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Business News
| Huntsman Called Industrial Alchemist |
| This profile of Jon Huntsman begins in Salt
Lake City boardroom where he billionaire gathered with his family to
bless a grandchild. After the blessing, blond-headed children played
in the headquarters of the largest privately owned chemical
conglomerate. |
| First Security Shareholders Vote for Wells Fargo Merger |
| Shareholders of First Security Corporation,
the bank founded by the family of LDS pioneer David Eccles, voted
July 31st to join California-based Wells Fargo bank, effectively
ending the bank's independence. While the transaction still faces
some regulatory hurdles, bank officials expect that it will be
completed in the last three months of this year. |
| Corvis IPO Pushes Mormon Stock Index Up in Down Market |
| The phenomenal IPO of Fiber-Optic networking
firm Corvis pushed the Mormon Stock Index up nearly 1% last week
while other market indicators fell, reacting to fears that the
Federal Reserve will raise interest rates. Corvis, which traded for
the first time on Friday, rose 135% from its offering price of $36 a
share. The IPO and Friday's run-up also pushed the company's market
valuation to a stratospheric $27 billion, the second largest in the
Mormon Stock Index behind Dell Computer. |
| Caldera Expands By Acquiring SCO Division |
| Caldera Systems, Inc., the firm run by LDS CEO Ransom
Love, has signed an agreement to acquire two divisions of the Unix
pioneer Santa Cruz Operation, significantly expanding the size and
product line of Caldera. Under the agreement, SCO's server software
division and professional services division will become part of a new
holding company, Caldera, Inc. |
Other Business News
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