Iowa Illinois Gas and Electric boosts dividend to 81.5 cents
The Iowa Illinois Gas and Electric Co raises its quarterly common stock dividend by 2 cents to 81.5 cents per share. The increase was approved by the board on Thursday. The first payment at the new rate will be March 1 for shareholders of record February 6. Barry O'Brien, chairman, notes it marks the 15th consecutive year of dividend increases. A May 1 regular dividend is scheduled for shareholders of record April 7.
MENTIONED IN THIS ARTICLE
Iowa-Illinois Gas and Electric Co
Barry O’brien
ADM to boost stake in Illinois Central Transportation Co
ADM plans to raise its holding in Illinois Central Transportation Co to at least 15 percent. The firm disclosed plans to buy more shares as it already owns 1.6 million shares, about eight percent, bought recently for investment purposes. ADM declined to comment.
MENTIONED IN THIS ARTICLE
Archer Daniels Midland Co
Illinois Central Transportation Co
ADM
Illinois Central
Hewlett-Packard
Compaq Computer
Intel
DuPont
RJR Nabisco
Drexel Burnham Lambert Inc
Kohlberg Kravis Roberts & Co
Wilshire Associates
AT&T Reports First Annual Loss In 104 Years
AT&T posted a net loss of $3.34 billion for the fourth quarter after a $6.72 billion pre tax charge. The charge reflects scrapping outdated equipment and moves that affected 16 000 employees. For 1988 AT&T overall lost $1.67 billion.
MENTIONED IN THIS ARTICLE
American Telephone & Telegraph Co
At&t
Census survey to visit Cedar Rapids area homes
Representatives from the U S Census Bureau will return to selected Cedar Rapids households starting February 1 to conduct a survey on income and program participation. The questions cover jobs earnings the impact of unemployment and participation in federal programs.
MENTIONED IN THIS ARTICLE
U.S. Census Bureau
Cedar Rapids Area
Money supply up on M2 and M3 as M1 slips
The Federal Reserve reported week ending January 16 shows M2 rising to 3,070 billion from 3,064.1 billion, and M3 increasing to 3,913.9 billion from 3,904.6 billion. M1 fell to 783.8 billion from 786.3 billion.
MENTIONED IN THIS ARTICLE
Federal Reserve Board
Wage survey shows raises under 1988 contracts
Nearly 1.8 million workers covered by 415 major collective bargaining contracts signed in 1988 will receive average annual pay raises of 2.4 percent. For the first year the raise averages 2.6 percent, higher than the 1.8 percent first-year gains in prior contracts.
Durable goods orders rise 6.4 percent in December
The Commerce Department reported a robust 6.4 percent increase in durable goods orders in December, the largest gain since 8.7 percent last June. Demand for durable goods reached $130.85 billion, signaling strong manufacturing momentum for items expected to last three or more years.
Champion Spark Plug Co to be bought by Dana Corp
Dana Corp plans to acquire 82 year old Champion Spark Plug Co for about 600 million dollars in cash and stock. The agreement requires Champion shareholders approval and would end the spark plug maker's independence.
MENTIONED IN THIS ARTICLE
Dana Corp
Champion Spark Plug Co
Champion
Compact discs outsell vinyl for first half year
The Recording Industry Association of America reports CDs led with 70.4 million units sold in the first half of last year, a 64 percent rise from 1987. LP shipments fell 22.4 percent to 43.5 million units.
MENTIONED IN THIS ARTICLE
Recording Industry Association of America
Dow Near 2300 As Volume Surges In Broad Market Rally
The Dow Jones Industrial Average approaches 2300 as trading accelerates to a yearly high with a 25.18 point gain to 2291.07. Volume tops 212 million shares while advancers outpace decliners about 9 to 5. Tech and big-name issues lead gains with IBM, HP, Compaq, and Intel rising.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Iowa
Washington
Alan Greenspan
S&L bailout faces cash squeeze as regulators seek funds
In Washington the Federal Home Loan Bank Board chief M Danny Wall warns Congress that without quick funding the bailout will force closures of hundreds of insolvent savings and loan institutions. He cites lawsuits against Big Eight auditors and outlines mounting costs to resolve some 350 troubled S&Ls still operating.
MENTIONED IN THIS ARTICLE
Washington
Savings and Loan
Congress
M. Danny Wall
House Budget Committee
Bank
S&ls
Bank Board
William Fulwider
Coopers and Lybrand
Deloitte
Haskins and Sells
Touche Ross and Co
Wall
Federal Home Loan) Bank Board
Import Prices Rise 4.1 Percent in 1988 After Q4 Gain
The Labor Department reports U.S. import prices climbed 4.1 percent for 1988 with a 1.6 percent rise in October through December. Crude oil and fuels fell 7.8 percent in Q4, while materials and machinery costs rose. Exports slipped 0.2 percent in Q4 but remained 6.3 percent higher than a year earlier.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
U.S
United States
Cedar Rapids urged to share regional economic story
George C. Ford reports SCI Financial Group executive vice president Jack Evans urged Cedar Rapids area residents to promote the local economic development message. He recalled past leaders and noted the 1980s downturn, highlighting Kodak bioproducts plant and Rockwell-Goss expansion as proofs of a resilient regional base. Evans urged ongoing public private efforts and spreading the message during travels and calls.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Jack Evans
SCI Financial Group
Winston Churchill
Churchill
Evans
Howard Hall
Cedarapids Inc
Sutherland Dows
Iowa Electric
Eastman Kodak Co
Rockwell-Goss
Brenton Banks reports 1988 earnings rise record highs
Brenton Banks Inc. posted 1988 income before taxes and minority interest of 10.7 million, up 90 percent from 1987, with net income at a record 7.7 million and per share income of 3.18, up 63.9 percent. Chairman William H. Brenton cited margin improvements, lower loan losses, more noninterest income, and lower expenses as drivers.
MENTIONED IN THIS ARTICLE
Des Moines
Brenton Banks Inc
William H. Brenton
ADM chief proposes buying Moscow embassy site
The Journal of Commerce reports Dwayne Andreas of Archer Daniels Midland aims to acquire the unfinished Moscow embassy building as a headquarters for a seven company American Trade Consortium. If chosen the project would take about two years and cost around 55 million dollars. The eight story Devyatinsky Street structure halted in 1985 due to hidden listening devices.
MENTIONED IN THIS ARTICLE
New York
U.S
Moscow
The
Journal of Commerce
Dwayne Andreas
Archer Daniels Midland Co
U.S. State Department
Washington
Joseph Hulings
Soviet Union
Europe
Devyatinsky Street
Hulings
Congress
ADM
Andreas
John C. Whitehead
American Trade Consortium
Chevron Corp
Eastman Kodak Co
Ford Motor Co
Johnson & Johnson
RJR Nabisco
Mercator Corp
Maytag and Chicago Pacific complete $1 billion merger
Maytag Corp and Chicago Pacific Co finalize their merger after stockholder approvals. The deal, filed in Delaware, unites Hoover with Maytag and five furniture lines to form a $3 billion annual corporation. Maytag paid $60 per Chicago Pacific share for 6.4 million shares, with the remainder exchanged for Maytag stock.
MENTIONED IN THIS ARTICLE
Newton (Ap
Maytag Corp
Chicago Pacific Co
Hoover
Delaware
Maytag
Chicago Pacific
Also Mentioned on This Page
Census Survey
Massachusetts Institute of Technology
Darryll Pines
Left
Siegfried Zerweckh
Dow
Associated Press and Gazette
Reserve Board
Senate Finance Committee
Raytheon
Procter & Gamble
Longview Fibre
S&l
L. William Seidman
Federal Deposit Insurance Corp
Charles Schumer
D-N.y
Lawrence White
C.R
George C. Ford
FMC Corp
Harnischfeger Corp
Jack
Brenton
Brenton Management
Chicago
Gazette Carriers
Are
Gazette
Dana
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