Wall Street slips as investors pause rally
Brief market update shows the Dow down 7.79 to 9,783.92 while the S P 500 and Nasdaq drop about 0.3 percent. Bond prices rise pushing yields lower with the 10 year Treasury at 3.39 percent. The White House weighs extending an $8,000 first time homebuyer tax credit affecting sales.
MENTIONED IN THIS ARTICLE
Treasury
White House
Robert Gibbs
Mortgage Rates Dip Slightly From Week Ago
Freddie Mac reported 30 year fixed mortgage averages at 5.04 percent down from 5.07 percent, near spring lows though above the 4.78 percent record. The 15 year fixed fell to 4.47 percent from 4.50, a record low dating to 1991. Five year ARM at 4.51 percent unchanged, and one year ARM eased to 4.58 percent from 4.64.
MENTIONED IN THIS ARTICLE
Freddie Mac
Madoff house sells for more than eight million
Long Island oceanfront property seized from Bernard Madoff drew a buyer within days. The Corcoran Group said the Montauk house was under contract for more than its 8.75 million asking price with proceeds to fraud victims.
MENTIONED IN THIS ARTICLE
Ocean
Bernard Madoff
Long Island Beach
U.S. Marshals Service
Corcoran Group
Anne Lacombe
Montauk
BHFO.com Faces Expansion as Cedar Rapids HQ Tightens
BHFO.com the largest apparel seller on eBay seeks a new headquarters and warehouse after outgrowing northeast Cedar Rapids facilities off Rockwell Drive NE. CEO Stacie Sefton says expansion is driven by eBay growth, higher ticket luxury brands, and plans to add 150000 items on eBay at a fixed price.
MENTIONED IN THIS ARTICLE
George C. Ford
Gazette
Cedar Rapids
Jon
Stacie Sefton
Bhfo.com
eBay
Rockwell Drive
Seftons
Sefton
BHFO
John Donahoe
Seamless Development Inc
Cherry Hill
N.J
Tracy Dawson
Waldinger to buy A'Hearn assets in Hiawatha
Waldinger Corp. of Des Moines reaches a preliminary agreement to buy A'Hearn Plumbing & Heating assets in Hiawatha. About 40 former A'Hearn managers join Waldinger. Sale covers equipment vehicles and inventory from Farmers State Bank of Marion pending bankruptcy dismissal.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Gazette
Hiawatha Waldinger Corp
Des Moines
A’hearn
Tom Koehn
Waldinger Corp
A’hearn Plumbing & Heating
Rockwell Collins trims 2009 earnings forecast
Rockwell Collins cut its 2009 earnings outlook to 3.70 to 3.75 dollars per share after 12 million dollars in charges for restructuring. The plan closes San Jose facilities and shifts engineering and production elsewhere. Revenue guidance lowered to 4.5 billion dollars, with shares up 1.84 to 50.58 on the NYSE.
MENTIONED IN THIS ARTICLE
Cedar Rapids
Rockwell Collins
Aerospace Electronics Company
San Jose
Calif
New York Stock Exchange
Eastern Iowa firms win state aid for expansion plans
Hub City Brewing Co. of Stanely to receive a 105000 loan and 10000 technical aid grant to raise output from 150 to 1005 barrels monthly as it expands across Iowa and neighboring states. Accent Media Inc. gets a 5000 forgivable loan to restore 600 master tapes from 2008 flood. Custom Poultry Processing in West Union secures 350000 to convert Atwood Mobile Products into a poultry plant with 126 jobs and capacity to process over 14 million chickens yearly. Heinz Co. gains 952000 in tax credits for a Muscatine plant overhaul retaining 66 jobs.
MENTIONED IN THIS ARTICLE
Ens Woies Dutedau
DES Moines
Hub City Brewing Co
Stanley
Midwest
State Economic Development Board
Hub City
Brian
Gloria Knoke
Iowa
Illinois
Minnesota
Missouri
Wisconsin
Accent Media Inc
31St St
Cedar Rapids
University of Iowa
CNN
MTV
West Union
Atwood Mobile Products
Highway 150
H.J. Heinz Co
Muscatine
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Wall Street
Madoff
Linn County
George.ford
Gazcomm.com
Harry Waldinger
Capitol City
Waldinger
Southeast
Hearn Plumbing & Heating
Koehn
David. Dewitte
Rockwell
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