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Summarized by Kent Larsen
Mormon News Introduces Stock Index
Kent Larsen 5Jul00 B2
NEW YORK, NEW YORK -- Mormon News introduces today a new feature, its
index of publicly-traded stocks that have Mormon management. The
index, which includes 18 stocks, is an attempt to see how well
companies run by Mormon businessmen perform in the markets.
Like the major stock indexes, this Mormon stock index reflects
changes to the share prices of all 18 stocks. The stocks are weighted
in the index according to their market capitalization, so that stocks
with more shares outstanding at higher prices influence the index
more than those with lower valuations. The index is set so that at
January 1, 2000 it was at 100.00.
Already since then the stocks included in the index have changed
because of the IPO of one company, Caldera Systems, on March 21st. We
also expect to add another stock later this month when LDS Church
member David Huber's Corvis Corp. goes public. Another stock, First
Security Corp., is involved in a merger and is expected to be dropped
from the index when the merger is complete, and Nationwide Financial
is expected to drop off the index at the end of the year, when
Chairman Dimon McFerson retires.
As of June 30th, the index stands at 128.57, reflecting an increase
of 28.57% since the beginning of the year. For the week, the index
increased 4.29 or 3.45%, mainly because of increases in the stock
prices of Black &Decker, 1-800-Contacts, Hollywood Entertainment,
Myriad Genetics and Netrix. The increase of 14.55% at Hollywood
Entertainment is due to the company's decision to shutter its
Reel.com subsidiary, which was a considerable drain on company
resources.
In comparison to the national indexes, the Mormon Stock Index did
well this week. Its increase of 3.45% beat all the major stock
indexes, including the Dow Jones Industrial Average, the New York
Stock Exchange index, the NASDAQ index, the S&P 500 and the Wilshire
5000.
Here is a list of the 18 stocks that make up the index. For each we
have listed who its Mormon officer is and that person's title, as
well as the stock's closing price, and change for the week:
Albertsons 33.2500, down 0.6875
Richard L. King, President &COO
Black &Decker 39.3125, up 3.0625
Nolan D. Archbald, CEO
Caldera Systems 13.0625, down 0.3125
Ransom H. Love, CEO
1-800-Contacts 47.0000, up 5.8750
Jonathan C. Coon, President &CEO
Dell Computer 49.3125, up 1.8750
Kevin B. Rollins, Vice Chairman
Franklin Covey 6.9531, down 0.3594
Stephen R. Covey, Chairman
Fonix 1.1250, down 0.0469
Steve Studdert, Chairman
First Security 13.5625, down 0.1875
Spencer F. Eccles, Chairman &CEO
Hollywood Entertainment 7.8750, up 1.0000
Mark J. Wattles, CEO
Host Marriott 9.3594, down 0.2656
Richard Marriott, Chairman
Iomega 4.0000, up 0.0625
David J. Dunn, Chairman
Marriott International 36.0625, up 0.8125
J.W. Marriott, Jr., Chairman
Myriad Genetics 148.0781, up 20.7031
Christopher L. Wight, VP, General Counsel
Nationwide Financial 32.8750, down 0.5625
Dimon McFerson, Chairman
Novell 9.2500, up 0.2500
Stewart Nelson, COO
Netrix 12.3125, up 3.0000
Lynn Chapman, President &CEO
Ryder Systems 18.9375, no change
Tony Burns, CEO
Zions Bancorp 45.8906, down 1.7969
Harris Simmons, Chairman
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