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Business News
| Judge Allows Manufacture of Joseph Smith Ring |
| Judge Anthony Quinn, of the 3rd District
Court, issued a decision to dismiss the case of an Orem man who
attempted to prevent Ringmasters LLC of Ogden from producing and
marketing replicas of a ring that was worn by the prophet Joseph
Smith. Erwin "Buddy" Youngreen filed a lawsuit against the jeweler in
October and accused him of conspiring with Allan R. Baird and David
Lewis of making 300 unauthorized replicas for a Sandy, Utah ward of
The Church of Jesus Christ of Latter-day Saints. |
| Geneva Steel Bankrupt Again |
| For the second time in just three years Geneva
Steel, one of the largest employers in heavily-Mormon Utah County,
has sought protection under chapter 11 of the US Bankruptcy laws. The
steel producer filed in response to its secured creditors, who
required the filing as a condition to further financing of the
company. The current agreement with the secured lenders gives the
company access to cash through May 1, 2002. |
| Shopping Center Magnate Ensures "Other Side of Heaven" Opens in Austin |
| An LDS shopping center developer, Mark Palmer, not
only invested in bringing "The Other Side of Heaven" to the screen,
but also has helped the film make it to Austin, Texas. Palmer, a
native of New Zealand, knew Elder John Groberg, whose story is told
in the film, while living in Fiji and currently has a son serving an
LDS mission in the South Pacific. He helped ensure that the film
opened in Austin on February 1st. "This is clearly a first for me,"
said Palmer, who has built at least three Austin shopping centers.
"It remains to be seen if it works out as well as a shopping center." |
| MSI: Index Rises with Markets, but Lags Dow, NYSE |
| The Mormon Stock Index rose about one half of
one percent last week, in line with other market indexes but trailing
them slightly as stocks were overall mixed for the week. The MSI
reached 111.00, at the end of the week, down slightly so far this
quarter, but still up 11% in its two-year history. |
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