Dow sinks to two-year lows as investors slam stocks
Investors react to the Fed rate cut with a broad market slide. The Dow Jones falls 238.35 to 9720.76, its lowest close since March 24, 1999, while the Nasdaq drops 93.74 to 1857.44. Quaker Oats named a top corporate citizen. Cedar Rapids hosts its large cereal mill.
MENTIONED IN THIS ARTICLE
Federal Reserve
Wall Street
Dow Jones
New York Stock Exchange
Iowa
Weyerhaeuser
IBP
Gillette
International Power
Rockwell
RF Micro Devices
Genencor
Quaker Oats
Fiserv
Deere
Quaker Oats Co
Business Ethics Magazine
Quaker
Quaker Oats Foundation
Cedar Rapids
Dow
Fed
Alan Greenspan
David Jones
Aubrey G. Lanston & Co
New York
Coca Cola forms incubator venture Fizzion
Coca Cola launches Fizzion to back 10 to 15 startups with up to 250000 dollars each. The incubator offices sit near Coke’s Atlanta headquarters and Fizzion takes about 12 percent equity in each recruited company.
MENTIONED IN THIS ARTICLE
Coca-Cola
Fizzion
Coke
Atlanta
Meijer recalls All That Glitters toy wand in risk
Meijer Inc recalls about 5000 All That Glitters toy wands sold in Illinois Indiana Kentucky Michigan and Ohio from January 2000 to January 2001 for 2 to 4 dollars due to injury risk. The wand features a gold handle a clear top with pink liquid and glitter and lights up when pressed. Stores offer refunds.
MENTIONED IN THIS ARTICLE
Meijer Inc
Meijer
Illinois
Indiana
Kentucky
Michigan
Ohio
John Zimmerman
Fed Cuts Rates Half Point as Market Reacts Poorly
The Federal Reserve lowered the federal funds rate by 0.5 percent to 5 percent citing risks of prolonged weakness. Wall Street demanded a bigger cut, sending the Dow 238 points lower and Nasdaq down sharply, while economists stressed the move signaled commitment to avoiding recession.
MENTIONED IN THIS ARTICLE
Washington
The
Federal Reserve
Wall Street
Fed
Paul Volcker
Jerry Jasinowski
National Association of Manufacturers
Panchero's Mexican Grill opens Cedar Rapids store
Cedar Rapids first Panchero's Mexican Grill opens at Lindale Crossing following Iowa City location that opened Feb 28. The eatery offers display cooking and fresh tortillas with long lunch lines and planned later hours, with a second Cedar Rapids site planned on the west side.
MENTIONED IN THIS ARTICLE
Anderson
Panchero’s
Cedar Rapids trade show set to draw thousands
The Cedar Rapids Area Chamber of Commerce opens its ninth Open For Business Trade Show at the U S Cellular Center. With 170 exhibitors and nearly 5000 expected attendees, the two day event runs 11 am to 7 pm Wednesday and 9 am to 3 pm Thursday. Admission is 5 with free passes at The Gazette or Chamber office. PM Exchange networking runs 5 to 7 pm Wednesday with fees.
MENTIONED IN THIS ARTICLE
Wazetle Financial
Cedar Rapids
Cedar Rapids Area Chamber of Commerce
U.S. Cellular Center
Iowa
Gazette
Chamber
First Ave. NE
IBP Buyout by Tyson Seen Pending Completion Price Hit
IBP Inc. expects Tyson Foods to complete its 3.2 billion purchase after regulators finish reviewing IBP finances. Analysts doubt cash and stock at 30 per share will hold, predicting a price 1 to 4 dollars below. An SEC inquiry into DFG Foods caused a 60.4 million fourth-quarter charge, lowering prior estimates from 108 million.
MENTIONED IN THIS ARTICLE
IBP
Tyson
Little Rock
IBP Inc
Tyson Foods Inc
Gary Mickelson
Ed Nicholson
DFG Foods
Securities and Exchange Commission
Premium gas prices may rise in Iowa due to shortages
Iowa motorists could face higher premium gasoline costs as wholesale prices for high octane fuel widen the gap with regular gas. DNR energy analyst David Downing notes premiums may affect drivers with sports cars while suggesting ethanol blends as a cheaper alternative.
MENTIONED IN THIS ARTICLE
Gate
Cedar Rapids
Iowa
David Downing
Iowa Department of Natural Resources
Downing
DNR
Sioux City
Iowa City
Also Mentioned on This Page
Djia
Children’s
BizFacts
Kat
Coinstar
Arch
Pat Carr
Paul Trap
West Side
Scott Byers
Iowa Realty Commercial
NAI
Hollywood Nails
SunCom
Liebke-Hoyt
Ula
C.R
George C. Ford
Cial
Ron Corbett
Primus
Hiawatha
Management
Aah Ee
Cae
Aya
le Savate A
Zazza’s
Sheraton
Four Points
33Rd Ave
Sheratoncr.com
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!