Wall Street Falls as Global Slowdown Spurs Dow Under 10,000
Global slowdown fears push the Dow below 10,000 with a 317 point drop to 9,973.46 and the Nasdaq at 1,972.09 while the S&P 500 slides to 1,166.71. Eastern Iowa stocks show broad losses as WorldCom rises on guidance, General Mills slips on earnings, and Schering-Plough faces a federal price manipulation probe tied to its drug portfolio.
MENTIONED IN THIS ARTICLE
Wall Street
Standard & Poor
New York Stock Exchange
Iowa
WorldCom
General Mills
Keane
Schering-Plough Corp
Dr. Scholl
Schering-Plough
Kenilworth
N.J
Federal Securities and Exchange Commission
Energy futures slide as stock drop drags markets
Energy futures fell to two month lows on Wednesday as Wall Street slumped. Crude contracts were up in early trades on stock draw expectations and looming output cuts to be decided Friday by OPEC plus in Vienna. April WTI at 26.41, heating oil 70.39, unleaded 86.70, natural gas 4.911 per 1000 cu ft.
MENTIONED IN THIS ARTICLE
Wall Street
Vienna
New York Mercantile Exchange
McDonalds Sees Europe Sales Hit by Mad Cow Fear
McDonald’s reports European beef scare hurts January February sales in Germany Italy Spain Portugal and Greece. European sales drop weighs on first quarter profits and full year outlook while the chain trims store openings and boosts menu variety and safety messaging.
MENTIONED IN THIS ARTICLE
Germany
Italy
Spain
Portugal
Greece
Europe
McDonald’s
Oak Brook
Ill
New York Stock Exchange
First Call
Thomson Financial
Jack Greenberg
Rockwell systems draw global crowd at Collins event
About 200 Rockwell Collins Government Systems salespeople from around the world gather at Collins Plaza Hotel in Cedar Rapids to learn about new avionics and radio communications products. Philippe Memory of Toulouse and Marco Acca discuss selling systems over individual parts as Duane Grave explains multifunction displays used in Boeing KC 135 retrofits.
MENTIONED IN THIS ARTICLE
Duane Grave
Rockwell Collins
Rockwell
Rockwell Government Systems Business Fair
Collins Plaza Hotel
Defense
Phillipe Memory
Toulouse
France
Rockwell Systems
Italy
Finland
Iowa
Marco Acca
Rockwell Collins Government Systems
Acca
Grave
Payphone scam prosecutions target $425 million case
Regulators in Iowa and 24 states say 13,500 investors poured $425 million into ETS Payphones Inc. a Georgia based firm now in bankruptcy. The NASAA coordinates the action and has filed to recover funds for about 4,500 investors totaling $76 million.
MENTIONED IN THIS ARTICLE
Iowa
ETS Payphones Inc
ETS
Ashley Baker
North American Securities Administrators Association
Baker
OPEC consider 2 percent oil output cut to bolster prices
In London OPEC ministers prepare to cut production by about 2 percent or more at their Vienna meeting to support prices amid sagging global demand. The IEA warns of a dramatic downward revision to growth in oil demand this year as North American slowdown and mild winter curb consumption.
MENTIONED IN THIS ARTICLE
London
OPEC
International Energy Agency
The
IEA
Organization of Petroleum Exporting Countries
Vienna
Austria
North America
Rockefeller
MidAmerican seeks rate cut over alleged excessive profits
Iowa Consumer Advocate Gary Stewart asked the Iowa Utilities Board to roll back MidAmerican Energy Co rates by more than 77 million dollars. The filing claims profits are well above the allowed level as the utility shifts electricity from coal plants to other utilities for higher revenues.
MENTIONED IN THIS ARTICLE
Des Moines
MidAmerican Energy Co
Iowa Utilities Board
Gary Stewart
Stewart
Also Mentioned on This Page
Drug Company Investigated
Djia
BizFacts
United States
MidAmerican
Zazza
Sheraton
Four Points
Cedar Rapids
33Rd Ave
Sheratoncr.com
Collins Plaza
Collins Rd
Cedar Rapids, Iowa
Buchholz Financial Services, Inc
U.N. Equity Sales Company
One Financial Way
Cincinnati
Ohio National Financial Services
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!