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Cedar Rapids Gazette in Cedar Rapids, Iowa

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Newspaper

Cedar Rapids Gazette

Location

Cedar Rapids, Iowa, United States of America

Date

Jun 26, 2003

Page

9

Stocks slip after smaller Fed rate cut disappointment

The Federal Reserve cut rates by a quarter point disappointing Wall Street. The Dow fell 98.32 points to 9,011.53 and the Nasdaq slipped 2.95 to 1,602.66 as investors had hoped for a larger move.

Federal Reserve Wall Street Fed Jeff Swensen John Hancock Funds New York Stock Exchange

Alliant Energy to Sell 15 Million Shares Next Week

Alliant Energy Corp plans to offer 15 million primary shares under its shelf registration. Proceeds will fund capital contributions to domestic utilities, debt repayment, and development of new generation and distribution facilities. Underswriters include Banc of America Securities Merrill Lynch co managers Robert W Baird Lehman Brothers Wachovia and Williams Capital. General Mills reports Q4 earnings 225 million or 59 cents per share on 2.55 billion in sales.

Alliant Energy Corp Banc of America Securities LLC Merrill Lynch & Co Robert W. Baird & Co Lehman Brothers Wachovia Securities Williams Capital Group Alliant Energy General Mills Inc Thomson First Call Golden Valley General Mills Cedar Rapids Iowa City

InnoMatix Forms From DSI Veterans In Iowa City Area

Three former Diversified Software Industries executives launch InnoMatix LLC in early this year and base at the University of Iowa Oakdale Technology Park. Ron Stahlberg Norman North Liberty joins founders from IVIS legacy to support existing customers. Ford Nissan Design America and Johnson Controls count among first clients.

Dave DeWitte Gazette Coralville Diversified Software Industries DSI Nexiq Inc Manchester Ested Ron Stahlberg North Liberty InnoMatix Vitronix Santa Barbara Calif NEXIQ IVIS Stahlberg InnoMatix Ford Motor Co Nissan’ Design America Johnson Controls Griffin Innovative Software Engineering Buzz Orr the Gazette Hugh Lynas Maytag Amana Middle Lynas Amana Society Maytag Corp United Way

Grassley pushes extension of Chapter 12 for farmers

Senator Chuck Grassley seeks to extend the Chapter 12 bankruptcy provision for farmers and ranchers beyond June 30, proposing a Jan 1 deadline. The House already approved a bill and the measure would let debt-ridden farmers reorganize without creditor consent and sell assets to sustain operations. An Iowa State study showed most Chapter 12 filers in 1986 87 remained in farming.

the Gazette Chuck Grassley House Grassley Iowa Senate Iowa State University Congress

Fed cuts key rate to 45 year low in bid to spark growth

The Federal Reserve lowered the federal funds rate from 1.25 percent to 1.0 percent, the lowest since 1958, in a 11-1 vote led by Fed Chairman Alan Greenspan. The move aims to energize consumer spending and business investment and signal readiness for further cuts if growth falters.

Washington Federal Reserve Fed Alan Greenspan Federal Open Market Committee Federal Funds Robert Parry Lynn Reaser Banc of America Capital Management

Durable goods orders dip as new home sales surge

May data show durable goods orders fell 0.3 percent from April after a 2.4 percent drop in March to April, while new home sales jumped 12.5 percent to a seasonally adjusted annual rate of 1.16 million, a record high. Existing home sales rose 1.2 percent to 5.92 million, the third highest on record, underscoring uneven economic recovery.

Washington America Commerce Department U.S National Association of Realtors

Harkin seeks mad cow prevention report

Sen. Tom Harkin with Sens. Cochran and Durbin urged the General Accounting Office to audit U S prevention of mad cow disease in cattle feed. They seek review of FDA feed ban compliance, test development for ruminant tissue, and further steps to shield U S cattle from BSE, citing a 2002 GAO warning.

Harkin Des Moines Tom Harkin D-lowa General Accounting Office Canada U.S Sens Thad Cochran Durbin Dll FDA GAO

Also Mentioned on This Page

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