Markets rise for seventh straight session on Dow gain
Stocks climbed for a seventh day as the Dow gained 13.91 to 8,533.14 with 3-to-2 advancers over decliners on the NYSE and a total volume of 897.72 million. Among Eastern Iowa names 23 rose, 17 fell, and 2 were unchanged. Quaker Oats posted a third-quarter profit rise driven by Gatorade sales while mortgage rates drifted lower. Cedar Rapids firm James S. Seifert & Sons named Bill Scott as corporate president as part of leadership changes and local events promoted by Cedar Rapids Fire Department and Batteries Plus offered a nine-volt battery giveaway.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Iowa
General Electric
General Mills
Procter & Gamble
Wal-Mart
United Fire
Eastman Kodak
HON Industries
Sealed Air Corp
Unova
Weyerhaeuser
Quaker Oats Co
Conocon
Transport Fiel
Citigroups
LucentTechs
Company Housendin
American Stock Exchange
SPOR
Cisco
HBO
DOW Jones
Amex
Ind
Biotech
Standard & Poor's Indust
Indust
Insurance
Transpt
Wednesource
Associated Press Ay
SuperValu to Acquire Randall Stores Nationwide
SuperValu Inc. of Minneapolis will acquire Randall Stores Inc. owner of Randall Foods in Cedar Rapids and the Cub Foods in Iowa City. The deal includes 29 Randall Foods stores plus other units and is expected to close in early 1999. Rita Simmer says the stores will keep current employees and names.
MENTIONED IN THIS ARTICLE
George C. Ford
Ron Randall
Randall Stores
F. Dwain
Doc’ Randall
Flandreau
S.D
Minnesota
Randall Foods
Edgewood Rd
Cedar Rapids
Barlow Foods
Armar Dr
Marion
Aegon USA
Toyota Motor Credit Corp
Toyota Financial Services
North River Blvd
Cub Foods
Highway 1
Iowa City
Randall
Coralville
Melanie Kimbier
Gazette
Randall Stores Inc
Mitchell, S.C
SuperValu Inc
Minneapolis
Expert: Japan needs tough action on spiraling economy
Firstar Investment Management chief Scott Harkness says Japan must wrench governance and party politics to reverse its downturn. He argues markets show excess hope, urges patience, and predicts lower inflation and yields next year while remaining bullish on financial assets and stocks.
MENTIONED IN THIS ARTICLE
George C. Ford
Wgazette
South Korea
Firstar Corp
Scott Harkness
Firstat Investment Management and Research
Milwaukee
the Gazette
Japan
Harkness
Home starts steady in Cedar Rapids and slight drop in Iowa City
Cedar Rapids issued 31 housing permits in September, unchanged from 1997 and down from August, with 29 single family and two town houses. Iowa City issued 13 permits, down from 1997 but up from August, including 11 single family homes and two apartment buildings with eight units.
MENTIONED IN THIS ARTICLE
South
Housing Starts Dip After 11-Year High
U S housing construction fell for a second straight month in September with total starts at a seasonally adjusted annual rate of 1.58 million, down 2.5 percent from August. The South led declines amid hurricane impact, while the West and Midwest rose and the Northeast eased.
MENTIONED IN THIS ARTICLE
Freddie Mac
Commerce Department
Midwest
Wendy's franchisee sues Wendy's for 150 million bias claims
A Houston based Black Wendy's owner Theldon Branch seeks 150 million in a federal suit alleging racial discrimination in franchise deals. He claims black operators are forced to build from scratch and incur debt while white owned units are sold cheaper. The case targets Wendy's Corp and aims to class action status with other Black franchisees.
MENTIONED IN THIS ARTICLE
Wendy’s
Chicago
Wendy’s Corp
Theldon Branch
Houston
Branch
California
Fritz Reed
Larry Green
Green
U.S District Court
Edmond Jordan
Detroit
McLeodUSA to Raise About 300 Million in Private Debt
Cedar Rapids based McLeodUSA plans a private offering of senior notes to qualified institutional buyers, targeting about 300 million. It is the fourth private debt issue in 18 months, with prior offerings totaling about 825 million to fund fiber network expansion and market growth. Moody’s rates the notes B2 and S P rates B.
MENTIONED IN THIS ARTICLE
Moody's Investors Service
Standard & Poor’s Corp
McLeodusa
Treasury
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National Propane Partners L.P
Seiferts
James S. Seifert & Sons
Bill Scott
Scott
Jim Seifert
Quaker
SuperValu
Illinois
Missouri
Nebraska
Wisconsin
South Dakota
Kentucky
Kiichi Miyazawa
Miyazawa
H.R. Haldeman
Keizo Obuchi
Liberal Democratic Party
Korea
C.R
Mississippi
Louisiana
Micleodusa
Standard & Poors
Collins Community AD Credit Union
Benton, Buchanan, Cedar
Delaware
Johnson, Jones, Iowa & Linn Counties
Collinscn
NCAA
D Street
42Nd Street
14Th Avenue
1St Avenue
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