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Summarized by Kent Larsen
New Companies Added to Mormon Stock Index, But Index Falls
NEW YORK, NEW YORK -- Mormon News has learned of three new companies which
have been added to its Mormon Stock Index, including two companies run by
Mormon billionaires. AES Corp., Oakley, Inc. and Cornerstone REIT, all
listed on the New York Stock Exchange, were added to the index this week.
AES specializes in running power systems in an environmentally freindly way,
which made its co-founder and Mormon Roger W. Sant a billionaire, listed on
the Forbes list of the 400 richest Americans. While raised Mormon, Sant is
no longer active in the LDS Church, although some Mormon principles inform
his management style.
The other Mormon billionaire is Jim Jannard, Chairman and CEO of sunglass
manufacturer Oakley, Inc., based in California. Although Mormon News listed
6 Mormons on the Forbes 400, we missed Jannard until a Mormon News
subscriber alerted us to him. Another subscriber told us that her stake
president was Glade M. Knight, Chairman and CEO of Cornerstone REIT, a real
estate investment and management company.
In spite of adding these companies, which tend to broaden the MSI, the index
still fell heavily, mostly due to the broad sell-off in high tech stocks,
clear from the 8.5% drop in the NASDAQ. The MSI, more than half of which are
NASDAQ stocks, fell just over 7%, while other indexes didn't fall as much.
| Mormon Stock Index | | | 127.9876 | down 7.0602 |
| Company | Symbol | LDS Executive | Closing Price | Change |
| AES Corp. | AES | Roger W. Sant, Chairman | 64.7500 | down 3.7656 |
| Black &Decker | BDK | Nolan D. Archbald, CEO | 31.7500 | down 2.4375 |
| Caldera Systems | CALD | Ransom H. Love, CEO | 4.2500 | up 0.1562 |
| Corvis Corporation | CORV | David Huber, CEO | 58.0000 | down 3.0469 |
| 1-800-Contacts | CTAC | Jonathan C. Coon, President &CEO | 44.6875 | down 3.3125 |
| Dell Computer | DELL | Kevin B. Rollins, Vice Chairman | 25.3125 | down 5.5000 |
| EarthShell | ERTH | Simon K. Hodson, CEO | 1.2500 | no change |
| Franklin Covey | FC | Stephen R. Covey, Chairman | 7.5000 | up 0.1875 |
| Fonix | FONX | Steve Studdert, Chairman | 0.7188 | down 0.0937 |
| First Security | FSCO | Spencer F. Eccles, Chairman &CEO | 16.2500 | down 0.0625 |
| Hollywood Entertainment | HLYW | Mark J. Wattles, CEO | 6.6250 | down 0.8125 |
| Host Marriott | HMT | Richard Marriott, Chairman | 10.8125 | down 0.4375 |
| I-Link | ILNK | John Edwards, Chairman & CEO | 2.9375 | down 0.4063 |
| Iomega | IOM | David J. Dunn, Chairman | 4.8800 | down 0.1200 |
| Marriott International | MAR | J.W. Marriott, Jr., Chairman | 35.8750 | down 0.5625 |
| Micrel Semiconductors | MCRL | Ray Zinn, Chairman and CEO | 60.5000 | down 6.5000 |
| Myriad Genetics | MYGN | Christopher L. Wight, VP, General Counsel | 86.6875 | down 0.3125 |
| Novell | NOVL | Stewart Nelson, COO | 8.9688 | down 0.9687 |
| Netrix | NXWX | Lynn Chapman, President &CEO | 4.5625 | down 2.0625 |
| NuSkin | NUS | Most of Management is LDS, including Chairman and CEO | 6.1875 | down 0.4375 |
| Oakley, Inc. | OO | Jim Jannard, Chairman &CEO | 18.5625 | up 1.0000 |
| Ryder Systems | R | Tony Burns, CEO | 15.9375 | down 2.5000 |
| Cornerstone REIT | TCR | Glade M. Knight, Chairman &CEO | 10.6250 | no change |
| Ten Fold | TENF | Gary Kennedy, President and CEO | 5.0000 | up 0.5625 |
| Zions Bancorp | ZION | Harris Simmons, Chairman | 53.1250 | up 1.9844 |
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