Wall Street Banks On Stocks As Economy Worries Grow
Investors seek safety in blue chips while selling riskier tech shares amid economic fears after terrorist attacks. The Dow rose 114.03 to 8681.42, Nasdaq slid 3.33 to 1460.71 as volume reached 1.45 billion. Hy-Vee and Teamsters settle unionization dispute in Chariton. Titan Tire workers ratify three year contract ending a long strike.
MENTIONED IN THIS ARTICLE
New York Stock Exchange
Iowa
Toyota
Fiserv
Union Planters
Procter & Gamble
Nash Finch
Titan Tire Corp
United Steelworkers of America Local 164
Titan Tire
Federal National Labor Relations Board
Des Moines
Unemployment claims soar as terror attacks hit economy
The Labor Department reports new unemployment claims rose 58,000 to 450,000 for the week ending September 22, the highest since July 1992, with analysts warning the figure may rise further as layoffs and reduced demand spread.
MENTIONED IN THIS ARTICLE
Labor Department
Mortgage rates ease further as Freddie Mac reports drops
The 30 year fixed rate averaged 6.72 percent, down from 6.80 percent last week, with 15 year fixed at 6.23 percent vs 6.30 previously. One year adjustable rates averaged 5.45 percent, down from 5.58 percent. Points add about 1 percent of loan amounts.
MENTIONED IN THIS ARTICLE
Freddie Mac
Mixed outlook for fourth quarter hiring in Eastern Iowa
Cambridge Staffing Center survey of 136 firms in Dubuque Johnson Jones Linn and Scott counties shows 32 percent plan to hire in Q4 with 737 anticipated hires, up from Q2's 691. Service sector accounts for 46 percent of hires while manufacturing makes up 54 percent. wages fall for both sectors. Unionized firms project 83 percent of new hires, up from Q2.
MENTIONED IN THIS ARTICLE
Iowa
Cambridge
Cedar Rapids Bank and Trust Opens Its Doors
Cedar Rapids Bank and Trust Co. begins operations at 8 am in the Great America Building 625 First St. SE downtown Cedar Rapids after an August charter approval and a $5.2 million private stock placement. Founders Larry Helling Mitch McElree Dana Nichols and John Rodriguez bring prior banking experience to the new institution.
MENTIONED IN THIS ARTICLE
John Rodriguez
Cedar Rapids Bank and Trust Co
Shelly Streitner
Great America
First St. SE
Cedar Rapids
GreatAmerica
Cedar Rapids Bank and Trust
Dar Rapids
Larry Helling
Cedar Rapids Bank & Trust
Investor sees buying opportunities amid looming recovery
Dean Investment Associates CIO Thomas Giles says markets offer bargains as most recessions follow strong recoveries. He notes low rates and tame inflation, argues the economy is healthier than feared, and that the current downturn may end soon with a rebound pushed into early 2002 by recent terrorist attacks.
MENTIONED IN THIS ARTICLE
Giles
Cedar Rapids
First Iowa Investment Consulting
Dean
U.S
Dean Investments
Manhattan
Washington, D.C
AT&T and BellSouth in merger talks potential deal
Reports say AT&T Corp and BellSouth discuss a merger after AT&T spins off its broadband unit. Aimed at a “merger of equals,” the talks could advance as soon as next month but face regulatory scrutiny and skepticism from analysts. BellSouth remains a top local carrier with Verizon and SBC ahead.
MENTIONED IN THIS ARTICLE
New York
At&t Corp
BellSouth Corp
At&t
At&t Broadband
Business Week
Michael Armstrong
BellSouth
Drake Johnstone
Davenport & Co
Richmond
Verizon Inc
SBC Communications Inc
ACT to Break Ground on $40 Million Iowa City Building
ACT Inc will break ground at 9 30 a m for a 171000 square foot complex on its Dodge Street campus in Iowa City. The not for profit will use bonds via the city to trim costs, and the facility includes a conference center training center cafeteria and offices. It aims for a spring 2003 completion and adds 1100 jobs across the organization.
MENTIONED IN THIS ARTICLE
Marlene Lucas
Iowa City — Act Inc
Flad and Associates
Madison
Wis
McComas-Lacina Construction
ACT
Dodge Street
Iowa City
Town Crest
Ken Gullette
Lindquist
Tyler
Guard
Ernie Lehman
Richard Ferguson
Also Mentioned on This Page
Hy-Vee
Local 147
Teamsters Union
Chariton
Teamsters
National Labor Relations Board
Djia
C.R. Bank and Trust
BizFact
Netsurfer
Pat Guard
Marienel
Fyiowa
Welter
Blairs Ferry
Monticello
Dubuque
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