Investors flee tech as Fed rate cut looms
Markets shifted to blue chips while awaiting the Federal Reserve two day policy meeting ending today. The Dow rose 179.01 to 10 881.20 and the Nasdaq finished near flat at 2838.35 with 1.38 billion shares traded. Eastern Iowa winners included Procter & Gamble U S Cellular GE Weyerhaeuser and Quaker Oats. Fiserv fell.
MENTIONED IN THIS ARTICLE
Federal Reserve
Fed
New York Stock Exchange
Iowa
Procter & Gamble
U.S. Cellular
General Electric
Weyerhaeuser
Quaker Oats
Fiserv
Heilig-Meyers to Close 116 Stores in 3 Months
Heilig-Meyers Co announces the shutdown of 111 Heilig-Meyers stores plus five The RoomStore locations and two distribution centers over the next three months. About 1,000 workers will be laid off as the Richmond-based retailer trims its footprint from 814 to about 400 stores after filing for bankruptcy protection in August. Stores in Oskaloosa and Fort Dodge are among those slated to close.
MENTIONED IN THIS ARTICLE
Heilig-Meyers Co
Oskaloosa
Fort Dodge
Heilig-Meyers
Richmond
RoomStore
Saks to Sell 9 Stores to May Department for 310 Million
Saks will sell nine stores in Tennessee Louisiana and Florida to May Department Stores Co for about 310 million in cash. The deal includes five Proffitt's outlets in Nashville and three Parisian stores in Baton Rouge Lafayette and Orlando plus a McRae's in Baton Rouge. Saks operates 252 department stores under multiple names.
MENTIONED IN THIS ARTICLE
Saks Inc
May Department Stores Co
Proffitt’s
Nashville
Tenn
Baton Rouge
Lafayette
Orlando
Fla
Saks
McRae’s
Birmingham
Ala
Younkers
Parisian
Herberger’s
Carson Pirie Scott
Bergner
Boston
BMW recalls 22000 X5 SUVs for steering defect risk
BMW said it will recall 22 000 X5 sport utility vehicles worldwide to inspect for a possible steering defect. A bolt on the steering column may be unfitted, risking the connection to the steering transmission loosening and loss of control. Dealers contact owners for a free 30 minute inspection at BMW service stations.
MENTIONED IN THIS ARTICLE
BMW
Farm aid report drawn up but Harkin says no new ground
A commission urged a new counter cyclical aid plan and continued AMT payments to support farmers amid low prices. Sen. Tom Harkin criticized the report as lacking innovation while Sen. Chuck Grassley endorsed targeted, commodity specific improvements and warned against a uniform nationwide approach.
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Washington
Tom Harkin
Iowa
Commission
Congress
Harkin
Agriculture Committee
Commission On 21St Century Production Agriculture
William Northey
Spirit Lake
Chuck Grassley
Barry Flinchbaugh
Kansas State University
Flinchbaugh
Iowa jails and courthouses linked by Enlighten video network
Cedar Rapids firm Enlighten Technologies has created the Enlighten Secure Data Network to connect Iowa jails with all 99 courthouses. The turnkey system enables courthouse to jail links, telemedicine, and live video consultations, with monthly charges of 760 dollars.
MENTIONED IN THIS ARTICLE
Iowa
C.R
Enlighten
Marshall County
Johnson County
Ric Lumbard
David Hayward
2Nd Judicial District of
Iowa Communications Network
ICN
Secure
Cedar Rapids
Carroll Edmondson
6Th Judicial District of
Linn County
Farmland values buoyed by eager buyers in strong Iowa market
Farmers National Co. reports demand for farms remains robust through 2001 with a near record year in 2000. Iowa prices vary by region from 2000 to 3500 per acre in east central and northwest areas, 2200 to 2600 in northern counties, and up to 14000 per acre near Iowa City for housing land.
MENTIONED IN THIS ARTICLE
Marlene Lucas
Farmers National Co
Iowa
Northwest
Lowa
Iowa City
Cedar Rapids
Alburnett
Pocahontas County
Kain
Amazon to Cut 1300 Jobs Amid Slower Economy
Amazon.com Inc plans to cut 1,300 jobs or 15 percent of its workforce as it reports fourth quarter losses narrowing slightly. The moves include closing a distribution center in McDonough Georgia and seasonal operations at Seattle facilities, with a charge over 150 million dollars this year.
MENTIONED IN THIS ARTICLE
Seattle
Amazon.com Inc
Amazon
McDonough
McLeodUSA posts record 2000 revenue and EBITDA gains
Cedar Rapids based McLeodUSA Inc reports 2000 revenue of 1.4 billion and EBITDA of 60.8 million, with fourth quarter revenue of 410 million. The year shows an overall net loss of 477.3 million, while operational metrics rise including local lines to 1.1 million and fiber to 21,600 miles. CEO Steve Gray notes synergies from prior acquisitions and plans a 50 percent growth in sales staff.
MENTIONED IN THIS ARTICLE
McLeodusa
Steve Gray
Gray
Also Mentioned on This Page
Djia
Farm Aid Report
Leland Swenson
The
National Farmers Union
Grassley
Midwest
BizFacts
BNA
Ine
Pat Carr
Paul Trap
Krt
Gazette
Vince Pundt
Enlighten Technologies
Hayward
Edmondson
Sam Kain
Des Moines
Amazon.com
U.S
Tia A Eek Ein
VMF Capital, LLC
Eee
Third Avenue
George C. Ford
Seery & Ase
Princor Financial Services Corp
Jerry K. Ask Investment Services
Princor
Primus
Hiawatha
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