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Business News
| LDS Church's Kansas City Area Land Has Developers Waiting |
| An article in this week's Kansas City
Business Journal shows that developers are frustrated waiting for The
Church of Jesus Christ of Latter-day Saints to develop land it owns
near Lee's Summit, just outside of Kansas City in Eastern Jackson
County, Missouri. The Church has refused to sell the land or even
hint about its plans there. The property in question, some 8,000
acres, is now worth hundreds of millions of dollars, and its value is
increasing as the city improves access to the area and as nearby
development increases. However, the article doesn't mention the
Church's history in Jackson County or the beliefs of Church members
about that portion of Missouri. |
| Zions Bancorp to be Added to S&P 500 |
| Standard and Poor's announced Tuesday that it
will add Zions Bancorp to its S&P 500 index after the close of
trading on Friday, June 22nd. The change, necessary because Alza
Corp. is being purchased by Johnson and Johnson, will likely make
Zions a more widely held and watched stock. |
| MSI: MSI Drops, But Less Than Market |
| The Mormon Stock Index fell 3 1/4% last week to
117.72, along with most US stocks, but it fell less than the NASDAQ
(down 8.4% last week). Leading the down stocks this week was Corvis
Corp., which dropped 26%, but their decline was offset somewhat by
AES Corp., which gained a modest 3 3/4%. |
Other Business News
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