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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 25, 2002
Page
10
Omaha based Travel and Transport a Marion area firm completes move to full ESOP ownership. Formed in 1991 with 30 percent ESOP stake 2000 added 40 percent more. Ninth largest travel management firm in the US with 675 million in sales and 750 plus employees.
The Dow fell 189.02 points to 7,683.13, its lowest close since Oct 1998, with tech shares weaker yet the Nasdaq sliding to a six year low. Xerox dropped after prosecutors opened a criminal inquiry into its accounting practices amid broader concerns over Iraq tensions and a Fed rate hold.
The Federal Reserve kept the federal funds rate at 1.75 percent with two dissents, citing moderate growth but signaling openness to future cuts if economic conditions worsen. Greenspan and the FOMC note productivity gains could support a modest recovery while risk from weak demand persists.
The Conference Board reports the Consumer Confidence Index fell to 93.3 in September from 94.5 in August, the fourth decline in a row. Analysts note weak labor markets erode confidence, though future outlook appears marginally improved amid uncertain economic recovery and geopolitical tension.
New York based Working Mother Magazine names the 100 companies treating working mothers best in its October issue. The top ten include Abbott Laboratories, American Express, Bank of America, Booz Allen Hamilton, Bristol-Myers Squibb, Colgate-Palmolive, Computer Associates, Fannie Mae, General Mills and IBM. Companies with Iowa operations cited include American Airlines, American Express, BP America, Carlson Companies, Deloitte & Touche, DuPont, Ernst & Young, General Mills, Marriott International, Merrill Lynch, New York Life Insurance, Procter & Gamble, Prudential Financial, Verizon Wireless and Wachovia.
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