Stocks end day mixed on Greenspan testimony
The Dow fell 2.44 points to 10834.88 and the Nasdaq declined 1.78 to 2087.43 as investors weighed Greenspan testimony. Despite a cautious tone, many economists expect a gradual Fed rate path and a continued tilt toward higher rates.
MENTIONED IN THIS ARTICLE
Greenspan
Federal Reserve
Alan Greenspan
Fed
New York Stock Exchange
Maytag Lays Off 155 At Newton Plant
Maytag Corp posts layoff notices for 155 production workers at its Newton washer and dryer plant. Pat Teed of Newton UAW Local 997 confirms the postings, as the plant reduces staff to about 1,275 from 2,500 in 2002.
MENTIONED IN THIS ARTICLE
Maytag
Newton
Maytag Corp
Pat Teed
Newton United Auto Workers Local 997
Toyota recalls 22 000 Tacoma pickups
Toyota Motor Co recalls 22 228 2005 Tacoma pickups with automatic transmissions over a parking brake fault. The lock nut on the parking brake cable may loosen and detach risking rollaway on slopes if not in park. NHTSA logged eight complaints. Toyota will notify owners next month.
MENTIONED IN THIS ARTICLE
Toyota Motor Co
Automaker
Toyota
John Hanson
National Highway Traffic Safety Administration
Gazette
News Service
Low rates spur housing surge to 2.16 million starts
U S builders began construction on 2.16 million housing units in January at a seasonally adjusted annual rate, 4.7 percent higher than December. Single family starts rose to a record 1.76 million, while apartments climbed 14 percent. Building permits gained 1.7 percent to 2.1 million, signaling continued strength in the housing market.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Joel Naroff
Naroff Economic Advisors
Defense questions WorldCom witness in Ebbers trial
In cross examination, Scott Sullivan admits lying to cover up $11 billion in improper accounting at WorldCom. The defense portrays him as deceitful while pressing that Ebbers ordered the fraud to hit the earnings per share target. Sullivan concedes he took the hit our number as an order to adjust books.
MENTIONED IN THIS ARTICLE
NEW York
WorldCom
Bernard Ebbers
U.S
Scott Sullivan
Ebbers
Reid Weingarten
Sullivan
Weingarten
Barbara Jones
Wall Street
Qwest Details Defeated MCI Bid vs Verizon Offer
Qwest Communications releases the terms of its rejected bid for MCI Inc to quell public confusion. The offer valued at about 8 billion more than Verizon’s and included 23 dollars per MCI share, with 7.5 in cash and 15.5 in Qwest stock, based on 3.735 Qwest shares per MCI share. Verizon’s competing deal valued MCI at 20.75 per share and total consideration in shares cash and dividends.
MENTIONED IN THIS ARTICLE
Qwest
Washington
Dow Jones/AP
Qwest Communications International Inc
MCI Inc
Verizon Communications Ne
MCI
Verizon
Securities and Exchange Commission
Dick Notebaert
Featherlite Inc
Regions Fncl New
Rockwell Collins Fiserv
Genencor Intl Inc
Saks Inc
Gen Mills
Sealed Air
Gillette Co
Skyworks Solution
HMI Corp
U S Agriculture Faces Shrinking Trade Surplus in 2004
The United States posted a record 61.3 billion in agricultural exports for 2004, but the agricultural trade surplus fell to 7.3 billion, a 40 percent drop from 2003. Imports reached 54 billion, the 13th consecutive record, with a rise of about 6.6 billion from 2003. Senator Tom Harkin warns the 2004 surplus may be short-lived as 2005 projections show a net balance. Senator Chuck Grassley cites expanded access via trade deals. Central American tariffs under CAFTA discussed. Corn exports were 5.7 billion, soybeans 6.7 billion, red meat 3.8 billion, with mad cow disease bans cited. Iowa remains a leading producer of corn and pork.
MENTIONED IN THIS ARTICLE
Marlene Lucas
Gazette
U.S
United States
Tom Harkin
Tom Harkin, D
Iowa
USDA
Harkin
Chuck Grassley
Central America
Central American
Grassley
Keith Berry
Greencastle
Ind
National Pork Producers Council
Growth Dubuque bank seeks D M area branch
A Dubuque based bank holding company plans to open a full service branch in West Des Moines pending regulatory approval. American Trust & Savings Bank began serving San Mateo through United American Bank and expanded its Des Moines area ambitions with an additional Des Moines branch plan.
MENTIONED IN THIS ARTICLE
George C. Ford
Gazette
California
West Des Moines
American Trust & Savings Bank
Dubuque
United American Bank
San Mateo
Calif
American Trust
Amtrust Inc
Des Moines
Iowa
Sion
National Bank of
Dyersville
Farley
Amtrust
Cuba City
Wis
Wisconsin Financial Institution
American Bank & Trust Wisconsin
United American Bank of San Mateo
John Schrup
Nick Schrup
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