Iowa Briefs and Wall Street Fluctuations Amid Market Swings
Stocks swung on Wednesday with the Dow closing at 7,689.98 down 68.08 as the market seesawed between gains and losses. In Iowa seven stocks rose, 29 fell while Penwest, McLeod, and Proffitt's rose, and Gillette, Procter & Gamble, Weyerhaeuser, Western Atlas, and United Technologies edged lower. Attorney General Miller announced a Zeneca price fixing settlement totaling 3.9 million nationwide with Iowa receiving 89,974.57 to enforce anti trust laws. Featherlite announced a 200,000 cash and stock deal to acquire Camp & Associates, strengthening ties to NASCAR. A Clinton plan to cut crop insurance commissions faces opposition from insurers. Five year Treasury notes yielded 6.298 percent in the auction with a 6 percent coupon on $10,000 face value.
MENTIONED IN THIS ARTICLE
Dow Jones
New York Stock Exchange
Iowa
Penwest
McLeod
Proffitt’s
Gillette
Procter & Gamble
Weyerhaeuser
Western Atlas
United Technologies
Tom Miller
Delaware Chemical Company
Zeneca Inc
Miller
Zeneca
U.S. District Court
Dallas
Treasury
Groups withdraw from pork production talks in Des Moines
Environmental and rural groups pulled out of the National Environmental Dialogue on Pork Production meetings in Annapolis. Nancy Thompson of the Center for Rural Affairs said the talks were flawed and unlikely to yield real oversight, while organizers insisted the session proceed without them.
MENTIONED IN THIS ARTICLE
Des Moines
Annapolis
Nancy Thompson
Center For Rural Affairs
Walthill
Neb
Thompson
National
National Resources Defense Council
The
Environmental Defense Fund
Centro to Expand in North Liberty Facility
Centro plans a 1.1 million expansion adding 18 000 square feet at its North Liberty plastics plant to hire 50 more employees over five years. The project by Point Builders will double office space and include a training center, with opening slated for October.
MENTIONED IN THIS ARTICLE
Gazette
Johnson County Bureau
North Liberty — Centro
North Liberty
Centro
Gary Rozek
North Dakota
Indiana
Rozek
Point Builders of
Cedar Rapids
Supreme Court widens scope of insider trading
The Supreme Court ruled 6 3 that individuals who do not work for a company or owe it duties can be prosecuted for trading on inside information. The decision reinstated James O Hagan's convictions and underscored that misappropriated non public information harms markets.
MENTIONED IN THIS ARTICLE
Supreme Court
Washington
Minneapolis
James O’hagan
Pillsbury
Ruth Bader Ginsburg
Clinton
Non-tariff barriers hinder U S livestock trade with Asia
House agriculture subcommittee heard that Asia, led by China, imposes rising non-tariff barriers and high duties that cost U S exporters billions. Rep. Richard Pombo said U S losses topped 5 billion dollars last year, with half in East Asia, prompting calls for more USDA funding and stronger APHIS defense. Ed Wiederstein of the Iowa Farm Bureau urged greater resources to counter barriers and sanitary restrictions.
MENTIONED IN THIS ARTICLE
Farm Bureau
USDA
U.S
China
Ed Wiederstein
Iowa Farm Bureau
House Agriculture
Animal Plant Health Inspection Service
APHIS
Wiederstein
Asia
Durable goods orders fall while existing home sales rise
U S commerce data show May durable goods orders fell 0.6 percent to 176.1 billion, the second drop in three months, while existing home sales rose 4.4 percent to a 4.24 million annual rate, the strongest since May 1996. Analysts say growth cooled but remains healthy, unlikely to trigger rate hikes.
MENTIONED IN THIS ARTICLE
Washington
Fed
Commerce Department
National Association of Realtors
Association
Russell Booth
Also Mentioned on This Page
Featherlite
Featherlite Manufacturing Inc
Camp & Associates Inc
Cresco
Camp & Associates
Concord
N.C
Featherlite Sports Group
Commission
House
American Crop Insurance Association
Pump Rivers of Services
Cnr
Nesco Signs Inc
Williams Boulevard
16Th Avenue
Scott Boucher
Nesco
Carmike Cinemas
Pork Producers Council
U.S. Department of Agriculture
Environmental Protection Agency
N. Liberty
By Jim Jacobson
Oxford
David Lynch
Federal Reserve
Reaven
First Street
Town
BBC
Five Seasons Center
Wylde Nept
Fox 100
American Airlines
American Eagle
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