War news rallies Wall Street investors

After being pummeled for weeks by uncertainty over Iraq, Wall Street rallied Friday as the U.N. Security Council at least seemed to slow the march to war. The Dow Jones industrials soared more than 150 points, their biggest one-day gain in a month, and the market claimed its first winning week in five weeks.

While investors are worried about war, they fear uncertainty more — and Secretary of State Colin Powell’s comments appeared to suggest that the United States has made up its mind to go to war.

Friday’s buying spree enabled the indexes to score their first winning week in five weeks. For the week, the Dow and S&P 500 each rose 0.6 percent, while the Nasdaq gained 2.2 percent.

Above, traders and specialists kept working the floor at the New York Stock Exchange while listening to Hans Blix as he delivered his report on Iraq to the Security Council Friday.

Lawrence: Furniture retailer set to close by March 31

Bobbi’s Bedroom, a South Iowa Street bed and futon retailer, will close by the end of March, its owner said Friday.

Bob Buchanan, owner of the store at 2429 Iowa, said problems with his health were the main reason he’s decided to close the store.

“I’ve been in the business for 22 years,” Buchanan said. “I’m just worn out. I need something that doesn’t require so much heavy lifting.”

The store — which specializes in selling futons, waterbeds, bunkbeds and daybeds — opened in 1990.

But Buchanan has been in the furniture store industry since 1980, he said.

The store has two employees, including Buchanan, who has taken a job with a Lawrence mortgage company. Buchanan said the store would close no later than March 31 but said the final day of business likely would be earlier, depending on how quickly the store’s inventory sells.

Agriculture: Foley in running for Cabinet position

Rural Lawrence resident Greg Foley is among the three candidates to become the state’s secretary of agriculture.

Foley, who is currently serving as the acting secretary of agriculture, was among the finalists that the State Board of Agriculture submitted to Gov. Kathleen Sebelius for consideration.

The other two nominees are Allen J. Dinkel, Hoisington, and Adrian Polanski, Belleville. Sebelius must choose her nominee from a list of names compiled by the board. This is the second list the board has provided Sebelius, after she rejected the first list of names.

Foley previously has served as the assistant secretary of agriculture in the Graves administration.