Stocks Slip as Tech Fall Spreads Consolidate Market Losses
The market declined for the second straight day amid Fed rate worries and profit taking. The Nasdaq fell 84.65 to 3,584.73 and the Dow dropped 66.88 to 10,536.75 as losers outpaced gainers on the NYSE with 1,615 down and 1,301 up. Quaker Oats led gains as Wal-Mart posted stronger quarterly earnings and higher full year expectations.
MENTIONED IN THIS ARTICLE
Fed
New York Stock Exchange
NYSE
Iowa
Quaker
Montana OKs US West Qwest merger approval
Montana utility regulators approved the US West and Qwest merger on Monday. They attached conditions including at least a $50 million corporate investment in Montana during 2001 and 2002 while the companies seek signoffs from five more states and aim for completion by midyear.
MENTIONED IN THIS ARTICLE
Montana
US West
Qwest
Montana Public Service Commission
Five-Year Treasury Note Auction Yields Hit Five Year High
Tuesday auction yields on five year Treasury notes rose to 6.789 percent, up from 6.741 percent, the highest since 1995. The coupon is 6.4 percent, with $10 000 face value selling at 9 983.70. Total $12 billion sold from $23.7 billion bids.
MENTIONED IN THIS ARTICLE
Treasury
OshKosh B Gosh May Go Private In Buyout Talk
The controlling OshKosh B Gosh family would consider taking the company private via a leveraged buyout. Chairman Douglas Hyde, from the family owning a third of equity, said the idea appeals when shares are low. Shares traded around $16, down $4 from the 1980s peak.
MENTIONED IN THIS ARTICLE
OshKosh B’gosh Inc
Douglas Hyde
Hyde
OshKosh B’gosh
OshKosh
Sega teams with Singapore firm for Web phone on Dreamcast
Sega Enterprises teams with InnoMedia to let Dreamcast users place Internet calls while gaming. The service rolls out in Japan in August then the United States, with Sega holding 20 percent of the venture and its Japanese unit 30 percent while InnoMedia owns 50 percent.
MENTIONED IN THIS ARTICLE
Sega Enterprises
Singapore
Japan
United States
Sega
InnoMedia
Iowa seeks CRP haying release amid drought concerns
Iowa Secretary of Agriculture Pat Judge asked U S Secretary Dan Glickman to release CRP lands for haying due to a warm dry spell and declining soil moisture. She cited eight months of below normal rainfall, stressed pastures, and potential drought risks, urging quick action and cost control on haying.
MENTIONED IN THIS ARTICLE
Jazette
Iowa
Patty Judge
Judge
U.S
Glickman
British group to buy back Rover from BMW saves jobs
A British consortium led by ex Rover chief executive John Towers won a last minute bid to take over Rover from BMW. Phoenix agreed to pay 10 pounds with BMW offering a 500 million pound loan to help restart production at Rover’s main factory and avoid closure.
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Rover
Germany
BMW
Britain
London
Phoenix
John Towers
Tony Blair
Mark Norman
CAP Motor Research Ltd
Leeds
Hubert Bergmann
WPP to buy Young & Rubicam in $4.7 billion deal
WPP Group PLC reached an agreement in principle to acquire Young & Rubicam Inc in a $4.7 billion stock deal that would create the world's largest ad and marketing firm. The plan awaits board and shareholder approvals and could still collapse. CMF & Z Inc. remains partly owned by Young & Rubicam with Cedar Rapids and Des Moines offices and major clients like Amana Refrigeration Alliant Energy and Wellmark Blue Cross Blue Shield of Iowa.
MENTIONED IN THIS ARTICLE
New York
Britain
WPP Group PLC
Young & Rubicam Inc
WPP
Young & Rubicam
CMF & Z Inc
Iown
Cedar Rapids
CMF & Z
Des Moines
Amana Refrigeration
Alliant Energy
Wellmark Blue Cross
Blue Shield
Iowa
Greg Gritton
Congress weighs stronger protection for Social Security numbers
At a House subcommittee hearing James Huse of the SSA warns SSNs have become a de facto national ID and aid criminals. Lawmakers consider banning SSN sales requiring consent before sharing numbers strengthening penalties and offering alternative identifiers.
MENTIONED IN THIS ARTICLE
Washington
Congress
James Huse
Social Security Administration
House
Bricklayer Pickets Halt Two St Luke's Projects
Bricklayers Local 3 picketed the St Luke's Hospital sites in Cedar Rapids for a non union Hawk Construction presence halting work on the 85 000 square foot Center for Women and Children’s Health and the Heart Center. Union crews are performing most work as hospital officials say Hawk accounts for six of 80 workers. The gate was altered to allow union entry while Haw k’s status remains disputed with the contractor Ellerbee Beckett Construction Inc. of Minneapolis. Work is slated to finish spring 2001 for the Women and Children’s project and November for the Heart Center.
MENTIONED IN THIS ARTICLE
Hawk Construction Ltd
Dubuque
Gary D. Crees
Bricklayers Local 3
Des Moines
Crees
St. Luke's
Ellerbee-Beckett Construction Inc
Minneapolis
Hawk Construction
First Avenue N.E
Laura Rainey
Hawk
Rainey
Union
Cedar Rapids
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Wal-Mart
Wal-Mart Stores Inc
CRP
Dennis Molitor
Iowa State University Extension
Carroll County
Molitor
British Group
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Gemini
Leo Virgo
Libra
Scorpio
Sagittarius
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Iowa City
St. Luke’s
Amex
Biotech
Finance
Telecom
Transport
At&t Corp
GemiElec
At&t Wrisn
Compan
IvaxCo
SunMics
DOW Jones
Lew Cae
Iesenes
Indus
Standard & Poor's
Isi Transpt
Wilshire Associates Equity Aeve
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