Wall Street slips as major indices end lower
A subdued trading day on Wall Street saw the Dow fall 21.45 points to 10,106.13 and the Nasdaq slide 20.39 to 1731.49. Volume was light with 1.68 billion shares traded as denial of gains persisted through the session. Fiserv, Kohl’s and General Mills moved modestly, while Volkswagen recalled 130,000 cars worldwide for braking fault.
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Wall Street
New York Stock Exchange
Fiserv
Kohl’s
Casey’s General Stores
General Mills
Germany
Volkswagen
United States
Americas
Hans-Gerd Bode
McLeodUSA Drops Exec Amnesty Plan in Bankruptcy
McLeodUSA gains approval to circulate its bankruptcy disclosure statement but drops the broad liability releases for top executives after objections from the SEC and class-action plaintiffs. About a dozen suits allege failures to take timely impairments and reveal financial strain prior to Chapter 11 filing to shed bond debt.
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The
Gazette
Cedar Rapids
McLeodusa Inc
U.S
Irwin Katz
McLeodusa
Alan Maza
U.S. Securities and Exchange Com
McLeodUSA Seeks Offender Protection Amid Bankruptcy Plans
McLeodUSA lawyers push for liability protection for officers and many creditors to aid post bankruptcy recovery while shareholders face ongoing lawsuits. The case notes a carve-out in the disclosure statement to preserve SEC and securities claim rights, with only the company seeking a release from liability. McLeodUSA aims to emerge from bankruptcy by quarter end, and shareholder actions continue to trickle in.
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McLeodusa
Lockridge Grindal Nauen Pup
Minneapolis
McLeod USA
Clark McLeod
Steve Gray
Chris Davis
McLeod- USA
Maza
SEC
Wells Fargo moves SCI to renovated Wells Fargo Bank site
The SCI Financial Group will relocate by early May from 200 Second Ave SE to renovated space on ground and first floors of Wells Fargo Bank at 150 First Ave NE. The move unites Wells Fargo and SCI services in one location and involves about 50 SCI employees. SCI becomes a division of Wells Fargo Investments LLC after the relocation.
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Gazette
Cedar Rapids
SCI Financial Group
Second Avenue SE
SCI
Second Ave. SE
Wells Fargo Bank
First Ave. NE
Wells Fargo
Benton Banks
Wells Fargo and
Don Muller
Wells Fargo Investments
First Avenue SE
Wells Fargo Investments LLC
Justice Electric
Tom Web
Quasqueton
First Avenue
First Street
Second Ave
Bank
Economy grows on big-ticket spending in Q4
U S GDP rose at a 1.4 percent annual pace in Q4 2001 led by a 39.2 percent surge in purchases of cars and other big-ticket goods the strongest since 1986. Consumer spending, about two thirds of total activity, powered the improvement as analysts expect 1.5 to 3.5 percent growth in the current quarter.
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Washington
U.S
United States
Commerce Department
Principal Financial announces 204 layoffs
Principal Financial Group cuts 204 jobs in retirement services citing automation and a soft economy. Des Moines leads with 96 Loses, Mason City 41, Waterloo 36, Spokane 31. Remaining workers may transfer, with severance for those not reassigned. Company backs $450 million stock buyback as earnings dip.
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DES Moines
Dorsett
Mason City
Waterloo
Spokane
Wash
Principal Financial Group Inc
J. Barry Griswell
Enron
New York Stock Exchange
Unemployment Up in Eastern Iowa Counties in January
Unemployment rose in Linn County by 900 to 4 800 and in Johnson County by 200 to 2 000 as seasonal layoffs hit and construction and retail slowdowns weighed on jobs. Statewide figures fell to 3 3 percent, with Clayton County at 8 2 percent and Clinton at 7 percent while Iowa City posted 2 9 percent.
MENTIONED IN THIS ARTICLE
Iowa
Linn County
Johnson County
Ann Wagner
U.S
Clayton County
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Tate and Financial Consultation
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Alan Green
Span
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Greenspan
Tim O'Neill
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Principal Financial
the Gazette
Workforce Development
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1St St. SE
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