Microsoft Stock Slips After Antitrust Settlement Offer Rejected
Major indices retreat as Microsoft falls sharply after government reportedly rejects its proposed antitrust settlement. Dow down 86.87 to 11 025.85, Nasdaq -4.47 to 4,958.56, S&P 500 -3.60 to 1,523.86. Microsoft tumbled 7 percent to 104 1/16, driving about 40 points of the Dow decline.
MENTIONED IN THIS ARTICLE
Microsoft
Standard & Poor
Associated Press
NYSE
Iowa
Conexant
RF Micro
National Computer Systems
Procter & Gamble
Quaker Oats
NEW York Stock Exchange
Ameroniines
At&t Corp
Compan
BankOne
Ibms
American Stock Exchange
Amex
DOW Jones
Cho
Indus
Indust
POO Insurance
Transport
Transpt
Wilshire Associates
P&G Seeks Bids for Oxydol Brand Laundry Detergent
Procter & Gamble announced it is soliciting offers for Oxydol, a long running detergent brand since 1927. Chief executive Paul Polman said Oxydol is profitable but not a strategic fit. P&G may retain the brand if no acceptable bid arrives. The firm runs a plant in Iowa City.
MENTIONED IN THIS ARTICLE
Procter & Gamble Co
Paul Polman
P&g
Iowa City
Wild horse adoption set at National Cattle Congress grounds
Up to 100 wild horses from the Interior Department will be offered for adoption at the National Cattle Congress Exposition grounds in Waterloo on April 8. Horses arrive April 7 for viewing from 1 to 5 p.m. Adoptions start at 7 a.m. April 8 after approval by Friday. Minimum bid is $125 per horse through a competitive process.
MENTIONED IN THIS ARTICLE
U.S. Department of the Interior
National Cattle Congress
Waterloo
Bureau of Land Management
Bail Park hot dogs recalled over listeria risk
Sara Lee Corp recalls 34,500 pounds of Bail Park brand hot dogs after a military lab detects listeria monocytogenes. No illnesses reported. The products, packaged Jan 25 at a Philadelphia plant, distributed to Army commissaries and retailers bearing code APRO3 EST 12PAB.
MENTIONED IN THIS ARTICLE
Sara Lee Corp
Sara Lee
Theresa Herlevsen
Philadelphia
Treasury bills mixed as rates move on short maturities
The Treasury sold 8.5 billion in three month bills at 5.720 percent, down from 5.780. Six month bills yielded 5.905 percent, up from 5.895. Three month rate is the lowest since March 6 and six month the highest since March 20, 1995. The Fed said one year bill yields averaged 6.24 percent, up from 6.20.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Federal Reserve
Eastern Iowa employers forecast bigger second quarter hiring
A Cambridge Staffing Center survey of 104 firms in Dubuque Linn Johnson and Jones counties shows 63 percent plan to hire in April through June, adding 2 199 new jobs. The firms expect higher wages and better benefits to attract workers amid a tight labor market.
MENTIONED IN THIS ARTICLE
Mike Cambridge
Cambridge Staff Center
Iowa
Cam
Iowa City
Cedar Rapids
Applied Systems
Chesapeake
Geico Direct
MCI Mass Markets
McLeod USA
National Computer Systems
Nordstrom
PMX Industries
Cambridge
Credit union opens Hiawatha branch in Longfellow Square
Eastern Iowa’s oldest credit union, First Federal Community Credit Union, breaks ground for a $1.5 million 7000 square foot office off North Center Point Road in Longfellow Square Cedar Rapids development. The project includes four teller positions three drive up lanes a 24 hour ATM and vault. Construction to begin next week with completion targeted for September.
MENTIONED IN THIS ARTICLE
First Federal Community Credit Union
First Ave
North Center Point Road
Longfellow Square
Armstrong-Race Realty
Boyson Road
Culver’s
Kinderknecht Associates
Dave Brost Architects
Nelson’ Electric
A’hearn Plumbing and Heating
Ladco
Tim Byers
First Federal
Cedar Rapids
Federal
Hiawatha
Marion
National Credit Union Administration
Dave Brost
Financial Institution
Monsanto sells NutraSweet to Boston investment firm
Monsanto Co sells its NutraSweet busi ness and brand to J W Childs Equity Partners LI LP for 440 million in cash. The new NutraSweet Co will keep current employees and adds neotame, a sweeter sweetener awaiting FDA approval.
MENTIONED IN THIS ARTICLE
ST. Louis
Monsanto Co
J.W. Childs Equity Partners LI LP
Monsanto
Existing home sales rise in February helped by wealth effects
February existing home sales climbed 6.7 percent to a 4.75 million annual rate as buyers respond to jobs, incomes and stock gains. Mortgage rates rose to 8.33 percent, the Fed raised rates again, and inventories remained tight at 2.8 months supply.
MENTIONED IN THIS ARTICLE
Washington
National Association of Realtors
Federal Reserve
European auto mergers fill gap with Mitsubishi and Scania
DaimlerChrysler buys 34 percent of Mitsubishi Motors for 2 billion dollars to gain Asia access and fuel efficient models. Volkswagen pays 1.6 billion dollars for a controlling stake in Scania AB, broadening its scope to trucks and heavy vehicles. Both moves create fuller product lines and global reach to withstand slowdowns.
MENTIONED IN THIS ARTICLE
Frankfurt
Germany
DaimlerChrysler AG
Volkswagen AG
Europe
DaimlerChrysler
Japan
Mitsubishi Motors Corp
Asia
Volkswagen
Scania AB
Juergen Schrempp
Mitsubishi
Scania
Volvo
Also Mentioned on This Page
Djia
BizFacts
Kat
Brazil
Russia
U.S
ECA Windham
Pat Carr
Paul Trap
George C. Ford
Credit Union
Boston
Chevyl Inc
NutraSweet AG
Euro-Aspartame SA
Monisant Co
Euro Auto
Nyse Index
Call Eastern Iowa Enterprise Council
The
EIEC
Non-Profit Organization
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