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Habitat holds Green sale, Select Mattress Firms to feature Purple, Zions Bancorporation simplifies structure

November 24, 2017 GMT

Habitat ReStores holding ‘Green’ Saturday sale

To celebrate Thanksgiving weekend, Utah County Habitat for Humanity ReStores will be holding a “Green” Saturday Sale from 10 a.m. to 6 p.m. Saturday at its Orem and Spanish Fork locations. Everything in the stores will be 10 percent off.

The home improvement outlets sell new and used building materials, appliances, and furniture at a discount to the public to help raise money to further the local Habitat’s affordable housing mission in the community. Both ReStores recently received some new Christmas inventory as well. The Orem location is at 340 S. Orem Blvd., and the Spanish Fork store is at 253 W. Arrowhead Trail.

Purple mattresses headed to some Mattress Firm locations

Purple Innovation, the Alpine comfort technology company known locally as Purple, kicked off its blended channel strategy by launching Purple mattresses into a selected number of Mattress Firm locations across the country.

Purple’s mattresses will initially be offered in 13 retail stores throughout Washington, D.C., followed by additional launches in Austin, Texas and Sacramento, California. These locations were chosen by Mattress Firm based on consumer research, which will also inform future locations and launches.

“They are laser focused on helping people find a bed perfectly suited to their needs,” said Sam Bernards, CEO at Purple, of Mattress Firm. “That passion makes them an exciting distribution partner for us.”

These Mattress Firm locations will also be the first to pilot Purple’s next generation of mattresses, which will include the company’s signature, super-durable hyper-elastic polymer material. The new mattresses will also include innovatively designed, fully pocketed coils tuned to work with Purple’s patented hyper-elastic polymer material.

“From the start, Purple has been resolute on providing the most comfortable and supportive mattresses on the market,” said Bernards. “We continue to improve our mattresses to help people feel better and reduce uncomfortable pressure using our proven sleep science, which is revolutionizing the mattress industry. We’re excited to roll out this new blended channel approach and to help people sleep better all over the country.”

Zions Bancorporation to simplify its structure

Zions Bancorporation announced its intention to streamline its corporate structure by merging the parent company into its banking subsidiary, ZB, N.A or one of its subsidiaries. The resulting entity will bear the name Zions Bancorporation, N.A. and will continue to operate with its existing local brand names and management teams in markets throughout the western United States.

“Historically, Zions Bancorporation operated as a multi-bank holding company with separately chartered banks in each of several western states. In late 2015, we consolidated our seven banks under a single national bank charter as part of a larger effort to simplify our business operations. We now conduct essentially all our business under that single national bank charter. We believe the logical next step in rationalizing and simplifying our business is to eliminate our holding company, an entity which is no longer necessary in serving customers and providing for the needs of investors,” said Harris H. Simmons, chairman and CEO of Zions Bancorporation.

Concurrently with the simplification of its corporate structure, Zions will file an application with the Financial Stability Oversight Council, or the FSOC, seeking a determination that the resulting banking organization is not “systemically important” as defined by provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Zions expects to initiate the filings and other actions required in connection with this project before the end of the year. Assuming a favorable result from the FSOC, receipt of required regulatory approvals and an affirmative vote by shareholders, Zions expects to consummate the transaction within six months from the date the appeal request is filed with the FSOC, provided that Congressional hearings are not held under Section 117( c )(2)(b)(ii) of the Dodd-Frank Act. Zions Bancorporation is a major financial services company with total assets exceeding $65 billion.