Does Sears, Roebuck and Co. have a big economic impact on the Utah economy?
Company officials believe it does and said the company purchases most of its products in the United States. "Our first choice is always to buy American-made products," said Edward A. Brennan, chairman and chief executive officer.He said more than 90 percent of the money Sears spends on merchandise in 1987 came from American suppliers.
Here is the company's report card it release in an attempt to show it is an important part of the Utah economy:
- In 1987, the company purchased $33.9 million worth of items from 19 Utah companies that was sold through more than 3,400 Sears outlets across the country.
- The four business groups of Sears employed 2,045 Utahns and paid $9.4 million in state and local taxes while operating 145 stores, offices and other facilities in Utah last year.
- There are 1,568 shareholders in Utah who own 485,494 shares of Sears stock. That includes 1,153 members of the company's employee profit-sharing fund who own 170,710 shares of Sears stock.
- Allstate has $157.6 million invested in municipal bonds issued by state and local Utah governments.
- Allstate handled claims totaling $40.5 million for individuals and businesses in Utah for all lines of insurance.
- Dean Witter helped state and local governments raise money for schools, hospitals, transportation and other services by underwriting and distributing bond issues totaling $367.7 million.