Wall Street Clamps Near 10000 As Rates Spike
Interest rate fears trigger a broad selloff on Wall Street with the Dow Jones closing below 10,000 for the first time since December 10. The Dow fell 127.32 points to 9,990.02, the Nasdaq slid 21.89 to 1,896.07, and decliners outnumbered advancers about 8 to 1. Monsanto halts GE wheat plans, Citi settles WorldCom lawsuit for 2.65 billion, amid ongoing claims over IPOs.
MENTIONED IN THIS ARTICLE
Wall Street
Dow
New York Stock Exchange
Treasury Bill Rates Rise in Short-Term Auctions
The Treasury sold 18 billion dollars of three month bills at a discount rate of 1.060 percent and 15 billion dollars of six month bills at 1.340 percent. The discount rates understate investor returns with actual yields of 1.078 percent for the three month bills and 1.368 percent for the six month bills based on current sale prices.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Gazette
Cedar Rapids real estate sees growth in retail and industrial markets
NAI Iowa Realty Commercial projects a stronger Cedar Rapids metro market in 2004 with retail and industrial expansion outpacing office softness. Major developments include Westdale Mall ownership changes and possible Wal-Mart and Hy-Vee projects along Highway 100, Edgewood Road, and Blairs Ferry Road.
MENTIONED IN THIS ARTICLE
the Gazette
Cedar Rapids
NAI
Iowa Realty Commercial
Iowa Realty
eNew
West
Dale
Wal-Mart
Marion
Highway 13
Aegon USA
Highway 100
Edgewood Road
Blairs Ferry Road
Menards
Ford closes oldest Dearborn plant birthplace of Mustang
Ford Motor Co. shuts its 86 year old Dearborn plant where the first Mustang rolled off in 1964 and a crimson convertible ended the final line. The move shifts Mustang production to Flat Rock as Ford pursues lean manufacturing and multi billion dollar cost cuts over the next decade.
MENTIONED IN THIS ARTICLE
Roy Barnes
Dearborn
Mich
Ford Motor Co
Henry Ford
U.S
Ford
Flat Rock
Detroit
Wilson Pickett
Rosa Smith
General Motors
Oldsmobile
Lansing
BBB raps egg ads over humane labeling
The Better Business Bureau National Advertising Review Board says United Egg Producers must drop or alter labeling that eggs are “animal care certified” due to practices like beak clipping meltdowns and withholding food and water. It cites forced feeding, partial beak clipping, and dense cages as un humane. The ruling follows a complaint by Compassion Over Killing and will influence FTC and FDA actions.
MENTIONED IN THIS ARTICLE
Des Moines
Better Business Bureau
Bureau
National Advertising Review Board
United Egg Producers
Compassion Over Killing
Washington, D.C
Iowa crops off to good start with 94 percent corn planted
Iowa farmers are 15 days ahead of the five year average in corn planting with 94 percent complete and soybeans 51 percent done. Emergence is at 36 percent for corn and 4 percent for soybeans as field conditions vary by rainfall.
MENTIONED IN THIS ARTICLE
Northeast
Hiawatha
the Gazette
Iowa
Iowa Agricultural
Jim Fawcett
Iowa State University Extension
Iowa City
Chicago
Board of Trade
East Central
Linn
Johnson Counties
Fawcett
MCI to Cut 7500 Jobs Amid Revenue Struggles
MCI plans to eliminate about 7,500 positions this year, roughly 15 percent of its workforce, to cut costs after reporting a first quarter loss of 388 million dollars. The Cedar Rapids and Iowa City operations are among those affected as the company restructures post bankruptcy. Michael Capellas said further cuts will align costs with industry conditions.
MENTIONED IN THIS ARTICLE
Citigroup
WorldCom
WorldCom Securities
Cedar Properties
Iowa City Group
Great America
Cedar Rapids
Waterloo
Intermec Research and Development
MCI
Mclean, Va
Tion
Michael Capellas
Iowa City
Capellas
Also Mentioned on This Page
Nasdaq
Monsanto
ST. Louis
Monsanto Co
Agricultural and Biotech
Agriculture Department
Echyone
AP Stockquote
Local
C.R
By Dave DeWitte
PetSmart
Pier 1
Starbucks
Men’s Wearhouse
NAI/Iowa Realty Commercial
Scott Byers
NAI/Iowa Realty
U.S. Bank
South Cedar Properties
Iowa Glass
Wid
Auto Industry
Mustang
Industry Not ‘Animal Care
The
Federal Trade Commission
Food and Drug Administration
By Marlene Lucas
Lucas
Atians Corr
Soybeans Mae
Gazette Graphic
Columbus McKinnon
PepsiCo
Procter Gamble
Come
Fedi Qwest Commun
Deere Co
RF Micro Devices
Dillards Inc
Raicorp Holding
Fastenal Co
Featherlite Inc
Rockwell Collins Fiserv
Saks Inc
Genencor Inti Inc
Sealed Air
Gen Mills
Skyworks Solution
Tanger Factory
Gillette Co
Terex Co
HMI Corp
Toyota Met
Heartland Exp
Heinz
Union Planters
ING Glob RE Inc
Old Fire Cas
W7ind Paper
US Bancorp
Keane Inc
US Cellular
Kohis Corp
Unova Inc
Verizon Comm
WalMart
Marsh & McLennan
Wells Fargo & Co Weyerhauser
Sylvia Brim
CPA
CFP
CSA
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