NEWS
3/4/2010 10:50:00 AM
Ticker: March 4
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The number of Americans filing initial claims for unemployment benefits fell more than expected during the week ended Feb. 27, according to U.S. Department of Labor. Claims fell 29,000 to 469,000, the lowest point since Jan. 9, CNNMoney.com reported. Briefing.com economists had expected new claims to drop to 470,000. Read more.
Drake University and the Des Moines Area Sports Commission launched a new initiative for branding track in Des Moines called "Track Central USA" and announced plans for a new Track Central USA Fan Zone adjacent to Drake Stadium. The area will include interactive video kiosks, a "hands on" track and field exhibit space, an area designated for fitness/wellness, a stage for athlete interaction, an improved merchandise exhibit area, food and other vendors. Greg Edwards, Greater Des Moines Convention and Visitors Bureau president and CEO, said the Track Central USA initiative will allow Des Moines to pursue Olympic trials for track and field in the future. Drake Stadium has long been the site of the Drake Relays and various other national events, and will hold the 2010 USA Track and Field Outdoor Championships in June and the 2011 and 2012 NCAA Outdoor Track and Field Championships.
West Des Moines-based American Equity Investment Life Holding Co. is sending Wendy Waugaman, CEO and president, and John Matovina, chief financial officer and vice chairman, to present at the Raymond James 41st Annual Institutional Investors Conference in Orlando, Fla. Read more.
Sauer-Danfoss Inc., which has a manufacturing facility in Ames, reported fourth-quarter net sales of $278.9 million, a 25 percent decline from net sales of $371.4 million for the fourth quarter of 2008. The company reported a net loss of $74.7 million, or $1.55 per share, for the quarter, compared with a net loss of $90.6 million, or $1.88 per share, a year earlier. See the full release.
U.S. sales of life insurance won't return to 2008 levels for two years, according to a senior analyst at industry research organization Limra. Total new annualized premiums fell 5 percent in the fourth quarter, and had a total decline of 15 percent for the year. Whole life insurance was the only product line that was up in 2009. Sales for 2009 were down to $11.3 billion from $13.7 billion in 2008.
Gov. Chet Culver today said he's sending a letter to the Iowa Racing and Gaming Commission, urging members to approve licenses for four new casinos that would create jobs, Iowapolitics.com reported. The commission meets today and is expected to make a decision in May about whether to grant new casino licenses for the first time since 2005.
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