Archive for October 2008
Two Central Iowa banks cited for ‘unsound practices’
By Kent Darr and Joe Gardyasz
Two federally chartered banks that operate branches in Greater Des Moines are working to comply with enforcement actions issued earlier this year by the Office of the Comptroller of …
Historic downtown building demolished
The former Sink Paper Co. building at 100 Fifth Ave., Des Moines, was demolished last Friday, and crews continue to sort and haul away the wreckage this week.
“Our company has filled lots of landfills …
Final council vote OKs Hubbell development
The Johnston City Council voted 3-2 on Monday to approve a conservation-themed residential development on land recently annexed into the city.
Hubbell Realty Co. proposed the Crosshaven development earlier this year on 277 acres near …
Tickers: Oct. 8
ALL Fuels & Energy Co. announced today that shareholders holding a majority of its outstanding shares had voted, by a written consent, to remove three directors, Mark Leonard, Steven Leavitt and Brian Gibson. The former …
Read MoreMerle Hay plan calls for revitalization of commercial corridor
As Merle Hay Mall works on $12 million in renovations, a new vision plan for the Merle Hay neighborhood calls for further streetscape and infrastructure improvements, a possible business association and other methods for reviving …
Read MoreShock waves felt around the world
World markets are feeling the seismic waves of a bad economy, and in response several central banks cut interest rates almost simultaneously this morning, CNNMoney reported.
“It tells a lot about the weakness globally,” said …
Tickers: Oct. 7
Citigroup Inc., Wells Fargo & Co. and Wachovia Corp. have agreed to halt litigation until noon Wednesday, in an effort to reach a resolution on Wachovia’s sale, the Orlando Business Journal reported. The Federal Deposit …
Read MoreBank of America looks for capital as earnings drop
Bank of America Corp. cut its quarterly dividend in half to 32 cents per share and announced plans to raise $10 billion in capital from common stock offerings after its third-quarter earnings dropped 68 percent, …
Read MoreFed announces short-term loan plan
The Federal Reserve announced a bold plan this morning to buy massive amounts of short-term debt to help ease investors’ fears and prevent further company shutdowns, the Associated Press reported.
The government will buy “commercial …
Failed recycling center produces a fraud lawsuit
A New York businessman claims in a lawsuit that individuals long associated with Regency home building and land development companies created a shell company to shield property titles from other investors.
James Taylor, who joined …