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              SOLSTICE 
            
        
        
        
        
         
        
As the sun and moon renew themselves and 
we 
honor the closing of circles.
 Once again we learn, that even in the darkest 
moments.
 Health, serenity, and healing are available.
 
 Bless our connections with the ancients. 
 Bless our connections with each other. 
 Bless our connections with future generations.
 Bless our connections with the circles of the 
seasons.
  Bless our connections with places of beauty and 
solitude.
 
 Celebration is at hand. 
 Celebrating the renewal of bonds of kinship. 
 Celebrating the renewal of bonds of friendship.  
 Celebrating those who have touched our lives.
 Celebrating the return of the sun and longer days. 
 
 Rejoice
 PEACE - GOOD YULE
 
Adapted from old Danish and Celtic Solstice 
Poems  
        
            
             Utah Labor Market Indicators - Nov 2007 
(Oct 07)
- Employment Growth: 4.0% (4.3%)
 - Employment Increase: 48,900 (52,500)
 - Unemployment Rate: 2.8% (2.7%)
 
 Source: 
Utah Dept of Workforce Services, 12/18/07 
  
U.S. Labor Market Indicators - Nov 2007 
(Oct 07)
- Employment Growth: 1.0% (1.2%)
 - Unemployment Rate: 4.7% (4.7%)
  
Source: Utah Dept of Workforce Services, 12/18/07
   
Where Are the New Jobs? - Nov 
2007
- State Total (Market Share)  48,795 +4.0%
 - Salt Lake County (46.4%)  22,663 +3.8%
 - Utah County (19.8%)  9,640 +5.2% 
 - Washington County  (5.7%)  2,786 +5.3%
 - Weber County  (5.5%)  2,692 +2.8% 
 - Davis County  (5.0%)  2,446 +2.4%
 - Summit County  (3.6%)  1,764 +8.7% 
 - Uintah County  (2.2%)  1,054 +7.6%
 - Box Elder County  (2.1%)  1,045 +5.3% 
 - Cache County  (2.1%)  1,003 +2.0%
 - Tooele County  (2.0%)  990 +6.6% 
 - Duchesne County  (1.5%)  717 +10.3% 
 
 Source: Utah Dept of Workforce Services, 
12/18/07   
What are our new Jobs? - Nov
2007
- State Total  48,795 +4.0%
 - Specialty Trade Contractors  6,500 +9.5%
 - Health Services and Social Assistance  4,000 
+3.7% 
 - Accommodation and Food Services  4,000 +4.4%
 - Finance and Insurance  2,800 +5.1%
 - Professional, Scientific, and Technical Services  
2,700 +4.2%
 - Administration & Support & Waste Mgm't & 
Remediation  2,000 +2.5%
 - Transportation & Warehousing  1,500 +12.7% 
 - Ambulatory Health Care Services  1,500 +3.4% 
 - Architectural, Engineering & Related  1,500 
+12.7% 
 - Heavy and Civil Engineering  1,400  +14.1% 
 - computer and Electronic Products  1,300 +10.4% 
  
Source: Utah Dept of Workforce Services, 12/18/07
   
Where are we losing new jobs? - Nov
2007
- Business Support Services  (700) -4.1%
 - Motion Picture and Sound Recording (500) -10.9% 
 - Internet Service Providers (400) -4.1% 
  
Source: Utah Dept of Workforce Services, 12/18/07
   
            
        
            
            General Growth Properties expects to complete its 
Americana at Brand lifestyle center in Los Angeles 
this spring. The center, which features luxury 
condominiums, retail, a movie theater and public park, 
is across the street from General Growth's Glendale 
Galleria regional mall.
             
        
            
             Urban Revitalization - Creating a catalyst for 
downtown redevelopment Par II
Plan for the best 
 - Sadly, many of America's urban areas have "died 
on the vine", and city and business leaders are now 
faced with the tremendous task of revitalizing these 
downtown cores. In fact, 62 percent of all major city 
population growth in the 1990s occurred along 
suburban borders, compared to just 11 percent in city 
cores, according to a report from the Brookings 
Institution's Center on Urban and Metropolitan Policy. 
 - A lack of investment in the downtown cores 
contributed to the decline and now cities across the 
nation are trying to figure out how they can take their 
urban centers from vacant to vibrant. Experts suggest 
three main strategies: create an organization to bring 
together business leaders and city officials; design a 
masterplan to encourage investment; and develop a 
way to leverage any special attractions in the 
downtown core. 
 - Consider Phoenix, Ariz. - in the late 1980s, the 
city's core was in "dire straights," according to Don 
Keuth, president of the Phoenix Community Alliance, a 
non-profit organization that is focused on center city 
redevelopment. "Our downtown was really a no man's 
land," he recalls. "We didn't have any kind of well-
funded community organization or governmental entity 
that stepped up to take ownership." 
 - That's when several community leaders decided 
to create an organization that would be funded by 
member dues and whose goal was to foster and 
promote redevelopment of Phoenix's urban core. Thus 
the Phoenix Community Alliance was born. 
 - "Our first step was to assess how bad the 
situation was," Keuth recalls, adding that the 
organization partnered with the Arizona chapter of the 
American Institute of Architects to craft a new 
masterplan for the multi-block area known as the 
Capitol District. Along with all of the state government 
buildings, Phoenix's Capitol District also houses most 
of the city's human services organizations. 
 - As part of the revitalization, Phoenix Community 
Alliance created a program for the development of 
three new state office buildings and partnered with 
Maricopa County to develop a $22 million human 
services campus that consolidates all the social 
service agencies that were spread out over a five-
block area. The cornerstone of the campus is the Day 
Resource Center that houses about 20 agencies that 
provide a variety of social services including housing 
assistance, job training and medical care. 
 - These revitalization efforts have encouraged 
private sector development including the $46 million 
headquarters facility for Translational Genomics 
Research Institute (TGen), a private, non-profit 
research institute and the International Genomics 
Consortium (IGC), a private, non-profit medical 
research foundation that employs 450 people. 
 - Like Phoenix, the City of Spokane also created an 
organization to lead its urban revitalization. The 
organization, dubbed the Downtown Spokane 
Partnership, was formed 12 years ago. Its first step 
toward revitalization was the creation of the business 
improvement district, which is comprised of 1,800 
businesses and property owners. 
 - The Downtown Spokane Partnership is funded by 
annual assessment fees and its main function is the 
management of the business improvement district, 
according to Marty Dickinson, president of Downtown 
Spokane Partnership. The business improvement 
district keeps the downtown area clean and safe and 
it also advocates smart development through its 
downtown masterplan. 
 - Since the inception of the Downtown Spokane 
Partnership and the business improvement district, 
Spokane's urban core has been completely 
transformed. For example, the city's turn-of-the-century 
Davenport Hotel was renovated and reopened after 
years of neglect, and its historic Fox Theater just had 
its grand re-opening last month. 
 - "We have learned that if you can make your 
downtown a clean, safe and inviting place for 
residents and visitors, it breeds more revitalization," 
Dickinson adds. 
   
Next Week: Making something special
             
        
        
        
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        Greetings!
        
             
             Good Yule
 Utah Employment
 National Employment
- Where are the new jobs?
 - What are new 
jobs?
  
The Ten Things Everyone Should Know About 
Science, Pt IV
 Bob Springmeyer
 Bonneville Research
             
        
         
        
        
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        | The Ten Things Everyone Should Know About Science Part IV | 
     
    
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              The Ten Things Everyone Should Know 
About Science Part III
- You may be able to quote Shakespeare, but what 
are you like on Big Bang theory? 
 - The Financial 
Times gives non-scientifically minded readers a leg 
up the tree of knowledge. 
  
 The Ten Things Everyone Should Know 
About Science Part IV
- You may be able to quote Shakespeare, but what 
are you like on Big Bang theory? 
 - The Financial 
Times gives non-scientifically minded readers a leg 
up the tree of knowledge. 
  
Quantum mechanics
- Quantum mechanics grew up alongside relativity 
in the early 20th century.
 - If anything, quantum mechanics is even more far-
reaching than relativity - and even harder to explain. 
Two mutually contradictory quotes from famous 
physicists sum up its weirdness and complexity. Niels 
Bohr: ''If quantum mechanics hasn't profoundly 
shocked you, you haven't understood it.''
 - Richard Feynman: ''I think I can safely say that 
nobody understands quantum mechanics.''
 - Whereas the effects of relativity are felt mainly on 
the grand scale studied by astronomers and 
cosmologists, quantum mechanics is most important 
when things are extremely small. The first key idea in 
quantum theory is that energy and matter are not 
continuous but come in small, discrete packets: 
quanta.
 - The second is ''wave-particle duality'': all 
subatomic particles can be regarded as waves as 
well as particles. Light itself is both a stream of 
particles - photons - and a series of waves.
 - The most famous consequence of wave-particle 
duality is the ''uncertainty principle'' originally 
formulated by Werner Heisenberg in 1927, which puts 
a limit on how much we can know about a quantum 
object. It is impossible to measure precisely and 
simultaneously a particle's position and momentum; 
the best we can do is define the statistical probability 
of where a particle such as an electron is likely to be.
What's next? 
 - Quantum effects are important in electronics and 
nanotechnology - and they will become far more 
important as miniaturisation proceeds.
Future developments? 
 - The most important application in the medium-
term future - say, 30 years from now - may be 
quantum computing; this would use quantum effects 
to produce computers far more powerful than today's 
silicon-based systems.
 - A much more distant practical prospect is 
teleportation - instantly transferring matter from one 
place to another without having to travel through 
conventional time and space.
 Fear factor: sweat and tears  
What's next? - Radiation
Source: Financial Times, London, 2007
  
            
        
        
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        | Utah Economic Snapshot - First Five Months | 
     
    
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Utah State Government	
	
- Sales and Use Taxes (Gen Gov't)	
-1.9%	(+1.2%)  
 - Individual Income Taxes (Education)	
+5.6%	(+8.1%)  
 - Individual Income Tax Withholding (Education)
	
+7.4%	(+10.9%)  
 - Corporate Franchise Taxes (Gen Gov't)
-6.7%	(-11.7%)  
 - Motor Fuel Taxes (Transportation)	
+1.6%	(+1.3%) 
 - Severance Taxes (Gen Gov't)	
-2.4%	(-10.7%)   
 - Wine and Liquor Taxes (Education)	
+11.7%	(-49.4%)	
  
Source: Utah State Tax Commission, TC-23 
12/21/07
   
Economic Snapshot - First Five Months (4 
mos)
FY2008	
Local Government
- Transient Room Tax +41.3%	
 - Tourism, Recreation, Cultural, Convention
+10.1%	(+23.2%)  
 - Municipal Telecommunications License
+21.6%
 - Emergency Services Phone Charge +12.3%
 - Public Transit +40.2% (+44.0%)
  
Source: Utah State Tax Commission, TC-23 
12/21/07
   
             
        
        
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        | Economic Notes: | 
     
    
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             - Global Business Confidence
 -  Global business sentiment is very weak and 
fragile. This is particularly true in the U.S. where 
confidence slumped last week to its lowest level in the 
five years of this survey, and where it is now 
consistent with a contracting economy. Expectations 
regarding the outlook through mid-2008 are 
particularly bleak, and responses regarding sales 
strength, inventory investment, and office space are 
also soft. Confidence is stronger outside the U.S., but 
it has notably weakened across the globe during the 
past month. While pricing pressures have risen with 
oil prices near $100 per barrel, they remain notably 
muted compared to the pressures that prevailed 
during previous oil price spurts.
  
- GDP
 -  GDP growth in the third quarter saw no revision, 
remaining at 4.9% in the final report. This was equal 
to the consensus estimate. There was a small 
upward revision to consumer spending, offset by a 
small downward revision to investment in inventories. 
Profits fell slightly in the third quarter. GDP growth in 
the third quarter was very strong, but current growth is 
much weaker, due to the ongoing collapse in housing 
and tighter credit conditions. 
  
- Treasury International Capital Flows
 - Net long-term TIC flows climbed sharply to $114 
billion in October from only $15.4 billion the previous 
month. 
  
- U.S. Treasury Current Account
 -  The U.S. current account deficit narrowed by 5.5% 
to $178.5 billion in the third quarter of 2007, from 
$188.9 billion in the previous quarter. The consensus 
expected the deficit to narrow to $183.6 billion. The 
balance on goods and services narrowed by 3.0% to 
$173.2 billion in the third quarter of 2007, from $178.4 
billion in the previous quarter.
  
- Risk of Recession
 - With the global financial system unsettled, the 
housing correction intensifying and business and 
consumer sentiment very fragile, the risk of recession 
has increased appreciably since this summer's 
subprime financial shock. In November, the Moody's 
Economy.com probability of recession increased to 
52%, up from October's downwardly revised 44% 
(previously 47%) and its highest since 2001. With 
risks rising, additional Fed easing is needed to keep 
the economy from falling into a recession. 
  
- State Personal Income
 - U.S. personal income growth accelerated to 1.4% 
in the third quarter following an increase of 0.9% in the 
second quarter. In all but 11 states, income growth 
either was unchanged or accelerated from the second 
quarter. Healthcare, professional/business services 
and state/local government contributed the most to 
third quarter income growth among industries. 
Income declined in the construction and real estate 
industries, having a disproportionate impact in 
Arizona, California, Florida and Nevada.
  
- Initial Jobless Claims
 - Initial jobless claims jumped above expectations 
this week, increasing by 12,000 up to 346,000. Recent 
trends in initial claims have been pointing to further 
weakening in labor markets.
  
- NAHB Housing Market Index
 - Homebuilder optimism remained unchanged at 
19 in December for the third straight month. While this 
is a drop of 17 points total since March, the fact that 
the index is not falling further offers some hope of 
stabilization. Optimism for future traffic decreased 
from 17 to 14, while the homebuilders' perspective on 
the next six months increased two points.
  
-  New Residential Construction (C20) 
 -  Housing starts decreased 3.7% to 1.187 million 
units in November, less than Moody's Economy.com 
had expected. Housing permits decreased 1.5% 
during the month. Expect the market to remain soft 
throughout the year, even with the FOMC lowering the 
fed funds rate target by another 25 basis points. 
  
- MBA Mortgage Applications Survey
 - Mortgage demand decreased 19.5% in the week 
ending December 14. Purchase applications 
decreased 10.6% and refinance applications 
decreased 27.3%. Application activity took a dramatic 
turn for the worse last week, after two weeks of 
relatively strong increases.
  
- Chain Store Sales
 -  Chain store sales jumped 1.4% in the week 
ending December 15, but year-over-year growth 
slipped to 2.1%, as comparisons were again difficult. 
The ICSC reported that consumers continue to delay 
their purchases relative to recent holiday seasons. 
  
- Oil and Gas Inventories
 - Crude oil inventories fell by 7.6 million barrels for 
the week ending December 14, according to the 
Energy Information Administration, well below 
expectations of a 1.5 million barrel draw. Distillate 
supplies fell by 2.1 million barrels, below expectations 
of a 0.5 million barrel build. Gasoline supplies rose by 
3.0 million barrels, above expectations of a 0.8 million 
barrel build. Refinery capacity utilization fell by 1.0 
percentage point to 87.8%, below expectations. 
Today's report will bring higher oil prices.
  
- Weekly Natural Gas Storage Report
 -  Underground storage of natural gas decreased by 
121 billion cubic feet during the week ending 
December 14. Forecasts called for a draw of 133 
billion cubic feet. Since this week's report shows a 
smaller-than-expected draw, it will have a bearish 
impact on prices. 
  
Source: Economy.com 2007
             
        
        
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        | BONNEVILLE RESEARCH - Working with clients to deliver results that endure! | 
     
    
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                Successful client work requires a superior team of 
outstanding people working fluidly together.
 Bonneville Research is the one firm with the 
experience and expertise to help businesses, 
governments and nonprofit organizations solve their 
toughest problems.
 We work to help clients achieve enduring results 
and improve the communities in which we live. 
  
                 
            
            
                BONNEVILLE RESEARCH
 Bonneville Research is a Utah-based consulting 
firm providing economic, financial, market and policy 
research to public and private sector clients 
throughout the intermountain west. 
 Helping Clients Succeed
 Our services include: 
 	- Financial Analysis
  
 - Business License Studies
 - Impact Fee analysis
 
 - Urban Renewal & Redevelopment 
Analysis and Budgets
 
 - Strategy and Policy Analysis
  
 - Economic and Fiscal Impact Analysis
  
 - Statistical and Survey Research
  
 - Public Sector Mission Effectiveness
  
Each of our studies is tailored to address the 
unique needs of our clients and their communities.
  
            
                If we can help, please call or email us at 
 - Bob
- 801-364-5300 
 - BobSpring@BonnevilleResearch.com
  
 - Jon
- 801-746-5706
 - 
JonSpring@BonnevilleResearch.com 
 
   
 
            
            
            
            
            
            
            
            
            
            
             
            
            
            
            
            
            
            
            
            
            
            
            
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