Investors pour into large caps as economy shows easing recession
Investors snapped up shares of consumer products and financial firms on signs the recession may be easing. Procter & Gamble boosted its dividend while American Express cut expected bad debt. Dow rose 109.44 to 8029.62, S&P 500 up 10.56 to 852.06, Nasdaq at 1626.80.
MENTIONED IN THIS ARTICLE
Procter & Gamble Co
American Express Co
Standard & Poor
Deere & Company seeks partial tax credit repayment for Davenport expansion
Deere & Company, based in Moline, plans to repay 1.8 million of tax credits tied to a 44 million Davenport expansion. The firm says it created 300 jobs by 2005 but doubts retaining manufacturing jobs through 2010 as required by the deal.
MENTIONED IN THIS ARTICLE
Deere & Co
Davenport
Labor voting on MidAmerican contract. workers vote this week
International Brotherhood of Electrical Workers members in about 1600 lines readers vote on a proposed MidAmerican Energy contract as the current deal nears its April 30 expiry. The union may face a possible lockout, with results due Friday after voting runs Monday through today.
MENTIONED IN THIS ARTICLE
Electrical Workers
International Brotherhood of Electrical Workers Union
MidAmerican Energy
MidAmerican
Ann Thelen
Alliant revising estimated bill formula after complaints
Alliant Energy will undo changes to its estimated billing formula after about 65 complaints to the Iowa Utilities Board regarding high bills from estimated readings. The company will restore the prior method, adjust the customer usage factor, and has hired more meter readers to improve accuracy.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Gazette
Alliant Energy
Alliant
Iowa Utilities Board
Ryan Stensland
Allianz
Chuck Seel
Seel
Stensland
All Utilities
Airport upgrades at Eastern Iowa Airport in Cedar Rapids
Construction on the lower level entrance parking area at The Eastern Iowa Airport will block some spots and add two new doors as part of a $1 million capital improvement including Concourse C renovations. Work by Kleiman Construction keeps the lower entrance open with completion targeted for mid July.
MENTIONED IN THIS ARTICLE
George C. Ford
Gazette Edar Rapids
Eastern
Iowa
Renova
Ree Gazette
Alan Bird
Cedar Rapids
Brian van Thournout
Newhall
Dan Ragsdale
Watkins Elevator Licenses Revoked and Iowa Grain Elevator Closes
Watkins Elevator Inc. surrendered its grain dealer license and its warehouse operator license was revoked after a June flood and weak economy. The firm cites business disruption and volatile prices, closing after 19 years in Watkins, Iowa. Claims against the elevator must be filed by Aug 12 with both the company and the Iowa Grain Warehouse Bureau.
MENTIONED IN THIS ARTICLE
George C. Ford
the Gazette
Iowa
Watkins Elevator Inc
Liberty St
Grain Warehouse Bureau
Iowa Department of Agriculture and Land Stewardship
Watkins Elevator
Blairstown
P.O. Box 170
Watkins, IA
Junk bonds carry risk and rising defaults warned by experts
Ed ward Altman of NYU Stern cautions investors about junk bonds amid lofty yields around 17 percent. He predicts default rates could reach 12.3 to 18.3 percent, with recoveries near 25 cents on the dollar, and warns of lax lending practices returning bondholders to losses.
MENTIONED IN THIS ARTICLE
Edward Altman
New York University Stern School of Business
Altman
CFA Institute
Chicago
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Deere
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LABOR
Heartland Express
Heartland Express Inc
North Liberty
New York Mercantile Exchange
Energy Information Administration
Iowa Energy Assistance Bureau
Jerry McKim
David, Dewitte
Gazcomm.com
Mann
The
Commission
Transportation Security Administration
George
Ford
Asiarek
the F
Wallace State
Des Moines
Iowa Grain Depositors and
George.ford
Gail Marks Jarvis
Chicago Tribune