Quad-City Times from Davenport, Iowa • 10

USINESS A10 Saturday, November 20, 2004 Quad-City Times WWW.QCTIMES.COMBUSINESS Business Briefly Lee Enterprises Mowbray takes reins In Indiana Kevin Mowbray, a newspaper executive who got his start as an advertising sales representative in Kewanee, has been appointed publisher of The Times in Northwest Indiana. Mowbray, 43, will continue as a vice president of Lee AWARDS The Schebler Company, Bettendorf. Product: Food Industry Equipment. Awards: $80,000. Jobs created: 9.

Naturally Iowa, Clarinda. Product: Natural producer-owned dairy. Awards: $75,000. Jobs created: 9. Llncolnway Energy, Nevada.

Product: Ethanol plant. Awards: $400,000. Jobs created: 39. Chief Automotive, Council Bluffs. Product: Collision repair equipment.

Awards: $135,000. Jobs created: 15. The Vernon Company, Newton. Product: Advertising and graphics novelties. Awards: $200,000.

Jobs retained: 52. improvement after a sluggish period during mergers in that industry "From 1998 through 2003 we saw a lot of consolidation in the food processing industry. After the period of mergers, we are now seeing these consolidated companies ready to make capital expenditures," McClure said. "We've got a $1.5 million order right now that will put an entirely new product on the shelves in the next few months." McClure declined to disclose the customer for the new product, but said Schebler does work for ConAgra, Kraft, Hormel and other big players in food processing. Craig Cooper can be contacted at (563) 383-2360 or ccooperqctimes.com.

Japan and Europe," McClure said. "We have to offer better craftsmanship, better quality and better service to compete." But McClure said Schebler has been able to compete and with the help of the Center for Industrial Research and Service at Iowa State University, the company recently was able to submit the low bid by $100,000 for a $250,000 order of machinery "There are people out there who understand what we are trying to do and there is help available," McClure said. "We are able to compete with our foreign competitors at this point." McClure said the food processing portion of Schebler's business is showing signs of Community Economic Betterment Account Gerry McClure, CEO and partner in the group that owns Schebler, said the $80,000 will be part of an investment of more than $1 million to upgrade its present machinery. He said the upgrade will allow Schebler to expand into new markets and maintain a competitive position with foreign competition. By upgrading and expanding its processes, Schebler said it will retain nine jobs and add nine.

Average wage in the jobs is $18.44 per hour. "This is important to us as we look at the highly competitive environment our business is in. Our competition is primarily in Bettendorf company receives $80,000 infusion By Craig Cooper QUAD-CITY TIMES Two programs available from the Iowa Department of Economic Development will help Schebler Company move forward with expansion and updating of equipment. The Bettendorf-based company, a manufacturer of machinery systems and components for several industries, including food processing, will receive a total of $80,000 from the New Capital Investment Program and yJS'i wmm I ny Arts Festival of Trees. 't L.s.

i Cheryl McCullough checks inventory In the gift shop at Quad-City A wonder' Festival differently this year with a single checkout area instead of two separate stations, she said. She hopes customers like the open feel of the shop with areas wide enough for everyone, including people in wheelchairs, to get around. The shop has an alluring array of merchandise ranging from ornaments and sweatshirts to the new evergreen chandeliers, Thanksgiving display and "Silent Santa" pieces by Isabel Bloom LLC, she said. McCullough is taking time from her job to run the gift opens Santa's shoppers Enterprises, the Daven port-based newspaper company that owns The Times, in Minister Mowbray He was a veteran of eight newspaper operations in Lee before becoming vice president for sales and marketing in 2002. Under his leadership, the Bismarck Tribune in Bismarck, N.D., was honored in 2001 with Lee's top President's Award, Enterprise of the Year.

Mary Junck, Lee chairman and chief executive officer, praised Mowbray's leadership. "Lee's revenue growth is recognized as among the best in the industry, and Kevin has been the architect for much of our success," she said in a news release. Mowbray and his wife, Linda, have three daughters and a son. They live in Bet-tendorf. Training Classes focus on forklift safety Eastern Iowa Community College District will present three forklift safety classes on Dec.

8, one that includes a driving module for forklift operation. "Forklift Safety," from 8-10 a.m., and "Forklift Safety Supervisor," from 10-11 a.m.., will be held at the Scott Community College Environmental Education Center. "Forklift Safety Plus" will be 1-5 p.m. at the Blong Technology Center. The class includes training requirements for OSHA standard 29CFR 1910.178 as well as forklift operation.

Course numbers and prices are: Forklift Safety-126969A, $35; Forklift Safety Supervisor-126970A, $25; and Forklift Safety Plus-126971A, $75. To enroll, call the college registration center at (563) 0441-4100. RIVER WATCH The Mississippi River waterway traffic report at Lock Dam 15 (Quad-Cities) for Friday, Nov. 19. Data was collected between midnight and 8 p.m.

Total tonnage: 9,764 Upbound: 2,200 Downbound: 7,564 Tonnage by commodity group Grain: 1,428 Coal: 0 Petroleum: 0 Other: 8,336 Top commodities in tonnage Animal feed: 6,136 Building cement concrete: 2,200 Corn: 1,428 Bargespassengers Empty barges: 5 Loaded barges: 6 Paying passengers: 0 Vessels Commercial towboats: 4 Recreational: 2 Light commercial: 2 MARKETS AT A GLANCE Greenspan THE ASSOCIATED PRESS Stocks fell sharply Friday, with the Dow Jones Industrials losing more than 115 points, as Federal Reserve Chairman Alan Greenspan sounded a warning over the nation's spiraling trade deficit. Crude oil futures rose more than $2 per barrel, further pressuring stocks. Greenspan's unusually frank assessment of the trade imbalance and its effect on the U.S. ecorymy worried many in WQAD will sell advertising forWBQD By David Burke QUAD-CITY TIMES Following a nationwide trend of smaller TV stations turning over their sales efforts to larger entities, WQAD-TV in Moline announced Friday that it will begin selling advertising time for WBQD-TV, also in Moline. A low-power station, WBQD, Channel 26, signed on in July 2002 with programming from the UPN network.

"We're certainly here, we're someone that people in the market know," said Marion Megin-nis, the president and general manager of WQAD, which is owned by the New York Times Co. "It's not an adjunct of WQAD, but we are a familiar face." WBQD is one of four stations owned by Peoria, flL-based Four Seasons Broadcasting, a division of Los Angeles-based Venture Technologies Group. It is the company's third station to SALES I All Maytag pulls belt tighter DES MOINES (AP) Maytag seeking to further cut costs, has frozen the pay for salaried workers and is asking for volunteers to quit their jobs in exchange for a separation package. The strategy is intended to help offset rapidly rising prices for steel and petroleum-based resins used in manufacturing appliances. The company saw steel prices double in 2004 and remain at historic highs, said CEO Ralph Hake, in a conference with analysts on Friday Hake and company executives have high expectations for next year, predicting earnings of $1.50 to $1.60 per share.

Analysts surveyed by Thomson First Call have pegged earnings of $1.50 per share. As salaried employees were informed of the pay freeze and voluntary resignation plan, the company was offering top executives stock options worth millions of dollars. Documents filed with the U.S. Securities and Exchange Commission indicated Hake was granted options on 97,000 shares priced at $19.88. Nasdaq 11-19-04 9 Close 2,070.63 Net change Pet.

change Movers unsecured debt for secured notes. Nasdaq Novell down 54 cents at $6.59. Prudential cut its rating of the software maker to "underweight," citing increased competition from the Linux operating system. Nvidia up 10 cents at $1 8.96. The company agreed to a patent cross-licensing deal with Intel ppwiw.i.I'J kin Larry FisherQUAD-CITY TIMES Tinnius' returns Among the items for sale in the Festival of Trees gift shop is a new children's book written by Quad-City Times columnist Bill Wundram and illustrated by Times artist Eric Tucker.

"Finnius and the Christmas Surprise" is the second installment in the adventures of the little, lost elephant. It sells for $5.95 plus tax. spa," said Porter, who borrowed a lot of ideas from the Kohler Waters Spa in Wisconsin. "We built the spa around the idea of having spa private parties." He said they can accommodate groups of 30 and so far have seen interest from a few women's groups. Five Star's business hours are 9 a.m.

to 8 p.m., Monday through Friday, and 8 a.m. to 4 p.m. on Saturdays. Jennifer DeWitt can be contacted at (563) 383-2318 or jdewittqctimes.com. 500 T7 11-19-04 Net change Pet.

change Close 1,170.34 Big New York Stock Exchange Blockbuster down 37 cents at $8.05. The company's $770 million takeover bid of rival Hollywood Entertainment Corp. was in jeopardy after Movie Gallery Inc. countered Blockbuster's bid. Delta Air Lines down 37 cents at $6.60.

The company extended its debt exchange offer until next Tuesday, hoping to get more bond holders to trade-in a (Ok) 10-day sack for By Mary Louise Speer QUAD-CITY TIMES Cheryl McCullough combined her business background and love of shopping to create this year's gift shop for Quad-City Arts Festival of Trees. Setting up a temporary business, even something as fun as the gift shop, requires many hours of preparation, she said. This is her first year as Gift Shop chairman. "We're a 10-day wonder and my goal is to sell all of the stock and not have to pack anything up," she said. The gift shop is set up a bit Davenport By Jennifer DeWitt QUAD-CITY TIMES Two years after opening its doors, growing pains pushed Five Star Salon to take over the second floor of its Village of East Davenport building.

Located at 1020 Mound Five Star has quadrupled the space it devotes to spa services with a complete renovation of the second floor. The expansion, which adds 1,700 square feet to the business, now gives Five Star six new spa treatment rooms. salon, spa unveils expansion shop. She is an administrative assistant at Governor's restaurants and owner Dave Koenig is her biggest supporter, she said. She has worked for Koenig for 14 years and has a background in clothing manufacturing industry.

Successfully putting together a gift shop calls for different sets of skills, she said. She shopped for stock last summer at the Chicago Merchandise Mart using a budget allotted her by the Festival's finance committee. She looked for SHOP I All tants. It now employs 26 people, up from three employees two years ago. Porter said with the added space, Five Star will offers additional therapy services, including a Spa Twogether for couples, hydrotherapy, a water treatment bed, a pedicure room and a relaxation room with a fireplace.

Five Star also now has private locker rooms and a winebeverage room. Several of the rooms offer river views. "We have really captured the true spa feeling; it's like a resort Dow Jones Industrial Nov. 19, 2004 Close: 10,456.91 10800 10700 10600 10500 10400 10300 10200 10100 10000 9900 9800 9700 9600 9500 9400 0300 9200 9100 9000 8900 Oct. 28 8800 MTWTF GANNETT GRAPHIC NETWORK Originally, the spa occupied three small rooms downstairs, said co-owner Jeffrey Porter.

"We needed the room for our growing hair salon and we've had a terrific spa response," said Porter, who owns the salon with David Kremer. "We were running into each other and we didn't want our spa guests to have to walk through salon." With the almost $100,000 expansion, Five Star added six new employees to its staff, including another massage therapist and five salon assis that'll help cut the trade deficit. But nonetheless, it was unusual for him to speak out on it like that, and it's having an effect." The Dow Jones industrial average fell 115.64, or 1.09 percent, to 10,456.91. It was the biggest single-session point drop for the Dow since Sept. 22.

Broader stock indicators also finished substantially lower. The Standard Poor's 500 index was down 13.21, or 1.12 percent, MARKETS I All remarks trigger slide vestors. The Fed chairman said the economy was resilient thus far, but foreign investment could wane should the deficits continue to build and the U.S. dollar remain weak. "Certainly that has investors worried, though I'm not entirely sure why Greenspan chose to make a case out of this," said Lincoln Anderson, chief investment officer at LPL Financial Services in Boston.

"The lower dollar will eventually force importers to raise prices, and.