Hedge fund rumors spark broad market sell off
Stocks fell as crude oil rose above 52 dollars a barrel and Delta Air Lines warned of possible bankruptcy. Analysts blame hedge fund losses on bets tied to troubled General Motors and say the downturn mirrors investor unease across the market. The Dow dropped 103.23 points to 10,281.11 while the Nasdaq slipped to 1,962.77.
MENTIONED IN THIS ARTICLE
Delta Air Lines Inc
Wall Street
General Motors Corp
Delta
Brian Williamson
Boston Company Asset Management
New York Stock Exchange
Fisher-Price Recalls Pogo Sticks and Push Toys
Fisher-Price recalls about 150000 Grow-to-Pro Pogo Sticks and 50000 Lil' Wagster Dragster push toys due to injury risk. The CPSC reports 17 pogo injuries including a knocked out tooth and nine injuries from the push toys with loose teeth and mouth bruises. Stop use and call 1 800 991 2444 for recall details.
MENTIONED IN THIS ARTICLE
Fisher-Price Inc
East Aurora
N.Y
Consumer Product Safety Commission
Fisher-Price
Judge approves termination of United pension plans
A federal bankruptcy judge approved United Airlines plan to terminate four defined benefit pension plans, shifting responsibility to the Pension Benefit Guaranty Corporation. The move saves United about 645 million dollars annually but cuts employees pensions once assumed by the PBGC as the carrier seeks 2 billion a year in savings to emerge from Chapter 11. Carter's Inc. to acquire OshKosh B'Gosh Inc. in a 312 million dollar deal, uniting brands with over 1.3 billion in annual sales. payment includes 26 dollars per OshKosh share and option redemption.
MENTIONED IN THIS ARTICLE
United Airlines
United
Pension Benefit Guaranty Corp
Carter’s Inc
OshKosh B’gosh Inc
Carter’s
OshKosh
Grassley says CAFTA faces tough fight for approval
Sen. Chuck Grassley warned CAFTA faces strong opposition even as it gains support. He met with Agriculture Secretary Mike Johanns and food industry reps to discuss lifting tariffs on U S goods to Costa Rica Dominican Republic El Salvador Guatemala Honduras and Nicaragua amid sugar sector resistance.
MENTIONED IN THIS ARTICLE
Chuck Grassley
Grassley
Agriculture
Mike Johanns
Food, Beverage
U.S
Costa Rica
Dominican Republic
el Salvador
Guatemala
Honduras
Nicaragua
Johanns
Iowa exports to CAFTA rise as Grassley backs pact
Iowa export shipments to the CAFTA region reached 31 million dollars in 2004, up from 28 million in 2000. Senator Grassley argues CAFTA lowers tariffs and boosts agriculture while most farm groups back the agreement amid concerns about manufacturing job losses.
MENTIONED IN THIS ARTICLE
Iowa
CAFTA
Central American Leaders Rally For CAFTA Jobs Promise
Central American leaders urge support for CAFTA in the U S Congress arguing the pact will create jobs. Unions and farmers counter that the agreement could weaken competitiveness and harm local livelihoods.
MENTIONED IN THIS ARTICLE
U.S
Labor Union Presses Hy-Vee For Local Contractors In Cedar Rapids
About 40 members of Laborers Local 43 rallied at the North River Village Hy-Vee site on Edgewood Road near Highway 100 urging Hy-Vee to hire more Cedar Rapids area subcontractors. Hy-Vee says 25 to 30 subs are used with roughly 75 percent from Cedar Rapids Marion area and notes one Decorah foundations firm. The union cites limited local subs and predicts further store projects that may expand the push for local contractors.
MENTIONED IN THIS ARTICLE
the Gazette
Hy-Vee Stores Inc
Cedar Rapids
Local 43
North River Village
Edgewood Road
Vern Silver
Hy-Vee
Union
Ruth Comer
Marion
Decorah
Jim Slosiarek
Frank Stastny
Charlie Bowman
Central City
Blairs Ferry Road
Laborers Local 43
GM recalls 300,000 trucks and SUVs over turn signal fault
General Motors is recalling over 300,000 2003 04 models including the Chevrolet TrailBlazer GMC Envoy Isuzu Ascender Oldsmobile Bravada and 2004 Buick Rainier for a dash signal defect causing front and rear lights to flash as hazards. No injuries reported. Permanent parts come in August with temporary fixes available in the meantime.
MENTIONED IN THIS ARTICLE
Washington
General Motors
Alan Adler
Gillette, Galvin in new subpoena dispute in Boston
Gillette Co and Massachusetts Secretary of State William Galvin ask a Suffolk County judge to resolve a narrowed subpoena dispute tied to Gillette's pending $57 billion acquisition by Procter & Gamble. Galvin seeks more documents while Gillette contends it has complied. Federal regulators also review the deal requiring both shareholder approvals.
MENTIONED IN THIS ARTICLE
Boston
Gillette Co
Massachusetts
William Galvin
Galvin
Gillette
Suffolk
Securities and Exchange Commission
Eric Kraus
P&g
Cedarapids workers approve four year contract pact
Cedarapids Inc employees, 192 workers, ratified a four year contract with Terex that freezes the traditional pension while keeping a 401(k) plan. The deal, approved by Machinists Local 831, includes 2.5 percent annual raises and no increase in health insurance costs.
MENTIONED IN THIS ARTICLE
Ne Gazette
Cedarapids Inc
Terex Corp
Machinists
Terex
Tom Gelsten
Gelsten
Cedarapids
Congress
Joe Ironside
Ironside
Waverly
Also Mentioned on This Page
Nasdaq
Plurk
United Pension Plans
OshKosh B’gosh Brand
Iowa City
Central America
Central American
News
E. Michael Myers
Marlene.lucas
Gazettecomr
United States
Gulf of
Mexico
EL Salv
Pacific Ocean
U.S. Census Bureau
Foreign Trade
World Bank
ESRI
Ation
Is.com
LABOR
By Dave DeWitte
Comer
Silver
Edgewood
David.dewitte
Gazettecommunications.com
Gedarapids
Monticello
Dubuque
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