ALL the News about
Mormons, Mormonism
and the LDS Church
Mormon News: All the News about Mormons, Mormonism and the LDS Church
Posted 24 Feb 2001   For week ended January 30, 2000
Previous Week 23Jan00
Following Week 06Feb00
Week Ended 30Jan00
Most Recent Week
Front Page
Local News
Arts & Entertainment
·New Products
·New Websites
·Mormon Stock Index
Letters to Editor
Continuing Coverage of:
Boston Temple
School Prayer
Julie on MTV
Robert Elmer Kleasen
About Mormon News
News by E-Mail
Weekly Summary
Submitting News
Submitting Press Releases
Volunteer Positions
Bad Link?

Business News

  Big banks queueing on Mormon state's doorstep
A Federal law in the United States makes Utah the beneficiary of a strange loophole that allows financial institutions to avoid regulation by the Federal Reserve. The law, passed while former Senator Jake Garn, an LDS Church member, was chairman of the Senate Finance Committee, allows corporations to offer everything a bank offers except checking accounts, but avoid the regulations placed on Banks by the Federal Reserve.

 Mormon bookstore largest in valley
An LDS woman in Modesto, California, is finding success with a growing business based on LDS products. Cumorah Books, a 3,600 square foot shop featuring books, music, and other items, is a far cry from the former state of things for saints in the area.

Other Business News

Photo Shows Roof Almost on Main Street Garage
The steel re-enforced roof is about to be put on the underground parking garage under the portion of Main Street that the LDS Church purchased from Salt Lake City last year. The 600-stall parking facility should be finished this spring, while the plaza itself, barring court interruptions, should be finished by the fall.

Working from the ground up
Deseret News 27Jan00 B1

Judges put Zions/First Security Merger on Hold
The merger of Zions Bancorp and First Security Bank was put on hold by a New Mexico federal judge to whom a lawsuit seeking to block the merger was assigned. The lawsuit claims that the merger will reduce banking services available to businesses and individuals in southern Utah.

The lawsuit is being heard by a New Mexico judge because all six Utah judges recused (excused) themselves from hearing the case. Neither the plaintiff nor the defendants in the case requested recusals, nor did the judges give their reasons for refusing. However, judges generally don't hear cases when they have a tie to one side or another, which could be as simple as owning stock in one of the banks or holding a bank account or mortgage from one of the two banks.

Zions merger on hold
Deseret News 25Jan00 B4
By Max B. Knudson: Deseret News business editor
Utah's federal judges say they can't hear opponents' lawsuit

ZCMI stores reopen after two weeks of renovations
14 ZCMI stores in Utah and Idao reopened on Monday, January 31st after two weeks of renovations ordered by their new owner, the May Co. of St. Louis. While the stores haven't yet been changed over to their new name, Meier & Frank, May has put in new computerized cash registers that fit their system and trained employees on Meier & Frank policies.

ZCMI stores to reopen Monday
Deseret News 30Jan00 B4
By Max Knudson: Deseret News business editor
But customers won't notice very much difference -- yet


BYU Grad Blake Modersitzki named to NetObjects Board
Modersitzki, a Novell employee responsible for its venture capital fund, was named to NetObject's Board of Directors. He fills a spot on the board reserved for a Novell employee because of its venture capital investment in the firm. NetObjects is an IBM affiliate that provides software and services for small businesses to build and maintain Websites.

NetObjects, Inc. Names Blake Modersitzki to Board of Directors
PRNewswire 28Jan00 B2


[an error occurred while processing this directive]

Copyright 1998, 1999, 2000, 2001 Kent Larsen · Privacy Information