Stock markets slump but end near breakeven amid bargain buying
Traders paused as third quarter results weigh on shares with the Dow off 2.96 to 10 628.36 and the Nasdaq down 32.80 to 3 656.30. Volume reached 1.39 billion shares as 21 of 46 Eastern Iowa issue movers gained while 22 fell. Supreme Beef Processors and Packers filed for Chapter 11, planning 300 layoffs and plant closures in Dallas and Ladonia amid disputes over federal salmonella inspections.
MENTIONED IN THIS ARTICLE
Dow
New York Stock Exchange
Iowa
Conexant
Fiserv
Wal-Mart
Procter & Gamble
Supreme Beef Processors and Packers
U.S
Dallas
Ladonia
Supreme Beef
Steve Spiritas
U.S. Agriculture Department
Coke expects 3Q worldwide sales up 4 percent
Coca-Cola Co projects global volume rising 4 percent in the third quarter, aiming toward a full-year increase of 5 to 6 percent. Jack Stahl cites improved international marketing and better conditions, with North American marketing aiding results late in the quarter. Shares gain 69 cents to $55.63 on the NYSE.
MENTIONED IN THIS ARTICLE
Coca-Cola Co
Coke
Jack Stahl
Stahl
New York Stock Exchange
Chrysler Division to Post Quarterly Loss Amid Incentives Push
DaimlerChrysler warned the Chrysler unit will report a quarterly loss due to high U.S. incentives and costs of launching new minivan and mid-size sedans. The group expects a 600 million euro loss this quarter after a 1 billion euro profit a year earlier. Overall 2000 operating profit should fall to about 7 billion euros from 10 billion.
MENTIONED IN THIS ARTICLE
DaimlerChrysler AG
Chrysler
U.S
Chrysler Group
DaimlerChrysler
Eye wash recall by H L Bouton for contamination risk
Massachusetts firm H L Bouton recalls Lavoptik Zee Medical and Rapid Clear eye wash products in multiple sizes due to possible contamination with a germ that can cause infections or blindness. No injuries reported. return or discard recalled items. Contact (508) 759-8000 for instructions.
MENTIONED IN THIS ARTICLE
Massachusetts
Special Solutions
Lavoptik
H.L. Bouton
OPEC Unity Under Test At Caracas Summit
OPEC leaders gather in Caracas for their first summit in 25 years amid price pressure. Officials such as Nigeria's Lukman and Venezuela’s Rodriguez warn against overproduction, while Chavez calls for lower global prices on goods.
MENTIONED IN THIS ARTICLE
Caracas
Venezuela
OPEC
Clinton
Organization of Petroleum Exporting Countries
Continental sues over Concorde crash tied to metal strip
Air France sues Continental Airlines in France after a Concorde crash that killed 109 aboard and four on the ground. Investigators cite a stray metal strip from a Continental DC-10 as a possible catalyst, while a German lawyer plans Texas court action for victims' families.
MENTIONED IN THIS ARTICLE
Christof Wellens
Moenchengladbach
Germany
Wellens
Continental Airlines
Air France
Houston
Continental
New York
John F. Kennedy
Charles de Gaulle
Paris
France
Newark
N.J
Glickman cites over 2 billion in aid for farmers hit by drought
Agriculture Secretary Dan Glickman told the House Agriculture Committee that more than 2 billion dollars in government aid will be needed from Congress to compensate farmers and ranchers for drought and weather losses this year. About 1.4 billion would cover crops and 800 million would aid livestock producers facing drought damage. He warned the amount could rise with the fall harvest and criticized private insurance firms for excessive profits.
MENTIONED IN THIS ARTICLE
Washington
Congress
Dan Glickman
Glickman
House Agriculture Committee
Nebraska
Kansas
Texas
Georgia
Agriculture Department
Visitors bureau urged to educate employees
Judy Randall of Randall Travel Marketing urged Cedar Rapids to sharpen its image by listening to travelers. The keynote at the Cedar Rapids Area Convention and Visitors Bureau meeting stressed promoting Amana Colonies Czech Village and related sites. She noted business travelers seek easy access to facilities and dining. locals should guide front line staff. The bureau reported tourism injected over $350 million in 1999, cutting the average resident tax bill by $317.
MENTIONED IN THIS ARTICLE
Randall
Amana
Brucemore
National
Czech & Slovak Museum
Balderston Farm
Cedar Rapids
Mike Dexter
Cedar Rapids Area
USDA Moves To Curb Anticompetitive Meat Industry Practices
USDA plans tighter regulation of livestock meatpacking and poultry to curb anticompetitive actions. Undersecretary Michael Dunn testified to the Senate about GAO findings and steps to boost lawyers and rapid response teams amid farmer concerns.
MENTIONED IN THIS ARTICLE
USDA
Des Moines
Department of Agriculture
Michael Dunn
Senate Judiciary Committee
Charles Grassley
Dunn
General Accounting Office
Congress
Department
Also Mentioned on This Page
Meat Packer
Djia
BizFacts
Solidarity
Rilwanu Lukman
Nigeria
Vienna
Ali Rodriguez
Rodriguez
Hugo Chavez
Asia
Senate
House
Visitors Bureau
Grassley
GAO
Lawrence Dykman
National Farmers Organization
Ames
The
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