Wall Street Pauses Ahead of Fed Meeting
Markets slip as investors await a Federal Reserve rate decision. The Dow falls 10.73 to 8836.83 and the Nasdaq dips 18.34 to 1480.46 amid light volume of 1.12 billion shares. Eastern Iowa stocks show mixed results with Toyota up and Nash Finch, RF Micro, Fiserv, and U.S. Cellular down.
MENTIONED IN THIS ARTICLE
Wall Street
Federal Reserve
New York Stock Exchange
Iowa
Toyota
Nash Finch
Fiserv
U.S. Cellular
Hog futures surge to daily limit on improved supply data
Hog futures at the Chicago Mercantile Exchange rallied to the 2 cent daily limit as the USDA Hogs & Pigs report shows supplies below expectations as of Sept 1. The agency also revised downward prior quarter slaughters, lifting nearby October hogs to 60.6 cents a pound, the highest close since Sept 18.
MENTIONED IN THIS ARTICLE
Chicago Mercantile Exchange
U.S. Department of Agriculture
USDA
Krispy Kreme tests smaller doughnut vending machine
Krispy Kreme Doughnuts Corp. says it is testing a compact machine to expand sales into smaller stores. The device bakes and glazes dough prepared at a larger plant, enabling access in areas lacking population for a 4,000 square foot factory store. The company may roll out to convenience and grocery stores that receive daily deliveries. Krispy Kreme runs a factory store in northeast Cedar Rapids.
MENTIONED IN THIS ARTICLE
Krispy Kreme Doughnuts Corp
Krispy Kreme
Winston-Salem
N.C
Cedar Rapids
Conde Nast to close Mademoiselle magazine
Conde Nast Publications Inc. will shut Mademoiselle after its November issue as the magazine market weakens. All 98 employees lose their jobs though some may transfer within the company. Subscribers will switch to Glamour starting with the January issue.
MENTIONED IN THIS ARTICLE
Conde Nast Publications Inc
Mademoiselle
Glamour
Conde Nast
Cadbury Sues PepsiCo Over Antitrust Clash in Texas
Cadbury Schweppes Dr Pepper-Seven Up unit sues PepsiCo in Morris County Texas alleging antitrust violation. The suit claims PepsiCo's agreement with Tricon Global Restaurants penalizes 7Up for its ties to Pizza Hut KFC and Taco Bell.
MENTIONED IN THIS ARTICLE
Cadbury Schweppes PLC
U.S
PepsiCo Inc
Pizza Hut
KFC
Taco Bell
Cadbury
Dr Pepper-Seven Up
Morris County
Texas
Cadbury Schweppes
Plano
PepsiCo
Tricon Global
Tricon
Short term Treasury bill rates drop to 40-year lows
The Treasury auctioned 13 billion in three month bills at 2.320 percent and 11 billion in six month bills at 2.325 percent. The implied yields after tax and price show 2.364 percent for the three month and 2.384 percent for the six month. The Fed reported the one year constant maturity bill yield fell to 2.49 percent from 2.60 percent.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Federal Reserve
Goss contests 85 retirees' unemployment claims
Goss Graphic Systems challenges unemployment claims from about 85 retirees who say they did not receive full promised retirement packages after the Cedar Rapids plant closed and the company filed for Chapter 11. Hearings will review claims. severance and vacation pay were in dispute.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Cedar Rapids
Goss Graphic Systems
Goss
Ironside
Manufacturing declines for 14th straight month
New York AP reports the national manufacturing sector stayed in contraction for September with the NAPM index at 47.6 down from 47.9, suggesting limited stabilization amid the post attack environment. Separate Commerce data show August consumer spending up 0.2 percent aided by tax rebate checks and lower tax rates, while construction spending fell 1.1 percent led by commercial projects.
MENTIONED IN THIS ARTICLE
New York
Commerce Department
Tempe
NAPM
U.S
David Orr
First Union Securities
Midwest economy shows delay in recovery after terrorist attacks
Creighton University economist Ernie Goss cites a nine state September survey that shows an overall 449 reading, below the 50 growth-neutral level for the eleventh straight month. Inflation remains low while export orders fall and unemployment is expected to rise, with Iowa’s rate seen at 4.1 percent by year end.
MENTIONED IN THIS ARTICLE
Omaha
Neb
Midwest
Creighton Uni
Goss
Arkansas
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
Oklahoma
South Dakota
Frost Touches Northern Iowa Crops Ahead of Harvest
The Iowa Crops and Weather Report cites the first frost in northern Iowa with some soybean damage and hail in north central and northeast districts. Corn harvest is 5 percent complete statewide, soybeans 6 percent, with corn silage nearly finished in northwest and central areas. Continued warm dry weather is needed to dry crops.
MENTIONED IN THIS ARTICLE
George C. Ford
Iowa
Iowa Crops & Weather Report
Iowa Agricultural Statistics Service
Northwest
North
South
Northwest Airlines 75th anniversary hit by mass layoffs
On Northwest Airlines 75th anniversary, about 1 000 management jobs were cut as part of a 10 000 position systemwide downsizing amid post Sept 11 travel declines. Senior staff including spokesmen Doug Killian and Dennis Mollura were among those losing jobs as operations pivot to recovery.
MENTIONED IN THIS ARTICLE
Minneapolis
Northwest Airlines
Northwest
World Trade Center
Pentagon
Doug Killian
Dennis Mollura
Also Mentioned on This Page
Fed
Djia
Mademoiselle Magazine
Dr Pepper
Seven Up
BizFact
Rorelit
Joe Ironside
The
Machinists Union
Chicago
NTT DoCoMo
Mariko Wada
Atsuko Tsuji
Japan
Tokyo
Ernie Goss
Washington
Lowa
Iowa Agricultural Statistics
Gazette Graphic
Gan
Richard Anderson
Terrace Ridge Duplexes
Julie Brown
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