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Business News
| Resignation of CEO Leaves Iomega's Future in Doubt |
| Iomega Corp. CEO Bruce Albertson resigned Monday over
differences with the company's board of directors, including board chairman
David J. Dunn. In the wake of his resignation, investors are wondering what
direction the troubled company will take as it struggles to turnaround its
fortunes and the fall in its stock price. |
| Pioneering Radio Executive Jay William 'Bill' Wright Dies |
| Jay William "Bill" Wright, a former radio
executive and broadcast engineer died May 22nd in Woodinville,
Washington. Wright was one of the early radio operators and engineers
for KSL radio, who went on to help develop technologies for detecting
submarines and jamming rocket guidance systems during World War II
before he rose to become Chairman of then-KSL parent Radio Service
Corporation of Utah. He was also chief engineer of both CBS and
Seattle's King Broadcasting Company. He was 91. |
| MSI: Washington National Delisted, Index Up on Rate Cut |
| The bankruptcy filing by Washington National Group,
headed by LDS Church member Steven Hanks, led the New York Stock Exchange to
remove its listing from the market, and leaving investors without a place to
trade the essentially worthless shares. As a result Mormon News has also
removed the company from the Mormon Stock Index. However, two other
companies, Avista Corp., and SkyWest Airlines have been added to the index,
which rose nearly 4% last week because the Federal Reserve cut interest rates. |
Other Business News
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