McDonald profit warning weighs on investors as markets fall
Stocks slide after McDonald's warns on profits amid weak economy. Dow drops 92.01 to 8535.39 while Nasdaq falls to 1392.05 and S P 500 slips to 902.99. Bankers Trust opens in Cedar Rapids with a 12 member staff under MidAmerica control. Electro Lux to cut over 5,000 jobs and close NJ plant as PVH purchases Calvin Klein for 430 million dollars. Apax Partners to help finance. Corn Yield winners delayed to Friday.
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Standard & Poor
Bankers Trust
Cedar Rapids
Town Centre
Third Avenue
Second Street
MidAmerica Financial
Tim Kintner
Kintner
Mike Early
Bob Dewaay
Phillips-Van Heusen Corp
Calvin Klein Inc
Klein
Calvin Klein
Apax Partners
States approve $484 million Household settlement
All 50 states and the District of Columbia approve a $484 million settlement with Household International, the largest restitution in a consumer case. Iowa Attorney General Tom Miller calls it a new day for protecting low and moderate income borrowers. Household apologizes and pledges better lending practices.
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Des Moines
District of Colombia
Household International
Tom Miller
Iowa
Volved
Miller
Washington, D.C
Household
Chicago
Prospect Heights
House
Hold
Bob Brammer
McDonald's predicts first loss in 47 years amid sales slump
McDonald's warns of a quarterly loss for the first time in its 47 year history as U S sales slip 1.3 percent in the first two months of the fourth quarter. The company plans after tax charges of at least 390 million dollars for restructuring including closing underperforming restaurants and exiting some countries. Jim Cantalupo resumes as CEO replacing Jack Greenberg amid a management shake up and market concerns.
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Chicago
McDonald’s Corp
Burger King
U.S
McDonald's
Oak Brook
McDonald’s
Jim Cantalupo
Jack Greenberg
Greenberg
Rain Forest Cafe
McDonald's Corp
McDonald s Eyes Fazoli s Tie to Expand Italian Brand
McDonald s Corp and Fazoli s reach a joint venture agreement that could lead to 20 to 30 Fazoli s restaurants in three U S markets with a three year option for McDonald s to buy Fazoli s. Financial terms were not disclosed. Local executives cite the strong Italian concept and McDonald s resources.
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Oak Brook, Ill
McDonald's Corp
Fazolis
U.S
McDonald’s
Fazoli’s
Russ Smyth
Oak Brook
New Horizon FS Buys Cenex-Swiss Valley Assets
Tipton based New Horizon FS purchases Cenex Swiss Valley Energy LLC assets in four eastern Iowa towns Center Point Marion Palo and Preston. The deal expands LP gas home heating and adds Petrogas bulk plant with A C services while diversifying agriculture and urban markets. Acquisition effective December 10.
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New Horizon
Cenex
The
Gazette Tipton
New Horizon FS
Cenex- Swiss Valley Energy LLC
Iowa
Liquid Petroleum and Dust Control
Center Point
Marion
Palo
Preston
Iowa City firm unveils RandomizerT for trials
CompleWare Corp introduces RandomizerT a new clinical trial software enabling site staff to enroll and randomize subjects by Internet or phone The system streamlines data transfer and supports simultaneous multi site enrollment for large global trials led by President John Weiler a physician and former UI faculty member
MENTIONED IN THIS ARTICLE
The
Gazette
Cedar Rapids
CompleWare Corp
CompleWare
John Weiler
Weiler
University of Iowa
AOL Wins Spam Ring Case for Nearly Seven Million
AOL secured about 7 million dollars in damages in a U S District Court ruling in Alexandria Virginia over a spam ring that sent junk e mail promoting adult Web sites to AOL members. CN Productions was among the defendants previously sued, with a 1 9 million verdict and an injunction against its president Jay Nelson.
MENTIONED IN THIS ARTICLE
New York
America Online
AOL
U.S. District Court
Alexandria
CN Productions
Jay Nelson
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