Wall Street slips as orders drop deepen economic gloom
The market eased after February durable goods orders fell 1.7 percent led by declines in refrigerators, cars, and computers. The Dow dropped 109.74 to 12,422.86 and the Nasdaq slid 16.69 to 2324.36 as home sales also fell 1.8 percent to a 13 year low, underscoring weak momentum. Meanwhile, McLeodUSA investors await final settlement checks as Analytics Inc. prepares to distribute over 18,000 payments from a shareholder class action.
MENTIONED IN THIS ARTICLE
Wall Street
Thomson Financial
IFR
Dow
McLeod USA
Mark Bennett
U.S. District Court
Cedar Rapids
Analytics Inc
McLeodusa
New Century Audit Faults Accounting Practices
An examiner cited seven improper accounting practices at New Century Financial Corp in 2005 and 2006. The report says aggressive loan origination and rising risks were not properly managed by senior management, contributing to the companys rapid downfall.
MENTIONED IN THIS ARTICLE
New Century Financial Corp
Michael Missal
New Century
Agriculture Dept weighs keeping retailer names in recalls
The Agriculture Department considers hiding retailer identities in meat recalls if health risk is not extreme. The move would soften a rule requiring public retailer names during all recalls, amid industry opposition. The department aims to finalize a rule while facing pressure from the food industry.
MENTIONED IN THIS ARTICLE
Agriculture Department
California
Gas price snapshot in the Corridor yesterday
A random survey shows gas prices across the Corridor as of yesterday afternoon with prices rounded to the nearest cent. The report notes a low price today of 2.44 dollars in 2007 dollars equivalent terms.
Iowa personal income growth above average in 2007
Iowa per capita personal income rose 6 percent in 2007 to 35,028, beating the national 5.2 percent gain to 38,611. Statewide data cite stronger renewable energy growth, unemployment trends, and exports as drivers. City metro figures for 2007 not yet released. 2006 ranks show Cedar Rapids, Iowa City, Des Moines, Dubuque, and Waterloo Cedar Falls with varied standings. Connecticut led nationally. Mississippi remained lowest. Minnesota topped the Midwest with 5.6 percent growth.
MENTIONED IN THIS ARTICLE
David DeWitte
Gazette
Iowa
Chet Culver
Culver
Cedar Rapids
Iowa City
Des Moines
Dubuque
Waterloo
Cedar Falls
Connecticut
Mississippi
Cedar Rapids airport rejects sole bid for 891410 firetruck
The Cedar Rapids Airport Commission on Monday rejected Oshkosh Truck Corp.’s single bid of 891,410 for a Striker 3000 rescue and firefighting vehicle, saying the price exceeded the 880,000 budget. With Rosenbauer America withdrawing and a bid extension not received, officials will pause the project for about nine months and seek multiple bids. The $4.5 million rescue station project remains under way, funded by state funds, passenger facility charges and general funds, with no city tax or federal money.
MENTIONED IN THIS ARTICLE
Oshkosh Truck Corp
Cedar Rapids Airport Commission
Oshkosh
Wis
Dallas-Fort Worth International
George C. Ford
Gazette Edar Rapids
Cedar Rapids
Dan Mann
Commission
Rosen
Bauer America
Emergency One
Mann
Lyons
S.C
Rosenbauer America
Rosenbauer
Ocala
Fla
Don Swanson
Iowa
Quad City International
George.ford
Gazettecommunications
Alliance group studies switch grass market for Alliant plant
A non profit grower group and Allianz subsidiary Interstate Power and Light form a partnership with Prairie Lands Bio-Products to study market viability for switch grass to fuel up to 10 percent of the 630 megawatt Sutherland Unit 4 generating station in Marshalltown. The project seeks cost effective collection, processing and delivery methods plus environmental and agricultural benefits ahead of a 2018 start up.
MENTIONED IN THIS ARTICLE
David DeWitte
The
Gazette
Alliant Energy
Sutherland Unit
Marshalltown
Tom Aller
Allianz
Interstate Power & Light
Prairie Lands Bio-Products Inc
Prairie Lands
Chariton Valley
Alliant
Ottumwa
Top 10 state income growth 2006 to 2007
State income growth rates for 2006 to 2007 are listed with the top ten. Growth figures highlight per capita income gains by state, indicating regional economic performance and shifts in wealth. The report references contact details for the writer.
Fed rate cuts offer limited relief amid credit crunch
The Fed trimmed rates by three quarters, lifting the Dow to 12,361.32 as banks hesitate to ease mortgages. Mortgage rates remained around 6.39 percent for 30 years, with Bankrate noting the crunch hurts long terms more than policy. Brokers like Alex Aloe report cautious buyers. one sale hit $490,000.
MENTIONED IN THIS ARTICLE
Federal Reserve
Wall Street
Dow Jones
Bear Stearns Cos
Bankrate.com
Fed
Greg McBride
Alex Aloe
Remerica Liberty Realtors
Livonia
Mich
Aloe
Commerce Township
Also Mentioned on This Page
USDA
Arri Jes
Kleiman Construction Company Inc
David.dewitte
Gazettecommunications.com
D.dewrite
Gazetations
Louisiana
New York Rrr
Connecticut Eee
North Dakota
Nea
Wyoming
Utah Hore
Massachusetts
Nene
Saa
Hawaii
U.S. Bureau of Economic Analysis
Susan Tompor
Detroit Free Press
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