Blue chip stocks fall while Nasdaq gains
NEW YORK -- Blue chip stocks fell for a third straight session Friday as investors fretted about rising interest rates, but technology shares continued their recovery and drove the Nasdaq composite index higher.
The Dow Jones industrial average fell 154.19 to close at 10,733.91. The Nasdaq composite rose 86.63 to close at 3,860.66. The index, which fell steeply earlier this month, ended the week with a gain of 216.78 points, or 5.9 percent.
Advancing issues outnumbered decliners by a 7-to-5 margin on the New York Stock Exchange and by a 12-to-7 margin on the Nasdaq.
Hotel opens new 53-room location
Red Roof Inn & Suites has opened a new location in Augusta at 4328 Frontage Road. There are 53 rooms offering business kings, double queens, jacuzzi rooms and suites. The rates start at $39.99.
Extra amenities offered include free continental breakfast, a fitness room, an outdoor swimming pool and Internet access in the lobby. For information and reservations, call 228-3031.
Company plans job cuts, no layoffs
MOLINE, Ill. -- Deere & Co. plans to cut about 300 jobs by phasing out engine production at a plant in Dubuque, Iowa, in the next three to five years.
Deere expects to cut the jobs through normal attrition, and officials do not foresee any layoffs, according to a company statement Friday. The engine operations jobs cut at the Dubuque plant will move to plants in either Waterloo, Iowa, or Torreon, Mexico, the company said.
The 300 jobs represent about 20 percent of the plant's current work force.
Airline will give meals to pilots
ATLANTA -- Hoping to eliminate growling stomachs in the cockpit, Delta Air Lines plans to make meals available to pilots on flights where food is served.
Delta said the program, which it is starting voluntarily, will cost $3 million to $5 million annually.
Delta's pilots have no contractual provision for in-flight meals. They get money to buy food at airports to bring aboard, but long lines and quick connections often make that impossible.