Wall Street Drops Sharply After Investor Worries Increase
Markets slumped with the Dow down 56.46 to 10094.09 and the Nasdaq at 2044.89 as declines outpace advances. Local stocks show mixed moves with United Fire up and Wal Mart down, while soybeans rebound on CBOT aided by dry South American weather. Sony reports over 5 million PlayStation 2 units sold worldwide in holiday period, driven by price cuts and new titles.
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Wall Street
New York Stock Exchange
Sony Corp
Japan
United States
Sony Computer Entertainment
Sony
North America
Europe
Kodak to form Apparent Technologies Inc for wireless unit
Eastman Kodak Co. plans a spin off of its wireless technology research into Apparent Technologies Inc in partnership with a private venture capital fund. The new company aims to commercialize Kodak technologies and expand its information imaging sector, a hybrid field Kodak values at about 225 billion dollars.
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Eastman Kodak Co
Apparent Technologies Inc
Kodak
Carmike Cinemas to emerge from bankruptcy this month
Carmike Cinemas Inc will exit Chapter 11 after closing 130 theaters including four in Cedar Rapids and renegotiating leases. The Columbus Ga. chain says creditors will be repaid with interest and a reorganization plan converts notes and preferred stock into new shares, with current holders traded one new share for every five.
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Dave DeWitte
Carmike Cinemas Inc
Cedar Rapids
Carmike
Collins Road 5
Lindale
Westdale
Wynnsong
U.S
Suzanne Brown
Brown
Martin Durant
Nordstrom.com Cuts 46 Jobs at Cedar Rapids Center
Nordstrom.com reduces 46 Cedar Rapids positions as the fulfillment center shifts to a mixed staffing model of full time part time and seasonal workers. Brooke White emphasizes the move aims for efficiency and notes sales trends remain positive while Cedar Rapids remains the site.
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Azette Financial
Cedar Rapids
Nordstrom.com
Brooke White
Wash
White
18Th St. SW
Penford to move corporate HQ to Denver from Washington
Penford Corp will relocate its corporate headquarters from Bellevue, Washington to Denver Colorado citing closer proximity to manufacturing operations. Jeff Cook will stay on as president through the transition and will not move to Denver for personal reasons. Thomas Malkoski will become CEO, bringing prior leadership roles at Griffith Laboratories and Chiquita Brands International. Penford Products in Cedar Rapids employs about 300 and expects revenue growth in 2002.
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Gazette Tinanun
Cedar Rapids
Penford Corp
Penford Products Co
Washington
Colorado
Ford Corp
Denver
Colo
Jeff Cook
Penford
Thomas Malkoski
Griffith Laboratories
Ill
Cook
Bellevue
Greg Keeley
Penford Products
Keeley
Mediacom to launch own online service replacing Excite Home
Mediacom will switch Excite Home customers to Mediacom Online between February 5 and 8. The new service runs on AT T IP network under a multi year contract. Excite plans to suspend operation on February 28. E mail forwards to Mediacom Online accounts will begin before shutdown. domain changes from Home com to mchsi com.
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Excite
Excite@Home
Blume
Mediacom
Home.com
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