Markets Turn Up as Dow Rebounds on Wary Outlook
Stocks staged a mild recovery with the Dow up 10.80 points to 3271.39 after a sharp drop. Analysts cited investor caution over the economy and profits despite lower rates, while local issues included Pennzoil and Equitable of Iowa moves and Amana beef plans. Also, 1696 Saturn cars to be crushed after recalls, with some units used for education and display. Eastern Iowa cooperative meeting underway with patronage checks and a noon show. Farmland values in Iowa rose 1.1 percent over six months, with frost risk looming over harvest prospects.
MENTIONED IN THIS ARTICLE
Pennzoil
Equitable of
Iowa
Younkers
Spring Hill
Tenn
Saturn
General Motors
Bill Betts
Betts
Eastern
Iowa Light and Power Cooperative
Wilton
REC
Board of Directors
Equity Capital
Clinton County Park Producers
Bobby Williams
Albia
David Okerlund
Cortland, Neb
Sioux City
Iowa Farm & Land Chapter No
The
Realtors Land Institute
Federal Reserve Bank of Chicago
Edwards says rates too low hampers saving and investment
Benjamin Edwards III of A G Edwards & Sons told Cedar Rapids officials that slashed short term rates fail to stimulate growth. He argues saving is penalized by taxes while borrowing is rewarded and questions Clinton's tech investment focus. He urged private public cooperation while prioritizing streets sewers and education.
MENTIONED IN THIS ARTICLE
George C. Ford
Clinton
Reagan
Bush
Edwards
Chamber plans future for Cedar Rapids growth and jobs
Cedar Rapids Area Chamber of Commerce unveils a community futures initiative to guide growth and housing as the city may expand. Chairman Gary Streit emphasizes retaining small businesses, offering free 30 minute adviser sessions, and aligning resources. Priority One aims to create over 5,000 jobs and expand the tax base by 400 million through commercial and industrial investment.
MENTIONED IN THIS ARTICLE
Cedar Rapids Area
Streit
Chamber
Collins Plaza Hotel & Convention Center
Priority One
Iowa banks post higher second quarter profits
Iowa commercial banks earned 113 million in the quarter ended June 30, up from 96 million a year earlier, with a 227 million six month total, as nationwide bank profits rose to a record 7.9 billion. The FDIC cites lower bad loans and widening loan deposit spreads as key factors.
MENTIONED IN THIS ARTICLE
Associated Press and Gazette
Iowa
Federal Deposit Insurance Corp
FDIC
Florida freezes rates of insurer after Andrew losses
Florida insurance officials freeze 60 days of AIG premiums and probe possible action after a memo urged rate hikes. State Farm estimates 1.5 billion dollars in payouts for Andrew losses and will deploy 400 more workers. Allstate projects 165,000 hurricane claims totaling over 1 billion dollars, hurting earnings.
MENTIONED IN THIS ARTICLE
Tallahassee
Fla
Florida
American International Group
AIG
Department of Insurance
Tom Gallagher
Gallagher
J.W. Greenberg
State Farm Insurance
State Farm
Louisiana
Bill Sirola
Bloomington
Ill
Lstate Insurance Co
GM unveils new GM Card with 5 percent rebate offer
General Motors introduced a new credit card in New York with no annual fee. The GM Card offers an adjustable 16.4 percent interest rate and a 5 percent rebate up to $500 on GM car or truck purchases or leases.
MENTIONED IN THIS ARTICLE
New York
General Motors
Also Mentioned on This Page
Hy-Vee
Des Moines
Spencer
Amana Society Inc
Beef Specialists of
Amana Society
Amana
Beef Specialties
Japan
Power Co-Op Meeting
Old Father Retail
Cedar Rapids
St. Louis
Benjamin Edwards
A.G. Edwards
Chamber of Commerce
C.r.’S Future
Rockwell International Photo
Rockwell International
Collins Avionics and Communication
Navstar
Search and Rescue
Border Patrol
Southeast Asia
Divine Engineering
Kim Schmidt
Divine Engineering Inc
Sixth St
Jared Hills
Gene Larson Construction of
Allstate
Sears, Roebuck and Co
A.M. Best Co
East
Tet Ave
Business Printing Services
Edgewood Rd
Skogman
Ralston - Carlson
First Avenue
Angie Blockhus
Rarayra
Third Avenue S.E
Mt. Vernon Rd
S.E
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