EU approves Rockwell Collins purchase with divestitures
The European Union approved United Technologies bid for Rockwell Collins contingent on divesting key units including Rockwell’s trimmable stabilizer actuator and pilot control businesses, Rockwell’s ice protection unit, and two UTC oxygen system projects. The deal values around $30 billion and affects Cedar Rapids’ largest employer with erosion of overlap in multiple markets. UTC and Rockwell did not comment.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Rockwell Collins
European Union
Rockne
European Commission
United Technologies Corp
Rockwell
Commission
UTC
United States
Mexico
Iowa
Hedge fund pushes United Technologies split into three firms
Daniel Loeb's Third Point urged United Technologies to break up into three businesses Climate Controls and Security Otis and an aerospace unit including UTAS Pratt and Whitney and Rockwell Collins. The NY hedge fund with a $1 billion stake says a breakup could unlock about $20 billion in value and plans to pressure the board and management to act.
MENTIONED IN THIS ARTICLE
New York
Daniel Loeb
Third Point
United Technologies Corp
Connecticut
Loeb
Climate, Controls & Security
Otis Elevators
UTAS
Pratt & Whitney
Rockwell Collins
United Technologies
BBB Cedar Rapids chief Barbara Green to retire May 25
Barbara Green, director of BBB Serving Greater Iowa, Cedar Rapids, will retire May 25 after guiding the local office since its 2008 post flood opening. She helped raise awareness of scams and answered calls from seven counties along the I-380 corridor while warning about IRS impersonation schemes.
MENTIONED IN THIS ARTICLE
Better Business Bureau
Cedar Rapids
Barbara Green
Consumer-Protection Organization
BBB
Greater Iowa
Quad Cities
Siouxland
Green
Des Moines
The
Gazette
Kcrg-Tv9
First Ave
Downtown Bever Building slated for demolition in Cedar Rapids
Crews in Cedar Rapids remove a billboard from the Bever Building as Skogman Cos. plans to demolish the Bever Building and two adjacent structures later this month. The project shows ongoing efforts to clear the 400 block of First Avenue SE for redevelopment.
MENTIONED IN THIS ARTICLE
Cedar Rapids
First Avenue SE
Bever
Skogman Cos
Historian Plans $11 Million Bever Block Headquarters
Historian Mark Stoffer Hunter writes on Cedar Rapids Bever Block history and outlines construction of a new $11 million 40,000 square foot headquarters on the site. Skogman Realty currently operates at 411 First Ave SE beside the Bever Building. the Bever Building will remain standing.
MENTIONED IN THIS ARTICLE
Mark Stoffer Hunter
Cedar Rapids
Skogman
First Ave
Bever
US jobs rise modestly as unemployment falls to 3.9
The Labor Department reports April nonfarm payrolls up 164,000 with the jobless rate at 3.9 percent, near a six month low. Wages barely rose and labor force participation slipped to 62.8 percent as weather and moderating hiring temper growth. President Trump lauds results while critics point to limited wage gains and tax cut impact.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
Federal Reserve
San Francisco
Wall Street
U.S. Treasury
Trump
Donald Trump
Apple
Martin Heinrich
D-N.m
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Matthew Patane
the Gazette
Margrethe Vestager
Thegazette
Consumer Protection
Internal Revenue Service
Matthew
Patane
Cliff Yette
U.S
Fed
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