Wall Street slips for second straight day amid Iraq war nerves
Wall Street wavered and fell for a second straight day as Powell address to the United Nations spurred nervousness about war with Iraq. The Dow fell 28.11 to 7985.18 while the Nasdaq dropped 4.65 to 1301.50 after earlier gains. The week’s trading featured mixed moves across blue chips and decliners.
MENTIONED IN THIS ARTICLE
Wall Street
Iraq
Colin Powell
United Nations
New York Stock Exchange
HON Industries posts 20 percent Q4 earnings gain
HON Industries reports a 20 percent rise in net income to 48 cents per diluted share in the fourth quarter, with sales up 4.9 percent to 447.9 million. Chairman Jack Michaels cites a tax-rate cut and new products as key drivers amid a sluggish economy and steel tariffs. Full year earnings reach 1.55 per share, up 23 percent, as office furniture sales grow and operating profit climbs. Michaels warns 2003 risks include steel tariffs and Iraq war, and a new president will be named Feb. 13 as part of a succession plan.
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Dave DeWitte
Gazette Muscatine
HON Industries
Jack Michaels
Michaels
Hon
Business and
Gas prices rise amid war fears and Iraq debate
Wholesale gasoline traded at 309 cents on the New York Mercantile Exchange, the highest since May 2001, while the national average for regular gasoline climbed to 1.153 dollars per gallon. Analysts cited ongoing Iraq weapons inspections and UN actions as drivers, with broader oil prices above 30 dollars a barrel since mid December amid global political and economic tensions including Venezuela.
MENTIONED IN THIS ARTICLE
New York Mercantile Exchange
Mm Venesuela
Grain warehouse protection expanded by USDA licensing changes
The USDA is expanding federal license coverage for grain warehouses to protect producers, extending a moratorium on new applications to February 14. Iowa Secretary Patty Judge pushed for the changes to shield growers if operators insolvent, with 80 percent coverage on initial contracts and 50 percent on the balance for credit sales. The program raises operator net worth to 150000 and increases audit depth. insolvency losses up to 5 million are paid from licensee assessments, with additional funds from an insurance policy if losses exceed 5 million but are under 15 million. Current licensees have 30 days to review. applications reopen February 17.
MENTIONED IN THIS ARTICLE
U.S. Department of Aenculture
USDA
Iowa
Patty Judge
Lowans Back Moratorium on Hog Confinements
A Des Moines AP report says 74 percent of Iowans favor a moratorium on new hog confinements while studies assess effects. Polls show strong support for local control and legal changes to curb large farms, with 73 percent concerned about humane treatment and 62 percent citing North Carolina style limits as justification.
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Des Moines
Chris Bedford
The
Humane Society of the United States
General Assembly
Governor's Office
Bedford
David Hill
Hill Research Consultants
the Woodlands
Texas
Hull
Iowa
North Carolina
Statehouse
Nash Finch under SEC probe over accounting practices
Nash Finch Co says the SEC is conducting a formal probe of its accounting methods while Deloitte & Touche resumes work after resignation. The Cedar Rapids and Econofoods distributor serves over 1,500 supermarkets and about 100 military bases with revenue around 4.11 billion dollars.
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Washington
Dow Jones &Ap
Nash Finch Co
Securities and Exchange Commission
Nash Finch
Deloitte & Fouche LLP
SEC
Minneapolis
Deloitte & Touch
Indepen
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Baiman
Wall
American
ISU
Catherine Wotekt
College of Agricultue
Jowas Suite
University Wall
Khevnote
Crowne Pha Five Seasons
Hacap Food Bank
Herts Farm Management Inc
P.O
Mount Vernon
Lowe
US Department of Agriculture
Economic Research Service
American Farm Bureau
Linn Counts Farm Bureau Women's Committee
Fareway
Marion
Iowa City
AP Stockquote
Muscatine Office Equipment Company
Louie Soria
Dell Computers
Austin
U.S
Commerce Department
New York
Tom Alova
al Price Infomation Service
Lakewood
Pubisher
Iidustry
Fen
Davers
Energy Department
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UN Securit
Chuna
Russia
France
Hog Lot
APAC
Mcleod USA
Aegor NV
Alena Ine Mestek
Alliant Eneray
Moore Cara Nel
Arch Dan Med
Nash Finchaw
Pearson PLC
Caseys Gen
Penford Cor
Calumbus Mckinnon
Fensica
Gillette Co
Heartland
Terex Co Hem Wal
Toyota
Verizon
Marsh & Melennan
WalMart
Maylag
Wells Fargo & Cr
Weyerhauser
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