Financial
Fargo sixth-graders mop up against college investors PDF  | Print |  E-mail
Written by DAVE KOLPACK, Associated Press   
Monday, 07 April 2014 13:53

FARGO, N.D. (AP) — A class of sixth-graders from North Dakota has schooled some of the best college business students in the country on the stock market.

It started as a competition between the regular and advanced math classes at Fargo's Oak Grove Lutheran School, where Dave Carlson was teaching his students about handling money through two online investment companies. Unbeknownst to the middle school investors, one of the companies was at that time holding a university challenge that offered a $5,000 first prize to the investment club with the most profitable basket of stocks.

While Virginia-based McIntire Investment Institute won that contest with an 18.5 percent return, Carlson's regular math class yielded a nearly 22 percent gain and trounced all the university clubs on a return-since-creation basis.

Move over Berkeley, Cornell, Columbia, NYU and USC. You've been beaten by Carlson's Math Minions.

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Church wants Wal-Mart investor vote on gun sales PDF  | Print |  E-mail
Written by RANDALL CHASE, AP Business Writer   
Monday, 07 April 2014 12:59

WILMINGTON, Del. (AP) — Attorneys for a church in Manhattan are asking a federal judge in Delaware to prohibit Wal-Mart from sending its annual proxy statement to shareholders because it doesn't include its proposal for a shareholder vote involving gun sales.

The Episcopal parish that includes Trinity Church on Wall Street wants shareholders to vote on whether the board of Wal-Mart Stores Inc. should oversee management policy decisions on whether to sell products considered especially dangerous, harmful to Wal-Mart's reputation, or offensive to community and family values.

The proposal is aimed particularly at sales of guns with magazines holding more than 10 rounds.

Wal-Mart says it is not required to include the proposal in its proxy statement because it deals with ordinary business operations, an argument accepted by the Securities and Exchange Commission.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
US Steel plant resumes limited operations PDF  | Print |  E-mail
Written by Associated Press   
Monday, 07 April 2014 13:26

INDIANAPOLIS (AP) — U.S. Steel says its largest mill is on limited production, after a shortage of vital iron ore due to the ice covering Lake Superior had temporarily shut down its furnaces.

Company spokeswoman Courtney Boone said Monday that ships were able to bring ore to the sprawling Gary Works on Sunday despite lingering ice from the frigid winter. She would not specify the level of production or estimate the cost of the shutdown. She said U.S Steel hopes to get more ore to the mill this week.

The mill, which feeds steel to big industries, was shut down for about a week.

A spokesman for the Great Lakes shipping industry says iron ore stockpiles are running low in many places and coal shipments are down 70 percent from a year ago.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
Lands' End starts trading as public company PDF  | Print |  E-mail
Written by Associated Press   
Monday, 07 April 2014 11:04

NEW YORK (AP) — Lands' End shares are falling in its first day as a separate public company after being spun off from Sears.

The company's stock dropped $2.17, or 6.8 percent, to $29.50 in Monday morning trading.

Lands' End was publicly traded before Sears Holdings Corp. purchased it in 2002 for nearly $2 billion. Sears hasn't had much success with it though, and announced in December that it was going to spin off the clothing business as a separate company by distributing stock to its shareholders. It closed on the spinoff on Friday.

Sears received gross proceeds of $500 million from the separation. That consisted of a cash dividend paid by Lands' End to a subsidiary of Sears Holdings before the spinoff.

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