Stocks mixed as Dow lingers above 8000 in late trading
Stocks rose and fell on a day of big economic news with the Dow closing down 46.17 at 7,945.26 after an early dip. Eastern Iowa shares saw 18 gainers, 19 decliners, and six unchanged as volume surged to 586.79 million trades. The Labor Department reports back wages totaling 5415.76 owed to Iowa workers under the Fair Labor Standards Act and invites affected individuals to contact the Wage and Hour Division in Kansas City Missouri.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Eastern
Iowa
HON Industries
McLeod
Heartland Express
Allied Group
Western Atlas
U.S. Cellular
Procter & Gamble
U.S. Department of Labor
U.S. Department of Labor, Employment Standards Administration
Main St
Kansas City
UnisysCp
GulfindoRs
WstDigitals
Baker Hughes
American Stock Exchange
SPOR
EchoBay
Royal Oak
Cisco
DOW Jones
Amex
Banas
Biotech
Finance Computer
Standard & Poor’s Indust
Insurance
Industrie
Telecom
Transpt
Transport
Utilities
Wilshire Associates
Associated Press
Rockwell Completes Automotive Spin-off To Shareowners
Rockwell International Corp announced the completion of the spin off of its Automotive unit to Rockwell shareholders. Meritor Automotive Inc will become an independent, publicly traded company today and commence operations separately.
MENTIONED IN THIS ARTICLE
Rockwell International Corp
Rockwell
Meritor Automotive Inc
Arsenal Island trims 101 jobs in new cutbacks
Arsenal Island near Davenport will shed 101 more jobs as part of ongoing staffing reductions bringing total cuts to 178. The IOC which employs 1,493 workers offers early retirement incentives through Oct 28. If 59 take the offer, 42 positions may be eliminated by reassigning remaining workers to uneliminated vacancies. Sony and Cineplex Odeon merge to form Loews Cineplex Entertainment, the world’s largest theater company with over 2,600 North American screens and more than 460 complexes.
MENTIONED IN THIS ARTICLE
Arsenal Island
Davenport
Army
Industrial Operations Command
IOC
Sony Corporation of America
Cineplex Odeon
North America
Loews Cineplex Entertainment
Improper hiring practices traced at federal credit union regulator
Documents reveal National Credit Union Administration staff tracked applicants by race and gender and purged data before audits. OPM found 60 to 80 examiner hires may have used biased methods, blocking veterans and laid-off workers. NCAA leaders were placed on leave as reforms began.
MENTIONED IN THIS ARTICLE
Washington
Dorothy
Foster
National Credit Union Administration
OPM
NCAA
Karl Hoyle
Lactic acid spray cuts bacteria on beef carcasses
University of Missouri Columbia researchers report that a corn derived heated lactic acid spray reduces bacteria on beef carcasses by more than 99 percent. The treatment also slows E coli growth and remains effective for several days.
MENTIONED IN THIS ARTICLE
University of Missouri-Columbia
Judge upholds FTC ruling against Toys R Us for anti competitive conduct
Administrative judge James Timony ruled Toys R Us unlawfully pressured manufacturers to withhold products from rival warehouse clubs. The decision bars price fixing style restraints and restricts supplier information sharing for five years, with Toys R Us facing continued scrutiny. Reuters reported.
MENTIONED IN THIS ARTICLE
Washington
Toys ‘“R
James Timony
Toys ‘R” Us
Price Club
Sam’s
Bj’s
Federal Trade Commission
Toys “R’ Us
Rebecca Caruso
Timony
Toys “R” Us
Harkin undecided on fast-track trade
Senator Tom Harkin remains undecided on President Clinton's fast-track trade proposal. Discussions with agriculture state colleagues focus on a potential bill limited to U S Chile free trade and whether to pursue full fast track authority. Senator Bob Kerrey urges a narrowed request for Chile with a week deadline.
MENTIONED IN THIS ARTICLE
David Lynch
Washington
Tom Harkin
Iowa
Clinton
Harkin
United States
Chile
Bob Kerrey
D-Neb
Congress
Kerrey
Federal Reserve Leaves Rates Unchanged Amid Inflation Calm
The Federal Reserve kept the target for the federal funds rate at 5.5 percent after a three hour policy meeting. Officials cited signs of easing inflation despite robust growth and record low unemployment as a reason to stay the course. Analysts worried about when this favorable trend might fade as the economy continues to expand and price pressures remain modest.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Central Bank
Fed
AccessAir raises 19 million to launch Des Moines carrier
AccessAir plans a Des Moines based airline with initial flights to New York and Los Angeles from Des Moines Moline Peoria and target routes to Sioux City Wichita Washington and San Francisco. Former Eastern VP Roger Ferguson says jets could fly by year end after surpassing a 14.9 million financing goal. Flights will cost 99 to 229 dollars one way with advance or last minute buys at the same price. FAA certification is still required.
MENTIONED IN THIS ARTICLE
DES Moines
Iowa
AccessAir
Roger Ferguson
New York
Los Angeles
Quad Cities
Moline
Ill
Peoria
Ferguson
Sioux City
Wichita
Kan
Washington
San Francisco
Federal Aviation Administration
Also Mentioned on This Page
Arsenal
Borrow Livers
Kari Hoyle
Hoyle
Norman D’'Amours
House
Foster and
Judge Rules
Toys ‘R’ Us
Mattel
Hasbro
Farmers State Bank
Cedar Rapids Fdic
Faon
David Jones
Aubrey G. Lanston & Co
Paul Getman
Regional Financial Associates
West Chester
AccessaAir
Eastern Airlines
Pamela
Grinnell College
Steinway & Sons
Marion
Les Marquart
Employer Tax & Regulation Management
Weme
Attan Annann
AsAney CA
Woodland Ave
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