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Business News
Marriott in Auction Battle to Acquire Hotel Group |
Marriott Corp. is one of the bidders
seeking to buy the Forte Hotels group in an auction expected to be
the world's biggest. The third round of the auction will continue
this week, and is expected to be completed in March. Marriott,
founded and run by the Marriott family, members of the LDS Church, is
looking at the chain of hotels to make a major expansion outside of
the US. |
MediaNews Opposes Adding Deseret News to Tribune Lawsuit |
The Salt Lake Tribune Publishing Company's lawsuit
against Tribune owner MediaNews Group, filed December 1 in federal court will
soon go before U.S. District Court Judge Tena Campbell. But MediaNews Group
Inc. is now opposing the attempt by the Salt Lake Tribune to add Deseret
News Publishing Co. as a defendant in the suit, fearing an attempt to shift
the lawsuit to another court. If the News becomes a defendant it would mean
that the two parties are Utah companies and MediaNews fears that could give
the state courts jurisdiction. |
Mormon Stock Index Outperforms Market Again |
The Mormon Stock Index rose 6.6% last week, once again
outperforming the broader market indices. For the year, the index is up
nearly 19% so far this year, up 50% more than the NASDAQ composite's 12% and
far more than the S&P's 1.7%. Both the NYSE composite and the Dow Jones
Industrials are off so far this year. |
Other Business News
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