McLeodUSA restructures to cut costs and raise cash
McLeodUSA announces a strategic restructure to accelerate growth in its 25 state footprint while reducing capital spending and selling non core assets. The plan includes laying off 1500 workers, forming five teams to boost sales, installation, billing, cash management and forecasting, and taking a 2.9 billion non cash charge in Q3 with a 35 million operating income hit.
MENTIONED IN THIS ARTICLE
Gray
Chris Davis
McLeodusa
Davis
Priority One leader cautions against panic over layoffs
Cedar Rapids Priority One President Mark Seckman says layoffs at McLeodUSA and PMX Industries plus the Goss Graphics plant closure reflect a softening economy but not a repeat of the 1980s crisis. He notes diversification, ongoing expansions, and hopeful signs for the next 6 to 24 months.
MENTIONED IN THIS ARTICLE
Seckman
Priority One
Cedar Rapids
Justice: Female elderly parolees stay out of prison
The Bureau of Justice Statistics found female and elderly parolees were more likely to avoid reincarceration than male and younger inmates. In 1999, 42 percent of 410,613 released parolees remained free for the year, 43 percent were returned for new violations, and 10 percent fled.
MENTIONED IN THIS ARTICLE
Washington
Justice Department
Hmimssa remains jailed in Linn County while probe widens
Investigators hold Hmimssa in Linn County Jail awaiting transfer to Detroit on federal fraud and document charges. FBI ties him to aliases including Michael Saisa and links to Labib an Algerian-French visitor who appeared at his Cedar Rapids apartment. Authorities note multiple Iowa licenses and a missing permit to transport hazardous waste amid a wider Chicago Detroit credit card fraud probe.
MENTIONED IN THIS ARTICLE
Labib
Dickson
Hmimssa
Linn
Detroit
Michael Saisa
FBI
Chicago
Knight Ridder
Nabil Al-Marabh
Al-Marabh
Michigan
Iowa
Saisa
Medina
Larry Holmquist
Omaha, Neb
Cedar Rapids
Also Mentioned on This Page
Thomson Financial
First Call
McLeodusa and Forstmann Little
New York
Preferred Stock Exchange
Forstmann Little
McLeodusa Publishing Co
Illinois Consolidated Telephone Co
Illinois
George Ford
Georget
Priority
George C. Ford
Mark Seckman
Bureau of Justice Statistics
Ie Contemporary Woman
Linn County
Youssef Hmimssa
Steve Gravelle
St. Luke’s
ST. Luke's Iowa
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