Ticker: Feb. 10

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An earthquake with a preliminary magnitude of 4.3 hit Illinois early this morning, officials said. NBC News reported that the quake was centered about eight miles northeast of DeKalb, Ill. It was felt in Chicago, Milwaukee and parts of Indiana, Michigan and Iowa at around 4 a.m. local time. NBC station WMAQ in Chicago reported that law enforcement officials said there were no immediate reports of damage or injuries. A spokesman for the Sycamore, Ill., fire department described the earthquake as “just a little shake.”

Gov. Chet Culver this morning was scheduled to sign into law an early retirement package for state workers, IowaPolitics.com reported. Senate File 2062 aims at enticing an estimated 2,261 eligible state employees to take early retirement. Participating employees who have worked for the state for at least 10 years would receive $1,000 for each year of employment up to 25 years. They would also receive unused vacation funds and monthly health care premium costs over a five-year period beginning next September. Senate Majority Leader Mike Gronstal, D-Council Bluffs, said once the bill is signed into law, the Legislature will then look at expanding early retirement to the legislative branch.

Despite another cold and snowy month, January home-buying statistics point to a more active 2010 housing market in Greater Des Moines, according to the Des Moines Area Association of Realtors (DMAAR). Buyers wrote 163 more purchase contracts last month than in December, which is a good indicator of increased activity for the first quarter, said association President Joanne Mangold in a press release. The number of closed contracts, however, was down nearly 33 percent (339 in January from 451 in December), suggesting more activity late in the month compared with earlier in the month, but up two percent from January 2009. The average sale price decreased 12.6 percent to $139,075 in January compared with December, which indicates first-time home buyers are still driving the market, Mangold said. Additional statistics and information about the Des Moines housing market are available at the DMAAR Web site www.BuyNowDSM.com.

Marsh & McLennan Cos. Inc. reported net income of $38 million for the fourth quarter, a decrease from fourth-quarter 2008 net income of $80 million. The decline was due to the settlement in 2009 of securities and benefits lawsuits filed in 2004, the company said. Earnings per share on an adjusted basis, which excludes extraordinary items, increased 6 percent to 38 cents for the year, compared with 36 cents in 2008. For the year, net income was $242 million, compared with a net loss of $73 million in 2008. As part of court-approved settlements, without admitting wrongdoing, Marsh paid a total of $435 million to settle both the securities and related ERISA class-action lawsuits and received $230 million from its insurance carriers.

Meta Financial Group Inc. reported net income of $1.2 million, or 45 cents per share, for its first fiscal 2010 quarter, which ended Dec. 31, compared to $0.7 million or 26 cents per share for the 2009 first quarter. The current quarterly earnings results were primarily driven by a $4.4 million increase in fee revenue from the company’s Meta Payment Systems subsidiary and a $1.9 million gain on the sale of securities, but partially offset by a loan loss provision expense increase of $2.6 million. The provision expense was primarily related to a larger income-tax-related loan program, as compared with the prior year, which will produce most of the program’s earnings in the March 2010 quarter.