Capitol American Life Insurance shut two Iowa policies
The Iowa Insurance Commissioner ordered Capitol American Life Insurance Co of Arizona to stop selling two health policies Heartcare and CancerAid in Iowa. A hearing set for Jan. 26 will determine if sales may resume. Grand Metropolitan PLC unit Pillsbury to acquire Pet Inc for 2.6 billion dollars. Microsoft will offer free software to fix Intel Pentium chip issues for Windows and Windows NT users. release expected later this month.
MENTIONED IN THIS ARTICLE
Capitol American Life Insurance Co
Arizona
Iowa
Heartcare
CancerAid
Therese Vaughan
Capitol American
Microsoft Corp
Intel Corp
Microsoft
Consumers Borrowing Surges in November Credit Rise
The Federal Reserve reported consumer credit rose $12.9 billion in November, marking the 24th straight monthly advance and the largest gain since August. Installment debt climbed at an annual rate of 17.8 percent, following 15.9 percent in October and 14.3 percent in September.
MENTIONED IN THIS ARTICLE
Consumer Credit
Federal Reserve
Treasury bill rates rise to four year highs in auctions
The Treasury sold 13.5 billion in three month bills at 5.87 percent and 13.6 billion in six month bills at 6.42 percent, with understatements of 6.04 percent and 6.73 percent respectively. The Fed reported one year bill yields at 7.24 percent for last week, up from 7.21 percent.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Federal Reserve
Fewer farms produce more in U S agriculture
The USDA ERS reports farm numbers fell from 2.09 million in 1987 to 1.93 million in 1992 while average farm size rose from 462 to 491 acres nationally and Iowa from 301 to 325 acres. Sales per farm climbed from 65165 to 84459 as output per input grew 26 percent.
MENTIONED IN THIS ARTICLE
Marlene Lucas
U.S
U.S. Department of Agriculture
Economic Research Service
Iowa
Research Service
Michael Duffy
Leopold Center For Sustainable Agriculture
Ames
Erosion and CRP Ownership Shapes Rural Farm Base
Slow farm price and income growth discourage new entrants while half of CRP land sits with owners over 55. About 25 percent of CRP acres belong to people who would not be farmers without their land. Government defines farmers as those with at least 1000 dollars in annual farm sales. One third of farmers earn under 25 thousand dollars gross, yielding net about 2500 dollars. This prompts a smaller, highly productive farm base. The Associated Press contributed.
MENTIONED IN THIS ARTICLE
Duffy
Research Service
Associated Press
Panel to Address Low Pork Prices at Town Meeting
Farmers statewide can discuss low pork prices and potential solutions with experts at a Kirkwood Community College panel. The event airs via the Iowa Communications Network to 80 locations and runs three hours from 1 30 p m. ISU Extension staff assist at several sites including Linn County Room 202 Linn Hall. Kirkwood Centers in Monticello Williamsburg Vinton and Tipton host participation sites with ICN site details by phone.
MENTIONED IN THIS ARTICLE
Kirkwood Community College
Iowa
Linn County
Linn Hall
Kirkwood
Monticello
Williamsburg
Vinton
Tipton
Carson's 2nd bid for Younkers rejected as inadequate
Carson Pirie Scott's $152 million offer to acquire Younkers Inc was labeled grossly inadequate by Younkers board. The board urged shareholders to resist the $17 a share bid and maintain independence while Carson weighs a higher tender.
MENTIONED IN THIS ARTICLE
Carson
Younkers
Associated Press and Gazette
Carson Pirie Scott Co
Younkers Inc
Carson Pirie Scott
Cedar Rapids
John Curti
Securities Corporation of Iowa
Curti
Carson Pirie
Down
Subdued Stock Session Amid Dollar Pressure and Pet Inc Buyout
U.S. stocks closed mixed in a subdued session as the dollar weakened and economic worries lingered. Pet Inc drew attention on news it would be acquired by Pillsbury's Grand Metropolitan PLC for 26 dollars a share, valuing the deal at about 2.6 billion. The Dow ended at 3861.35, down 6.06, with 278.72 million shares traded on the NYSE. Eastern Iowa markets posted 23 gains, 13 declines, and seven unchanged. AEGON rose to 63 percent, Quaker Oats to 32 percent, Gillette to 73, Noland to 35.5, and Weyerhaeuser to 40.0.
MENTIONED IN THIS ARTICLE
Pet Inc
Pet
Pillsbury
Britain
Grand Metropolitan PLC
Dow Jones
NYSE
Iowa
AEGON
Quaker Oats
Gillette
Noland
Weyerhaeuser
NEW York Stock Exchange
Empresica
American Stock Exchange
Intel
Amex
Ind
Biotech
Indust
Telecom
Transpt
Wilshire Associates
Associated Press
IBM Consolidates Divisions To Streamline Marketing
IBM announced a consolidation of its divisions grouping software businesses and unifying international and domestic marketing. CEO Louis Gerstner Jr. said the changes strengthen market focus while ongoing cost cuts and layoffs slow. The restructure keeps four product divisions and creates a software division while eliminating the networking unit.
MENTIONED IN THIS ARTICLE
New York
International Business Machines Corp
IBM
Louis Gerstner Jr
Alarm issue hits some 1995 Chrysler Cirrus LX sedans
Up to twenty Cirrus LX cars may have an unintended alarm system installed during late October to early November production. The misprogrammed engine controller activates the alarm when the remote is used but prevents starting if the car is opened with a key. No recalls or customer complaints reported.
MENTIONED IN THIS ARTICLE
Detroit
Chrysler
Pamela Gross
Also Mentioned on This Page
Pillsbury Buying Pet
St. Louis
Old el Paso Foods
Old el Paso
Campbell's
Borrow Livers
AAA
Tribune Media Services, Inc
Bill
Clinton
Iowa State University Extension
Las Vegas
Firstar
FDIC
Firstar Bank
IBC
Donoghue Money Fund
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