Wall Street edges higher on mixed IBM cost-cut plan
U S stocks ended mixed with the Dow up 45.53 at 10 289 21 the Nasdaq advancing to 1730 44 as traders weigh IBM cost cuts against a prior rally. Wal Mart rose while Nash Finch fell amid light overall volume and persistent caution. WorldCom disclosed a 1.5 million a year severance for Bernie Ebbers plus 750 000 for his wife. Freddie Mac reported mortgage rates rising with 30 year fixed at 6.89 percent and 15 year at 6.37 percent.
MENTIONED IN THIS ARTICLE
Wall Street
IBM
New York Stock Exchange
Wal- Mart
General Electric Advanced
Nash Finch
WorldCom Inc
Bernie Ebbers
WorldCom
US Securities and Exchange Commission
Ebbers
Freddie Mac
Record bankruptcy filings as consumers drive debt surge
Washington AP reports that consumer personal bankruptcies rose 15.2 percent to 1,464,961 in the year ending March 31, with business filings up 10.7 percent to 39,845 including Enron. Individuals make up about 97 percent of filings as shoppers chase sales and cheap financing, aiding a shallow recession yet swelling household debt. Samuel Gerdano of the American Bankruptcy Institute notes consumer confidence remains and refinancing and auto deals fuel spending.
MENTIONED IN THIS ARTICLE
Washington
U.S
Enron’s
Samuel Gerdano
American Bankruptcy Institute
Gerdano
Bankruptcies surge in Eastern Iowa area long term rise
The U S Bankruptcy Court for the Northern District of Iowa in Cedar Rapids reports 4782 filings in the year ending March 31 up from 3657 a year earlier. Chapter 13 cases rose 10 2 percent to 433107 as Chapter 7 filings jumped 17 2 percent to 1059777. The piece notes differing district data and policy moves shaping debt relief and mentions pending federal legislation on wiping out debt amid abortion related dispute.
MENTIONED IN THIS ARTICLE
Re Gazette
Iowa
U.S. Bankruptcy Court
Cedar Rapids
Southern District of
Vietnamese restaurant Phong Lan opens in Cedar Rapids
Phong Lan, Cedar Rapids new Vietnamese eatery at 216 Eighth St. SE, showcases dish pictures on menus. Dishes like slice beef noodles, Vietnamese spring rolls, iced coffee, and Vietnamese crepes cost about 5.75 to 6.75 dollars. Owners Phong Nguyen and Tay Tran renovated a brick building near Hawkeye Seed Co. Seating for 92, hours 10 a.m. to 9 p.m. weekdays, 10 a.m. to 11 p.m. Fridays and Saturdays, 10 a.m. to 3 p.m. Sundays.
MENTIONED IN THIS ARTICLE
Gazette Edar Rapids
Phong Lan
Cedar Rapids
Iowa
Phong Nguyen
Tay Tran
Eighth St. SE
Clinton
Vietnam
Tran
Sea Dragon
Fort Dodge
Hawkeye Seed Co
Phong
Brian Ray Lan Tran
Tuciem Nguyen
Jobless rate falls in Linn and Johnson counties
Unemployment eased in Linn and Johnson counties in April according to Iowa Workforce Development. Linn County's rate dropped to 3.8 percent from 4.2, with 110,900 employed and 4,400 unemployed. Johnson County posted 2.5 percent, down from 2.7, with 71,200 employed and 1,800 unemployed. Statewide rate rose to 3.6 percent.
MENTIONED IN THIS ARTICLE
George C. Ford
Gazette
Linn
Johnson
Iowa
Linn County
Johnson County
Richard Running
Unemployment Rates and County Jobless Figures
Total employment fell to 1,546,200 from 1,547,900 in March while April 2001 saw 1,530,200 residents employed. Lee County had the highest jobless rate at 7.4 percent and Fremont County posted the lowest at 2 percent.
MENTIONED IN THIS ARTICLE
Lee County
Fremont County
Cedar Rapids firm to buy assets for 200000 CEBA boost
The Iowa Economic Development Board approved a 200000 CEBA investment to form Universal Engineering Corp in Cedar Rapids. The plan uses a 100000 loan and a 100000 forgivable loan to buy assets from Metso Corp and reopen a plant slated to close May 31. 55 jobs planned with 19.84 per hour. The city matches 200000 TIF funds, and Kirkwood Community College will provide over 300000 in training aid. Open June 3 with about 34 employees at start.
MENTIONED IN THIS ARTICLE
Ne Gazette
Des Moines
Iowa Department of Economic Development Board
Cedar Rapids
Universal Engineering Corp
Metso Minerals Universal Division
Community Economic Betterment
Metso Corp
Universal Engineering
CEBA
TIF
Kirkwood Community College
Iowa Industrial New
P G weighs new distribution hub in Iowa City
Procter & Gamble contemplates a 500000 square foot distribution center in Iowa City with potential growth beyond 1 million square feet. The site would be leased to P G by a third party as executives study options inside and outside Iowa and aim to decide by mid to late June.
MENTIONED IN THIS ARTICLE
the Gazette
Iowa City
Procter & Gamble
Iowa
Mike Burnette
P&g
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Nasdaq
Rogers
Economic Development Board
S Marcia Rogers
Pelican Ryc New Zealand Ltd
Robert Pulliver
All-State Industries
West Des Moines
Tom Vilsack
Gene Larson
Swisher
Lois Eibhacker
Fort Madison
Iowa House
AP Stockquote
E. Iowa
Commerce Department
Riod
U.S. House
Senate
Bush
Sen
Charles Schumer
D-N.y
C.R
By Dave DeWitte
Ca Mau
United States
Nguyen
Alliant Energy
Linn, Johnson
Turce
Workforce Development
State OK
C.R. Company
George Ford
George
Burnette
Scott Six
Highway
Midwest
West Branch
North Liberty
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