Wall Street slips as traders pull back amid mixed signals
Stocks dropped with the Dow down 39.06 to 10,836.53 and the Nasdaq shedding 29.74 to 2,222.74 as technology led losses while investors awaited key GDP housing and consumer spending data later in the week. Decliners outpaced advancers about 8 to 3 on the NYSE. Wintersteen to lead Iowa State agriculture programs from Jan 1, succeeding Woteki who moved to Mars Inc.
MENTIONED IN THIS ARTICLE
Wall Street
New York Stock Exchange
Wendy Wintersteen
Iowa State
College of Agriculture
Iowa Agriculture and Home Economics
Wintersteen
Catherine Woteki
ISU
Mars Inc
McLean
Treasury raises rates in short term bill auction
Treasury Department auctioned 18 billion dollars in three month bills at a discount rate of 3.895 percent and 16 billion dollars in six month bills at 4.220 percent, reflecting prices below face value. A 10000 dollar three month bill sold for 9901.54 while a six month bill went for 9786.66.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Fitch downgrades Ford to junk rating on product concerns
Fitch Ratings cuts Ford Motor Co. and Ford Credit to BB, citing U S market share losses and reliance on slow selling sport utility vehicles. The agency notes relief from new models including Ford Fusion, Edge, and Lincoln Aviator, with 2006 competition rising in pickups.
MENTIONED IN THIS ARTICLE
Fitch
Ford Motor Co
U.S
Automaker
Ford Credit Unit
Ford
Gazette
Budcat Creations Moves to Iowa City for Growth
Budcat Creations, a gaming software developer founded by three former University of Iowa students, will move from Las Vegas to 332 S. Linn St. Iowa City on Jan 1. The firm plans to hire 24 engineers and artists in three years, aiming to attract talent to Iowa. Isaac Burns, 32, says all clients remain out of state and notes the company’s credits include Madden 06 PC and Psychonauts PS2.
MENTIONED IN THIS ARTICLE
Dave DeWitte
The
Gazette
University of Iowa
Iowa City
Iowa
Budcat Creations
Budcat
Las Vegas
S. Linn St
Isaac Burns
Burns
University of Iowa College of Engineering
Budcat: From EA Tiburon Alumni to Local Game Studio
Burns and Jason Andersen left EA Tiburon to form Budcat in Las Vegas followed by Andersen's brother Jeremy joining later. The Iowa links include ICAD support and Kirkwood Community College resources aiding workforce development. Budcat grew to 15 employees with a $1.5 million payroll and leverages Virtual Soldier projects from UIowa CAD.
MENTIONED IN THIS ARTICLE
Maitland
Fla
Burns
Andersen
EA Tiburon
Las Vegas
Jeremy
Jason Andersen
Iowa City
Budcat
Kirkwood Community College
Iowa
ICAD
Joe Raso
Raso
University of Iowa Center For
Bud
Parents invest $500000 to bring son back to farming
Dale and Colleen Vincent expand their operation with a modern 2400 head wean-to-finish hog unit to reinvest in their son Jason Vincent, 23, who plans to run the farm in coming years. Jason works off farm at Morrison's Allied Construction and for a neighbor during harvest as land remains scarce in West Branch.
MENTIONED IN THIS ARTICLE
David Lienemann
the Gazette
Jason Vincent
West Branch
Arlene Lucas
Ine Gazette West Branch
Dale
Colleen Vincent
Jason
Morrison
Allied Construction
Muscatine
Vincent Farm
Vincents
FPL Group to acquire Constellation Energy in $11 billion deal
FPL Group Inc. announces an $11 billion stock purchase of Constellation Energy Group Inc. creating one of the nation’s largest energy firms. The combined entity, to be called Constellation Energy, will have a $28 billion market cap and $57 billion in assets with FPL shareholders owning 60 percent.
MENTIONED IN THIS ARTICLE
Baltimore
FPL Group Inc
Constellation Energy Group Inc
Constellation
Juno Beach
Fla
Florida Power & Light
Constellation Energy
Baltimore Gas and Electric
FPL
FPL Energy Wins Bid for Duane Arnold Stake
FPL Energy completed a bid last July for Alliant Energy's 70 percent stake in Iowa's only nuclear plant the Duane Arnold Energy Center in Palo Regulators approved the sale in principle and FPL Energy must still gain NRC and other approvals before the transaction closes in early 2006
MENTIONED IN THIS ARTICLE
FPL Energy
Alliant Energy
Iowa
Duane Arnold
Palo
Nuclear Regulatory Commission
Market Beat: Rates Test Investors as Fed Signals Pause
Market observers weigh why long term rates stay low while the Fed hints further policy firming. If the Fed raises to 4.75 percent but bond yields stay under that, longer maturities earn less than cash. A slowing economy would push rates down later in 2006, boosting bond demand. The stock market trips to highs amid optimism for 2006.
MENTIONED IN THIS ARTICLE
Federal Reserve
Fed
Central Bank
Wall Street
Treasury
Drew Matus
Lehman Bros
New York
Standard & Poor
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Ag College
1St Ave
15Th St
C.R. Wal-Mart
Southwest C.R. HandiMart
Dubuque & Market
J.C. BP
Coralville
I.C
David.dewitte
Laura Segall
Metro Studios
Hiawatha
Coalition
Duane Arnold Plant
Tom Petrino
Los Angeles Times
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