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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 19, 2003
Page
178
Stocks fell for a fourth straight session as investors digested solid Home Depot results and a GE upgrade. The Dow dropped 86.67 to 9624.16 while the Nasdaq declined 27.86 to 1881.75 amid lighter overall volume.
Consumer prices were flat in October due to declines in gasoline and energy costs offsetting a surge in beef and other prices. The CPI eased after four months of increases, while energy and fuel dynamics dominated the headline reading.
Senate fight led by Sen. Tom Harkin defeats Thomas Dorr nomination for senior Agriculture post. Grassley defends Dorr amid subsidy dispute. Veneman blames politics. Dorr had repaid 16638 dollars after subsidy questions. U.S. attorney did not prosecute due to statute limits.
Senators pressed SEC Chairman William Donaldson to curb abuses and push reforms amid state probes of Putnam Investments. Greenspan and Snow warned against reforms that raise fees. Spitzer and Galvin urged stronger accountability as millions rely on mutual funds for retirement and college funds.
Waterloo's Deere Community Credit Union merges with Ankeny based Deere Community Credit Union to form John Deere Community Credit Union. The new entity, nearly $1 billion in assets, will take effect June 1 pending approval and may add Des Moines area branches and services.
About 12 percent of the nation’s high tech jobs vanished over two years, with 540,000 eliminated in 2002 and another 234,000 projected this year. California saw 123,000 cuts in 2002, while Texas and Wyoming showed smaller shifts amid nationwide payroll declines.
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