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Business News
| Deseret News' Dean Photo Editing Makes Worldwide News |
| A single cigarette is world famous. In a recent
edition of the Deseret News, owned by The Church of Jesus Christ of
Latter-day Saints, actor James Dean's photograph appeared without his
customary cigarette. The manipulation violated newspaper policy against
changing photographs, said managing editor Rick Hall and a clarification ran
the following week, but news reports of the error have appeared in hundreds
of newspapers around the world, even as far away as Malaysia, and, to the
News' embarrassment, made the trade publication Editor &Publisher. |
| Forbes Reports Huntsman in 'A Very Tight Spot' |
| The August 6th issue of Forbes Magazine reports that
LDS billionaire Jon M. Huntsman is in a "very tight spot" because of
long-term debt taken on to finance acquisitions. The company has had to sell
some assets and take on minority investment in order to meet the interest
payments on its debt. The company has also recently cut back, dropping 700
of its 3,500 US jobs in an effort to pare costs in the face of lower prices
for its products. |
| LDS-Led WGI's Fight with Raytheon Accelerating |
| Washington Group International and Raytheon each
filed documents this past week with the bankruptcy court where WGI is
seeking financial protection while it works to address the financial
damage from its purchase of Raytheon's former heavy construction
division. |
| MSI: Investors Dump Oakley as Competitor Finds Achilles Heel |
| Oakley, Inc., manufacturer of sunglasses, shoes and
other high-end clothing accessories dropped 30% last week, pushing the
Mormon Stock Index down nearly 1/2% last week, after it revealed that
competitor Luxottica was taking advantage of its purchase of Oakley's
largest customer, Sunglass Hut, and reducing its orders from Oakley.
Luxottica purchased Sunglass Hut earlier this year. |
Other Business News
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