Skip to main content
The largest online newspaper archive
A Publisher Extra® Newspaper

The Dispatch from Moline, Illinois • 21

Publication:
The Dispatchi
Location:
Moline, Illinois
Issue Date:
Page:
21
Extracted Article Text (OCR)

Tliuiulay, Mvwvy lJ, 2K4 Vk Ihulih aiwl Tlw Kuk Wand Aiyu C7 Jobs Money Stotkwatth Dilbert GOOD, NOW GET READY TO SNAP IT FORWARD. WELCOME TO DOGBERTS SCHOOL FOR. WORTHLESS SYCOPHANTS. OUR FIRST LESSON IS "HEAD NODDING FOR Disappointing const met ion report sends slocks lower 233.91 0.64 Pending plant sale adds to Galesburg's economic jitters Stocks of local interest CoaipMiy Vol Uit Ch( symbol (In 100t AMR AMR 37062 13 68 APACC APAC 168 2 97 05 43838 20 09 11 AlbertM AB3 8727 23.7S Alcoa AA 48371 37 79 04 Altrla MO 30303 65.12 ApplebwtAPPB 4214 38.12 BP PLC BP 27950 47.90 Bundag BDQ 655 46 93 65 BankOn ONE 24164 52 78 29 CNHGblrtCNH 1525 1863 Caiys CASY 670 1675 33 Caterpillr CAT 15342 78 91 -61 CocaCI KO 35840 61 24 10 ColtCp COT 745 28 66 23 DaimlrC DCX 4788 46 89 Deer, DE 17018 6665 Disney DIS 115614 26.71 Exalon EXC 13563 66 88 91 Flat FIA 133 7.91 .08 FMidBc FMBI 612 32.55 FordM 57850 14.39 GenEloc GE 151858 32.75 QnMotr CM 49705 48 69 HanJI JHI 91 21.34 Heinz HNZ 7500 36.43 .02 HomeDp HD 61149 35.89 Honlnd HNI 1079 38.65 Hormel HRL 2354 27.68 Intel INTC 410939 30.60 IBM IBM 47694 98.42 InlstBak IBC 2981 15.00 Ipscog IPS 65 18.83 IsleCaprl ISLE 805 21.11 Kmart KMRT 6345 30.62 .72 Kohls KSS 30821 4993 .45 LeeEnt LEE 725 45.90 .25 LowesCosLOW 29785 57.47 Maytag MYQ 4790 27.95 McDnlds MCD 42445 27.05 .05 Microsoft MSFT 489917 26.77 NallCity NCC 16293 34.77 .21 Navistar NAV 3896 48.50 NortrpQ NOC 8199 103.78 12 month high 12 month low 236.44 136.05 A Mock imku to 21 publicly traded companies (hat titfv tubttanlial pretence in the Quad Cities economy. Weilnesd ay Dow industrials 10672.0 OldReps ORI Penney JCP PepsiCo PEP Pfiiw PFE ProctQ PG OCR HWg OCRH Ouanex NX OwestCm RadioShk RSH SBC Com SBC Sears ShopKo SKO SprntFON FON Target TGT Thomlnd Til 3MCos MMM ToyRU TOY Tribune TRB Tyson TSN UPSB UPS-USBancrpUSB WalMart WMT Walgrn WAG WellsFrgo WFC Xerox XRX 9851 24.09 .04 16600 2822 44953 5127 .27 121878 37.41 28294 10295 16 28 84 314 48 68 95599 4.51 9230 33.31 171140 24.45 21782 45 86 .09 2121 14.75 .30 18250 18.62 .01 46124 42.29 .48 432 3201 22650 7966 25216 15.35 .02 6318 51.75 25107 16.12 10286 71.19 48593 27.50 78357 57.20 22537 34 69 41860 56.95 28615 15.26 GALESBURG, 111.

(AP) -Galesburg officials say they're hoping for a silver lining as another economic cloud settles over a city just months away from losing its biggest employer and 1,600 jobs. About 375 more factory jobs are in limbo as federal regulators review an Australian company's $204 million proposal to buy Butler Manufacturing, a metal building maker whose worldwide facilities include a plant in Galesburg. Trade regulations prohibit BlueScope Steel Limited from saying much about its plans until the deal is approved, giving Galesburg about three months to wonder whether the plant will survive. City and economic officials said news of the Butler sale has further rattled nerves in a city that has been reeling since Iowa-based Maytag announced more than a year ago it would close its factory and move production to Mexico by the end of 2004. "I guess there's always the fear that it could close and you have to at least anticipate that could happen," city manager Gary Key indicators Wednesday Indicator Close Change Bonds Stocks 10YRMUWNOTE 105-11 '01 Jdvanced 1284 2414 Declined 1984 892 Commodities Unchanged" 172 150 CORN 2791 "'-4 1 Total issues 3440 3456 LIGHT SWEET CRUDE35.45 .26 fioHi0w 264 366 PLATINUM 658.80 -2 30 New Lows 3 3 GOLD 412.30 RySE Composite 1 6719.1 -51.

SILVER 669.7 r6 NASDAQ composite 2076.47 SUGAR-WORLD 1 1 5.60 .02 KJEXcomposite'1 1244.43 WHEAT 364V -1W 541500 1151.82 5 2 SOYBEANS 854V4 LVgeCepGroMh 3084.01 -IMj CATTLE 77.15 .68 MultiCapValue 4188.00 17 5 HOGS-Lean 5852 ImoiiCapCore 393.98 I.9I US TREASURY BONDS! 12-26 02 IBM loses another round in NEW YORK (AP) A drop in housing starts and a rally in the US. dollar on currency markets sent stocks lower Wednesday as the news gave investors an incentive to collect profits. Rough winter weather was to blame for the 7.9 percent drop in residential building construction last month from December levels, the largest tumble in a year. However, the pace of residential construction in January was up 4.1 percent from the same month a year ago, giving investors a little good news to go with the bad. In addition, gains by the dollar, coming off all-time lows against the euro, sank large-cap stocks that had benefited from the low dollar in overseas sales.

"Large-caps will take the hit for the dollar rising," said Michael Sheldon, chief market strategist at Spencer Clarke LLC. "That's sparked the selling you're seeing The Dow Jones industrial average fell 42.89, or 0.40 percent, to 10,671.99. Broader stock indicators also fell. The Standard Poor's 500 index was down 5.17, or 0.45 percent, at 1,151.82, and the Nasdaq composite index lost 3.88, or 0.2 percent, to 2,076.47. The disappointing construction data did little to convince investors that the economic recovery was stable.

"There's still a lot of uncertainty," said Bill Groenveld, head trader for vFinance Investments. Technology stocks fended off some selling on the strength of Rambus Inc. after a federal court dismissed antitrust charges against the computer chip maker. Rambus shot up $9.09, or 35 percent, to $34.93. Wireless stocks held investors' attention after the $41 billion merger deal between Wireless Services Inc.

and Cingular Wireless. Nextel Communications, considered another prime takeover target in the wireless industry, fell 15 cents to $28.62. Wireless slipped 6 cents to $13.72. The Walt Disney Co. fell 19 cents to $26.71 one day after rejecting Comcast $54 billion takeover bid.

Disney also announced it had acquired the rights to the Muppets characters from The Jim Henson Co. Metro-Goldwyn-Mayer Inc. posted better-than-expected earnings of 25 cents per share. The film and television producer edged up 30 cents to $17.42. Hamburger chain Jack in the Box Inc.

rose $1.45 to $25.85 after posting a 26 percent decline in profits. The company beat Wall Street expectations by 5 cents per share. LaBranche Co. rose 18 cents to $11.08 and Van Der Moolen Holdings NV climbed 11 cents to $9.41. They confirmed they were among a number of New York Stock Exchange specialist firms to reach a $240 million settlement with the Securities and Exchange Commission for mishandling stocks and illegally skimming profits.

Area Businesses! to be Sold Financing is available. Interior Design Decorating Co Coffee Specially, Sandwich, Shop Established Hair Salon Mi traffic area Screen Printing, Vinyl Graphics Co Mail Order Discount Drug Co. Established Franchise-low hours Bakery Rtstanrant real estate Franchiwd Motel 40 units, 4 yrs old. Several profitable Pizza Stores available in good locations. Steel Fabrication Mfg Co.

(2) Established Carpel Cleaning Business Christian Book Slorc retiring alter 19 good years. Financing available. Boutique, gift flower shop for sale after 20 successful years. Home-based Franchise Business operated since 1990. Many profitable Restaurants Bars Hardware Store -Great location, good profit history, owner retiring.

75 businesses and franchises, call Sunbelt Business Brokers 309-764-1955 Most active NYSE AMEX Vol Last Chg 63311313.72 59133311.80 3.00 5655897.26 ATTWils Elan ElPasoCp NortelNw Lucent SBC Com GenElec SpmtPCS LibtyMA Tycolntl Nasd100Tr SPDR SemiHTr WheatR IShJapan 5563448.16 4856034.20 17114024 45 15185832.75 BemaGold DJIA Diam CdnSEn LwnsGt iShRs2000 1413739.85 13953811.21 13254028 80 stay, but also would be a good location if the company decided to expand its new operation, Voyles said the plant once had 900 workers, and BlueScope could draw from a trained work force as Maytag shutters the Galesburg plant. The Butler plant had more than r00 workers four years ago, but employment dipped as the nation's struggling economy cut into demand for pre-engineered metal buildings, said Larry Miller, chief financial officer for Butler, based in Kansas City, Mo. BlueScope, the leading steel company in Australia and New Zealand, wants to extend its market by acquiring Butler, which has about a dozen plants in the U.S., China and Mexico, Miller said. "But, that said, 1 don't know any of their specific plans for any of our plants or our people," he said. BlueScope, which manufactures steel products for construction, the auto industry and food and beverage containers, will evaluate Butler's operation as it awaits regulatory approval, company spokeswoman Sally Behringer said.

pension case of several companies that adopted cash balance plans in the '90s. Traditional pension plans reward workers for sticking with a company, awarding them more retirement benefits during their last years of service. In contrast, cash balance plans give workers individual "accounts" that workers can track over time. The advantage is that workers can take the money with them if they leave for another job, which can make cash balance plans more appealing to younger workers. Opponents of the cash balance plans say that if they are instituted when experienced workers are near retirement age, that essentially changes the rules late in the game, depriving the employees of anticipated gains.

IBM fell 95 cents to $98.42 in trading Wednesday on the New York Stock Exchange. Choice steers: 1000-1300 lbs $77 to $84 select steers $73toS77 Choice heifers: 1000-1300 lbs. $77 to $83 50 select heifers: $72 to $77 Holstem steers 1200-1600 lbs $68 to $76 50. Butcher cows, commercial utility: $45 to $54.50: canners cutters: $40 to $45. Full and thin cows: $33 to $40.

Butcher bulls: $51 to $66 50. FEEDER SALE Volume 90 cattle Trend: Steady on all classes Steer calves: 300-550 lbs. $83 to $104 Heifer carves: 300-550 lbs $81 to $98 Steer yearlings: 550-850 lbs $77 to $89. Heifer yearlings: 550-800 lbs. $73 to $88.

business corporations: Teacher's Pet Christian Summer Cm Care, Your Home or Mine, (563) 324-3039 The Body Shop 4 Car Sales (309) 796-2335 The Car Lot The Xs Most Reasonable Prices (. 755-3117 The Mustard Seed, A Christian Family Gifts and Bookstore The Oaks. A Ministry for Smaje-Paterrt Women (563) 285-4004 Tote-a-iy Purses by Lyn. Tapestry. Etc, (563) 650-6734 Twin Bndges Truck City, Inc.

WAXR FM 38.1. Amencan Family Radio Wedding Dance Etc. (563) 445-1309 Wells Fargo financial Illinois, Inc. Wnght Home Improvement (309) 314-2405 Speaker-Leo Schreven 'I guess there's always the fear that it could close and you have to at least anticipate that could Gary Goddard, Galesburg city manager Goddard said. "But from everything we have heard it sounds more optimistic than it does pessimistic.

I don't think they are buying Butler to close Butler." "I personally remain very optimistic," Goddard said. "I'm looking forward to the international flavor of it all." Eric Voyles, president and CEO of the Galesburg Regional Economic Development Association, said his group is seeking a meeting with BlueScope to tout Galesburg's advantages, including its highway and rail access and proximity to Chicago, St. Louis and other major markets. He said his group will try to convince BlueScope that the Galesburg plant should not only Murphy wrote that IBM had no justification for claiming it was blindsided by his decision. "The prohibition against age discrimination existed long before the appearance of cash balance plans," Murphy wrote.

"All that has changed is IBM's clever, but ineffectual, response to law that it finds too restrictive for its business model." Murphy has yet to decide the damages IBM should pay or how the figure will be calculated. Under one formula suggested by the plaintiffs, IBM has estimated the payments would total $6 billion. IBM spokeswoman Kendra Collins said Wednesday that the company does not believe it should pay anything. She said IBM expects to win on appeal. "We continue to believe that our plan is legal," Collins said.

The case is being closely watched because IBM was one kg markets Rock Island grain Posted county price Com Soybeans Wheat Oats Peoria live hogs Prices quoted by Lohman Futures Cash live hogs Galesburg livestock 2 69 838 355 1 47 $40 Tuesday, Feb. 17 FED CATTLE Volume: 300 cattle Trend: $1 to $2 higher on ted cattle: Steady on butcher cows and bulls. Healthy Solutions, Dried Juice Packed with MunlCn Cjiiwt rjimnanu RImki Whh I 736-1199 IIWIUW WV.1IUU wu.i'yui.;. m.w Imani1 Dancers Studio for Cultural Arts (563) 326-3352 Israel V. Fernando.

Jay Richter. P.E.. C.E.M., Registered Professional Engineer Jurak Classic We Body Tonic, Karen Framch, Ambassador of Health (309)755-3252 Bedding Mission Wellness, 504 Cody Road, LeClaire, Iowa (563) 2S9-2749 Runge Mortuary Crematory Scottrade, Inc. Shaklee. Marvfrv'Karen Roebuck.

Independent Distributors (563) 386-5273 StFrances Veterinary Hospital Staples, The Office Superstore (309) 764-3419 Subway of East Moline Tahitan Noni Intentional. Nancy Dean, Independent Distributor (563) 235-4004 Leading gainers Wednesday NEW YORK (AP) A federal judge has ruled that IBM Corp. owes back payments possibly worth billions of dollars to 140,000 older employees who were harmed when the technology giant converted to a new kind of pension plan in the 1990s. The plaintiffs in the case want IBM to make up for what they lost after the company adopted a "cash balance" pension plan, which pays workers a lump sum when they leave the company. U.S.

District Judge G. Patrick Murphy of Illinois had ruled last July that the plan amounted to age discrimination because it unfairly penalized older employees. IBM argued that it should not be forced to make retroactive payments because it could not have foreseen that Murphy would declare the cash balance plan illegal. But in a ruling dated Feb. 12, Davenport grain Prices quoted by Harvest States.

Com Nearby New Crop Soybeans Nearby New Crop Prices quoted by River Gulf Grain Corn Nearby New Crop Soybeans Nearby New Crop 273 278 840 856 273 278 Out 855 NYSE AMEX Vol Last Chg 59133311.80 3.00 3700 2.71 .52 29151 13.82 249 2136 4.00 .67 11245 10.80 1.64 737 9.16 1.06 71124 30.79 2.59 667 84.65 6.74 992 31.09 2.44 7954 41.61 3.13 Elan BarryRGh Owenslll WHX GlobPwr DescSA AberFltc TitanMtt IntAlu Amerigrp Congolm MauiLnd MorgnF HearUSA EnvirTec' DanlHd Analex EZEM Wellco 8rcokeCpn49 339 109 32 9892 488 321 1 307 1638 49 shares Wednesday Nasdaq Vol Last Chg Vol Last Chg 67926337.55 .11 Microsoft JDS Union 48991726.77 4739515.08 4475334.60 41093930 60 38891724.09 38291814,06 3572915.82 34285353.23 33765534 93 33432122.31 -265 30 .03 8.97 9.09 37 277128115.67 98008 42.72 .20 71666 2.96 46100 9.66 42429 3.55 39555 107.19 32 32500 2.28 30 30373 6.08 .33 DobsonCm Intel Cisco Oracle SunMicro Biogenldc Rambus ApldMatl 25559 117.83 Nasdaq Vol Last Chg Vol Last Chg 1113 4.90 1.52 33765534.93 9 09 6277 2.62 .60 10627051.4610.16 18304 20 60 3.90 3574 6.97 1 26 7782 13.50 2.40 115 7.11 1.21 34285353.23 8 97 3523 15.46 2.42 2.25 .30 39.25 3.75 2.20 20 JB Oxford Rambus CritPath rs Netease NvtlWrts TOR Mln IndSrvAm GranCF un Biogenldc Novate! 2.84 9.95 7.61 3.83 .25 .86 .61 28 21.10 1.47 12.36 .86 21.74 1.49 mutual funds Change Bid YTD 39 03 6.1 47.31 5.4 23.11 19 45.34 22 23.78 1.3 29.75 29 37.57 3.9 41,63 5.3 59.54 2.2 30.76 2.6 14.02 3.7 11.86 4.8 15.53 32 4229 2.5 20.11 5.5 21.66 3.2 54.71 6.2 34.08 3.9 Harbor Funds: Intl Hartford HLS IA CapApp Hartford HLS IA Advisers Hartford HLS I A Stock Janus Fund Janus Grlnc Janus Twenty Janus WrtdW Legg Mason: Fd ValTr .05 .15 .05 .13 .15 .10 .25 Longleat Partners: Partners Lord Abbett AffilA MFS Funds MIGA MFS Funds TotRA Morgan Stanley DtvGlB MorganStanley Inst: IntlEq Mutual Series: SharesZ Oppenheimer GlobA Oppenheimer A MnStFdA PIMCO Admin PIMS: TotRtAd 1084 PIMCO Insll PIMS: LowDu 10.29 1.5 .7 PIMCO Instl PIMS: Totflt PIMCO Funds TotRW Price Funds: BIChip Price Funds: Eqlnc Price Funds: Growth Price Funds. MidCap Putnam Funds GrlnAp Putnam Funds VoyA Selected Funds: AmSh Van Kamp Funds CmstA Vanguard Admiral: 500Adml Vanguard Admiral. 10 84 10 84 29.56 25.13 25.27 44.94 18.40 16.41 34.83 16 81 106.58 27.10 23.37 27 95 69.44 10.54 639 126 57 17.15 17.18 13 86 5647 17.87 1.5. 1.4 3.9 4.0 3.9 4.8 4.0 3.5 5.0 5.4 38 4.3 3.6 100 58 1.0 1.1 5.0 6.3 3.4 1.7 65 3.9 Vanguard Fds: AssetA Vanguard Fds: CapOpp Vanguard Fds: Explr Vanguard Fds: GNMA Vanguard Fds: HYCorp Vanguard Fds: HlmCre Vanguard Fds: tnfJGr Vanguard Fds: LifeMod Vanguard Fds: Mulnt Vanguard Fds: Prmcp Vanguard Fds STAR .26 01 22 MULL PiMHEl Seminar A Bible-based Professional Seminar for Physical, Mental, Spiritual, Emotional and Financial Success Begini i Friday, February 20 930p.m. Continues through Monday, February 23 Sponsored in part by the following institutions and local Largest Change AIM Investments Const 1 Amer Century Inv: Ultra 1 Amer Express NwD American Funds AmcpA p- 03 American Funds AMutIA p- 08 American Funds BalA American Funds BondA American Funds CaplBA American Funds CapWGA American Funds EupacA American Funds FdlnvA American Funds GwthA American Funds HI TrA American Funds IncoA American Funds ICAA American Funds NEcoA American Funds PerA American Funds SmCpA .02 American Funds WshA Artisan Funds: Intl Clipper Columbia Class AcornZ Davis Funds NYVen A Balanced Income DodgeiCox: Stock Fidelity Advisor EqGrT Fidelity Freedom: FF2010 Fidelity Freedom: FF2020 Fidelity Invest: A Mgr Fidelity Invest: Balanc Fidelity Invest: BlueChGr 19 Fidelity Invest: Contra 34 Fidelity Invest: Divlntl Fidelity Invest: DivGth 1 9 Fidelity Invest: Eq Inc 24 Fidelity Invest: EQII Fidelity Invest: Fidel Fidelity Invest: GroCo 1 2 Fidelity Invest: Grotnc 20 Fidelity Invest: IntBd Fidelity Invest: LowPr Fidelity Invest; Magelln Bid 22.41 27.82 24 23 17.55 25.02 17.89 13.66 49.15 31.55 32.10 29 90 25.79 12.41 17.55 29.76 19 82 25.65 28.63 29.77 20.65 8881 23 99 28 93 76.37 13.07 YTD 4.2 44 1.9 4.2 2.6 35 1.7 33 5.6 6.3 3.6 5.1 1.5 27 32 5.6 4.7 6.9 3.4 9.2 .7 6.3 5.1 4.6 1.2 120.71 6.1 47.06 5.7 13.35 13.46 16.19 17.44 41.17 51.06 25.53 28 40 51.47 23.25 29 00 52.27 36.75 10.75 36 89 2.5 3.4 2.7 4.1 39 3 5 5.8 4.0 3.5 2.8 3.3 44 3.1 1.3 5.5 101 02 3.4 22.57 46 Fidelity Invest: MidCap Fidelity Invest: OTC 21 Fidelity Invest: Purttn 07 Fidelity Invest: Value 27 Fidelity Spartan: Eqkhc Fidelity Spartan: 5O0lnr FrankTemp Fmk A.

CaTTFA 01 FrankTemp Fmk IncomA FrankTemp Fmk USGovA Temp ForgnA -OS FrankTamp Temp GnunA FrankTemp Temp A. iVorldA 09 Harbor Funds: CapAp 34.30 19.03 65 43 40.90 79 51 732 1224 2.43 31.72 6.77 1125 2186 18 07 27 30 5.6 3.0 54 3.8 38 1.9 20 '19 50 12 57 58 7.1 3.7 I Atotced Dermatology, Skin Cancer, and Laser Center P'UTBI InnliinrK M1 991.1(17? PITH 111 nllflllVW (JUk ULtl IWI Bettendorf Office Products Bullseye Direct Mail Charles F. Eiles, Attorney at Law ClB Dance Academy Cornerstone Wellness Center Dan's Automotive, Inc. Dennis Malik, D.C. Of, Earl G.

Gloeckner, M.D,. family Eye Care Dr. Jeffrey Bassman, DDS Duck Creek Tire Service. Inc. (563) 355-1464 Family Christian Stores, Davenport Family Christian Stores.

Moline Financial Freedom Society, Karen Bsfcel General Car and Truck Leasing System, Inc. Greatest Grains Green Chevrolet Chrysler FREE ADMISSION For more information, call 563-391-6355 Childcare ages 4-9 Vanguard Fds: STCorp Vanguard Fds: USGro Vanguard Fds: Weltsly Vanguard Fds: Weiltti Vanguard Fds: Wndsr Vanguard Fds: WndsH Vanguard ktx Fds: 500 Vanguard ktx Fds: Europe Vanguard kh Fds: Growth Vanguard tdx Fds: TotBnd Vanguard kfc Fds: TotStk Vanguard Insll Fds: Instldx Vanguard Insll Fds: InsPI Vanguard Instl Fds: TBtst Vanguard Instl Fds. TSInst .01 -23 1083 1589 8 4.8 21.20 1.4 2955 26 1692 4.1 27.84 5.1 106 57 3 8 2329 5.9 25.96 4.2 10 41 1.6 27.10 43 105 66 3 8 10566 36 1041 16 27.11 43 Wili I IBB.

Get access to Newspapers.com

  • The largest online newspaper archive
  • 300+ newspapers from the 1700's - 2000's
  • Millions of additional pages added every month

Publisher Extra® Newspapers

  • Exclusive licensed content from premium publishers like the The Dispatch
  • Archives through last month
  • Continually updated

About The Dispatch Archive

Pages Available:
1,403,567
Years Available:
1894-2024