that will help managers and supervisors recognize when a situation has legal implica-tions and what to do in response. Location is Employers Council, 175 W. 200 S., second floor, Salt Lake City. Cost is $185 for EC members. Details are at www.ecutah.org.

Nov. 17, 8 a.m.-4:30 p.m. 39th annual Women & Business Conference & Athena Awards Luncheon, a Salt Lake Chamber event. Athena Award will be presented to Karen Gunn, associate provost of economic development and business part-nerships at Salt Lake Community College and executive director of the Goldman Sachs 10,000 Small Businesses program. Pathfinder Awards will be presented to Rebecca Dutson, executive vice president and chief operating officer, United Way of Salt Lake; Jodi Holmgren, marketing strate-gist, Design Solutions Integrated Marketing; Cathy Keen, senior private banker and vice presi-dent, Wells Fargo; Fraser Nelson, director of data and innovation, Salt Lake mayor’s office; and Kathy Ricci, executive direc-tor and chief executive officer, Utah Microenterprise Loan Fund. Location is Little America Hotel, 500 S. Main St., Salt Lake City. Luncheon tickets are $75. Conference-only tickets are free, although a $30 donation is sug-gested (luncheon not included). Sponsorships are available. Details are at slchamber.com.

Nov. 17, 11:15 a.m.-1:15 p.m. Women in Business Lunch, an Ogden/Weber Chamber of Commerce event. Location is Hub 801 Event Center, 3525 Riverdale Road, Ogden. Cost is $20. Details are at ogdenweber-chamber.com.

Nov. 17, 11:30 a.m.-1 p.m. Business Alliance Networking Lunch, a Davis Chamber of Commerce event. Location is Boondocks Fun Center, 525 Deseret Drive, Kaysville. Details are at davis-

chamberofcommerce.com.

Nov. 17, 4-5 p.m. B 4 | 5 Networking, a West Jordan Chamber of Commerce event. Location is the Bar Down Sports Bar and Grill, 7078 S. Redwood Road, West Jordan. Details are at westjordancham-ber.com.

Nov. 17, 4-5:30 p.m. P3 Utah Annual Meeting. Interested and prospective mem-bers are welcome. Event will cover the annual report, confer-ence recap, financial position and operations plan for 2016. Location is Responsible Asset Management, 2595 E. 3300 S., Salt Lake City. A meeting pack-age is available by contacting Steve Klass at [email protected].

Nov. 18, 8:30 a.m.-3:30 p.m. ABC Contractor Con-tinuing Education, present-ed by the Associated Builders and Contractors (ABC) Utah Chapter. Nov. 30 is the deadline for all contractor licenses to be renewed. The course fulfills both the core and professional require-ments set by the state of Utah and the Department of Licensing to renew. Location is ABC office, 660 W. 900 N., Suite B, North Salt Lake. Course also is avail-able Nov. 24 at this location. Cost is $69 for members, $99 for nonmembers. Registration is available at www.abcutah.org or emailing [email protected].

Nov. 18, 2-5 p.m. “Intro to GSA,” a work-shop presented by the Governor’s Office of Economic Development (GOED), Procurement Technical Assistance Centers (PTAC) and Logistic Specialties Inc. (LSI). Event will feature information about what a General Services Administration (GSA) schedule can do for a business. GSA cov-ers buildings, real estate, prod-ucts and services. GSA establish-es long-term government wide contracts with commercial firms to provide access to millions of commercial products and servic-es. Location is Dixie Business Resource Center, 1071 E. 100 S., Building C, second floor, St. George. Free. RSVPs can be completed by Nov. 10 by con-tacting Laurie Pless at [email protected] or (801) 593-2232, or Branddy Stevenson at [email protected] or (801) 593-2231.

Nov. 19, 9:30 a.m.-1 p.m. Nellis Air Force Base Outreach, A workshop pre-sented by the Governor’s Office of Economic Development (GOED), Procurement Technical Assistance Centers (PTAC) and Logistic Specialties Inc. (LSI). Event will cover topics includ-

ing average annual expenditures to support Nellis AFB’s mission, current and upcoming opportu-nities and Nellis small-business goals. Location is Dixie State University, Taylor Health Science Building Auditorium, first floor (west side of building), 1526 S. Medical Drive, St. George. Free. RSVPs can be completed by Nov. 10 by contacting Laurie Pless at [email protected] or (801) 593-2232, or Branddy Stevenson at [email protected] or (801) 593-2231.

Nov. 19, 11:30 a.m.-1 p.m. Lunch & Learn (Business Preparedness Meeting), a Murray Area Chamber of Commerce event. Location is Scofy’s Social Club, 7176 S. 900 E., Murray. Cost is $14 for chamber members, $20 for nonmembers. Details are at murraychamber.org.

Nov. 19, 11:30 a.m.-1 p.m. Combined WIB (Women in Business) and Chamber Appreciation Luncheon, a Davis Chamber of Commerce event. Location is Texas Roadhouse, 685 S. Ring Road, Layton. Cost is $20 for chamber members, $25 for nonmembers. Details are at davischamberofcommerce.com.

Nov. 19, 5:30-7:30 p.m. Contactos, a Utah Hispanic Chamber of Commerce event. Location is Tim Dahle Nissan, 4528 S. State St., Murray. Details are at www.utahhcc.com.

Nov. 21, 6 p.m. Utah Manufacturers Association Annual Awards

Banquet. Location is Little America Hotel, 500 S. Main St., Salt Lake City. Cost is $125 (table of 10 is $900). RSVPs can be completed by contacting Annette Beckstrand at (801) 363-3885.

Nov. 23, 3-4 p.m. Quarterly Chief Sus-tainability Officer Meeting. Activities include two short presentations followed by par-ticipant sharing of key initia-tives and expertise requests. Location is Utah Valley Chamber of Commerce, 111 S. University Ave., Provo. Details are available by contacting Steve Klass at (801) 918-8431 or [email protected].

Nov. 24, 8:30 a.m.-3:30 p.m. ABC Contractor Con-tinuing Education, presented by the Associated Builders and Contractors (ABC) Utah Chapter. Nov. 30 is the deadline for all contractor licenses to be renewed. The course fulfills both the core and professional requirements set by the state of Utah and the Department of Licensing to renew. Location is ABC office, 660 W. 900 N., Suite B, North Salt Lake. Cost is $69 for members, $99 for nonmembers. Registration is available at www.abcutah.org or emailing [email protected].

Dec. 1, 11:30 a.m.-1 p.m. Business Alliance Net-working Lunch, a Davis Chamber of Commerce event. Location is Boondocks Fun Center, 525 Deseret Drive, Kaysville. Details are at davischamberofcommerce.com.

Dec. 1, 4-5:30 p.m. Annual Benef i t Corporation Meeting and P3 Utah Holiday Social. Location is 990 S. 700 W., Suite 8, Salt Lake City. Registration will open in mid-November.

Dec. 1, 5-7 p.m. Holiday Open House 2015, a Salt Lake Chamber event in partnership with the Women’s Business Center, Women’s Leadership Institute and Downtown Alliance. Location is Salt Lake Chamber, 175 E. University Blvd. (400 S.), Suite 600, Salt Lake City. Free (reg-istration is appreciated). Details are at slchamber.com.

Dec. 2, 8:30-10 a.m. Jump Start: Intro to Entrepreneurship, a Salt Lake Chamber Women’s Business Center event. Presenter Deb Bilbao, business consultant at the Women’s Business Center, will discuss how to efficiently do market research, write a win-ning business plan and make plans to offer a product or ser-vice. Location is the Salt Lake Chamber, 175 E. 400 S., Suite 600, Salt Lake City. Free. Details are at slchamber.com.

Dec. 3-4 Summit 2015: Director & Officer Training Conference. Event is designed for board chairs, corporate directors and senior executive officers of pub-licly traded corporations and corporations growing towards


Each month, The Enterprise, in conjunction with the Salt Lake City chapter of the National Association of Women Business Owners, conducts a forum session with local women who own and operate their own firms on topics of interest to business own-ers.

Dr. Vanessa Moon, moderator: The first question I have for you is, what type of sponsorships do you do for your business?

Annette: I do all kinds of sponsor-ships, cash sponsorships, speaking sponsorships. Whatever is presented to me, I evaluate whether that’s going to help my business grow or whether it’s adding value to me personally — if it’s in alignment with my values.

Lynn: I do a lot of expos like speak-ing business engagements, but I’ve also done things like tee-ball or dance groups, bowling. A lot of those are more for giving to the commu-nity. But I probably do the best with expos and booths.

Shannon: One of the smaller but most rewarding things I’ve done was put in a water system in a gym I use. I sponsored the place where the peo-ple have to go every time they need water and they have to look at me

see FORUM next page

Lynn HuberLynn serves as a men-tor with Isagenix, teaching people how to increase their net worth by growing, cul-tivating and nuturing their network, empow-ering them to fulfi ll their dreams.

Louise EdingtonLouise is a truth guide, intuitive astrologer, teacher, activist and writer. She helps wom-en to fi nd their lost or hidden wild woman and to navigate major times of change and personal transforma-tion.

Annette PieperAnnette is an inter-nationally known speaker and founder of the business suc-cess consulting and training fi rm Vision 2 Reality Training. She is the co-author of the international bestsell-ing book on goal set-ting, Step Into Your Vision.

Linda ProscheLinda is the owner of Yin Yang Direction that develops promotions and online marketing for health and wellness businesses. She designs, facilitates and man-ages specialty events and teacher trainings and provides account management and direct marketing expertise.

Dr. Shannon ParisiShannon is a chi-ropractic physician practicing in Salt Lake City for over four years after relocating from North Carolina. At Chiropractical, patients are guided to make healthy choices to live up to their full potential.

there. Sponsoring that water station has probably been my most unique and most rewarding sponsorship.

Vanessa: As a business owner how do you decide which sponsorships to do?

Linda: I was asked to teach to a group at the women’s gym. Very simple, but they don’t allow promo-tion. So I’m not allowed to have my fliers or business cards there; all I’m allowed to do is speak. This particular area is a tight-knit group of women and they talk and network with each other. Has business come back direct-ly? No. But it has certainly expanded and my name has become more prom-inent in the club. They wanted me to come back and do workshops and things like that where I actually can promote myself.

Lynn: I believe that if you give to give without trying to worry about what you get back it always comes back tenfold. I alw,ays take sponsor-ships that are offered as long as it’s within my budget, because I always feel like no matter what, something good will come out of it eventually and that’s worth it for me.

Louise: I tend to choose my spon-sorships by the vibe of the place

and if the people I like to work with are going to be reached through it, because I don’t see the point of me sponsoring something for people I wouldn’t like to work with.

Annette: I also try and judge on the vibe of the sponsorship as well as whether or not I am going to be able to reach those that can be most influ-enced or get the most benefit from what I have to offer. I’ve done a lot of sponsorships where it hasn’t been beneficial to my business and spent a lot of money in those areas. So now, after being in business for so many years, I’m a lot more strategic on what I choose to sponsor.

Shannon: For me it’s less about where I’m at and more about where I’m at in my head. Am I going to have enough energy and be organized and have something that will draw people in? So, unless I have some-thing they can participate in, if I don’t have the energy to put together some-thing great, then it’s not worth it to me — better to go and mingle instead.

Vanessa: How do you make yourself stand out from other sponsors?

Annette: When I have a booth at a

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business event I give away crystals to everyone who comes to my booth. It’s amazing how many businesspeople, CEOs, top women business owners are so excited to get a crystal. So I stand out a little bit differently from your regular corporate business coach in that way.

Lynn: It’s all about being authentic, about what’s in it for the other person you’re talking to and how can I help them.

Linda: I have a background in mar-keting and advertising and I chose yoga as a second profession so I wouldn’t have to market myself all the time and I could just be this amaz-ing yogini. And here I find I’m in the Mecca of all yoga teachers with a yoga studio on every corner. So I’m right at the cusp of decision making. Do I want to compete or can I just stand alone and be myself, do my thing? I know marketing is an ongo-ing step, but it’s really like a personal step forward and the minute I do it to compete is when I get in trouble, because I don’t quite move that way.

Shannon: I haven’t done too many actual promotional items. One time I ordered ice packs for a golf event and I didn’t read the size correctly so they were about the size of a toe — a toe ice pack. But they were actually really cute; after golfing you can ice your wrist. But the most return I’ve gotten is when I’m actually present at the booth talking to people, either assess-ing them in some way or actually putting my hands on them and finding what I would like to fix, and connect-ing with them and getting them to sign up in that moment.

Vanessa: How long do you have to wait until you see a return on your investment from a sponsorship?

Linda: According to the therapy tradition, the famous words are “it depends.” I’ve had people call me a year later or wait until they blow out their knee and need rehab. I also have people who are so anxious to get their fix or whatever, so they say, “Let’s do it tomorrow.”

Lynn: I’ve found the same thing. It’s

hard to track response versus the peo-ple you’re talking to. You’ll get some right away, some in three months, six months and some five years from now. I think it’s all about putting yourself out there, making a connection and building a relationship — especially these days.

Annette: It’s so thrilling when you get immediate return from that invest-ment. As an example, I spoke on a telesummit, I was a sponsor. I only had three people sign up for the free gift I was offering, which was a free consultation, and one of them became my client. Within two weeks of speak-ing I had a new client. So that was thrilling to see that quick of a return on my investment because usually it takes a little bit longer in our relation-ship-building process for a person to be willing to invest in my services. There’s also a great thrill in relation-ships that take a little longer to build and finally say “yes.”

Lynn: It’s an ongoing process. If you always have sponsorships happening, then they’re going through the funnel and you always have a steady flow of prospective clients.

Shannon: For chiropractic, if some-body doesn’t think they have a need for it and then they run into somebody in the next few months that recom-mends it to them, if I’m still on their mind they’ll come to me. So I think for referrals, that can extend that return out for situations like that, where you can just get your name to the top of people’s minds for your industry.

Vanessa: How do you evaluate the success of a sponsorship and if you’re going to do it again?

Linda: Depending on your level of commitment and size, it requires a certain level of sophistication in your feedback, in your level of return on an investment. I was at an oncology con-ference in Boston that required a dif-ferent level of sophistication and track-ing in order to turn that investment around. So, I think it’s important to have a few different levels of engage-ment and return. I have four systems: immediate relationship-building, phone call follow-up, with a national conference I might hire somebody to tally emails and I return calls or hire someone else to make phone calls.

Lynn: I’ve had some sponsorships that

I thought weren’t valuable afterwards, but all of a sudden a year later some-thing will pop up from it that ends up being huge in my business. Still, I think when you actually do the event, you get a pretty good feel from the responses you’re getting, how the peo-ple are talking and listening to you. So if you’re doing an event and it seems to be falling flat, maybe that’s when I make a note that I won’t do that again.

Annette: When I’m evaluating how successful a sponsorship is for me, if I didn’t get the return that I was hoping for, or the number of leads or what-ever, I always evaluate myself first: How present was I at the event? I was recently invited to speak at a chamber event and I was not in a very good space mentally or in my life in gen-eral, and I shared too many sad stories and that came out in some of the feed-back. I didn’t get the leads I wanted out of that, nor was it really my target market. So ask yourself, “How did I show up? Was this the right venue for me or was I 100 percent present and authentic with people?”

Linda: What comes to mind is that this is a different paradigm for busi-ness. How do you gauge success? Do you gauge it by the bottom line? As I consider even stepping into corpo-rate America, how am I going to be a leader? How are we going to be lead-ers in our industries? How do you look at your success? I love what you said Annette: it’s how present am I? That’s how I gauge my success.

Lynn: In today’s market everybody has access to all the information in the world on their phone. It’s really all about you and what you provide for them — more so than it’s ever been. Advertising doesn’t work anymore. It’s all about you, your personality.

Vanessa: My final question: What is your No. 1 strategy or tip for success with sponsorships?

Lynn: I believe it’s consistency. Doing it over and over again, simple steps, building relationships, getting expo-sure, getting your name out there and doing it again, consistently, day by day.

Annette: Have a trackable follow-up system and actually follow up. There are so many booths that I visit that I’ll enter a drawing. I might get an email but a lot of times I don’t get

anything back. As a business strate-gist, it blows my mind how many people invest dollars in sponsorship and don’t follow up. Even network-ing — you’re investing your time, and if there’s no follow-up, you’re just leaving money, potential partner-ships, relationship building, referrals all on the table if you don’t have an efficient tracking system.

Shannon: In my particular industry, in an event setting, it’s getting them signed up or committed to some-thing. Like offering a class and get-ting them set up to take it, or their first chiropractic visit, but if not, then definitely following up with those people that seem interested and don’t want to make a commitment on the spot. It’s tough but important.

Louise: One thing I learned at my last event was making a schedule for one-on-one calls with everybody and taking their phone number so I could call them instead of just letting them follow up.

Vanessa: Thank you so much for your time today. This was an awe-some discussion.


Contact Ken Holman at: 801-355-1111 [email protected]

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CALENDARfrom page 11publicly traded status. Speakers include Bill O’Rourke, a mem-ber of the board of the Alcoa Foundation and a visiting fel-low at the Wheatley Institution at Brigham Young University; Howard Schilit, founder and CEO of Schilit Forensics and a pioneer in the field of detecting account-ing tricks in corporate financial reports; Andy Fastow, former CFO at Enron; Steve Weber, a retired vice president and execu-tive partner of Gartner; Frank M. Hatheway, chief economist for Nasdaq; Liz Wiseman, presi-dent of The Wiseman Group and former Oracle executive; Jeff Benedict, author and contributor and writer for Sports Illustrated; Jeff Dyer, professor of strategy at Brigham Young University and author; and William Nixon, chair and CEO of Policy Impact Communications and former speech writer for President Ronald Reagan. Location is Montage Deer Valley Resort, Park City. Cost is $550. Details are at http://www.summitconf.org/.

Dec. 3, 9:30 a.m.-4 p.m. Utah Health Policy Project (UHPP) Annual Conference, titled “Plotting the Best Course: Keeping Utah’s Health System Ahead of the Curve.” Morning keynote presenter is Dr. Joe Miner, executive director of the Utah Department of Health. Afternoon keynote presenter is Dr. Anna Maria Lopez, asso-ciate vice president for health equity and inclusion and direc-tor of cancer health equity for Huntsman Cancer Institute. Panels will discuss topics includ-ing pursuing value in healthcare, covering the Medicaid expansion gap, and how business is being affected by the Affordable Care Act. Location is the Utah Cultural Celebration Center, 1355 W. 3100 S., West Valley City. Cost is $30. Registration can be completed at Eventbrite.com.

Dec. 8, 11:30 a.m.-1 p.m. Holiday Luncheon and End-of-Year Social, a Holladay Chamber of Commerce event. Location is Holladay City Hall, 4580 S. 2300 E., Downstairs Hall, Holladay. Cost is $25 (includes lunch buffet, entertainment and awards ceremony). RSVPs can be completed at [email protected].

Dec. 9, 3-5 p.m. “Think, Write, Get Funded: Your Business Plan,” a Salt Lake Chamber “Business Essentials” event. Location is the Salt Lake Chamber, 175 E. 400 S., Suite 600, Salt Lake City. Cost is $10. Details are at slchamber.com.

Dec. 10, 8 a.m.-5 p.m. “Evolving Export Controls, Compliance and Enforcement” Seminar, organized by the Utah District U.S. Export Assistance Center. Event will cover up-to-date information about export controls, including reform issues and obligations under the Export Administration Regulations (EAR) and International Traffic in Arms Regulations (ITAR). Location is Salt Lake Community College’s Karen Gail Miller Conference

Center, Room 150GH, 9750 S. 300 W., Sandy. Cost is $195. Registration deadline is Dec. 7. Details are at http://www.export.gov/utah.

Dec. 10, 11:30 a.m.-1 p.m. Women in Business (WIB) Holiday Luncheon, a Davis Chamber of Commerce event. Location and speaker to be deter-mined. Cost is $15 through online RSVP, $20 at the door. Details are at davischamberofcommerce.com.

Dec. 15, 11:30 a.m.-1 p.m. Business Alliance Networking Lunch, a Davis Chamber of Commerce event. Location is Boondocks Fun Center, 525 Deseret Drive, Kaysville. Details are at davischamberofcom-merce.com.

Dec. 16, 8-9:30 a.m. Legal Breakfast Briefing 2015-16 Series Presentation, an Employers Council (EC) event. Briefing is titled “Personnel

Files and Recordkeeping: Legal Compliance and Best Practices.” Presenter is T. Mickell Jimenez of Clyde Snow & Sessions. Other series activities are Feb. 17, April 20 and June 15, 2016. Location is Red Lion Hotel, 161 W. 600 S., Salt Lake City. Cost of the brief-ing is $99 for EC members, $139 for nonmembers. Cost for the series is $395 for EC members, $595 for nonmembers. Details are at ecutah.org.Output On: October 29, 2015 3:23 PM High-Resolution PDF - PRINT READY


COMPETITIONfrom page 4

HOTELfrom page 4next phase of planning. Public and private invest-ment in new downtown construc-tion has been at an all-time high, particularly in Regent’s block, where 111 Main and Utah’s new Performing Arts Center (UPAC) are currently under construction, according to Eilers. Construction will also begin soon on nearby pedestrian areas. “This project identifies two critical trends in downtown’s development,” said Mike Farmer, executive director of industrial at Cushman & Wakefield. “Change has come with no sign of slow-ing, and both city leaders and developer/investors are tackling challenges they ignored in previ-ous years.”The looming question for developers is how to capital-ize on increased and increasing costs.” The 251,810-square-foot hotel will feature a transparent, ground level lobby and hotel restaurant. Meeting rooms and limited access gym and spa will occupy floors two and three, fol-lowed by the hotel’s 190 guest rooms from floors four to 12. Private condos will occupy the remaining top floors (13-20) of the main building, with private balconies added only to resi-dences on floors 15-20. The final two floors (22 and 23) will fea-ture a rooftop pavilion covering the hotel’s bar, patio and swim-ming pool, with an 18.5-foot penthouse at its crown. The project is slated to begin construction in the fall of 2016 with completion anticipated in spring 2018.

Massik. “The experience pro-vided by the Utah Weightlifting, Utah Sports Commission and Visit Salt Lake for the 2014 Nationals was outstanding. It is a logical partnership for both our-selves and the USOC to execute this pivotal competition as we prepare for the 2016 Olympic Games.” “Through the hard work of many key partners following our Olympic and sports legacy strat-

egy, we have been able to broad-en Utah’s sports landscape,” said Jeff Robbins, president and CEO of the Utah Sports Commission. “We continue to have Olympic- level competition taking place in Utah, keeping the experience and excitement of the Olympic spirit we felt 13 years ago.” “No group of athletes in the world embodies the Olympic spirit better than weightlifters in the United States,” said Utah Weightlifting chairperson Debbie Millet. “To train and compete in such a physically and mentally demanding way is an inspira-

tion to all. We are humbled and excited to welcome these dedi-cated, skilled, powerful athletes to Utah again and celebrate both our 2016 U.S. Olympic Team and our national champions alike.” Salt Lake City was selected to host the event from a pool of three finalists which also includ-ed Columbus, Ohio; and Reno, Nevada. The fencing competition will be the world’s largest fencing tournament, with more than 4,000 athletes competing. “Salt Lake City has a long-standing tradition of being an

outstanding destination city for sporting events and we are look-ing forward to working with our partners at the Utah Sports Commission as we prepare to showcase the best fencers in the country,” said USA Fencing director of operations Christine Strong-Simmons. “As we look ahead to the 2020 Olympic Games, nearly all of our world and Olympic medalists in the past few decades once compet-ed at the USA Fencing National Championships. For fencing fans as well as those who’ve never seen the sport, watching the

action live is an experience not to be missed.” The competition will feature athletes ranging in age from 8 to over 80 dueling for gold in more than 80 events. “We are extremely pleased to welcome USA Fencing and the 2017 National Championships and July Challenge to Utah,” said Robbins. “Sports are key to Utah’s culture and are a sig-nificant economic driver for our state. Having the world’s largest fencing event come to Utah will positively impact our economy and provide a wonderful oppor-tunity for our community to watch world-class fencing in our own backyard.” Salt Lake City has played host to several major USA Fencing events in recent years, includ-ing the 2012 Junior Olympic Fencing Championships and the 2015 January North American Cup as well as the upcoming 2016 March North American Cup.


EARNINGSfrom page 6

see EARNINGS page 21

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“Our ability to capitalize in this market resulted in record-high revenue and NOI (net oper-ating income) growth for the quarter. In addition, the recent-ly closed SmartStop acquisi-tion significantly increased our nationwide footprint and online presence, and we will leverage that size and scale to further benefit our stockholders.”

SkyWest SkyWest Inc., based in St. George, reported net income of $36 million, or 71 cents per share, for the third quarter ended Sept. 30. That compares with $41.3 million, or 79 cents per share, for the year-earlier quar-ter. Excluding special items, net income was $26 million, or 50 cents per share, in the same quarter of 2014. Total operating revenues in the most recent quarter were $794 million, down from $834.6 million in the year-earlier quar-ter. SkyWest is the holding company for two scheduled pas-senger airline operations and an aircraft leasing company. The airlines provide commercial air service in cities across the United States, Canada, Mexico and the Caribbean with more than 3,300 scheduled daily flights. The company has nearly 20,000

employees. “Our third-quarter results reflect continued progress in the optimization of our fleet and fly-ing contract mix,” Chip Childs, president, said in announcing the results. “These improvements, along with solid operating per-formance, have contributed to our increasing operating margins. Additionally, we look forward to operating the E175 aircraft with three of our major partners by mid-2016, and we believe our operating performance continues to create additional opportuni-ties to improve our fleet mix and operating margins.”

Myriad Genetics Myriad Genetics Inc., based in Salt Lake City, reported net income of $26.6 million, or 41 cents per share, for the fiscal first quarter. That compares with $16 million, or 25 cents per share, for the same quarter a year earlier. Revenues in the first quarter totaled $183.5 million, up from $168.8 million in the year-earlier quarter. Myriad Genetics is a per-sonalized medicine company that discovers and commercializes molecular diagnostic tests. “We were very pleased with our results in the first quarter and reiterate our fiscal 2016 guid-ance,” Mark C. Capone, presi-dent and chief executive officer, said in announcing the results. “More importantly, we con-

tinued the excellent progress on our five-year plan to transform Myriad into a diversified global pioneer in personalized medicine. We are now beginning to see the benefits of the substantial invest-ments the company has made in our industry-leading pipeline and international expansion, which we believe will drive significant shareholder value over the next five years.”

USANA Health Sciences USANA Health Sciences Inc., based in Salt Lake City, reported net income of $25.6 mil-lion, or $1.92 per share, for the third quarter ended Oct. 3. That compares with $19.5 million, or $1.47 per share, for the same quarter a year earlier. Sales in the most recent quarter totaled $233.3 million, up from $191.9 million in the same quarter of 2014. USANA develops and manu-factures nutritional supplements, foods and personal care products that are sold directly to associates and preferred customers. “We continued to see strong momentum in our business dur-ing the third quarter and achieved our fourth consecutive quarter of double-digit sales, earnings and customer growth,” Dave Wentz, co-chief executive officer, said in announcing the results. “While currency fluctuations negatively impacted our reported results, we generated strong local currency

sales growth in nearly all of our markets.”

Nu Skin Nu Skin Enterprises Inc., based in Provo, reported net income of $16.3 million, or 28 cents per share, for the third quar-ter ended Sept. 30. That compares with $68.3 million, or $1.12 per share, for the same quarter in 2014. Revenue totaled $571.3 mil-lion in the most recent quarter, down from $638.8 million in the same quarter of 2014. Earnings per share were affected by several factors, including a $37.9 million charge, or about 43 cents per share, to write down inventory in China, foreign currency translation expenses of approximately 13 cents per share, and a higher-than-normal tax rate primarily related to the inventory write-down, the company said. Nu Skin offers direct-sales skin care and nutrition products. “Our business continued to progress sequentially in each quarter of 2015, with constant-currency revenue improving in the third quarter to be even with the prior year,” Truman Hunt, president and chief executive officer, said in announcing the results. Hunt noted that the com-pany’s Greater China region “underperformed” in the quarter. “Looking forward, we believe

the Greater China business will benefit by focusing sales leaders on the upcoming launch of our ageLOC Me skin care system rather than focusing on discount-ed product promotions.”

InContact InContact Inc., based in Salt Lake City, reported a net loss of $5.7 million, or 9 cents per share, for the third quarter ended Sept. 30. That compares with a loss of $6.7 million, or 11 cents per share, for the same quarter in 2014. Revenues in the most recent quarter totaled $56.1 million, up from $44.2 million in the year-earlier quarter. The company provides cloud contact center software and con-tact center optimization tools. “In Q3, we enjoyed one of our strongest quarters in all areas of the business,” Paul Jarman, chief executive officer, said in announcing the results. “Our software revenues grew 40 per-cent and new business activity was at record levels. Importantly, we demonstrated significant operating leverage with a sub-stantial increase in gross margin and a 50 percent improvement in operating margin.” He added that adjusted earnings before interest, taxes, depreciation and amortiza-tion (EBITDA) of $4 million


FAREED ZAKARIA

Opinion

see ZAKARIA next page

THOMAS SOWELL

A recent, widely publicized incident in which a policeman was called to a school classroom to deal with a disruptive student has provoked all sorts of comments on whether the policeman used “excessive force.” What has received far less attention, though it is a far larger question, with more sweeping implications, is the role of dis-ruptive students in schools. Critics of charter schools have often pointed to those schools’ ability to expel uncoop-erative and disruptive students, far more readily than regular public schools can, as a reason for some charter schools’ far better educational out-comes, as shown on many tests. The message of these critics is that it is “unfair” to compare regular public schools’ results with those of charter schools serving the same neighborhoods — and often in the same buildings. This criticism ignores the fact that schools do not exist to provide jobs for teachers or “fairness” to institutions, but to provide education for students. “Fairness” is for human beings, not for institutions. Institutions that are not serv-ing the needs of people should either be

changed or phased out and replaced, when they persistently fail. Despite the painfully bad educational outcomes in many public schools in ghet-tos across the country, there are also cases

where charter schools in the very same ghettos turn out students whose test scores are not only far higher than those in other ghetto schools, but sometimes are com-parable to the test scores in schools in upscale suburban communities, where children come from intact families with highly educated par-ents. Charter schools with such achieve-

ments should be celebrated and imitated, not attacked by critics because of their “unfair” exemptions from some of the counterproductive rules of the education establishment. Maybe such rules should be changed for all. If the critics are right, and getting rid of the influence of uncooperative or disruptive students contributes to better educational results, then the answer is not to prevent charter schools from expelling such stu-dents, but to allow other public schools to remove such students, when other students can benefit from getting a better education

without them around. This is especially important in low-income minority schools where education is for many their only chance for a better life. Back in the supposedly bad old days, before so many people became so politi-cally correct, there were schools and other institutions that were basically dumping grounds for students who endangered the education — and often even the safety — of other children. Yet a front-page story in the New York Times recently dealt with how Success Academy, a high-performing charter school network in New York City’s low-income and minority neighborhoods, has been accused of “weeding out weak or difficult students.” The Times’ own story opens with an account of a child who was “not following directions,” who “threw tantrums,” was screaming, threw pencils and refused to go to another classroom for a timeout. Yet the headline declared that charter schools “Single Out Difficult Students.” “Singled out” usually means treating someone differently from the way others are treated for doing the same things. Are convicted criminals “singled out” when

they are sent to jail? The principal of a Success Academy school in Harlem was accused of telling teachers “not to automatically send annual re-enrollment forms home to certain stu-dents, because the school did not want those students to come back.” A mother in Brooklyn complained about her son’s being suspended repeatedly and her being called repeatedly to come to school to pick him up early. She admitted that he was “hitting, kicking, biting and spitting at other children and adults.” After he was transferred to another public school, “he was very happy and had not been sus-pended once.” How happy others were to have him in their midst was not reported. It would be wonderful if we could develop ways to educate all students, despite whatever kinds of attitudes and behavior they had. But how many genera-tions of other youngsters are we prepared to sacrifice to this hope that has never yet been fulfilled?

Thomas Sowell is a senior fellow at the Hoover Institution, Stanford University. His website is www.tsowell.com.

COPYRIGHT 2015 CREATORS.COM

“The most important contest in the world right now is between the ISIS model and the Tunisian model,” said Rachid Ghannouchi, who visited New York recent-ly. “It’s not between Islam and the West. It’s between ISIS and us.” Ghannouchi is the intellectual leader of Ennahda, Tunisia’s Islamist party that, despite winning the country’s first free elections, compromised with its political foes, relin-quished power and helped make Tunisia the Arab Spring’s only success. He explained why his small country’s story is crucial to the struggle against militant Islam across the world. “The only way to truly defeat ISIS is to offer a better product to the millions of young Muslims in the world. We do: Muslim Democracy,” he said. “Young peo-ple don’t like ISIS — see how many mil-lions flee from it — but they won’t accept life under tyrants either.” He elaborated that the “better product” needed to be a political system that was genuinely democratic and respected human rights but also allowed Islam and its values some space within the political system. “We are building the alternative model in Tunisia,” he told me proudly. Ghannouchi said that, in his view, the thousands of young men traveling to join the Islamic State were similar to discontent-ed firebrands who became Marxist guerril-las in the 1950s and 1960s. “Some people search for an ideology of violent protest against the established order. That’s not strange,” he said. “It has taken a religious

garb today.” “How did we get these Islamic terror-ists?” he asked. “Throughout the Middle East, for decades, dictators suppressed Islam. In Tunisia, any kind of Islamic edu-cation was forbidden. It was forbidden for

women to wear the veil. People were persecuted if they demon-strated any interest in Islam. It is these policies that produced a reaction, the generation of Islamic terrorists that we are living with now.” Tunisia’s success story is not quite the fairy-tale version that is sometimes recounted. The Islamists pushed for greater influ-

ence of Islamic law, they were reluctant to compromise and left power only because they thought the country would explode if they didn’t. Key elements of the old guard have returned in force and the place remains fragile, with the economy under severe pressure. But most transitions to democracy are marked by bitter struggles. Democracy did not come amicably to South Korea, Taiwan or Chile. The dictators resisted fiercely. There were riots, mass arrests and street violence. It is only in retrospect that one can look back and speak calmly of peaceful democratic transitions. Tunisia has some distinct advantages that have helped it along. In a conversation with the country’s head of government, Habib Essid, a technocrat, I asked him to explain the country’s success. First, he pointed out that Tunisia has existed as a political entity for 3,000 years (from the

Tunisia’s Islamist party: A voice of hope in the Muslim worldtimes of ancient Carthage). Second, he noted that Tunisia is almost entirely Sunni, so it does not have the sectarian and tribal differences that create fissures in other lands like Iraq, Syria and Libya, which have been modern nation-states for less than 100 years. Third, he explained that under its first post-independence leader, Habib Bourguiba, Tunisia built strong politi-cal and administrative institutions. Ghannouchi highlighted another key advantage: Bourguiba ensured that the military was restricted and nonpolitical.

Referring to the Egyptian military’s return to power and its dismissal of democracy, he said, “In Egypt, the army has a country. In Tunisia, the country has an army.” In addition to all these structural and historical advantages, Tunisia has ben-efited from wise political leadership. Ghannouchi explains why his party com-promised. “The old guard might have lost the election but it was still very powerful. It was the elite of the country. So we had to make deals with them.” You cannot go

Charter schools' 'unfair' advantage: ability to expel disruptive kids


The end of a year makes us think about last-minute things we need to address and good habits we want to start keeping. To that end, here are six aspects of your financial life to think about as this year leads into the next: • Your retirement planning strategy. Does it seem as practical as it did a few years ago? Are you able to max out contributions to IRAs and workplace retirement plans like 401(k)s? Is it time to make catch-up contributions? Finally, consider

Roth IRA conversion scenarios and whether the potential tax-free retirement distributions tomorrow seem worth the taxes you may incur today. Be sure to take your Required Minimum Distribution (RMD) from your traditional IRA(s) by Dec. 31. If you don’t, the IRS will assess a penalty of 50 percent of the RMD amount on top of the taxes you will already pay on that income. (While you can postpone your very first IRA RMD until April 1, 2016, that forces you into taking two RMDs next year, both taxable events.) • Your tax situation. In years past, high-earning busi-ness owners and executives didn’t always look deeply into

deductions and credits because they assumed they would be hit by the Alternative Minimum Tax (AMT). The recent rise in the top marginal tax bracket (to 39.6 percent) made fewer of them subject to the AMT but their ordinary income tax liabilities grew. This calls for a closer look at accelerated depreciation, R&D cred-its, the Work Opportunity Tax Credit, incentive stock options and certain types of tax-advantaged investments. Review any sales of appreciated property and both realized and unrealized losses and gains. Take a look back at last year’s loss carry-forwards. If you’ve sold securities, gather up cost-basis information. Look for any transactions that could potentially enhance your circumstances. • Your charitable gifting goals. Plan contributions to charities or education accounts and make any desired cash gifts to family members. The annual federal gift tax exclusion is $14,000 per individual for 2015, so you can gift up to $14,000 to as many individuals as you like this year without tax consequences. A married couple can gift up to $28,000 tax-free to as many individuals as they wish. The gifts do count against the lifetime estate tax exemption amount ($5.43 million per individual, $10.86 million per married couple in 2015). You can choose to gift appreciated securities to a charity. If you have owned them for more than a year, you can deduct 100 percent of their fair market value and legally avoid capital gains tax you would normally incur from selling them. Besides outright gifts, you can plan other financial moves for your family. You can create and fund trusts, for example. The end of a year is a good time to review trusts you have in place. • Your life insurance coverage. Are your policies and beneficiaries up-to-date? Review premium costs, beneficiaries and any and all life events that may have altered your coverage needs. • Speaking of life events ... Did you happen to get married or divorced in 2015? Did you move or change jobs? Buy a home or business? Did you lose a fam-ily member, or see a severe illness or ailment affect a loved one? Did you reach the point at which Mom or Dad needed assisted living? Was there a new addition to your family? Did you receive an inheritance or a gift? All of these circumstances can financially impact on your life and even the way you invest and plan for retire-ment and wind down your career or business. They are worth discussing with the financial or tax professional you know and trust. • Lastly, did you reach any of these financially important ages in 2015? If so, act accordingly: Did you turn 70 1/2 this year? If so, you must now take Required Minimum Distributions (RMDs) from your IRA(s). Did you turn 65 this year? If so, you’re now eligible to apply for Medicare. Did you turn 62 this year? If so, you’re now eligible to apply for Social Security benefits. Did you turn 59 1/2 this year? If so, you may take IRA distributions without a 10 percent penalty. Did you turn 55 this year? If so, and you retired during this year, you may now take distributions from your 401(k) account without penalty. Did you turn 50 this year? If so, “catch-up” contributions may now be made to IRAs (and certain qualified retirement plans). The end of the year is a key time to review your financial “health” and well-being.

Mark Lund is the author of The Effective Investor and provides 401(k) consult-ing for small businesses and investment advisory services for individuals through Stonecreek Wealth Advisors in Utah.

Are you a fountain or a drain? Do you bring life and energy when you enter a room or do you tend to suck it all away, bringing a dark cloud of pessimism or neediness? When it comes to professional endeavors, do you add creativity, ingenu-ity and productivity, or do you suffocate ideas with inactivity or skepticism? Whether you con-sider yourself already a large town-square fountain or perhaps just a small drinking fountain or if an honest reflection reveals a drain, consider increasing the flow to add even more to your life and the lives of those around you. This past summer I spent time tour-ing Italy. It probably wasn’t the typical Americans’ trip — mine was on the back of my Harley-Davidson with my wife, Sharee, surrounded by a group of dentists, doctors and other professionals who were also Harley riders. We were there to take in the history and culture, share professional insights and raise money for the nonprofit Learning Curves, which my brother-in-law, Dr. Roy Hammond, founded to support Smiles for Hope, a nonprofit that delivers dental and medical care and supplies to third-world communities in need. While traveling through Tuscany, I was impressed with the scenery (stunning landscapes, sweeping hills), the people (warm, open, full of life) and the timeless-ness of it all. I was also intrigued by the fountains. One of the area’s most famous fountains, Fontebranda, has three basins at different heights — the first for drink-ing water, the second for people to bring their animals to drink and the third to wash clothes and tend to other daily needs. Another notable fountain, Fonte Gaia, was named in honor of the joy the citizens felt when water first arrived in the town square in the mid-1300s. But even more awe-inspiring than the fountains of Siena’s beautiful architec-ture are the actual mechanics. During the Middle Ages, the Tuscans built a compli-cated system of underground tunnels and hydraulics to bring water from deep below the hillside city up to the surface. I share these stories to illustrate that we’re not much different from these foun-tains. Water didn’t magically appear in them. It took an immense amount of inge-nuity and effort for the Tuscans to build the network of tunnels, as well as artistry to design the masterpieces that adorned them. Just the same, a productive, abundant life

doesn’t “just happen” for us. It requires focused, consistent effort to develop skills, knowledge and abilities. And the more selective and determined we are with the way we spend our time, talents, resources and energy — and in the company we

keep — the more likely we are to “flow” with abundance.

It’s not unlike when Sharee and I were raising our six children. We often told them it’s great to be friendly with a lot of people, but be very careful whom you are friends with. Because whether we like to admit it or not, who we become 10, 20 or 30 years from now is the product

of the people we surround ourselves with, the books we read, the music we listen to, etc. In other words, what we take in goes into our waterways. Are we gathering waste water and rubbish along the way or are we flowing with pure, clear water from pristine, natural sources?

I’ve been part of a group of the nation’s leading thinkers and professionals, called the Genius Network Mastermind, for quite some time. When we meet, it’s to share some of the best thinking, the most successful strategies we’ve each garnered in our different fields. Many of these ideas have helped shape the philosophies and strategies that we’ve all incorporated in our businesses and lives over the years. As an author and speaker, I’ve also been able to share the top ideas in my books and presentations. I love seeing the light bulbs go on, the “aha” moments hap-pening in real-time as I talk to different audiences. And here’s why: Truly sound, proven ideas provide clarity, confidence and the opportunity to develop even great-er capability. It’s like “pure water” that I’ve been able to “bring up through the tunnels” and share at the public fountain.

So as you consider the kind of fountain you’d like to be, take a careful look at what you’re adding to your life, whom you’re spending time with and how you develop the habits of abundance. Conduct an honest self-assessment to clear out any negative habits that might be hold-ing you back, causing you to lose water, or worse, become an absolute drain. As you do, you’ll be on your way to an abundant life — continually springing forth with ideas, energy and success that goes on to bless other lives as well.

Doug Andrew is a best-selling author, radio talk-show host and abundant living coach.

DOUG ANDREW

ZAKARIAfrom previous page

MARKLUND

for total victory, he said; the goal has to be consensus. “In a stable democracy, if you win the election, perhaps you can do every-thing your way. But in a young democracy, we need consensus and compromise.” “We lost power,” Ghannouchi said, “but we won Tunisia.” Ghannouchi remains optimistic about

the Arab Spring. “People will not go back to the old ways of tyranny. Like the French Revolution, the Arab Spring has produced turmoil and violence and reaction — but eventually it will transform all these dic-tatorships and monarchies in the Muslim world.” Fareed Zakaria’s email address is [email protected].

(c) 2015, Washington Post Writers Group

Are you a fountain or a drain? Six aspects of your finances to review as the year ends


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Got a company mission state-ment? “Yes, Jeffrey, we do.” Really? Can you recite two words of it? “Uh, no.” How come? Dude, it’s your MISSION. It’s what is supposed to drive you into the sale — and create an atmosphere of success. It’s your mis-sion. The reason you’re not following your com-pany’s mission state-ment is because you had nothing to do with its preparation. It’s some bull about being the No. 1 company, global posi-tioning to be the best, exceed-ing customer’s expectations and building shareholder value. Barf. It’s a mission statement you’ve seen 500 times — but you can’t recite one line of it. Pretty pathetic, huh? The reason you can’t relate to it is that you don’t relate to it. And it has jack to do with making a sale. (“Jack,” if you’re not from Philadelphia, is half of a word.) So here’s my challenge — my sales challenge — to you, my sales friend: MAKE YOUR OWN MISSION STATEMENT. A sales mission statement. A sales mission statement is your affirmation, philosophy and

purpose rolled into one. It’s your personal challenge to yourself and what you seek to do each time you try for a sale. It’s an opportunity to bring your goals into focus and transfer your ide-als into the real world. It is your

success plan. And you have a built-in outcome: Make the sale! Here are the ground rules and the format to write your sales mission: • Say who and what you’re dedicated to. Are you dedicated to your profession, your

customers, your success, your business? • Define yourself. What kind of a person are you? What do you do? What is your character? • Define your service to oth-ers. Where do you specialize? Where is your expertise? Who do you serve? How do you help them? • Affirm that you will strive to get better, do new things and help others. What do you want your customers to achieve? What do you want to achieve? • Tell how it will get done. How will you employ your enthu-siasm, your attitude, your best efforts?

• State the outcome as though it has already taken place. Affirm what will happen and how it will lead to other posi-tive actions. Use your goals and visions to define your mission: • The examples you seek to set. • The ideals by which you live or seek to live by. • The goals you set out to accomplish at each sales opportu-nity. • The affirmations that you can use every day to make you a better person. Here are some words that will help you define your mission: Will, dedication, persist, honest, ethical, positive, enthusiastic, fun, learn new things, listen, help, provide, encourage, memorable, value, loyal. MAJOR CLUE: IT’S THE MISSION — YOUR SALES MISSION. Get the sale and all the trimmings. It’s your purpose for walking in the prospective customer’s door. It’s your purpose while you’re in the sales presentation. And it’s your purpose when you’re walk-ing out the door with the order. It should be your objective and your philosophy, all rolled into one. Your mission.

Looking for what to say in your sales mission statement? Do you think it’s about making lots of money or do you believe it’s about the value you provide? Here’s the mission statement that I use: Make an ethical sale that’s so value-packed and memorable that the customer is compelled to buy again, give a testimonial and tell everyone else how great I am. • The process takes time. Write a first draft. Let it sit for a few days. Reread it slowly and make changes that you feel bet-ter express your true feelings. Describe the things you think you are and the things you seek to accomplish or become. • Don’t be afraid or embar-rassed to flatter yourself. You’re writing this for yourself, not oth-ers. Affirm everything you think you are or think you want to become. Do it with a sense of pride and a spirit of adventure. • Ask your mentor(s) and associates for help. If they offer constructive criticism, thank them. If they tell you, “You’re crazy,” you’re on the right path. Stay on it. As salespeople and business leaders we each have a responsi-bility to do our best. I know I do. By writing a mission statement,

you have affirmed that responsi-bility. And carry it with you men-tally wherever you go. It is your mission. I urge you to write yours. It builds your character at the same time it lays it bare. It serves as a beacon of light in the fog of life. It is a path to take that you build on every day. It is your mission. If your sales mission state-ment is deep and honest, then your sales results will be incred-ible based on your integrity, not based on your sales skills. Not to say that sales skills aren’t a necessary part of the equation — but I would rather have a sales mission statement than a closing technique when I am battling a competitor or trying to capture an order. Post yours on the wall where you can see it every day. Sign it in big, bold Sharpie pen. Live it. Live it every day. You’re certain to make more sales as a result. It is your mission.

Jeffrey Gitomer is the author of 12 best-selling books, including The Sales Bible, The Little Red Book of Selling, and The Little Gold Book of Yes! Attitude.

© 2015 All Rights Reserved.

What drives you into the sale and drives you out with the order?

JEFFREY GITOMER


EARNINGSfrom page 17increased three-fold over the prior year and almost equaled the amount for the entire first half of 2015.

People’s Utah Bancorp People’s Utah Bancorp, based in American Fork, report-ed net income of $5.3 million, or 29 cents per share, for the quarter ended Sept. 30. That compares with $3.9 million, or 26 cents per share, for the same quarter in 2014. The company said the increase was due primarily to a $2.2 million jump in net interest income after provision for loan losses. Total deposits at the end of the quarter were $1.3 billion, up 11.5 percent from a year earlier. People’s Utah Bancorp is the holding company for People’s Intermountain Bank, with 18 locations in two divisions, Bank of American Fork and Lewiston State Bank. “We are pleased with our third-quarter operating results, bringing in higher net income for the quarter, and lowering our efficiency ratio below 60 per-cent,” Richard Beard, president and chief executive officer, said in announcing the results. “Our quarterly earnings per share and return on average equity increased over the prior year, even after absorbing a full quarter’s effect of the additional shares issued and equity raised from our initial public offering. Our quarterly net interest income was higher than in the prior year primarily due to higher average loan balances.”

Merit Medical Merit Medical Systems Inc., based in South Jordan, reported net income of $4.8 million, or 11 cents per share, for the quarter ended Sept. 30. That compares with $7.8 million, or 18 cents per share, for the same quarter in 2014. Revenues in the most recent quarter totaled $136.1 million, up from $128.8 million a year earlier. The company develops, manufactures and markets dis-posable medical devices. It has about 3,700 employees world-wide. “The third quarter, as we discussed in our second quarter call, had most of the elements of a ‘summer quarter,’” Fred P. Lampropoulos, chairman and

chief executive officer, said in announcing the results. “Revenues for the third quar-ter of 2015 were down approxi-mately $2 million from the sec-ond quarter of 2015, but were up 6 percent from the third quarter of 2014.”

ZAGG ZAGG Inc., based in Salt Lake City, reported net income of $3.7 million, or 13 cents per share, for the quarter ended Sept. 30. That compares with a net loss of $4.3 million, or 14 cents per share, for the same quarter in 2014. Net sales in the most recent quarter totaled $66.8 million, up from $60 million in the year-earlier quarter. ZAGG produces mobile device accessories, including screen protectors and mobile key-boards. “We are pleased with our third quarter performance as well as our results for the first nine months of 2015,” Randy Hales, president and chief executive officer, said in announcing the results. “We are encouraged with the increase in sales and improved profitability year-to-date, driven by continued strong screen pro-tection sales. We have achieved meaningful progress in improv-ing our operational efficiencies, which, along with the benefit of product mix, have been signifi-cant contributors to our increase in profitability. Our team’s focus and commitment to improved performance will continue to con-tribute to long-term growth and increased shareholder value.”

Utah Medical Products Utah Medical Products Inc., based in Salt Lake City, reported net income of $3 million, or 81 cents per share, for the third quar-ter ended Sept. 30. That compares with $2.8 million, or 75 cents per share, for the same quarter in 2014. Net sales in the most recent quarter totaled $9.9 million, down from $10.7 million in the year-earlier quarter. Utah Medical Products devel-ops, manufactures and markets disposable and reusable specialty medical devices. “In 3Q 2015, UTMD achieved outstanding profitabil-ity in light of the continued FX (foreign exchange) headwinds,” Kevin Cornwell, chief executive officer, said in announcing the results. “Opposite to the previous year, an improvement in our 2015

domestic business is compensat-ing for weaker international per-formance. Given the leveraged negative effect of the stronger [U.S. dollar] on profits, I believe that achieving $9 million profit margins at or better than in the previous year, which is certainly better than we expected, repre-sents excellent operating perfor-mance.”

Control4 Control4 Corp., based in Salt Lake City, reported net income of $1.2 million, or 5 cents per share, for the third quarter ended Sept. 30. That compares with $2.8 mil-lion, or 11 cents per share, in the same quarter of 2014. Revenue in the most recent quarter totaled $43.6 million, up from $39.1 million in the year-earlier quarter. Control4 provides automa-tion systems for homes and busi-nesses. “We continue to make stra-tegic investments to drive profit-able near- and long-term growth,” Martin Plaehn, chairman and chief executive officer, said in announcing the results. “Our recently released products and software are being well received in our markets, and we continue to see strong channel support from our dealers and distribu-tors.”

Holly Energy Partners Holly Energy Partners LP, based in Dallas, but with opera-tions in Utah, reported net income of $34.5 million, or 40 cents per partner unit, for the third quarter. That compares with $29.7 mil-lion, or 35 cents per unit, for the third quarter of 2014. Revenues in the most recent quarter totaled $88.4 million, up from $82.1 million in the year-earlier quarter. Holly Energy Partners (HEP) provides petroleum product and crude oil transportation, termi-nalling, storage and throughput services to the petroleum indus-try, including HollyFrontier Corp. subsidiaries and facilities in Utah. “We are pleased our finan-cial results for the third quarter of 2015 allowed us to maintain our record of raising quarterly distributions,” Mike Jennings, chief executive officer, said in announcing the results. “Recent performance and future prospects enabled us to raise our distribu-tion by a full 1 cent per unit this quarter. HEP’s steady growth is supported by our fee-based com-mercial structure with underly-ing long-term minimum commit-ments by our key customers.”

STATEMENT OF OWNERSHIP, MANAGEMENT AND CIRCULATIONPublication Title: The Enterprise Publication Number: 891-300

Filing Date: 10-1-2015 Issue Frequency: WeeklyNumber of Issues Published Annually: 51

Annual Subscription Rate: $65/$75/$85Complete Mailing Address of Publication: 825 N. 300 W. Ste. NE220

Salt Lake City, UT 84103Contact Person: David Gregersen

Telephone: (801) 533-0556Complete Mailing Address of Headquarters or General Business Office of Publisher: 825 N. 300 W.

Ste. NE220, , Salt Lake City, UT, 84103Full Names and Complete Mailing Addresses of Publisher, Editor and Managing Editor:

Publisher and Editor:R. George Gregersen P.O. Box 11778 Salt Lake City, UT 84101

Owner: Enterprise Newspaper Group Inc., P.O. Box 11778, Salt Lake City, UT 84101Known Bondholders, Mortgagees and Other Security Holders Owning or Holding 1 Percent or More of Total Amount of Bonds, Mortgages or Other Securities: noneTax Status: Has Not Changed During Preceding 12 Months

Publication Title: The Enterprise, Utah’s Business JournalIssue Date for Circulation Data Below: 9-28-2015

Average No. of Copies Each Issue During Preceding 12 Months

Total No. of Copies Mailed Outside-County Paid Subscriptions Stated on PS Form 3541 Mailed In-County Paid Subscriptions Stated on PS Form 3541Paid Distribution Outside the Mails Including Sales Through Dealers and Carriers, Street Vendors, Counter Sales and Other Paid Distribution Outside USPS Paid Distribution By Other Classes of Mail Through the USPSTotal Paid DistributionFree or Nominal Rate Outside-County Copies Included on PS Form 3541Free or Nominal Rate In-County Copies Included on PS Form 3541Free or Nominal Rate Copies Mailed at Other Classes Through the USPSTotal Free or Nominal Rate DistributionTotal DistributionCopies Not DistributedTotalPercent Paid

No. Copies of Single Issue Published Nearest to Filing Date

Total No. of Copies Mailed Outside-County Paid Subscriptions Stated on PS Form 3541 Mailed In-County Paid Subscriptions Stated on PS Form 3541Paid Distribution Outside the Mails Including Sales Through Dealers and Carriers, Street Vendors, Counter Sales and Other Paid Distribution Outside USPS Paid Distribution By Other Classes of Mail Through the USPSTotal Paid DistributionFree or Nominal Rate Outside-County Copies Included on PS Form 3541Free or Nominal Rate In-County Copies Included on PS Form 3541Free or Nominal Rate Copies Mailed at Other Classes Through the USPSTotal Free or Nominal Rate DistributionTotal DistributionCopies Not DistributedTotalPercent Paid

Signature and Title of Editor, Publisher, Business Manager or Owner: R. George Gregersen, Publisher,10-31-13

2,588

451

1,412

0

71870

0

21

216632,533552,58873.8

2,446

408

1,381

1

31,794

0

19

195662,360862,24676.2

Extent and Nature of Circulation

tions in the architecture, health-care, design and entertainment industries to personalize products and expand 2D applications to 3D versions. In the entertainment industry, 3D printing allows for personal-ization of products to consumers, like putting faces in character costumes or creating one-of-a-kind products, pieces of artwork or small structures. Healthcare applications of 3D-printed models, for example, can map the exact parts needed for a knee replacement saving time on the operating table and reducing costs of surgery. The 3D process creates models for surgery that replace a two-dimen-sional MRI scan. Three dimen-sion printing allows surgeons to look at scale model replicas of hearts, brains, kidneys and other organs for more exact knowledge during surgery. Governmental organiza-tions are using 3D in programs for the blind to feel and under-stand objects. Large replicas of the sunken USS Arizona will be placed at the ship’s memorial at Pearl Harbor and other replicas will be given to survivors of the Japanese attack on the Hawaiian naval base. “We’re excited about what we’ve built in Utah in nearly three years and where we are going,” said Ropelato. Going forward, Whiteclouds

will focus on developing busi-ness-to-business sales and strate-gic partnerships, Ropelato said. In addition to its full-color ser-vices, the company also provides services for prototyping and end-use parts in a variety of materi-als. To support its growth and expanded production capabili-ties, Whiteclouds has hired Joey Skinner as as its chief operating officer to oversee production and to develop processes that make the company as efficient as pos-sible. “A major part of our offer-ing is the capacity to deliver,” said Skinner. “We are the largest full-color 3D print services pro-vider in the world. With this new building, we have the capacity to hold that prestigious title and to continue to grow that capacity in the future.” Braden Ellis has been hired as chief revenue officer to man-age partnerships and strategic alliances to create future growth and revenues. “Our goal is to be the hub for companies looking to expand their offerings through 3D printing,” said Ellis. “Nearly every industry can benefit from this technology and we are here to make that possible in a way that is cost effective and easy to implement.” Founded in 2013, Whiteclouds uses advanced 3D printing technologies to create architectural models, prototypes, medical models, end-use parts and entertainment and video game models in over 200 differ-ent materials.

WHITECLOUDSfrom page 1

Pages 22-23 Nov. 9-15, 2015

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The Enterprise - Real Estate Section · November 9-15, 2015 · 23

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West Side of Floor 2 • Space Available: 4,300 SF • Rental Rate:$9 /SF/Year • Space Type:Office-R&D • Lease Type:Full Service • Date Available:Jul 2015 • Lease Term:12 Months • No. Parking Spaces:20 • Pct. Procurement Fee:3.00% • This space has both lab or warehouse and office, with loft- like feel. Also has double door to a dock for loading and unloading.

24 · OcNovember 9-15, 2015 · The Enterprise - Utah's Business Journal

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