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CNBC takes viewers on a deep dive into Salt Lake City's booming banking sector. The city's exceptional growth in finance can be traced back to an early catalyst: industrial banking. This little-known type of banking institution allows nonfinancial companies, such as car manufacturer BMW , to own its own bank. Utah is home to most of America's industrial banks, with 15 of the nation's 23 located in Salt Lake County — a concentration unmatched anywhere else in the country. Jason Kotter, a professor of finance at Brigham Young University, explains the role of industrial banks, how they function, and why they've been key to Salt Lake City's rise as a major financial powerhouse.

Persons: Jason Kotter, they've, CNBC's Carl Quintanilla, Ryan, Ashley Smith, Former Utah Governor Michael Leavitt, Wade Sherman, Larry Miller, Steve Starks, Goldman Sachs, John Waldron, Vivint, Todd Pedersen, Maven, Tessa Arneson, Rocky Donati, Entrata, Catherine Wong Organizations: CNBC, BMW, Brigham Young University, Smith Entertainment Group, Former Utah Governor, Adobe VP Locations: Salt, Utah, Salt Lake County, Salt Lake City

☆ How the Olympics helped transform Salt Lake City into a tech hub
▼ + stars: | 2024-12-10 | by ( Chris Dilella | ) www.cnbc.com time to read: +5 min

Spectators file into the Olympic Medal Plaza in downtown Salt Lake City, Utah, during the 2002 Olympics. Salt Lake City has grown from a winter sports venue to a vibrant technology hub in just two decades, leveraging the legacy of the 2002 Winter Olympics to transform into one of America's fastest-growing business destinations. A catalyst for economic growthIn 2002, the world watched as Salt Lake City welcomed athletes and spectators to the Winter Olympics. Salt Lake City's 2002 Olympics cost about $2 billion and turned a profit. During preparations for the Olympics, Leavitt met with Adobe co-founder and Salt Lake City native John Warnock in Silicon Valley to discuss building a tech community in Utah.

Persons: George Frey, Michael Leavitt, Leavitt, Todd Lodwick, Anacleto, John Warnock, Warnock, what's Organizations: AFP, Getty, Census Bureau, Former Utah Gov, CNBC, Winter, Games, University, Utah's, Gardner Policy Institute, Gardner Institute, Olympic Rings, Nordic, Los Angeles Times, Olympics, Adobe, Engineering, Computer Science Initiative Locations: Salt Lake City , Utah, CNBC's, Salt Lake City, Kearns , Utah, Utah, Silicon Valley

☆ Trump’s new chief of staff is an unassuming figure in his brash inner circle. She’s also one of its most effective operators.
▼ + stars: | 2024-11-09 | by ( Steve Contorno | ) edition.cnn.com time to read: +12 min

Neither Wiles nor Trump’s transition team immediately responded when asked if Wiles would soon step away from her position at Mercury. “The clown car can’t come into the White House at will,” the source said. She worked on Ronald Reagan’s 1980 presidential campaign and then in his White House. He then gave her nearly unfettered leeway to operate his Florida campaign as she saw fit. Florida Sen. Marco Rubio posted on social media: “President Trump has chosen a strong, intelligent woman to serve as White House Chief of Staff.”

Persons: Donald Trump, America’s, –, Dana White –, Susie Wiles, Wiles, Trump’s, Trump, Susie, ” Trump, ”, Chris LaCivita, ” Michael Caputo, ‘, —, Jared Moskowitz, Charlie Kirk, Kevin McCarthy, “ Susie Wiles, ” Kirk, doesn’t, John Kelly, Reince Priebus, you’ve, Kelly, Mick Mulvaney, Mark Meadows, Pat Summerall, Jack Kemp, Kemp, Ronald Reagan’s, Rick Scott, Jon Huntsman, Huntsman, Mitt Romney, Brian Ballard, Jeb Bush, Marco Rubio, “, Ron DeSantis, DeSantis, James Blair, Blair, Mark Cuban, Florida Sen Organizations: Palm Beach , Florida CNN, Fighting, White, Trump, CNN, Mercury, Swisher International, Ballard Partners, carmaker, Motors, Military Management, Children’s Hospital Association, Staff, US Capitol, of Justice, Sunshine State, NFL, Rep, New York Giants, Utah Gov, Florida, Republican, Electoral College, Republicans Locations: Palm Beach , Florida, Pennsylvania, Washington, Mar, Florida, DC, America, Trump, Jacksonville, Manhattan

☆ 'No Labels' has now officially become a political party in Kansas, paving the way for a third-party candidate
▼ + stars: | 2024-01-18 | by ( Madison Hall | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAs of Wednesday, "No Labels" has officially been recognized as a political party in Kansas, further paving the way for a candidate to make a third-party presidential run this cycle. With its recognition in Kansas, the No Labels party will now be on the ballots of at least 12 states, though the party's yet to endorse a candidate publicly. In a report published Thursday by the Allbritton Journalism Institute's "News of the United States," No Labels leader and former Democratic Missouri Gov. Jay Nixon suggested that while Republican Trump supporters attacked the Capitol in 2021, "Democrats are contributing" to the country's worsening political rhetoric.

Persons: —, Sen, Joe Manchin — who's, Joe Manchin, Donald Trump, Joe Biden, Dean Phillips, Jon Hunstman, it's, Donald Trump's, Trump, Jay Nixon, Nixon, Chuck Schumer's, John Fetterman Organizations: Service, Business, Democratic, Republican, Utah Gov, Democratic Missouri Gov, Republican Trump, Capitol Locations: Kansas, Utah, United States

☆ Ron DeSantis looked 'like he's having a colonoscopy live on stage' at the 3rd debate, 2012 GOP candidate says
▼ + stars: | 2023-11-10 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +2 min

Former Utah Gov. Jon Huntsman Jr. had an unflattering view of Ron DeSantis's 3rd debate performance. The former 2012 GOP candidate said DeSantis "looks like he's having a colonoscopy live on stage." AdvertisementAdvertisementFormer Utah Gov. "Why does DeSantis looks [sic] like he's having a colonoscopy live on stage?"

Persons: Jon Huntsman Jr, Ron DeSantis's, —, Ron DeSantis, Huntsman, Republican who's, Donald Trump, Nikki Haley, she's, DeSantis Organizations: Utah Gov, GOP, Trump, Service, Florida Gov, Republican, Deseret, South Carolina Gov Locations: Utah, Russia

☆ Mormon church sued again over how it uses tithing contributions from members
▼ + stars: | 2023-11-01 | by ( ) www.cnbc.com time to read: +4 min

The Church of Jesus Christ of Latter-Day Saints, historic Mormon Salt Lake Temple is shown here with Christmas light display in Salt Lake City, Utah. The church agreed to pay $1 million and Ensign Peak will pay $4 million. Their lawsuit seeks class-action certification, potentially involving millions of church members, and an independent entity to oversee collection and use of church donations. Ensign Peak has spent funds only twice in its 26-year history, according to both lawsuits. From 2010-2014 it put $1.4 billion to build a mall near Temple Square in downtown Salt Lake City.

Persons: of Jesus Christ, doesn't, James Huntsman, Jon Huntsman, Jr, didn't, Huntsman's, Daniel Chappell, Masen Christensen, John Oaks, Huntsman, David Nielsen, Ensign Peak Organizations: of Jesus, Utah Gov, U.S . Securities, Exchange Commission, Corporation of, Advisors, U.S . Senate, U.S, Ninth Circuit Locations: Salt Lake, Salt Lake City , Utah, U.S, Salt Lake City, California, Virginia, Utah, Temple

☆ Who Decides Penn’s Future: Donors or the University?
▼ + stars: | 2023-10-26 | by ( Stephanie Saul | More About Stephanie Saul | ) www.nytimes.com time to read: +8 min

“The conference became a vehicle.”It is not unusual for donors, unhappy with student activism, to pull back giving. “It’s essential that the university remains independent from donor pressure or influence on the content of work that’s done in the university,” said Ms. Lieberwitz, who is also general counsel for the American Association of University Professors. “Very broadly, I am deeply committed to academic freedom,” Ms. Magill had told The Daily Pennsylvanian, the campus newspaper. Alumni Donors Push BackOne day after the Indigenous Peoples’ Day post, Ms. Magill issued her first statement condemning the Hamas assault. Some Wharton alumni had been unhappy with the university’s direction for a long time.

Persons: —, Lauder, Jon Huntsman, Dick Wolf —, Rowan, ”, Robert Vitalis, “, George W, Bush, Penn, Risa L, Lieberwitz, Magill, Ms, Amy Wax, Penn Hillel, Viet Thanh Nguyen, Israel, Roger Waters, Susan Albuhawa, Critics, ” Mr, Wharton, Jonathan S, Jacobson, Lia Thomas, Erika James, Ross Stevens, University of Chicago’s Booth, Stevens, Booth Organizations: “, East Center, University of Texas, Austin, University of Denver, Palestinian, U.N, Cornell, American Association of University, Edge, University of Virginia, Daily, university’s College of Arts and Sciences, Penn, Pink Floyd, Indigenous Peoples, Wharton, HighSage Ventures, Management, University of Chicago’s Locations: Utah, Penn, Israel, Yom Kippur, Nazi, Berlin

☆ Opinion: Why student protests against Israel are so painful, polarizing and complicated
▼ + stars: | 2023-10-18 | by ( Opinion Nicole Hemmer | ) edition.cnn.com time to read: +9 min

Student radicals have been targets of condemnation since at least the early 1960s, when they experimented with new forms of protest against anti-Black racism, the Vietnam War, poverty and censorship. “I think they oughta shoot ‘em if they’re carrying the Vietcong flag,” actor John Wayne said of the protests. In the 1960s, student radicals occasionally waved the Viet Cong flag to show solidarity with the people of Vietnam. But students did have the power to disrupt, to grab camera time and to create the iconic imagery of an era. You may hate these student activists’ words and actions, but they’re not the ones with the power here.

Persons: Nicole Hemmer, Carolyn T, Robert M, “, Who, Stanford ”, ” Nicole Hemmer, Bill Ackman, —, Victoria’s, Leslie Wexner, Abigail, Jon Huntsman, Huntsman, John Wayne, it’s, Mao Zedong, Richard Nixon, Ronald Reagan, Israel, Christopher Rufo, they’re Organizations: Rogers Center, Vanderbilt University, “ Partisans, Conservative, CNN, “, Harvard, Hamas, University of Pennsylvania, Huntsman Foundation, Utah Gov, Penn, Democratic Party, Capitol, United, Getty, Viet, Universities, Police, National Students for Justice, Israel, Democratic Socialists of America Locations: Israel, Gaza, Vietnam, Iraq, Washington, United States, AFP, firefights, Viet, Viet Cong, California, Palestine

☆ Trump vows to strip student visas from 'anti-Semitic foreigners' at US colleges if he wins the 2024 election
▼ + stars: | 2023-10-17 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Trump said he would revoke student visas of "anti-Semitic foreigners" if he wins a second term. The war between Israel and Hamas has prompted calls to get humanitarian aid to Palestinian civilians. Last week, Israel officially declared war against Palestinian militant group Hamas after the group attacked several towns in southern Israel. "Under the Trump administration, we will revoke the student visas of radical anti-American and anti-Semitic foreigners at our colleges and universities and we will send them straight back home." "In the long run, the best way to aid the Palestinian people is for Hamas to be completely destroyed."

Persons: Trump, —, Donald Trump, Israel, Sen, Marco Rubio, Joe Biden, Ron DeSantis, Joe Biden's, Bill Ackman, wouldn't, Les Wexner, Jon Hunstman's, Biden, GOP Sen, Tom Cotton Organizations: Service, Palestinian, Hamas, Florida Gov, NYU, Harvard, Former Utah, University of Pennsylvania, Democratic, GOP, House Democrats Locations: Gaza, Israel, Iowa, Egypt, Palestine

☆ Satanic panic is making a comeback, fueled by QAnon believers and GOP influencers
▼ + stars: | 2022-09-15 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Brandy-Zadrozny-Circle-Byline-Template.Jpg | Brandy Zadrozny | ) www.nbcnews.com time to read: +23 min

Utah County Attorney David O. Leavitt speaks on July 31, 2019, in Provo. The accusations were part of a new case from Utah County Sheriff Mike Smith. Discussion about satanism and satanic abuse has increased in recent years, according to data provided to NBC News by Zignal Labs, which analyzes social media conversations. Popular culture and social media have also ferried ideas about satanism and widespread child abuse from fringe to the mainstream. (Anti-LGBTQ politicians and activists have equated LGBTQ people with predators who abuse children as part of a “gay agenda,” the well-worn panic that the gay rights movement’s true motivation is recruitment.

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