FCC approves SBC AT&T and Verizon MCI mergers with conditions
The FCC approved SBC Communications takeover of AT&T and Verizon Communications purchase of MCI in a 40 vote decision. Conditions include 30 month price freezes on wholesale lines and two years of stand alone high speed Internet access, plus no obstruction of Internet traffic. Several states already approved. some concerns remain about competition.
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SBC Communications
At&t
Verizon Communications
MCI
SBC
Verizon
SBC Communications Inc
At&t Corp
Verizon Communications Inc
MCI Inc
FCC
Kevin Martin
McLeodUSA plans prepackaged reorganization to erase debt
Cedar Rapids based McLeodUSA Inc filed a prepackaged Chapter 11 plan in U S Bankruptcy Court. It would convert 677 million of 777 million in debt into equity for lenders with 100 million revolving loan becoming a term loan. The court allowed continued payments to employees and trade creditors and access to up to 20 million of a 50 million DIP facility. A Dec 15 hearing was set to approve the disclosure statement and plan.
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Courts Court UK
McLeodusa
Ine Vatel
Cedar Rapids
McLeodusa Inc
U.S
Northern District of Illinois
Off-Farm Work Helps Chad Maintain Small-Scale Farming
Chad Keating relies on CR Recycling Inc and a brake shoe remanufacturer for extra income to support his farming on 2000 to 3000 acres, aided by his father Bill Keating. He rents 55 more acres and faces competition from larger farmers and developers, while ISU experts note small-scale farming is costly but viable with off-farm jobs.
MENTIONED IN THIS ARTICLE
Chad
Bill Keating
CR Recycling Inc
October Auto Sales Could Hit Historic Lows
Detroit sources say October sales may fall sharply, marking a second payback month after the summer employee-discount spree. Dealers and analysts warn that demand is not rising, with GM and Ford expected to drop over 20 percent from a year earlier in October.
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Detroit
General Motors Corp
Ford Motor Co
Southeastern Iowa corn harvest surpasses expectations
In south east Iowa farmers report yields around 150 bushels per acre, higher than the predicted 120. The statewide average stands at 173, down from 181 last year, with Iowa expected to harvest about 2.15 billion bushels. On farm and off farm storage are stressed as harvest nears 80 percent completion and soybeans near completion.
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de Gazette
Iowa
Deb Duffe
Duffe Grain Inc
Wilton
Muscatine County
U.S. Department of Agriculture
Tamara Patterson
Farmers Grain and Feed Inc
Cherokee
Patterson
USDA
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