Markets Slide As Terror Fear Spreads Investor Selloff Deepens
Investors sought safety on Tuesday pushing major indices lower with the Nasdaq down 2.2 percent to 1,664.18 and the Dow off 1.2 percent at 10,105.71. Trading volume remained light while declines outpaced advances on the NYSE. Bandag and Michelin call off antitrust lawsuits in Des Moines, Michelin retorted claims of undercutting Bandag. Gap Inc chief executive Millard Drexler plans retirement after successor named. Nucor to buy Birmingham Steel for 615 million cash, Birmingham Steel files for Chapter 11 protection. WorldCom discontinues its tracking stock in a move expected to save about 284 million in dividends.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Nucor Corp
Birmingham Steel Corp
Alabama Steel
Nucor
Birmingham Steel
U.S. Securities and Exchange Commission
Birmingham. Steel
WorldCom Inc
WorldCom Group
MCI Group
Merrill Lynch to pay 100 million dollar fine
Merrill Lynch will pay a 100 million dollar fine and overhaul pay to about 300 stock analysts to remove investment banking incentives. The settlement with New York Attorney General Eliot Spitzer aims to separate analyst compensation from IB business and boost independence. New York will receive 48 million, with the rest shared among 49 states, DC, and Puerto Rico.
MENTIONED IN THIS ARTICLE
Merrill Lynch
New York
Merrill Lynch & Co
Wall Street
Spitzer
New York State
District of Columbia
Puerto Rico
Cedar Rapids Sheraton Four Points to become Clarion Inn
After 26 years the Cedar Rapids Sheraton Four Points on 33rd Avenue SW switches to Clarion Inn, becoming the city's first. The 157 room, full service hotel will operate under the Zazza family's ownership with Choice Hotels International. Room updates and brand alignment are underway while rates are not expected to change.
MENTIONED IN THIS ARTICLE
Ine Gazette
Cedar Rapids
Sheraton Hotel
Sheraton Four Points
33Rd Avenue
Clarion
Clarion Inn
Zazza
Choice Hotels International
Choice Hotels
Steve LaCorte
Safemark Systems
Orlando
Fla
LaCorte
Four Points
Adagio set for J C area Chamber gathering
Iowa City will host a Business PM at Adagio Restaurant Bar at 325 E. Washington St. on Thursday. The Northern Italian venue opened six months ago and is led by Kim McWane Friese and Kurt Michael Friese, known for Devotay. The event runs 4:30 to 6:30 p.m. with admission $4 for members and $6 for non members.
MENTIONED IN THIS ARTICLE
Iowa City
Adagio
Washington St
Friese
Niman Ranch
Stable gas prices forecast as summer driving begins
The Iowa DNR reports May 13 Gas Monitors survey shows Iowa unleaded regular with ethanol averaging $1.32 per gallon, 43 cents below last year, with Ames at $1.25 and Iowa City at $1.38. Nationwide average is $1.39, while crude prices rose to $28.18 on May 17.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Gazette
Iowa Department of Natural Resources
DNR
Iowa
David Downing
DNA Energy
Midwest
Ames
Iowa City
Cedar Rapids
Iowa Quality Beef to buy Tama plant for expansion and jobs
Iowa Quality Beef will pay 2.6 million to acquire the former Tama Beef Packing plant, with 8 to 10 million more planned for upgrades. The Tama City Council approved the sale after a lease default by Rick Stewart left about 200 workers out of work. the project aims to hire 350 to 400 once production expands. The deal includes 78 acres of wastewater lagoons and surrounding farmland not leased to Stewart, with the city and Iowa Quality Beef negotiating to preserve the local workforce and add offshoot processing options. The project also seeks 900 thousand in state development aid as it plans to reopen this fall under the Iowa Quality Beef network.
MENTIONED IN THIS ARTICLE
the Gazette
Iowa Cattlemen’s Association
Tama Beef Packing Inc
Tama City
Iowa Quality Beef Supply
Wisconsin
Rick Stewart
Towa Quality Beef
Iowa Quality Beef
Stewart
Wythe Willey
Iowa Quality Beef Project
Addi
Willey
National Cattlemen’s Beef Association
Iowa
U.S
Tom Malcom
Tama
Also Mentioned on This Page
DOW
Krux
McLeodusa
Conexant Systems
Michelin
Bandag
Bandag Corp
Michelin North America Inc
Michelin Retread Technologies Inc
U.S. District Court
Des Moines
Bandag of Muscatine
Gap Inc
Millard Drexler
Drexler
Gap
WorldCom
John Sidgmore
Eliot Spitzer
Securities and Exchange Commission
SEC
Harvey Pitt
Annette Nazareth
OC Gazette Graphic
C.R. Hotel
Sheraton Chain
Choice
Fran
Chises Or
Comfort Inn
Sleep Inn
Quality Inn
Sheraton
Alan Zazza
Starwood Hotels & Resorts
ITT Corp
Starwood
ITT
Barry Sternlicht
Sheratons
Cedar Rapids Sheraton
Jim Slosi
J.C
By Marlene Lucas Atte
Tama Beef
David DeWitte
Davidd
Jerry K. Ask
Investment Services of
Kelly D. Steele Investment Representative
Princer Financial Services Corp
SIPC
Jeny K. Ask Investment Services
Princor
Management
Third Avenue
114Th Street
Clive
Vmcapital.com
Me Vmf Capital, LLC
Don Flynn
Mike van Meter
Tom Myers
Karen Green
Scott Eltjes
Chris Cook
Jon Augustine
Don Mears
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