Investors Sell Stocks After Greenspan Testimony
Investors sold stocks after Greenspan's upbeat congressional remarks as disappointing data spurred profit taking. The Dow fell 43.63 to 10,694.07 and the Nasdaq slid 16.05 to 2,073.61 as decliners outpaced advancers. Commerce data showed a 0.3 percent drop in overall retail sales last month led by auto sales, while nonauto sales rose 0.9 percent in January. Separately Vern McShane and family sold The Linn News and Linn County Shopper in Central City to Richard Brockman of Platteville Wisconsin. Brockman also owns the Platteville Journal. Rickenbacker Media advised the sellers.
MENTIONED IN THIS ARTICLE
Federal Reserve
Alan Greenspan
Fed
Stuart Freeman
A.G. Edwards & Sons
New York Stock Exchange
Commerce Department
Linn News
Linn County
Central City
Vern McShane
Richard Brockman
Platteville
Wis
McShane
Brockman
Platteville Journal
Rickenbacker Media
Mortgage rates dip after two weekly rises
Freddie Mac reports a weekly decline in mortgage rates with 30-year fixed at 5.66 percent, 15-year fixed at 4.96 percent, and 1-year adjustable at 3.57 percent, easing from last week’s levels and offering relief to home buyers and refinancers.
MENTIONED IN THIS ARTICLE
Freddie Mac
Yields Fall as 10-Year Treasuries Priced at 4.06 Percent
The 10-year Treasury note yield slipped to 4.06 percent in Thursday's auction, down from 4.365 percent at the December 11 sale and lowest since May 8, 2003 when notes sold at 3.70 percent. Each $10,000 face value carries a 4 percent coupon, selling for $9,951.10. Gazette reports.
MENTIONED IN THIS ARTICLE
Treasury
Gazette
News Service
Brokerage firms to pay overcharge fines in settlements
Fifteen brokerages reached settlements with the SEC and NASD overcharging large-scale mutual fund investors. Total civil penalties amount to about 21.5 million dollars, with refunds to customers. Firms include American Express Financial Advisors, Raymond James, Wachovia Securities, and others, for failing to grant breakpoint discounts on funds with upfront sales charges.
MENTIONED IN THIS ARTICLE
Washington
American Express Financial Advisors
Raymond James Financial Services
Wachovia Securities
SEC
NASD
Stephen Cutler
Legg Mason Wood Walker
Linsco/Private Ledger Corp
UBS Financial Services
H.D. West Investment Securities
Boeing bids for Navy patrol aircraft contract
Boeing Co faces Lockheed Martin in a U S Navy competition to convert 737 jets into marine patrol planes. The deal could align Boeing’s defense unit as a major customer of its commercial airplanes, potentially shifting billions in future orders while the Air Force tanker project remains unsettled.
MENTIONED IN THIS ARTICLE
Associated Press
Seattle
Boeing Co
Boeing
Lockheed Martin
U.S. Navy
US Air Force
Air Force One
Australia
FCC to regulate Internet phone calls and VOIP rules
The FCC will decide how to regulate calls made over high speed Internet connections and whether VOIP services should be subject to the same fees as traditional telephone service. The agency will consider 911 and universal service funding, and whether VOIP must pay local access charges to complete calls to conventional phones.
MENTIONED IN THIS ARTICLE
Washington
Federal Communications Commission
FCC
At&t
Grant Seiffert
Telecommunications Industry Association
Regulators weigh curbs on insurance credit score use
The Iowa Insurance Division considers rules to limit how credit scores affect premiums and coverage. Regulators heard from residents including Na nette Hall who faced higher rates after a late mortgage report. Commissioner Vaughan supports restricting credit scores as the sole qualification factor and protecting those with no score. industry group seeks disclosure of dollar impact when scores raise rates.
MENTIONED IN THIS ARTICLE
Des Moines
Hall
Iowa
Therese Vaughan
Vaughan
Beef checkoff ruling headed to U S Supreme Court
Nebraska cattlemen and the U S Justice Department plan to ask the Supreme Court to review a ruling finding the national beef checkoff program unconstitutional. The 8th Circuit upheld a 2002 decision that the $1 per head fee on U S cattle violates ranchers First Amendment rights.
MENTIONED IN THIS ARTICLE
Lincoln, Neb
Nebraska
U.S. Justice Department
Greg Ruehle
Nebraska Cattlemen
U.S. Circuit Court of Appeals
United States
Cattlemen’s Beef Promotion and Research Board
U.S
Charles Kornmann
Aberdeen
S.D
South Dakota
Livestock Marketing Association
U.S. Department of Agriculture
Department
Also Mentioned on This Page
DOW
Linn County Publications
Wisconsin
Echyone
Cedar Rapids
Iowa City
AP Stockquote
AMEX
Securities and Exchange Commission
National Association of Securities Dealers
Bear, Stearns & Co
Brecek & Young Advisors
Cresap Inc
Kirkpatrick, Pettis, Smith, Polian Inc
Lehman Brothers
David Lerner Associates
Southwest Securities
SWS Financial Services
By Allison Linn
Boeing Commercial
Randy Harrison
Scott Hamilton
Rockwell Collins
Navy
U.S. Supreme Court
East Iowa
APAC
McLeod USA
Aegon NV
Mastek
Alcoa Inc
Moore Wallace Inc
Alliant Energy
Arch Dan Mid
Nash Finch
Bandag Inc
Pearson PLC
Caseys Gen Store
Penford Corp
Columbus McKinnon
PepsiCo
Comel Feds
Procter Gambie
Deere Co
Qwest Commun
Dillards Inc
RF Micro Devices
Ralcorp Holding
Fastenal Co
Macc Pry Eat
Verizon Comm
Marsh & McLennan
WalMart Sirs
Maytag
Wells Fargo & Co
Weyerhauser
Sass
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!