SALT LAKE CITY — Here’s a look at the news for June 5.
MUST-READ NEWS THIS MORNING:
Salt Lake City mayor’s office: We cut business permit wait times
Salt Lake City Mayor Jackie Biskupski’s office said Monday the city has cut wait times for business permits by half, according to the Deseret News.
Wait times ranged about 59 days in 2017, which is down from the 114 days it took to receive a permit in 2015, the office said.
"When businesses want to invest in Salt Lake City, we don’t want to get in the way," Biskupski said in a statement.
Local restaurant owner David Heiblim told the Deseret News he’s faced plenty of problems with the city in the past when securing business permits. He said the city is now heading in the “right direction.”
Domo files for IPO as a lifeline
Remaining Time -0:00
This is a modal window.
Foreground — White Black Red Green Blue Yellow Magenta Cyan — Opaque Semi-Opaque
Background — White Black Red Green Blue Yellow Magenta Cyan — Opaque Semi-Transparent Transparent
Window — White Black Red Green Blue Yellow Magenta Cyan — Opaque Semi-Transparent Transparent
Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400%
Text Edge Style None Raised Depressed Uniform Dropshadow
Font Family Default Monospace Serif Proportional Serif Monospace Sans-Serif Proportional Sans-Serif Casual Script Small Caps
Utah-based business analytics platform service Domo filed for an IPO late last week, but not because of its success, according to the Deseret News.
Rather, Domo filed the paperwork because the company “is in rough financial waters and the move appears to be more about casting a fiscal lifeline than marking mushrooming success,” the Deseret News reported.
The paperwork revealed Domo accumulated over $800 million in debt since 2010 and has exhausted all credit options. Without an IPO, the company would need to start slashing costs across the board.
"To the extent additional capital is not obtained through an IPO, management will seek other forms of financing," reads a section of the IPO paperwork. "If other equity or debt financing is not available by August 2018, management will then begin to implement plans to significantly reduce operating expense."
Utah coach positive over new athletic director
Coaches at the University of Utah are already ecstatic about new athletic director Mark Harlan, according to the Deseret News.
Harlan called a staff meeting Monday morning before a media appearance and took the opportunity to meet coaches and staff.
Utah women’s basketball coach Lynne Roberts told the Deseret News she was positive over Harlan’s hiring.
“It’s a great day for Utah athletics,” she said. “He’s impressive and has a breadth of experience. He’s got a good way about him and is very personable, and I think everybody’s optimistic.”
Mueller’s team accuses Manafort of witness tampering
Special counsel Robert Mueller’s investigative team has accused Paul Manafort, the former Trump campaign manager, of tampering with a witness, according to NPR.
Lawyers on the team filed a motion that said they believe Manafort attempted to tamper with a witness, having “repeatedly” contacted two witnesses "in an effort to secure materially false testimony" about Manafort’s potential lobbying efforts in favor of Ukraine.
After the indictment was made public, Manafort allegedly called one witness on his cellphone. The potential witness decided to avoid Manafort and ended the call.
Manafort then allegedly texted the witness, who saved the texts and sent them to the government.
AROUND THE WEB: