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Business News
Tribune-Deseret News Dispute Explodes After AT&T Agrees To Sell |
The continuing dispute between the Salt Lake Tribune
and the LDS Church-owned Deseret News exploded last Friday after the
Tribune's owner, AT&T Broadband, reached an agreement to sell the newspaper
to the Denver-based MediaNews Group. The Salt Lake Tribune Publishing
Company, which has a contract to run the newspaper, immediately filed a
lawsuit to block the sale, claiming it has the right to purchase the Tribune
in 20021 under an earlier contract. The Tribune also published a series of
articles on Saturday and Sunday accusing the Deseret News and the LDS Church
of orchestrating the sale to force changes in the joint operating agreement
(JOA) the newspaper has with the Deseret News and to silence the Tribune on
issues sensitive to the LDS Church. |
How Zions Bank Is Recovering From Failed First Security Merger |
After a failed merger with First Security Corp.,
Zions bank is being instructed by analysts to return to its original
strategy. U.S. Bancorp analyst, Erick Reim said, "They go back to
the formula that made Zions one of the best-performing banks of the
1990s." Zions formula is a simple one of making small acquisitions
and not big mistakes. |
MSI Resists Much of NASDAQ Fall |
With the broader NASDAQ index falling 9% for
the week, the Mormon Stock Index managed to limit its own drop to
under 3%, thanks to a strong performance by Corvis and gains at
larger, NYSE stocks like Black & Decker, Host Marriott, Marriott
International, Ryder Systems and Zions Bancorp. For the year, the MSI
remains up nearly 10%, with many of its components retaining large
increases. |
LDS Church Building Huge Utah Camp |
8,400 acres of land, soon to be known as Lake
Creek Camp, will be available for use by members of the Church of
Jesus Christ of Latter-day Saints by the summer of 2002. The
environmentally safe facility will cater exclusively to nearly 6,000
members of the LDS Church along the Wasatch Front at any given time.
Thirteen main campsites will spread across the timbered setting that
encompass lakes and streams that rise in elevation to more than 9,900
feet. |
Other Business News
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