Dow Drops as Investors Digest Bank News and Oil Rebounds
The Dow Jones fell 115.49 points to 7,660.37, off 1.5 percent, while the S&P 500 declined 16.55 and Nasdaq shed 37.11. Oil rallied late as crude rose to $53.98, and gasoline averaged $1.966 a gallon. Analysts cited expected pullback after gains tied to lifting bad loans from banks and strong bond auctions.
MENTIONED IN THIS ARTICLE
Wall Street
Dow
Standard & Poor
New York Mercantile Exchange
Phil Flynn
Alaron Trading Corp
U.S. Treasury
U.S
Housing prices fall 6.3 percent year over year
A government FHFA report shows U.S. home prices declined 6.3 percent in January from a year earlier on a seasonally adjusted basis. Prices rose 1.7 percent from December to January due to geographic sales mix shifting toward less affected areas.
MENTIONED IN THIS ARTICLE
U.S
Federal Housing Finance Agency
No sale: Creditors won’t bend at Agriprocessors auction
An auction for Agriprocessors assets was extended after two days of bidding failed to meet creditors’ demands. First Bank Business Capital and MLSC Asset Holdings led with bids but would only participate if competitors refrained from bidding on their collateral. Bank officials argued bids were inadequate, while the trustee seeks negotiations to produce a qualifying bid and avoid loss of bankruptcy financing.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Gazette
Cedar Rapids
Agriprocessors
First Bank Business Capital of
St. Louis
First Bank
Kosher Standard LLC
Natural Source Holding LLC
MLSC
U.S
Habbo Fokkena
Fokkena
Dan Childers
Joseph Sarachek
Paul Kilburg
Childers
Postville
Lloyd Palans
Palans
Sarachek
Private Equity Investors LLC
T5 Equity Partners
David
Dewitte
Gazcomm.com
Taste of Cedar Rapids comes to Eastern Iowa Airport
The Cedar Rapids Airport Commission approved a seven year contract with SSP America to run food and beverage concessions in the passenger terminal. Items will feature Tic Toc Cedar Rapids and Brewed Awakening coffee across main level and Cedar Landing areas. Construction begins late next month with completion by Memorial Day.
MENTIONED IN THIS ARTICLE
Fisheye
Millstream
Iowa
SSP America
Lansdowne, Va
Cedar Rapids
George C. Ford
Gazette
Edar Rapids
Kcrg-Tv9
Kacy Smith
First Ave
Cedar Landing
Coe College
Richard Marsceau
Dan Mann
C Concourse
Mann
Five Seasons
Iowa sees small February rise in unemployment and job losses
Iowa's statewide unemployment rate rose to 4.9 percent in February as non-farm payrolls fell by 6,900. Manufacturing dropped 8,400 jobs while trade transportation and utilities added 1,400. Cedar Rapids and Iowa City MSAs posted lower jobless rates, with officials noting continuing layoffs amid slow sales.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Gazette
Cedar Rapids
Politan Statistical Area
Cedar Rapids Msa
Iowa City Msa
Iowa
Elisabeth Buck
Iowa City
Mortgage scams warned as new home modification program Debunked
Oakland County housing official Kathy Williams cautions buyers about blue sky calls and fake rescue plans tied to Making Home Affordable. The National Federation for Credit Counseling warns confusion could fuel scams. use federally approved nonprofit counselors and lender guidance to pursue loan modification with proper documentation.
MENTIONED IN THIS ARTICLE
Kathy Williams
Oakland County
Mich
National Federation For Credit Counseling
Financialstability.gov
Fannie Mae
Freddie Mac
Williams
Robin Stout Migala
Hud. Gov
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Pepsi
PepsiCo Inc
Aquafina
N.Y
Marion
Orscheln Farm & Home
Seventh Ave
Orscheln
W George
Ford
Susan Tompor
Detroit
Free Press
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