Markets slip as benchmarks dip below 700 level
Stocks extended losses in an erratic session as investors faced a tepid economy. The S&P 500 closed below 700 for the first time since Oct 28, 1996, while the Dow fell 37.27 to 6726.02 and the Nasdaq slipped 1.84 to 1321.01 in modest losses from Monday.
MENTIONED IN THIS ARTICLE
Standard & Poor
Fawn Manufacturing to rehiring 80 workers over time
Fawn Manufacturing owned by Wittern Co plans to recall at least 80 laid off workers as demand improves. About 130 employees were laid off December 1 due to sales drop. CEO John Bruntz said many are returning already and future hires depend on the economy.
MENTIONED IN THIS ARTICLE
Clive Company
Fawn Manufacturing
Fawn
The
Wittern Co
John Bruntz
Energy oil rally with trend still lower
Oil prices rose in volatile trading Tuesday with benchmark U.S. crude up 1.50 to 41.65 a barrel and Brent up 1.49 to 43.70, signaling only a modest recovery after weeks of declines. Analyst Stephen Schork says demand remains unreassuring as the market trends downward. AutoZone reports Q2 profit up 9 percent to 115.9 million on 1.45 billion in sales, aided by strong parts demand amid maintenance replaces new purchases. Blockbuster hires Kirkland & Ellis to secure financing as it seeks to stave off bankruptcy amid a worsening recession. refinancings planned ahead of March 19 earnings release.
MENTIONED IN THIS ARTICLE
New York Mercantile Exchange
London
Brent
ICE Futures Exchange
Stephen Schork
AutoZone Inc
Thomson Reuter
Blockbuster
Kirkland & Ellis
Uge
Cedar Rapids
Rubashkins rental firm files bankruptcy in Postville
Nevel Properties Corp led by Sholom and Tzvi Rubashkin filed for Chapter 11 bankruptcy amid a foreclosure by Citizens State Bank of Postville. The action affects about 60 rental properties tied to Nevel and related firms SFG and Amereeka. The case follows Agriprocessors impacts and aims to halt utility shutoffs as tenants face job losses.
MENTIONED IN THIS ARTICLE
Dave DaWitte
The
Gazette
Postville
Agriprocessors
Sholom Rubashkin
Nevel Properties Corp
Citizens State Bank of
Tzvi “Heshy
Rubashkin
Aaron Rubashkin
Nevel Properties
Nevel
SFG
Amereeka Properties
Des Moines
Jeffrey Goetz
Rubashkins
Goetz
Never Properties
Waukon
Citizens State Bank
David
Dewitte
Gazcomm.com
Social media fuels business growth say area experts
Janet Borholm reports Mobile Demand in Hiawatha leads social media push with blogging and viral marketing. Cedar Rapids and Cedar Rapids area marketers Quinn and Neumann stress blogs and networks boost search rankings and customer relationships, urging firms to adopt Web 2.0 tools.
MENTIONED IN THIS ARTICLE
Janet Borholm
Gazette
Att Miller
Hiawatha
Technorati
WordPress
Facebook
MySpace
YouTube
Jeff McEachron
Internet Marketing Group
Cedar Rapids
McEachron
Jen Neumann
Mark Tade
the Gazette
Matt Miller
Mobile Demand
Fed launches program to spur consumer loans
The Federal Reserve and Treasury launched a program to spur lending for autos education credit cards and other consumer debt. The Fed will buy securities backed by debt totaling up to 200 billion and expand to commercial real estate later. Investors must pledge eligible collateral by March 17 with three year loans to start on March 25.
MENTIONED IN THIS ARTICLE
Washington
Fed
Federal Reserve
Treasury Department
Ben Bernanke
Senate
Anil Kashyap
University of Chicago
Booth School of Business
Kashyap
BBB's new grades draw scrutiny from Michigan firms
The BBB assigns A to accredited firms like Leonard & Co while nonaccredited entities receive lower marks. Critics question pay for accreditation as Marcy Hayes notes a B minus for her nonaccredited firm, though BBB officials defend scoring as broader than accreditation status.
MENTIONED IN THIS ARTICLE
Better Business Bureau
BBB
Bbb.org
Leonard & Co
Troy
Mich
Finra.org
Financial Industry Regulatory Authority
Marcy Hayes
C&b Scene Inc
Southfield
C&b Scene
Vickie Galpin
Eastern
Michigan
Galpin
FINRA
Also Mentioned on This Page
Wall Street
Clive Vending Machine Firm
McEachron Internet Marketing Group
Neumann
Susan Tompor
Detroit
Free Press