Economy

Economy & Business news

Arconic plans to freeze pension plan contributions for U.S. workers, and instead make contributions to a 401(k) plan for employees.

The company says the freeze only applies to the accrual of benefits for about 7,900 salaried employees plus hourly employees who are not members of a union. Retirees who are already collecting benefits will NOT be affected.

Unemployment continued to fall last month in the Quad Cities. The Illinois Department of Employment Security says our rate went from 4.8 per cent a year ago, to 3.9 per cent in November.

Michelle ONeill / WVIK News

Truckers, owners, operators, police, and safety experts all want Congress to regulate self-driving cars and trucks before they hit the road in large numbers. Especially worrisome is the safety and security of autonomous big rigs like semi-tractor-trailers.

In the second of two features, Michelle O'Neill reports truck drivers may think the technology will eliminate their jobs, but others say just the opposite.


WVIK News

Illinois Governor Bruce Rauner will travel to northwestern Illinois Tuesday to celebrate an anniversary. One year ago, he signed the Future Energy Jobs Act which helped convince Exelon to keep open nuclear power plants in Cordova, near the Quad Cities, and Clinton in central Illinois.

WVIK News

After recently setting records, passenger traffic has been falling this year at the Quad City Airport. And it's "fighting back" with an advertising campaign and a trip calculator.

Deere and Company

A familiar face has joined the Deere and Company board of directors. Wednesday the company announced the addition of Charles Holliday Junior, currently chairman of Royal Dutch Shell. 

Despite growing revenue from digital services, earnings fell for Lee Enterprises. Wednesday the media company based in Davenport reported financial results for the fiscal year that ended in September. 

Hawkeye Hotels

An important part of the re-development of downtown Davenport has a new owner. Last week, Hawkeye Hotels announced the purchase of the Radisson Quad City Plaza.

https://www.wirtgen-group.com/en/news-media/information-material/ / Wirtgen Group

Now that agencies from more than 20 countries have approved it, Deere & Company has closed its biggest deal.

This morning, Deere announced it officially owns the Wirtgen Group, a German company that makes road construction equipment.

Michelle O'Neill reports.

Deere spokesman, Ken Golden, says the company bought Wirtgen for $5.2 billion to expand and strengthen its Construction and Forestry division.

Michelle O'Neill / WVIK News

People have been spending more more money at local hotels, restaurants, gas stations, and attractions.

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