Salt Lake-based communications satellite equipment company MotoSAT has named C. Reed Brown as president and Mark Wright as chief executive officer. Wright also was elected chairman of the board of directors.
Brown, 56, has been chief operating officer of the company for six months. Wright, 41, is chairman of Ground Control, a business specializing in mobile broadband Internet equipment, specifically, the MotoSAT DataStorm system. Wright also was president and CEO of The Grid, a California-wide Internet service provider.
Jim Pendleton, who served as president and CEO for eight years, will remain on the board.
Stocks plummet
Traders fearful of a rupture in Europe's financial system retreated Wednesday from risky investments.
Health care costs
Health care spending increased at twice the rate of inflation as hospitals and other providers raised prices, according to a recent study by Health Care Cost Institute.
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