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Mormon News: All the News about Mormons, Mormonism and the LDS Church
Posted 27 May 2001   For week ended May 25, 2001
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Business News

Resignation of CEO Leaves Iomega's Future in Doubt
Iomega Corp. CEO Bruce Albertson resigned Monday over differences with the company's board of directors, including board chairman David J. Dunn. In the wake of his resignation, investors are wondering what direction the troubled company will take as it struggles to turnaround its fortunes and the fall in its stock price.

Pioneering Radio Executive Jay William 'Bill' Wright Dies
Jay William "Bill" Wright, a former radio executive and broadcast engineer died May 22nd in Woodinville, Washington. Wright was one of the early radio operators and engineers for KSL radio, who went on to help develop technologies for detecting submarines and jamming rocket guidance systems during World War II before he rose to become Chairman of then-KSL parent Radio Service Corporation of Utah. He was also chief engineer of both CBS and Seattle's King Broadcasting Company. He was 91.

MSI: Washington National Delisted, Index Up on Rate Cut
The bankruptcy filing by Washington National Group, headed by LDS Church member Steven Hanks, led the New York Stock Exchange to remove its listing from the market, and leaving investors without a place to trade the essentially worthless shares. As a result Mormon News has also removed the company from the Mormon Stock Index. However, two other companies, Avista Corp., and SkyWest Airlines have been added to the index, which rose nearly 4% last week because the Federal Reserve cut interest rates.

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