Market rally lifts Dow 139 points as gains spread
Stocks soared with the Dow Jones up 139.80 to 8714.65 extending a rebound from a week earlier. Advancers outpaced decliners two to one on the NYSE as volume rose to 828.97 million shares, with several Iowa equities posting gains and Deere & Co reporting higher earnings but signaling farm demand softness ahead. MidAmerican Energy Holdings buys Omaha brokerages and Coca CBS HOME Real Estate forms a merged firm with 560 agents. Deere plans further cuts and a 5,000 layoffs idle at Waterloo, signaling a leaner fourth quarter and next year.
MENTIONED IN THIS ARTICLE
Dow
Dow Jones
New York Stock Exchange
Iowa
AEGON
MCI
General Electric
Eastman Kodak
General Mills
Norwest
Wal-Mart
MidAmerican Energy Holdings Co
Des Moines
Omaha
Home Real Estate
CBS Real Estate Co
CBS Home Real Estate
MidAmerican Energy Holdings
Deere & Co
Moline
Deere
United States
Waterloo
Treasury Bills See Mixed Auction Results
Treasury auctions on Monday showed three month bills at an average discount of 4.910 percent with a $10,000 bill priced at $9,875.90 and six month bills at 4.945 percent for $9,750.00. The new yields imply 5.040 percent and 5.142 percent respectively. The Fed reported one year bill yields fell to 5.23 percent from 5.31 percent.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Federal Reserve
52-week T-bill rate drops to seven month low
The 52-week Treasury bill auction yielded a 5.000 percent average discount rate, down from 5.095 percent. It marked the lowest since January 29, with an equivalent coupon of 5.271 percent and a $9,494.40 price per $10,000. Total sales reached $10 billion from $33.1 billion in bids.
MENTIONED IN THIS ARTICLE
Treasury
Rockwell Collins Sells Railroad Electronics to Westinghouse
Rockwell Collins agrees to sell its Railroad Electronics division to Westinghouse Air Brake Co for 80 million dollars. Rockwell Railroad Electronics in Cedar Rapids employs 76 and the Kansas City unit has 90. the division designs electronic braking systems and monitoring tech for locomotives and right of way. Westinghouse Air Brake, based in Wilmerding PA, plans to announce the number of Rockwell employees affected within 10 days and may relocate to Cedar Rapids or Kansas City. The deal follows Rockwell International's plan to phase out railroad electronics and related units, with 1998 revenue guidance around 44.5 million dollars.
MENTIONED IN THIS ARTICLE
Wilmerding
Westinghouse Air Brake
Rockwell Railroad Electronics
Cedar Rapids
Kansas City
Rockwell
Westinghouse Air
William Kassling
Grinnell teen wins grand champion with two different animals
Grinnell 19 year old Troy Schilder made Iowa State Fair history by winning grand champion with a 130 pound market lamb after earlier taking grand champion with an FFA market dog. He is the first to win grand champion awards with two distinct animals in the fair's 144 year history.
MENTIONED IN THIS ARTICLE
DES Moines
Troy Schilder
Schilder
Grinnell
FFA
State Fair
Kathie Swift
US West union resumes talks after 34 thousand-strike
Negotiators for US West Inc and the Communications Workers of America plan to resume bargaining four days after a nationwide strike idled about 34 000 workers in 13 states. Both sides accuse each other of unfair labor practices while seeking a settlement on overtime health care and bonus pay.
MENTIONED IN THIS ARTICLE
Denver
Colo
US West Inc
Jim Mahon
US West
Communications Workers of America
National Labor Relations Board
Bill Thornburg
David Beigie
Cedar Rapids
Waterloo
Dubuque
Iowa City
Coralville
Davenport
Des Moines
Eric Orton
Marie Duffield
Bergie
At&t
Retiring Hawkeye Labor Council Official Bob Carson
Bob Carson of Cedar Rapids longtime Hawkeye Labor Council executive secretary since 1972 after earlier coordinator post in 1966 announces retirement due to health tests for possible heart transplant. The 63 year old labor advocate who joined the council in 1966 and faced multiple heart issues and surgeries remains to be replaced after a one month application period and a decision on a new director. Last week delegates at the state labor convention endorsed him for the Labor Hall of Fame.
MENTIONED IN THIS ARTICLE
Dale Kueter
Jazette
Iowa
Bob Carson
Cedar Rapids
Labor Hall of Fame
Carson
Hawkeye Labor Council
University of Iowa
The
Mark Smith
Iowa Federation of Labor
Federal Reserve Holds Short-Term Rates at 5.5 Percent
The Federal Open Market Committee kept the federal funds rate at 5.5 percent after a three hour session. Analysts expect possible cuts next year as inflation stays contained but domestic growth risks rise amid Asia and Russia crises.
MENTIONED IN THIS ARTICLE
Washington
Asia
Russia
Federal Reserve
Fed
Federal Open Market Committee
U.S
America
Northwest raises advance purchase fares as pilots bargaining heats
Northwest Airlines boosted its 14 and 21 day advance purchase and sale fares by 4 percent Monday night, with other major carriers quickly matching. The move comes during contract talks with the Air Line Pilots Association and a looming strike deadline of August 28, while negotiations continue with five other unions. Northwest previously declined to match rival leisure and business fare hikes.
MENTIONED IN THIS ARTICLE
Minneapolis
Northwest Airlines
Northwest
Jon Austin
Air Line Pilots Association
Also Mentioned on This Page
MidAmerican
Rockwell Collins
Westinghouse
Railroad Electronics Division
George C. Ford
Jack Cosgrove
Grinnell Man
Iowa State Fair
Wynonna and
Sawyer Brown
Miller Lite
J&M_ Displays
Shropshire Sheep
Hampshire Sheep Sheep Barn
Society Horses West Arena
Society Horses Pioneer Pavilion
C.R. Labor
Hawkeye
Iowa City High School
Cryovac Co
Iowa Federation of Teachers
Labor Council
Hotel, Restaurant and Bartender Workers Union
Japan
Life Investors Strelger Agency
Life Investors Insurance Company OF America
InterSecurities, Inc
River Ridge Drive
Gazette
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