Wall Street Holds Back After Rally Fades
Wall Street traders grew cautious after a two day rally as negative corporate news weighed on sentiment. Major indices slipped with the Dow down 242.85 points to 8,691.33, the S&P 500 at 888.67 and the Nasdaq at 1,547.34 while Treasury bills drew demand for no return. Oil eased to about 42 dollars a barrel as energy demand weakens amid a softer global outlook.
MENTIONED IN THIS ARTICLE
Wall Street
Treasury
Standard & Poor
U.S
Department of Energy
New York Mercantile Exchange
Kroger Reports 6 Percent Q3 Profit Dip Amid Ike Damage
Kroger Co. posted a 6 percent drop in third quarter profit to $237.7 million or 36 cents a share as Ike damage weighed on results. Revenue rose 9 percent to $17.6 billion, with the Cincinnati retailer offering a cautious forecast amid the broader economic storm.
MENTIONED IN THIS ARTICLE
Kroger Co
U.S
Kwik Shop
Dill Air recalls valve stems for early cracking risk
Dill Air Controls Products LLC warns about 1.8 million Chinese made valve stems sold in the United States. Two lots totalling about 198,000 units may crack and lose tire pressure. Valves sold from November 2006 to July 2007 are recalled. The stems were made by Topseal Automotive and imported and distributed under the Dill ACP brand by Oxford, North Carolina.
MENTIONED IN THIS ARTICLE
North Carolina
United States
Dill Air Controls Products LLC
Topseal Automotive
Shanghai Baolong Automotive Corp
Oxford
N.C
Gas Price Survey in the Corridor
A selective survey shows gas prices as of yesterday afternoon with values rounded to the nearest cent. The report notes a low price today in 2007 of 2.85 dollars per gallon.
Principal Financial to cut 550 jobs in 2009 plan
Principal Financial Group Inc based in Des Moines said it will cut 550 jobs about 3.5 percent of its workforce due to worsening U.S. and global markets. The reductions include 300 at the Des Moines headquarters and 250 at 45 other locations with most affected workers leaving Dec. 31 and severance offered.
MENTIONED IN THIS ARTICLE
DES Moines
Principal Financial Group Inc
Holidays Decor Service Lands Seasonal Niche in Eastern Iowa
Deborah Balik of Marion runs Red Nose Lighting offering holiday interior and exterior decor while Seal Maxx handles year round cleaning. she switched from insurance after seeing demand among busy professionals and seniors who dislike ladders. Balik installs and loans its own safe, commercial grade lights, updating every two years and custom fitting owner decorations for interiors. Nursing homes especially benefit as residents and staff respond positively to the festive displays.
MENTIONED IN THIS ARTICLE
George C. Ford
the Gazette
Deborah Balik
Balik
Red Nose Lighting of
Marion
Iowa
Seal Maxx
Red Nose
Jim Slosiarek
Ryan Schools
Cedar Rapids
Red Nose Lighting
Iowa economist predicts mild two year economic slowdown
University of Iowa economist John Geweke, director of the Institute for Economic Research, forecasts a largely stagnant Iowa economy over 2009 and 2010. He expects employment to fall 0.1 percent in 2009 and rise 0.8 percent in 2010, with personal income growing 1.9 percent in 2009 and 2.5 percent in 2010 after inflation. State tax revenues should climb, with a 90 percent probability of growth, based on insurance-like land value contracts and prior forecast accuracy. Geweke holds the Harlan E. McGregor Chair in Economic Theory.
MENTIONED IN THIS ARTICLE
the Gazette
University of Iowa
John Geweke
Institute For Economic Research
UI Tippie College of Business
Geweke
Geneke
Governor’s Council of Economic Advisors
Harlan E. McGregor
Department of Statistics and Actuarial Science
College of Liberal Arts and Sciences
Choosing Charity Affinity Cards Wisely
Consumer Advice urges evaluating affinity credit cards before donating via purchases. Consider how much goes to the charity, card APR, and personal spending. Some cards let you donate earned rewards, but overhead and fees may reduce impact.
MENTIONED IN THIS ARTICLE
Consumer Reports
Money Advisor
Joe Ridout
Consumer Action
San Francisco
Also Mentioned on This Page
Kroger
Storm
First Ave
15Th St
Williams Boulevard
Casey's
Dubuque & Market Streets
Iowa City
First Avenue
Coralville
Ralph Bucher
Mary O’keefe
Mak
Principal
Health
Terrance Lillis
Securities and Exchange Commission
Lillis
SEC
Marshall Loeb Marketwatch
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