Economy

Economy & Business news

Michelle O'Neill / WVIK News

The factory on Arsenal Island is now working with a private company to make ambulance kits for the military. This morning, officials held a ceremony to announce the new partnership between the Joint Manufacturing and Technology Center (JMTC) and AM General.

WVIK News / WVIK News

As the Mississippi River continues to drop, FEMA has a couple of reminders for flood victims and others.

Steelworkers Local 105

Workers at one of the Quad Cities largest employers are willing to go on strike if they can't agree on a new contract. Thursday members of Local 105 of the Steelworkers Union, who work at the Arconic plant in Riverdale, approved a strike authorization for their leaders.

There was little change in unemployment in the Quad Cities last month. The Illinois Department of Employment Security says the rate moved up just one-tenth of a per cent - from 3.8 per cent a year ago, to 3.9 per cent in April.

Dressbarn

Dressbarn, the women's clothing chain that's been around for nearly 60 years, is closing all 650 of its stores. And that includes 10 in Iowa and 27 in Illinois.

Iowa Helps QC Startup

May 20, 2019

The state of Iowa wants to help a startup company in the Quad Cities. On Friday, the board of the Iowa Economic Development Authority approved a 25,000 dollar loan for TuitionFit, based in Davenport.

Michelle O'Neill / WVIK News

Sales rose but net income fell for John Deere during its second quarter.

Today, the company reported sales rose 6% to 11.3 billion dollars during February, March, and April.

Profits totaled $1.1 billion, compared to $1.2 billion at this time a year ago.

There's no new agreement, but they're still talking. That's the report from Pittsburgh where the United Steelworkers Union is negotiating a new contract with Arconic - their five-year agreement was set to expire Wednesday night, but both sides agreed to extend the agreement while meetings continue.

John Deere will report results for its second quarter on Friday, and analysts are mostly optimistic. As reported by Yahoo Finance, they predict revenue will climb 4.5 per cent from the same quarter last year, to $10.1 billion.  And that earnings per share will jump 15 per cent to $3.61. 

United Steelworkers Union

The current contract expires late Wednesday night for one of the Quad Cities largest employers and the United Steelworkers union. Negotiations with Arconic, formerly part of Alcoa, affect 1,900 hourly workers here, and 1,400 more in 3 other states.

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