Wall Street slips as stocks retreat after rally gains
U.S. markets declined midweek with the Dow dropping 183.18 points to 7755.61 and the Nasdaq down 26.42 to 1187.30 as confidence wavered after Tuesday’s surge. Access Direct announced a 10th Iowa call center plan creating 200 jobs in Waterloo Ottumwa or Quad Cities with a late-year operation. Family Dollar Stores posted a 22 percent rise in fourth-quarter profit to 41.9 million on 14.9 percent higher sales over last year, while McLeod USA approved stock option plans for executives amid a 30 cent stock price. Pork in the Park lunch event set for Friday in Greene Square Park.
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Wall Street
New York Stock Exchange
Access Direct
Iowa
Waterloo
Ottumwa
Quad Cities
Family Dollar Stores Inc
North Carolina
Maquoketa
Former Enron CFO charged with fraud
Former Enron chief financial officer Andrew Fastow, 40, surrendered to the FBI and was charged with fraud money laundering and conspiracy for hiding about 1 billion in Enron debt through off the books partnerships. Prosecutors say the conspiracy ran from 1997 to mid 2001 and aim to use him to implicate other insiders.
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Enron
Andrew Fastow
Bob Casey
United States
FBI
Fastow
Houston
Justice Department
Jeffrey Skilling
Kenneth Lay
Larry Thompson
Washington
Michael Kopper
Iowa growth forecast dims in Creighton survey
Creighton University’s Business Conditions Index for the Midwest fell to 49.4 in September, the lowest since January, with Iowa’s index slipping from 61.1 to 52.9 and New Orders 61 to 50.9. Prof. Ernie Goss cautions the pace may slow further despite the overall expansion above 50. He notes droughts and weak U.S. demand as contributors and calls for policy steps like an investment tax credit to boost activity.
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the Gazette
Creighton University of Omaha
Neb
Midwest
Creighton
Kansas
North Dakota
Nebraska
South Dakota
U.S
Ernie Goss
National Association of Purchasing Manager
Iowa
Goss
Fed
Inequity in farm bill cut for soybean growers
Washington officials announced a reinterpretation of the base soybean acre provision in the farm bill. Sen. Chuck Grassley and Rep. Greg Ganske criticized prior rotations that limited soybean base credits, while USDA released a new formula allowing 30 acres credited yearly for four years. Farmers can adjust by April 1 to receive potential adjusted payments.
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Gazette
Washington
Chuck Grassley
Greg Ganske
Jim Mosely
Grassley
Ganske
U.S. Department of Agriculture
USDA
southern Iowa to get hearing on Alliant rate rise
In Ottumwa the Iowa Utilities Board schedules a second public hearing at 7 p.m. in response to strong opposition to Alliant Energy rate increases and rapid equalization. About 500 attended the Sept. 25 hearing. 325 were turned away. The five year plan would lift residential southern Iowa rates by 58 percent, with northern zones paying as much as 60 percent more than southern areas. The board seeks input ahead of hearings starting Oct. 23, with a decision due by April 15.
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Dave DeWitte
Gazette
Cedar Rapids
Alliant Energy
Iowa
Iowa Utilities Board
Ottumwa
IUB
Utilities Board
Alliant
Iowa Southern Utilities
IRS
Bob Latham
Coalition
Latham
Burlington
Iowa Consumer Advocate
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Greene Square
Greene Square Park
Iowa Farmer Today
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The
Linn County Park Producers
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Chris A. Davis
McLeod USA
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By Dave DeWitte
East Iowa
Che Apac
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Mesick
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Bandag Inc
Pearson PLC
Casevs Gen Store
Penford Corp
Columbus McKinnon
PepsiCo
Procter Gamble
Comel Feds
Qwest Commun
Deere Co
Olliards Inc
RF Micro Devices Fastenal Co
Raicorp Holding
Featherfire Inc
Rockwell Collins
Fiserv
Saks Inc
Genencor Inti Inc
Sealed Air
Skyworks Solution
Gen Mills
Gillette Co
Tanger
Heartland Expo
Terex Co
Heinz
Toyota Mot
Hon Inds
Union Planters
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Keane Inc US Cellular
Kohls Corp
Longon File
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Dana Nichols
Ron Larson
Mitch McElree
Paula Wickham
Gary Becker
Cedar Rapids Bank Trust
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