Markets slide as consumer data disappoints hopes for rebound
Weaker than expected consumer confidence and spending data trigger stock declines led by the Dow off 122.68 to 9,981.58 and the Nasdaq down 9.32 to 1,652.17. Local movers Procter & Gamble Kohl’s and Toyota fall while overall advancers trail 3 to 2. Authorities also report Sears Lands End deal awaiting conditions and BMW recalls 7 series. Treasury auctions show three month bills at 1.730 percent and six month bills at 1.890 percent with implied yields around 1.760 and 1.935 percent.
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Wall Street
Dow
New York Stock Exchange
Procter & Gamble
Kohl’s
Toyota
Treasury
Treasury Department
Iowa Utilities Board Sets Precedent for MidAmerican Plant
The Iowa Utilities Board cleared the way for a nearly 400 million dollar 540 megawatt natural gas plant near Pleasant Hill. The decision locks in advance rate-making principles and protects MidAmerican from questions on prudent management within a preset cost limit, signaling reduced regulatory risk.
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Iowa
MidAmerican faces 20 day deadline to decide on rehearing
The Iowa Utilities Board tells MidAmerican it has 20 days from its written order to choose whether to accept the decision or seek a rehearing. If not building the plant, the company must find another method to meet Iowa customers' electricity needs. eAssures no penalty if demand falls, after 1983 Louisa Generating Station. The board set 13.25 percent return on equity as unwarranted and allowed cost recovery over 27.6 years. Alliant Energy- Interstate Power and Light plans a natural gas plant in Cerro Gordo County may face a similar proceeding. Contact George Ford.
MENTIONED IN THIS ARTICLE
MidAmerican
Iowa Utilities Board
Iowa
Louisa
IUB
Alliant Energy
Interstate Power and Light Co
Cerro Gordo County
Cedar Rapids
Warm weather hoped to boost late corn and soy growth
Iowa farmers report 98 percent of corn planted and 84 percent of soybeans planted with emergence at 78 and 24 percent respectively. A week of warm weather could trigger rapid growth as weed control and replanting concerns persist amid cool conditions and variable moisture.
MENTIONED IN THIS ARTICLE
The
Gazette
Coralville
Iowa
Iowa Crops & Weather Report
Smith
Duane Crock
Palo
Qwest executives' pay limits pushed by retirees group
The Association of US West Retirees asks Qwest share owners to back two proposals limiting executive compensation. Proposals seek shareholder approval for severance packages and to exclude pension fund gains from bonus calculations. Both failed last year, with 17 and 27 percent support respectively.
MENTIONED IN THIS ARTICLE
Denver
Qwest Communications International Inc
Association of US West
Philip Anschutz
Qwest
Nelson Phelps
US West
Dynegy CEO resigns amid Enron scandal turmoil
Dynegy Inc. chief executive Chuck Watson resigns as the energy trader faces an SEC investigation into its trading practices. The stock has fallen about 90 percent in the past year, and Watson cites stakeholder value while backing new leadership.
MENTIONED IN THIS ARTICLE
Dynegy
FSA previews new farm program and base updates
Iowa City summary: Farmers may update bases and yields using 1998 to 2001 crop history. Participation is optional while rules are written. First 2003 direct payments begin in December. 2002 counter cyclical payments split in October and February.
MENTIONED IN THIS ARTICLE
the Gazette
Iowa City
Steve Carson
Johnson County Farm Service Agency
Carson
FSA
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Nasdaq
Duane Arnold Energy Center
Rob Anderson
Anderson
Sears
Sears, Roebuck & Co
Lands’ End , Inc
Lands’ End
Dodgeville
Wis
BMW
BMW AG
SciTyme
AP Stockquote
George C. Ford
Gazette Des Moines
MidAmerican Energy Co
Utilities Board
Pleasant Hill
Diane Munns
George Ford
Georgef
By Marlene Lucas
Jim Smith
Consumers Cooperative of
Commercial
Marlene Lucas
Marienel
Fyiowa
Lowa
Qwest Exec
Dublin
Ohio
United Airlines
Phelps
Bb&t Capital Markets
Rex Mitchell
Jerry K. Ask
Investment Services of
Investment Representativ
Princer Financial Services Corp
SIPC
Jerry K. Ask Investment Services
Princor
Www
Usda
Third Avenue
Des Moines
Stree
Clive
Me Vmf Capital, LLC
Don Flynn
Mike van Meter
Tom Myers
Karen Green
Scott Eltjes
Chris Cook
Lon Augustine
Don Mears
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