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Posted 09 Apr 2002   For week ended February 1, 2002
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Judge Allows Manufacture of Joseph Smith Ring
Judge Anthony Quinn, of the 3rd District Court, issued a decision to dismiss the case of an Orem man who attempted to prevent Ringmasters LLC of Ogden from producing and marketing replicas of a ring that was worn by the prophet Joseph Smith. Erwin "Buddy" Youngreen filed a lawsuit against the jeweler in October and accused him of conspiring with Allan R. Baird and David Lewis of making 300 unauthorized replicas for a Sandy, Utah ward of The Church of Jesus Christ of Latter-day Saints.

Geneva Steel Bankrupt Again
For the second time in just three years Geneva Steel, one of the largest employers in heavily-Mormon Utah County, has sought protection under chapter 11 of the US Bankruptcy laws. The steel producer filed in response to its secured creditors, who required the filing as a condition to further financing of the company. The current agreement with the secured lenders gives the company access to cash through May 1, 2002.

Shopping Center Magnate Ensures "Other Side of Heaven" Opens in Austin
An LDS shopping center developer, Mark Palmer, not only invested in bringing "The Other Side of Heaven" to the screen, but also has helped the film make it to Austin, Texas. Palmer, a native of New Zealand, knew Elder John Groberg, whose story is told in the film, while living in Fiji and currently has a son serving an LDS mission in the South Pacific. He helped ensure that the film opened in Austin on February 1st. "This is clearly a first for me," said Palmer, who has built at least three Austin shopping centers. "It remains to be seen if it works out as well as a shopping center."

MSI: Index Rises with Markets, but Lags Dow, NYSE
The Mormon Stock Index rose about one half of one percent last week, in line with other market indexes but trailing them slightly as stocks were overall mixed for the week. The MSI reached 111.00, at the end of the week, down slightly so far this quarter, but still up 11% in its two-year history.


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