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Business News
Mormon-Run Airline Expanding, Despite September 11th |
While almost every other airline is cutting back because
of the drop in air travel follwing the September 11th terrorist attacks,
SkyWest Airlines is actually expanding, thanks to its unique position in the
market. Like other airlines, SkyWest has seen a drop in the passengers it
carries, but it also benefits from its relationship with Delta Airlines and
United Airlines, which have both shielded SkyWest from the drop in
passengers and actually increased the number of routes it flies. |
Mormon Gurus to Give Free New York Seminar to Companies Affected by September 11th |
LDS management gurus Stephen R. Covey and Hyrum
Smith will address a free seminar for companies and organizations coping
with the September 11th attack on the World Trade Center in New York City.
Covey and Smith will speak at the all-day seminar, titled "Managing Change
in the Face of Crisis and Economic Uncertainty," provided by their company,
FranklinCovey on Friday, October 19th in the Sheraton Hotel and Towers. |
MSI Up 6.5%; But Drops Two Companies |
The Mormon Stock Index rose 5% last week as it
continued to recover following the September 11th terrorist attacks, helped
by a recovery at Dell Computer. But the market decline led the index to drop
one company, and another company was dropped after its Mormon executive left. |
Sorensen Media Handles Internet Conference Broadcast |
Sorensen Media Inc., owned by LDS billionaire James
Sorensen, was one of the companies assisting the LDS Church in its broadcast
of the church's General Conference on October 6th and 7th. Sorensen carried
the Internet broadcast of the conference, through the Church's official
website. The earlier Internet broadcast of a memorial service for the
September 11 terrorist attacks drew about 8,000 live viewers and more than
100,000 by archive. Previous Internet broadcasts were handled by Real Networks. |
Myriad Genetics Discovers Cancer-Killing Drug |
Hot on the heels of a major article in the
scientific journal Cell in which Myriad Genetics helped make major
discoveries, the company has announced that it discovered a novel
anti-cancer drug. The substance, called MPI-176716, induces cell
death (apoptosis) in several cancers, including prostate cancer and T
cell lymphomas, without harming normal human cells. Researchers have
demonstrated that the drug is not generally toxic to cells, but uses
the cell's own biological mechanism to kill them. The drug was
discovered using Myriad's ProNet(R) proteomics technology, and the
company is conducting further experiments to maximize the
effectiveness of the compound. Myriad Genetics is on the Mormon Stock
Index. |
EarthShell's Products to be Sold in Wal-Mart |
Environmentally-friendly packaging manufacturer
EarthShell Corporation announced last week that it will test market its
paper plates and bowls in select Wal-Mart stores in Portland, Oregon and
Baltimore, Maryland next month. "This is the first time ever that our
products have been made available for retail sale, and we believe that this
project will confirm strong consumer interest in EarthShell Packaging," said
Vincent Truant, the company's chief marketing officer, in a press release.
"Consumers will have the opportunity to learn more about the environmental
attributes and benefits of EarthShell Packaging through informational
pamphlets, which will be available with the products on the displays."
EarthShell is listed on the Mormon Stock Index because its CEO, Simon
Hodson, is an LDS Church member. |
LDS Church Wins Approval for Recreational Vehicle Park |
The LDS Church won approval last week from the Fremont
County Commission for a recreational vehicle park to support missionary
volunteers along the Mormon Trail. The RV Park, which will be used
exclusively by the missionaries, will be located near the Jeffry City area.
ElRay Titensor of Afton, Wyoming, an agent for the church's Farmland Reserve
Inc., said that 5,738 visitors pulled handcarts along a portion of the
Mormon Trail in the area last summer, and that 13,573 are expected this
coming summer. The County Commission had delayed considering the idea twice
due to water supply concerns, until they were assured that the park wouldn't
deplete groundwater supplies. The site will include a well serving no more
than 10 RV spaces, one permanent duplex and a laundry room in a shop building. |
Sealy Donates 300 Matresses to NY Firefighters |
In response to the September 11th
terrorist attacks, national bedding manufacturer Sealy donated 300
mattresses to the New York City Fire Department. The
Posturepedic-brand mattresses left for New York City in two
tractor-trailers on Monday, October 8th and were expected in New York
on October 10th. Sealy Chairman (and LDS Church member) Ron Jones
said that the company intentionally left images of the World Trade
Center towers, already on the trailers for more than a year, in
place, "We had thought about removing the towers, but decided they
are still there emotionally and spiritually," Jones said. "We felt it
would be appropriate to leave the towers on the trailers as they made
their way to New York City." The mattresses are to be distributed to
firehouses throughout New York City, "We know sleep has not come
easy to these great heroes for about a month now," Jones said. "We
hope these mattresses will help them in some way." The donations were
one of several efforts Sealy launched October 8th as part of its
"Sealy Supports America" campaign for national, regional and local
charities and relief groups. Among the efforts are $5 donations to
the American Red Cross for every purchase of a Sealy mattress before
December 31st and a donation of 3,000 specially designed mattresses
to the 2002 Winter Olympics in Salt Lake City. |
Even Conference Sunday is Day Off for Church Employees |
While the Temple Square food service employees of
the LDS Church usually serve elaborate lunches to special guests of The
Church of Jesus Christ of Latter-day Saints between sessions of General
Conference, this past Sunday they had the day off. "What the general
authorities have asked us to do is allow our employees to have Sundays off,
as many as possible," said Spencer Herzog, vice president of food operations
for LDS Church-owned Hotel Temple Square Corp. "The integrity of what they
say is certainly what they practice." Instead the special guests got simple
box lunches, all prepared on Saturday. Other Sundays Herzog also tries to
use as few employees as possible, operating a skeleton crew at all the
restaurants and food services at The Inn at Temple Square. The Joseph Smith
Memorial Building is closed Sundays. |
U of Utah Institute to Get Security Fence |
In a security move, the LDS Institute of Religion at
the University of Utah is erecting a 6-foot-high chain-link fence around its
118,000-square-foot site on South Campus Drive. The temporary fence will
come down after the Olympics and Paralympics, when construction on a new
building on the site is complete. The fence is meant to keep the public out
of the construction site. David Ogden, the LDS Church's construction
manager, says that the fence is not a reaction to the September 11th
terrorist attacks, nor does it have anything to do with the Olympics itself,
although the Institute site is between Rice-Eccles Stadium, home to
theOlympic's Opening and Closing ceremonies, and the Athletes Village,
housed in the U's student housing complex east of the Institute. |
MITY Sells Seating Business |
Mormon-owned MITY Enterprises has sold its office and
auditorium seating businesses to Lux Steel Inc., of Elkhart, Indiana.
Lux already manufactures high-end office seating and intensive-use
seating, and the Domore Specialty office seating line it is
purchasing from MITY is already located in Elkhart. MITY is also
selling its JG auditorium seating line to USSC Group Inc. of King of
Prussia, Pennsylvania. For now, MITY retains its multipurpose room
seating, including its Mity-Host(TM) stacking chairs and SwiftSet(TM)
folding chairs. MITY president and CEO Gregory L. Wilson said, "As
previously announced, after reviewing all of our options, we decided
that it was in the long term best interest of MITY Enterprises and
its shareholders to exit the seating business." Founded in 1987,
MITY Enterprises Inc. designs, manufactures and markets innovative
institutional furniture created to meet the efficiency needs of its
customers. The company focuses on providing premium quality
institutional furniture products to niche markets. The product lines
consist of multipurpose room furniture, healthcare seating, call
center furniture and office systems. |
Versaille, Pennsylvania Branch's Building Being Renovated |
The Versaille branch of The Church of Jesus
Christ of Latter-day Saints is currently meeting in the former St. Dennis
School, which is now undergoing major renovations. The lower floor of the
school will hold the chapel, including pews recycled from a chapel in New
Jersey, and classrooms and will be wheelchair-accessible. The renovation
will also add a baptismal font on the lower floor. Until March, when the
work is expected to be completed, the main floor of the building will house
the classrooms, meeting rooms and the chapel. Because the building was a
school, the classrooms already were in place so not too much work was
required there before it could be used. |
Other Business News
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