Phar Mor Files Chapter 11 and Plans Store Closures
Phar Mor Inc and affiliates filed for Chapter 11 bankruptcy protection marking a second filing since 1992. The plan calls for closing about 65 of 139 stores over weeks while operating roughly 74 locations and cutting corporate costs, with two Cedar Rapids and Davenport stores mentioned. Freightliner LLC predicts a record 1.2 billion loss this year, risking two Portland area plants after a 520 million loss in the first half.
MENTIONED IN THIS ARTICLE
Phar-Mor Inc
Discount Drugstore
Phar-Mor
Collins Road Square
Cedar Rapids
Davenport
Freightliner LLC
DaimlerChrysler AG
Oregon
Stark
News Service Interactive
Freightliner
Portland
Volkswagen to idle German plants for a week
Volkswagen AG said it will idle two German plants in Emden and Wolfsburg for one week starting October 15 to curb deteriorating demand and cut 13,200 units. Ford's German unit will slow engine output at Cologne, while GM contemplates permanent European job cuts.
MENTIONED IN THIS ARTICLE
Volkswagen AG
Europe
Germany
Emden
Wolfsburg
Ford Motor Co
Cologne
General Motors
Honeywell Announces 15800 Job Cuts Worldwide
Honeywell International disclosed that total layoffs for the year will reach 15800, with 3800 cuts added recently. The cuts amount to about 13 percent of the global workforce and largely affect the aerospace division, discussed at Monday meetings with analysts in New York.
MENTIONED IN THIS ARTICLE
Honeywell International
New York
Aerospace
Margarine recall over dairy allergy labeling mixup
ConAgra Dairy Foods recalls 3000 pounds of Fleischmanns margarine sold in 19 states due to whey in original sticks mispackaged as Unsalted. Consumers with dairy allergies should return for refunds. Look for code JAN 3102 ON near the best if used by date on boxes.
MENTIONED IN THIS ARTICLE
Fleischmann
ConAgra Dairy Foods
Downers Grove
Ill
Stocks rally as Dow gains 368 points amid postattack nerves
Wall Street rebounded from a brutal week with the Dow up 368.05 to 8,603.86 and the Nasdaq 76.21 higher at 1,499.40, as investors priced in discounted shares while awaiting clarity on retaliation and economic impact. Traders noted continued volatility and caution despite the sizable advance.
MENTIONED IN THIS ARTICLE
New York
Wall Street
Dow
Amana plant strike follows rejected contract offer
About 1,800 Amana workers walk picket lines after the Machinists Union rejected a three year contract with Maytag. The dispute centers on overtime language, a two tier wage plan, and higher health care costs. Production is uncertain as talks pause and officials await a company call to resume negotiations.
MENTIONED IN THIS ARTICLE
Amana
Maytag
Miller
Crop maturity delayed by cool wet weather in Iowa
Iowa corn and soybean maturity and drying are slowed by cool wet conditions. For the week ending Sept 16, 55 percent of corn and 56 percent of soybeans were rated good to excellent before Sunday, then 53 percent for both after. Only 1 percent of soybeans harvested by Sept 23, well below last year's 21 percent. Rainfall averaged 1.11 inches, boosting topsoil moisture to 84 percent adequate to surplus.
MENTIONED IN THIS ARTICLE
Iowa
Energy futures slide as demand fears push crude below $23
New York energy markets slump on weak global economy with crude dipping to 22.01 a barrel and Brent at 22.02. Natural gas drops below 2 as supplies rise and demand stays soft for manufacturers and power plants. Gasoline and heating oil also retreat as airlines trim flights and autumn stockpiles ease.
MENTIONED IN THIS ARTICLE
NEW York
New York Mercantile Exchange
Ed Silliere
Energy Merchant LLC
Europe
North Sea Brent
Northern Hemisphere
T-bill rates fall to 40-year low in auctions
Treasury sold 14 billion in three month bills at 2.38 percent and 12 billion in six month bills at 2.36 percent. The three month rate last at 2.38 percent dates to 1961 and the six month rate to 1961. The Fed also reported one year T-bill yields averaged 2.60 percent last week down from 3.02 percent.
MENTIONED IN THIS ARTICLE
Washington
Treasury
Treasury Department
Federal Reserve
GeniElec
Transport
EMC Corp
Finance
LucentTech
AOL
American Stock Exchange
Djia Diarmonds
DevonEngy
Cisco
Intel
Oracle
Sun Micro
JDS
Uniph
Ind
Biotech
Computer
Standard & Poor's Finance
Indust
Indust Ner St Nines Et Path
Insurance
Santa Monica
Calif
Wilshire
Associated Press
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Volkswagen
Honeywell
BizFact
U.S
Charles Pradilla
SG Cowen
New York Stock Exchange
General Electric
Deere
Toyota
Kohl’s
Wal- Mart
AEGON
Nash Finch
By Dave DeWitte
David DeWitte
Davidd
Gazette
Buzz Orr
Maytag Corp
Amana Appliances
Middle Amana
By Marlene Lucas
Mike Duncomb
Swiss Valley Ag
Monticello
the Gazette
FDIC
Williams Blvd
Edgewood Rd
Seventh Avenue
Marion
First Avenue
1St St. Monticello
Aseen Asd
Giuliaingia
Mt. Vernon Road
Johnson Avenue
Comfedbank.com
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