05/15/2008 12:00 AM More U.S. homeowners fell behind on mortgage payments last month, driving the number of homes facing foreclosure up 65 percent versus the same month last year and contributing to a deepening slide in home values, a research company said Tuesday.
05/15/2008 12:00 AM Despite a $59 million loss and a slump in sales in the first quarter, Macy’s Inc. on Wednesday posted results that beat Wall Street expectations because of what analysts said were tight controls on expenses and inventories.
The loss resulted from lower sales and the cost of consolidating business units, Macy’s said.
05/15/2008 12:00 AM A Texas appeals court on Wednesday overturned a multimillion-dollar verdict against Merck & Co. in one of the few trials it lost over its withdrawn painkiller Vioxx.
A jury in Rio Grande City, Texas, in April 2006 awarded $32 million to the widow of 71-year-old Leonel Garza, a short-term Vioxx user who died of a heart attack in 2001. That award — $7 million for compensatory damages and $25 million for punitive damages — later was cut to about $7.75 million under Texas law limiting damages.
05/15/2008 12:00 AM The Dow rose 66.20, or 0.51 percent, to 12,898.38. A late sell-off in technology stocks caused the market to pare its gains, with the blue chip index at times up more than 150 points.
05/14/2008 12:00 AM Hewlett-Packard Co. is buying Electronic Data Systems Corp. for $13.2 billion in a deal that will create the second largest technology services provider behind IBM.
Under the terms announced Tuesday, Palo Alto-based HP will pay $25 per share in cash for EDS, which pioneered the concept of running computer systems and providing other high-tech help for large companies and government agencies.
05/14/2008 12:00 AM Solid first-quarter profits from discounters Wal-Mart and TJX show that more Americans are hunting for bargains as they struggle to cover their monthly credit card payments, put food on the table and gas in the family car.
05/14/2008 12:00 AM The Dow Jones industrial average fell 44.13, or 0.34 percent, to 12,832.18, having soared 130 points on Monday.
Broader indexes closed mixed. The Standard & Poor’s 500 index fell 0.54, or 0.04 percent, to 1,403.04, and the Nasdaq composite index rose 6.63, or 0.27 percent, to 2,495.12.
05/10/2008 12:00 AM Aaron McCardle recently won the Farm Bureau Financial Services New Career Challenge. The New Career Challenge recognizes agents for outstanding life insurance production during their first 12 months under contract. McCardle has been an agent with Nodak Mutual Insurance Company in Jamestown since March 2007.
05/10/2008 12:00 AM Bank Forward has an-nounced plans for its grand opening celebration in Grand Forks on May 20, 21 and 22. Bank Forward is located at 1301 Ralph Engelstad Arena Drive and at 3350 South Columbia Road, Suite A. The events are free, open to the public and will take place at the listed bank location.
05/10/2008 12:00 AM Midwest Business Systems recently acquired Heer Electronics.
Midwest Business Systems has been servicing the Jamestown area for more than 20 years with a vision of building a company that is technology focused, action oriented and client driven, said Marty Presler, Midwest president and CEO. Heer Electronics also has been serving the Jamestown area for a long time, with a strong conviction for customer service and supporting client needs, he said.
05/10/2008 12:00 AM Entrepreneurs considering franchising can now access a new online course from the U.S. Small Business Administration and FranNet to help them navigate the competitive franchise industry.
05/10/2008 12:00 AM Bobcat Co.’s new worldwide distribution center in Minnesota will not derail plans for the company’s involvement in a proposed $20 million public-funded shipping facility in Bismarck, city and company officials say.
05/10/2008 12:00 AM Uranium found in groundwater in western North Dakota is naturally occurring and not from mining for the radioactive element, a state health official says.
Some Billings County residents questioned the quality of their drinking water at a meeting last week in Belfield regarding new rules for uranium mining in the state.
05/10/2008 12:00 AM Circuit City Stores Inc. on Friday gave in to pressure from activist shareholders, essentially putting itself up for sale and agreeing to nominate dissident directors to its board.
05/10/2008 12:00 AM Citigroup Inc.’s new chief executive, Vikram Pandit, plans to stick with a global banking model after months of intense review — but only after shrinking the company by about one-fifth first.
The three-year game plan, revealed Friday, includes getting rid of more businesses, mortgages, real-estate operations and jobs.
05/10/2008 12:00 AM The Dow fell 120.90, or 0.94 percent, to 12,745.88.
Broader stock indicators were also lower a day after the stock market notched a modest advance. The Standard & Poor’s 500 index fell 9.40, or 0.67 percent, to 1,388.28, and the Nasdaq composite index fell 5.72, or 0.23 percent, to 2,445.52.
05/09/2008 12:00 AM General Motors Corp. has agreed to kick in up to $200 million to help bring an end to a bitter 10-week strike at parts supplier American Axle and Manufacturing Holdings Inc.
05/09/2008 12:00 AM Consumer electronics chain Best Buy Co. Inc. is establishing a foothold in the European market with a $2.1 billion investment in the continent’s largest cell phone retailer, allowing the American company to roll out its trademark big box stores in Europe, the companies said Thursday.
05/09/2008 12:00 AM The Dow rose 52.43, or 0.41 percent, to 12,866.78.
Broader stock indicators turned higher after fluctuating at times during the session. The Standard & Poor’s 500 index rose 5.11, or 0.37 percent, to 1,397.68, and the Nasdaq composite index rose 12.75, or 0.52 percent, to 2,451.24.
05/08/2008 12:00 AM Clearwire and Sprint Nextel said Wednesday they will combine their wireless broadband units to create a $14.55 billion communications company.
05/08/2008 12:00 AM Toyota Motor Corp., the world’s second-biggest automaker by annual vehicle sales, is raising its prices on some U.S. models later this month amid increased worries about its profit growth in the American market.
05/08/2008 12:00 AM The Dow fell 206.48, or 1.59 percent, to 12,814.35, after fluctuating early in the session.
Broader stock indicators also declined. The S&P 500 fell 25.69, or 1.81 percent, to 1,392.57, and the Nasdaq composite index fell 44.82, or 1.80 percent, to 2,438.49.
05/08/2008 12:00 AM Rupert Murdoch’s News Corp. reported Wednesday that its earnings more than tripled in the latest quarter on a one-time gain of $1.7 billion from a stock exchange with Liberty Media Corp.
The media conglomerate, which owns Twentieth Century Fox, Fox News Channel and Dow Jones & Co., publisher of The Wall Street Journal, earned $2.69 billion or 91 cents per share, versus $871 million or 27 cents per share a year ago.
05/07/2008 12:00 AM The steeper slide in home prices is accelerating the pace of foreclosures, Fannie Mae said Tuesday as it outlined plans for shoring up its finances following a $2.2 billion first quarter loss.
While the nation’s largest buyer of home loans will slice its dividend and attempt to raise $6 billion, mostly by issuing new shares, federal regulators loosened Fannie’s capital requirements as the government looks for ways to bolster the housing market.
05/07/2008 12:00 AM Strong growth in its media networks, film studios and theme parks lifted The Walt Disney Co.’s second-quarter net profit 22 percent from a year ago, the company said Tuesday.
05/07/2008 12:00 AM Wachovia Corp. said Tuesday it is nearly doubling previously reported losses for the first quarter after reviewing its portfolio of bank-owned life insurance.
05/07/2008 12:00 AM The Dow Jones industrial average rose 51.29, or 0.40 percent, to 13,020.83.
Broader stock indicators also rebounded. The Standard & Poor’s 500 index rose 10.77, or 0.77 percent, to 1,418.26, and the Nasdaq composite index rose 19.19, or 0.78 percent, to 2,483.31.
05/06/2008 12:00 AM Yahoo Inc.’s stock took a beating Monday after Microsoft Corp. withdrew its $47.5 billion takeover bid, but the punishment wasn’t as severe as many analysts anticipated.
Although Microsoft has publicly indicated it will focus on measures besides buying Yahoo in its bid to make its Internet division profitable, several analysts predicted the software maker will revive its bid in the summer or fall if Yahoo can’t snap out of a two-year funk that exposed it to an unwanted takeover in the first place.
05/06/2008 12:00 AM Shareholders of health and disability insurer Aflac approved almost $15 million in compensation for Chairman and Chief Executive Dan Amos on Monday in the first stockholder vote on executive pay by a major U.S. company.
05/06/2008 12:00 AM The Dow Jones industrial average fell 88.66, or 0.68 percent, to 12,969.54.
Broader stock indicators also declined. The Standard & Poor’s 500 index fell 6.41, or 0.45 percent, to 1,407.49, while the Nasdaq composite index fell 12.87, or 0.52 percent, to 2,464.12.
05/06/2008 12:00 AM Medcenter One was re-cently recognized as a Magnet organization by the American Nurses Credentialing Center (ANCC). The Magnet Recognition Program recognizes healthcare organizations around the world that provide nursing excellence. Medcenter One is the first and only integrated health system in the state to achieve this status. As an integrated health system, this designation was achieved not only by Medcenter One’s hospital, but also by its nine clinics in Bismarck, Mandan, Dickinson and Jamestown and its home health and hospice agency.
05/03/2008 12:00 AM Central Sales, Inc., of Jamestown and Casselton, N.D., has joined the AutoFarm Alliance Network, becoming the newest dealer to offer AutoFarm GPS Precision Steering Solutions in southeastern North Dakota.
05/03/2008 12:00 AM The North Dakota Chamber of Commerce is accepting nominations for its statewide awards program.
The award categories include Agriculture, Business Development, Entrepreneurial Spirit, Education and Business, Natural Resources, Tourism and Recreational Development and the prestigious Greater North Dakotan award.
05/03/2008 12:00 AM Bismarck Job Service North Dakota Executive Director Maren Daley reported that labor statistics released today show North Dakota’s March not seasonally adjusted unemployment rate was 4 percent. The March statistic is little changed from February 2008 or March of 2007, which were both 3.9 percent.
05/03/2008 12:00 AM Industry experts and the public are invited to learn about biofuels, accessing the grid and regional energy-related projects at Bismarck State College.
Kopp receives customer service award Members of the Jamestown Area Chamber of Commerce Ambassador Committee and Chamber staff members recently presented a Customer Service Award to Cheri Kopp of Washington Elementary School. The committee honors individuals who demonstrate a consistent commitment to delivering products, services and/or information that satisfies customers by exceeding their requirements or expectations. more...
05/03/2008 12:00 AM Menards received the Special Recognition for Best Regional Retailer award earlier this month at the 2008 Energy Star Awards Ceremony in Washington, D.C. Menards was selected for the award from more than 12,000 Energy Star partner organizations for its commitment to energy efficiency.
05/03/2008 12:00 AM Anne Carlsen Center for Children in Jamestown has hired a new executive director for its foundation.
Dan Kunzman comes to ACCC with experience in the nonprofit sector, including more than 30 years in education. He was most recently vice president for enrollment management at Jamestown College. In that position, Kunzman helped recruitment, financial aid and retention efforts for the college.
05/03/2008 12:00 AM The 2008 North Dakota Barber Convention was held in Dickinson, N.D. The Grand Dakota Lodge hosted the 75th annual convention on April 19-20.
Saturday night was the annual Barbers Association meeting where next year’s officers were elected. They are Dave Arneson, Minot, president; Sharon Tester, Devils Lake, first vice president; Terry Remboldt, Jamestown, second vice president; Paul Ellerkamp, Dickinson, third vice president; Alonzo Guzman, Grand Forks, fourth vice president; Mike KLostreich, Mandan, fifth vice president; and Lori Ludlum-Fargo, secretary-treasurer.
05/03/2008 12:00 AM The Four Bears Portal Plaza and Linear Library Truss Monument located in New Town, N.D., and Kadrmas, Lee & Jackson won the 2008 American Public Works 2007 Project of the Year Award in the Historic Preservation less than $2 million category.
05/03/2008 12:00 AM Tim Burchill, administrator of Central Dakota Village, announced that a new name has been selected for CDV. The new name is Ave Maria Village.
Burchill said that one of the two primary reasons for the new name originated from the desire to be more reflective of the facility’s Catholic sponsorship and its Christian philosophy of care.
05/03/2008 12:00 AM A Jamestown business standard for nearly two decades closed its doors this week. Dakota Western Wear, which started business as The Mart in the Park Plaza Mall, closed its current operation in the Buffalo Mall at the end of business on Wednesday, said store owner Maynard Boeder.
“We’ve enjoyed doing business in Jamestown,” he said. “The Jamestown community, the chamber, the mall management have all been very good to us. I will miss interaction with the people the most.”
05/03/2008 12:00 AM Astounding profits in the oil industry are becoming as routine as the anguished looks of motorists filling up their gas tanks.
Chevron Corp. put yet another exclamation point on the oil patch’s long run of prosperity Friday with a first-quarter profit of $5.17 billion, or $2.48 per share. That was up 10 percent from net income of $4.72 billion, or $2.18 per share, last year.
05/03/2008 12:00 AM Microsoft Corp. reportedly dangled a higher takeover bid in front of Yahoo Inc. Friday, hoping to reach a friendly deal after weeks of saber rattling.
The Redmond, Wash.-based software maker upped its offer “by several dollars” per share, according to a New York Times report that cited unnamed sources.
05/03/2008 12:00 AM The Dow Jones industrial average rose 48.20, or 0.37 percent, to 13,058.20 after being up more than 100 points early in the session.
Broader stock indicators ended mixed. The Standard & Poor’s 500 index rose 4.56, or 0.32 percent, to 1,413.90, while the Nasdaq slipped 3.72, or 0.15 percent, to 2,476.99.
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