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Mormon News: All the News about Mormons, Mormonism and the LDS Church
Posted 24 Feb 2001   For week ended December 8, 2000
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Business News

  Tribune-Deseret News Dispute Explodes After AT&T Agrees To Sell
The continuing dispute between the Salt Lake Tribune and the LDS Church-owned Deseret News exploded last Friday after the Tribune's owner, AT&T Broadband, reached an agreement to sell the newspaper to the Denver-based MediaNews Group. The Salt Lake Tribune Publishing Company, which has a contract to run the newspaper, immediately filed a lawsuit to block the sale, claiming it has the right to purchase the Tribune in 20021 under an earlier contract. The Tribune also published a series of articles on Saturday and Sunday accusing the Deseret News and the LDS Church of orchestrating the sale to force changes in the joint operating agreement (JOA) the newspaper has with the Deseret News and to silence the Tribune on issues sensitive to the LDS Church.

  How Zions Bank Is Recovering From Failed First Security Merger
After a failed merger with First Security Corp., Zions bank is being instructed by analysts to return to its original strategy. U.S. Bancorp analyst, Erick Reim said, "They go back to the formula that made Zions one of the best-performing banks of the 1990s." Zions formula is a simple one of making small acquisitions and not big mistakes.

  MSI Resists Much of NASDAQ Fall
With the broader NASDAQ index falling 9% for the week, the Mormon Stock Index managed to limit its own drop to under 3%, thanks to a strong performance by Corvis and gains at larger, NYSE stocks like Black & Decker, Host Marriott, Marriott International, Ryder Systems and Zions Bancorp. For the year, the MSI remains up nearly 10%, with many of its components retaining large increases.

  LDS Church Building Huge Utah Camp
8,400 acres of land, soon to be known as Lake Creek Camp, will be available for use by members of the Church of Jesus Christ of Latter-day Saints by the summer of 2002. The environmentally safe facility will cater exclusively to nearly 6,000 members of the LDS Church along the Wasatch Front at any given time. Thirteen main campsites will spread across the timbered setting that encompass lakes and streams that rise in elevation to more than 9,900 feet.

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