Nasdaq Falls Below 3000 as Hewlett Packard Disappoints
The Nasdaq Composite slid 62.27 to 2966.72 after Hewlett Packard reports weak earnings, with intraday drop to 2859.30 the lowest since last Oct. The Dow fell 85.70 to 10517.25 while blue chips declined. GM, Weyerhaeuser, and Wells Fargo eased losses as traders hunted for bargains. The Chicago Mercantile Exchange converted to a for profit, stockholder owned firm, joining a wave of demutualizations across major exchanges.
MENTIONED IN THIS ARTICLE
Hewlett-Packard
New York Stock Exchange
Iowa
Wal-Mart
U.S. Cellular
McLeod USA
General Electric
Genencor
Heinz
Weyerhaeuser
Wells Fargo
Workplace safety rules face GOP scrutiny and costs
Business groups and GOP lawmakers criticize proposed OSHA rules aimed at protecting more than 100 million workers from repetitive job injuries. Rules take effect January 16 with October compliance deadline. industry study estimates annual costs exceed 90 billion dollars for U.S. firms.
MENTIONED IN THIS ARTICLE
GOP
Occupational Safety and Health Administration
U.S
IRS warns unclaimed tax refunds totaling 67 million
The IRS reports 91,823 refunds worth 67.4 million dollars were returned due to moved addresses or inaccuracies. Average refund per check stood at 734 dollars, down from 72 million last year. Taxpayers owed refunds can call toll free 1 800 829 1040.
MENTIONED IN THIS ARTICLE
IRS
Internal Revenue Service
Connecticut Firm Closes Davenport Center Costing 30 Jobs
Ron Weber & Associates of Iowa, a Milford Connecticut firm, closed its Davenport Quad Cities center leaving about 30 employees without work. Workers observed guards at the door and belongings being removed as payroll checks were to be mailed. The company also runs call centers in Cedar Falls and Waterloo.
MENTIONED IN THIS ARTICLE
Quad Cities
Ron Weber & Associates
Iowa
Milford
Conn
Mary Samuelson
Long Grove
Cedar Falls
Waterloo
Smithfield proposes 2.7 billion stock bid for IBP in deal bid
Smithfield Foods offers to buy IBP Inc for 2.7 billion in stock to counter a management led buyout. IBP is the largest US processor of beef and pork while Smithfield is a major pork producer. The bid foresees limited plant closures, possible divestitures, and no expected rise in purchasing power that could lower hog prices for Midwest farmers. IBP shareholders would receive 25 Smithfield shares per IBP share, a premium over IBP's prior price and the management group’s bid.
MENTIONED IN THIS ARTICLE
Smithfield
Smithfield Foods Inc
IBP Inc
IBP
Joseph W. Luter III
Smithfield Foods
Smithfield makes cash bid for IBP in surprise buyout
Smithfield Foods offers $22.25 per IBP share in cash and would assume $1.4 billion of IBP debt. IBP's board studies the proposal with a special committee and financial adviser. IBP and Smithfield would combine assets, while Iowa leaders call for a federal review of the merger amid concerns for hog producers and pork consumers.
MENTIONED IN THIS ARTICLE
Smithfield Foods
IBP
Andrew Wolf
Bb&t Capital Markets
Richmond
Smithfield
Wolf
Iowa
Tom Miller
U.S. Department of Justice
U.S. Agriculture
Harkin
Electoral College themed gear grabs hype in Maine shop
Electoral College Sportswear and Accessories in Orland Maine reports surging orders for T shirts sweat shirts and caps inspired by the presidential electoral system. John and Marcia Diamond plan to hire two workers after a spike tied to election coverage on C SPAN and strong online orders from political enthusiasts.
MENTIONED IN THIS ARTICLE
Notre Dame
Michigan
Electoral College
White House
Maine
George W. Bush
al Gore
Ortland
Shelve
John
Marcia Diamond
C-Span
America
John Diamond
House of Representatives
Electoral College Athletic Department
Congress
Glenburn
Diamond
AccessAir set to resume passenger service on Wednesday
AccessAir, the Des Moines based carrier in bankruptcy restructuring, plans to resume flights to Chicago with a revamped reservations system new uniforms and a customer service focus. The airline aims for on time performance and better operations after test flights and FAA approval.
MENTIONED IN THIS ARTICLE
Des Moines
AccessAir
Cy Protection
Mulstay
Julius Dudley
Miami
Julie Evans
Dudley
My Destina
New York
Los Angeles
Chicago
American Trans Air
Federal Aviation Administration
Weyerhaeuser bids to acquire Willamette Industries in possible takeover
Weyerhaeuser Co offers 5.3 billion dollars to buy Portland based Willamette Industries and assume 1.7 billion dollars in debt. Willamette board rejects the bid and a hostile offer to shareholders is considered as a next step. The proposal values Willamette at a premium to its closing price. The Cedar Rapids plant reference ties Weyerhaeuser to Cedar River Paper Co. involvement.
MENTIONED IN THIS ARTICLE
Portland, Ore
Weyerhaeuser Co
Willamette Industries Inc
Weyerhaeuser
Cedar Rapids
Pacific Northwest
Willamette
Federal Way
Wash
Portland
Steven Rogel
Rogel
Premier Forest and Paper Products
Duane McDougall
Associated Press
Cedar River Paper Co
Iowa City Coralville CVB awards six grants totaling 3200
The Iowa City Coralville Convention and Visitors Bureau approved 3200 in Community Promotional Grant Funds to six local groups. Recipients include The Chamber Singers of Iowa City The Cruiseamatics Car Club The Eleatic Society and Education Association The Iowa Arts Festival The Old Capitol Coin Club and the University of Iowa Museum of Art.
MENTIONED IN THIS ARTICLE
Iowa City Gazette
Iowa City
Coralville
Cruiseamatics Car Club
Eleatic Society and Education Association
Eva Ybarra
Iowa Arts Festival
Old Capitol Coin Club
University of Iowa Museum of Art
Smithsonian
Convention and Visitors Bureau
Johnson County
Also Mentioned on This Page
Merc
Chicago Mercantile Exchange
Chicago Mercantile Exchange Inc
Djia
Davenport
Treasury
Treasury Department
Federal Reserve
BizFacts
New Media and TV
Canada
Poland
France
Japan
Mexico
Joice, Knoke
Mallard
Odebolt
Sioux City
Thompson
Urbandale
Smithfieldfoodscom
Dakota Dunes
S.D
North America
China
Ireland
Russia
Cherokee
Columbus Junction
Council Bluffs
Denison
Independence
Oelwein
Perry
Storm Lake
Ibpinc
Deadlock
Electoral College’ Sportswear
Internet
Acadia.net
Ecsa
I.C
Coralville Visitors Bureau
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