Wall Street edges higher as tech falters amid earnings selloff
Wall Street failed to gain traction as earnings fears lingered. The Dow rose 29.71 to 9515.42 while the Nasdaq fell 34.20 to 1638.80. ADM unveiled a green leaf logo replacing its four circles, Wells Fargo CFO Ross Kari to step down, and Rockwell will exit a News Corp in-flight JV with a $16 million write-off.
MENTIONED IN THIS ARTICLE
Wall Street
New York Stock Exchange
Iowa
Rockwell
Union
U.S. Cellular
Archer Daniels Midland
ADM
Supermarket
Wall Street Journal
USA Today
Wells Fargo & Co
Ross Kari
California
Kari
Wells
Norwest Corp
San Francisco
Rod Jacobs
Jacobs
Wells Fargo
Tri/Mark Corp. terminates about 20 workers
Tri/Mark Corp of New Hampton dismissed roughly 20 employees amid a downturn in the economy. The latches and handles maker said markets remain soft for months and that directors cut 7 percent of the workforce from manufacturing to management.
MENTIONED IN THIS ARTICLE
Tri/Mark Corp
New Hampton
Northwest Air Starts Management Layoffs Amid Cost Cuts
Northwest Airlines began laying off management staff as part of a previously announced plan to cut costs. CEO Richard Anderson had said the company aims to cut 5 percent of management payroll and defer merit increases for officers and directors until February next year. The layoffs are part of revenue-enhancing initiatives totaling over 200 million dollars.
MENTIONED IN THIS ARTICLE
Northwest Airlines
Doug Killian
Richard Anderson
Northwest
Grassley wins farm aid vote amid Medicare raid clash
Senator Grassley wins tentative approval for 63 billion in farm aid over a decade drawing a protest from Senator Harkin who accuses the move of raiding Medicare. The vote, 51-49, followed last minute lobbying by Kyl and McCain against perceived pork barrel spending.
MENTIONED IN THIS ARTICLE
Washington
Chuck Grassley
Iowa
Tom Harkin
Harkin
Grassley
Jon Kyl
Ariz
Kyl
Arizona
Sen
John McCain
McCain
Recycling Challenge highlights Iowa business waste cuts
Fifteen Eastern Iowa businesses shared their recycling stories at the inaugural Recycling Challenge in Cedar Rapids. Rockwell Collins reported annual disposal reductions and large-scale reuse efforts, while Ox Yoke Inn and D and D Ranch showcased waste diversion projects. WorldCom described grant aided efficiency, and attendees included local auto dealers and firms starting programs.
MENTIONED IN THIS ARTICLE
Darrell Brotherson
Rockwell Collins
Cedar Rapids
Rhonda Bradley
Allen Motor Co
Collins Plaza Hotel & Convention Center
Bradley
Swisher
D & D Ranch
Ing
Darrell Brothersen
Brothersen
Excel delays $100 million Iowa beef plant project
Excel Corp and the Iowa Cattlemen's Association defer a planned $100 million beef packing plant in Mason City amid higher startup costs and market slowdown. Spokesman Mark Klein says the project remains exciting and could proceed in the future, with focus on premium beef offerings and closer producer processor collaboration.
MENTIONED IN THIS ARTICLE
Mason City
Excel Corp
Iowa
Mark Klein
Klein
Excel
Iowa Cattlemen’s Association
Joel Brinkmeyer
ICA
Vito's to reopen after seven month fire shutdown
IOWA CITY Vito's restaurant and bar at 118 E College St will begin serving food again Monday after a September 18 fire destroyed the kitchen and caused extensive smoke damage. Co owner Aziz Longou says insurance covered repairs and lost revenue as the revamped kitchen and menu prep for a return with revised salads wraps and entrées.
MENTIONED IN THIS ARTICLE
E. College St
Longou
Vito’s
Longon
Final days near for C R airport parking survey
Cedar Rapids airport seeks traveler input on future parking at The Eastern Iowa Airport via an Internet survey. About 300 participants have responded. results will be shared at the April 23 commission meeting.
MENTIONED IN THIS ARTICLE
Pam Hinman
Larry Mullendore
Sunjet
Las Vegas
Cancun
Ament Inc
Cedar Rapids
Also Mentioned on This Page
Rockwell International Corp
News Corp
Don McGrath
McGrath
Djia
Northwest Air
BizFacts
Hisar
GOP
Bush
Freedom To Farm
E. Michael Myers
Emmva
Aol
E. Iowa
By Dave DeWitte
WorldCom
Bluestem Solid Waste Agency
Iowa Waste Reduction Center
University of Northern Iowa
The
Iowa Waste Exchange
Mike Berkshire
Bluestem
David DeWitte
Davidd
Japan
I.C
C.R
George C. Ford
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