Ticker: Oct. 28
The Federal Deposit Insurance Corp. (FDIC) is warning businesses and consumers to beware of phishing e-mails asking recipients to download and open a “personal FDIC insurance file” to check their deposit insurance coverage. These e-mails, which have been received in Central Iowa, are fraudulent and were not sent by the FDIC. Officials say they are attempting to identify the source of the e-mails and disrupt their transmission. Recipients should consider the e-mails a malicious attempt to collect personal or confidential information, some of which may be used to gain unauthorized access to online banking services or to conduct identity theft, the FDIC said.
Qwest Communications International Inc. posted a higher-than-expected quarterly profit and boosted its full-year outlook as it planned more cost cuts. Qwest reported a third-quarter net profit of $136 million, or 8 cents per share, compared with $145 million, or 8 cents per share, a year earlier. Although the telephone operator’s quarterly revenues fell 9.6 percent, slightly steeper than analysts had expected, investors cheered Qwest’s ability to rein in costs.
U.S. Bancorp CEO Rick Davis and Chief Financial Officer Andrew Cecere will receive cash bonuses and stock options, perks that both executives declined to take in January. The compensation committee of the Minneapolis-based bank’s board of directors has decided to reinstate the bonuses, according to a filing with the U.S. Securities and Exchange Commission on Monday. Davis will receive a cash bonus worth about $1.26 million as well as options to buy 305,635 shares of stock. Cecere, meanwhile, will receive a $525,000 cash bonus and options to buy 183,374 shares. U.S. Bank officially ended its participation in the federal government’s bank bailout program in July.
Nomination materials for the Iowa Volunteer Hall of Fame have been released by the Iowa Commission on Volunteer Service. Nominations must be submitted online by Jan. 8. The hall of fame honors individuals “who have demonstrated exceptional commitment to volunteerism by helping their community and those in need.” Nominations may be submitted in one of several categories: individual, organization/nonprofit, group, family, business/corporation or labor union. Details and nomination materials are available at
www.volunteeriowa.org.
The Greater Des Moines Partnership’s Government Policy Council, the Young Professionals Connection and the Greater Des Moines Leadership Institute will host a Public Service Academy on Nov. 17 from 5 to 8 p.m. in the Arthur Davis Conference Room at the Greater Des Moines Partnership, 700 Locust St., Suite 100 in Des Moines. The goal of the academy is to encourage the next generation of leaders to become more involved in public service. Details and registration information are available at www.desmoinesmetro.com/events.