PAGE B5 ១ Check us out online at fresnobee.com/business Editor: Doug Beeman, (559) 441-6171, [email protected] Virgin America files for IPO Virgin America’s next destination is Wall Street. The -based airline filed Monday for an initial public offering of shares. Virgin America Inc., which operates out of Los Angeles and San Francisco, flies to BU S I N E S S 22 airports in the United States and Mexico and has a fleet of 53 planes. The Fresno Bee Tuesday, July 29, 2014 It is known for offering a variety of perks on its jets, including live TV, movies, leather seats and purple mood lighting.

MARKET SNAPSHOT Indexes HIGH LOW CLOSE CHG. %CHG. YTD DOW 17001.38 16877.72 16982.59 +22.02 +0.13% +2.45% DOW Trans. 8432.87 8312.90 8332.97 -95.18 -1.13% +12.60% Southern Valley leads state DOW Util. 564.18 555.37 563.48 +6.97 +1.25% +14.86% NYSE Comp. 10997.99 10933.21 10987.24 +1.43 +0.01% +5.64% Most of the study is based on non- NASDAQ 4455.39 4413.92 4444.91 -4.65 -0.10% +6.42% Growth since 1990 best in Fresno, Tulare,Kern Cos. S&P 500 1981.52 1967.31 1978.91 +0.57 +0.03% +7.06% farm jobs — a decision that, Sonen- S&P 400 1406.38 1395.20 1403.36 -2.36 -0.17% +4.53% By Helen Tracey-Noren shein said, gives a clearer view of the Wilshire 5000 20925.65 20780.00 20895.05 -12.12 -0.06% +6.03% The Fresno Bee local economy. Russell 2000 1145.18 1132.16 1139.50 -5.22 -0.46% -2.07% If you go ᔡ What: Panel discussion on the new “The study uncovers how diverse Stocks of Local Interest A new report finds that the south- the job industry is there,” Sonen- ern , defined as report, “South San Joaquin Valley: A NAME LAST CH. NAME LAST CH. NAME LAST CH. Growing California Success Story” shein said. “It’s the diversification AT&T Inc 35.65 +.11 GraniteC 33.93 -.81 Primerica 47.16 +.34 Fresno, Tulare and Kern counties, ᔡ When: 5:30 p.m. Wednesday that is almost always a sign of future Aetna 84.82+1.43 HSBC 53.66 +.84 QstDiag 62.11 -.03 has shown the most economic im- ᔡ Where: Fresno Convention Center, growth.” Ametek 51.44 -.11 HealthNet 43.85 +.63 Safeway 34.79 -.08 BP PLC 50.64 -.28 Kroger 50.13 -.58 provement in since 1990. 848 M St. The report says the Valley has “ex- SierraBc 15.76 +.21 ᔡ CalifWtr 22.93 +.22 Lindsay 82.70 -.71 SkyWest 10.67 -.98 “South San Joaquin Valley; A More online: See the story at ceeded its pre-recession employment CntlVyCm 12.50 ... LithiaMot 92.19 -.49 SCEd pfB 20.55 +.06 Growing California Success Story” www.fresnobee.com/business Chevron 133.24 -.33 McClatchy 5.01 -.05 peak,” adding 8,000 more jobs than Cigna 96.87 +1.11 Mondelez 38.22 +.04 Tyson 40.56+1.02 will be presented Wednesday for a link to read the full report the area lost since July 2010. A total UnionPac s100.64 -1.02 Comerica 49.76 -.64 Monsanto 114.97 -.82 evening during a free panel discus- of 61,300 jobs have been added since ConstellA 86.07 -.49 PG&E Cp 47.37 +.27 USecBcCA 5.87 +.07 sion at the Fresno Convention Cen- that date among the three counties. DowChm 53.70 -.01 PPG 208.67 -.20 ValeroE 49.04 -.16 Valley is usually depressing,” said ter. Gap 40.32 +.40 Patterson 39.66 +.25 WAmBcp 48.59 -.56 Raphael Sonenshein, executive direc- However,during the time research- Most Active Stocks The Pat Brown Institute at Califor- tor of the Pat Brown Institute at Cal ers looked at — from 1990 to 2013 — nia State University, Los Angeles nonfarm employment has only in- NAME LAST CH. NAME LAST CH. NAME LAST CH. State LA. “Then you see this report was commissioned by The California creased by 0.7%. AK Steel 8.77 -.22 EMC Cp 29.67 +.47 NII Hldg h .71 -.01 and it shows that the San Joaquin Val- AbbVie 53.74 +.56 ElPLoco n 34.48+10.45 NQ Mobile 6.59 -.08 Endowment to create the report. Bea- ley is a powerhouse for the rest of the Because of more affordable hous- AcelRx 6.39 -4.44 ElectArts 35.09 -.95 NewmtM 25.64 +.49 con Economics paired up with Cal ing compared to the rest of the state, ActivsBliz 23.37 +.39 EnCana g 22.08 +.05 NokiaCp 8.19 -.05 state.” AMD 3.73 -.03 Exelixis 4.40 +.21 Nvidia 17.72 -.07 State LA to investigate economic Chris Thornberg, who worked on an increase of business travel and AlcatelLuc 3.74 -.03 Exelon 31.95 +.50 Oi SA C .67 -.01 trends. the report at Beacon Economics, will tourism, and a rising population, the Alcoa 17.01 +.45 ExpScripts 65.90 -.45 Oi SA .65 -.02 Amazon 320.41 -3.60 ExxonMbl 104.37 +1.19 OnSmcnd 8.80 +.14 Employment rates, growth rates of present the findings on Wednesday. study predicts the Valley will contin- Ambev n 7.41 -.02 Facebook 74.92 -.27 Oracle 40.55 +.22 different industries, population The panel will include Leilani Bar- ue its growth by an additional 5% to AMovilL 24.02 +.05 FamilyDlr 75.74+15.08 Pandora 25.09 -.66 7% over the next few years. AmAirl n 40.29 -1.39 FifthThird 20.88 -.30 Penney 9.22 +.03 growth rate, and a forecast on how nett, the Central Valley regional man- AEagleOut 10.28 -.11 FordM 17.64 +.02 PetrbrsA 18.13 -.15 the southern San Joaquin Valley will ager at the Federal Reserve Bank of ៑ The reporter can be reached at AmIntlGrp 53.95 -.21 FrptMcM 38.06 +.07 Petrobras 17.03 -.16 ARltCapPr 12.98 +.14 FrontierCm 5.94 +.07 Pfizer 30.10 -.09 grow in the future are included in the San Francisco, and Blake Konczal, ex- (559) 441-6279, Annaly 11.48 +.15 GNC 32.56 -.79 PlugPowr h 5.52 +.10 study. ecutive director of the Fresno Region- [email protected] or Apple Inc s 99.02 +1.35 GT AdvTc 14.23 -.68 PwShs QQQ96.77 +.03 ApldMatl 21.36 +.13 GenElec 25.59 -.20 PUVixST rs 26.35 -.31 “The analysis of the San Joaquin al Workforce Investment Board. @HtraceyNoren on Twitter. ArenaPhm 4.61 -.16 GenMotors 34.90 -.17 ProctGam 79.26 -.30 AriadP 5.61 -.28 GileadSci 91.46 +1.62 ProUShSP 24.87 -.01 ArmstrWld 49.60 -5.77 GlaxoSKln 48.20 -.40 PulteGrp 18.55 -.18 Atmel 8.34 -.04 GluMobile 7.17 ... Qualcom75.83 -.27 Avon 13.02 -.16 GoPro n 43.25 +1.27 RF MicD 10.92 +.03 BcoSantSA 10.16 -.06 Groupon 6.39 +.18 RegionsFn 10.24 -.12 Zillow to buy Trulia, BcoSBrasil 6.87 -.04 HalconRes 6.32 -.28 RiteAid 6.69 -.36 Pre-tax air fares BkofAm 15.50 -.09 HewlettP 35.60 +.17 S&P500ETF197.80 +.08 BkNYMel 39.48 +.05 HorizPhm 9.15 -4.75 SpdrHome 30.27 -.48 B iPVix rs 28.65 -.18 HuntBncsh 9.85 -.13 SandRdge 6.25 -.06 creating behemoth BarrickG 18.69 +.01 iShBrazil 51.12 +.06 SiriusXM 3.38 -.06 BlackBerry 9.95 -.32 iShJapan 12.20 +.07 SouFun s 12.45 +.34 OK’d for ads Blackstone 34.34 -.13 iSTaiwn 16.21 +.05 SwstAirl 29.21 -.03 By Tim Logan their revenue from selling BostonSci 12.97 -.14 iShChinaLC 41.05 +.86 Sprint 7.64 -.08 Associated Press “Their main goal is to be Los Angeles Times ads to real estate agents, BrMySq 49.80 +.41 iShEMkts 45.09 +.31 SP Matls 50.24 +.13 and Zillow Chief Execu- Broadcom 37.72 +.37 iS Eafe 67.96 +.01 SP HlthC 61.89 +.06 able to offer the public a The nation’s two biggest CBS B 57.71 -.02 iShiBxHYB 93.76 -.28 SP CnSt 44.56 -.23 WASHINGTON —Ina tive Spencer Rascoff said low-ball price,” said Char- real estate listing websites CSX 30.73 -.27 iShR2K 113.03 -.57 SP Engy 99.60 -.24 victory for airlines and he sees a big chance to CabotOG s 32.88 +.26 lie Leocha, chairman of iShREst 73.17 +.44 SPDR Fncl 22.90 +.01 their workers’ unions, the announced Monday that Carnival 36.50 -.18 iShInds 102.24 -.58 SP Inds 53.52 -.27 Travelers United, which grow that business. Cemex 12.74 -.21 Intel 34.23 -.02 SP Tech 39.79 +.07 House rejected consum- they’re joining forces. represents people who The companies’ com- ChesEng 26.84 -.17 Interpublic 20.23 +.24 SP Util 43.03 +.59 ers’ complaints and easily Zillow Inc. will buy Cisco 25.92 -.05 ItauUnibH 15.92 -.10 Staples 10.94 -.05 travel. bined revenue amounts to Citigroup 49.70 -.33 JPMorgCh 59.19 +.18 SunEdison 21.47 +.52 passed legislation Monday Trulia for $3.5 billion in just 4% of the $12 billion But the airlines — CliffsNRs 16.59 +.50 JetBlue 11.17 -.24 TaiwSemi 20.37 +.02 letting airline advertising stock, the Seattle-based spent on real estate adver- CocaCola 40.68 -.32 JnprNtwk 23.72 +.47 Teradyn 18.68 +.39 backed by unions repre- Comcast 54.73 +.34 Keycorp 13.68 -.18 TeslaMot 224.82 +1.25 emphasize the base price company said. tising annually — much of senting pilots, mechanics Corning 22.05 +.03 KiteRlty 6.34 +.05 TexInst 47.35 +.53 of tickets, before taxes and The deal is expected to which remains off line. CSVInvNG 4.90 +.08 MGM Rsts 26.82 +.43 Trulia 65.04 +8.69 and f light attendants — CSVelIVST 44.08 +.24 fees are added. close in 2015. “It’s still early days in MannKd 8.64 -.14 21stCFoxA 32.46 -.35 say including taxes and CSVxSht rs 2.93 -.01 MVJrGold 43.52 +.63 21stCFoxB 32.25 -.32 The bipartisan legisla- While both popular web- the world of real estate ad- DCT Indl 8.11 +.13 MktVGold 26.99 +.17 Twitter n 37.93 -.23 fees in their advertised tion would roll back feder- sites will retain their vertising on mobile and DR Horton 21.48 -.13 MktVRus 24.35 -.28 UtdContl 46.55 -.23 prices hurts business and DeltaAir 38.19 +.13 MarvellT 13.24 -.15 US Bancrp 42.57 -.18 al regulations that since names and separate sites, Web,” he said. “This is a DrxSCBear 15.82 +.21 Masco 20.27 -.63 hides from consumers the UtdTech 108.99 +.11 2012 have required ads to tremendous opportunity DrxSCBull 70.46 -.97 Medtrnic 62.76 -.14 Vale SA 14.83 +.27 extra costs that govern- their merger will create a DollarGen 55.56 -.05 Merck 57.97 -.18 ValeroE 49.04 -.16 most prominently display to combine our resources ment imposes on air trav- giant in the burgeoning DollarTree 54.87 +.65 MicronT 31.98 -1.44 VangEmg 45.14 +.24 the full ticket price. Under and achieve even more im- DryShips 3.00 -.05 Microsoft 43.97 -.53 VerizonCm 51.58 +.30 el. business of online real es- eBay 52.93 +.18 MorgStan 33.07 -.17 WPCS Intl 1.20 +.24 the bill, the base price tate listings. pressive innovation that WalMart 75.71 -.26 could be the figure most Showing the full price Zillow and San Fran- will benefit consumers Foreign Exchange WeathfIntl 23.85 -.21 prominently shown in ads “can dampen demand for Currency Daily WellsFargo 51.60 ... cisco-based Trulia com- and the real estate indus- WholeFood 36.53 -.35 and ticket-selling websites travel and ultimately cost in US $ Chg. %Chg. bined had 137 million try.” Windstrm 10.53 +.07 as long as taxes and fees even more jobs in an indus- British Pound .5889 -.0001 -.02 Xerox 13.10 -.05 unique visitors in June, Analysts also expect the Canadian Dollar 1.0804 -.0011 -.10 Yahoo 35.90 -.22 are displayed separately, try that has lost nearly one- newly combined company the companies said, far Euro .7444 -.0000 -.00 Zillow 160.32 +1.46 such as in footnotes or pop- third of its workforce since to save money on market- Japanese Yen 101.87 +.07 +.07 ZionsBcp 29.42 -.64 more than their next larg- up ads. 2001, typically resulting in ing costs — Zillow and Mexican Peso 12.9956 +.0380 +.29 Zynga 3.02 +.02 est competitor, National The measure was ap- reduced service to small Trulia compete fiercely More online: For a complete stocks and mutuals report, including live Association of Realtors-af- proved by voice vote, with and rural communities,” and both spend heavily on quotes, go to fresnobee.com/stocks. filiated Move Inc. Quotes by phone: Call (888) 247-2425, a service of the Tellme voice individual lawmakers’ according to an April let- advertising — and to gain services company. Depending on your phone provider, charges may apply. votes not recorded. That ter to lawmakers from Air- The two sites, with their clout in their negotiations Commodities FUELS CLOSE PVS. %CH. %YTD process often is used for lines for America, the in- troves of searchable, map- with MLS services and pable home listings and The price of Crude Oil (bbl) 101.67 102.09 -0.41 +3.3 non-controversial bills, dustry’s chief trade group, large real estate brokerage crude oil fell for Ethanol (gal) 2.19 2.13 +0.19 +14.9 but it also can allow legisla- and other airline and labor other data, have trans- firms over listings. the fifth time in Heating Oil (gal) 2.89 2.92 -0.95 -6.2 tors avoid taking a public organizations. formed the way Ameri- News of talks between the last seven Natural Gas (mm btu) 3.75 3.78 -0.90 -11.4 position on a touchy issue. Monday’s vote under- cans shop for homes, giv- Unleaded Gas (gal) 2.85 2.87 -0.56 +2.3 the rival companies first days and set- Groups representing air- scored the clout wielded ing consumers the sort of broke Thursday. tled below $102 METALS CLOSE PVS. %CH. %YTD line passengers and com- by the alliance on this information that was long Boards of directors for per barrel. It Gold (oz) 1303.30 1303.10 +0.02 +8.4 issue between the airlines the exclusive domain of continues a panies that rely on corpo- each company have ap- Silver (oz) 20.53 20.59 -0.30 +6.1 downward trend rate travel derided the and their employees’ agents and multiple list- proved the deal, which will Platinum (oz) 1489.40 1477.60 +0.80 +8.6 bill’s name, the Transpar- unions, which often have a ing services. that began six Copper (lb) 3.23 3.23 +0.12 -6.1 need approval from feder- weeks ago, Palladium (oz) 879.75 878.80 +0.11 +22.6 ent Airfares Act of 2014, as fractious relationship. They generate most of al antitrust regulators. when oil was Orwellian. They said the Backers said that cur- above $107. AGRICULTURE CLOSE PVS. %CH. %YTD measure’s enactment rently, $63 — or 21% of a Cattle (lb) 1.59 1.59 -0.03 +18.3 would return the country typical $300 round-trip do- Coffee (lb) 1.81 1.79 +1.09 +63.6 to an earlier era of mislead- mestic ticket — comes Corn (bu) 3.68 3.63 +1.31 -12.9 ing and confusing advertis- from government taxes Cotton (lb) 0.65 0.65 +0.31 -22.8 Lumber (1,000 bd ft) 323.00 325.50 -0.77 -10.3 ing. and fees. This rates Orange Juice (lb) 1.48 1.48 -0.20 +8.4 Soybeans (bu) 12.37 12.12 +2.00 -5.8 Wheat (bu) 5.35 5.38 -0.60 -11.7 Chromatin Inc.; the Center IN BRIEF for Irrigation Technology a closer 7-Month Bee staff and news services at California State Univer- Promotional CD Hofmann leads Fresno sity, Fresno; and the Uni- look. Dollar Tree agrees versity of California’s % flood control district Kearney Agricultural Re- search and Extension Cen- .85 Alan Hofmann started APY* to buy Family Dollar work this month as the ter in Parlier. Chicago- $10,000 minimum Fresno Metropolitan based Chromatin develops 11-Month By Andrew Khouri share, a nearly 23% prem- Flood Control District’s sorghum for agriculture Promotional CD Los Angeles Times ium over Family Dollar’s new general manager. and other markets. closing price Friday. Discount retailer Dollar Hofmann, who has Shares of Family Dollar Also … % Tree Inc. has agreed to pur- worked with the district were up $13.78, or 23%, at chase larger rival Family for 35 years, replaces Bob ᔡ Tyson Foods plans to 1.05 $74.44 about midway APY* Dollar Stores Inc. for about Van Wyk, who recently re- sell its poultry businesses through Monday’s stock $10,000 minimum $8.5 billion. tired after a long career in Mexico and Brazil for trading session. Shares of with the district. $575 million in cash to help The deal makes Dollar Dollar Tree rose $1.89, or pay debt from its recently Tree the biggest player in 3.5%, to $56.11. Jennette Williams, the announced acquisition of the dollar store segment, Dollar Tree, based in district’s board chair, said Hillshire Brands. The with its more than 13,000 Chesapeake, Va., said it the agency selected Hof- Springdale, Ark., meat pro- combined locations eclips- would keep the Family Dol- mann after an extensive re- cessor made the announce- ing current leader Dollar lar brand. cruitment process. ment Monday, the same General Corp., which has The transaction has been day it reported fiscal third- about 11,300. approved by the boards of Pacific Ethanol gets quarter earnings climbed The sale comes in the both companies and is ex- grant for feedstock more than 4% but missed wake of troubles for Family pected to close early next Fresno Pacific Ethanol Inc., the analyst expectations. Dollar. The chain, based in year. Sacramento-based market- ᔡ 776 E Shaw Avenue, #101 Matthews, N.C., announced Recently sales at dollar Lloyds Banking er and producer of low-car- in April that it was closing stores have been suffering Group is paying $369 mil- 559-222-8443 bon renewable fuels, has 370 underperforming because the lower-income lion to U.S. and British au- stores after its profit plum- customers who go to them been awarded a $3 million thorities to settle allega- meted more than 30% in the are facing persistent job in- matching grant from the tions it manipulated a key second quarter. stability and slow wage California Energy Com- global interest rate. pacificwesternbank.com Last month, activist in- mission to develop a sor- ᔡ Darden Restaurants growth in the aftermath of *Annual Percentage Yield (APY) as of date of publication and is subject to change. Account is deemed open vestor Carl C. Icahn dis- the recession. ghum feedstock program. says CEO and Chairman closed a 9% stake in Family Wal-Mart Stores Inc. and PEI, which has four Clarence Otis is stepping Dollar and urged the firm Kroger Co. also have been plants including one in down as the company time and at selected branches only. to put itself up for sale. opening smaller store for- Madera County, said the fights to fix its f lagship Member The cash and stock deal mats to directly compete program will be a collabo- Olive Garden chain follow- FDIC is valued at $74.50 per with dollar stores. ration that also includes ing the sale of Red Lobster.

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