Business news briefs
Snell & Wilmer
aids Head Start
The Salt Lake City law firm Snell & Wilmer has decided to support the Head Start early childhood education program with a three-year grant of $25,000 each year. The program, administered by Salt Lake Community Action Program, serves more than 2,400 children from low-income families in 84 classrooms in Salt Lake and Tooele counties. The grant begins this summer.
to open in June
Sizzling Platter, a Utah-based restaurant management company, will open the first of 16 Utah Dunkin' Donuts locations in Salt Lake City, at 200 E. 400 South, in June. Sizzling Platter is renovating a former Burger King, across from the Salt Lake City Public Library.
Nashville-based Heritage Group has made an investment in Aviacode, a Salt Lake City company that provides remote medical coding services and software for hospitals and physician offices. Aviacode employs about 100 people in Salt Lake City and has another 300 contract workers, according to a company spokesman.
U.S. companies increased their restocking in January from December, an encouraging signal that they expect consumers will spend more this year and help the economy grow faster. The Commerce Department says business stockpiles grew 1 percent in January. Weak growth in restocking was a key reason the economy barely grew from October through December.
IPO a big hit
Silver Spring Networks Inc., the maker of networking equipment for smart electricity grids, surged in its first day of trading after raising 21 percent more cash than planned in its initial public offering. Shares of the company, which raised $80.8 million by selling 4.75 million shares for $17 each, rose 29 percent to close at $22.
eye L.A. Times
Charles and David Koch, two of the world's richest men, are interested in the Tribune Co.'s newspaper assets, which include the Los Angeles Times and the Chicago Tribune. Earlier on Tuesday, L.A. Weekly reported the brothers were rumored to be interested in either all of the Tribune company including 23 TV stations and national cable network WGN American or just its newspapers.
Google says the executive in charge of its Android software for smartphones is stepping down. The change marks the first time Android software has been overseen by someone other than Andy Rubin, who began working on the software at a startup Google bought in 2005. He will be replaced by Sundar Pichai, who also oversees Google's Chrome Web browser.