Stocks Slip After Bond Rally. Eastern Iowa Issues Mixed
The Dow Jones Average fell 42.09 to 3 624.96 as bond prices plunged amid inflation fears. Eastern Iowa stocks showed 22 declines, 13 gains, eight unchanged with Deere & Co down 1 percent to 67 and U S Cellular down to 24 while Firstar Bank rose to 35 and Younkers climbed to 14.
MENTIONED IN THIS ARTICLE
Dow Jones
Iowa
Deere & Co
Firstar Bank
General Electric
Gillette
Norwest Bank
Procter & Gamble
Quaker Oats
U.S. Cellular
Allied Group
Younkers
Quaker Oats to Eliminate 300 Salaried Jobs
The Quaker Oats Co. will cut 300 salaried positions as it reorganizes its grocery sales, closing up to 15 field offices and consolidating operations into eight regional centers near Atlanta Baltimore Boston Chicago Dallas Detroit Los Angeles and San Francisco. A few Cedar Rapids staff will transfer to centers.
MENTIONED IN THIS ARTICLE
Quaker Oats Co
Cedar Rapids
Ron Bottrell
Atlanta
Baltimore
Boston
Chicago
Dallas
Detroit
Los Angeles
San Francisco
Bottrell
Iowa farmers plant record 8.9 million acres of soybeans
Government data show Iowa leading in corn acreage with 12.7 million acres and 8.9 million acres of soybeans planted this spring. Conditions improved from last year when floods delayed planting. 95 percent of corn and 91 percent of soybeans rated good or excellent. Futures traded as July corn rose to $2.49 and soybeans fell to $6.58.
MENTIONED IN THIS ARTICLE
Des Moines
U.S. Department of Agriculture
Iowa
Illinois
Daren Miller
Dumont
Agriculture
Mike Espy
Miller
Ethanol win boosts Iowa farmers with EPA ruling
The EPA approves ethanol use in reformulated fuel with at least 15 percent renewable content in 1995 rising to 30 percent in 1996. Iowa officials project $140 million more crop value next year and up to $280 million in 1996, while Farm Bureau predicts job gains and higher corn prices. Farmers credit years of pressure and advocacy in Washington for the milestone.
MENTIONED IN THIS ARTICLE
Mariene Lucas Gazette
EPA
Randy Balderston
Iowa Corn Growers Association
Alburnett Corn
Bush
Clinton
White House
Bill Horan
Rockwell City
Iowa
Dale Cochran
Dean Kleckner
American Farm Bureau
Glut seen in hog market drives price drop forecast
The USDA reports a 3 percent rise to 60.1 million hogs on farms as of June 1 and a 5 percent boost in sow breeding, signaling a 98 million hog slaughter in 1996. Analysts say prices may fall below 40 cents per pound, with Iowa and Missouri leading herd growth and liquidation risk rising in 1996. Local market impact expected as prices depress farm income and retailers adjust pork sales.
MENTIONED IN THIS ARTICLE
Steven P. Rosenfeld
DES Moines
U.S. Department of Agriculture
USDA
Ron Plain
University of Missouri
Plain
North Carolina
Missouri
Iowa
Jim Sigman
Securities Corporation of Iowa
Cedar Rapids
Genencor expands Cedar Rapids plant with new distribution center
Genencor International Inc expands its Cedar Rapids bioproducts facility with a multimillion dollar 3 000 square foot distribution center to serve North and South America. The center will split bulk packages and handle products from Cedar Rapids and Finland plants, adding eight new jobs to the plant's 70 employees. The project marks the fourth expansion since the 1991 $100 million plant opening. Genencor is a joint venture of Eastman Chemical Co and Cultor Ltd of Finland.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Genencor International Inc
41St Ave. Dr
North
South America
Ken Herfert
Genencor
Eastman Chemical Co. and
Cultor Ltd
Finland
Burlington Northern and Santa Fe Railroads to Merge
Burlington Northern Inc and Santa Fe Pacific Corp agreed to merge creating the largest U S rail network. The deal would cover 33 000 miles across the Midwest Southeast and West with Santa Fe shareholders receiving 0 27 BN stock per Santa Fe share.
MENTIONED IN THIS ARTICLE
Associated Press and Gazette
Burlington Northern Inc
Santa Fe Pacific Corp
United States
Midwest
Burlington Northern
Iowa
Burlington
Omaha Council Bluffs
Railroad Electronics
Rockwell Collins Commercial Avionics
Cedar Rapids
Interstate Commerce Commission
Santa Fe
Also Mentioned on This Page
Dow
Quaker Closing
Lowa
U.S
By Steven P. Rosenfeld
Chicago Board of Trade
Darrell Axtell
Axtell
C.R. Genencor
Tex
Santa Fe Rails
Fort Worth
Texas
Schaumburg
Robert Krebs
Burlington Northern and Santa Fe Railway Co
Linda Gustis
Farmers & Merchants
Une
Cedar Dear
Resolution Trust
Farmers Rapids
Unite Corporation
Federal
One & Merchants
Iowa Wills Bank
United Federal Savings
United & Merchants Savings
Farmers
RTC
Advanta
Farmers & Merchants Savings
Savings Association of Iowa
United Federaly
United Federal
F&m Bank
1St Ave
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