Markets rise on strong retail data and HP gains
Stock indexes climb as retail sales jump and Hewlett Packard earnings beat estimates. The Dow adds 72.66 points to 9,823.61, the Nasdaq up 11.08 to 1,908.19, with volume at 1.77 billion shares. Local movers include Weyerhaeuser, Heartland Express, Alcoa, and International Paper as Nash Finch slips. McLeodUSA ranked No. 326 on Deloitte Fast 500 with 1,617 percent revenue growth 1996–2000. HP posts quarterly earnings of 19 cents per share ex one-time items amid $10.9 billion revenue. Weyerhaeuser to close mills, affecting 600+ workers in Arkansas, Canada, and Mexico.
MENTIONED IN THIS ARTICLE
Hewlett-Packard
Dow
New York Stock Exchange
McLeodusa Inc
Deloitte & Touche
McLeod USA
Iowa
Hewlett-Packard Co
Thomson Financial
First Call
Terex Waverly plant to retrain for Conway transfer plan
About 95 workers at the Terex Cranes plant in Waverly face layoff next week unless the company proceeds with plans to retool and expand. Plant manager Leon Deutsch said the operation of a Conway South Carolina plant making upper end Terex Cranes would transfer to Waverly to integrate the two operations.
MENTIONED IN THIS ARTICLE
Terex
Waverly
Leon Deutsch
Conway
S.C
Deutsch
Zero interest car deals drive October retail sales surge
Washington AP Consumers snapped up zero interest car deals fueling a record 7.1 percent rise in retail sales for October, led by a 26.4 percent jump in auto sales. Excluding autos, sales rose 1 percent with clothing up 6.9 percent, amid post attack economic concerns and a looming GDP drop.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
David Wyss
Standard & Poor’s
New York
Shire-Hattery to Relocate Design Office Downtown Cedar Rapids
Cedar Rapids arch and engineering firm Shire-Hattery will move its 60 person design office from 800 First St. NW to 201 Town Centre, 201 Third Ave. SE, occupying 20 000 sq ft on the fourth and fifth floors from McLeodUSA. Move anticipated Dec 10 with remodel over 100000.
MENTIONED IN THIS ARTICLE
Jazette Financial
Edo
Cedar Rapids
Shire-Hattery Inc
First St. NW
Town Centre
Third Ave. SE
McLeodusa
Shive-Hattery
Korean firms donate $300000 to Pentagon relief funds
Cedar Rapids leader Jim Roy Ryu and Byung-Doo Sohn of the Federation of Korean Industries donated $300,000 to the Pentagon Victims Fund and the Pentagon Assistance Fund in Washington. The gifts support immediate family aid and college funds for dependents, marking the first Korean company contribution to U S relief efforts there. Industries also gave $500000 to the World Trade Center Twin Towers Fund.
MENTIONED IN THIS ARTICLE
Pentagon
George C. Ford
U.S. Navy
Pentagon Assistance Fund
Korean War Memorial
Ryu
Federation of Korean Industries
U.S. Army
Twin Towers Fund
New York
Rudolph W. Giuliani
Amana tackles backlog amid extended overtime at Amana facility
Maytag plant in Middle Amana reports increased overtime and removal of two seven minute personal breaks to meet a seven week backlog after a strike. Production lines run longer to fulfill orders as Amana introduces energy efficient 2001 refrigerators and microwave ovens.
MENTIONED IN THIS ARTICLE
Amana
Maytag
Jim Powell
Powell
Machinists Local 152
Middle Amana
VF Corp to cut 13000 jobs in restructuring plan
VF Corp announced an 18 percent workforce reduction totaling about 13 000 positions as it exits swimwear private label knitwear and specialty workwear and focuses on jeanswear intimate apparel and outdoor lines. The moves include selling Jantzen and moving production to lower cost areas, with Martinsville plants closing by year end.
MENTIONED IN THIS ARTICLE
Charlotte
N.C
VF Corp
Lee and Wrangler Jeans
Furms
Mackey J. McDonald
Jantzen
Portland
Ore
Martinsville
Nashville
Williamsburg
Wall Street
New York Stock Exchange
Also Mentioned on This Page
Technology Fast 500
Weyerhaeuser Co
Arkansas
Canada
Mexico
The
Timber Company
Mountain Pine
Ark
Vancouver
British Columbia
Durango
Djia
Oregon
Biker Corp
Corvallis
Consumer Product Safety Commission
Sung Won Sohn
Wells Fargo
Minneapolis
National Association For Business Economics
Mmerce AP
Shire-Hattery
C.R
Rick Berndt
Shire Hattery
Berndt
Shire-Hattery’s
Firstar Bank
Second Avenue and
Third Street
George Ford
Georgef
U.S
Washington, D.C
By Dave DeWitte
Apparel
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