Investors wary as GDP data spooks markets and Kmart begins liquidation
Stocks fall after government GDP report heightens fears of a frail economy and possible Iraq conflict impact. Dow drops 165.58 to 7,945.13 and Nasdaq loses 35.71, while Kmart begins store liquidations across 300 locations. Gillette reports higher fourth quarter profit from better battery division though continuing operations miss. Mortgage rates ease with one year ARMs at 3.89 percent, 30 year fixed at 5.90 percent.
MENTIONED IN THIS ARTICLE
Iraq
Dow
New York Stock Exchange
Duracell
Gillette Co
Thomson First Call
Gillette
Oral B Laboratories
Iowa City
Freddie Mac
Heinz to cut up to 150 jobs as Del Monte moves soup work
Del Monte Foods will shift the Muscatine Iowa soup production acquired from Heinz to Mendota Illinois, upgrading a $25 million plant and adding 100 jobs there. About 120 to 150 Heinz employees in Muscatine face layoffs as private label soups move, with Heinz continuing contract production through March 1 and possible extension.
MENTIONED IN THIS ARTICLE
the Gazette
Muscatine
H.J. Heinz Co
del Monte Foods Co
Heinz
del Monte
Midwest Soup
Starkist Tuna
Mendota
Ill
Robin Teets
Teets
H.J. Heinz
Pittsburgh
Richard Wolford
Rochelle
HJ. Heinz
Quality Chef
Cedar Rapids
Deflation tightens grip on U S retailers
Shoppers reel in bargains as prices fall across goods from toys to TVs while merchants face thinner profits. Analysts warn deflation fuels a cycle: stores cut prices to spur demand, profits shrink, and costs press on retailers already squeezed by energy and health care.
MENTIONED IN THIS ARTICLE
New York
Jakki Glivicky
Boston
L.L. Bean Inc
Circuit City Stores Inc
Kenwood
U.S
Richard Jaffe
UBS Warburg Securities
Frank Badillo
Retail Forward
Columbus
Ohio
Mutual funds face net outflow in 2002 after bear market
Investors pulled money from stock mutual funds in 2002 amid fears of war with Iraq and a weak economy. Stock funds posted $27.10 billion in net outflows, the first annual outflow since 1988, while bond funds gained $140.49 billion for the year and $7.37 billion in December.
MENTIONED IN THIS ARTICLE
New York
Investment Company Institute
Iraq
ICI
Tama plant revival targets March cattle shipments
Iowa Quality Beef prepares Tama plant for its first cattle shipment by March 1 as renovations near completion. The co op reports 600 production roles to fill and 400 head daily initial processing, rising to 1 200 soon, with 950 producers owning the plant bought last August for 2.5 million after Tama Pack bankruptcy.
MENTIONED IN THIS ARTICLE
TAMA
Iowa
Walt Solonynka
Iowa Quality Beef
Solonynka
Iowa Quality Beef Supply Cooperative
Tama Pack
Co-Op
Tractors to loop SE Iowa in June
WMT AM will host its fourth Great Eastern Iowa Tractorcade across Mount Pleasant Burlington Fort Madison and Mount Pleasant over four days ending June 25. About 900 people and roughly 450 tractors are expected with registrations full on opening. The event runs with WHO's tractorcade and visits sites in Mount Pleasant and nearby towns, coordinating with construction plans.
MENTIONED IN THIS ARTICLE
Loop
Iowa
WMT Tractorcade Weekend Run Sows 450 Tractors Across Iowa
The WMT Tractorcade runs Sunday June 22 to Wednesday June 25 starting at Old Threshers Reunion in Mount Pleasant with stops at Southeastern Community College Burlington Monday night and Rodeo Park Fort Madison Tuesday night. Lunches are at Morning Sun Elementary School Marquette Intermediate School St Paul and Harmony High School. Registration closed except for second drivers.
MENTIONED IN THIS ARTICLE
The
Gazette
Cedar Rapids
WMTAM
Great Eastern Iowa
Mount Pleasant
Burlington
Fort Madison
Iowa
WMT
Lisa Pucelik
WHO
Tractorcade
Old Threshers
Southeastern Community College
Rodeo Park
Pucelik
Texas
Wisconsin
Illinois
Missouri
Morning Sun
Marquette Intermediate
St. Paul
Harmony High School
Also Mentioned on This Page
Nasdaq
Kmart
Kmart Corp
Crossroads
Waterloo
Jack Ferry
AP Stockquote
U.S.D.A
Hr. Heinz
Mark Sandquist
Hi Fi House
Jenkintown
Hi Fi
Equity
Thomas F. Lydon Jr
Global Trends Investments
Newport Beach, Calif
Stephen Massocca
Equity Company
Pacific Growth Equities
Caseys Gen Store
Columbus McKinnon
PepsiCo
Come
Feds
MG Procter Gambie
Commun
Deere Co RF Micro Devices
Dillards Inc
Ralcorp Holding
Fastenal Co
Featherlite Inc
Rockwell Collins
Fiserv
Saks Inc
Genencor Intl Inc
Seated Air
Skyworks Solution
Gen Mills
Tanger Factory
Heartland Exp
Terex Co
Toyota Met
Hon Inds
Union Planters
Old Fire Cas
Intl Paper US Bancorp
Keane Inc
Kohls Corp
US Cellular
Longon
Unova Inc
Macc Pry Eat
Verizon Comm
WalMart
Marsh & McLennan Wells Fargo & Co
Maytag
WMT Tractorcade
Town Centre
Third Avenue
SE “Edar Rapids
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