Economy

Economy & Business news

Renew Moline and the City of Moline

Without knowing when Amtrak service will finally connect the Quad Cities with Chicago, the city of Moline continues to move forward with the design of its train station. Tuesday morning, city officials and Renew Moline unveiled a new logo for "The Q," or the Quad Cities Multi-Modal passenger rail station.

clipart from the National Crime Prevention Council

This Week on Midwest Week, a look at a little-known part of our legal system - evictions and eviction court.Herb Trix's guest is Linda Cook, reporter for the Quad City Times.

You can also hear Midwest Week Fridays on WVIK at 6:20 pm, during All Things Considered. 

Unemployment Rose in July

Aug 25, 2016

Unemployment increased in the Quad Cities in July - rising from 5.4 per cent a year ago to 5.6 per cent last month. And of the 13 major metro areas in Illinois, ours was the only one where the rate went up.

John Deere

John Deere has announced more layoffs at two eastern Iowa plants, including one in the Quad Cities. Spokesman Ken Golden says 115 workers in Waterloo will be laid off, effective September 23rd and in Davenport, a week later.

Deere & Company

As expected, sales and profits fell in the third quarter for Deere and Company. Today it reported sales for May through July dropped 11 per cent, and net income fell to 489 million dollars, compared with 511 million for the same quarter last year - a drop of 4 1/2 per cent.

Spokesman Ken Golden says sales of Deere farm and landscape equipment decreased eleven percent in the third quarter, year over year. And the company predicts they'll drop eight per cent for the full year.

Adjusting to lower demand, the company will lay off 120 workers at the Deere Harvester combine factory in East Moline. The layoffs will take effect right after Labor Day.

Ten X

The Sandburg Mall in Galesburg may soon have a new owner. An online auction of the shopping mall ended last night with a high bid of 650,000 dollars.

That's according to a real estate agent, as quoted by the Galesburg Register Mail. The agent says it could take a month or longer to finalize the sale, and then the name of the buyer could be released.

Three children stand and talk in front of large signs
Michelle O'Neill / WVIK News

More people are visiting the Quad Cities this August compared to August, 2015. The convention and visitors bureau says tourists are here for the John Deere Classic, which is usually held in July. And the Quad City Symphony Orchestra changed the date of its Riverfront Pops concert from September to August.

Ten X

If you've always wanted to own your own shopping mall, now's your chance. All it'll take is several hundred thousands dollars and an optimistic attitude about western Illinois.

Monday through Wednesday, the Sandburg Mall in Galesburg will be for sale in an online auction, with a starting bid of 300,000 dollars.

Earnings improved but revenue fell for Lee Enterprises during its 3rd quarter. Thursday the newspaper company based in Davenport that owns the Quad City Times, reported results for April through June.

Overall revenue dropped 4.9 per cent, while earnings per share rose to 8 cents, compared to 5 cents a year ago. 

The unemployment rate dropped last month in eight of Illinois’ 14 metropolitan areas compared to June a year ago, but not in the Quad Cities. The Illinois Department of Employment Security says the local jobless rate was 5.6% last month compared to 5.3% a year earlier.

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