Markets Rise on Confidence. PepsiCo Quaker Merger Moves Forward
Stocks gained as consumer confidence beat expectations with the Dow rising 260.01 to 9 947.54 and the Nasdaq up 53.77 to 1 972.26. PepsiCo and Quaker Oats advance toward merger after European Commission clearance, with meetings set for May 1 and a $13.83 billion valuation noted. Quaker operates the Cedar Rapids cereal mill.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Iowa
Wells Fargo
Weyerhaeuser
Procter & Gamble
U.S. Bancorp
Fiserv
Rockwell
PepsiCo Inc
Quaker Oats Co
European Commission
N.Y
PepsiCo
Quaker
Cedar Rapids
Maytag faces earnings challenge amid pricing pressure and weak sales
Maytag Corp warned it may be difficult to meet Wall Street estimates for the first quarter as pricing pressures and weak demand bite. Analysts expect 45 cents a share, while Maytag may exceed 40 cents from Q4 2000 excluding a one time tax gain.
MENTIONED IN THIS ARTICLE
Maytag Corp
Wall Street
First Call
Thomson Financial
Maytag
Internal Revenue Service
Disney to cut four thousand jobs amid softening economy
The Walt Disney Co plans to reduce about 4,000 full-time positions, roughly 3 percent of its workforce, through a voluntary program over the next month, with layoffs possible if targets are not met. Cuts span all divisions including corporate staff in Burbank and are to be completed by July. The firm employs about 120,000 globally, with 55,000 in Orlando.
MENTIONED IN THIS ARTICLE
Walt Disney Co
Burbank
Calif
Orlando
Fla
Coral Ridge Mall Adds Restaurants and Expands Target
Coral Ridge Mall in Coralville will add Olive Garden Red Lobster and Subway openings this spring and summer. Modern Nails will open near Dillard’s with construction starting soon. Target will expand its store by 10 700 square feet with construction beginning next week and finishing by July 1.
MENTIONED IN THIS ARTICLE
Gazette
Coralville
Coral Ridge Mall
Target
Olive Garden
Red Lobster
Subway
Modern Nails
Dillard’s
Darden Restaurants Inc
Collins Road
Cedar Rapids
Whitey’s Ice Cream
A&w
Verizon Wireless
General Growth Properties Inc
Shell Rock mold works sale aided by state loan approval
Hobson Mold Works in Shell Rock is set to be sold to Lakeland Mold Co of Brainerd Minnesota for 3.3 million. The Iowa Department of Economic Development approved a 150000 investment split between a 75000 loan and a 75000 forgivable loan to back the acquisition and restart operations in the 100000 square foot plant. The deal preserves 52 jobs at an average wage of 16.62 per hour and aims to begin production by May after final financial terms. The loan was sought by the city of Shell Rock and was deemed essential to prevent liquidation as lenders pushed for a timely decision.
MENTIONED IN THIS ARTICLE
Hobson Mold Works
Hobson
Consumer confidence rebounds as March index rises
The Conference Board shows the Consumer Confidence Index up to 117 in March from 109.2 in February, the first gain since September. Analysts expected 104.1, with optimism about jobs and business conditions countering signals of economic weakness.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Conference Board
Mediator Sought in Blooming Prairie Co op Talks
The Teamsters Local 238, which represents workers at the Blooming Prairie Cooperative warehouse in Iowa City, has asked for a mediator to move negotiations toward a new contract. Talks since December have stalled over issues including seniority, with the cooperative agreeing to mediation and continuing good faith bargaining.
MENTIONED IN THIS ARTICLE
Sayre
Blooming Prairie
Sue Futrell
Futrell
Cinema 6 planned for Sycamore Mall in Iowa City
Central States Theatre Corp of Des Moines plans a six screen cinema named Cinema 6 in the Sycamore Mall former Sears space, 19 500 square feet with stadium seating and digital surround. It opens in November and boosts local screens to 19. Ambrose mall owner notes plans for a live venue in the existing Cinemas I II space.
MENTIONED IN THIS ARTICLE
Marlene Lucas
Iowa City
Sycamore Mall
Central States Theatre Corp
Des Moines
Sears
Arthur Stein Jr
Central States Theatre
Coralville
Gerry Ambrose
von Maur
Walgreens
Ben Franklin
Ambrose
Cinemas I & II
Also Mentioned on This Page
Pepsi
Djia
Air France
Rockwell Collins
Collins
Collins Aviation Services
Air France Industries
Vermont
National Veterinary Services Laboratory
U.S. Department of Agriculture Lab
Ed Curlett
USDA
Disney
Bizf
Pe. Ae
Chain
25Th Avenue
Second Street
Chili’s Bar and Grill
Pier 1
Mall’s Food Court
American Greetings
Julie Hynes
Jennifer Marshall
Cleveland
Tower City Center
Shell Rock Company
George C. Ford
John Newhouse
Lakeland
Newhouse
Fred Hagemann
Waverly
IDED
Shell Rock
Hagemann
Pat Huber
Sung Won Sohn
Wells Fargo & Co
Sohn
Bear Market
Bear Territory
U.S
Mamjjasondjfmaran
The
S.C
Cd Pru
Primus
Hiawatha
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