*Park City-based Skullcandy, Inc. exceeded performance goals in its initial IPO by selling 9.4 million shares for $20 each. (Deseret News) The company “sells fancy headphones, decorative iPod cases and T-shirts with its skull logo” that “symbolize youth and rebellion.” The recent financials seems to reflect a rebellious youth — the company posted a $12.3 million profit in 2009 and a $10 million loss in 2010, and a $1.1 million profit in the first quarter of this year. It’s great to have another successful Utah-based public company. I think I’ll wait until the price drops to $10 before I buy, though.
*The Utah Legislature has jumped on the Wisconsin-led public union collective bargaining ban bandwagon, and says it has nothing to do with the contract disputes going on in Ogden. (SL Trib) That didn’t stop the Trib from leading with a picture from the Ogden rallies. Regardless, the state’s interim Education Committee was granted authority to study “‘tuition tax credits’ for private schools; the elimination of collective bargaining for public employees such as teachers, state workers and city or county employees; and rules prohibiting public employers from collecting union dues from workers’ paychecks.” The President of the Utah Education Association called it the “three-headed monster.” Democrats on the committee were likewise “adamantly opposed to it.” The Utah Public Employees Association (UPEA) has 8,000 members who don’t participate in collective bargaining but do have dues collected directly from their checks. What then, exactly, do those dues cover? Who knows.
*Rep. Jason Chaffetz’s Cut, Cap and Balance Act was passed in the U.S. House yesterday, and Utah’s lone Democrat, Jim Matheson, voted FOR it. (SL Trib) The bill would tie an increased debt limit to a balanced budget amendment. Other “Blue Dogs” in the House voted against the bill, seeing it as a political maneuver and “symbolic.” Incidentally, Ron Paul and Michele Bachmann voted against the bill because they do not want to raise the debt ceiling under any circumstances. Matheson may be trying to limit the differences between himself and Chaffetz, as they both eye a potential Senate run. But Utah’s voters won’t be fooled. Besides, just give him time. I’m sure he’ll vote against the same bill in the near future (think Obamacare).
*Republicans aren’t the only party in the state with outside groups looking to make a difference in local politics. The Democratic Senatorial Campaign Committee is keeping an eye on the race for Senator Hatch’s seat, and believes that if Hatch is defeated at convention, Matheson has a good chance of winning the seat. (AP) Again, don’t hold your breath.
*The Salt Lake County Council has voted to replace the controversial tax levy on unincorporated areas for police services with a dedicated property tax, which will result in many property owners paying more than the original amount levied. (SL Trib) Property owners with home valued above $390,000 will likely end up paying more, but some are OK with that, including the county’s largest taxpayer, Kennecott. (Deseret News) Kennecott feels that a tax is more transparent and public than a levy, and they supported the change. Good for them.
*And finally, the West Wing was scrambling today after a Public Policy Polling poll found President Obama losing to Mitt Romney among Independent voters. (Daily Caller) Even further, 61% of Undecideds disapprove of Obama. (PPP Polls) And speaking of the presidential race, did you tune into the first ever Twitter Presidential Debate? Me neither.