Markets Slip and Denver Airport Signs Baggage Contract
Stocks fell as fears of higher rates and weak Treasury auctions pressured the market with the Dow down 15.86 to 3750.90 and NYSE volume at 275.67 million shares. Denver officials signed a $26.38 million deal with Rapistan Demag to design a conventional baggage system for DIA, aiming for completion by December 31.
MENTIONED IN THIS ARTICLE
Treasury
Dow Jones
New York Stock Exchange
Iown
HON Industries
Noland
Denver
Michigan
Denver International
Rapistan-Demag of
Grand Rapids
Briggs Gamblin
Wellington Webb
Gamblin
BAE Automated Systems Inc
IRS clarifies service club deductibility
The IRS proposed regulation preserves deductibility of dues to public service clubs like Lions Rotary and Kiwanis. Deductions had been in doubt after a budget act barred deductions for social clubs unless a business benefit was shown. Under the proposal dues remain deductible if the club’s principal purpose is public service.
MENTIONED IN THIS ARTICLE
Washington
The
Lions
Rotary
Kiwanis
Internal Revenue Service
Congress
Rotary Club
Bar and Medical Associations
Treasury Department
IRS
Iowa poised for nation leading corn and booming soybeans
USDA projects Iowa soybean harvest of 389 million bushels and corn near 1.80 billion, driven by a record 8.9 million acres planted. Yields rise to 44 bushels per acre for soybeans and 145 for corn, signaling a sharp rebound from 1993 floods and a near record national crop.
MENTIONED IN THIS ARTICLE
Des Moines
Norwest Mortgage Inc
Michigan National Corp
Michigan National
Norwest Mortgage
Norwest Corp
Minneapolis
EL Moines
Iowa
Illinois
U.S. Department of Agriculture
Daren Miller
Dumont
USDA
U.S
Bill Horan
Rockwell City
Horan
Iowa Corn Growers Association
Soo Line
National Farmers Organization
NFO
Iowa farmers face low grain prices despite improving floods relief
Iowa farmers watch prices slump as post flood highs fade. Elevators bid about 2.00 a bushel for corn and 5.40 for soybeans while 99 percent of Iowa’s soybeans and all corn remain in good or excellent condition. Some growers doubt a full recovery until crops are sold and profits known.
MENTIONED IN THIS ARTICLE
Associated Press
Roger Stocker
Farragut
Bill Horan
Rockwell City
Iowa Corn Growers Association
Iowa Agricultural Statistics Office
Iowa
Stocker
Extension Service
Iowa State University
Mike Pieper
Wever
Skunk
Mississippi
Pieper
Fed rate fears drag down 30-year bond sale
Weak demand at a government 30-year Treasury auction followed inflation and retail data stirring bets of another Fed rate hike. Long bond prices slid while yield rose to 7.65 percent, and overall yields on shorter bills increased as investors awaited further rate action.
MENTIONED IN THIS ARTICLE
NEW York
Federal Reserve
Treasury
Fed
Joe LaVorgna
UBS Securities
Union Bank of Switzerland
Allstate expands credit checks for auto insurance applicants
Allstate uses routine credit checks on new auto insurance applicants in at least 36 states to weed out bad risks and may extend the practice to home owners policies. The insurer says credit history correlates with accident likelihood, while consumer groups fear wider cherry picking and higher costs for many customers.
MENTIONED IN THIS ARTICLE
Hartford, Conn
Allstate
Sears, Roebuck and Co
Greg Haddad
Connecticut Citizen's Action Group
Washington State
al Orendorff
Haddad
Also Mentioned on This Page
Collins
Rockwell
Collins Commercial
Cedar Rapids
Union Pacific Railroad
Electro-Motive Division
General Motors
Money
By Steven P. Rosenfeld
Gazette Graphi
Marion
Alburnette Hiawatha
FDIC
Sprint Cellular Line
FCNE
Radon Coalition
Daec Line
Kelly Services
Dean Edel
KCRG
Midwest
Travel Weather
Trail Blazers
Cityline
Ine Gazette Ocityine
Kcck-Fm
Jazz Line
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