www.slenterprise.com November 19, 2018 Volume 48, Number 18 $1.50 OF NOTE If became 'Crossroads of calls the World,' so can other states off IPO, sells America,” Gov. Gary Herbert said at the Brice Wallace Utah Global Forum in Salt Lake City. The Enterprise “The good news is, it’s not a zero-sum for $8 billion game,” he said. “If other states will do Acknowledging Utah’s strength in what we’re doing, they are going to have The monster Utah IPO that was the international trade, several economic lead- the same kind of success. And all will talk of the tech industry and all over the lo- ers recently hailed the state’s advance- benefit. It is mutually beneficial. If other cal press earlier this month is off. ment from “Crossroads of the West” to countries do what we’re doing, they will When Provo-based Qualtrics’ CEO “Crossroads of the World” and suggested Ryan Smith announced his intentions to Here's to your health have the same kind of success. that the Utah can share its success with “Now, they may be farther down on take his company public, the initial stock If you are a UnitedHealthcare other states and other nations. offering was universally expected to customer and you sign up for “We’re more than happy to share what eclipse all others for a Utah-based compa- see FORUM page 4 ny. But that won’t happen because Smith the company's health program we know, how we’ve done it, even here in has accepted an $8 billion offer from SAP, called "Motion," the healthcare a German multinational software corpora- giant will give you a $300 Apple tion, to buy the company. The new deal is Watch for free to keep track of being hailed as one of the biggest ever for your progress. The program a venture-backed enterprise software com- rewards those who walk more pany. than 10,000 steps per day, and Qualtrics is a pioneer in the experience hundreds of thousands of the management (XM) software category and fi rm's insured have joined. helps companies with data and feedback in the areas of customer, employee, product Industry News Briefs and brand management. Industry insiders have dubbed Qualtics a “unicorn” compa- pages 8-9 ny because of its unique products and oper- Business Calendar ation. The company employs about 1,900. page 11 “Our mission is to help organizations deliver the experiences that turn their cus- Real Estate tomers into fanatics, employees into am- pages 18-19 bassadors, products into obsessions and brands into religions,” Smith said in a statement. “Supported by a global team of over 95,000, SAP will help us scale faster and achieve our mission on a broader stage. A worker installs a pump motor in a new hot tub at the Bluffdale factory of Bullfrog Spas. The This will put the (Qualtrics-developed) company will add 150 people to its workforce because of a tax credit incentive granted recently. XM Platform everywhere overnight.” SAP is a multinational software cor- poration that makes enterprise software to manage business operations and customer Three companies will create 1,135 relations. SAP is headquartered in Wall- dorf, Baden-Württemberg, Germany, with regional offi ces in 180 countries. The com- jobs through GOED tax incentives pany has over 335,000 customers and al- most 100,000 employees. Brice Wallace Development (GOED) board at its Novem- ber meeting. Qualtrics is expected to operate as an The Enterprise That meeting also featured an incentive entity within SAP’s Cloud Business Group for Merit Medical Systems Inc. tied to the following the deal, retaining its brand and Three companies have announced ex- creation of up to 1,010 high-paying jobs over joint headquarters in Provo and Seattle. pansions that are expected to create a to- 15 years, as reported in last week’s edition of Smith will continue to lead the company, tal of 1,135 jobs in Utah over the next few The Enterprise. according to a joint release. years. LendingClub will create up to 860 jobs Under the terms of the agreement, LendingClub Corp., Bullfrog Spas and in operational roles over the next 10 years SAP will acquire all outstanding shares Essence Global made the announcements after being approved for tax credit incen- see QUALTRICS page 4 tives by the Governor’s Offi ce of Economic see INCENTIVES page 15 2 • Nov. 19-25, 2018 • The Enterprise - Utah's Business Journal Bullock to head Squire & Co. Squire & Co. PC, an account- through industry specialization ing fi rm with offi ces in Orem and and the addition of the Salt Lake Salt Lake City, has named Jonyce offi ce to our Squire team have re- Bullock as CEO. Bullock was the sulted in signifi cant growth and managing part- expansion during 2018,” said ner of the fi rm Bullock. “To help us be best pre- and will con- pared to capitalize on the opportu- tinue as offi ce nities for each of our offi ces and managing part- meet the expanding needs of our ner of the Orem clients, we have realigned our or- offi ce. ganizational structure and made In addition, changes in key leadership posi- Jonyce Bullock Squire & Co. tions. We are now properly po- announced that sitioned to continue our growth Shane Edwards has been appoint- through 2019 and beyond.” ed as offi ce managing partner for Squire is a locally-owned, the Salt Lake City offi ce. Both full-service accounting and advi- Bullock and Edwards will contin- sory fi rm offering audit, tax, trans- ue as members of the fi rm’s execu- action support, ERP implemen- tive committee and board of direc- tation, wealth management and City Creek Reserve, the real estate arm of the The Church of Jesus Christ of Latter-day Saints, has tors. outsourced CFO/Controller ser- submitted preliminary planning documents for a major glass offi ce building to be located on the northeast “A renewed focus on pro- vices. Squire has been in business corner of State Street and 100 South in downtown Salt Lake City. The building is designed to be 28 stories viding outstanding client service since 1973 and employs about 130. — that’s 395 feet — tall, according to plans submitted to the Salt Lake City Planning Commission. "We’re pleased to be bringing another Class A offi ce tower to downtown Salt Lake," said City Creek Reserve spokesman Dale Bills in a statement issued recently. "We’ll have more to say in the coming weeks as we progress through the city’s approval process." RMP proposes customer refund The skyscraper — called Tower 8/95 State in planning documents — would be the city’s third-tallest building. The entrance would face the intersection of State Street and 100 South and parking would be and effi ciency charge decrease provided on two levels within the tower. Rocky Mountain Power has Power published company plans fi led a proposal to issue a one- showing the benefi cial long-term time refund of approximately effects of renewable energy and $14.5 million and to decrease the the evolving electrical grid. The Clarus acquires of skincare fi rm SKINourishment customer surcharge for energy ef- declining costs of renewable ener- Clarus Corp., a Salt Lake City as a new category of focus with enhancing products using natural, fi ciency from approximately 3.66 gy allow this resource to compete holding company has acquired sk- high-growth potential, and we be- organic, cannabis-infused or alter- percent to 3.54 percent of cus- with traditional energy effi ciency incare company SKINourishment lieve that our acquisition of SKI- native ingredients.” tomer’s bills. If approved by the management as a least-cost ener- Inc. of Wimberley, Texas. Clarus Nourishment provides an impor- In 2012, Polly Glasse founded Utah Public Service Commission, gy resource in Utah. focuses on acquisition of sport-en- tant strategic entrance,” said John SKINourishment to house all four the refund for a typical residential Rocky Mountain has insti- hancing products and high-growth Walbrecht, president of Clarus. brands under the same umbrella. customer will be about $7.30 on tuted energy effi ciency programs potential category companies. “Similar to our existing brands, She will remain the leader of SKI- that coordinate when electricity the February 2019 bills. SKINourishment markets or- SKINourishment has built a pur- Nourishment’s product innovation is used, as well as reduce overall Rocky Mountain said the re- ganic, food-grade, plant-based skin pose-driven, ‘super fan brand’ ded- under Clarus’ ownership. Com- electrical use to help customers duction is possible because the products with distribution across icated to using the highest-quality menting on the opportunity, she save money. These programs are utility has identifi ed more-effi - 37 countries. Its products are sold organic ingredients. Its innovative said: “We are proud to offer plant- funded by an effi ciency charge, under four brands: climbOn, Cross- and differentiated products have based products for the largest or- cient ways to deliver these pro- which appears as a line item on FIXE, POLYN and POLYN Baby. fostered product adoption at both gan in your body — your skin. We grams to customers. Widespread the customer bill. Programs for Clarus’ initial focus will be on the the core user and athlete level, in- couldn’t be more thrilled to join the adoption of energy effi ciency residential customers continue to launch of seven climbOn prod- cluding strong, loyal followers like Clarus family as they are a partner measures has allowed the compa- include cash incentives for ener- ucts through its global distribution climbing athlete Tommy Caldwell. with the same values and ethics as ny to spend less while still achiev- gy-effi cient appliances, improved platform, the company said in an- These important qualities provide our great company.” ing effi ciency targets, the compa- insulation, energy-effi cient win- nouncing the acquisition. Clarus with a platform to grow Clarus was founded in 1991 ny said. dows and low-income weather- “Clarus has identifi ed skin- SKINourishment’s existing port- and employs about 400 across its In 2017, Rocky Mountain ization. care, along with sport supplements, folio, while targeting other sport- brands.

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NetDocuments buys Closing Room Japanese public television comes to Utah NetDocuments, a Lehi cloud- processes, eliminates the need for Japan’s English-language public television channel lineup offers viewers a variety of engag- based content services platform for physical closing rooms and reduc- station is now available to cable and over-the-air ing programming options,” said Hunter. “For peo- law firms, corporate legal teams es the time, cost and effort of pro- viewers in Utah. NHK World-Japan has become ple across Utah with an interest in international and compliance departments, has ducing closing binders for clients available in the Salt Lake City market, thanks news, as well as in Japanese culture, NHK World- acquired Closing Room, a deal and third parties, NetDocuments to a partnership between NHK World-Japan and Japan’s wide range of programs and series pro- management application devel- said in a release. KUEN Channel 9. KUEN is an educational inde- vides a fresh new look and a decidedly global per- oped by Chicago-based Chapman “We are really pleased to offer pendent television station licensed to Ogden. The spective.” and Culter Law that streamlines this product to NetDocuments,” station is owned by the Utah State Board of Re- NHK World-Japan is a 24/7 network featur- transactional closing processes. said Tim Mohan, Chapman’s chief gents and is operated by the Utah Education Net- ing original television programming from NHK “Closing Room, designed executive partner. “We launched work on behalf of higher education as well as pub- (Japan Broadcasting Corp.), the country’s only for lawyers, by lawyers, has been our practice innovations group lic education. public broadcaster. It delivers a blend of program- stamped ‘safe, valued and prov- three years ago and today, we have The announcement was made by Masaru Shi- ming featuring hourly live international news en’ and is a strategic addition to a world-class innovations team ca- romoto, president and CEO of Japan International from Tokyo and news bureaus around the globe, the NetDocuments platform,” said pable of designing and building Broadcasting and Laura Hunter, chief operating along with programs on Japanese society, politics, Josh Baxter, NetDocuments CEO. market-ready software. NetDocu- officer and station manager of KUEN. scientific advancement, culture, history, food and “The acquisition serves to extend ments provides a wonderful plat- “We are especially pleased with the partner- lifestyle. our company’s rich partner and form to deploy the application to ship with KUEN and the opportunity to be a part NHK World-Japan can be seen on Comcast product eco-system that is solving other firms, and we look forward of the Salt Lake City community,” said Shiromoto. channels 389 and 1152 and over-the-air digital for the unique challenges of the le- to future opportunities to collabo- “NHK World-Japan’s mission is to present the rich channel 9.4. gal industry.” rate on products that can benefit culture of Japan and Asia and to provide global Salt Lake City joins New York; Los Ange- The application, which will be the entire legal industry.” news from the Asian perspective. It matched per- les; Chicago; Philadelphia; Washington, D.C.; integrated into the NetDocuments The announcement of ac- fectly with Utah Education Network’s mission to San Francisco; Atlanta; Seattle; Denver; Orlan- platform in the first half of 2019, quisition was made at NetDocu- enrich lives and strengthen communities through do; Charlotte and Baltimore carrying the Japanese provides an intuitive way for deal ments’ annual customer and part- the power of media.” channel, which reaches over 325 million house- teams to coordinate on closings, ner summit ndElevate in Park City “The addition of NHK World-Japan to our holds in 160 countries. automates manual closing binder and terms were not disclosed.

SLC ranks No. 1 in nation for office net absorption growth UTAH’S BUSINESS JOURNAL Buoyed by robust tech-sec- urban market size in both Salt tech market is expected to remain markets posting rent growth of 10 USPS # 891-300 tor employment growth, Salt Lake and Utah counties, the Tech healthy; vacancy in the suburbs percent or more between the sec- Published weekly by: Lake City ranks first for office Corridor has accounted for 67 per- is in the single digits; and devel- ond quarters of 2016 and 2018, Enterprise Newspaper Group net absorption growth among the cent of total net absorption since opment — especially in the Tech the report said. Office rents also 30 leading tech markets in the 2017,” said Nadia Letey, first vice Corridor — is strong, with two- increased in 26 of the 30 prima- 825 North 300 West Ste. NE220 nation, according to commercial Salt Lake City, Utah 84103 president and office specialist at thirds of new construction already ry tech submarkets over the same 801-533-0556 FAX 801-533-0684 real estate firm CBRE’s annual CBRE in Salt Lake City. “Large pre-leased.” period. Salt Lake City rents have www.slenterprise.com Tech-30 report, which measures tenants are drawn to the area be- The influence of tech job cre- experienced slightly more mod- the tech industry’s impact on of- PUBLISHER & EDITOR cause of low costs, availability ation on office market growth est growth throughout this period, R. George Gregersen fice rents in the 30 leading tech of new product and access to tal- is pervasive across the U.S. and growing at 9 percent and ranking markets in the U.S. and Canada. PRESIDENT ent. Looking ahead, the overall Canada, with eight of the Tech-30 12th on the list. David G. Gregersen Salt Lake City’s 11.4 per- [email protected] cent growth in the third quar- VP/GENERAL SALES MANAGER ter was ahead of second-place Dale Dimond Raleigh-Durham, North Caroli- [email protected] na, which registered 7.9 percent MANAGING EDITOR growth. The rest of the top five John M. Rogers included Silicon Valley, Cali- [email protected] fornia (7.9 percent); Vancouver, CONTROLLER Richard Taylor Washington (7.1 percent); and [email protected] Charlotte, North Carolina (5.8 OFFICE MANAGER percent). Does your Dionne Halverson Salt Lake’s high-tech em- [email protected] ployment grew 8.1 percent dur- CLASSIFIED AND REAL ESTATE ing 2016 and 2017, with office [email protected] asking rents rising 9 percent from business CIRCULATION the second quarter of 2016 to the Dionne Halverson second quarter of 2018 to $23.96 [email protected] per square foot. Salt Lake City’s LIST DEVELOPMENT need Laneace Gregersen combination of low office rents [email protected] — particularly compared to pri- ADVERTISING INQUIRIES mary markets like San Francisco Talk to [email protected] and Seattle — and steady high- TO CONTACT NEWSROOM tech labor pool growth make it [email protected] an attractive market for commer- Capital? a pro... ART SUBMISSIONS cial real estate investors, accord- [email protected] ing to the report. While many Subscription Rates: Online only, $65 per year tech firms are willing to pay a Print only, $75 per year significant premium for office Online and Print, $85 per year space in leading tech submar- Any opinions expressed by the columnists are not kets — 13 percent more on av- necessarily the opinions or policy of Enterprise, it’s owners or managers. Reproduction or use of erage, according to the study — contents without written consent of the publisher is Salt Lake’s top tech submarket, prohibited. All rights reserved. the Utah and Salt Lake counties’ © 2013 Enterprise Newspaper Group Inc. Tech Corridor, has just a 3.5 per- www.capitalpropartners.com Periodical postage paid at Salt Lake City, Utah cent rent premium. POSTMASTER: Send address corrections to: P.O. Box 11778, Downtown Station “Despite accounting for (801) 512-0308 Salt Lake City, Utah 84147 only 38 percent of the total sub- 4 • Nov. 19-25, 2018 • The Enterprise - Utah's Business Journal ‘Shop local, dine local’ supports our small-business heroes Every year after Thanks- nationally. Here at home, Utah’s during the holidays is expected many ways, small businesses act ness owners are true heroes of giving, Americans kick off the 277,000 small businesses con- to increase by 5 percent as a re- as the glue that holds our com- our community. Let’s all join the holiday shopping season with tinue to generate two of every sult of our growing economy. By munities together. They fund the more than 100 million Ameri- big stores advertising deal af- three net new jobs and deliver cutting taxes and regulations, the local tax base, fi nance local non- cans in shopping and dining lo- ter deal. Not long ago essential goods and Tax Cuts and Jobs Act has helped profi ts and charitable organiza- cal as we begin this holiday sea- during the holiday sea- services to the state’s small businesses, the backbone tions and create good jobs that son. son, Americans would population. As the of Utah’s economy, to thrive and boost the overall economy. Dan Nordberg is the the SBA’s Re- typically visit locally voice of our nation’s grow. On Nov. 24, Small Busi- The accelerating prosperity ness Saturday, join me in mak- gion VIII administrator and is based owned small retailers entrepreneurs, the U.S. in Denver. He oversees the agen- is good news not only for Ameri- in a downtown area to Small Business Ad- ing at least one purchase from a cy’s programs and services in Col- purchase all of their ministration celebrates ca’s small businesses themselves locally owned small business in orado, Montana, Utah, North Da- gifts. Business own- DAN the ’ 30 but for society as a whole. In so your city or town. These busi- kota, South Dakota and Wyoming. ers would decorate NORDBERG million small busi- their shops with lights nesses that still ignite and ornaments or create elabo- our local economies and enrich succeed.” The economic future is growing rate window displays to grab the our communities throughout the FORUM Utah can show the U.S. in Utah better than anyplace in imagination of passersby and en- year. from page 1 and the world “about how to America today.” courage them to come inside. It In 2017, Small Business apply pragmatic principles cor- Herbert said that “no place is was a magical time of year, and Saturday provided a huge boost the economic ladder, but they rectly, how to foster innovation more uniquely suited for an eco- many of us still hold on to those to the overall U.S. economy will start moving up and improv- and prosperity, and then how to nomic expansion in world trade memories today. when 108 million consumers ing the lives of the people in their enjoy an incredibly high quality than Utah” because its popula-

With the dramatic changes shopped or dined "small" and countries and in their communi- of life,” Hansen said. tion is diverse and speaks 130 in retail over the past 20 years, generated nearly $12 billion in ties. We have this opportunity to Several speakers said the languages, its people understand those holiday scenes have been reported spending. With the in- share our successes and how we elements springboarding Utah commerce and they have a cul- in danger of passing into the creased consumer confi dence did it with many people in the into greater international trade ture of entrepreneurship. realm of nostalgic folklore. Re- in the economy, combined with world today.” prominence include the future And Utah companies under- cent surveys show that 79 per- the benefi t of the president’s tax Miles Hansen, president and development of an inland port, stand that 95 percent of potential cent of Americans make regu- cuts, this year’s Small Business CEO of the World Trade Center the ongoing reconstruction of customers live outside the U.S., lar online purchases throughout Saturday, on Nov. 24, looks to be Utah, said Utah has “all the the Salt Lake City International he said. the year. Brick-and-mortar busi- even brighter. In addition to the inputs necessary to lead in the Airport terminal, the rise of the Utah’s approach is not nesses are looking for new ways tax cuts themselves, which have global economy.” technology hub universally shared, he noted, to compete and provide a more benefi ted virtually everyone, “We have these companies and developments in Salt Lake because it shuns high tariffs, personalized customer-service more than 6 million American in Utah already doing incredible City’s Northwest Quadrant. trade wars and protectionism. focus as well as benefi ts to the workers have received a bonus, things, so when we think about “What’s taking place here is “That’s not what we’re doing in local community by creating a pay raise or improved job Utah being the ‘Crossroads of going to enhance this ability for Utah,” Herbert said. “We under- jobs and boosting the local econ- benefi ts as a result of these the World,’ it really is an oppor- us, in fact, to be the ‘Crossroads stand we want to have mutu- omy. cuts. This translates into great tunity that we have,” he said. of the World,’” Herbert said. “It’s ally beneficial trade. … We want Their efforts are working news for small retailers and “But we need to get it right. We an exciting time because of all win-win relationships.” and small businesses remain the restaurants across the country, need to think about our economy this. That’s why people in Utah Trade missions — excur- top producers both in Utah and because consumer spending holistically. We need to work not only use past tense — ‘Well, sions to other countries as a way together and make sure that we you had a great run’ — but they to build economic ties — have maintain all of those factors that look at the future and say the been one way to build those rela- are putting us in a position to future is very bright in Utah. tionships. Herbert said they are like going to a garage or grocery Audio and Visual store. “It’s no different when you do trade missions with coun- 77 percent of the world’s trans- Technology Solutions tries,” he said. “You get to know QUALTRICS actions. When you combine our from page 1 operational data with Qualtrics’ them, you get to understand experience data, we will acceler- them, you have a trust them in, of Qualtrics for $8 billion in ate the XM category with an end- you like the business association cash. SAP said it has secured fi - to-end solution with immediate and they become your friends. nancing in the amount of 7 billion global scale. For Qualtrics, this We need to promote more of that euros to cover the purchase price introduces a dynamic new partner around the world.” and acquisition-related costs. The with the belief, passion and scale The forum’s keynote speak- purchase price includes unvested to bring experience management er, Ben Stein, an economist, law- employee incentive compensa- to millions of customers around yer, teacher and commentator in tion and cash on the balance sheet the world.” the areas of economics, politics at close. Subject to customary “The combination of Qual- and daily life in America, had closing conditions and attainment trics and SAP reaffi rms experi- many compliments for Utah, of regulatory clearances, the ac- ence management as the ground- ranging from the greatness of quisition is expected to close in breaking new frontier for the Crown Burger food to the vision- with GENCOMM–your trusted partner. the fi rst half of 2019. The boards technology industry. SAP and ary thinking of people working of directors of both companies Qualtrics are seizing this oppor- to develop the inland port. • Providing real AV innovation have approved the transaction. tunity as like-minded innovators, The port, he said, will be “the physical essence of trade.” • Creating extraordinary results Qualtrics’ shareholders have also united in mission, strategy and approved the transaction. culture,” McDermott continued. Utah also has internationalism We continually seek out “We share the belief that every that is the essence of The Church transformational opportunities human voice holds value, every of Jesus Christ of Latter-day — today’s announcement is ex- experience matters and that the Saints, he added. “There’s no actly that,” said SAP CEO Bill best-run businesses can make the more perfect spot on this Earth McDermott. “Together, SAP and world run better. We can’t wait to for a new, giant, super trade zone Qualtrics represent a new para- stand beside Ryan and his amaz- than here in Zion, in Deseret,” www.gencomminc.com digm, similar to market-making ing colleagues for the next chap- Stein said, “where the geography (801) 266-5731 shifts in personal operating sys- ters in the experience manage- of Earth meets the geography of 12393 S. Gateway Park Pl., Suite 400, Draper, Utah 84020 tems, smart devices and social ment story. The best for Qualtrics the soul to create a natural trade networks. SAP already touches and SAP is yet to come!” environment of Eden.” The Enterprise - Utah's Business Journal • Nov. 19-25, 2018 • 5 6 • Nov. 19-25, 2018 • The Enterprise - Utah's Business Journal

CORPORATE You store food against an emergency; is FINANCIAL REPORTS your IT system ready for a disaster, too? We all have either read or mean complete loss of your busi- and baseline copies of documents The following are recent Clarus actually prepared in some way ness. being worked while removing financial reports as posted by Clarus Corp., based in Salt for natural disaster emergencies So, whether it is a leaking unneeded data can reduce your selected Utah corporations: Lake City, reported net income at home by storing some water, toilet in an offi ce above yours, data footprint. of $4.1 million, or 14 cents per blankets, food with a long shelf- a roof that caved in due to a Document your network. Nu Skin share, for the third quarter ended life and other essentials needed to heavy snowstorm or a fi re that Create network maps and label Inc., Sept. 30. That compares with a net survive without the basic ameni- burns your entire building to all the hardware on your net- based in Provo, reported net loss of $1.6 million, or 5 cents per ties we are all used to. the ground, businesses work. This will allow you to re- income of $53.1 million, or 94 share, for the same quarter a year This is a proactive must protect their data create your network in a new lo- cents per share, for the third quar- earlier. approach to planning for to survive. Luckily, cation as needed. Use a clear and ter ended Sept. 30. That compares Sales in the most recent natural disasters. Most these worst-case sce- easy-to-follow naming conven- with $41.7 million, or 76 cents per quarter were a company-record of the work is done be- narios can be mitigated tion and share the network map share, for the same quarter a year $55.7 million, which compares fore the emergency oc- with proper planning with your emergency reclama- earlier. with $45.8 million in the year- curs, not during the ac- and a proactive ap- tion team and store the map in Revenue in the most recent earlier quarter. tual event. Why do we DAVID proach toward disaster the cloud. quarter totaled $675.3 million, up Clarus develops, manu- plan this way? We do it BLACK recovery. Part of your plan should in- from $563.7 million in the prior- factures and distributes outdoor to ensure that all the de- The following clude which team members will year quarter. equipment and lifestyle products tails and possibilities are are tips to help imple- be in charge of moving equip- Nu Skin develops and dis- focused on the climb, ski, moun- covered with an effective solu- ment a disaster recovery plan for ment and who is in charge of tributes consumer products, tain and sport categories. The tion to implement with little to no your business: making the fi nal decision to including beauty and wellness company’s products are principal- thought. Create a formal plan. solutions. ly sold under the Black Diamond, Most move or stay. Having a network If your stockpile of supplies “We delivered strong year- Sierra and PIEPS brand names. businesses have some sort of di- map and thorough hardware list were to be used up, more than over-year financial results with “The record results of our saster plan in place that details will be useful for insurance pur- likely, you would restock your reported revenue growth in every third quarter continued to prove evacuation routes, includes a re- poses as well. supply before the next hurricane, region, highlighted by double- the momentum in our brands and call roster, has procedures for Test your plan in action. earthquake or tornado hit. digit increases in Mainland China reinforce that our strategy is gain- reporting and other details. The Test your team members’ knowl- Safeguarding your business’ and Southeast Asia,” Ritch Wood, ing strength,” John Walbrecht, biggest asset to your company edge and ability to respond to di- data requires a similar approach: CEO, said in announcing the president, said in announcing the are the people in the seats. Their saster by following the plan you results. “This is our fourth con- results. “We realized 12 percent putting the proper protocols and safety is paramount. A huge por- have created. Conducting tests of secutive quarter of revenue growth growth from Black Diamond, processes in place before disaster tion that is missing from most your plan will identify any fl aws of 20 percent or more, driven by driven by 17 percent growth in shows its ugly face. plans though, is how your data and ensure that your data is safe the continued execution of our mountain, 14 percent growth in If your business is ill-pre- is managed, protected and recov- in the event of a disaster. growth strategy focused on engag- climb and a 40 percent increase in pared for disasters, be it natural ered during and after emergen- Protect your hardware. ing platforms, enabling products apparel, as well as 35 percent pro or manmade, your data is signif- cies. While a lot of businesses are and empowering programs which forma growth in Sierra. icantly at risk. Furthermore, if When you create a plan and working toward moving to the led to solid customer growth of 9 your business is data-centric, as write it down, it forces you to cloud, almost all businesses still percent and sales leader growth of most businesses are in the 21st think about any fl aws you may have hardware on-site. Protect- see EARNINGS page 12 14 percent.” century, complete data loss will have in your data management ing your hardware can save your plan. If your server room is prone data reduce the risk of total loss. to fl ooding because of a leak in Keep hardware off the fl oor to your roof or you don’t have an prevent fl ood damage. Having acceptable-use policy in place, a uninterruptable power supplies formal plan brings these fl aws to for your equipment will keep light. them safe from a power surge Your disaster recovery plan during thunderstorms. Keeping Civil Engineering needs to account for every type hardware free from dust, check- and severity of emergency. As- ing for worn cords and monitor- Structural Engineering sign specifi c tasks to each mem- ing temperature levels are key ber of your emergency recla- to preventing fi res. Server room Missing a Piece? Laser Scanning & Land mation team as part of the plan. fi res often occur due to overheat- Surveying Every staff member that is in- ing complications. Ensure your We Have You Covered cluded in emergency respond- server room is properly ventilat- ed. Paving & Roofing Consulting ing should understand what their role is and that the business data Don’t wait for the worst- case scenario. Accidents hap- Landscape Architecture is an asset — an asset that must be managed proactively before pen and natural disasters are un- avoidable. You can’t control if disaster strikes. someone cooks their microwav- Organize your data. Iden- able popcorn for 20 minutes in- tify the data that is vital to your stead of following the directions. business. This is the data that you Or the possibility that your build- cannot afford to lose — the data ing’s pipes aren’t insulated, caus- that would cause you to shut the ing a burst in the winter, fl ooding doors should it be lost. your entire offi ce space. Account for the data on your Hope for the best, but plan server and organize it in a way for the worst-case scenario. Build that makes sense. Organization redundancies and safeguards for removes the odds that impor- your business and your data will tant data can be overlooked and emerge unscathed. missed during the recovery pro- Follow Us On: cess. David Black is the director of busi- 801-255-7700 ness development for Wasatch Remember, you don’t need I.T., a Utah provider of outsourced www.mcneilengineering.com to keep everything, only the vi- IT services for small and medium- tal data. Keeping offi cial records sized businesses. The Enterprise - Utah's Business Journal • Nov. 19-25, 2018 • 7

your leadership makes us stronger © 2018 Rocky Mountain Power

We are pleased and honored to recognize one of our own, Rocky Mountain Power CEO Cindy Crane. She’s this year’s ATHENA Leadership Award recipient for her remarkable contributions to making our customers’ lives better and helping our communities thrive. We are inspired by her power to lead. 8 • Nov. 19-25, 2018 • The Enterprise - Utah's Business Journal Industry Briefs

Industry Briefs are provided as the instructional systems depart- be assuming credit risk manage- aide is $50,336, down 2.2 percent; grams. A federal grant application a free service to our readers. ment at Southwest Technical ment responsibilities. Fullerton for adult day care is $12,090, handbook is available at www. Company news information may College. She has spent the past 10 has been with Bank of Utah since down 24.3 percent; for assisted slco.org/hcd to assist applicants be sent to brice@slenterprise. years in higher education as an 1997. living facilities is $40,200, up 6.3 through the process, as well com. The submission deadline is administrator, department coor- percent; for nursing home semi- as the link to ZoomGrants for one week before publication. dinator and instructor. Prior to DIRECT SALES private room is $73,000, up 8.1 the applications. The Salt Lake Southwest Technical College, • Essential percent; and for nursing home County Division of Housing and AGRICULTURE Drake’s varied business experi- private room is $91,250, up 9.1 Community Development (HCD) • The Downtown Winter Oils, Lehi, has announced that ence includes 25 years as co-own- percent. has released the request for appli- Market has opened at the Rio the Gihndagun Farm in Tatham, er, manager and lead designer for cations for Community & Support Grande Depot, 300 S. Rio Grande Australia, will become the com- D&S Construction of Southern Services and CDBG Hard Cost St., Salt Lake City. It features pany’s newest partner farm. EXPANSIONS Utah. She owned a retail store, a Programs. The funds include more than 70 local vendors and Gihndagun will provide Young • Lucidchart, a South Jordan- fitness center, and a land develop- CDBG and ESG funding through takes place Saturdays, 10 a.m.-2 Living with melaleuca alternifo- based visual productivity platform ment and property management the U.S. Department of Housing p.m., through April 20. The mar- lia (tea tree) essential oil, which company, has opened its EMEA company. She has also specialized & Urban Development and SSBG ket is in its sixth season. Details can be used for everything from headquarters in Amsterdam. In in leadership training and online funds through the state of Utah. are at slcfarmersmarket.org. home cleaning solutions to skin the next two years, the company course development. She has a care. The 100-acre Gihndagun plans to hire for approximately M.Ed. in instructional design from Farm is Young Living’s third 40 new positions in Amsterdam LAW ARTS/ENTERTAINMENT Western Governor’s University partner farm in Australia. Young across sales, marketing and cus- • Holland & Hart has hired • The Governor’s Office of and a B.A. in art composite from Living also recently announced its tomer success teams. The office Emily Tabak, Chris LeCates, Economic Development (GOED) Southern Utah University. official expansion of making its marks Lucidchart’s first interna- Nils Lofgren and Rob Hartshorn board, at its November meet- products available in China. The tional expansion. It generates 25 for the firm’s Salt Lake City office. ing, approved a Motion Picture China headquarters will be based percent of its total revenue from Tabak, LeCates and Nils join the Incentive Program tax credit of BANKING • Bank of Utah, Ogden, has in Guangzhou in southeast China. Europe and over 33 percent from firm’s Environmental, Energy up to $550,000 for 1483 Inc. for announced a pair of executive international users. its production of “Inheritance,” a changes. Roger G. Shumway, feature thriller. The production is DIVIDENDS executive vice president and chief expected to spend $2.75 million in • The board of directors of FOODS credit officer, will change some Utah, including during principal Nu Skin Enterprises Inc., Provo, • Smithfield Foods Inc., of his responsi- photography set for Nov. 26-Dec. has declared a quarterly cash divi- based in Virginia, has announced, bilities and will 21. The production will have 23 dend of 36.5 cents per share. The through the nationwide expansion oversee wealth cast members, 84 crew members dividend will be paid Dec. 12 to of Smithfield Renewables, proj- management, and 250 extras. Shooting is expect- stockholders of record Nov. 30. ects designed to help meet its goal collections and Emily Tabak Chris LeCates ed to take place in and around • The board of directors of to reduce the company’s green- special projects. Salt Lake County. The film will SkyWest Inc., St. George, has house gas emissions 25 percent He also will be tell the story of Lauren Monroe, declared a quarterly dividend of by 2025. As part of the expan- transitioning the daughter in an elite family. 10 cents per share. The dividend sion of Smithfield Renewables, his credit risk “When her father dies unexpect- Roger Shumway will be paid Jan. 7 to shareholders Smithfield is setting a goal to management edly, she is thrust in the middle of record Dec. 31. implement “manure-to-energy” responsibilities over the next year. of her father’s secrets and forced projects across 90 percent of Shumway has been with Bank of to face truths about her family,” ECONOMIC Smithfield’s hog finishing spaces Utah for 22 years and worked in GOED documents say about the in North Carolina and Utah, and banking for more than 40 years, INDICATORS plot. The film will star Kate Mara nearly all of Smithfield’s hog fin- Nils Lofgren Rob Hartshorn holding positions at Wells Fargo, • West Valley City is the and Simon Pegg. The director ishing spaces in Missouri over the First Security Bank and Zions best Utah city for buying a home and Natural Resources practice. is Vaughn Stein. Producers are next 10 years. In Utah, Smithfield Bank. Shumway graduated from as an investment, according to Hartshorn joins the firm’s Real Richard Lewis and David Wulf. HomeArea.com is investing in renewable natural the University of Utah with a rankings by . Its Estate and Construction practice. “Cities in Utah that are gas (RNG) production by building B.S. in business-finance. Cari list of Tabak advises clients on various Better to Buy Than Rent” is 26 hog farms equipped with cov- ASSOCIATIONS Fullerton, commercial lending ered lagoons specifically designed environmental compliance, • The Women’s Business based on the latest Census Bureau team leader for Bank of Utah, has for anaerobic digestion. This permitting, and litigation matters Center of Utah (WBCUtah) has data for cities with a population been named senior credit admin- project marks the first time that at state and federal levels. Prior named Debbie Drake as its new of 60,000 or more, with the rank- istrator and will Smithfield is building U.S. hog to joining Holland & Hart, Tabak southern office program director. ings determined by calculating become part farms equipped with renewable was an associate at K&L Gates Drake will plan and launch servic- the price-to-rent ratio (the median of the bank’s energy technology. The engineer- LLP in New Jersey and she also es for female business owners and senior manage- home value divided by the median ing includes in-ground digest- practiced at Kramer Levin Naftalis aspiring entrepreneurs in Utah’s ment team. She annual rent). West Valley City was ers to collect biogas that will be & Frankel LLP in New York City. southern cities. This new position will oversee followed by, in order, West Jordan, refined and pumped into the natu- LeCates counsels natural resources was created with the expansion of loan operations Ogden, Layton, Orem, South ral gas pipeline. Once complete, clients on complex title and WBCUtah to be statewide. Drake and loan ser- Jordan, Sandy, St. George, Provo the project will create enough transactional matters. He assists most recently was the director of Cari Fullerton vicing and will and Salt Lake City. clients with drilling, division Long-term care costs RNG to power 4,000 homes each • in order, financing and acquisition Utah were mixed from 2017 to year. Smithfield is constructing the farms, which will ultimately title opinions and has experience 2018, according to the 15th annual with title examination of private, Genworth Cost of Care Survey. be owned and operated by contract growers. In 10 years, more than 90 federal, state and Indian lands. In Utah, the costs of assisted liv- Prior to joining Holland & Hart, ing facilities and nursing homes percent of Smithfield’s hog finish- ing spaces in Utah will have the he practiced in North Dakota, increased, while home care ser- focusing on oil and gas litigation, vices and adult day care ser- capabilities to produce renewable energy, Smithfield said. title opinions, foreclosures, vices decreased. Meanwhile, the commercial law and general blended annual median cost of commercial litigation. His educa- long-term care support services GOVERNMENT tion includes a B.S. from Utah increased across the country an • Applications will be State University. Lofgren provides average of 3 percent from 2017 to accepted until 5 p.m. Dec. 21 counsel to energy and resources 2018, with some care categories by Salt Lake County for 2019- clients on title examination, due exceeding two to three times the 2020 Community and Support diligence and real estate matters. 2.1 percent U.S. inflation rate. In Services (SSBG, ESG and He advises oil and gas compa- Utah, the median annual cost for CDBG public services) and the homemaker services is $50,336, Community Development Block down 2.2 percent; for home health Grant (CDBG) Hard Cost pro- see BRIEFS next page The Enterprise - Utah's Business Journal • Nov. 19-25, 2018 • 9 Industry Briefs Co. of its acquisition of land neigh- Corps. Stan Rees, founder of Morningstar Research Services’ emotional intelligence and how it from previous page boring the Deer Valley Resort. In Salt Lake Community College’s top accolade, the Morningstar can be applied to employee inter- total, that acquisition is in excess Global Business Center, received Inc. Analyst Rating of Gold, actions with the payroll depart- nies in exploration, develop- of 2,300 acres. Landscope’s prop- the Lifetime Achievement for the eighth consecutive year. ment. After undergoing the train- ment and operation of proj- erty will feature 180 condomini- Award. Rees has promoted inter- Morningstar evaluated 62 plans ing, the annual customer service ects on fee, state, federal and ums and 200 attached townhomes. national business for more than nationwide in the annual report, score received by the university’s Indian lands. Lofgren earned The first component will consist three decades, with my529 being one of four to payroll team was 9.1 out of 10, his J.D. from the University of 24 condominiums and 34 town- providing assis- earn the Gold rating. Morningstar’s the department’s highest rating in of Utah S.J. Quinney College homes. tance and coun- Manager Research Group assess- 10 years. Lauren Walker of Law, his Masters of Real • Buckanan Street Partners, seling to com- es 529 plans based on oversight, • , chief sup- Estate Development from the a California-based real estate panies as direc- underlying investment quality, the ply chain officer at Young Living UofU’s David Eccles School investment management firm, has tor at the U.S. asset-allocation approach used Essential Oils, Lehi, was named Guest of Honor Impact of Business and his B.A. from completed construction on Incline Department by the age-based portfolios, fees at Magazine the UofU. Hartshorn represents at Anthem, a luxury, active adult of Export and performance. In 2018, my529 ’s Women of Impact Honorary Black Tie Affair in institutional, commercial and apartment community at 11901 Stan Rees Assistance changed its name from the Utah developer clients in real estate Freedom Park Drive, Herriman. Center, and later Educational Savings Plan (UESP). Washington, D.C. The ceremony honored excep- acquisitions and dispositions as Units are available for lease at the as the founder of • tional female well as leasing and develop- 298-unit project for adults over Salt Lake Community College’s and the University of Utah are business lead- ment for various property types age 55. Buchanan Street Partners Global Business Center. In 2006, among the top undergraduate and ers who make throughout the United States. purchased the partially completed he developed the Executive graduate entrepreneurship schools a significant He also assists large commer- Incline project in 2017. Certificate of Global Business in ranking released by Princeton cial and retail landlords and Management course offering inter- Review and Entrepreneur impact in their tenants in lease preparation and national business training through magazine. Among undergradu- industries and lease negotiations. workshops, seminars and business ate programs, BYU was ranked local communi- briefings. Each year, the World No. 4 and the UofU was No. Lauren Walker ties. Walker has Trade Association of Utah part- 9. The University of Michigan three decades MILESTONES of experience with high-profile • Solar Inc., a Lehi- ners with Key Bank to honor was top-ranked. Among graduate international companies. She based residential solar provider, international business leaders at programs, BYU was No. 10 and worked at Xerox as an engineer, has installed 1 gigawatt of solar the Utah Global Forum, organized the UofU was No. 19. Babson followed by 10 years with Procter energy systems since its launch by World Trade Center Utah, College was top-ranked. The lists & Gamble in supply chain, man- seven years ago. Founded in the Salt Lake Chamber and the are based on surveys conduct- ufacturing/technical operations 2011, Vivint Solar has more Governor’s Office of Economic ed from July through August of MACHINE and quality. She also worked than 146,000 customers in 22 Development. administrators at more than 300 for seven years with Johnson & states. TECHNOLOGY • BioUtah honored several schools offering entrepreneurship individuals at the 2018 Utah Life studies. The 60-question survey Johnson as a plant manager and Sciences Summit for significant covered the schools’ commitment as program manager of its oral NONPROFITS SOLUTIONS care franchise. Prior to joining • National Ability Center, contributions to Utah’s life sci- to entrepreneurship studies inside HONNEN ences industry. Awards were pre- and outside the classroom. Young Living in 2016, she was a Park City-based provider of vice president of manufacturing adaptive recreation and Splore EQUIPMENT sented to Kelly Slone McAleer, • Brigham Young University former presi- recently earned a PRISM award at . outdoor adventures, has broken 1380 S. Distribution Dr., SLC • The recent Utah Global 801-262-7441 dent and CEO for payroll best practices in ground for its Equestrian Center Forum included the presenta- expansion and new Recreation of BioUtah, the area of management by the and Melanie American Payroll Association. tion and judging of three final- Center. It is the largest project World Trade RECOGNITIONS Bowen, state The honor was in recognition of ists from the for the organization since build- Center Utah Pitch • Two individuals and one director at the its managerial efforts to increase ’s annual ing the lodge in 2002, which Competition company were honored at the office of U.S. the payroll customer service expe- . The competition houses families, Paralympic Utah Global Forum for their provided small to medium-sized athletes, program participants Sen. Orrin rience for employees of the uni- outstanding contributions to Kelly Slone Utah businesses with an oppor- and more throughout the year. Hatch. Awards versity. The university’s payroll advancing international trade and McAleer also were pre- department’s customer service is tunity to compete for grant funds The National Ability Center Lifetime Products commerce. annually evaluated by groups that to advance their international has partnered with Big-D Company of was recognized as interact with payroll. Over the business goals. Taking first place Construction to manage and the Year . Established in 1986, past year, the seven-person pay- facilitate the construction. The Lifetime Products is a privately Equestrian Center expansion roll team at BYU spent several see BRIEFS page 16 held company in Clearfield that months undergoing training on will add 11,715 square feet to employs 3,000 workers globally the current space, while the and manufactures polyethylene Recreation Center will provide folding tables, chairs and residen- 8,355 square feet for offices, tial basketball hoops. With other Melanie Bowen Scott England indoor activity rooms and more. offerings from outdoor sheds and Both undertakings are sched- composters to playsets and kay- uled to be completed by mid- aks, Lifetime has products sold in For all your truck equipment needs summer 2019. more than 110 countries around If it goes on a truck we probably do it! the world. David Utrilla, found- REAL ESTATE er and CEO of U.S. Translation • Burbidge Investment Co., was honored as Person of Service bodies, atbeds, dumps, plows Group Inc., in partnership with the Year. While still in college, Tool boxes, cranes, van interiors & much more. Sundance Bay Capital, has Utrilla founded acquired 66 acres land across company in Kerri Harris Jake Willis CALL US FOR A QUOTE Utah Highway 40 from the 1995 to provide sented to Scott England, Merit Deer Valley Resort. Landscope, translation and Medical; Kerri Harris, BD; and an affiliate of Burbidge, is interpretation Jake Willis, Nelson Labs, who the developer of the Shores at services. Today, are industry leaders of the Medical Stillwater and Village at The the company Innovations Pathways program. Shores, two developments has more than BioUtah also honored Richard in the Mayflower area of the David Utrilla 4,000 linguists Ji, its outgoing chairman, for his 4285 West 1385 South Jordanelle. The new acquisition worldwide. Salt Lake City, Utah 84104 service. in the immediate Mayflower Utrilla also serves as the honor- 1-800-442-6687 • Utah’s my529 educa- area follows the announcement ary consul of Peru and incoming www.semiservice.com last year by Extell Development president of the Utah Consular tional savings plan has received 10 • Nov. 19-25, 2018 • The Enterprise - Utah's Business Journal The Enterprise - Utah's Business Journal • Nov. 19-25, 2018 • 11 Calendar

Calendar listings are provided Commerce, World Trade Center Enterprises. Location is Little members, $725 for nonmembers. Details are available by contacting as a free service to our read- Utah and Zions Bank. Curtis will America Hotel, 500 S. Main Details are at https://2018.ssticon- Meagan Sanders at msanders@ ers. Information about upcoming discuss new relations and oppor- St., Salt Lake City. Cost is $10. ference.org/. uvu.edu or (801) 863-5354. events may be sent to brice@ tunities with Mexico, immigra- Details are at http://www.utah- slenterprise.com. The submission tion, DACA and other impor- safetycouncil.org/ProductDetails. deadline is one week before pub- Dec. 4 and 6 Dec. 5, 7:30-9 a.m. lication. tant issues. Location is Zions aspx?ProductID=2587. “Holiday Mindfulness for Early B.I.R.D. Business Bank, Founders Room, 1 Main Professionals,” a Primer, an Ogden-Weber St., Salt Lake City. Cost is $20. Nov. 29, 8-11:30 a.m. University event aimed at help- Chamber of Commerce event. Nov. 19, 11:30 a.m.-1 p.m. Registration deadline is Nov. 23 at “Performance Documen- ing people deal with elevated Speaker Jodi Brown, owner of “Hours with the Expert,” noon. Details are at wtcutah.com. tation Skills,” an Employers stress levels during the holi- Amplio Development, will discuss a West Jordan Chamber of Council event teaching a simple days. Location is Utah Valley “Strategies to Make the Most of Commerce event. Location is the performance documentation pro- University Thanksgiving Point Every Day.” Location is the Weber chamber office, 8000 S. Redwood Nov. 27, 10-11 a.m. “The Art of Negotiation,” cess and its importance in prevent- Campus, Lehi. Cost is $75. Center, 2380 Washington Blvd., Road, West Jordan. Details are at a West Jordan Chamber of ing legal claims. Location is the Details are at https://ceweb.uvu. Ogden. Free for chamber mem- westjordanchamber.com. Commerce event. Presenter is Employers Council, Utah office, edu/wconnect/CourseStatus. bers and first-time guests. Details Marty Gale. Location is West 175 W. 200 S., Suite 2005, Salt awp?&course=18FCPD039V02. are at ogdenweberchamber.com. Nov. 20, 8 a.m.-1:30 p.m. Jordan Chamber Office, 8000 Lake City. Cost is $130. Details 2018 Women’s Business S. Redwood Road, West Jordan. are at employerscouncil.org. Leadership Conference with the Dec. 4, 8-9 a.m. Dec. 5, 8-9:30 a.m. Free. Details are at westjordan- “The Foreign Corrupt CFO Alliance, a Utah theme “Embracing Your Passion chamber.com. Practices Act: FCPA Basics, Technology Council event for For Business,” presented by Wells Nov. 29, 9:30 a.m.-2:30 p.m. 2018 WIB Summit, a Davis Enforcement Trends and How UTC-member financial executives Fargo and the Utah Hispanic Chamber of Commerce event. to Stay Out of Trouble,” present- only. Discussion topic is “Top Chamber of Commerce (UHCC). Nov. 27, 11:30 a.m.-1 p.m. Women in Business Location is Davis Conference ed by Parsons Behle & Latimer. 10 Issues for Year-End Focus,” Event is a half-day educational Luncheon, an Ogden-Weber Center, 1651 N. 700 W., Layton. Discussion topics include FCPA including insights into corporate/ and networking event for future Chamber of Commerce event. Details to be announced. liability framework, including pass-through/individual tax plan- or current women business own- Location is Hub 801 Events, 3525 business activities that may incur ning opportunities, ASC 606 (rev- ers. Keynote speaker is Gabrielle Riverdale Road, Ogden. Cost is multi-million-dollar penalties; enue recognition) pitfalls, inter- McAfee, owner and founder of Nov. 29, 10 a.m.-noon $20. Details are at ogdenweber- how reliance on foreign contrac- national implications of the new Café Madrid. Roundtable dis- “Government Contract- chamber.com. tors, agents and other third-parties tax law, and IT security threats. cussions will focus on business ing,” a U.S. Small Business can create FCPA liability; compli- Location is Tanner LLC, 36 S. resources, funding, branding and Administration event. Location ance best practices to minimize State St., fifth floor, Salt Lake sales. Location is the Utah Cultural Nov. 27, noon-12:50 p.m. is the Wallace Bennett Federal FCPA-related risks for overseas City. Free. Registration can be Celebration Center, 1355 W. 3100 Fall 2018 Silicon Slopes Building, 125 S. State St., Room operations; and recent FCPA completed at Eventbrite.com. S., West Valley City. Free. Details Lecture Series at Utah 2222, Salt Lake City. Free. Details enforcement trends. Location is are at http://www.utahhcc.com/. Valley University, a UVU are at https://www.sba.gov/tools/ Entrepreneurship Institute events. Parsons Behle & Latimer’s Lehi Dec. 5, 9-11 a.m. 14-week event open to students office, 2901 Ashton Blvd., Suite “Starting Your Business Nov. 20, 10-11:30 a.m. and community members inter- 210, Lehi. Free. Registration can 101,” a Salt Lake Small Business “End Your Digital Mark- Nov. 29, 4-6 p.m. ested in learning from experienced be completed at Eventbrite.com. Development Center (SBDC) eting Overwhelm,” a West Jordan Multi-Chamber Business entrepreneurs. Activities take place event. Location is Corporate Chamber of Commerce event. After Hours, presented by at noon on Tuesdays. Speaker Sid Partnership Center, MCPC 110, Location is the chamber office, the Sandy Area, West Jordan Dec. 4, 11 a.m.-1 p.m. Krommenhoek, managing part- “Women in Business 9690 S. 300 W., Sandy. Details are 8000 S. Redwood Road, West and Murray Area chambers of ner of Peak Ventures, will dis- Holiday Jingle & Mingle,” a at https://utahsbdc.org/trainings. Jordan. Details are at westjordan- Commerce and ChamberWest. cuss “From Startups to VC: Some ChamberWest event. Location is chamber.com. Location is Utah Trucking Things Never Scale.” Location is Association, 4181 W. 2100 S., Western Gardens, 4050 W. 4100 Dec. 5, 3-4:30 p.m. UVU, 800 W. University Parkway, West Valley City. Registration can S., West Valley City. Cost is $20 “Jump Start: Intro to Nov. 20, 11:30 a.m.-1 p.m. Science Building, Room 134, be completed at chamberwest. for chamber members by Nov. Entrepreneurship,” a Salt Business Alliance Net- Orem. Free. Details are available com. 30, $20 for nonmembers or at the Lake Chamber seminar. Event is working Luncheon, a Davis by contacting Meagan Sanders at door. Details are at www.cham- designed for all entrepreneurs: Chamber of Commerce event. [email protected] or (801) 863- berwest.com or by calling (801) those looking to go into busi- Location is Boondocks Fun Nov. 30, 7:30-8:30 a.m. 5354. 977-8755. ness, early startup stage or those Center, 525 Deseret Drive, Eggs & Issues, a Murray looking to improve an existing Kaysville. Free. Details are at Area Chamber of Commerce business. Location is the Women’s davischamberofcommerce.com. Nov. 27, 5-7 p.m. event. Speakers are Deb Ashton, Dec. 4, 11:30 a.m.-1 p.m. Holiday Open House 2018, school district prevention special- Business Alliance Net- Business Center, 175 E. 400 S., hosted by the Salt Lake Chamber, ist with Murray School District, working Luncheon, a Davis Suite 600, Salt Lake City. Free. Nov. 21, 8:30-11:30 a.m. Downtown Alliance, Women’s and Darren Dean, director of Chamber of Commerce event. Details are at slchamber.com. “Grow Your Business: Business Center of Utah and personnel and student services. Location is Boondocks Fun Phase I,” a Small Business Devel- Women’s Leadership Institute. Location is Anna’s Restaurant, Center, 525 Deseret Drive, opment Center (SBDC) event. Dec. 5, 3:30-5:30 p.m. Location is Salt Lake Chamber, 4770 S. 900 E, Salt Lake City. Kaysville. Free. Details are at Business Connections, a Location is the Orem SBDC, 815 175 E. University Blvd. (400 Free unless ordering from the davischamberofcommerce.com. ChamberWest event focusing on W. 1250 S., Orem. Details are at S.), Suite 600, Salt Lake City. menu. Open to everyone. Details relationship-building and business https://utahsbdc.org/trainings. Free (registration is appreciated). are at murraychamber.org. Dec. 4, noon-12:50 p.m. connections, featuring opportuni- Details are at slchamber.com. Fall 2018 Silicon Slopes ties to present your business and Nov. 22, 10 a.m.-noon Dec. 4-5 Lecture Series at Utah two 10-minute presentations. Free “Government Contract- Nov. 28, 8-10 a.m. SSTI 2018 Annual Con- Valley University, a UVU for ChamberWest members, $5 for ing,” a U.S. Small Business M.A.C.H. Speed Network- ference, a gathering of policymak- Entrepreneurship Institute nonmembers. More information Administration event. Location ing, a Murray Area Chamber of ers and practitioners from federal, 14-week event open to students and location details are available is the Wallace Bennett Federal Commerce event. Location is state and local government, non- and community members inter- at (801) 977-8755 or chamber@ Building, 125 S. State St., Room Hampton Inn by Hilton, 3210 E. profits, investors and higher edu- ested in learning from experi- chamberwest.com. 2222, Salt Lake City. Free. Details Millrock Drive, Holladay. Free, cation in the country. Host partner enced entrepreneurs. Activities are at https://www.sba.gov/tools/ and open to everyone. Details are is the Utah Science Technology take place at noon on Tuesdays. Dec. 5, 5:30-8 p.m. events. at murraychamber.org. and Research Initiative (USTAR). Speaker Eric Rae, founder, “Managing Organizational Theme is “Navigating the New CEO and president of Podium, Growing Pains,” a Silicon Slopes Nov. 26, 11:45 a.m.-1:15 p.m. Nov. 28, 11:30 a.m.-1 p.m. Innovation Landscape.” Location will discuss a topic to be deter- event. Speakers Jeff Weber, Luncheon with Congress- Women in Safety, a Utah is Salt Lake Marriott Downtown mined. Location is UVU, 800 Instructure senior vice president man John Curtis, hosted by Safety Council event. Speaker is at City Creek, 75 S. West Temple, W. University Parkway, Science the U.S. Mexico Chamber of Natalie Kaddas, CEO of Kaddas Salt Lake City. Cost is $575 for Building, Room 134, Orem. Free. see CALENDAR page 13 12 • Nov. 19-25, 2018 • The Enterprise - Utah's Business Journal

Nature’s Sunshine Products from $178.8 million in the year- ible juice pack and expect to have income, and record operating cash EARNINGS manufactures and direct-sells earlier quarter. product in market ahead of the flows. Results for the quarter were from page 6 nutrition and personal care prod- Myriad Genetics discovers holiday selling season. That said, driven by our compliance busi- ucts. and commercializes molecular this is later than our most recent ness, with growth of both Tier 1 “These results were due to “We continued to enjoy diagnostic tests. expectations, which has put some and Tier 2 connections; contin- our continued focus on product positive sales trends in China, “Earnings during the quarter near-term pressure on our top line ued growth in high-quality Supply innovation and an accelerated Synergy Asia and Russia, Central exceeded expectations based upon and required us to reduce our full- Chain subscription revenue; and go-to-market strategy, support- and Eastern Europe,” Terrence strong hereditary cancer and new year revenue outlook. Looking a large year-over-year increase in ed by strong order fulfillment. Moorehead, CEO, said in announc- product volume growth,” Mark C. ahead, we remain confident about revenues from our MarketPlace … We expect the momentum of ing the results. “However, this Capone, president and CEO, said the longer-term growth prospects initiative.” our business to continue through growth was offset by declines in in announcing the results. “Late for ZAGG, and I am confident 2018, supported by key product NSP America and Synergy Europe in the quarter, we identified two that we have the right resources APX Group innovations across all of Black and Americas during the third issues that impacted revenue for and plans in place to successfully APX Group Holdings Inc., Diamond’s primary product cat- quarter, which contributed to the GeneSight and prenatal testing, capitalize on these opportunities.” based in Provo, reported a net egories, particularly within climb modest decline in consolidated net and as a result we have revised rev- loss of $120.2 million for the third and apparel, and executing a sales. enue guidance for fiscal 2019. We Franklin Covey quarter ended Sept. 30. That com- go-to-market strategy at Sierra “We remain pleased with the view these issues as transitory and Franklin Covey Co, based pares with a loss of $107.9 million focused on new product introduc- market development in China and given the progress on profitability, in Salt Lake City, reported net in the same quarter a year earlier. tions and consumer engagement.” sales momentum in Korea con- earnings guidance for the fiscal income of $1.8 million, or 13 cents Revenues in the most recent tinues to drive Synergy Asia. In year remains unchanged. per share, for the fiscal fourth quarter totaled $272.3 million, up Profire Energy NSP Americas, where our model “As we realize synergies quarter ended Aug. 31. That com- from $228.7 million in the year- Profire Energy Inc., based is more mature and grounded in from the Counsyl acquisition, con- pares with $4.7 million, or 33 cents earlier quarter. in Lindon, reported net income of retailing, sales moderation largely tinue to grow new product vol- per share, for the same quarter a “The Vivint model is build- $1.7 million, or 3 cents per share, reflects ongoing distributor attri- umes, and secure additional new year earlier. ing momentum as the number for the quarter ended Sept. 30. tion and the less-vibrant nutritional product coverage decisions, we Revenue in the most recent of consumers looking for a true That compares with $1.2 million, supplement retailing environment expect revenue growth and profit- quarter totaled $64.8 million, up smart home experience continues in the United States. Looking for- from $59.5 million in the year- or 3 cents per share, for the same ability to further accelerate.” to increase,” Todd Pedersen, CEO quarter a year earlier. ward, my initial priorities are to earlier quarter. of APX Group, said in announc- evaluate our opportunities to fur- For the full fiscal year, the Revenues in the most recent Overstock.com ing the results. “Our 2018 third ther build the business while driv- company reported a net loss of quarter new subscriber growth quarter totaled $10.8 million, up Overstock.com Inc., based ing profitable growth and share- $5.9 million, or 43 cents. That benefited from this trend as we from $9.4 million in the year- in Salt Lake City, reported a net earlier quarter. holder value.” compares with a loss of $7.2 mil- wrapped up the summer selling loss attributable to stockholders The company creates, lion, or 52 cents per share, for the season with a 19 percent year- or $47.9 million, or $1.55 per installs and services burner and Superior Drilling Products prior fiscal year. over-year growth in our direct- share, for the quarter ended Sept. chemical management solutions in Superior Drilling Products Revenue in the most recent to-home sales channel, and our 30. That compares with a loss of the oil and gas industry. Inc., based in Vernal, reported net fiscal year totaled $209.8 million, inside sales team maintained its $800,000, or 3 cents per share, for “Our strategic initiatives income of $225,000, or 1 cent per up from $185.3 million in the prior double-digit growth at 12 percent the same quarter a year earlier. over the past few years have posi- share, for the third quarter ended year. year over year. Revenue in the most recent tioned us well to achieve future Sept. 30. That compares with Franklin Covey offers con- “I feel particularly positive quarter totaled $440.6 million, up growth,” Ryan Oviatt, chief finan- $586,000, or 2 cents per share, for tent, training, processes and tools about these results, considering from $424 million in the year- cial officer, said in announcing the same quarter a year earlier. for organizations and individuals. we tightened underwriting cri- earlier quarter. the results. “Profire’s ability to Revenues in the most recent “We were very pleased with teria during the quarter, which respond quickly to customer quarter totaled $4.8 million, up Overstock.com is an online our strong finish to fiscal 2018, improves our unit of one econom- demands over the years has distin- from $4.4 million in the year- retailer and advancer of blockchain which met our key expectations ics, but creates a bit of a headwind guished Profire from its competi- earlier quarter. technology. and produced increased sales, sig- to sales velocity. We’ll continue tion. Our resources allow us to be Superior Drilling Products nificantly improved gross margins to push for balanced, profitable flexible in responding to customer designs, manufactures, repairs and ZAGG and improved operating results, growth and we’re optimistic the demand and market opportunities sells drilling tools. ZAGG Inc., based in Salt despite significant investments in progress we’ve made this year that will be beneficial to Profire.” “We made measurable prog- Lake City, reported net income personnel, systems and content,” and this quarter are moves in this “Profire increased revenues ress on several fronts this last of $14.6 million, or 51 cents per Bob Whitman, chairman and CEO, direction.” in the third quarter despite a quarter,” Troy Meier, chairman share, for the third quarter ended said in announcing the results. sequential slowdown in the indus- and CEO, said in announcing the Sept. 30. That compares with $9.8 Lipocine try,” said Brenton Hatch, president results. The company opened a million, or 34 cents per share, for Park City Group Lipocine Inc., based in Salt and CEO. “So far, this year is on facility in Texas, finalized a new the same quarter a year earlier. Park City Group Inc., based Lake City, reported a net loss track to be our most profitable distribution agreement with its Sales in the most recent quar- in Salt Lake City, reported net of $2.5 million, or 12 cents per year in company history and the exclusive U.S. distributor, engaged ter totaled $141.1 million, up from income of $966,000, or 4 cents per share, for the quarter ended Sept. second-best year in terms of rev- a servicing partner in the Middle $134.4 million in the year-earlier share, for the fiscal first quarter 30. That compares with a loss enue. Our core values and strate- East and expanded market chan- quarter. ended Sept. 30. That compares of $4.7 million, or 22 cents per gies involving cost management, nels there, and refinanced debt to ZAGG’s products include with $331.000, or 1 cent per share, share, for the same quarter a year and remaining debt-free, have recapitalize its balance sheet. screen protection, mobile key- for the same quarter a year earlier. earlier. allowed us to see great success “Our first nine months of boards, power management solu- Revenue in the most recent The company reported no throughout the industry recovery. 2018 have been very strong and, tions, social tech and personal quarter totaled $5.9 million, up revenues in the most recent quar- Our anticipated performance in while we expect that a typical audio sold under the ZAGG, from $4.7 million in the year- ter or year-earlier quarter. 2018 is providing a solid founda- seasonal slowdown combined with mophie, InvisibleShield, IFROGZ earlier quarter. Lipocine is a specialty phar- tion for additional investments in the finalization of channel partner and BRAVEN brands. Park City Group is the par- macy company. 2019 and beyond.” relationships will somewhat damp- “Our record third quarter ent company of ReposiTrak Inc., “We continue to believe there en the fourth quarter, we believe was highlighted by strong growth a compliance, supply chain and is a path forward for TLANDO Nature’s Sunshine Products this sets us up for a very strong in screen protection sales which e-commerce platform that partners and anticipate a resubmission of Nature’s Sunshine Products start in 2019,” Meier said. fueled meaningful gains in gross with retailers, wholesalers and our NDA for TLANDO in the first Inc., based in Lehi, reported net margin and operating profit,” Chris their suppliers to accelerate sales, half of 2019 based on results from income attributable to common Myriad Genetics Ahern, CEO, said in announcing control risk and improve supply ongoing clinical studies,” Dr. shareholders of $1.5 million, or 8 Myriad Genetics Inc., based the results. “We are also encour- chain efficiencies. Mahesh Patel, chairman, president cents per share, for the third quar- in Salt Lake City, reported a net aged by the performance of our “We began fiscal 2019 with and CEO, said in announcing the ter ended Sept. 30. That compares loss of $700,000, or 1 cent per wireless charging business, which strong momentum and continued results. “We are also excited about with $2.4 million, or 13 cents per share, for the fiscal first quarter continues to gain market share fol- growth across all areas of our busi- our new product candidate, LPCN share, for the same quarter a year ended Sept. 30. That compares lowing the launch of our mophie ness,” Randall K. Fields, chairman 1144, for NASH (non-alcoholic earlier. with net income of $78.8 million, wireless charge pad just 12 months and CEO of Park City Group, said steatohepatitis) and look forward Net sales in the most recent or $1.12 per share, for the same ago. in announcing the results. to receiving clinical trial results in quarter totaled $88.8 million, quarter a year earlier. “With respect to power cases, “Total revenues increased 26 the near term that will further sup- down from $89.3 million in the Revenues in the most recent we recently received certification percent in the first quarter, and port the use of an oral androgen year-earlier quarter. quarter totaled $202.8 million, up for mophie’s iPhone X compat- we delivered a near-tripling of net for this important indication.” The Enterprise - Utah's Business Journal • Nov. 19-25, 2018 • 13 Business Development Center Location is Salt Lake City Public Dec. 12, 9:30-11 a.m. Dec. 13, 8 a.m.-noon CALENDAR (SBDC) event. Location is the Library, 210 E. 400 S., Conference “Elevate Your Elevator “Advanced I-9 Practice,” from page 11 Orem SBDC, 815 W. 1250 S., Room E, Salt Lake City. Free. Pitch,” a Women’s Business an Employers Council event. Orem. Details are at https://utahs- Details are at https://www.sba. Center of Utah (WBCUtah) event. Location is the Employers of people and places, and Johnny bdc.org/trainings. gov/tools/events. Speaker Clancy Stone, business Council, Utah office, 175 W. Hanna, Homie CEO, will discuss advisor with the WBCUtah, will 200 S., Suite 2005, Salt Lake the organizational, cultural and Dec. 7, 8-10 a.m. Dec. 10-12 discuss the process of designing City. Cost is $130. Details are at leadership challenges to antici- First Friday Face-to- “Discover Global Markets: a successful pitch deck and exam- employerscouncil.org. pate as a business grows and Face, a West Jordan Chamber of Indo-Pacific,” a U.S. Department ining the value of delivering an how to manage through them. Commerce business-to-business of Commerce and Utah District impactful elevator pitch. Location Dec. 13, 6-8 p.m. Location is Instructure, 6330 S. networking event. Location is Export Council event bringing is the Women’s Business Center “Business Essentials,” 300 E., Salt Lake City. Free. the Megaplex Theatres at The together global leaders across the of Utah, 175 E. 400 S., Suite a Small Business Development Details are at siliconslopes.com. District, 3761 W. Parkway Plaza aerospace, defense and security 600, Salt Lake City. Cost is $15. Center (SBDC) event. Location Drive, South Jordan. Free. Details sectors. Location is Hilton Salt Details are at slchamber.com. is the Orem SBDC, 815 W. 1250 Dec. 6, 8 a.m.-2:30 p.m. are at http://firstfridaysnetwork- Lake City Center, 255 S. West S., Orem. Free. Details are at “Managing the Ill or ing.com/. Temple, Salt Lake City. Cost is https://utahsbdc.org/trainings. Injured Worker Under the Dec. 12, 11:30 a.m.-1 p.m. $395 through Nov. 26, $425 there- LinkedIn Luncheon ADA, FMLA and Workers’ , a Utah Dec. 7, 8:30-11:30 a.m. after. Details are at https://wtcu- Valley Chamber event featuring Dec. 13, 6:30-8 p.m. Compensation,” an Employers “Grow Your Business: tah.com/event/18211/. networking and a presentation by Small Business Evening Council event designed to guide Phase I,” a Small Business Devel- Kate Bowcut, the chamber’s busi- Roundtable, a SCORE event. employers through compliance opment Center (SBDC) event. Location is Sandy Library, 10100 Dec. 11, 11:30 a.m.-1 p.m. ness development executive, on issues involved in managing Location is the Orem SBDC, 815 S. Petunia Way, Sandy. Free. Holiday Soiree, a Sandy how to improve a LinkedIn pro- an employee with a medical W. 1250 S., Orem. Details are at Details are at https://www.sba. Area Chamber of Commerce file. Location to be announced. condition. Location is the https://utahsbdc.org/trainings. gov/tools/events. Employers Council, Utah office, Women in Business (WIB) event. Details are at thechamber.org. Location is La Caille, 9565 175 W. 200 S., Suite 2005, Salt Dec. 7, 11:30 a.m.-1 p.m. Lake City. Cost is $185. Details Wasatch Blvd., Sandy. Cost is Dec. 12, 3-5 p.m. Dec. 14, 7:45-9 a.m. Holiday Open House, Women in Business are at employerscouncil.org. $50. Details are at sandychamber. “Weed At Work,” a Utah a Sandy Area Chamber of Networking, an Ogden-Weber com. Technology Council event featur- Commerce event. Location Chamber of Commerce event. ing UTC members, HR profes- Dec. 6, 11:30 a.m.-1 p.m. is River Oaks Golf Course Location is Weber Center, 2380 Chamber White Elephant Clubhouse, 9300 Riverside Drive, Dec. 12, 8:30 a.m.-4:30 p.m. sionals and the Utah Employers Washington Blvd., Ogden. Free Utah Health Policy Pro- Christmas Gift Exchange Sandy. Free. Details are at san- Council discussing the legality for WIB members. Details are at ject (UHPP) 2018 Annual Luncheon, a Murray Area dychamber.com. and difficulties recognizing medi- ogdenweberchamber.com. Chamber of Commerce event. Conference, with the theme cal marijuana in the workplace. Location is 1730 E. Lakewood Dec. 7, 11:30 a.m.-1 p.m. “Health Care Solutions for Location to be determined. Free. Drive, Holladay. Luncheon open Utahns.” Event will include an Dec. 14, 8:30-11:30 a.m. WBN Christmas Lunch- Registration can be completed at “Grow Your Business: to nonmembers. Attendees are update on the healthcare land- eon, a Utah Valley Chamber Eventbrite.com. Phase II,” a Small Business asked to bring one white elephant scape in Utah; remarks from event featuring a silent auction, Development Center (SBDC) gift to exchange. Cost is $25 pre- with proceeds going to the WBN local leaders; and panels on top- Dec. 12, 5:30-7 p.m. event. Location is the Orem paid by Dec. 4, $35 thereafter and scholarship program. Location ics including Medicaid expansion, Women in Business Hol- SBDC, 815 W. 1250 S., Orem. at the door. Details are at mur- is Thanksgiving Point, Garden social determinants of health, and iday Gathering, a Murray Area Details are at https://utahsbdc. raychamber.org. Room, 3003 Thanksgiving Way, the future of healthcare and health Chamber of Commerce event. org/trainings. Lehi. Cost is $30 for members, policy in Utah. Location is the Speaker Yulia Stark of FAB Dec. 6, 11:30 a.m.-1 p.m. $35 for nonmembers. Details are Cultural Celebration Center, 1355 Academy will share her experi- Holiday Social, a West Dec. 14, 9-11 a.m. at thechamber.org. W. 3100 S., West Valley City. Cost ence with femininity and business. Industry Breakfast, a Jordan Chamber of Commerce is $30. Details are available by Location is Kimi’s Chop & Oyster Utah Technology Council event. event. Location is West Jordan Dec. 8, 9 a.m.-noon contacting Matthew Slonaker at House, 2155 Highland Drive, Salt City Hall, Community Room, “Simple Steps for Starting (801) 433-2299 or matt@health- Lake City. Details are at mur- 8000 S. Redwood Road, West see CALENDAR page 19 Your Business,” a SCORE event. policyproject.org. raychamber.org. Jordan. Free. Details are at west- jordanchamber.com.

Dec. 6, 11:30 a.m.-1 p.m. Strictly Networking Lunch- eon, a West Jordan Chamber of Escape. Commerce event. Location to be announced. Free (pay if ordering from the menu). Details are at westjordanchamber.com. Utah Residents: Exclusive Special Dec. 6, noon-1 p.m. “What to Do When Your Owned by a local Utah businessman, Key Employee Walks Out the Koloa Landing Resort is set on 21-acres of Door with Your Trade Secrets,” sun-drenched coastline on Kauai’s South Shore. a Parsons Behle & Latimer event. Attorney Erik Christiansen will Nestled in the heart of Poipu, Koloa Landing discuss how to guard against the is close to world-famous Poipu Beach and theft of trade secrets, how to ample restaurants and boutique shops. investigate a potential theft of The resort boasts the most luxurious trade secrets, how to uncover the accommodations on the island, electronic clues left by the thief, and current options and strate- a celebrity-chef-driven poolside grill, gies for suing to recover stolen serene day spa, and 3 incredible lagoon trade secrets. Location is Silicon pools, including a 350,000-gallon main Slopes, 2600 W. Executive pool dubbed by the LA Times as Parkway, Lehi. Free. Registration one of the best in all of Hawaii. can be completed at Eventbrite. com. Special Rates for Utahns, visit: AlohaUtah.com Dec. 6, 6-7:30 p.m. “Start Smart,” a Small 14 • Nov. 19-25, 2018 • The Enterprise - Utah's Business Journal Opinion They keep doing it: Another Republican capitulation on healthcare Republicans have established a clear or the purchasing of American-made drugs and more preventable deaths. then beyond, whenever the next Democratic pattern on healthcare. First, they rail against sold in foreign markets at lower prices. The White House correctly calls out government is in place, if not before. whatever big-government scheme Demo- Their reasoning was both simple and cor- foreign governments for their nonsensical None of this is to say that the status quo crats propose. Then, after a half-hearted and rect. Buying drugs that are cheaper only be- drug policies, which hurt their consumers is desirable. Where drug prices are most incompetent effort to convince cause foreign governments have even though, thanks to the United States, egregiously high, there’s inevitably some the public of the benefi ts of a mar- enacted price controls would bring they aren’t paying the full price of those bad government policy restricting competition. ket-oriented system, they aban- all the same downsides as directly policies. Unfortunately, the president’s idea And Medicare is not market-based in its don their principles and adopt the setting our own controls, namely of “confronting” them by mimicking their current construction. The answer, however, big-government idea as their own scarcity (shortages and waiting policies here at home leaves much to be de- is not to further manipulate the market and in order to win or hold power. lists) and reduced incentives to re- sired and will have negative and long-last- manipulate prices but to remove excessive The spectacle of Republican search and develop new drugs. ing consequences. burdens imposed on the healthcare sector candidates tripping over them- by misguided regulation and provisions that The U.S. market is large Medicare Part B covers drugs pur- selves to announce their commit- VERONIQUE shield drug manufacturers from competi- enough that foreign price controls chased and administered by physicians, ment to preserving requirements de RUGY tion. alone are not a major threat to re- so cancer drugs, vaccinations and the like for coverage of pre-existing con- Two days before the White House an- search and development. In other would all be affected. But the program isn’t ditions, a key component of the Affordable nounced its plan to import foreign prescrip- Care Act (Obamacare) and the mandate words, non-Americans freeload on Ameri- likely to stop there. The rules are being de- tion-drug socialism to the United States, its most responsible for making insurance un- can consumers who fund the bulk of new veloped by the Center for Medicare & Med- Council of Economic Advisers ironically affordable for average Americans, is one ex- drug development. But nothing can insulate icaid Innovation, another Obamacare cre- warned that “socialism is making a come- ample. non-Americans from the other problems of ation that Republicans have frequently back in American political discourse.” How The latest addition is the recent an- price controls, which is why newer lifesav- criticized. CMMI was created to facilitate right they are! nouncement of the Trump administration ing drugs are less available in countries like government experimentation with different that it would base Medicare Part B reim- France and the United Kingdom. And the healthcare payment models, with the ulti- Veronique de Rugy is a senior research fel- bursements on what other countries pay for United States, alas, has no other market on mate goal of spreading them across the en- low at the Mercatus Center at George Ma- those drugs. which to freeload. If we destroy the most in- tire market. Once controls are in place, it’s son University in Fairfax, Virginia. For years, most Republicans opposed novative drug market in the world, then it all but inevitable that they will be expand- what was referred to as drug re-importation, simply means there will be less innovation ed to cover all drugs under Medicare and COPYRIGHT 2018 CREATORS.COM

Is this current wave of nationalism taking the world back to the 1920s? When confronting bad news these days, lieve so. In a recent interview, French Pres. Today’s trends are all connected. Eco- even reverse, the arc of history. Snyder de- many tend to assume that it’s just a bump on Emmanuel Macron explained, “In a Europe nomic growth, globalization and technolo- scribes how Putin did just that in Ukraine, the road and that things will work out. Presi- that is divided by fears, nationalist asser- gy have given rise to new centers of pow- refusing to accept that it was inevitably dent Obama was fond of invoking Martin tion and the consequences of the econom- er, within nations and in the world at large. joining hands with the West, and launching Luther King’s assertion that “the ic crisis, we see almost methodically the This is an age of big winners and big losers. a relentless series of moves that have dis- re-articulation of everything that arc of the moral universe is long The pace of change makes people anxious membered Ukraine and mired it in a seem- dominated the life of Europe from but it bends towards justice.” Yet that their countries and cultures are chang- ingly endless internal confl ict. could we be wrong in assuming post-World War I to the 1929 [eco- ing — throughout the world. And they fi nd Putin may not win. The efforts of peo- that, in spite of some backslid- nomic] crisis.” And in an address comfort in strongmen who promise to pro- ple like him to reverse the progress of the ing here and there, forward move- earlier this year to the European tect them. past might not win. But it will take more ment is inexorable? Parliament, Macron said, “I don’t The historian Timothy Snyder makes effort from those on the other side. Things On Sunday, Nov. 11 — at want to belong to a generation of a distinction in his new book The Road to are not simply going to work themselves the 11th hour of the 11th day of FAREED sleepwalkers that has forgotten its Unfreedom between what he calls “the pol- the 11th month — we commem- ZAKARIA own past.” As historian Christo- itics of inevitability” — the sanguine faith out while we watch. History is not a Hol- The orateD the end of the largest and pher Clark wrote in his book that it’s all going to work out — and “the lywood movie. Sleepwalkers, the statesmen of bloodiest confl ict the world had ever seen. politics of eternity.” The latter is the view, 1914 stumbled into a gruesome world war Fareed Zakaria’s email address is com- World War I marked a turning point in hu- held by leaders like Vladimir Putin, that without ever realizing the magnitude or [email protected]. man history — the end of four massive Eu- nothing is inevitable, that through force, dangers of their isolated, incremental deci- ropean empires, the rise of Soviet commu- cunning, strength and will, you can bend, (c) 2018, Washington Post Writers Group sions — or non-decisions. So, Macron is not nism and the entry of the United States into simply talking; he organized a Paris Peace global power politics. But perhaps its most Forum of more than 60 world leaders that signifi cant intellectual legacy was the end of began last week to try to combat the dangers the idea of inevitable progress. of rising nationalism and eroding global co- In 1914, before the war began, people operation. had lived through a world much like ours, Are these dangers so real and pressing? defi ned by heady economic growth, techno- If you compare the world today, it does feel logical revolutions and increasing global- less like the 1930s than the 1920s. Economic ization. The result was that it was widely growth and technological progress were ac- believed that ugly trend lines, when they ap- celerating then, as now. We are also seeing peared, were temporary, to be overwhelmed a surge in nationalism and the breakdown by the onward march of progress. In 1909, of cooperation, which were hallmarks of the Norman Angell wrote a book explaining 1920s. New great powers were ascending, that war between the major powers was now as they are now. Democracies were under so costly as to be unimaginable. The Great strain from demagogues, such as in Italy, Illusion became an international best-seller where Mussolini destroyed liberal institu- and Angell became a cult celebrity (and was tions and established control. And amidst all later awarded the Nobel Peace Prize). Just a this was the growth of populism, racism and few years after the book came out, a genera- anti-Semitism, which were used to divide tion of Europeans was destroyed in the car- countries and exclude various minorities as nage of war. outside of the “real nation.” Of course, be- Could we be similarly complacent to- cause of the pressures of the 1920s, we got day? There are serious statesmen who be- the 1930s. The Enterprise - Utah's Business Journal • Nov. 19-25, 2018 • 15 Opinion They once were the people who would handle money, now they’re being shot It broke my heart recently watching from the lobby, possibly 20 to 30 shots.” friend of mine and I often partake of lunch at tled “Most Voters Say the Press Has Divided NPR’s profi ling of the victims of the Tree And fi nally, “All these Jews need to a local Jewish delicatessen. While there, he the Country More Than Trump,” which notes of Life Synagogue shootings in Pittsburgh. I die,” said Robert Bowers, the shooter. is constantly saying hello to his Jewish ac- that “ 64 percent of voters say the press has have never seen a group of 11 people with As my wife and I were crossing Nevada quaintances and, without fail, the owner will done more to divide, compared to 36 percent such outstanding backgrounds and kinder after visiting my grandson’s sushi restaurant come over and tell us Jewish jokes. who said the same about Trump.” faces. in San Francisco, I asked her, “Why is there The United States is not the only place The most egregious act of anti-Semitism Since the shooting I have been so much hatred of Jews?” She re- where Jews are being killed. According to during my lifetime was in Nazi Germany trying to read everything I can plied, “The Jews were the only an article in The Atlantic called “Is It Time during World War II. Hitler and his cronies about what happened and why it people that the Christians would for Jews to leave Europe?” in 2015, “In 2014 exterminated 6 million Jews and it all began happened. To me, it’s very impor- allow to handle money because it Jews in Europe were killed, murdered, raped, in Vienna. Hitler tried to become an artist in tant that we all understand why this was unclean.” beaten, stalked, chased, harassed, spat on and Vienna and was exposed to many anti-Semit- horrifi c event happened in order to What Christians failed to insulted for being Jewish.” ic politicians and newspapers. The defeat of prevent it from happening again. recognize was that by having the And don’t forget what is going on in the Germany in World War I had a great effect One article I read in The Wall Jews handle money, they were Israel. The Palestinians are killing Jews left on Hitler and like others, he blamed the de- ROBERT Street Journal that was titled “In- PEMBROKE creating a small population that and right. In fact, the whole Middle East has, feat on socialists, communists and Jews. If side the Synagogue as Shots Rang” would handle all fi nancial trans- for centuries, been killing Jews. you read Hitler’s Mein Kampf, you will fi nd detailed what happened to the sur- actions, thus creating a privileged It was sad to see the press blame Pres. many anti-Jewish passages. vivors and police during the shootings. group that would be envied by many. Han- Trump for the Pittsburgh shooting. Mind So, what should we do? We must never “He’s got an automatic weapon. He’s fi r- dling money also allowed the Jews to edu- you, I am upset, as many of you are, by the forget the Holocaust and what happened at ing out in front of the synagogue,” said a po- cate their children and live in the cities. way Trump is constantly lashing out at peo- the Tree of Life Synagogue and continue to lice offi cer. Through the ages, Jews have prospered ple and organizations. But in order to draw keep reminding people that anti-Semitism is “I’ve never heard a sound like that be- because of their work ethics, their superior attention to Trump by using the Tree of Life not to be tolerated. fore,” said Carol Black, a survivor. education, their honesty and their banding tragedy, the media is adding fuel to the fi re. “They are being attacked,” said a po- together in a community. Salt Lake City has I just read an article on the website National Robert Pembroke is the former chairman and lice dispatcher. “Multiple gunshots are heard an outstanding Jewish community. A Jewish Media Research, Planning and Placement ti- CEO of Pembroke’s Inc. in Salt Lake City.

help improve the service we of- products in the U.S., Canada, Aus- tor in its product category, and its are as an agency,” Steve Williams, INCENTIVES fer to our members while ensuring tralia, New Zealand, Asia, Brazil commitment to keeping jobs in the CEO of North America for Es- from page 1 business continuity.” and Europe. U.S. is commendable. We’re glad sence, said in a prepared statement. “LendingClub is passionate “They have approximately they’re continuing to call Utah “We’re excited to offer current and in a $17.85 million project at about helping people become more 220 employees currently at their home.” prospective employees the oppor- Thanksgiving Station in Lehi. It fi nancially healthy, and I think facility here in Utah,” Wadsworth Ben Hart, GOED’s deputy di- tunity to contribute to a fl ourishing was approved for a tax credit of up that’s something that should be said. “They have another facili- rector, said the competition from tech community while maintaining to $4.48 million over 10 years. The important to all of us as American ty in Arizona that has some exist- Arizona for the project “is actual- a positive quality of life.” new jobs are projected to pay an citizens today. I think we’ve got a ing space that they were looking ly fi ercer than what people would The project is expected to re- average of $67,000 a year. fi nancial health crisis in America at expansion into, and we wanted think. Even to keep some of our sult in new total wages of $22.4 “The jobs are high-paying,” today,” Steve Allocca, Lending- to make sure we kept them here in companies here and to make sure million over fi ve years and new Utah and Salt Lake County.” said Thomas Wadsworth, GOED’s Club president, told the GOED they are expanding in the state state tax revenues of $1.9 million The $20 million headquarters business development and corpo- board. of Utah, we’re just seeing an in- during that time. The average wage expansion is expected to result in rate incentives manager. “They’re Most Americans, he said, creased level of aggression from is projected at $61,000 a year. The new total wages of nearly $35.8 in this sweet spot of the [industry] don’t have even $400 saved to cov- some of our surrounding states. GOED-approved tax credit incen- million and new state tax revenues clusters that we have here in Utah, er an emergency expense. “I think “So, when we talk about tive is up to $191,688. of $2.2 million during that time. between our fi nancial services and one of the big reasons for that is the importance of incentives and “Essence is a globally con- The average wage is expected to our IT clusters that we have here.” that we as Americans simply have staying competitive and making nected company with nationally be $79,000. The Lehi project will be the too much high-interest-rate cred- sure that we keep our great home- known clients,” Hale said. “Their it card debt that prevents us from “As we expand our global dis- grown brands here, this is just a culture will be a nice addition to company’s fi rst major expansion tribution, we’re proud to contin- saving more money.” great example of why we need to our Silicon Slopes community and outside of its headquarters in San ue to manufacture 100 percent of The project is expected to re- stay aggressive and to keep our Salt Lake City. We welcome them Francisco, where the company has our products in Utah,” Jerry Pas- sult in new wages of up to $543.9 foot on the pedal.” in opening their 19th global offi ce 2,000 employees. ley, CEO, said in a prepared state- million over 10 years and new state “Some critics say, ‘Why do in our great state.” Launched in 2006, the pub- ment. “We believe in the sustain- tax revenues of more than $22.5 we need an incentive? They’re “Essence Global has grown licly traded company aims to ability of the Utah manufacturing million during that period. going to stay here anyway,’” said dramatically over the past few make credit more affordable and environment and we’re grateful “Utah’s fi nancial-tech indus- Mel Lavitt, chairman of the GOED years, and we’re excited the com- investing more rewarding. Its on- for programs like the Governor’s line credit marketplace connects try continues to grow, and having a Offi ce of Economic Develop- board’s incentives committee. pany has added Utah to its impres- borrowers and investors to deliver leader like LendingClub enter our ment that help organizations like “And sometimes they’re right … sive list of locations,” Foxley said. more effi cient and affordable ac- market will continue to strength- ours to grow even deeper roots in but most of the time it probably “There’s a lot of innovation going cess to credit, and the company en the industry,” said Val Hale, a community that we love and are isn’t, and we can’t afford to play on at the intersection of marketing claims to be the top provider of GOED executive director. “They pleased to call home.” Russian roulette.” and tech, and we look forward to unsecured personal loans in the have ambitious plans and will ben- “Bullfrog Spas is a locally Essense Global, a digital ad- seeing Essence’s contributions in U.S. All loans are made by feder- efi t from the growing technical tal- grown company that has quickly vertising services agency and part that space fi rsthand.” ally regulated issuing bank part- ent and great work culture in the become one of the largest manu- of GroupM, will open a regional Salt Lake City Mayor Jackie ners. LendingClub fi led for an IPO state.” facturers for hot tubs globally and offi ce in Salt Lake City, creating Biskupski said Essence has “such in 2014 after receiving signifi cant Bullfrog Spas LLC, based has a presence in 22 countries,” up to 125 jobs in the $3.1 million an elite global footprint and focus venture capital funding. in Bluffdale, will add up to 150 Hale said. “They are committed to project. on culture.” “As we continue our growth jobs as it expands its headquarters the community and impact Utah’s Founded in 2005 and based in “Our economic development and increase our focus on operat- in Salt Lake County, tied to a tax manufacturing industry.” New York City, Essence has more team has worked with Essence ing effi ciency and resiliency, it is credit incentive of up to $334,633 “More hot tubs in Utah? Of than 1,600 employees worldwide. alongside our local partners since clearly time for us to expand be- over fi ve years. The company also course, we’re thrilled Bullfrog Its clients include Google, Google, this opportunity was fi rst brought yond our San Francisco headquar- will add 200 manufacturing jobs Spas is expanding here,” Theresa Flipkart, Nando’s and the Finan- to our attention, and I am confi dent ters,” Scott Sanborn, LendingClub not tied to the incentive. Foxley, president and CEO of the cial Times. that Essence will continue to see CEO, said in a prepared statement. Founded in 1996, Bullfrog Economic Development Corpo- “Salt Lake City and Essence the unparalleled customer service “Having a second site in the great Spas designs, manufactures and ration of Utah, said in a prepared share a similar commitment to cul- and economic advantage of being state of Utah, with access to the re- markets hot tubs and outdoor spas. statement. “On a serious note, ture and innovation — two quali- in Utah’s capital city,” Biskupski gion’s tremendous talent pool, will It distributes, licenses and retails Bullfrog is an impressive innova- ties that are signifi cant to who we said. 16 • Nov. 19-25, 2018 • The Enterprise - Utah's Business Journal Track grants for three companies. districts. The new site features in 2016, she was quickly pro- FICO to launch UltraFICO, a BRIEFS Liquid Herbals Manufacturing, 2,500 square feet of space and moted to branch manager. Silva new credit score that incorporates of Vernal in Uintah County, was enough room to expand from six began her career with Spherion consumer-permissioned, alterna- from page 9 endorsed for a $50,000 grant styling stations to 10. The com- in Utah Valley as an on-site man- tive data into the decisioning mix. to help the company purchase pany plans to add approximately ager in 2000. The new score, called UltraFICO and $10,000 was Harvest Lane an automated bottle filler and 20 jobs over the next eight to 10 Score, leverages account aggre- Honey. Finishing in second place capper. The $190,650 project is years. Salt Lake City is the first TECHNOLOGY/LIFE gation technology and distribu- and winning $7,500 was Dark expected to create six new full- city in Utah to receive a Main SCIENCES tion capability from Experian Energy. The third-place winner time positions. Iron Worx LLC, Street America designation and • Recursion Pharma- and Finicity to help consumers ($2,500) was Emissions-Based of Naples in Uintah County, was chose two neighborhoods for the ceuticals, a Salt Lake City-based improve access to credit by tap- Maintenance (EBM). endorsed for a $50,000 grant to program: the Granary District, biotechnology company, has ping into consumer-contributed help the company purchase sever- near 800 South and 300 West, announced a $1.6 million Phase data, such as checking, savings RETAIL al pieces of equipment, including and State Street between 600 and 2 Small Business Innovation and money market account data, • Eyemart Express, based welders, a press, a grinder and a 1000 South. The Cake Hair Salon Research grant award from the that reflects responsible finan- in Texas, has opened a store CNC plasma table. The $132,000 is the first business to participate National Institutes of Health via cial management activity. With at 1475 Main St., Logan. The project is expected to result in under the State Street designa- the National Institute on Aging. UltraFICO Score, a consumer 3,386-square-foot store is the three new full-time positions. tion. It follows the completion of mile- grants permission to contribute company’s first location in Utah Kurry Jensen Transport LLC, • Spherion Staffing, a stones set in the Phase 1 grant of information from banking state- and brings approximately eight of Cleveland in Emery County, Taylorsville-based recruiting, $223,000 awarded in 2016. Both ments, including the length of new jobs. Eyemart Express offers was endorsed for a $25,000 grant staffing and workforce solu- grants focus on cellular senes- time accounts have been open, prescription eyeglasses and sun- to help the company purchase a tions company, has named Angie cence, whereby individual cells frequency of activity and evi- glasses. It has 189 stores in 36 new truck/tractor. The $145,000 Johnson as branch manager for no longer divide or undergo cell dence of saving, which can be states. project is expected to result in Taylorsville death. Research in animal mod- electronically read by Finicity • U-Haul Company of two new full-time positions. All and promoted els has demonstrated that a pro- and combined with consumer Utah Inc., Salt Lake City, has three grants had been approved by Vicki Silva to gressive build-up of senescent credit information from Experian announced that Towne Storage the Governor’s Rural Partnership Utah Valley cells — as happens with age and to provide an enhanced view of Urban Edge, 350 W. Aspen Ave., Board. director for disease burden — can negatively positive financial behavior. The Salt Lake City, has signed on as a the Spherion impact tissue function and foster three companies estimate this U-Haul neighborhood dealer. It SERVICES Utah offic- inflammation. new score has the potential to will offer U-Haul trucks, towing • Cake Hair Salon has es. Johnson • TazWorks, a Salt Lake improve credit access for the equipment, moving supplies and moved from its location at 210 Angie Johnson brings6 over 10 City-based company involved in majority of Americans and is par- in-store pick-up for boxes. Towne E. 500 S., Salt Lake City, where years of experi- technology solutions and busi- ticularly relevant for those who Storage Urban Edge partners are it had been for 11 years, to a new ence in recruit- ness strategies for the background fall in the gray area in terms of Victor and Justin Kimball. building at 1010 S. State St., Salt ing knowledge screening industry, has hired credit scores (scores in the upper Lake City. The new site is an and account Maricela Cazares as product 500s to lower 600s) or fall just RURAL UTAH area designated for redevelop- and client manager. Cazares most recently below a lender’s score cut-off. • The Governor’s Office ment through the Main Street management spent 16 years with Imperative The UltraFICO Score will launch of Economic Development America program, a national to Spherion Information Group. as a pilot program in early 2019 (GOED) board, at its November nonprofit program with a track of Utah. After • Finicity, based in Murray, and is scheduled to be broadly meeting, endorsed Rural Fast record of revitalizing business Vicki Silva joining the team has partnered with Experian and available to lenders in mid-2019. The Enterprise - Utah's Business Journal • Nov. 19-25, 2018 • 17 18 • Nov. 19-25, 2018 • The Enterprise - Utah's Business Journal CLASSIFIED CAREERS

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