Stocks Dip After Bank of America Warning Hit Dow
Markets slid on Wednesday as Bank of America warned of lower earnings. The Dow fell 234.34 to 10,664.38 while the Nasdaq dropped 93.30 to 2,796.50. Decliners outpaced gainers 3 to 2 on the NYSE with 1.67 billion shares. In Eastern Iowa, 25 stocks fell, 17 rose, two unchanged. Heinz dropped 2.56 to 5.6 percent after Bear Stearns downgrade. Telecom shares rose with McLeodUSA up 0.37 to 14.81 and WorldCom up 0.43 to 15.12.
MENTIONED IN THIS ARTICLE
Bank of America
New York Stock Exchange
Iowa
H.J. Heinz
Bear Stearns
McLeodusa
WorldCom
NCS Pearson names promotions in Assessments and Measurement units
Gary Mainer is promoted to president of Assessments and Testing Services while Steve Kramer becomes vice president and general manager of the Measurement Services Division in Iowa City. Mainer’s team has more than doubled revenues, and he succeeds David W. Smith as CEO. Kramer has 15 years with NCS Pearson, most recently as Iowa Shared Services director. Apple posts quarterly loss and warns of substantial shortfall versus expectations due to PC sales slowdown.
MENTIONED IN THIS ARTICLE
Gary Mainer
NCS Pearson
Steve Kramer
Iowa City
Mainor
Dataserv Inc
Kramer
Apple Computer Inc
Wall Street
Apple
Steve Jobs
Fed notes slower economy with weak auto and housing markets
The Federal Reserve reported signs of slower economic growth in November with weak auto sales manufacturing and single family home construction. Inflation remained subdued while consumer spending slackened. Separately the CPSC recalled about 16 000 Pacee pacifiers from Small Beginnings Inc of Hesperia California for choking hazards sold nationwide October 1999 through April with refunds offered to consumers.
MENTIONED IN THIS ARTICLE
Federal Reserve
Central Bank
Fed
U.S. Consumer Product Safety Commission
Pacee
Small Beginnings Inc
Hesperia
Calif
Commission
Alaska firms plan joint natural gas pipeline to North America
BP Exploration Alaska Phillips Alaska and Exxon Mobil Corp announce a joint plan to build a pipeline delivering North Slope gas to Canada and the lower 48. Costs and management will be shared. other companies may join later. The effort focuses on design costs permitting and viability amid rising gas prices.
MENTIONED IN THIS ARTICLE
Alaska
Canada
BP Exploration (Alaska) Inc
Phillips Alaska
Exxon Mobil Corp
New York Mercantile Exchange
Activists target hog producers in seven states
Environmental groups announce a legal strategy modeled after North Carolina suits against Smithfield Foods. They accuse hog farms of water and air pollution via lagoons and field spraying, targeting Minnesota Illinois Indiana Nebraska Missouri and Iowa with 15 firms backing the effort.
MENTIONED IN THIS ARTICLE
Washington
Iowa
North Carolina
Smithfield Foods Inc
Robert Kennedy Jr
Water Keeper Alliance
Kennedy
Lynn O’malley
White Plains
N.Y
O’malley
the Gazette
Minnesota
Illinois
Indiana
Nebraska
Missouri
Smithfield
Richard J.M. Poulson
National Pork Producers Council
Sierra Club
The
National Farmers Union
Winter Wonderland brings holiday decorating to the area
Greg Scharf launches Winter Wonderland offering sales installation and removal of outdoor decorations with year round storage. Most clients spend over $500 with $1,000 to $1,500 typical. the firm aims at an upscale market while supporting his lawn service crew in the off season.
MENTIONED IN THIS ARTICLE
Winter Wonderland
Scharf
Greg
Senators urge porkpackers to boost capacity in 2001
U S senators Grassley Harkin Daschle and Johnson press 16 pork processors to raise slaughter capacity to prevent a 1998 1999 style market glut. They note recent hog kills around 383 000 daily and urge firms to cooperate with producers to ensure fair prices and future market access.
MENTIONED IN THIS ARTICLE
Grassley
Gary Mickelson
IBP
Wells Fargo to close 1 Brenton office in Marion Iowa
Wells Fargo completes Brenton acquisition and plans branch consolidations. Eight locations will close in Iowa including Brenton’s Marion branch at 800 11th St. due to proximity to a Wells Fargo in Marion. Des Moines area closings are prominent with no expected staff dislocation. The Brenton downtown building at 150 First Ave NE may join the Wells Fargo system.
MENTIONED IN THIS ARTICLE
Wells Fargo
Brenton
Iowa
11Th St
Marion
7Th Ave
Des Moines
First Ave. NE
Horak
Wells Fargo System
Cedar Rapids
Third Ave
Also Mentioned on This Page
BizFacts
Germany
Canad
Bureau of Labor Statistics
Sarehipat Garr
Paul Traf
By Dave DeWitte
U.S
U.S. Department of Agriculture
Harkin
Microsoft
Microsoft Certified
Oakdale Systems, Inc
Oakdale Blvd
Coralville
Gordon Epping
Honkamp Krueger & Co
Jeffrey A. Johnston
LUTCF
CSA
Marion Public Library
6Th Avenue
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