Gas Prices Dip, Crude Falls Sharply Across Nation
Gasoline prices slid for 17th week since July 4 dropping below 2 dollars in many states and near 1.50 at some stations while the national average touched 2.22 per gallon. Crude oil settled at 59.33 a barrel, a 20 month low, after falling 3.08 on the NYMEX. Separately Wisconsin regulators rejected Alliant Energy’s plan for a coal fired Cassville plant citing cost and cleaner options. The decision drew praise from Midwest environmental groups.
MENTIONED IN THIS ARTICLE
New York Mercantile Exchange
Alliant Energy
Wisconsin
Wisconsin Power & Light
Cassville
Mississippi River
Grant County
Wisconsin Public Service Commission
Iowa Environmental Council
Clean
Midwest
TJX earnings dip as third quarter profit falls five percent
TJX Companies reports third quarter profit down 5 percent to 235.8 million as weak exchange rates and a soft economy hit results for TJX stores. Earnings from continuing operations rise to 58 cents a share on 4.76 billion in sales, up from 4.66 billion. GM trims salaried costs further after buying 3,460 offers to date, surpassing its 3,000 target.
MENTIONED IN THIS ARTICLE
TJX
T.J. Maxx
Marshalls
General Motors Corp
Tom Wilkinson
Flood recovery: Hansen's Hair Haven reopens in Cedar Rapids
Local business Hansen's Hair Haven at 719 Third St. SW Cedar Rapids has resumed operations after the June flood. Readers with reopening notices should email money gazcomm.com to announce their status.
MENTIONED IN THIS ARTICLE
Hansen's Hair Haven
Third St
Cedar Rapids
Money
Gazcomm.com
Gas Price Survey in the Corridor
A selective survey shows gas prices in the Corridor as of yesterday afternoon. Prices are rounded up to the nearest cent.
Mortgage affordability steps planned in loan modification push
U S officials unveil a simpler faster process for modifying Fannie Mae and Freddie Mac loans. Targeting homeowners with three missed payments, the plan lowers payments to under 38 percent of monthly gross income by cutting rates, deferring principal, and extending terms up to 40 years. Eligible borrowers receive $800 per modified loan, with customized reviews for those outside guidelines. Citigroup expands foreclosure relief and loan workouts, while FDIC chairs warn the plan may not suffice to avert widespread foreclosures.
MENTIONED IN THIS ARTICLE
Los Angeles Times
Washington
Fannie Mae
Freddie Mac
Neel Kashkari
Treasury
Financial Security
James Lockhart
Federal Housing Finance Agency
Citi
FDIC
Sheila Bair
Bair
Kirkwood hosts career fair linking 60 Eastern Iowa employers
The Kirkwood Community College career fair drew 60 Eastern Iowa employers and a steady stream of students and job seekers with openings across call centers energy health care and financial services. Employers including Thomas L. Cardella & Associates Alliant Energy Great America Leasing and GE Capital sought both entry level and experienced candidates while highlighting internships and relocation possibilities.
MENTIONED IN THIS ARTICLE
Ie Gazette Edar Rapids
Iowa Hall
Kirkwood Community College
Iowa
Kirkwood
Dani Lind
Lisbon
Yellowbook
Cedar Rapids
Lind
Thomas L. Cardella & Associates
Coralville
Keokuk
Kristy Shreeves
Alliant Energy
Staci Wall
GE Capital
Pound
Alegent Health
Nebraska
Liz Martin
the Gazette
Becky Holub
Aegon USA
Joana Karl
Consumer spending woes push stocks lower on Wall Street
Wall Street sank as consumer spending slump erodes faith in any sectors. Dow fell about 180 points after Starbucks sales drop and Toll Brothers revenue decline. GM cuts jobs layered in amid automaker bailout hopes. Bear Stearns mortgage portfolio buoyed market. Major indices ended lower with broad declines and more decliners.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Starbucks Corp
Toll Brothers Inc
American International Group Inc
General Motors Corp
BlackRock
Stearns
Economists foresee protracted recovery and wary markets
Economists warn against a quick rebound as the economy may enter a longer recession than the prior eight months. Obama signals no fast fixes, while experts note conditions could improve slowly through 2009. Analysts debate political gridlock impact on stocks and potential boosts from a strong economic team and Fed actions.
MENTIONED IN THIS ARTICLE
Barack Obama
Anthony Chan
Jpmorgan
New York
U.S
Sam Stovall
Standard & Poor
Equity Research Services
Congress
White House
Wall Street
Obama
Allen Iverson
Detroit Pistons
A.I
Federal Reserve
Paul Volcker
Lawrence Summers
Harvard
Clinton
Treasury
David Sowerby
Loomis, Sayles & Co
Bloomfield Hills
Mich
Sowerby
S&p 500
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Auto Industry
General Motors
First Ave
15Th St
Williams Boulevard
Casey's
Dubuque & Market Streets
Iowa City
First Avenue
George C. Ford
George.ford
New York Stock Exchange
Susan Temper
Detroit Free
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