Procter & Gamble shock hits Dow as stocks retreat
The Dow Jones fell 144.14 to 10,668.72 and the Nasdaq slipped 13.70 to 3,825.56 after Procter & Gamble issued a earnings warning and announced a management shake-up. RF Micro Devices and WorldCom also declined while unemployment benefit claims rose to 309,000 for the week ending June 3 amid Memorial Day data shifts. Coca Cola resumes hiring after a major realignment that cut 5,200 jobs and reshaped its workforce through layoffs, attrition, and outsourcing.
MENTIONED IN THIS ARTICLE
Procter & Gamble
Wall Street
Dow
New York Stock Exchange
Iowa
WorldCom
Labor Department
Coca-Cola Co
Coke
Ben Deutsch
Deutsch
Name Industrial
Motorola
M Transport
Com
Compac
American Stock Exchange
Cisco
Oracle
Amex
Ing
Biotech
Computer
Finance
Indust
Standard & Poor's Insurance
Telecom
Indus Ishsas
Wilshire
Wilshire Associates
Associated Press
Mortgage rates slip for 30 and 15 year loans
Freddie Mac reports week ending June 9 shows 30-year fixed rates at 8.32 percent, down from 8.54. 15-year at 8.04, down from 8.24. one-year ARM near nine-year high at 7.24. Points average about 1 percent.
MENTIONED IN THIS ARTICLE
Freddie Mac
Playtex recalls 2 million Classic Patterns pacifiers Cherubs
Playtex Products recalls two million Classic Patterns Cherubs and Soft Comfort latex pacifiers due to aging latex causing 21 reports of nipples detaching from shields. No injuries reported. Consumers should stop use and return for a free replacement or $3 coupon. address provided in Whippany New Jersey.
MENTIONED IN THIS ARTICLE
Playtex Products Inc
Consumer Product Safety Commission
Playtex
Playtex Pacifiers
Troy Road
Whippany
N.J
Microsoft appeals order to split company amid antitrust case
Microsoft seeks a stay of U.S. District Judge Thomas Penfield Jackson’s breakup ruling as the government and company enter a protracted appeal process. Legal experts offer mixed views on chances, with settlement as another possibility. Jackson says he preferred a negotiated remedy but chose breakup to avoid complex regulatory controls.
MENTIONED IN THIS ARTICLE
Washington
Microsoft Corp
New York
Joseph Angland
U.S
Thomas Penfield Jackson
Microsoft
Justice Department Antitrust
Joel Klein
Jackson
Bill Gates
ABC
Gates
Washington Post
Alliant microturbine powers Toledo care center
Alliant Energy commissioned a Capstone microturbine at Grandview Acres Toledo delivering 28 kilowatts from natural gas. The unit heats water with exhaust and boosts overall efficiency to 80 percent, cutting costs and reducing greenhouse gases. Distributed generation aims to bring small scale power closer to customers.
MENTIONED IN THIS ARTICLE
Eliot Protsch
Alliant Energy-Ies Utilities
Grandview Acres
Toledo
George C. Ford
Alliant Energy Corp
Capstone Turbine Corp
California
Grandview
Alliant Energy Resources
Alliant Energy
Capstone Turbine
Automakers extend health benefits to same sex partners
GM Ford and Chrysler announce extending medical dental and prescription benefits to same sex domestic partners starting Aug 1 covering about 465000 employees. The plan follows labor pact talks with the United Auto Workers and will not include retirees.
MENTIONED IN THIS ARTICLE
Ford
Chrysler
Detroit
General Motors Corp
Ford Motor Co
DaimlerChrysler AG
America
Kim Mills
Human Rights Campaign
Washington
The
United
David Murphy
United States
Eastern Iowa dealers seek court ruling on BMW sale dispute
Chezik Sayers Honda of Iowa City and Bob Zimmern Ford Cedar Rapids clash over BMW franchise ownership with a Linn County District Court petition claiming a December sale pact and a June 29 hearing to decide rights. An injunction blocks a sale to a third party and Chezik Sayers seeks court-ordered dealership management pending trial.
MENTIONED IN THIS ARTICLE
Iowa
Cedar Rapids
Chezik Sayers
Honda
Iowa City
Bob Zimmerman Ford
BMW
Peter Riley
Zimmerman
Linn County
Zimmerman Ford
Chezik-Sayers
Riley
Procter & Gamble reshuffles top executive lineup
Procter & Gamble replaces top executive Durk S. Jager with Alan G. Lafley as the board names John E. Pepper chairman. The Cincinnati firm warns fourth quarter earnings per share may match last year, sending shares down about 10 percent after a string of disappointing results.
MENTIONED IN THIS ARTICLE
Cincinnati
Procter & Gamble Co
Durk S. Jager
Tide
Crest
Pampers
Iowa City
Jager
P&g
Warner-Lambert
Also Mentioned on This Page
P&g News
Coca-Cola
Djia
BizFacts
Mee
Pat
Steven Salop
Georgetown University Law and Economics
Avro Leido
Alliant
Dark Jager
Alan Lafley
Line of Credit
Benton
Buchanan
Cedar
Delaware
Johnson, Jones, Iowa, & Linn
Collins Community Credit Union
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