Business briefs for Saturday, June 17
GM automotive dealers throughout Utah raised more than $30,000 from car sales during the Memorial Day weekend. The contribution is part of a GM national initiative, where GM donated $100 to the Veterans of Foreign Wars National Home from the sale of each Buick, Pontiac and GMC car sold during the holiday weekend.
The total donation of $30,300 was part of a $3.5 million donation made by GM to the National Home, a non-profit organization created to assist the families of past and present American soldiers either under current deployment or deceased as a result of their military service.
Utah in top five for employment growth
Utah’s number of non-farm wage and salaried jobs registered a year-over increase of 4.5 percent for May 2006. Approximately 51,700 new jobs have developed in the Utah economy over the past year, raising total wage and salary employment in Utah to 1,191,200. This rate of employment growth keeps Utah within the top five states nationwide for employment growth. The last time Utah experienced an employment growth rate in the mid 4-percent range was in early 1997.
Utah’s other primary indicator of current labor market conditions, the seasonally-adjusted unemployment rate, registered 3.5 percent in May, down 0.9 percentage points from the unemployment rate of 4.4 percent registered a year ago in May 2005. Approximately 45,800 Utahns were unemployed in May 2006 as compared to 55,100 in May 2005. April’s unemployment rate is unrevised at 3.5 percent.
American Skiing Company reports third quarter results
American Skiing Company announced its financial results for the third quarter of the fiscal year in 2006. The company reported particularly strong visitation levels for its western resorts in the winter operating season, bolstered by generally excellent skiing and riding conditions. These strong results, coupled with the successful sale of nearly all remaining fractional inventory in the company’s real estate segment, an increase in net income of $5.6 million or 23 percent over the third quarter of the fiscal year in 2005. The company’s eastern resorts were challenged by adverse weather conditions for much of the latter half of the winter operating season, resulting in decreased company-wide skier visits compared to the third quarter of the fiscal year in 2005.
Inwest Title announces new escrow officer
Inwest Title of Park City recently announced the promotion of their newest escrow officer Mercedes Barica. A native of Washington State, she later moved to Evergreen, Colo., and eventually relocated to Park City with her family in 1992. After completing high school, Barica attended the University of Arizona where she achieved a degree in Journalism. In 2003 she returned to Park City and joined Inwest Title Services to assist senior escrow officer/branch manager Susan Tolliver.
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