utah consumer wanes slightly - home - the enterprise · up to $10,000 in funding depend-ing on...

Volume 46, Number 27 $1.50February 6, 2017www.slenterprise.com

John RogersThe Enterprise

see DEFENSE pg. 5

see CODE pg. 13

see CAI pg. 13

OF NOTE

Competitors teaming upGeneral Motors and Honda have announced they plan to invest $85 million to form a joint venture that will produce advanced hydro-gen fuel cell systems at an exist-ing GM plant near Detroit. "[Fuel cells] are not a science project anymore," said GM vice president Dan Nicholson. "They are a main-stream energy choice."

Industry News Briefspages 6-7

Business Calendarpage 9

Real Estatepage 15

Brice WallaceThe Enterprise

C

M

Y

CM

MY

CY

CMY

K

AFCU-Strip_112116.pdf 1 11/21/16 4:19 PM

A squadron of F-35A Lighning II fi fth-generation stealth fi ghter planes, piloted by the 388th and 419th Fighter Wings, prepares to depart Hill Air Force Base on Jan. 20 to participate in exercise Red Flag at Nellis Air Force Base near Las Vegas. The fi rst operational F-35As arrived at Hill AFB in October 2015 and were declared combat-ready in August 2016. Hill will be the home to three squadrons of the F-35A, totalling 78 aircraft, by the end of 2019. Photo courtesy U.S. Air Force.

Whatever the numbers, military has serious economic impact

Following a significant jump in De-cember, the index that shows consumers’attitudes toward their economic situationticked back down in January. The ZionsBankUtahConsumerAttitudeIndex(CAI)declined2.3pointsto117.5inJanuaryaf-tera5.1percenthikeinDecember.Thede-creaseresultedfromaslightlylesspositiveoutlook on the current economy and theeconomyoverthenextsixmonths. The CAI remains 11.8 points higherthanitslevel12monthsago.Bycompari-son,thenationalConsumerConfidenceIn-dexdecreased1.5pointsfromDecembertoJanuaryandcurrentlysitsat111.8. “Utahns are more confident in theeconomythantheyhavebeensincebeforetherecession,”saidScottAnderson,presi-dentandCEOofZionsBank.“Withbusi-nessesandemploymentgrowingathealthyclips,Utah’seconomyisheadedintherightdirection.” ThePresentSituationIndex,asub-in-dexoftheCAIthatmeasureshowconsum-ersfeelaboutcurrenteconomicconditions,decreased1.9pointsinJanuarybutremains10.0pointshigher than itwasat this timelastyear. Highlightsfromtheindexinclude: • Fifty-nine percent of Utahns ratebusinessconditionsasgood,a6percentin-creaseoverdecember. • Fifty-one percent ofUtahns believe

Optimism of Utah consumer wanes slightly

Code prepared to defend 'frivolous' Honeywell suit

Code Corp., a Salt Lake City-baseddesignerandmanufacturerofbarcoderead-inghardwareandsoftware,hasannouncedthatitwill"vigorously"challengealawsuitfiledon Jan. 20byHoneywell, themulti-nationalconglomeratethatproducesawidevarietyofcommercialandconsumerprod-ucts. The suit accuses Code of infringing

onsixofHoneywell’spatentsrelatedtothecompany’s barcode scanning technology,allegationsthatCodeassertsarecompletelyunfounded. “We will contest this frivolous law-suituntilcompletelyexoneratedbythele-galsystem,”saidCodeCEOGeorgePow-ellinapressstatement.“Codewillcontinuetoserveitsloyalend-usersandexpandourCodeAlliance partner network by earningourcustomers’businessandloyaltythroughour cutting-edge technology and excellent

service.Codehasbeeninthebarcodescan-ningbusinessforalmost20yearsandhasorganicallybuiltasuiteofproductsandin-tellectualproperty that arewidelyused inthehealthcaremarket.WewillnotletHon-eywell’s litigious behavior affect our cus-tomerrelationshipsinanyway.” Honeywell is a relatively recent en-trant in the barcode scanningmarket andhasdonesoprimarilythroughacquisitions.

ThedefensesectorinUtahhasa$9.2billion annual economic impact, accord-ing to preliminary figures calculated bytheUniversityofUtahinastudycommis-sionedbytheUtahDefenseAlliance. Meanwhile, a just-released Hill AirForce Base study indicates the base hada $3.34 billion economic impact in 2016,whiletheUofUstudyputsthefigureat$4.5billion.KevinSullivan, executivedirector

ofthealliance,saidthestudiesuseddiffer-entjob-impactmodeling. SullivanrecitedtheUofUstudy’sfig-uresduringtherecentNorthernUtahBusi-ness Economic Forecast event in Ogden.Thefinalreportisexpectedtobeissuedthismonth.Itusesstatisticsfrom2015,whichSullivansaidwasthemostrecentperiodforwhichfigureswereavailable. Thesector—whichincludesmilitaryinstallations,defensecontracting,grantsto

2 • February 6, 2017 • The Enterprise - Utah's Business Journal

Dixie-area business ownersandmanagersgo into2017witha decidedly optimistic outlook,according to Town & CountryBank’sfourthannualWashingtonCountyBusinessClimateSurveyconductedduringJanuaryandre-leasedlastweek. Local businesspeople wereaskedabouttheirexpectationsfor2017businessconditions,aswellastheirfirm’sforecastedearningsandhiringplans.Fully79percentofallrespondentsbelievethatlo-calconditionswillbemuchbetterormarginallybetter, up from68percentlastyear.Almost19per-centthinkconditionsinWashing-tonCountywillremainthesameas lastyear,while just2percentexpect amarginallyworse land-scape. Notably, 100 percent ofhospitality sector respondentsand 87 percent of service sec-tor respondents expect better ormuchbetterlocalconditions. Responding to questionsaboutthenationalbusinessenvi-ronmentfor2017,62percentfeelthatconditionswillbemuchbet-ter ormarginally better,with 32percentbelievingconditionswillstaythesame. A whopping 89 percent ofbusinessmanagersexpectannualearningstoexceedthoseof2016,withthehighestresponsecomingfrom the hospitality and manu-facturing sectors, at 100 percent

and 67 percent, respectively.As classified by annual reve-nue,companiesearningbetween$251,000 and $500,000 seemthemostconfident,as96percentof respondents in that categoryplan to hire. About 53 percentof all respondents expect theirearnings to increase betweenzeropercentand10percent. When asked about hiringplans, 64percentof all respon-dentssaytheyexpecttohiread-ditionalemployeesin2017,andevery manufacturing firm and57percentofconstructionbusi-nessesareplanningtodoso.No-tably, 78 percent of companieswith revenue over $1 millionplantohire. Nearly 60 percent of re-spondents believe inflationwillbeafactorthisyear. Town & Country’s topicalquestion in this year’s surveywas: “Do you think the TrumpAdministrationandRepublican-controlledCongresswillhaveamateriallypositiveimpactonthenationaleconomy?”Atotalof66percent of all respondents said,“Yes”; 13 percent said, “No”;and21percentwereunsure. Thesurveysampleincluded145 business owners and man-agers representing six industrysectors. Responses were alsogathered according to annualrevenuesize.

Utah companies wishing toexpand globally could receivehelp from a new grant programestablished by JPMorgan Chase&Co.,WorldTradeCenterUtah(WTCUtah)andSaltLakeCoun-ty.TheUtahExportAccelerationGrantwasannouncedattheWin-ter Innovation Summit held re-centlyinSaltLakeCity. WTC Utah will managethe grant, which is funded by a$200,000contributionfromJPM-organChase. “JPMorganChase&Co. se-lectedUtahtoreceivefundingbe-causeofitsstrong,emergingecon-omyandlargenumberofsmalltomedium-sized businesses,” saidDerek B. Miller, president andCEOofWTCUtah. “Companiesin Utah are well positioned forinternational expansion and thisgrant will provide themeans forthemtogetthehelptheyneed.” “JPMorganChase is pleasedto be a part of this exciting an-nouncement in support of glob-al expansion in partnership withtheWTC,” said Craig Zollinger,managing director for JPMorgan

ChaseinSaltLakeCity.“Wesup-portinitiativesthatprovideoppor-tunities forbusinesses striving totake their products and servicesto international markets. It’s thistype of grant that can transformsmallbusinessesandweviewthisas a critical step in providing asuccessfulframeworkasitrelatestoexportacceleration.” WTC Utah and Salt LakeCounty previously worked withJPMorganChaseandtheBrook-ingsInstitutionontheGlobalCit-iesInitiative(GCI).TheoutcomeofGCIwasaplantoincreaseex-portsintheSaltLakemetroarea.The Utah Export Accelerationgrantwillbeanimportantpartofaccomplishingthisgoal. “SaltLakeCounty isprimedforaneweraofeconomicdevel-opment,which includes focusingonglobalopportunities.Thisgen-erousgrantwillhelpkick-startourregionalexportplanandwillleadtomorehiringbybusinesses thatare serving global customers,”said county Mayor Ben McAd-ams.

Funds from the Utah ExportAcceleration Grant must be usedto pay for services or resourc-es that help the awardee’s com-pany grow internationally.A fewexamples of services/resourcesthat would qualify include legaland consulting work, money toconduct international market re-search, help covering the cost oftranslation servicesor funding to

attendatrademission. The program launched lastmonthandapplicationsareavail-ableonlineatwww.wtcutah.com.Submissionswillbe reviewedonanongoingbasis,soabusinessin-terested in receiving funding canapplyanytimeoverthenextyear.Companiesareeligibletoreceiveupto$10,000infundingdepend-ing on specific needs related to

theirinternationalexpansion. International business is animportantpartoftheUtah’secon-omy.Thestateexported$13.3bil-lionworthofgoodsin2015andisrankedfourthinthenationforex-port growth.This grantwill pro-vide access to resources compa-niesneedtohelpthemexportforthefirst timeorexpand intonewinternationalmarkets.

PH 801-616-2947Dena Dastrup

[email protected]

914 South State Street, Orem, UT 84097Endura Marketing & Sales International, LTD

PH 801-224-3002

The University of Utah hasearned the top spot in a rankingoftop50U.S.collegesforaspir-ingentrepreneurs. LendEDU, an independentmarketplaceforstudentloansandstudent loan refinancing, said itsstudyconsidered“theopportuni-ties that are available for thoseinterested in entrepreneurship ingeneral.” Rankings were basedon the number of entrepreneur-shipcoursesoffered,average tu-itionand fees, andentrepreneur-shipresourcesavailable.

LendEDU noted in its rank-ings that the UofU and its Las-sondeEntrepreneurInstituteofferabout 40 courses specifically re-latedtoentrepreneurshipandhavebelow-averagetuitionandfeesof$12,222. “Students have a chance tocompete in the Utah Entrepre-neurChallenge,which is a state-wide competition focused onstudent business-models,” Lend-EDUsaid.“Cashprizestotalover$100,000totheselectedwinners.Thegrandprizeis$40,000whileotherawardsareofferedtoteams

wholeadinsubcategories.Possi-bly the most important programoffered through the university isthe ‘Company Launch’ program.Herestudentswillhaveanexcessof resources available to themsuch as office space, a businessmentor,legalservicesandmore.” Therestofthetop10,inor-der, are the University of Iowa,Georgia Institute of Technology,University of Michigan, UCLA,University of Delaware, BabsonCollege,UniversityofSouthCar-olina,UniversityofTexasandAr-izonaStateUniversity.

Grant program announced to help Utah companies expand globally

UofU tops for helping entrepreneurs

Report: 2017 optimism strong among Dixie businesspeople

The Enterprise - Utah's Business Journal • February 6, 2017 • 3

USPS # 891-300

Published weekly by: Enterprise Newspaper Group

825 North 300 West Ste. NE220Salt Lake City, Utah 84103

801-533-0556 FAX 801-533-0684www.slenterprise.com

PUBLISHER & EDITOR R. George Gregersen

PRESIDENT David G. Gregersen [email protected]

VP/GENERAL SALES MANAGER Dale Dimond [email protected]

MANAGING EDITOR John M. Rogers [email protected]

CONTROLLER Richard Taylor [email protected]

OFFICE MANAGER Dionne Halverson [email protected]

REAL ESTATE SECTION [email protected]

CIRCULATION Diana Rogers [email protected]

ADVERTISING INQUIRIES [email protected]

TO CONTACT NEWSROOM [email protected]

ART SUBMISSIONS [email protected]

Subscription Rates: Online only, $65 per year Print only, $75 per year Online and Print, $85 per year

Any opinions expressed by the columnists are not necessarily the opinions or policy of Enterprise, it’s owners or managers. Reproduction or use of contents without written consent of the publisher is prohibited. All rights reserved.

© 2013 Enterprise Newspaper Group Inc.Periodical postage paid at Salt Lake City, Utah

POSTMASTER: Send address corrections to:P.O. Box 11778, Downtown Station

Salt Lake City, Utah 84147www.mcneilengineering.com

801-255-7700Follow Us On:

For Your Engineering,Surveying, Roofing and Paving

Consulting & LandscapeArchitecture

needs

the answerCivil

Engineering

LaserScanning &Surveying

StructuralEngineering

Consulting:Paving, Roofing&

LandscapeArchitecture

Owen BrinkerhoffQuick & Clean Car Wash, Owner

Commercial Real Estate, Construction,Development, Equipment, Retail,

Multi-Family, Industrial, Hospitality, Office

Helping Utah Businesses Shine

Steve Diamond801-409-5000 [email protected]

TheDavisChamberofCom-merceWomen inBusinessCom-mitteehasannounced therecipi-entofits2017AthenaAward.ThegroupwillhonorChantelChaseofZions Bank at its annualAthenaLuncheononFeb.16attheDavisConferenceCenterinLayton. Chase is a vice president

andabusinessbankerwithinZi-ons Bank’s Women’s FinancialGroup.Shestartedasatellerandhasheldvariouspositions,includ-ingDavisCountyAreapresidentand Women’s Financial Groupmanager. Recently, she was partofateamofbankerswhowerena-tionallyrecognizedforthefourth

yearwithaTopFemaleBankingTeamaward. Chaseisalsoanactivemem-ber of the community. She is apast chair of theDavisChamberof Commerce, acts as the trea-surer for the National Center onShakenBabySyndromeand is amember of the board of the Salt

Lake Chamber’sWomen’s Busi-nessCenter.HerpastinvolvementincludestheBountifulDavisArtsCouncil, Bountiful Rotary, Da-vis Reads advisory board, Da-vis County Commissioners GalaCommittee, aswell as theDavisCountyChildren’sJusticeCenterFriendsboard.

Chase is married to DougChaseandisthemotherofthree. The Athena InternationalAward is given annually to indi-viduals who demonstrate excel-lence, creativity and initiative intheirbusinessorprofession,pro-videservicebycontributingtimeandenergytoimprovethequalityoflifeforothersinthecommunityandactivelyassistwomen. Details about the luncheonare available at [email protected]. Huntsman Family Invest-

ments(HFI) ofSaltLakeCityhasannounceditsacquisitionof GTATeleGuam (GTA), a major pro-vider of telecommunications ser-vices in Guam, from funds ser-viced by Advantage Partners, aJapaneseprivateequityfirm.Thetransaction is subject to federaland Guam regulatory approvalsandisexpectedtocloselaterthisyear. GTAprovideswireless,high-speed Internet, Internet protocoltelevision and fixed voice ser-vices in Guam and is a part of aconsortium of U.S. and Asiantelecommunications companiesthat are constructing SEA-US, anew submarine cable system toconnect Southeast Asia and the United States via Guam. “This transaction representsourfirst investment in Guam andwe are excited to be associatedwiththepremierprovideroftele-communications services on theisland.Wearecommittedtoensur-ingourcustomershave thehigh-est-qualityexperience,”said PaulHuntsman,presidentandCEOofHuntsman. “In keeping with ourfamily’scommitmenttothecom-munitiesinwhichweoperate,wehopethisinvestmentleadstomoreopportunities to invest back intothe Guam community.” HuntsmansaidGTAwillcon-tinue to be locally managed andoperated. “Advantage Partners hasbeen an exceptional partner overthe last five years, by providingGTAwith the necessary resourc-

es to transform into a full com-munications service provider andgreatly enhancing our high-speedwirelessandinhomeInternetandTVexperienceforourcustomers,”said RobertHaulbrook,GTApresi-dentandCEO.“IampleasedthatAdvantage Partners has identifiedHuntsman Family Investments asthe right new investor for GTA.

HFI will enable our company tocontinue the development of thebusiness to better serve the needsof our growing consumer, enter-prise and government customerbase.” HuntsmanFamilyInvestmentsrecentlyacquiredAmericanPacificCorp.,whichsuppliesrocket-gradeammonium perchlorate used in

rocketsandmissilesbytheDepart-mentofDefenseandNASA. Paul Huntsman also recently acquiredtheSalt Lake Tribunenewspaper. HuntsmanFamilyInvestmentsis theprivate investmentplatformforthe JonM.HuntsmanSr.fam-ilythatseekstomakedirect,long-terminvestmentsindiversifiedin-dustriesaroundtheglobe.

Davis Chamber Women in Business name Chase as 2017 Athena Award winner

Huntsman Family Investments buys Guam telecom company


Varian Medical Systems,basedinPaloAlto,California,hascompleted its spin-off of VarexImagingCorp.,basedinSaltLakeCity. The common stock of Var-exhasbeguntradingontheNas-daq Global Select Market underthe ticker symbol “VREX.” Thespin-offhadbeenannouncedlastspring. Varex designs andmanufac-turesX-rayimagingcomponents,which include tubes, digital flat-panel detectors and other imageprocessingsolutions.Thecompo-nentsareusedinmedicalimagingaswellasinindustrialandsecuri-tyimagingapplications.Thecom-pany has roughly 1,400 employ-eesatmanufacturingandservicecentersitesinNorthAmerica,Eu-ropeandAsia. Varian manufactures medi-cal devices and software fortreating cancer and other medi-cal conditions with radiothera-py, radiosurgery, proton therapyandbrachytherapy.Thecompanyalsosuppliesinformaticssoftwareforcancertreatmentcenters.SaltLake City had served as head-quarters for its X-ray productsmanufacturingoperation. Varianstockholdersreceivedfourth-tenthsof a shareofVarexstock for every share of VarianstocktheyheldasofJan.20.Va-rexhasapproximately38millionsharesoutstanding.Varexmadea$200millioncashpaymenttoVar-ian,fundedthroughits$300mil-lionrevolvingcreditfacility.Therestoftheundrawnfundsremainavailabletofundworkingcapitalneedsandothergeneralcorporatepurposes.

Varex will be led by SunnySanyal, president and chief ex-ecutiveofficer.SanyalpreviouslywaspresidentofVarian’simagingcomponentsbusiness. “The past few months havebeenverybusyaswepreparedforthespin-offofVarexImagingandalso announced the planned ac-quisition of themedical imagingbusinessofPerkinElmer,”Sanyalsaid. “Much of our time recent-lyhasbeenfilledwithmeetings,callsand roadshowpresentationswith the investor and analystcommunity.Overall,thepastyearhas been an exciting time for usandIwanttothankallthepeopleatVarianandVarexwhodevotedsomuchtimeandeffort tomaketheseparationasuccess.” Other management officialsare chief financial officer Clar-ence Verhoef, previously Variancorporate controller and generalcounsel and corporate secretaryKim Honeysett, previously vicepresident and assistant generalcounsel and assistant corporatesecretaryforVarian. In addition to Sanyal,VarexboardmembersareDr.RuedigerNaumann-Etienne (chairman),owner and managing director ofIntertecGroupsince1989;Chris-tineA.Tsingos,chieffinancialof-ficerofBio-RadLaboratoriesInc.since2002;DowR.Wilson,pres-ident and chief executive officerof Varian Medical Systems; Dr.Erich R. Reinhardt, chairman oftheboardofMedicalValleyEuro-paischeMetropolRegioninNürn-berginGermanyandformerpres-ident and chief executive officerofSiemensHealthcare (formerlySiemensMedicalSolutions);and

JayK.Kunkel, senior vice presi-dentandpresidentofAsia-PacificoperationsofLeerCorp. Varexexpectsfiscalyear2017revenues to be up 3 percent to 4percent over the $620 million infiscal 2016. It expectsGAAPnetearningstobebetween$1.20and$1.30perdilutedshareforthesec-ondthroughfourthquartersoffis-cal2017.

Varex’s history dates to the1930swith thecreationofEimacProducts, which produced high-quality, high-power transmittertubes.Eimacmoved itsmanufac-turingoperationstoUtahafterre-ceivingalargemilitarycontractin1941. It later expanded activitiestoincludenewtubetypes,suchastelevisioncathoderaytubes(CRT)andmicrowavetubesforradarap-plications,andmergedwithVarian

in1965. InDecember,Varianagreedtoacquirethemedicalimagingbusi-nessofPerkinElmerInc.,basedinWaltham,Massachusetts,asanad-dition to the Varian business for$276 million. That PerkinElmerbusiness has about 280 employ-ees,withabaseinCaliforniaandoperations inGermany, theNeth-erlandsandtheUnitedKingdom.

Salt Lake City-based6th Wave Innovations Corp., ananotechnologycompanythatde-velops proprietary molecularlyimprinted polymers for mineralsextraction inminingapplications,hasteamedupwithTriLateralEn-ergy LLC of Jackson,Wyoming,toformGeolithicCorp.Thejoint-venture company was formed todevelopmethodsforextractionoflithium and other minerals fromgeothermalbrine. TriLateral Energy, an inde-pendentenergydeveloperwithex-tensivegeothermaloperationsandconstructionexperience,willman-agethecommercialaspectsoftheventurewhile6thWavewillman-age the technical aspects as thecompany moves to construct itsfirstpilotplantatanunnamedex-istinggeothermalfacility. According to a release from6th Wave, the company has al-

readycommencedlaboratorytest-ing of proprietary lithium extrac-tion technology, which it sayscould significantly reduce the costof producing lithium and otherminerals compared to traditionalmining and othermineral extrac-tion techniques. Such minerals arenaturallypresent in thebrineuti-lized by many existing geother-malpowerplants in theU.S.andworldwide, 6th Wave said. GeolithicCorp.hope to con-struct a pilot project extractionplantataU.S.geothermalenergyfacility with a design that will in-tegratewiththefacility’sexistingbrine handling facilities to extractthelithiumandothermineralspri-or to reinjection of the brine intothegeothermalreservoir. Under the joint-ventureagreement, 6th Wavewill retainall rights to its proprietary molecu-

larlyimprintedpolymernanotech-nologybutwillprovideanexclu-sivelicensetoGeolithicCorp.forgeothermalmineralsextraction. JonathanGluckman,CEOof6th Wave, said, “We are pleasedat the opportunity towork close-ly with Trilateral Energy, whichhasdecadesofgeothermalpowerplant construction and operationsexperienceandextensivecontactsin the industry. I am confidentthis joint venture will establishproofofconceptwithapilotlith-iumextractionplantin the United States.” “I was an early investor in6th Waveandbelievethattheap-plication of this groundbreakingextraction technology to geother-malbrinehasthepotentialtosig-nificantlylowerlithiumandothermineral production costs,” saidDon O’Shei, CEO of TriLateralEnergy.

Mity Inc., the parent com-pany of Orem-based furnituremanufacturer MityLite, has ac-quired HolsagCanada, a private-ly owned manufacturer of chairsandcasegoodsfocusedonthese-nior living, healthcare, educationandhospitalitymarkets.Mitysaiditbought thecompany toexpandits footprint and product capabil-ityintheglobalcommercialfurni-ture marketplace through HolsagCanada’s strong NorthAmericanhealthcare presence. The transferofownershipwaseffectiveJan.18andtermswerenotannounced.

“The acquisition of Hol-sag Canada fits perfectly intoMity Inc.’s strategic vision to bea multi-tiered, broad-based sup-plier of industry leading prod-uctsacrossvarioussectorswithintargeted industries,” said Mity’sCEOandpresident,JohnDudash. Mike Gregory, president ofMityInc.’snewlyformedHealth-careDivision,willoverseemanu-facturingandoperationsofHolsagCanada as well as sales into thehealthcare market. Holsag salesoutside of the healthcare marketwillbe integrated intoMityLite’s

salesorganizationandsignificant-lyexpandMityLite’swoodfurni-tureproductcollections. Holsag Canada CEO BjornAlfredsson said, “WearepleasedtobepartoftheMityInc.family.MityLite possesses complimen-tary product lines and brings ad-ditional resources and strategicvisionthatwillaidHolsag’scon-tinuedgrowthforyearstocome.” MityInc.,theparentcompa-nyfor MityLite, BRODA Seating and now Holsag Canada, wasfoundedin1987andemploys250peopleinitsUtahoperations.

SouthJordan-basedJWCap-ital has acquired Ogden-basedsustainable floral bouquet com-pany Eco Flower from founderMeaganBowman.Termswerenotdisclosed. EcoFlowerhasbecomesuc-cessfulbymakingfloralbouquetsand home decor items out of re-cycled and sustainablematerials.Established in 2014, Eco Flowerhasgrowntoemploy120people,hasreceivedmultiplenationalandlocal business awards and is thenew tenant of an historic ware-house located in downtown Og-den. The company was also re-cently featuredonABC’s“SharkTank.” With the acquisition of EcoFlower,JWCapitalfoundersRyanWestwoodandTravisJohnsonareeager toaccelerate thegrowthofthisthrivingcompany,theysaidinarelease.“Meagancreatedafan-tastic,eco-friendly,sustainableal-ternativetofreshfloralbouquets.

Eco Flower bouquets and homedecoritemsaremadetowithstandtime,aconceptthathasproventobe extremely popular among thecompany’snewandloyalcustom-ers,” said Westwood. “We sin-cerelywishMeagantheverybestinhernewbusinessventures.” “This business has hugegrowth potential, and we nowhave thepeopleandprocesses inplace tomake thathappen,” saidJohnson. “We are excited forMeaganandherfuture,andwishherthebest.” “Wearegratefulforthefoun-dation that Meagan created forEco Flower,” said John Allard,CEOofEcoFlower.“Nowweareready to take the company evenfurther,movingforwardtostrong,sustainablegrowth.” Usingwood,paper,pineconeflowers, old brooches and cornhusks, Eco Flower creates wed-ding bouquets, floral arrange-mentsandotherhomedécor.

Orem's Mity Inc. acquires Holsag Canada

WesternNewbornSpecialists,a neonatal physician group prac-ticeinSaltLakeCity,hasbeenac-quiredbyMEDNAXInc.ofFortLauderdale,Florida. Western Newborn Special-istswasfoundedin1997andem-ployssixfull-timeneonatologists.The practice provides neonatal,delivery, newborn nursery, pedi-atric and consultative services atSt. Mark’s Hospital, Jordan Val-leyMedicalCenter,JordanValley

MedicalCenterWestValleyCam-pusandLonePeakHospital. “With a 20-year history ofquality, community-based neo-natal services, Western NewbornSpecialists is excited to have apartnertosupportourgrowthanddevelopment as our industry be-comes evenmore complex,” saidDr. Cameron Swinton, who willserveasmedicaldirector.“Engag-ingourphysiciansinMEDNAX’sresearch, education and quality

initiatives will offer innovativethinkingandunparalleledresourc-es to strengthen our practice andqualityofservice.” The acquisition adds to theservices MEDNAX provides inUtah across multiple specialtieswhichincludeneonatology,mater-nalfetalmedicine,OBhospitalistandradiologyservices. Termsofthetransactionwerenotdisclosedexcept that itwasacashtransaction.

Varian Medical completes spin-off of Salt Lake-based Varex Imaging Systems

SLC, Wyoming firms join to form Geolithic Corp.

Florida firm buys Salt Lake neonatal group

JW Capital buys Eco Flower

The Enterprise - Utah's Business Journal • February 6, 2017 • 5DEFENSEfrom page 1

see EARNINGS page 13

YOUR BUSINESS IS PREPARED FOR A DISASTER...

ARE YOUR EMPLOYEES?

PROTECT YOUR MOST VALUABLE ASSET... YOUR EMPLOYEE'S.

READYMYBUSINESS.COM | 801-953-5648

ORDER A 72

HOUR KIT

FOR EACH

EMPLOYEE

TODAY

CORPORATE FINANCIAL REPORTS The following are recent fi-nancial reports as posted by se-lectedUtahcorporations:

Headwaters Headwaters Inc., based inSouth Jordan, reported net in-come of $6.7million, or 9 centsper share for thefiscalfirstquar-terendedDec.31.Thatcompareswith, $12.4 million, or 17 centsper share, for the same quarter ayearearlier. Income from continuing op-erations was $6.7 million, downfrom$12.9millionayearearlier. Revenue in the most recentquartertotaled$255.6million,upfrom $218.4 million in the year-earlierperiod. Headwaters provides prod-ucts, technologies and servicesto the constructionmaterials andbuilding products markets. BoralLimited, based in Australia, hasagreed toacquireHeadwaters forabout$2.6billion. “One of our most importantobjectives for2017 is to increase

supply of high-quality fly ash,and we made meaningful prog-ress during the December quar-ter,” Kirk A. Benson, chairmanand chief executive officer, saidinannouncing the results.“Manyofour2017flyashcontractinitia-tivescametofruition,resultinginanimportantexpansionofexpect-ed supply. We’ve executed fournew contracts and also executedanamendmenttooneofoursup-ply agreements that substantiallyextendeditsterm.” Benson said sales from netnew fly ash sources should top500,000tonsin2017.Increasestothecompany’sflyashstorageca-pacity are ahead of schedule andshould exceed Headwaters’ fore-cast, allofwhich shouldcontrib-ute to a strong year for its Con-struction Materials segment, hesaid.

People’s Utah Bancorp People’sUtahBancorp,basedinAmericanFork,reportednetin-comeof$6.5million,or36cents

per share, for the fourth quarterended Dec. 31. That compareswith$4.9million,or27centspershare,forthesamequarterayearearlier. For the full year 2016, thecompany reported net income of$23.6million,or$1.30pershare.That compares with $19.6 mil-lion,or$1.17pershare,for2015. For the full year, the com-panyreportnetinterestmarginof4.61 percent, return on averageequityof10.68percent,returnonaverageassetsof1.4percent,effi-ciencyratioof56.45percent,loangrowth of 7 percent year-over-year,andaverageloangrowthof11.4percentduringtheyear.Totaldeposits at year-end were $1.43billion, up from $1.31 billion attheendof2015. People’sUtahBancorpistheholdingcompanyforPeople’sIn-termountainBank,with 18 loca-tions in two banking divisions,BankofAmericanForkandLew-

TheU.S.SmallBusinessAd-ministration (SBA) has namedJohn L. Brown II the acting ad-ministratorforRegionVIII,whichincludes Utah. Brown will bebasedinDenver. In addition to his regionaladministrator duties, Brown willcontinue to serve as the SBA’sSouth Dakota district director inSiouxFalls,apositionhehasheldsince 2005. As acting regionaladministrator, Brown will over-see six district offices located inColorado,Montana,NorthDako-ta,SouthDakota,UtahandWyo-ming. Brown succeeds Betsy Mar-key,whowas appointed in Janu-ary2016byPres.Obamatoservein the position and served untilJan.20.Apermanentregionalad-ministratorwill be namedby thenew incoming SBA administra-torwhowillbeappointedby theTrumpadministration. BrownbeganhisSBAcareerin1983andhasservedastheact-ingdistrictdirectorinseveralSBAoffices, including Los Angeles,WisconsinandSouthDakota.

state or educational institutionsand veteran-related activities —accounts for109,000 jobs in thestate. It accounts for5.8percentofUtahjobs,7.1percentofUtahearnings ($6.4 billion) and 6.2percent of state’s GDP, Sullivansaid. “[It’s] kind of a pretty bigdogandIdon’tthinkmostpeoplewould have recognized or real-izedintermsofwhatthedefensesectorbringstothestateintermsofeconomicimpact,”hetoldthecrowd. ThestudyindicatesthatHillAirForceBasehas47,000 jobs,including16,000activedutyandAirForcecivilianemployees(in-cludingabout5,000military). Sullivan’s presentation indi-cated that the TooeleArmy De-pot supports 1,100 jobs and hasaneconomicimpactof$114mil-lion; the Utah National Guardsupports 13,000 jobs and has a$840millionimpact;reserves,re-cruitingandROTCsupport6,700jobsandhavea$430millionim-pact; and veteran activities sup-port24,000jobsandhavea$1.9billionimpact. “One of the interestingthingsaboutthemilitaryinstalla-tions in this state is they largelyemployAirForceorArmycivil-ians,”Sullivan said. “That’s dif-ferent than most other militaryinstallations.Sowhenwe’retalk-ing about these jobs, we’re nottalking about transitory militaryguys, for the most part. We’retalkingaboutUtahns.” The Hill economic impactstatement showed there were27,365 total personnel withinHillAFB, including 5,636 mili-tary, 5,591 military dependentsand16,138civilians.Itindicatedafederalpayrollof$1.34billionandexpendituresof$710millionin 2016. It also showed that thebasecreatedapproximately$1.29billioninjobs. The annual report was pre-pared by Hill cost analysts andwas calculatedusing identifiableoff-baselocalareaspendingfromgrossexpenditures. AsforthenearfutureofHillAirForceBase,Sullivansaidheexpects “more of the same,” al-thoughwithsomecaveats.Thingscould change if there is anotherround of Base Realignment andClosure (BRAC), he said. Sul-livan said the final report alsowillincludeananalysisoftheef-fectsifHillAirForceBasewereclosed,althoughhepresentednofigures at the event. “It’s prettyscary,quitefrankly,”hesaid. Unless and until a closurehappens,thebasewillbeaddingworkrelatedtotheF-35aircraft,“buttherealityiswe’renotretir-ingtheF-16sandwe’renotretir-ingA-10s as quickly as theAir

Forcewouldlike,sothatisnotgo-ingaway,”hesaid.Thebaseisdi-vesting C-130work done for thepast15-20yearssothatitcanac-commodatetheF-35s,headded. Likewise, the base is well-positioned to be involved in theGround-BasedStrategicDeterrent(GBSD) program, which will re-placetheIntercontinentalBallisticMissileSystem(ICBM)program.Hillhasbeen“ICBMCentral”forthe nation, he said,with the basehandling all depot-level mainte-nanceforU.S.ICBMs. TheGBSDprogram—whichfigures to cost $60 billion to $80billion—“lookstopromisemoreworkload, obviously,” Sullivansaid. “That $60 or $80 billion isnotallgoingtobespentinthestateofUtah,butsomeofitwill.We’realreadyseeingcontractorsbegintomigrate around the base who areinterestedinthatwork.” TheTrumpadministrationhasspoken about increasing defensespending, freezing federal hir-ing,reducingthecostoftheF-35and upgrading F-18s, but, Sulli-vansaid,“wehavetoseewhatthatmeans forHillAirForceBase inthefuture,”Sullivansaid. The Northern Utah BusinessEconomic Forecast event wassponsored by Bank of Utah, theOgden/Weber Chamber of Com-merce and Weber State Univer-sity’s JohnB.GoddardSchoolofBusinessandEconomics.

SBA appoints Brown acting region director


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.

ASSOCIATIONS • The National Association of State Procurement Officials (NASPO)recentlyelecteditsoffi-cers, withKent Beers elected toserveastreasurer.Beersisexecu-tive director of the Division ofPurchasing for the state of Utah.Officersandboardmemberswereelected duringNASPO’s nationalconferencelastfallinMinneapolis.NASPO is a nonprofit associa-tiondedicatedtostrengtheningtheprocurement community througheducation,researchandcommuni-cation. • Trina Quinney-Packard,executive director ofYouthCare,has been named president of theboard of directors of National Association of Therapeutic Schools and Programs (NATSAP). Quinney-Packard, ofDraper, took office at the asso-ciation’s annual conference inTucson,Arizona. The associationis a national resource for pro-grams and professionals assistingyoungpeoplewithemotionalandbehavioral difficulties. Quinney-PackardhasbeenwithYouthCareformore than15years, including10yearsasexecutivedirector.Shehas taught at-risk youth in pub-lic,privateandresidentialsettingsfromelementarytosecondarylev-els. In addition, her educationalbackground includes experienceinlearningdisabilities,testingandbehavior modification. BeforejoiningtheYouthCareteam,Trinaworked as the director of educa-tion for Olympus View Hospitalforfiveyears.Shealsowasexec-utive director of the NorthStarPrograminOregon.Hereducationincludes a bachelor’s degree inspecial and elementary educationfrom Southern Utah Universityand a master’s of educationalcounselingfromtheUniversityofPhoenix.

BANKING • Celtic Bank,SaltLakeCity,hasselectedMichael FosmarktoleaditsnewSpecialtyCommercialFinanceDivision.Thenewdepart-

ment bringstogether sev-eral establishedlines of busi-ness within thebank, includ-ing Leasing& EquipmentF i n a n c e ,Cons t ruc t i on

Financing, Asset-Based Lendingand Renewable Energy. Fosmarkhasmore than 30 years of bank-ing and finance experience. He

joinedCeltic Bank in 2015, hav-ingworked theprevious12yearsbuilding a local Utah bank fromthegroundup. • America First Credit Union, Riverdale, has openeda location inside Lin’s FreshMarket, 150 N. Main St., CedarCity. It is the second branchopening this year for the creditunion, which now has 122 loca-tions inUtah,Nevada, Idaho andArizona. Jennifer Wilson will serveasbranchmanager.ShejoinsAmerica Firstwithmore than 10yearsofexperienceinretailbank-ing sales and management. Shebegan her career in themortgagefieldworkingoncustomerservicefor home loans before transition-ingtotheretailbankingside.

CONTESTS • The U.S. Small Business Administration (SBA) haslaunched the third year ofInnovateHER,acashprizecom-petition to showcase the mostinnovative products and servicesthatimpactandempowerthelivesofwomenandfamilies.Applicantsdonotneed tobewomen-owned.All entries must include a busi-ness plan and a short descriptionofhowthebusiness/ideafitschal-lengecriteria.Entriesmustbesub-mitted at [email protected] byApril 1. Live pitchestakeplaceApril14.Submissionofthe localwinner to the semi-finalroundtakesplaceMay12.AfinalroundoccursJuly27atalocationtobedetermined.

CORPORATE • The board of directors ofthe Larry H. Miller Group of Companies has elected Steve Miller as vice chairman. Millerwillactasaconduitamongcom-panymanagement, the board andthefamilyowners.Millerwillalsoassumeresponsibilitiesofthechairintheeventsheisunavailable.Hewillcontinueasavotingmemberof the board of directors, which

he has been since its creation,andasamemberoftheexecutivecommittee.Millerhasworkedforthefamily-ownedGroupformorethan 24 years in various lead-ership roles, including presidentof Miller Sports Properties (nowLHMSE), president of the LarryH. Miller Tour of Utah, generalmanagerofLarryH.MillerFleetLease, general manager of LarryH. Miller Subaru, and directorof new and used car operationsforMillerAutomotiveOperations.Miller is currently serving as thechair of the Vivint Smart HomeArena Renovation Committee, a$125millionprojectannouncedinSeptember.

DIVIDENDS • Zions Bancorporation,SaltLakeCity,hasannouncedthatitsboardofdirectorshasdeclareda regular quarterly dividend of 8centspercommonshare.Thedivi-dend ispayableFeb.23 toshare-holders of record Feb. 16. Theboard of directors also declaredregular quarterly cash dividendson the company’s various per-petual preferred shares. The cashdividendon theseriesA,F,G,HandJsharesarepayableMarch15toshareholdersofrecordMarch1.ThecashdividendontheSeriesIispayableJune15toshareholdersofrecordJune1. • People’s Utah Bancorp,AmericanFork,hasannouncedthatitsboardofdirectorshasdeclaredaquarterlydividendof8centspercommon share. The dividend ispayable Feb. 13 to shareholdersof record Feb. 6. People’s UtahBancorp is the holding companyfor People’s Intermountain Bank,with 18 locations in two bankingdivisions,BankofAmericanForkandLewistonStateBank,andoneleasing division, GrowthFundingEquipmentFinance. • The board of directors ofDominion, based inVirginia,hasdeclared a quarterly dividend of75.5 cents per share of commonstock. The dividend is payableMarch20tostockholdersofrecordMarch 3. It is the 356th con-secutive dividend that Dominionor its predecessor company haspaid holders of common stock.Salt Lake City-based QuestarCorp. and Dominion ResourcesInc. combined companies lastSeptember. • The board of directorsof Holly Energy Partners LP has declared a cash distributionof 60.75 cents per unit for the2016 fourthquarter.That is a7.5percent increase over the 56.5cents-per-unit distribution forthe 2015 fourth quarter. It repre-sents the 49th consecutive quar-terly distribution increase. HEPis based in Dallas and providespetroleum product and crude oil

transportation, terminalling, stor-age and throughput services tothe petroleum industry, includingHollyFrontier Corp. subsidiaries.Through subsidiaries and jointventures, it owns and/or operatespetroleumproductandcrudegath-eringpipelines,tankageandtermi-nals inUtahandnineotherstatesand refinery processing units inKansasandUtah.

EDUCATION/TRAINING • Park City Culinary Institute (PCCI) has opened aculinary school at 1484 S. StateSt., Salt Lake City. PCCI willretain its current space in ParkCity at the Deer Valley Club forcatered private events and cor-porate team-building programs.Nearly all of PCCI’s certificateprograms in culinary arts will beheldatthenewSaltLakelocation.Newstudentscanchoosebetweeneight-and16-weekprograms.Theschool offers daytime and eve-ningprograms.TheschooltappedKin Ng ofMJSAArchitecture todesigntheproject.

FINANCE • Simple Finance,SaltLakeCity, has changed its name toAcima Credit. It will continueto provide lease-purchase financ-ing and service and support toretailmerchantsandtheircustom-ers who come from a variety ofcreditpositions.Thenamechangewas driven by a trademark issuebetween the Utah company andSimple Bank, based in Oregon,whichwasawardedthetrademarkfor “Simple” last July. “Acima”means “Rise Above,” the com-panysaid.

FOOD •Alocalfoodgrantprogram,calledtheLocal Food Microgrant Fund, has been launched bySalt Lake City Mayor Jackie BiscupskiandAlison EinersonoftheDowntown Farmers Market.Thefundwillassist localfarmersin growingmore sustainable pro-duce.SaltLakeCityhasallocated$85,000 to the fund, which willbe administered through the non-profit Urban Food Connections

of Utah (UFCU). The grant pro-gram will allow area farmers,such as those who sell at theDowntown Farmers Market andWinterMarket at Rio Grande, toapplyforfundstoaccesstechnol-ogy, education, tools and equip-ment to growmore organic localproduce. Examples include theinstallationofsustainablefarmingtechniques, building hoop hous-es or greenhouses to extend thegrowing season, the purchase oforganicseed,continuingeducationfor farmers, and sponsorship oflaborcosts.

LAW • Shareholders at Parsons Behle & Latimer, Salt LakeCity, have elected Raymond J. Etcheverry,Hal J. Pos,Michael R. Kealy (Reno office),Michael P. Petrogeorge and Kristine E. Johnsonasthefirm’s2017board

ofdirectors.Etcheverrywillserveas chairman of the board. Pos

will serve asvice chairmanand president.P e t r o g eo rg eandKealycon-tinue as vicep r e s i d e n t s .Johnson con-tinues as vicepresident and

secretary.Etcheverryisamember

Michael Kealy

see BRIEFS next page

Kristine Johnson

Industry Briefs

Michael Fosmark

Michael Petrogeorge

Hal Pos

BEST KEPT SECRET IN

UTAH. Wire rope is where we

started. One of the largest shops

in the Intermountain West. Slings made

to your specifications. Our staff has over 60 years of experience.

We carry more than heavy construction

equipment. Light equipment in

stock. Mixers, saws, pumps, generators, jumping jacks, and

much more.

Raymond Etcheverry


tionsofRockyMountainPower,followedbyhercurrentpositionattheUofU.ShegraduatedfromtheUofUwithabachelorofartsdegreeinbroadcastjournalism. • SageCity Media Group,Park City, has named Janet Jorgensen as publisher of itsPark City and Salt Lake Cityproperties. Those propertiesinclude Park City Magazine, Salt Lake City/Park City Bride & Groom Magazine, Park City Menu Guide,Things to Do,park-citymag.com and saltlakebrid-eandgroom.com. Jorgensen is aformerownerandsoleproprietorofJanetJorgensenConsulting,aSalt Lake City-based marketingand advertising consulting firm,andformersenioraccountexecu-tive with Salt Lake Magazine.She founded Janet JorgensenConsulting in 2014 after morethan 15 years in the magazinebusiness for local, regional andnationaltitles. • Sorenson Advertising,Provo, has undergone a rebrandand has changed its name toRelic. Adam Stoker, presidentand chief executive officer,said the new name “representsa time when ad agencies hadone purpose in mind: to drivesales.” In September, Stokerannounced the purchase ofSorensonAdvertisingwith threepartners—JordanBarker, chiefdigital officer; Colby Remund,chief creative officer; and NickChristensen. The company alsorecently moved locations fromnorthOremtodowntownProvo. • SkyRocket Media, aPleasant Grove-based digitalmarketing company, has beenrebranded as Best Company.The company said thatwith therebranding, it is focusing exclu-sivelyonthedevelopmentof itsconsumer review website, best-company.com.

SERVICES • Ancestry, Lehi, hasappointed Nat Natarajan as executivevicepresidentofprod-uct and technology and Vineet Mehra as executive vice presi-

dent and chiefmarketing officer.Bothwill be based inAncestry’sSan Francisco office. Natarajanmost recently worked at Intuit,where he was senior vice presi-dent and chief information secu-rity and fraud officer. At Intuit,healsowaschieftechnologyoffi-cer and senior vice president ofproduct and engineering for theConsumer Tax Group. He alsoledglobalengineering,operationsandplatformteamsatPayPal,andwasoneoftheearlymembersontheteamthatfoundedTravelocity.com.Mehra joinsAncestry fromJohnson&Johnson,wherehewasglobal president of the compa-ny’sflagshipBabyCarebusiness.His tenure at J&J also includedserving as president for J&J’sGlobalMarketing Services orga-nization.PriortoJ&J,Mehraheldleadership positions at NovartisConsumer Health, General MillsandProcter&Gamble.

TECHNOLOGY/LIFE SCIENCES • Venafi,basedinSaltLakeCity and Palo Alto, California,has appointedElizabeth Ireland as chief marketing officer. She

will lead thedevelopmentofthe company’sproduct posi-tioning, marketstrategy andgo-to-markete x e c u t i o n .Ireland has

more than25yearsofmarketingexperience, including more thana decade in the cyber securityindustry. Prior to joiningVenafi,Ireland was vice president ofmarketing and business develop-ment for Tripwire. She also hasheldexecutivemarketingrolesatnCircleandExtensity.

ofthefirm’slitigationdepartmentandpracticesintheareasofanti-trust, intellectual property, secu-rities, class action defense andcomplex business litigation. Posis amemberof the environmen-tal, energyandnatural resourcesdepartment and concentrates hispracticeon environmental reme-diationandminingmatters.Kealyis a member of the litigationdepartment and practices com-mercial litigation and real estatelitigation.Petrogeorgeisamem-ber of the litigation departmentand concentrates his practice onrealestatelitigationandcomplexcommercial litigation. Johnsonis a member of the intellectualpropertydepartmentandconcen-tratesherpracticeonintellectualpropertylitigation,includingpat-entinfringementandtradesecretlitigation,aswellasmaintainingacommerciallitigationpractice.

MEDIA/MARKETING • KUER has hired Maria O’Mara as general manager,effective Feb. 15. O’Mara suc-ceedsJohn Greene,whorecentlyretired after 28 years of service.O’Mara currently is communi-

cationsdirectorand primarymedia spokes-person at theUniversity ofUtah. She has20 years ofexperience inreporting andnews manage-

ment.Shebeganher career as areporteratKUERandhassuper-visedavarietyofteamsthatpro-duced news and information atthe Salt Lake Observer,Deseret News and KSL-TV. She alsoworkedinpublicrelations,man-aging the external communica-

from previous page

Industry Briefs

Everything for theContractors

We rent the best

4343 Century Drive Salt Lake City, UT 84123

801- 262-5761www.centuryeq.com

Maria O'Mara

Elizabeth Ireland


see WELLS FARGO pg. 13

Output On: January 30, 2017 2:36 PM High-Resolution PDF - PRINT READY

Wells Fargo Insurance, partof Wells Fargo & Co., has re-leased its 2017 Insurance Mar-ketOutlook andEmployeeBen-efits Outlook reports.Accordingto the surveys, this year’s prop-erty and casualty insurancemar-ketwillagainbefavorabletobuy-ers,withmostsectorsseeingaflatto10percentdecreaseinpricing.On the contrary,more change isexpected in the health insurance

industry,raisingconcernsforem-ployers about how potential newhealthcare reform legislationmayaffecttheiremployeebenefitspro-grams. Thereportsalsohighlightan-ticipated changes in the rate andpricing environment, includingmarket capacity, cost of prescrip-tiondrugsand thedecliningratesof cyber security liability. Addi-tionally, both outlooks address

howpotentialchangestotheACAmayaffect the insurance industryoverall.

Employee Benefi ts According to the EmployeeBenefits Outlook, employers willcontinuetofacerisingmedicalandprescriptiondrugcosts.Healthin-surancepremiumshave increased213 percent since 1999 and willcontinuetorise.Spendingonspe-cialtydrugsalsocontinuestorise

with no immediate signs of de-creasesformedicationscommonlyusedtotreatcomplex,chronicandrareconditions. “Intoday’senvironment,em-ployersmustworkalittlehardertoimprovethehealthoftheirpopula-tion while minimizing increasingcostsfortheiremployees.Increas-ing the levelofenrollmentof theworkforce intomedical programsisalsocritical,especiallyforcom-

panieswithahighpercentageofmillennials, who will make uphalf of theworkforce by 2020,”said Dan Gowen, national prac-tice leaderwithWells Fargo In-surance. According to the report, 75percent of employers are con-cerned about employment reten-tion rates for millennials, whileonly 28 percent plan to makechanges to benefit plans to bemore attractive to themillennialpopulation. The report also found thatboth telehealth and in-personclinicswillplayaroleinthede-liveryofcarein2017andbeyond.Telehealthincludesvirtualmedi-cal services through live videoanddigital-and-monitoringtools.Convenience care clinics, likethose offered in grocery storesandpharmacies,willalsoremainattractivetoconsumersthisyear,particularlyasaccess toprimarycarebecomesmoredifficult.

Property and Casualty “Inthepropertyandcasualtysegment, themarketwillcontin-ue to see rate reductions for themajority of customers, althoughslightly lower than prior years,”said Doug O’Brien, nationalpractice leader for Wells FargoCasualty and Alternative RiskGroup.“Potentialchangesto theACAcouldalsoimpactworkers’liability, as injured employeesmayfilemoreworkers’compen-sation claims, in lieu of health-careclaims.” There’ssomegoodnewsforcyber liability insurance. Insur-anceratesaredecliningduetothelackof recent largedataprivacyeventsaswellasincreasedcom-petitionamonginsuranceprovid-ers,accordingtothereport.Still,cybersecurity concerns remainveryhigh. “The threat landscape isevolvingdaily.Makingdata andnetworksecurityacompanypri-oritywill helpmitigate loss, butnot prevent it,” said MeredithSchnur, national practice leaderforWellsFargoInsuranceProfes-sionalRiskPractice.“Forcompa-nieswithastrongcultureofpro-tecting data and systems, this isan ideal time to purchase cyberliabilityinsurance.” The Insurance Market Out-look report also highlights keytrendswithin18sectorsofthein-dustry,including: • Property. The sector re-mains extremely competitivefromapricingperspective. • Liability. Automobile lia-bilitycapacityremainsadequate,butshrinkingsomewhatforlargerfleetrisks. • Worker’s compensation.Deteriorating returns on invest-ment will drive more stringent

Report: Property and casualty insurance steady; health insurance volatile


Calendar

see CALENDAR page 12

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

Feb. 7, 7:30-9 a.m. “Introduction to Corporate Boards: The Why and How of Board Membership.” TheWomen’s Leadership Institute,facilitator Natalie Gochnourand panelists Peggy Thompson,Gretchen McClain, Ron Jibsonand Tania Binder will discusswhatyouneedtoknowtoserveonacorporateboard.LocationistheKemC.Gardner Policy Institute,411 E. South Temple, Salt LakeCity. Cost is $75. Details are atslchamber.com.

Feb. 7, 11:30 a.m.-1 p.m. Business Alliance Net-working Lunch,aDavisChamberof Commerce event. Location isBoondocks, 525 Deseret Drive,Kaysville. No RSVP required.Details are at davischamberof-commerce.com.

Feb. 7, 11:30 a.m.-2:30 p.m. Utah Compensation Survey Workshop, a Mountain StatesEmployersCouncil(MSEC),withinformation about the compensa-tion and benefit surveys that theEmployers Council will conductin 2017 and the benefits of par-ticipation.LocationisMSECUtahOffice,175W.200S,Suite2005,SaltLakeCity.Free.Detailsareatmsec.org.

Feb. 8-11 RootsTech, a family his-tory convention. Activities alsoinclude a FamilyDiscoveryDay,Innovator Summit and InnovatorShowdown. Among the speakersare LeVar Burton, Buddy “CakeBoss” Valastro and the Scottbrothers. Location is Salt PalaceConvention Center, 100 S. WestTemple, Salt Lake City. Cost is$189. Details are at https://www.rootstech.org/.

Feb. 8, 9:45-11 a.m. Online Advertising Training,aMurrayAreaChamberof Commerce event featuringGoogleMarketingprosdiscussinghow to use online advertising totarget customers, create ad cam-paigns for various devices, andmeasure the success of an onlinecampaign. Location is Firetoss,332 E. 500 S., Salt Lake City.Free. Details and registration areat https://partnersconnect.with-google.com/event/firetoss.

Feb. 8, 11:30 a.m.-1 p.m. Professionals Networking

Group, a ChamberWestevent.Location isGoldenCorral,3399 W. 3500 S., West ValleyCity. No RSVP required. Detailsareatchamberwest.org.

Feb. 8, 3-5 p.m. “Wrapping Your Head Around It: How to Write a Business Plan,” a Salt LakeChamber Women’s BusinessCenter “Business Essentials”event. Location is the Salt LakeChamber, 175 E. 400 S., Suite600, Salt LakeCity.Cost is $10.Detailsareatslchamber.com.

Feb. 8, 5-6:30 p.m. Business After Hours,an Ogden/Weber Chamber ofCommerce event. Location isOgdenEcclesConferenceCenter,2415 Washington Blvd., Ogden.Costis$10.Detailsareatogden-weberchamber.com.

Feb. 9, noon-1 p.m. Business Educational Workshop, a Holladay ChamberofCommerceeventwithinforma-tion about how to leverage yourcompetitors’ marketing efforts,how to measure yourself againstindustry standards, how to useeffective keywords/SEO in yourcontent marketing, and local andonlineresourcesyoucanuseasaguide formarketing and industrytrends and standards. Location ismyBusinessBar,4535S.2300E.,Holladay.Costis$10.Detailsareat holladaychamberofcommerce.org.

Feb. 9, 5-7 p.m. Legislative Reception,aSaltLake Chamber event. Locationis Utah State Capitol, Hall ofGovernors, 350N. State St., SaltLakeCity.Details are at slcham-ber.com.

Feb. 10, 7:30-8:30 a.m. Eggs & Issues, a MurrayArea Chamber of Commerceevent. Speaker Brandon Dewof the Local Operators Union,will discuss "Local OperatingEngineers." Location is The Egg& IRestaurants, 1919E.MurrayHolladayRoad,Holladay.Detailsareatmurraychamber.org.

Feb. 10, 3:30-5 p.m. UTC Public Policy Forum,aUtahTechnologyCouncilevent.UTC’sPublicPolicyForummeetsregularly to discuss issues thataffectthestateanditstechindus-try. Location is the Utah StateCapitol, 350 State St., Salt LakeCity.Detailsareatutahtech.org.

Feb. 11, 7:30 a.m.-1:30 p.m. FIRST Day,withmore than850 K-12 students competing

with robots they have designed,programmed and built.Activitiesinclude two events where robotscompetehead-to-head:TheFIRSTTech Challenge (FTC) StateChampionship features 36 teamsof students 12-18 years old atWeber State University’s WSU’sSwenson Gym. The FIRSTLego League (FLL) Utah NorthChampionship is for grades 4-8.FIRSTLegoLeagueJr.teamswillparticipate in the FLL Jr. ExpoExtraordinaire,forgradesK-3.

Feb. 11, 9-10:30 a.m. Breakfast with Legislators,presented by the Murray AreaChamber of Commerce andIntermountain Medical Center.Open to the public. Location isIntermountain Medical Center,5121 Cottonwood St., Murray.Detailsareatmurraychamber.org.

Feb. 14, 8-9:30 a.m. “Bringing Out the Best: A Discussion About Benefit Corporations,” a panel discus-sionsponsoredbytheUtahOfficeof Outdoor Recreation. LocationisGovernor’sOfficeofEconomicDevelopment,60E.SouthTemple,third floor, Salt Lake City. Free,but registration is encouraged.Registration can be completed atEventbrite.com.

Feb. 14, 11:30 a.m.-2 p.m. RSVP Luncheon, a UtahHispanic Chamber of Commerceevent. Location is La HaciendaRestaurant, 1248 S. RedwoodRoad,SaltLakeCity.Costis$17.Detailsareathttp://www.utahhcc.com/.

Feb. 14, 11:30 a.m.-1 p.m. Business Women’s Forum Luncheon, with the theme“KeepingYourHeartandLifestyleHealthy In 2017.” Presenters areLori Williams, associate direc-tor of marketing for Universityof Utah Health Care, and NancyPearce, assistant vice presidentand branch manager of the EastBroadwayDowntownWellsFargoBranch.Locationis50WestClub& Café, 50 W. Broadway, SaltLakeCity. Cost is $27 formem-bers,$35fornonmembers.Detailsareatslchamber.com.

Feb. 14, 2-4 p.m. Utah Disruptive Technology Seminar.Eventfeaturesapaneldis-cussionfeaturingJohnHuntsman,director of member services fortheUtahTechnologyCouncil,plusrepresentatives of the EconomicDevelopment Corporation ofUtah, WIS Aerospace, LocalMotors, Composite Automation,Utah Advanced Materials andManufacturing Initiative andFunded Today. Location is

Ogden Corporate Alliance, 2225Washington Blvd., Ogden. Free.Detailsareatutahtech.org.

Feb. 15-16, 6-7:30 p.m. Point of the Mountain Workshops, organized bythe Point of the MountainDevelopment Commission andEnvisionUtah togetpublic inputaboutthefutureofthearea,whichincludes 20,000 acres of unde-veloped property and the currentUtahStatePrison. Feb. 15work-shopisatLovelandLivingPlanetAquarium, 12033 Lone PeakParkway, Draper. Feb. 16 work-shopisattheAshtonGardensvisi-tor center at Thanksgiving Point, 3900N.GardenDrive,Lehi.Free.Detailsareatpointofthemountain-future.org.

Feb. 15, 9-10 a.m. “Value Positioning Your Company and Products,”aU.S.Small Business Administration(SBA)event.LocationistheSBA,125S.StateSt.,Room2222,SaltLakeCity. Free.Registration canbecompletedatEventbrite.com.

Feb. 15, 11:30 a.m.-1 p.m. Professionals Networking Group, a ChamberWestevent.Location isGoldenCorral,3399 W. 3500 S., West ValleyCity. No RSVP required. Detailsareatchamberwest.org.

Feb. 15, 11:30 a.m.-1 p.m. UTC TechLunch, a UtahTechnologyCouncil(UTC)mem-ber-only networking event. DanChristensen,seniorsoftwareengi-neer at Micro Focus, will dis-cuss“InsidetheSausageFactory:Managing Software ComponentVulnerabilities.” Location isMicro Focus, 1800Novell Place,Provo.Detailsareatutahtech.org.

Feb. 15, 3-4:30 p.m. “Jump Start: Intro to Entrepreneurship,” a Salt LakeChamberevent.Seminaristaughtby Deb Bilbao, business consul-tant at the Women’s BusinessCenter. Location is the Salt LakeChamber, 175 E. 400 S., Suite600,SaltLakeCity.Free.Detailsareatslchamber.com.

Feb. 16-17 2017 Investors Choice Venture Capital Conference,produced by VentureCapital.org.Eventwill featuremore than twodozeninvestorpresentationsfromsomeofthehotteststartupcompa-nies in Utah and from surround-ing states. Activities begin withskiing and snowboardingFeb.16at the Solitude Mountain Resort,followed by a private recep-tion that evening at the GallivanCenter.ActivitiesFeb.17 include

the conference 8 a.m.-6 p.m. atthe Grand America Hotel, 555S.MainSt., SaltLakeCity,withactivities including the companypresentations,akeynoteluncheon,afternoon breakout panel discus-sions and a 4-6 p.m. reception.Details are at https://venture-capital.org/vc-events/investors-choice/.TicketscanbepurchasedatEventbrite.com.

Feb. 16-17 Utah Plumbing & Heating Plumbers Association (UPHCA) Annual Conference. Eventincludes continuing educationclasses, exhibits, banquet, enter-tainment, and a lunchwith guestspeaker Phil Case. Location isDixie Conference Center, 1835S. Convention Center Drive, St.George.Detailsareatuphca.net

Feb. 16, 11:30 a.m.-1:30 p.m. Peak Awards Luncheon,a Sandy Area Chamber ofCommerce event. Awards willbe presented for Small BusinessWoman of the Year, SmallBusinessMan of theYear, SmallBusinessof theYear,CommunityServiceAward,ClarkandBarbaraStringham Volunteer of theYear, Ambassador of the Year,President’sExcellenceoftheYearand Chairman’s DistinguishedCorporatePartner.LocationistheSalt Lake Community CollegeMillerCampus,KarenGailMillerConference Center, 9750 S. 300W.,Sandy.Cost is$35forcham-ber members, $40 for nonmem-bers.Detailsareatsandychamber.com.

Feb. 16, 11:30 a.m.-1 p.m. Lunch & Learn, a MurrayArea Chamber of Commerceevent. Speakers fromDexMediawilldiscussadvertising.LocationisRedLobster,298E.WinchesterSt.,Murray.Costis$15formem-bers,$20fornonmembers.Detailsareatmurraychamber.org.

Feb. 16, 11:30 a.m.-1 p.m. Business Resource Center Workshop, a West JordanChamber of Commerce event.Speaker Clay Neves of PersonalSalesDynamicwillpresentinfor-mation about how to turn net-working into sales. Location isthe Community Room, 8000 S.Redwood Road, West Jordan.Detailsareatwestjordanchamber.com.

Feb. 16, 11:15 a.m.-1 p.m. ATHENA Award Ceremony and Women in Business/Chamber Luncheon, a DavisChamber of Commerce event.Recipient of the 2017 ATHENA


Opinion

FAREED ZAKARIA

see ZAKARIA next page

VERONIQUE de RUGY

What’s the greatest debt producer that God ever created?

Trump is reversing 70 years of American foreign policy

Libertarians and conservatives areskepticalof thegovernment’sability todoanythingwell.Butthere’sonethingthegov-ernmentexcelsatproducing:debt.Granted,thisisn’tagoodthing,butwemustnever-theless recognize thegovernment’s skillatit. And just when you think itcan’t outdo itself, our govern-mentsurprisesyouwithanextraproductionofdebtanddeficit—justlikethat. Caseinpoint:thenewCon-gressionalBudgetOffice’sbud-get and economic outlook for2017to2027.Themainconclu-sionisthatthegovernmentcon-tinuestospendmoremoney—fasterandaboveandbeyondtherevenueitcollects.Inotherwords,ourdebtisgrowingbig-time. Obviously,wecan’tindefinitelyspend21 percent of our gross domestic productwhile collecting 17.8 percent in revenue.But it’s particularly worrisome becausewe’realreadystartingfromapointofhighdeficit and debt levels. According to theCBO,under thecurrent law,deficitspend-ingwillbe$559billionin2017,butitwillreachthetrillion-dollarmarkin2023andgoontototal$1.4trillionin2027.Asashare

oftheeconomy,thedeficitwillgofrom2.9percentin2017to5percentin2027. Thinkaboutthatforasecond.Assum-ing thereareno recessions in thenextde-cade, the CBO projects that within fiveyears,wewillreturntothedeficitlevelswe

hadduringtheGreatRecession.Atleastbackthen,weknewthatthingswere going to improve at somepoint. And they did, albeit veryslowly.Butitwon’tbethecasethistime.Ifanything,itcouldgetworseiftheeconomyweretoslowdownevenfurther.Do you know what else growsalong with deficits? Debt and the

interest we pay as a price for borrowingmoneyfromdomesticandforeigninvestors.Thedebtasashareoftheeconomywillgofrom77.5percent in2017 to88.9percentin 2027, while our interest payments willballoonto$768billionin10years,upfrom$270billionthisyear. Asalways,theculpritbehindthesedef-icitanddebtexplosions isgrowingspend-ingonSocialSecurity,Medicare,Medicaidand interest on our debt. These programshavelongbeenandremainthedriverofourfuturedebt.TheCBOreportsthattheywill

consume$5trillionofour$6.5trillion2027budget. Not toworry,you say; theTrumpad-ministrationhaspromisedtorepealtheAf-fordable CareAct. It’s true that the CBObudgetdoesn’ttakeunderconsiderationthepromises made by the new president, in-cludingtheoneaboutgettingridofhispre-decessor’s healthcare law. Unfortunately,wewillhavetowaitandseewhatthenewpresidentandCongressactuallyendupdo-ingonthatfront. While it’s clear that we are headingtoward some partial repeal of the law, therumorsaboutwhattheyareplanningtore-place it with aren’t too reassuring. First,eventhoughthey’vehadsevenyearstodoit, the Republicans still haven’t coalescedaround a replacement plan. Some wouldliketokeepafewexpensivefeaturesoftheACA, such as the ones benefiting depen-dentswhoareyoungerthan26andpeoplewith pre-existing conditions. Pres. Trumphasmade someoff-the-cuff remarksaboutinsuring every American, too. In otherwords,thereplacementplanmayendupbe-ingadrainonthebudgetjustliketheACA. Weweretoldlastweekthat thepresi-dentwouldproposesomebigspendingcuts.Callmeacynic,butI’llbelieveitwhenIsee

themimplemented.Foronething,asmen-tionedearlier,Trumphasrepeatedlysaidhewon’ttouchSocialSecurityorMedicare—thetwoprogramstheCBOsayswillbere-sponsibleformostofthespendinggrowthinthenextdecadeifnothingchanges.Trumpalsomade clear that hewantsmassive in-frastructurespendingandmorespendingondefense— and he talked about expensivepaidfamilyleave,aswellaslargechildtaxcredits,onthecampaigntrail.Ifyouaddtothatpotentialtradewarsandincreasedlev-els of cronyism, we could see even moregovernmentspendingthanwehaveproject-ednow. Tobefair,Trumpwants toseefunda-mentaltaxreformsandderegulationimple-mented.However,it’shardtoseehowthesepolicies,nomatterhowgreattheyare,couldgenerateenoughgrowth—andhencerev-enue—tocompensateforallthatnewandold spending. That is why, in four years,Trumpmaybe able to truthfully call him-self, not Barack Obama, the biggest debtcreatorofalltime.

Veronique de Rugy is a senior research fel-low at the Mercatus Center at George Ma-son University.

COPYRIGHT 2017 CREATORS.COM

Inhisfirstdaysinoffice,DonaldTrumphasbeguntoreversethedomesticpoliciesof the previous eight years. ButwithregardtoAmerica’srelationswiththeworld,Trumpseemsfarmore radical. Inword and deed,he appears to be walking awayfrom the idea ofAmerica at thecenterofanopen, rule-based in-ternationalorder.Thiswouldbeareversalofmorethan70yearsofAmericanforeignpolicy. InanessayinThe New York Review of Books,JessicaMathewspointsoutthatsince1945,Americansofbothpoliticalpartieshaveacceptedthreeprinciples.First,thatAmerica’s security is enhanced by itsbroadanddeepalliancesaroundtheworld.Second,thatanopenglobaleconomyisnotazero-sumgamebutratherallowsAmericatoprosperandotherstogrow.Andfinally,whiletherewasdebateaboutwhetherdic-tatorships were to be “tolerated,managedorconfronted,”intheendtherewasafaithindemocracyanditsadvantages.Mathewsnotesthatfor30yearsnow,DonaldTrumphas attacked theseviews as costlynaivetéthathasallowedtheworldtoripoffAmeri-ca. Given the magnitude of the policyshift,itisworthrecallingwhyAmericaad-optedthisoutward-lookingapproachinthefirstplace.ItallstartedwithFranklinRoos-evelt,asNigelHamiltonexplainsinhissu-perbbookCommander in Chief.By1943,while victory was still a distant prospect,Roosevelt began to imagine a postwar in-ternationalsystem.Hamiltonbrilliantlysetsout Roosevelt’s foresight, determination

andskillinestablishinganewworldorder. Neither of FDR’s key wartime allies

was much interested in his ap-proach.JosefStalin,acommunistautocrat,wouldresistmanyofhisideasandWinstonChurchillwasstubbornlycommittedtocontinu-ingBritain’sruleoveritsvastem-pire. Roosevelt wanted some-thing different: to establish anenduringpeaceinwhichfreedomcouldflourish.Thatmeanttheun-conditionalsurrenderofGermany

andJapan,towipetheslatecleanoffascismand militarism.And it meant that BritainandFrancewouldhavetodecolonizeAsiaandAfrica.Rooseveltdespised thesystemofcolonialexploitationandhebelievedthatultimatelyitcreatedtheconditionsthatledtorevolutionandwar.Healsowantedopentrade,ratherthantheruinousprotectionismofthe1930s.Tosecureallthis,FDRunder-stood thatAmericawould need to be per-manentlyengagedwiththeworldinawayithadneverbeenbefore. Hamiltonvividlydescribeshow,inthemidst of directingmilitary strategy in thelargestconflictinhumanhistory,Rooseveltalways kept his eye on postwar planning.With Congress and the public still suspi-ciousofAmericaninvolvement,hejuggledvarious plans and proposals tomake surethat this time, unlike after World War I,America would help keep the peace. Heneeded Churchill’s and Stalin’s support,which iswhyhekept trekkingaround theglobetomeetthematsummits.(Tounder-standthestrainonFDR,keepinmindthatRoosevelt’s trip tomeetChurchill atCas-

ablanca in 1943 entailed a long train ridetoMiami, a 10-hour flight to Trinidad, anine-hourflight toBrazil,a19-hourflightto Gambia and finally, a nine-hour flighttoCasablanca.Allthisforamanwhowasparalyzed,hada failingheartandhadnottakenaplanesince1932.) Roosevelt’svisionforaglobalsystemdidnotworkexactlyashehadhoped,chief-lybecauseoftheSovietUnionanditspost-war behavior.Butmuchof it did happen,from theUnitedNations toanopenglob-al trading system to thedecolonizationofEurope’sempires.AndthegreatholdouttoAmerica’s vision, the SovietUnion, itselfcollapsedin1991.

The results have been astonishing.Manyhistorianshavepointedout thatwelive in unprecedented times. The periodsince1945hasbeenmarkedbytheabsenceofwarbetweentheworld’smajorpowers.Mostofpriorhumanhistoryisataleofeco-nomicmercantilism,political conflict andrepeatedwar.Since1945,wehavelivedinwhatJohnLewisGaddiscalled“theLongPeace.”ThroughtheLongPeacewehavealsohaddecadesofrisingincomes,livingstandardsandhealththroughouttheworld,includingintheUnitedStates. WhenRooseveltwasbeginningtode-


Opinion

MARKLUND

ZAKARIAfrom previous page

Retirement planning for single parents: A challenge that must be met Howdoesasingleparentplanforre-tirement? Diligently. Regularly.Rigorously. Herearesomestepsthatmayhelp,whetheryouarejustbegin-ning to do this or well on yourway: Setting a household bud-getcanbeawisefirststep.Mosthouseholds livewithout budgets— and because of that financialinattention, some of the moneytheycouldsaveandinvestroutinelydisap-pears.Whenyousetandlivebyabudget,you discipline yourself to spend only somuchandsave(orinvest)someoftherest.You need not track every single expense,buttryandtrackyourexpensesbycatego-ry.Youmayfindmoneytosaveasaresult. Savefirst,investnext.Ifyouarestart-ing from scratch, creating an emergencyfund should be thefirst priority. It shouldgrow large enough to meet six to ninemonthsof living expenses. If nofinancialemergencytranspires,thenyouwillendupwithacashreserveforretirementaswellasinvestments. You may want to invest less aggres-sively than you once did.Young,marriedcouplescantakeonalotofriskastheyin-vest.Divorceesorwidowersmaynotwantto—therecanbetoomuchonthelineandtoolittletimelefttotryandrecoupportfo-

lio losses.To understand the level of riskthatmaybeappropriateforyouatthispoint in life,chatwithafidu-ciaryinvestmentadvisor.There may be great wisdom in“setting it and forgetting it.” Lifewillhandyouallmannerofdistrac-tions,includingfinancialpressuresto distract you from the necessityof retirement saving. You cannotbedistractedawayfromthis.So,towardoffsuchahazard,useretire-

mentsavingsvehiclesthatletyoumakeau-tomatic, regularcontributions.Yourwork-placeretirementplan,forexample,orotherinvestmentaccounts thatallowthem.Thisway,youdon’thavetothinkaboutwhetherornottomakeretirementaccountcontribu-tions;youjustdo. Doyouhavelifeinsuranceoranestateplan?Bothofthesebecomehugelyimpor-tantwhenyouareasingleparent.Anykindoflifeinsuranceisbetterthannone.Ifyouhaveminorchildren,youhavetheoptionofcreatingatrustandnamingthetrustasthebeneficiaryofwhateverpolicyyouchoose. Disabilityinsuranceisalsoagoodideaif youwork in a physically taxing career.Nameaguardianforyourchildrenincasetheworsthappens. Have you reviewed the beneficiarynames on your accounts and policies? Ifyouaredivorcedorwidowed,yourformer

spousemaystillbe theprimarybeneficia-ryofyourIRA,your life insurancepolicyor your investment account. If beneficiaryformsarenotupdated,problemsmayresult. College planning should take a back-seat to retirement planning.Your childrenwillneed to recognize thatwhen it comestohighereducation, theywill likelybeontheirown.Whentheyare18or20,youmaybe50or55—andtheaverageretirementageinthiscountryiscurrently63.Drawingdownyourretirementaccountsinyour50sisaseriousmistakeandyoushouldnoten-tertainthatidea.Anyattempttobuildacol-lege fundshouldbesecondary tobuildingandgrowingyourretirementfund. Realize that your cash flow situationmight change as retirement nears. Yourhouseholdmaybereceivingchildsupport,alimony,insurancepaymentsand,perhaps,evenSocialSecurityincome.Intime,some

of these income streamsmaydryup.Canyoureplacethemwithnewones?Areyouprepared to ask for a raise or look for ahigher-payingjobiftheydryupintheyearsprecedingyourretirement?Areyouwillingtoworkpart-timeinretirementtooffsetthatlostincome? Consult a fiduciary financial advisorwho has worked with single parents.Askanothersingleparentwhomheorsheturnstoforsuchconsulting,orseekoutsomeonewhohaswrittenaboutthetopic.Youwanttoplanyourfuturewithsomeonewhohassomefamiliaritywiththeexperience,eitherpersonallyorthroughhelpingothersinyourshoes.

Mark Lund is the author of The Effective In-vestor and provides investment and retire-ment planning for individuals and 401(k) consul ting for small businesses through Stonecreek Wealth Advisors Inc.

signhissystem,hewasthedissenter.Thedominant foreignpolicy ideas inAmericaat the timewere represented by amove-ment called “America First.” Nativist,isolationist and anti-Semitic, the move-mentheldthatanoutward-orientedAmer-icawasapolicyforsuckers.IttookHitler

andWorldWarII tomakeAmericansrec-ognizethat,foracountryofAmerica’ssizeandscale,isolationandnarrowself-interestwould lead toglobal insecurityanddisas-ter.Onewonderswhatitwilltaketomaketoday’sAmericaFirstersrelearn thatsamelesson. Fareed Zakaria’s email address is [email protected].

(c) 2017, Washington Post Writers Group

8


see CALENDAR next page

CALENDARfrom page 9AwardisChantelChaseofZionsBank. Location is the DavisConferenceCenter,1651N.700W.,Layton.Detailsareatdavis-chamberofcommerce.com.

Feb. 17, 7:30-8:30 a.m. Eggs & Issues, a MurrayArea Chamber of Commerceevent. Speaker to be deter-mined. Location is The Egg &I Restaurants, 1919 E. MurrayHolladayRoad,Holladay.Detailsareatmurraychamber.org.

Feb. 17, 3:30-5 p.m. UTC Public Policy Forum,a Utah Technology Councilevent. UTC’s Public PolicyForummeetsregularlytodiscussissues that affect the state andits tech industry.Location is theUtah State Capitol, 350 StateSt.,SaltLakeCity.Detailsareatutahtech.org.

Feb. 17, 7 p.m. Ambassador John and Marcia Price World Affairs Lecture Series, aUtahCouncilforCitizenDiplomacy event, inpartnership with WestminsterCollege.SpeakerGen.DavidG.Perkins,Four-StarCommandingGeneral, U.S. Army Trainingand Doctrine Command, willdiscuss “Developing Leadersto Succeed on an InternationalStage.” Location is the JewettCenter for the PerformingArts,Westminster College, 1840 S.1300 E., Salt Lake City. Free.Detailsareathttp://utahdiploma-cy.org/programs/world-affairs-lecture-series.

Feb. 21, 11:30 a.m.-1 p.m. Business Alliance Networking Lunch, a DavisChamber of Commerce event.Location is Boondocks, 525Deseret Drive, Kaysville. NoRSVP required. Details are atdavischamberofcommerce.com.

Feb. 22, 6:30-8 a.m. Legislative Leadership Breakfast, a Utah TechnologyCouncil (UTC) event featuringHouseandSenateleadershipdis-cussing top priorities during thefinalweeks of the 2017 legisla-tive session. Location is UtahStateCapitol,350StateSt.,SaltLakeCity.Cost is$25 forUTCmembers, $50 for nonmembers.Detailsareatutahtech.org.

Feb. 22, 8-9:30 a.m. UTC Public Policy Forum,a Utah Technology Councilevent. UTC’s Public PolicyForummeetsregularlytodiscussissues that affect the state andits tech industry.Location is theUtah State Capitol, 350 StateSt.,SaltLakeCity.Detailsareatutahtech.org.

Feb. 22, 11:30 a.m.-1 p.m. Women in Business Luncheon,aSandyAreaChamberofCommerceevent.SpeakerChrisRedgrave,vicepresidentofcom-munity relations at Zions Bank,will discuss “Gender Differencesin the Workplace.” Location isMountain America Credit UnionCorporate Campus, 7181 S.CampusViewDrive,WestJordan.Detailsareatsandychamber.com.

Feb. 22, 11:30 a.m. to 1 p.m. “ChamberWest Presents” Luncheon, a ChamberWestevent. Speakers are Col. Brad“Detroit” Lyons, commander of388th Fighter Wing, and Col.David “Shooter” Smith, com-mander of 419th Fighter Wing,HillAir Force Base. Location isTownePlaceMarriottWestValleyCity,5473W.HighMarketDrive,WestValleyCity.Costis$20withRSVP,$30atthedoor.RSVPscanbecompletedatchamberwest.orgorbycalling(801)977-8755.

Feb. 22, 3-5 p.m. “Make It Legal and Make It Right,” a Salt LakeChamber Women’s BusinessCenter “Business Essentials”event. Location is the Salt LakeChamber, 175 E. 400 S., Suite600, SaltLakeCity.Cost is $10.Detailsareatslchamber.com.

Feb. 28-March 1, 7 a.m.-4:30 p.m. 2017 Utah Safety Conference & Expo, presented by the UtahSafetyCouncil.Eventwillincludebreakoutsessions,keynotespeak-ers, networking luncheons, andan expo highlighting the latestin safety products and services.Keynote speakers are Jeffrey S.Young, senior vice president andchiefmarketing officer ofYoungElectricSignCo. (YESCO),whowill discuss lessons learned dur-ing his appearance on the CBStelevision series “UndercoverBoss” in January2016;andAmyReese Anderson, managing part-nerandfounderofREESCapital,whowilldiscuss“FiveIncrediblyImportant Lessons Vital forGuiding Professional, PersonalLife In Business.” Location isSouth Towne Expo Center, 9575S.StateSt.,Sandy.Detailsareatutahsafetycouncil.org.

Feb. 28, 6:30-9 p.m. Business After Hours,a Sandy Area Chamber ofCommerce event. Location isLovelandLivingPlanetAquarium,12033 Lone Peak Parkway,Draper.Cost is$10formembers,$15 for nonmembers. Details areatsandychamber.com.

March 1, 8:30-10 a.m. “Jump Start: Intro to Entrepreneurship,” a Salt LakeChamberevent.Seminaristaughtby Deb Bilbao, business consul-tant at the Women’s BusinessCenter.Location is theSaltLake

Chamber, 175 E. 400 S., Suite600,SaltLakeCity.Free.Detailsareatslchamber.com.

March 1, 11 a.m.-1 p.m. “Go Global: International Business Seminar,” presentedby the Sandy Area Chamber ofCommerce in partnership withthe World Trade Center Utah(WTCUtah). Keynote speaker isDerekMiller, president and chiefexecutive officer of WTCUtah.LocationisSaltLakeCommunityCollege’s Miller Campus, MillerFree Enterprise Center, Room203,9750S.300W.,Sandy.Free.Detailsareatsandychamber.com.

March 1, 11:30 a.m.-1 p.m. Professionals Networking Group, a ChamberWestevent.LocationisGoldenCorral,3399 W. 3500 S., West ValleyCity. No RSVP required. Detailsareatchamberwest.org.

March 2, 11:30 a.m.-1 p.m. Strictly Networking Luncheon, a West JordanChamber of Commerce event.Location isSpudToddos, 7251S.Plaza Center Drive, Suite 120,West Jordan. Free (pay whenordering from themenu).Detailsareatwestjordanchamber.com.

March 2, 11:30 a.m.-1 p.m. Monthly Luncheon,a Murray Area Chamber ofCommerce event. Speaker isTimTingey,Murray’s director ofadministrative and developmentservices.Location isBrioTuscanGrille,6173S.StateSt.,Murray.Cost is $20 with prepaid RSVP,$30 at the door. Event is opento the public.Details are atmur-raychamber.org.

March 3, 8-10 a.m. “First Friday Face to Face,”a Salt Lake County Businessto Business Networking Groupevent. Location is the MillerCampusofSaltLakeCommunityCollege, 9750 S. 300W., Sandy.Free. Details are at westjordan-chamber.com.

March 3, 6-11 p.m. Annual Murray Chamber Gala Fundraiser,aMurrayAreaChamberofCommerceeventfea-turingaMonteCarlo/masqueradeparty.Eventwill includeappetiz-ers,openbar,entertainment,gam-ingtables,dancing,silentauctionandchamberawards.Proceedswillbeusedforthe2017agendaitems,which are aimedat continuing todevelop business and economicandcommunityprojects.LocationisAmerican International SchoolofUtah,4998S.360W.,Murray.Cost is $60, $100 per couple.Detailsareatmurraychamber.org.

March 7 Intermountain Growth Conference and Capital Connection, presented by ACG

(Association for CorporateGrowth) Utah. Keynote speak-er is Robert Stephens, founderof Geek Squad and former chieftechnology officer at Best Buy.LocationistheSaltLakeMarriottCityCenter,220S.StateSt.,SaltLakeCity.Cost is$225forACGmembers, $325 for nonmembers.Detailsareatwww.acg.org/Utah.

March 8, 11:30 a.m.Connect 4 Lunch, a Sandy

Area Chamber of Commerceevent. Location is All StarBowling, 12101 S. State St.,Draper.Costis$20.Detailsareatsandychamber.com.

March 8, 11:30 a.m.-1 p.m.Professionals Networking

Group, a ChamberWestevent.LocationisGolden Corral,3399 W. 3500 S., West ValleyCity. No RSVP required. Detailsareatchamberwest.org.

March 9, noon-1 p.m.Business Educational

Workshop, a Holladay Chamberof Commerce event focusing onexit strategy planning, insuranceandwillsforbusinessowners,andprotectingyourassets.LocationismyBusinessBar,4535S.2300E.,Holladay.Costis$10.Detailsareat holladaychamberofcommerce.org.

March 14, 8 a.m.-2 p.m.“Spring Into Success,”

a ChamberWest Women inBusiness event. Location is theUtahCulturalCelebrationCenter,1355 W. 3100 S., West ValleyCity. Early registration is $65for ChamberWest members and$85 for nonmembers byFeb. 15.Boothsarealsoavailable.Detailsare available at chamberwest.orgorbycalling(801)977-8755.

March 14, 7-9:30 p.m.Pillar of the Valley Gala

2017, a Utah Valley ChambereventhonoringGov.GaryHerbertasthePillaroftheValley.LocationisUtahValleyConventionCenter,200S.Center St., Provo.Cost is$250formembers,$300fornon-members.Sponsorshipsareavail-able. Details are at thechamber.org.

March 15, 11:30 a.m.-1 p.m.Professionals Networking

Group, a ChamberWestevent.LocationisGolden Corral,3399 W. 3500 S., West ValleyCity. No RSVP required. Detailsareatchamberwest.org.

March 15, 3-4:30 p.m.“Jump Start: Intro to

Entrepreneurship,” a Salt LakeChamberevent.Seminaristaughtby Deb Bilbao, business consul-tant at the Women’s BusinessCenter.Location is theSaltLakeChamber, 175 E. 400 S., Suite600,SaltLakeCity.Free.Detailsareatslchamber.com.

March 16, 11:30 a.m.-1 p.m. Lunch & Learn, a MurrayArea Chamber of Commerceevent. Speaker Clay Neves willdiscuss how to effectively givea 30-second commercial, how aone-to-one should be done, andtips on following-up.Location isRed Lobster, 298 E. WinchesterSt.,Murray.Costis$15formem-bers,$20fornonmembers.Detailsareatmurraychamber.org.

March 16, 5-7 p.m. “Death By Chocolate: A Chocolate Tasting Extravaganza,” a CottonwoodHeights Economic Developmenteventfeaturingsamplingofchoc-olate desserts from a variety ofrestaurants, bakeries and cater-ers, including Smiths, MarketStreetGrill,WholeFoods,TraderJoe’s and Sodexo. Location isCottonwood Heights City Hall,2277E.BengalBlvd.,CottonwoodHeights.Costis$10,$15percou-ple.Detailsareatchbusiness.org.


March 22, 2-5 p.m. “Pitch Perfect: Master Your Two-Minute Funding Pitch,” a Salt Lake Chamber Women’sBusiness Center “BusinessEssentials”event.Locationis theSaltLakeChamber,175E.400S.,Suite600,SaltLakeCity.Costis$15.Detailsareatslchamber.com.

March 23, 7:30 a.m.-1:30 p.m. Cybersecurity Conference,presented by the Salt LakeChamber, in partnership withtheU.S.Chamber ofCommerce.Event will feature experts fromgovernment,lawenforcementandthe private sector to help smalland mid-sized business ownersdevelop, evaluate and strengthencybersecurityprograms.Locationis Salt Lake City MarriottUniversity Park, 480 WakaraWay,SaltLakeCity.Costis$75.Sponsorships opportunities areavailable. Details are at slcham-ber.com.

March 23, 5:30-7:30 p.m. “Lean Start-Up Primer,” a Cottonwood Heights EconomicDevelopment boot camp work-shop. Angel investor JohnRichardswilldiscussleanstartupandwhyentrepreneursshouldfol-low this new process to achievesuperiorresultsinventurelaunch-es. Location is CottonwoodHeightsCityHall,2277E.BengalBlvd., Cottonwood Heights.Free. Details are at chbusiness.org. RSVPs can be completed [email protected].


Some things you just

don’t share.Your Enterprise is one of them.

Stop sharing TODAY and call for your special discount offer!

Call

801-533-0556today!

WELLS FARGO from page 8

CALENDARfrom previous page

pricingandunderwriting. •International.Policychang-esrelatedtoBrexitarelikely. • Network security and pri-vacy risk (cyber). The issue re-mainsattheboardlevelandtop-of-mind for leaders in the riskspace. • Environmental. Threats,such as water pollution and en-vironmentalterrorism,propelthedemandforthiscoverage,whichis growing 30 percent year overyear. •Aviation. Drones and oth-er unmanned aircraft systems(UAS) continue to be a big un-known in the aviation insurancemarket. • Public company directors’andofficers’liability.Anincreasein securities class-action filings

March 29, 8-9:30 a.m. Chamber Launch, a SaltLakeChambernetworkingevent.LocationistheSaltLakeChamber,175E.UniversityBlvd.(400S.),Suite 600, Salt Lake City. Free.Detailsareatslchamber.com.


March 29, 2:30-6:30 p.m. Utah Valley Job Fair 2017, a Utah Valley Chamberevent. Location is Utah ValleyConventionCenter,200S.CenterSt.,Provo.Detailsareatthecham-ber.org.

March 30, 5-7 p.m. Business After Hours,aSaltLakeChamberevent.Location isThe Falls Event Center, TrolleySquare,580S.600E.,SaltLakeCity. Cost is $7 for early-birdmembers, $10 for members, $15for nonmembers. Details are atslchamber.com.

April 12, 11:30 a.m.-1 p.m. Connect 4 Luncheon,a Sandy Area Chamber ofCommerce all-networking event.Location is Los Garcia MexicanFood,8745S.700E.,Sandy.Costis$15forchambermembers,$20for nonmembers. Details are atsandychamber.com.

April 13, noon-1 p.m. Business Educational Workshop, a Holladay Chamberof Commerce event focusingon the decision to franchise orlicense your model. Location ismyBusinessBar,4535S.2300E.,Holladay.Costis$10.Detailsareat holladaychamberofcommerce.org.April 20, 5:30-6:30 p.m.

jobsareplentiful,a2percentin-creasefromDecember. • Expectations for the nextsixmonthsdecreased2.5pointsin Januarydue toa slightly lesspositive outlook on future busi-nessconditions. • Forty-one percent ofUtahns think their householdincome will be higher in sixmonths,compared to42percentinDecember. • Forty-one percent ofUtahnsthinkbusinessconditionswill be better in sixmonths, upfrom38percentinDecember. • Forty percent of Utahnsbelieve there will be more jobsintheirareainsixmonths,com-paredto30percentinDecember. Othermetricsregardingeco-nomicconfidence, interest rates,consumerspendingandgasolinepricesinclude: • Forty-five percent of con-sumersbelievetheU.S.economywill improveduring thenext12months,compared to39percentinDecember. • Seventy-five percent ofUtahns think interest rates willgoupinthenext12months. • Thirty percent of Utahnsare likely to purchase a majorhousehold item in the next 60days,comparedto25percent inDecember. • Seventy-three percent ofUtahnsbelievethepriceofgaso-linewillgoupover thenext12months.

CAI from page 1

The six patents at issue in Hon-eywell’slawsuitwerewrittenandoriginallyfiled18-20yearsagobyWelch Allyn, Norand, HHP andIntermec prior to being acquiredbyHoneywell,accordingtoCode.U.S.patentsgenerallyhavea20-yearlife.Twoofthepatentshavealreadyexpired,twomorewillex-pirebymid-year,andtheremain-ingtwoarebasedonaWelchAl-lyn technology not relevant toCode’s products, the companysaid. “Honeywell has and contin-ues to invest millions of dollarsin developing new, innovativeproductsandofferings,”saidLisa

CODE from page 1

istonStateBank,andoneleasingdivision,GrowthFundingEquip-mentFinance. “PUB continues its posi-tive trend by posting strong op-erating results for the year end-ed 2016 compared to the prioryear,” Richard Beard, presidentand chief executive officer, saidinannouncingtheresults. “The current year’s net in-come is the highest in our his-tory. Our current quarter’s netincome, diluted earnings pershare, return on average equi-ty and return on average assetswere all higher when comparedto theprior quarter.Weare alsopleased with our overall loananddepositgrowthandthecon-tinued improvement in our effi-ciencyratio.Wecontinuetolookfor opportunities to utilize ourcapital and enhance shareholdervaluebyaddingnewbranchestoexpand our marketplace and re-viewingpotentialacquisitionop-portunities.”

EARNINGS from page 5

London,presidentofHoneywell’sProductivity Products business.“Wewelcomecompetition,butwehavezerotoleranceforthosewhoinfringe our intellectual property.Protectingpatentsiscriticaltoen-suringalevelplayingfieldforallmarketplayers. “We helped pioneer the bar-codescanningmarketinthe1970sandover theyearsournew inno-vations have helped thousands ofretailers, distributors, healthcareorganizations and industrial usersachieve significant improvementsin efficiency, speed and accuracyin theiroperations,”Londonsaid.“Fair competition means respect-ingthepatentrightsofothers.” Thelawsuit,filedinU.S.Dis-trictCourtfortheDistrictofSouth

Carolina, seeks to prevent Codefrom using Honeywell’s patentedtechnologyinitsbarcodereaders,includingitsCR2600modelandtorecoverdamagescausedbythein-fringement. GarrettRussell,vicepresidentof sales and marketing at Code,explainedthatinhisview,Honey-well’sactionagainstCodemaybedriven by Code’s strong positionin the healthcare market. “Codecontinues to deliver product in-genuity and excellence and Hon-eywell may be resorting to othermeanstotrytogainmarketsharefromCode,”hesaid. Code was founded in 1997and has regional headquartersinChina,SingaporeandtheNeth-erlandsinadditiontoitsSaltLakeCityheadquarters.

continuestobeahottopic. • Fiduciary liability. Themarketcontinuestowatchthelit-igation environment,whichmayinfluencerates. •Private/non-profitmanage-mentliability.Carriersarework-ing to differentiate themselvesthroughcoverage terms,offeringenhancements and extensions,rather than competing solely onpremium. • Employment practices li-ability. The market remains flat,but timely notification of claimsiscritical. • Crime. Coverage for cer-tainexposures(suchas impostorfraud) will impose new burdensonorganizationstoevaluatetheirpoliciesandprocedures. • Medical malpractice. Theindustryisshiftingfromindivid-ualclaimsto“batch”claims. Kidnap, ransom and extor-tion (KRE). KRE will be indis-

pensable for organizations withinternationaltravelexposure. • Representations and war-ranties (R&W). As awarenessaround R&W increases, morecarrierswillcontinuetoenterintothemarket. •Technologyandprofession-al errors and omissions. Ratesare declining for the first timeinmanyyearsdueto thelackofcomplexlitigationin2016. • Commercial surety. Theacquisition and shortage of sea-sonedsuretytalentisanindustry-wideconcern. • Contract surety. Limitedpremiumdollarsarebeingchasedbynumerousmarkets. Wells Fargo Insurance isranked among the top 10 com-mercial insurance companies intheU.S. andwritesorplaces$9billionofriskpremiumsannuallyinproperty,casualty,benefits,in-ternationalandpersonallines.

Nutraceutical Nutraceutical InternationalCorp.,basedinParkCity,report-ednet incomeof$4.2million,or46 cents per share, for the fiscalfirst quarter endedDec. 31. Thatcompareswith$4.2million,or45centspershare,forthesamequar-terayearearlier. Net sales in the most recentquarter totaled $56.6 million, upfrom$56million in theyear-ear-lierquarter. Nutraceutical manufactures,markets, distributes and retailsbranded nutritional supplementsandothernaturalproducts. “Ourfiscal2017firstquarternetsales,grossprofitandadjustedEBITDA(earningsbeforeinterest,taxes, depreciation and amortiza-tion) all remained strong and re-flectthecontinuedsuccessofouroverall business strategy, whichincludes a focus on maintainingand growing our core brandedbusiness while continuing to ac-quire and integrate new brands,”BillGay, chairman and chief ex-ecutiveofficer,saidinannouncingtheresults. “Management ishopeful that

financial improvements may berealized from capital investmentsand operational consolidations atcertain of its manufacturing fa-cilitiesbytheendofthiscalendaryear.”

Utah Medical Utah Medical Products Inc.,based in Salt Lake City, report-ednet incomeof$2.7million,or72.5centspershare,forthefourthquarterendedDec.31.Thatcom-pares with $3.2 million, or 85.2centspershare,forthesamequar-terayearearlier. Salesinthemostrecentquar-ter totaled $8.9 million, downfrom$9.6millionintheyear-ear-lierquarter. For the full year 2016, thecompany reported net income of$12.2million,or$3.22pershare,which compares with $11.8 mil-lion,or$3.14pershare,for2015.Sales in 2016 totaled $39.3 mil-lion,down from$40.2million in2015. Utah Medical Products de-velops,manufacturesandmarketsdisposable and reusable specialtymedicaldevices.

“Photography For Business,” a Cottonwood HeightsEconomicDevelopmentbootcampworkshop.LocalphotographerKariSikorski will teach business own-ers how to take great photos foruse on socialmedia,websites andpromotional materials. Locationis Cottonwood Heights City Hall,2277E.BengalBlvd.,CottonwoodHeights.Free.Detailsareatchbusi-ness.org.RSVPscanbecompletedatpkinder@ch.utah.gov.


South Towne Expo Center • Salt Lake City, Utah • February 28 - March 1

Salt Lake City, Utah Feb. 28 - Mar. 1

Feb. 28 - Mar. 1

2017 Utah Safety Conference & ExpoJoin the Utah Safety Council for this first annual conference February 28 - March 1 at the South Towne Expo Center.

Register Online Now

Member Registration: $200 | Non-Member: $300

What’s Included: Access to 40 breakout sessions, keynote speakers, networking luncheons, raffle prizes, and expo access both days

Jeffrey S. Young“Undercover Boss - Lessons Learned”

Jeff is Senior Vice President and Chief Marketing Of-ficer of Young Electric Sign Company (YESCO). Jeff was recently featured in the Emmy Award winning CBS series Undercover Boss in January of 2016.

The conference will feature 40 breakout sessions focusing on a variety of safety topics.

Here are just a few:

• Safety in a Diverse Workplace• The Role Leaders Play in Changing Safety Culture• Top 10 OSHA Violations - What You Can Fix• Understanding the Work Ethic of the Millenial

To view the complete list of topics & descriptions, visit UTAHSAFETYCOUNCIL.ORG

Amy Rees Anderson“Five Incredibly Important Lessons Vital for Guiding Professional, Personal Life In Business”

Amy Rees Anderson is the Managing Partner and Founder of REES Capital, which provides entrepre-neurs and business executives’ critical guidance and support to help their companies grow.

Keynote Speakers Breakout Sessions

Learn more at UTAHSAFETYCOUNCIL.ORG or call 801.746.SAFE (7233)

In order to achieve almostanygreatpurpose,leadersrequirethehearts,mindsandbesteffortsofothers.Weneedthealignmentof our team members around asharedvisionandvalues.Thisismost likely to happenwhen there is mutualtrust between leadersand their people andwhen connections aredeepandgenuine.Thisconstitutes what I callan“authenticculture.” To build anauthentic culture, wemusttakeourrelationshipswitheach team member beyond thenormal, superficial level thattypically exists when a personis hired.Virtually all of us hirebasedonwhatbest-sellingauthorofThe Road to Character,DavidBrooks, calls the “resume vir-tues.” Resumevirtuesarethemar-ketingqualities that recruitsuse

topromotetheircandidacyforagivenjob.Effectively,theyofferonly half of a candidate’s per-sonal balance sheet; their assetsareondisplay,buttheliabilitiesremainunseen.

Thisisnottoimply,however, that therecruit is lying. It’ssimply outside thenorms of obtaining anopportunity to shareone’s shortcomings,weaknessesorpastfail-ures. Everyone wantsto present themselves

in the best light and sharingone’swartsisclearlynotasoundrecruitmentstrategy. Resume virtues engen-der surface-level relationshipsthat too often define virtuallyall of what leaders know abouttheir people. This generally isinsufficient to create the strong,unassailable trustandalignmentrequired to create an authentic

culture and achieve organiza-tionalsuccess. Wemust“peeltheonion”—getdeeperintoboththestrengthsand weaknesses of each keyplayeronourteams.This,how-ever, is easier said than done.Most people are naturally pro-tective and disinclined to sharetheirsignificantlifeexperiences,especially those that have beenlessthansuccessful.BillGeorge,author of Discover Your True North, calls these experiencesour “crucibles,” andasserts thatthese are the experiences that“testus toour limits”andoftendefinewhowereallyare. To get others to share theircrucibles, leaders must beginthe onion-peeling process withthemselves. We, too, prefer toshare our strengths rather thanourweaknessesandtokeeppastfailures hidden away. But wemust be courageous enough todrop our own facade of resumevirtues.

If we willingly admit tobeinglessthanall-powerful,all-knowledgeable and invincible,we begin to set the foundationforanauthenticculture.Wealsomake it safer for our people toopen up regarding the hiddenside of their personal balancesheets. How should this be done?Onoccasion,thismayworkbestin a group setting. However,most often the opportunity forthis type of authenticity is in aone-to-onesetting. Breaking the ice in thistype of conversation may feelawkward, but I have found thatit’s best to clearly share that toachieve the high purposes ofyour organization, you feel theneed for greater depth in yourkey relationships. We certain-ly want to appreciate and playto our individual strengths, butwe also want to shore up oneanother in our weaknesses. A

discussion of the inadequaciesofresumevirtuesshouldfollow,allowing you to discuss yourownstrengths,weaknesses,per-sonality, defining experiencesand crucibles, and to invite theotherpartyto“tellyoumore.” Recognize this should be aprocess rather than an event.Atrulyauthenticculturetakestimeandmustbeafunctionofongo-ingcommunicationandrealcar-ing for one another and for theorganization’svisionandvalues. Leaders must thoroughlyinvest themselves in creatingsuchanauthenticculture.Whentheydo this consistentlyaspartof their leadershipprocess, theyreaptheharvestofhigh,unifiedteamperformanceandorganiza-tionalsuccess.

Richard Tyson is the founder, principal owner and president of CEObuilder, which provides forums for consulting and coaching to executives in small businesses.

How 'peeling the onion' reveals true character of our team members

RICH TYSON

February 6, 2017

About us:Licensed and insured. • Over 18 years experience in the Title • Industry. Accepted by most underwriters.• We provide personal property • geneology.We back-up or willingly assist you.• We are dedicated to provide • personalized and focused service for you and your company.

Joel V. BaumgartPresident, CEO

[email protected]

We provide property

searches!

I buy apartments and hotels!

25 Units plus

Contact Brandon Wixom801-864-2626

16 · February 6, 2017 · The Enterprise - Utah's Business Journal

utah consumer wanes slightly - home - the enterprise · up to $10,000 in funding depend-ing on...

Documents