LDS Church Held Up Sale of Struggling ZCMI
Documents filed with the U. S. Securities and
Exchange Commission reveal that the LDS Church prevented the sale of
ZCMI department stores, of which it owne more than half, until this
past summer. Several chains had approached ZCMI multiple times at
least since 1995. The documents were filed with the SEC because ZCMI
was a publically-traded company, of which a trust owned by the LDS
Church was the majority shareholder.
Federal Reserve Approves Merger of Mormon Banks (Union of Utah banks likely by year's end)
The Federal Reserve Bank Board approved the
merger of Zions Bancorp and First Security Corp. Monday, a move that
will probably allow the merger to be completed by year end. "We hope to
close this transaction at year end, "said Zions' chief financial officer,
Dale Gibbons.
The only conditio
New BYU Building Combines Education and Worship (A place to learn and worship)
The LDS Church dedicated a unique chapel on BYU's campus
Sunday, one that BYU President Merrill J. Bateman billed as the wave of
the future. The building will house two LDS student stakes as well as
BYU's English Language Center. The building will be used both for BYU
classes on weekdays and for regular LDS meetings on Sundays and in the
evenings. Bateman sees this dual use as the "prototype for what the
church does across the Earth."
Former Regional Representative & Deseret Management Officer dies (Funeral for John M. Scowcroft is Monday)
LDS business executive and the former general
manager of LDS Church-owned Deseret Management Corp., the holding
company for the Church's for-profit businesses, died December 11th of
cancer.
LDS Businessman's Venture Requires Golden Rule
LDS Church member Lyle Stucki has hit on a
venture that requires tact and care, and he has found that using the
Golden Rule does the job. He and his partner, Charlie Gary, are debt
collectors -- for libraries. Unique Management Services Inc., their
company, is, they claim, the only collection agency in the country to
focus on collecting overdue library books and fines. |
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