Dow sinks as oil jump spooks traders
The Dow Jones fell 174.02 points to 10,611.20, its largest drop since 2003, as crude oil surged about 6 percent to 51.15 a barrel amid inflation fears. The Nasdaq declined 28.30 to 2030.32 while NYSE decliners outweighed advancers about 3 to 1.
MENTIONED IN THIS ARTICLE
Wall Street
New York Mercantile Exchange
New York Stock Exchange
Celestica to close Mount Pleasant plant idling 333 jobs
Canadian electronics maker Celestica Inc will shut its Mount Pleasant plant by year end, costing 333 jobs. The site supplied radio frequency components to Motorola, and Celestica reportedly declined $2 million in incentives to stay. Efforts to market the facility to a new employer have begun.
MENTIONED IN THIS ARTICLE
Celestica Inc
Mount Pleasant
Jennifer Daly
Mount Pleasant Area
Treasury bill rates rise to multi year highs in auction
The Treasury Department sold 21 billion in three month bills at 2.615 percent discount, up from 2.540 percent, and 18 billion in six month bills at 2.850 percent, up from 2.760 percent. The results imply yields of 2.669 percent for three months and 2.932 percent for six months.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Gazette
News Service
Supreme Court denies review in Amana fraud case
The Supreme Court refused to hear an appeal on a 10 million judgment against Amana Appliances in a fraud suit brought by Eden Electrical Ltd of Israel. Eden alleged Amana used deception in an exclusive Israeli distributor deal and later canceled, leading to compensatory and punitive damages later reduced to 10 million. Maytag, now owner, said the ruling should not affect its finances.
MENTIONED IN THIS ARTICLE
DES Moines
US. Supreme Court
Amana Appliances
Eden Electrical, Ltd
Israel
Eden
Amana
Iowa
Kevin Collins
Cedar Rapids
Itzhak Eden
U.S. District Court
8Th
U.S. Circuit Court of Appeals
Newton
Maytag Corp
Maytag
Karen Lynn
Edward Mansfield
Collins
West Music plans Coralville growth with new center and product line
West Music Co announces a $4.3 million fulfillment center in WesCor Business Park Coralville to create 16 jobs and renovate 1212 Fifth St. The plan includes Sounds Like Fun early childhood products and state tax incentives. Company aims to release the new line this fall.
MENTIONED IN THIS ARTICLE
The
Gazette
Coralville
West Music Co
WesCor
West
Fifth St
Iowa City
West Music
Joe Raso
ICAD
Iowa Department of Economic Development
Educa
Manchester approves 481 600 TIF for XL expansion in south Manchester
Manchester City Council adopts a resolution to provide 481 600 in tax increment financing for XL Specialized Trailers to expand its Manchester facilities. The project adds 78 000 square feet at 3.8 million dollars, creates 85 new jobs with 42 relocated from Oelwein, and funds a new concrete street. A 240 800 grant and a 240 800 forgivable loan over 20 years back the package, plus a March RISE grant application to the Iowa Department of Transportation for street work. XL notes rapid local growth under city support.
MENTIONED IN THIS ARTICLE
Nows Correspc
Manchester
TIF Committee
Manchester City
Dave Heinz
Iowa
Iowa Department of Transportation
Progressive Career Fair Puts Values First At Iowa Event
At the University of Iowa event in Iowa City, the Progressive Career Fair pairs employers with applicants around social and environmental responsibility. Eight government agencies, sixteen nonprofits, and five businesses will be present in the Iowa Memorial Union Richey Ballroom from 1:30 to 4:30 p.m. Elliott Campbell coordinates the fair with emphasis on shared values between workers and recruiters.
MENTIONED IN THIS ARTICLE
the Gazette
Iowa City
University of Iowa
Elliott Campbell
Iowa Memorial Union
Richey Ballroom
Frontier Natural Products
Progressive Career Fair at UI Iowa Memorial Union today
The UI hosts a Progressive Career Fair at the Iowa Memorial Union with a 12:30 p.m. keynote on aligning work with a triple bottom line. About 30 exhibitors and career seminars run 1:30 to 4:30 p.m. in various rooms, plus an outdoor documentary Oil and Ice at 4:30 p.m. Attendees register free.
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Iowa
Arctic National Wildlife Refuge
Illinois
Uiowa.edu
Boeing sells Kansas Oklahoma plant network to Onex
Boeing sells its Wichita Tulsa and McAlester plants to Onex for 900 million cash plus 300 million liabilities. Onex says job losses can be reversed and Rockwell Collins says sale will not affect its Wichita service center.
MENTIONED IN THIS ARTICLE
Boeing
Canada
Onex
Wichita, Kan
Boeing Co
Kansas
Oklahoma
Tulsa
McAlester
Okla
Chicago
Cedar Rapids
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