Wall Street slides on earnings and accounting concerns
The Dow fell 220.17 to 9687.09 and the Nasdaq dipped 55.71 to 1855.53 as doubts about corporate bookkeeping spread. GE, WorldCom, Alcoa, Toyota, and Qwest led declines while Forstmann Little faced potential state action over a 96 million investment.
MENTIONED IN THIS ARTICLE
Tyco International
Enron Corp
Wall Street
Dow
New York Stock Exchange
General Electric
WorldCom
Alcoa
Toyota
Qwest
McLeodUSA trading halt extends amid bankruptcy filing
Nasdaq halted trading in McLeodUSA Inc. stocks for a third day after the Cedar Rapids telecom filed for Chapter 11. The market seeks additional information as the company undertakes a $3.3 billion debt restructuring and prepares a new trading symbol MCLDQ. The exchange notes no fixed halt duration.
MENTIONED IN THIS ARTICLE
The
Gazette
Cedar Rapids
McLeodusa Inc
McLeodusa
DeMeo
Wells Fargo closes Marquette Texas subsidiaries purchase
Wells Fargo completes acquisition of Marquette Bancshares Inc and Texas Financial Bancorporation subsidiaries including four Marquette Bank offices in Cedar Rapids. The merger, first disclosed Oct 5, gained federal approval earlier, with conversion to Wells Fargo planned for mid 2002 and employees to be retained where possible.
MENTIONED IN THIS ARTICLE
Wells Fargo
Marquette, Texas
Cedar Rapids
Wells Fargo & Co
Marquette Bancshares Inc
Texas Financial Bancorporation
Marquette Bank
Wells Fargo and
Marquette Bancshares
Mark Long
Marquette
First Trust & Savings Bank
Carl Pohlad
St. Paul
Federal Deposit Insurance Corp
PMX lands 5 year U S Mint contract for coin strip
Cedar Rapids PMX Industries Inc. to supply coin strip for nickels dimes quarters half dollars and the Sacagawea gold dollar under a five year contract valued at about 500 million. The firm previously laid off 130 to 150 workers amid soft markets last October and has long U S Mint as a major customer.
MENTIONED IN THIS ARTICLE
Cedar Rapids
PMX Industries Inc
United States
U.S
PMX
Alliant sub unit bids on its own planned gas plant
Alliant Energy subsidiary IP&L will bid to construct a new two phase natural gas fired power plant in Iowa as a backup if other bids fall short. The 300 MW simple cycle unit would start in 2003 with a 500 MW combined cycle upgrade next year.
MENTIONED IN THIS ARTICLE
The
Gazette
Cedar Rapids
Alliant Energy Corp
Alliant
Interstate Power & Light
Ip&l
Eliot Protsch
John Ruff
Iowa Utilities Board
Interstate Power and Light
IES Utilities
Interstate Power Co
Dubuque
APAC to Eliminate 41 Call Center Positions in Cedar Rapids
APAC Customer Services will cut 41 customer service jobs at its Cedar Rapids call center on North Park Place NE over a two week period in mid April. Affected workers may be reassigned internally as APAC shifts from outbound telemarketing to inbound service and order entry while serving clients in insurance and other industries.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Apac Customer Services Inc
N. Park Place
APAC
Rachel Schreiber
Schreiber
Iowa
Banks tighten lending standards amid a slowing economy
The Federal Reserve reports that 45.4 percent of 55 large U.S. banks tightened loan standards for big and midsize companies, down from 51 percent in October, with smaller businesses and some consumer lending also restrained while mortgage terms held largely steady as the economy drags.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
U.S
Ber
Also Mentioned on This Page
Connecticut
McLeodusa Investment
Forstmann Little
Denise Nappier
XO Communications Inc
Reston
Forst
Qwest Communications
Western Union
Ruth Mitchell
Cedar Rapids ,Area
Oakland Rd
Mitchell
Priceline.com
Norwalk
Treasury
Treasury Department
Djia
Enzyone
Iowa City
AP Stockquote
Local
Bae Seat Se Ruder
Daveane
Prae
By Dave DeWitte
Mike DeMeo
Bryce Nemitz
David DeWitte
Davidd
General Motors
George C. Ford
the Gazette
Doug Hile
Presi
Linn County
George Ford
Georgef
Mint
Black & Decker
U.S. Mint
Olin Brass Corp
Tom Harkin
D Lowa
Congress
C.R
Fed
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