Market Gains with Dow Near All-Time High
A late bargain surge lifted blue chips while the broad market ended with a softer finish. The Dow rose 51.57 to 6858.11, with 18 gainers, 16 decliners, and 18 unchanged among Eastern Iowa stocks. Amana Refrigeration plans layoff of 100 workers to align inventory with sales.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Iowa
United Technologies
Apac TeleServices
Procter & Gamble
Rockwell
AEGON
Heartland Express
Tanger
Amana
Ann Humbert
Humbert
Motorola
American Stock Exchange
Cisco
Indus
Biotech
Computer
Standard & Poor’s Finance
Transpt
Telecom
Wilshire Associates
Monapei Press
Deere reports record first quarter net income and sales
Deere & Company posted a record worldwide net income of 176.7 million for the quarter ended January 31, up 10 percent from 1996. Worldwide sales and revenues rose 3 percent to 2.396 billion as Hans Becherer credited strong global demand for tractors and combines.
MENTIONED IN THIS ARTICLE
Deere & Co
Hans Becherer
Moline
Ill
MidAmerican expands holdings in Diversified Electronics unit
MidAmerican Capital Co. acquired a controlling interest in Diversified Electronics Ltd., parent of AAA Security Systems Inc. in Des Moines. AAA serves over 10,000 customers with offices in Des Moines Kansas City and Minneapolis. The deal broadens MidAmerican Energy Holdings Co. offerings in security systems.
MENTIONED IN THIS ARTICLE
MidAmerican
MidAmerican Capital Co
Diversified Electronics Ltd
AAA Security Systems Inc
Des Moines
AAA Security
Kansas City
Minneapolis
MidAmerican Capital
MCI to take over Cedar Rapids operator center from First Data
MCI Telecommunications announced it will assume operation of the Cedar Rapids operator center on January 1, 1998. First Data workers totaling about 450 will become MCI employees, with no changes to pay or headcount. MCI aims to expand into local service while maintaining automation and network efficiency. First Data will no longer have a Cedar Rapids presence after the transition.
MENTIONED IN THIS ARTICLE
Lynn Feuerbach
Data
MCI
50Th Ave
First Data
Ted Jones
Jones
American Express
Cedar Rapids Center
First Data Corp
Hackensack
N.J
Cedar Rapids
Peter Ziverts
Washington, D.C
Cedar Rapids firm plans five-building Signal Ridge Office Park
A five-building 23,500-square-foot office park is planned for northeast Cedar Rapids. Signal Ridge Office Park at 4005 Glass Road NE will offer suites from 1,500 to 5,500 square feet with first units ready in July. Ahtmann Design Inc. is the architect. Fletcher Leasing Group owns and acts as general contractor. Michael Shaffer of Skogman Commercial Services Group provides leasing and consulting.
MENTIONED IN THIS ARTICLE
Ann Design Inc
Cedar Rapids
Signal Ridge
Glass Road
Fletcher Leasing Group
Michael Shaffer
Skogman Commercial Services Group
Ahtmann Design Inc
VF Corp Moves to Custom Fit Jeans in Restructuring Plan
VF Corp systems will shift toward made-to-measure jeans like Levi Strauss as part of a four year plan to save 150 million annually. CEO Mackey McDonald says personalized fits address unique hip and rear shapes and focus on core lines including jeans and work wear.
MENTIONED IN THIS ARTICLE
Levi-Strauss & Co
VF Corp
Mackey McDonald
Vf’s
Deregulation sparks debate at major exchanges
Washington reports a heated debate on reforming commodity exchange law. The CFTC fights deregulation while CBOT and others welcome moves to rejuvenate the industry. Senators Lugar and Harkin back the bill. Corn wheat and livestock futures would stay regulated, but OTC trading could rise.
MENTIONED IN THIS ARTICLE
Gazette Washingto
Washington
Commodity Futures Trading Commission
CFTC
Chicago Board of Trade
CBOT
Commodity Exchange Act
Intel to grant stock options to most employees
Intel Corp will offer stock options to virtually all of its nearly 50 000 workers, expanding beyond the previous eligibility of about a quarter of the workforce. The plan allows purchase of shares at a set price and could add up to 1.5 percent of Intel’s shares. The company has seen its stock rise from about 60 to more than 150 in the past year and previously paid a $1000 bonus per employee totaling 820 million last year.
MENTIONED IN THIS ARTICLE
Intel
Written proof required for large charitable gifts
Knight Ridder notes that donors of $250 or more must obtain a written acknowledgment from the charity before filing taxes. Canceled checks are not sufficient proof. The 1993 law requires a substantiation letter stating the amount and any benefits received, with the letter in hand by filing time to avoid possible IRS disallowance. Each donation on a single day to one charity counts toward the threshold. gifts on different days to the same charity are not aggregated.
MENTIONED IN THIS ARTICLE
Knight-Ridder News Service
Productivity gains stall but show 1996 improvement
Washington AP reports productivity rose 0.8 percent in 1996 the best in four years though still lackluster. Economists expect similar results for 1997 noting output per hour of work remains weak and lags behind postwar growth rates.
MENTIONED IN THIS ARTICLE
Washington
Lynn Reaser
Barnett Banks Inc
Jacksonville
Fla
Also Mentioned on This Page
Yee
New Center
Jean-maker
New York
Lee and Wrangler Jeans
Navid Lynch
Richard Lugar
R-Ind
Tom Harkin
Senate Agriculture Committee
Congress
San Jose
Calif
Intel Corp
IRS
City Connection
Fire Dept
Water Dept. Public Library
Forestry Dept. Recreational Dept
the Gazette
Baws Jblic
The
Gazette
Dollars & Sense
Wao
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