Rockwell Raises Dividend and Extends Repurchase Plan
Rockwell International Corp reports a quarterly dividend hike to 2.11 per share on common stock and Class A stock, with the first payment on Sept 4 for record holders as of Aug 13. The board extends the stock repurchase program by 500 million, totaling 2 billion. Open-market repurchases continue.
MENTIONED IN THIS ARTICLE
Rockwell International Corp
Note yield falls at auction to January low
Yields on seven year Treasury notes dropped to 8.57 percent at Wednesday's auction, the lowest since January, with an 8.50 percent coupon. The previous auction on April 11 posted 8.62 percent.
MENTIONED IN THIS ARTICLE
Treasury
Breeden Urges Overhaul of Securities and Banking Regulation
SEC Chairman Richard Breeden told a congressional committee that a regulatory overhaul is needed for the securities and banking industries. He outlined possible paths to reverse U.S. firms' declining market share but warned against change for its own sake. He noted a shift from seven of the world’s 25 largest banks being U.S.-based in 1970 to only one today, with many relocating headquarters to Japan.
MENTIONED IN THIS ARTICLE
Securities and Exchange Commission
SEC
Richard Breeden
U.S
United States
Plastic Recycling Center Offers Saturday Bottle Returns in July
Plastic Recycling Command Performance with locations in Lindale Mall Cedar Rapids and Old Capitol Center Iowa City announces Saturday July bottle donation for plastic hair care bottles. Each accepted bottle earns 15 percent off a retail purchase.
MENTIONED IN THIS ARTICLE
Command Performance
Lindale Mall
Cedar Rapids
Old Capitol Center
Iowa City
SBA Adds Five Disaster Counties to Loan List
The Small Business Administration designated five more counties Cedar Rapids district office says are now eligible for economic disaster loans. Black Hawk Des Moines Henry Jefferson and Keokuk join twenty total counties. Businesses harmed by storms and flooding since May 18 may call 1 800 527 7735. deadline Feb 26. Deloitte & Touche says its international firm acquires Spicer and Oppenheim affiliate in Britain. adds about 160 million to annual billings, effective Aug 1.
MENTIONED IN THIS ARTICLE
Small Business Administration
Cedar Rapids
Black Hawk
Des Moines
Henry
Jefferson
Keokuk
SBA
Deloitte & Touche
New York
Spicer & Oppenheim
Britain
Bodine Electric to Build Dubuque Production Plant
Chicago maker Bodine Electric Co announces a new 51,200 square foot plant in Dubuque expected to open next year. The facility will create about 50 jobs and continues the company’s 85 year history of producing small electric and gear motors.
MENTIONED IN THIS ARTICLE
Chicago
Electric Motors
Dubuque
Bodine Electric Co
Coleman recalls hoses for Cookin' Machine smokers
Coleman Co recalls about 30 000 Cookin Machine smoker cookers hoses over fire risk. Hoses may loosen from the valve connection after repeated use. Models built between November 1987 and March 1989. Consumers should stop using units and call Coleman at 1 800 835 3278 for a free replacement hose.
MENTIONED IN THIS ARTICLE
Coleman Co
Consumer Product Safety Commission
Coleman
Mexican Cement Dumping Charged by Commerce Dept
The Commerce Department charges Mexican firms with dumping cement into the U.S. market at less than fair value. If the ITC finds material harm to U.S. industry, duties could be imposed to raise import prices to parity with domestic levels.
MENTIONED IN THIS ARTICLE
U.S
Commerce Department
International Trade Commission
Ford joins Unocal in buying old cars
Ford Motor Co. partners with Unocal to buy 1000 pre-1971 cars at 700 dollars each to be scrapped. Unocal had planned to take 7000 such vehicles at the same price. The program aims to reduce smog with high emissions, plus Ford offers participants an extra 700 dollars toward new low-emission Fords like Festiva Escort and Mercury Tracer.
MENTIONED IN THIS ARTICLE
Los Angeles
Ford Motor Co
Unocal Corp
Unocal
Ford
Mid America economy stalls in second quarter 1990
Drake University professor Robert A. Kemp reports the Mid-America region shows very slow growth in the second quarter of 1990 with nine indicators pointing to a continued sideways slide into the third quarter. Despite slow trends, 78 percent of managers expect the national economy to be equal to or better than early 1990.
MENTIONED IN THIS ARTICLE
DES Moines
United States
Drake University
Robert A. Kemp
Mid-America
Mid America
Kemp
Dow Near Records As Market Rallies Amid Earnings Bets
The Dow Jones industrial average rose 41.83 points to 2932.67, closing near its June peak. Advancers led decliners by about 2 to 1 across NYSE stocks, with 971 up, 506 down and 521 unchanged in broad trading. Eastern Iowa linked stocks showed 22 gainers to 9 losers among 38 issues.
MENTIONED IN THIS ARTICLE
Associated Press and Gazette
Iowa
Banks of Iowa
Square D
James River
Procter & Gamble
Moore Corp
Longview Fibre
Philip Morris
Abbott Laboratories
Merck
Exxon
Chevron
Atlantic Richfield
Unocal
Mobil
Amoco
Boeing
General Electric
International Business Machines
DuPont
Wilshire Associates
American adds airport surcharge to prices in five cities
American Airlines announced a per ticket fee of 1 to 4 dollars at five airports LaGuardia Newark New Orleans Palm Beach and Southwest Florida to cover high airport charges. Spokesman Al Becker said the move will raise about 4 million dollars annually and take effect Sunday.
MENTIONED IN THIS ARTICLE
Fort Worth, Texas
American Airlines Inc
al Becker
Fort Worth
Newark
New Orleans
Caterpillar wins in appeal over dropped Cincinnati dealer
An appeals court upheld a verdict in Caterpillar Inc. favor in a suit by Highway Equipment Co. alleging illegal franchise termination. The 6th Circuit ruled Caterpillar could terminate without cause under the contract, noting Highway’s finances justified inventory and service reductions.
MENTIONED IN THIS ARTICLE
Cincinnati
Caterpillar Inc
Highway
U.S. Bankruptcy
6Th
U.S. Circuit Court of Appeals
Caterpillar
Highway Equipment
Caterpillar Financial Services Corp
B.D. Holt Co. Inc
Benjamin D. Holt
Holt
Caterpillar Ter
Danny J. Boggs
Boyce F. Martin
U.S
Charles W. Joiner
Michigan
Talks Continue On Equifax Telecredit Merger Terms
Equifax Inc of Atlanta and Telecredit Inc of Los Angeles say they are negotiating the terms of a definitive merger agreement. The parties reaffirm their joint announcement of June 21 and continue discussions.
MENTIONED IN THIS ARTICLE
Atlanta
Equifax Inc
Telecredit Inc
Los Angeles
RTC adopts accelerated resolution program for failing thrifts
The RTC and FDIC leaders outline a shift to closing troubled thrifts before failure, using a 90 day seizure rule and a buyer first approach to save taxpayers money. Separately, Edward T. McBirney III, former Sun Belt Savings president, is indicted in a $700 million real estate fraud case in Dallas.
MENTIONED IN THIS ARTICLE
Washington
L. William Seidman
Federal Deposit Insurance Corp
House Judiciary Subcommittee On Criminal Justice
Resolution Trust Corp
RTC
Seidman
S&ls
Texas
FBI
Dallas
Edward T. McBirney III
Sunbelt Savings Association
Norwest Negotiates for Colorado Banks
United Banks of Colorado, the state’s largest, confirms merger talks with Minnesota’s Norwest Corp. Both sides say no agreement yet and it may not happen. United Banks stock rose on the news while Norwest fell, closing near 204 after a two day slide.
MENTIONED IN THIS ARTICLE
New York Times
United Banks of
Colorado
Norwest Corp
Minnesota
United Banks
Norwest
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Breeden
Deloitte
Tribune Media 4
Midwest
Kansas
Missouri
Nebraska
Nort Dakota
Oklahoma
South Dakota
Wyoming
Dow
Gillette
General Mills
W.E. Bassett Co
Shelton
Conn
University of Mississippi Medical Center
Highway Equipment Co
Trust Corporation
S&l
General Motors
Cadillac
Cadillac Sedan
Seling
United
Tame Savin
Aspeste Eee
Ry Reba
Chevrolet
Geo
Buich
Larry
Larry D. Sharp
CCIM
SIOR
GRI
CRB
American Realty of
S.W. Cedar Rapids