Huntsman Called Industrial Alchemist

This profile of Jon Huntsman begins in Salt Lake City boardroom where he billionaire gathered with his family to bless a grandchild. After the blessing, blond-headed children played in the headquarters of the largest privately owned chemical conglomerate.

First Security Shareholders Vote for Wells Fargo Merger

Shareholders of First Security Corporation, the bank founded by the family of LDS pioneer David Eccles, voted July 31st to join California-based Wells Fargo bank, effectively ending the bank's independence. While the transaction still faces some regulatory hurdles, bank officials expect that it will be completed in the last three months of this year.

Corvis IPO Pushes Mormon Stock Index Up in Down Market

The phenomenal IPO of Fiber-Optic networking firm Corvis pushed the Mormon Stock Index up nearly 1% last week while other market indicators fell, reacting to fears that the Federal Reserve will raise interest rates. Corvis, which traded for the first time on Friday, rose 135% from its offering price of $36 a share. The IPO and Friday's run-up also pushed the company's market valuation to a stratospheric $27 billion, the second largest in the Mormon Stock Index behind Dell Computer.

Caldera Expands By Acquiring SCO Division

Caldera Systems, Inc., the firm run by LDS CEO Ransom Love, has signed an agreement to acquire two divisions of the Unix pioneer Santa Cruz Operation, significantly expanding the size and product line of Caldera. Under the agreement, SCO's server software division and professional services division will become part of a new holding company, Caldera, Inc.

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