WorldCom scandal roils markets as Dow slips below 9000
Stocks tumbled after WorldCom accounting concerns sparked broad losses before mixed close. The Dow fell 6.71 to 9120.11, Nasdaq gained 5.34, with heavy trading on the NYSE. Procter & Gamble rose, Martha Stewart Living slumped amid insider-trading probe reports.
MENTIONED IN THIS ARTICLE
WorldCom
Dow
New York Stock Exchange
Procter & Gamble
Qwest
Weyerhaeuser
United Fire
Martha Stewart Living Omnimedia Inc
Style Maven
The
Wall Street Journal
Stewart
ImClone Systems Inc
APAC to close Maquoketa center and Cedar Rapids site
APAC Customer Services closes its Maquoketa call center on June 17 and will shut one Cedar Rapids inbound center as excess capacity drives staffing changes. About 120 jobs affected in Maquoketa and up to 86 in Cedar Rapids may transfer or be offered openings at other APAC centers. APAC operates 40 plus centers in many states serving UPS and AEGON USA.
MENTIONED IN THIS ARTICLE
Dave DeWitt
Gazette Apac
Maquoketa
Cedar Rapids
APAC
Park Place
Steffanie Petersen
Petersen
UPS
Aegon USA
Shoney’s Inn in Cedar Rapids Changes Name to Guest House
The 92 room four story Shoney’s Inn at 2215 Blairs Ferry Rd NE Cedar Rapids has become Guest House International. The change follows ShoLodge Inc acquisition of GuestHouse International’s franchise system in May. The hotel offers two meeting rooms, an exercise room and pool. Lucia Gage says reservations are being accepted under the new brand.
MENTIONED IN THIS ARTICLE
Shoney's Inn & Suites
Blairs Ferry Rd
GuestHouse International
Shoney's Inn
ShoLodge
ShoLodge Inc
New home sales rise to record pace in May
New home sales climbed 8.1 percent in May to a seasonally adjusted annual rate of 1.03 million, the Commerce Department said, a record monthly level spurred by low mortgage rates and rising housing values. Separately durable goods orders rose 0.6 percent, the fifth increase in six months, signaling uneven factory improvement amid a weak stock market.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
National Association of Realtors
New Home Sales Report Shows Declines and Shifts
The report tracks new single family home sales at a seasonally adjusted annual rate. It notes a decline from a prior 10.3 percent advance and mentions orders for machinery dipping 0.4 percent after a 4.5 percent rise.
Nissan of Iowa City plans 9500 square foot showroom
Nissan of Iowa City announced a new 9,500 square foot showroom at Highway 1 West in Iowa City expanding display space for over 100 vehicles. General manager Guy Manasse said the design emphasizes curb appeal and integrates sales service and parts to showcase Nissan products ahead of a December grand opening. Construction is led by Knutson Construction Services with design by Gensler Design and Environmental Design.
MENTIONED IN THIS ARTICLE
Iowa City
Nissan of
Highway 1 West
Guy Manasse
Midwest
Manasse
Nissan
Knutson Construction Services of
Gensler Design
Detroit
Environmental Design
Des Moines
Fed holds key rate at 1.75 percent for fourth decade
The Federal Reserve left the federal funds rate unchanged at 1.75 percent after a two day meeting. The decision keeps banks' prime rate at 4.75 percent and aims to sustain a fragile recovery amid WorldCom scandals and lingering job worries.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Alan Greenspan
Federal Open Market Committee
Federal Funds
Also Mentioned on This Page
Nasdaq
Martha Stewart
Tumble
Wider
Algonquin
Algonquin Hotel
Round Table
Denver
Miller Global Properties Fund IV
Jim Miller
Dorothy Parker
Robert Benchley
Alexander Woollcott
George S. Kaufman
Chicago Board of Trade
Ocityune
AP Stockquote
Local
C.R
Deerfield
Ill
David DeWitte
Davidd
Urbana
Steve Meyer
Urbana Family Medical Clinic
W. Main St
Virginia Gay Hospital Clinics
Home Health of
Vinton
Michele Barnes
Brian Meeker
Keith Elwick
Shoney’s Inn
Guest
George C. Ford
Gazelle
GuestHouse International Properties
Hendersonville
Tenn
Sumner Suites
Guest House International
American Automobile Association
Department of Commerce
J.C. Auto
Highway 6 East
Fed
Sung Won Sohn
Wells Fargo
Iowa
ADM
Aegon No
Alcoa
Alliant Energy
Bandag
Casey's
Columbus McKinnon
Commercial Federal
Conexant
Deere
Dillard’s
Fastenal Co
Featherlite
Fiserv
General Mills
Gillette
Heartland Express
Heinz
HON and
International Paper
Keane Iic
Koni's
Longview Fibri
Marsh & McLennan
Maytag MCI Group
McLeodusa Inc
n/c
Mestek McLeodusa Inc
Tanger Factory
Terex
Toyota
Union Planters
Anove
Bancorp
US. Cellular
Verizon
Wal-Mart
Wv Obi Nic
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