Stocks edge higher as Fed meet looms and Vlasic files
Markets rose moderately as investors await the Federal Reserve two day meeting starting Tuesday with a likely rate cut. Vlasic Foods sought bankruptcy protection and agreed to a 195 million sale to H J Heinz pending court approval.
MENTIONED IN THIS ARTICLE
Federal Reserve
Wall Street
Fed
New York Stock Exchange
Iowa
Fiserv
WorldCom
McLeod USA
Toyota
Gillette
Procter & Gamble
Vlasic Foods International
Swanson
H.J. Heinz Co
Vlasic
Campbell Soup Co
Campbell
Disney to close Internet division and Go com site
The Walt Disney Co will discontinue its money losing Internet division and close the Go.com Web site with about 400 layoffs. Disney stock of the Internet Group will be converted to Disney common shares, while ESPN com Disney com and ABC com and other sites continue. The Internet Group has lost money every quarter since January 1999. Last September the company shifted away from being a general portal.
MENTIONED IN THIS ARTICLE
Walt Disney Co
Go.com
Walt Disney Internet Group
Disney
Internet Group
Espn.com
Disney.com
Abc.com
NYSE completes decimal trading shift to pennies
The New York Stock Exchange began trading in decimals on Monday ending centuries of trading in fractions. The change affects over 3,500 stocks and completed a government mandate along with 159 NYSE issues last year in a pilot program.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
American Stock Exchange
Intel
Microsoft
Securities and Exchange Commission
the Gazette
OfficeMax to close 50 superstores nationwide
OfficeMax plans to close 50 superstores with 46 shutting within 90 days and a remaining few to close later. About 1,250 employees will be affected though some may transfer to other stores. The company will also cut new store openings to under 25 this period.
MENTIONED IN THIS ARTICLE
Office Products
OfficeMax Inc
OfficeMax
Steve Baisden
Baisden
Treasury bill rates dip in Monday auctions
Treasury sold 13 billion dollars of three month bills at 4.980 percent down from 5.090 percent and 11 billion dollars of six month bills at 4.840 percent down from 4.920 percent. The implied annual yields are 5.114 percent for the three month and 5.031 percent for the six month based on a 10 thousand and 9755.30 price respectively.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Disasters Hit Poorest Nations Hardest 1985–1999
A BizFacts analysis quantifies economic losses from disasters as a share of GDP, showing the poorest nations suffered the largest relative damages between 1985 and 1999. The study highlights vulnerable economies and the uneven cost borne by low income regions.
DAEC to Boost Capacity and Consider Dry Storage
The Duane Arnold Energy Center near Palo Iowa aims to raise its net capacity to 565 megawatts from 535 and upgrade its turbine rotor during spring outage. A dry storage facility for spent fuel is planned to start in December with completion in 2002 and initial loading in 2003, reflecting broader industry use of dry containment storage.
MENTIONED IN THIS ARTICLE
Duane Arnold Energy Center
DAEC
Palo
Gary van Middlesworth
The
Nuclear Management Co
van Middlesworth
Middlesworth
Bruce Lacy
Alliant Energy
NMC
Prairie Island
Minn
Point Beach
Wis
Northern States Power
Wisconsin Energy
WPS Resources
Midwest
Electric heat a bargain this winter in Iowa
In Linn County Iowa electric heat appears cheaper than gas as homeowners see varied bills. Don Gallagher reports a 128 dollar December charge on a 2600 square foot home with two electric furnaces up 41 percent from a year earlier. Dan Wille notes a 35.70 bill up 62.5 percent for a 1700 square foot house with a ground source heat pump and natural gas backup. Electric co op officials say rates have not risen since 1992 and costs drop when fuel adjustment is considered.
MENTIONED IN THIS ARTICLE
Gallagher
Linn County Rec
Ers
Dan Wille
Wille
Co-Op
Don Gallagher
Mount Vernon
Linn County Rural Electric Cooperative
Chrysler to cut 26,000 jobs at Chrysler unit
DaimlerChrysler AG plans to slash about one fifth of its Chrysler workforce over three years and idle six plants as it pares production 15 percent. Dieter Zetsche calls the cutbacks painful but necessary amid brutal competition and weak sales.
MENTIONED IN THIS ARTICLE
Auburn Hills
Mich
DaimlerChrysler AG
Chrysler
David Healy
Burnham Securities
U.S
Dieter Zetsche
Tyson Foods IBP deal clears Justice Department review
Tyson Foods says its 3.2 billion acquisition of IBP has cleared the Justice Department with the regulatory waiting period expiring. John Tyson notes the merger should not hamper competition or farmer sales. The next hurdle is an SEC review of IBP financial records, delaying the merger. The tender offer to IEP shareholders remains, extended to February 7.
MENTIONED IN THIS ARTICLE
Little Rock
Justice Department
Tyson Foods
IBP
Tyson
Ed Nicholson
Springdale
Ark
South Dakota
Securities and Exchange Commission
IEP
SEC
Nicholson
AT&T posts 1.7 billion Q4 loss as ExciteAtHome weighs
AT&T Corp reports a 1.7 billion fourth quarter loss and a 50 percent drop in operating profit, blamed on ExciteAtHome. The period shows 16.9 billion revenue, with wireless rising 39 percent to 3 billion, while long distance declines persist.
MENTIONED IN THIS ARTICLE
At&t
New York
At&t Corp
Excite
Wall Street
At&t Wireless
Also Mentioned on This Page
Djia
NYSE
BizFacts
Worldwatch Institute
Pat Carr
Paul Trap
Krt
George C. Ford
Zetsche
States
Canada
Potceli
Microsoft Certified
Oakdale Systems, Inc
Custom Software Development
Oakdale Blvd
Coralville, LA
Bruckman Rubber Co
South St. Joseph Ave
P.O
Hastings
Bruckmanrubber.com
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