Stocks edge higher on oil drop and HP outlook
Stocks advanced modestly as oil prices tumbled by 2.83 and Hewlett Packard Co issued a brighter outlook. The Dow rose 37.26 to 10,550.71 and the Nasdaq gained 8.09 to 2,145.15 amid renewed trader optimism.
MENTIONED IN THIS ARTICLE
Hewlett-Packard Co
U.S. pension chief warns of retirement savings shortfall
Herbert Allison, head of the Teachers Insurance and Annuity Association College Retirement Equities Fund, told about 50 at the University of Iowa that Americans are poorly prepared for retirement. He warned the nation needs a national wake-up call as health costs rise and many save nothing or too little.
MENTIONED IN THIS ARTICLE
George C. Ford
Gazette
Iowa City
America
Herbert Allison
Teachers Insurance and Annuity Association College Retirement Equities Fund
University of Iowa Tippie College of Business
Allison
United States
Lev
TIAA-CREF Chief Urges Honest Saving Shift and Tax Reform
Herbert Allison urges Americans to save more and borrow less as the nation runs over two billion dollars daily in deficits. He notes potential tax policy changes to encourage saving and discusses TIAA-CREF’s Coralville expansion and market share gains through enhanced client value.
MENTIONED IN THIS ARTICLE
Allison
Tiaa-Cref
Coralville
Tiaacref
Collins spends 196 million on stock buyback plan
Rockwell Collins repurchased 4 million shares, about 2.3 percent of outstanding stock, from UBS London at 49.10 per share for a total 196 million. The move uses an accelerated share repurchase with a future price adjustment based on up to four and a half months of trading volume weighted price.
MENTIONED IN THIS ARTICLE
Rockwell Collins
UBS AG
London
New York Stock Exchange
Maytag Delays Shareholder Meeting Over Proxy Info
Maytag Corp postpones its shareholder meeting from August 30 to September 9 to allow more time for proxy distribution. The Newton company withdrew support for Triton Acquisition’s 14 dollar per share cash offer and favored Whirlpool’s 21 dollar offer. Triton has until Sunday night to raise its bid, or the merger could be terminated and the meeting canceled.
MENTIONED IN THIS ARTICLE
Maytag Corp
Maytag
Triton Acquisition Holding
Ripplewood Holdings
Triton
Whirlpool Corp
Altoona Truck Stop Promotes Soy Diesel Blend
The Bosselman Travel Center at I 80 exit 142 east of Des Moines hosts Soy Biodiesel Appreciation Day from 10 a.m. to 2 p.m. on August 25. The site offers B2 blend since July, a 2 percent biodiesel mix, with Polk County Farm Bureau cutting soy diesel price by 8 cents per gallon. Iowa Soybean Association and Farm Bureau officials will answer questions amid refreshments.
MENTIONED IN THIS ARTICLE
Bosselman
Altoona
Des Moines
Polk County Farm Bureau
Iowa Soybean Association
Blend restaurant aims for global inspired American cuisine in Cedar Rapids
Cedar Rapids trio opens blend at 221 Second Ave SE on August 27 offering a changing monthly menu. Partners DeWitte, Deutmeyer, Kuper and Dr. Mark Young promote a unique atmosphere with a water wall, oil painting, and private dining options.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Gazette
Andy Deutmeyer
Victor Kuper
Cedar Rapids
Kuper
Blend
Second Ave
Cate
Deutmeyer
Kirkwood Community College
Young
Second Avenue
Laura Segall
the Gazette
Rick Hobson
Wholesale inflation jumps 1 percent in July
The Labor Department reports the Producer Price Index rose 1 percent in July, the largest jump in nine months. Core PPI excluding energy and food increased 0.4 percent, the highest since January, while the consumer price core rose only 0.1 percent. A key difference was in new car prices.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
Inflation reports show different price trends across stages
Producer prices fell one percent in the wholesale report, the largest one month drop in 30 years, while car prices rose 15 percent in the wholesale index. Analysts cite differing measurement stages in the supply chain and timing of incentives, with incentives captured in June wholesale data but not in the consumer report until July.
MENTIONED IN THIS ARTICLE
Consumer Report
Qwest workers approve first raise in two years
Nearly 25 000 Qwest Communications employees in 13 states reached a tentative contract that grants a 7.5 percent wage increase over three years and keeps an eight hour cap on mandatory overtime. Voting will occur in coming weeks after union briefings.
MENTIONED IN THIS ARTICLE
Denver
Qwest Communications
Communications Workers of America
Corky Cammarata
CWA
Omaha
Neb
Johnson
Iowa ranks low in cost of doing business study
A Milken Institute ranking places Iowa 48th nationally for overall business costs, with wages averaging 29 922 dollars, taxes at 56.9 percent of personal income, electricity 5.20 per kWh, office space 14.40 per sq ft, and warehouse space 2.80 per sq ft. The index weights wage cost 50 percent, taxes 20 percent, electricity 15 percent, warehouse 10 percent, and office 5 percent.
MENTIONED IN THIS ARTICLE
George C. Ford
Gazette
Iowa
Milken Institute
North Dakota
South Dakota
Hawaii
New York
Massachusetts
California
Connecticut
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