Wall Street advances despite manufacturing woes
A late surge in buying pushed stocks higher on Tuesday as investors shrugged off weak manufacturing and construction spending data. The Dow rose 55.51 to 9040.95, the Nasdaq up 17.33 to 1640.13, and the S&P 500 added 7.82 to 982.32 with about 1.84 billion shares traded.
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Wall Street
Dow
Standard & Poor
New York Stock Exchange
Boeing Wins AirTran Jet Order Amid Rivalry with Airbus
Boeing lands a multibillion dollar deal to supply AirTran Airways with up to 110 jets. AirTran agrees to 50 Boeing 737s with option for 50 more and 10 Boeing 717s. Contract value up to 4 billion dollars. AirTran plans to add 5,000 employees by 2008, now at 5,400. Senate fails to renew Chapter 12 extension for family farmers in bankruptcy.
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Boeing
Airbus
AirTran Airways
AirTran
U.S
Senate
Chuck Grassley
Iowa
House
Iowa economy shows rebound as Creighton index rises
Creighton University economist Ernie Goss reports the Iowa business conditions index climbing from 49.4 in May to 59.8 in June signaling an improving state economy in the second half of 2003. He expects positive job growth in Q3 and Q4, boosted by a weaker dollar and tax cuts, with durable goods orders rising sharply.
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Creighton University
Iowa
Ernie Goss
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Creighton
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Institute For Supply Managers
Nextel to Buy WorldCom Wireless Assets in Cash Bid
WorldCom Inc selected a $144 million cash bid from Nextel Communications unit to acquire network equipment licenses and tower leases for wireless high speed Internet. BellSouth Wireless Cable had made a $65 million offer in May but this was subject to auction.
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WorldCom Inc
Nextel Communications Inc
WorldCom
BellSouth Wireless Cable Inc
BellSouth Corp
Manufacturing Shrinks as ISM Index Dips Below Fifty
The Institute for Supply Management reported a June manufacturing index of 49.8, indicating shrinking activity, up from 49.4 in May. Separately, the Commerce Department said May construction spending fell 1.7 percent to an annual $869.8 billion, surprising analysts who expected a rise.
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Institute For Supply Management
Commerce Department
Gus' Food and Spirits opens in Coralville by Griffin pair
East Iowa couple Jim and Kathie Griffin open Gus' Food and Spirits at 2421 Coral Ct. Coralville. The restaurant seats 165, employs 35, and offers multiple rooms plus a bar with Gus' ale. Menu features Big Kahuna Burger and five cheese lasagna.
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Iowa
Coralville
the Gazette
Jim
Kathie Griffin
Gas’ Food and Spirits
Diversified Software Industries
DSI
Nexiq Technologies
Griffin
NEXIQ
InnoMatix LLC
Kathie
Coral Ct
Gus
Cheers
England
Buzz Orr
Jim Griffin
Iowa farmers markets struggle with vendor space
Des Moines market, drawing about 10 000 visitors weekly, faces pressure from vendors who import produce and non food items. Cedar Rapids, Marion, Iowa City and Coralville markets defend producer grown rules while Coralville allows vendor tails and tables. managers weigh business impact against local products.
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Des Moines
Iowa
Larry Cleverley
Missouri
Cedar Rapids
Marion
Iowa City
Coralville
Margaret Smith
Iowa State University
Ames
Philippines
Smith
American cuts 3100 flight attendants in layoffs
American Airlines began laying off more than 3100 flight attendants after a federal judge refused to block the job losses. Many workers had previously been with TWA before AMR bought the carrier in 2001. Some fear homelessness and loss of health care as final paychecks are issued by July 15.
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Dallas
American Airlines
Trans World Airlines
American
AMR Corp
TWA
St. Louis
Julia Bishop Cross
Flag and banner removal angers Cedar Rapids Square D workers
In Cedar Rapids, over 140 Teamsters Local 238 and 100 Machinists Local 831 workers faced layoffs as production lines shift to Mexico. Union leader Ron Hunt Jr. says employees were upset when a lighted American flag decoration was removed after a shift, while the banner proclaiming Made in USA was also taken down. Company HR chief Eric Everman says the flag will be reinstalled safely but the banner will not.
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the Gazette
Cedar Rapids
Mexico
USA
Teamsters Local 238
Square D
Schneider Electric
Ron Hunt Jr
Hunt
Tlaxacala
Eric Everman
Everman
Machinists Local 831
Hormel challenges Spam Arrest trademark rights
Hormel Foods accuses Spam Arrest LLC of diluting the Spam mark. The complaint argues the Seattle firm's use of the term harms Hormel's good will tied to its Spam lunch meat, after Hormel sold about 6 billion cans since 1937.
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Washington Post
Hormel Foods Corp
Hormel
Spam Arrest LLC
Seattle
U.S. Patent and Trademark Office
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By Marlene Lucas
Marlene Lucas