Tickers: Sept. 30
Robert DeWaay is leaving Bankers Trust Co. as executive vice president and chief lending officer, President Suku Radia said today. “We will soon name a replacement,” he said. DeWaay, who had been with Bankers Trust for 16 years, declined to comment.
Bank of America Corp. today announced the launch of Reserve Account Services, an expanded suite of specialized accounts and services that enable securities broker-dealers and futures commission merchants to keep larger balances in the reserve accounts they maintain for the protection of client assets, a release stated. Reserve Account Services will offer broker-dealers two types of accounts: trust custody accounts and commercial money market deposit accounts.
Deere & Co. said today it has signed a definitive agreement to form a joint venture with Ashok Leyland Ltd. to manufacture and market backhoes and four-wheel-drive loaders that will be sold in India and exported to other markets, the Quad-City Times reported. The joint venture plans to provide a full line of construction equipment in future years, according to a news release, and production is planned to begin in early 2010. Ashok Leyland is the second-largest manufacturer of commercial vehicles in India and the flagship of the Hinduja Group.
Alliantgroup L.P. will sponsor the first Midwest Tax Conference, which is specifically designed for business owners and the certified public accountants who advise them. The conference will focus on national government initiatives, and more specifically, Midwest initiatives, including tax relief for flood zones, rural/energy tax provisions, employment zones, research and development credits and the upcoming presidential election. The conference will be held Oct. 17 from 8 a.m. to 3 p.m. at the Sheraton West Des Moines Hotel, and is open to businesses of all sizes. Sen. Charles Grassley will be the keynote speaker, and donations toward flood relief will be accepted in lieu of conference fees.
Dexia became the second Belgian bank this week to get a government and shareholder bailout today when Belgium, France and Luxembourg announced they would inject almost 6.4 billion euros ($9.2 billion) to keep it afloat, CNNMoney reported. On Sunday, Belgium, the Netherlands and Luxembourg saved Belgian-Dutch bank Fortis, injecting 11.2 billion euros ($16.4 billion) after its shares plummeted on Friday.
The Community Tax Clinic and Community CPA & Associates Inc. have partnered with the Iowa Department of Economic Development, Drake University and other business development stakeholders to host the first Immigrant Entrepreneurs Summit. The summit’s mission is to bring immigrant-owned businesses and business service providers together to share information, learn best business practices, and celebrate the contributions immigrant-owned businesses make to the overall community. The summit will take place Saturday, Nov. 15 at Drake University’s Olmstead Center from 9 a.m. to 4 p.m. Registration is $50 for the general public and $30 for immigrant business owners. For more information, visit www.communitytaxclinic.com.
Mercy Medical Center received full cycle II accreditation from the Society of Chest Pain Centers Accreditation Review Committee on Sept. 11. In 2005, Mercy was the first hospital in Iowa to receive accreditation, and continues to be the only accredited chest pain center in Central Iowa.
Lt. Gov. Patty Judge formally announced Marquette/McGregor, Spencer, Warren County and West Union as Iowa’s newest Great Places during a ceremony today at the state Capitol. Representatives from each of the four new Great Places received a proclamation from Judge and an award certificate from the Iowa Department of Cultural Affairs, which administers the Iowa Great Places program.