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Mormons, Mormonism
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Mormon News: All the News about Mormons, Mormonism and the LDS Church
Posted 24 Feb 2001   For week ended October 13, 2000
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Business News

  LDS Church, Deseret News Deny Rumors of Salt Lake Tribune Takeover
Salt Lake City TV station KUTV Channel 2 reported last Tuesday on rumors that the LDS Church was seeking to purchase the Salt Lake Tribune or the Newspaper Agency Corporation that controls the business operations of both the Tribune and the Deseret News, in the process unleashing a simmering dispute between the two papers over control of the agency under their 1952 join operating agreement. The dispute also raised fears that the Tribune's independent voice would somehow become controlled or silenced in the process.

  Purchase of Mormon Bank Gets Final Approval
On Tuesday, the Federal Reserve Board approved Wells Fargo &Co.'s purchase of Salt Lake City-based First Security Corp. The board voted 5-0 in favor of the acquisition, which will make San Francisco-based Wells Fargo Utah's largest banking company.

  LDS Billionaire David Huber's Firm, Corvis, Posts Revenue for First Time
Corvis, the optical networking company, has finally made its first commercial shipment of equipment, marking the company's first real revenues.

  New Companies Added to Mormon Stock Index, But Index Falls
Mormon News has learned of three new companies which have been added to its Mormon Stock Index, including two companies run by Mormon billionaires. AES Corp., Oakley, Inc. and Cornerstone REIT, all listed on the New York Stock Exchange, were added to the index this week.

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