Wall Street steady as Metso Svedala deal grows
Wall Street held near unchanged after last week’s selloff with the Dow dipping 0.34 to 9 605.51 and the Nasdaq up 7.68 to 1 695.38. In Cedar Rapids Metso plans to complete its 1.58 billion dollar acquisition of Svedala, plus Cedar Rapids plants will settle by Sept. 14. Iowa City’s Ben Franklin store expands to 20 000 square feet at Sycamore Mall adding departments and staff.
MENTIONED IN THIS ARTICLE
Wall Street
New York Stock Exchange
Iowa
Bandag
U.S. Cellular
Nash Finch
Kohl’s
Weyerhaeuser
Metso Corp
Helsinki
Finland
Svedala Industri AB
Sweden
Svedala Industries USA
Universal Engineering
Cedar Rapids
Metso
Svedala
Ben Franklin
Iowa City
Sycamore Mall
Sears
Jane van Loh
Jeff Davis
Schimberg Co
Shaver Rd
Schimberg
Joe Schimberg
EMC Corp
Transport
AOL
Finance
Compaq
GemElec
QwestComm
American Stock Exchange
Djia Diamads
Intel
AMEX
Sun Micro
DOW Jones
Indus
Biotech
Standard & Poor's Computer
Telecom
Santa Monica
Calif
Wilshire
Associates
Treasury bill rates fall in Monday auction
Short term Treasury bills saw lower discount rates as the Treasury sold 14 billion dollars in three month bills at 3.180 percent and 12 billion in six month bills at 3.120 percent. The new rates imply yields of 3.251 percent for the three month and 3.213 percent for the six month. The Fed also reported the one year constant maturity yield eased to 3.43 percent from 3.44 percent.
MENTIONED IN THIS ARTICLE
Treasury
Treasury Department
Federal Reserve
Unpaid Vacation Pay Left in Limbo at Goss Cedar Rapids Plant
Cedar Rapids plant of Goss Graphic Systems closed, 370 workers laid off after Aug 31 meeting. Promised unused vacation pay depended on lender negotiations, despite a company letter promising payment on the next pay date. Employees reported missing vacation funds in final checks, with some owed thousands.
MENTIONED IN THIS ARTICLE
Goss
Matt Cribari
Cedar Rapids
Cribari
Thomas Cochill
U.S
Lee Mollenhauer
Mollenhauer
Machinists Local 831
Joe Ironside
Machinists
Ironside
David Stamp
Stamp
Michael Melloy
Local 83
Teamsters
J St
West Liberty meat recall over labeling fault
ASE Consumer Products recalls 410000 pounds of Butterball Turkey Variety Packs processed by West Liberty Foods due to nonfat dry milk not listed on the label. Packages carry UPC 45300 29022 and P-5533 under USDA inspection with use by dates Oct 18 to Nov 25. No illnesses reported. hot line 1-800-414-4200 for questions.
MENTIONED IN THIS ARTICLE
West Indies
USDA
Julie DeYoung
ASE Consumer Products
Kenneth Rutledge
West Liberty Foods
Rutledge
U.S. Department of Agriculture
Food Safety and Inspection Service
DeYoung
Harvest Delays Pin Grain Corn For Iowa Farms
Iowa harvest for silage is underway while grain corn waits several weeks. Jerry Keleher of Clarence Co op says about half the silage is chopped, with average tonnage. Soybean harvest is two to three weeks away, aided by recent rains, while corn remains in dent stage state wide.
MENTIONED IN THIS ARTICLE
Gazette Rural Affairs
Iowa
Jerry Keleher
Clarence Co-op
North
Cedar County
Co-Op
Keleher
Iowa Crops
Qwest to Cut 4000 Jobs Amid Forecast Cut
Qwest Communications International said it will cut 4,000 jobs, about 6 percent of its workforce, and lowered its 2001 revenue forecast to about 20.5 billion dollars with EBITDA around 8 billion. The Denver company cited deteriorating economic conditions and noted 2000 revenue was 18.95 billion with a 995 million profit.
MENTIONED IN THIS ARTICLE
Denver
Qwest Communications International
Qwest
New York Stock Exchange
David Bench
Arn
Frank Governali
Goldman, Sachs & Co
Joe Nacchio
Also Mentioned on This Page
J.C. Ben Franklin
Djia
Krt Sour
Ays
Pat Cart
Paul Trap
By Dave DeWitte
West Liberty
By Marlene Lucas
ASE
C.R
S By
Kelly West
Iowa Agricultural Statistics
Hold & S. Bleichroeder
New York
Penny
de Saver
Anes
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