Wall Street hits four digits as S P 500 rises above 1000
The S P 500 clears 1000 for first time since November as manufacturing, construction, and banking data boost optimism. Dow up 114.95 to 9286.56. Nasdaq above 2000. SEC seeks over 22 million from former Kmart CEO Charles Conaway for misleading investors. Tyson Foods posts solid Q3 with 134 million profit as chicken sales rise despite overall slower sales.
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Standard & Poor
S&p
Cash for Clunkers profits stall as funding dries up
Dealers face a fading window as Congress exhausts the one billion allotted and debates a new two billion extension. In Iowa City area, Wright and others rush to call buyers while government checks remain uncertain, with some 20 to 30 deals per dealer typical and a few over 100. The program’s impact includes nationwide sales gains and higher fuel economy figures, despite administrative chaos.
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Ine Gazette
Miller
Nissan
Ed Dave Wright
Wright
Congress
Senate
Iowa
Iowa Auto Dealers Association
Gary Thomas
Clunker
Thomas
Daryl Bulle
Toyota Scion
Iowa City
Bulle
Toyota-Scion
Ford Motor Co
U.S
White House
Grovert Chevrolet
Bill Grovert
Grovert
Junge Center Point
Ford Jeep Chrysler Dodge
Center Point
Midwest economy on the mend but Iowa slips
A nine state Mid-America Business Conditions index rose to 51.7 in July from 49.3, signaling expansion for the first time in almost a year. Iowa’s index eased to 49.8 as weak production and employment factors weighed, with Goss predicting higher unemployment into late 2009 and slower durable goods job losses.
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Midwest
Iowa
Omaha
Neb
Plains
Mid-America
Creighton University Economics
Goss
Cool weather slows Iowa crops with late milestones
The Iowa Crops & Weather report shows corn and soybean development lagging due to unusually cool temperatures. Across the state, average temps ran 6.6 degrees below normal and precipitation was 0.48 inches for the week, with corn at the milk stage 24 percent and dough at 2 percent, while soybeans behind five-year averages on pod set and bloom. The crop condition rankings placed corn at 49 percent good and 29 percent excellent, with soybeans at 23 percent excellent and 54 percent good. Farmers logged 5.8 dry field days as alfalfa second cut reached 80 percent, and hail winds in NE Iowa caused isolated damage.
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Dave DeWitte
Gazette
Iowa Crops & Weather Report
National Agricultural Statistical Service
Iowa
Bank of America settles charges over bonuses
Bank of America Corp agreed to pay a 33 million dollar penalty to resolve SEC charges that it misled investors about Merrill Lynch's planned executive bonuses. The bank authorized bonuses up to 5.8 billion dollars while telling buyers the Merrill deal would not include year end bonuses without consent. The SEC said the statements were materially false and misleading. The bank settled without admitting or denying the allegations.
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Washington
Bank of America Corp
Merrill Lynch
Merrill
Bank of America
Securities and Exchange Commission
SEC
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Wall Street
Federal
Kmart
Kmart Corp
Charles Conaway
U.S. Securities and Exchange Commission
Conaway
Ann Arbor
Mich
Alan Lieberman
Tyson
Tyson Foods Inc
Springdale
By Dave DeWitte
David. Dewitte
Gazcomm.com
Jim Slostarek
the Gazette
Ernie Goss
Steve Davis
Baldor Electric Co
St. Louis
David .Dewitte