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Business News
| LDS-led Construction Firm Files Chapter 11 |
| Washington Group International, Inc., formerly known
as Morrison-Knudsen, filed for protection under Chapter 11 of the US
Bankruptcy Code today, due to financial troubles arising from
litigation with Ratheon Co. The company, the fourth largest
construction firm in the US, best known for its construction of
Nevada's Hoover Dam, is headed by LDS Church member Stephen G. Hanks,
who was recently named Business Leader of the Year by Ricks College. |
| Mormon Businessman Elected Chairman of Billion-dollar Energy Company |
| Avista Corporation's board of directors has
named Gary G. Ely its chairman just six months after it named the
34-year company veteran President and CEO. Ely, who is Mormon, is a
graduate of Brigham Young University. He has also played a key role
in turning around two of the company's subsidiaries, returning them
to financial strength. |
| LDS Church Proposes Street Closing in Pocatello |
| Its not Salt Lake City, but The Church of Jesus Christ
of Latter-day Saints has proposed closing another street -- this time in
Pocatello, Idaho. But this proposal has been much less controversial than
the purchase and closing of a block-long stretch of Main Street in Salt Lake
City. In fact, it is leading to serious discussions among the Church's
neighbors in downtown Pocatello and the city planning officials on how to
solve the basic problem -- parking. |
| MSI: AES, Dell Drive Mormon Stock Index Down |
| Sharp declines at the two largest stocks on the
Mormon Stock Index, AES Corp. and Dell Computer, drove the index down
1.7% for the week, in spite of a number of small stocks that had
significant gains. The small stocks rising were led by
1-800-Contacts, which rose nearly 35% for the week, as investors
anticipated the company's quarterly report, released today. Also
rising more than 20% last week were EarthShell, Fonix and Hollywood
Entertainment. |
Other Business News
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