Stocks slip after Michigan sentiment drops. energy and Casey's rise
U S markets retreated as the University of Michigan consumer sentiment index fell to 87.2 in mid June from 92.1, prompting profit taking. The Dow fell 79.43 to 9117.12 and the Nasdaq dropped 1.6 percent to 1626.49 while ethanol plant news and Casey’s General Stores helped lift gas and retail activity. Casey's reported fourth quarter earnings of 14 cents a share on $6.9 million, with yearly earnings at 80 cents a share on $39.5 million.
MENTIONED IN THIS ARTICLE
University of Michigan
Consumer Report
Barry Berman
Robert W. Baird & Co
Milwaukee
Michigan
Dow
Casey's
Hon Inds
Union Planters
Int
Paper
Old Fire Cas
Keane Inc
Kohls Corp
US Bancorp
US Cellular
Longyw Fib
Unova Inc
Macc Pro Eat
Verizon Comm
Marsh & McLennan
WalMart Sirs
Maytag
Wells Fargo & Co
Weverhauser
Eeee
Qwest reaches no raise contract with 27000 workers in 13 states
The Denver company with $20 billion debt and probes negotiates a two year deal with the Communications Workers of America Local 7101. Workers receive 1 to 3 percent lump sum only if earnings targets are met, while health coverage remains, co-pays rise. Union cites job security priorities amid industry woes. Ratification ends Aug 1 with contract expiry Aug 16.
MENTIONED IN THIS ARTICLE
CWA
7101
Bill Smith
Smith
Qwest
Com
Pany
U.S. West
Richard Notebaert
Cedar Rapids
Annie Hill
Notebaert
Iowa City
Iowa
Plains
Hill
Celestica to Cut 100 Jobs in Mount Pleasant Plant
Celestica Inc will eliminate 100 positions at its Mount Pleasant plant to reduce staffing by 23 percent due to slower business. Employees are offered voluntary layoff with extended health benefits severance pay and access to federal NAFTA education aid.
MENTIONED IN THIS ARTICLE
Celestica Inc
Laurie Hempen
Celestica Human Resources
NAFTA
Hempen
Gazette
News Service
Just Dogs Play Care opens in Coralville with canine focus
Coralville welcomes Just Dogs Play Care at 709 E Second Ave offering dog day care for 20 a day. Owner Carol Besler Gray tests each dog and provides outdoor runs or an indoor play arena with a movie night, plus pickup and delivery and discounts. The venture joins regional canine day cares like The Dog Zone in Cedar Rapids.
MENTIONED IN THIS ARTICLE
Ine Gazette
Oralville
Coralville
Carol Besler Gray
Just Dogs Play Care
Second Ave
Beethoven
Milo
Otis
Gray
Iowa
Dog Zone
Cedar Rapids
Nowt Ray
the Gazette Lady
Lindsay Eaves-Johnson
Deflation worries rise as price drop extends
The Labor Department reports a 0.3 percent May fall in the Producer Price Index, following a 1.9 percent drop from March to April. Energy prices lead the decline, with clothing and trucks also easing. Fed officials warn deflation remains a risk despite the remote probability.
MENTIONED IN THIS ARTICLE
Federal Reserve
Labor Department
Mark Zandi
Economy.com
Fed
Alan Greenspan
Deflation Hits Prices Across Goods and Services
Producer prices fall as deflation grips goods and services, stocks and real estate. Businesses see shrinking income and profits leading to layoffs and salary cuts, while individuals struggle to pay debt and bankruptcies rise.
Government weighs suspending WorldCom over $11 billion scandal
The GSA is reviewing WorldCom federal contracts worth over $1 billion annually after its $11 billion accounting scandal and bankruptcy. A suspension could last up to a year and debarment up to three years, affecting new or renewed contracts only. WorldCom spokesperson cites competitive pressures as the motive behind inquiries.
MENTIONED IN THIS ARTICLE
Washington
WorldCom Inc
U.S
WorldCom
Iraq
General Services Administration
Govern
Ment
GSA
Mary Alice Johnson
Johnson
Natasha Haubold
MCI
Iowa Utilities Board upholds 2002 Iowa Telecom rate denial
The Iowa Utilities Board sustains the 2002 rejection of Iowa Telecoms rate increase while letting the company opt out of rate equalization among its exchanges. The ruling gives Iowa Telecom 45 days to plan refunds of nearly 4 million and 60 days to file a new rate structure.
MENTIONED IN THIS ARTICLE
Iowa
the Gazette
Iowa Utilities Board
Iowa Telecom
Rob Hillesland
Also Mentioned on This Page
Nasdaq
L.G
Otter Creek
Brain Companies
Ashton
Jeff Broin
Sioux Falls
S.D
Casey
C.re
Denver
Qwest Communications International Inc
Communications Workers of America Local 7101
Mount Pleasant Company
AP Stockquote
AMEX
NEW Business
By Dave DeWitte
McLeodusa
Deve
Javid
Dewitte
Gazettecommunications.com
Apni
Fmamj
Jasond
Bureau of Labor Statistics
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