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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 03, 1992
Page
22
Stock markets weaken after a late selloff with the Dow dropping to 3234.12 as volumes rise. Tokyo's Nikkei closed down 295.76 points, heightening concerns of U.S. share selling to cover losses. U.S. factory orders rose 0.5 percent for February.
Cedarapids Inc ships a 600000 pound self propelled jaw crusher mobile track primary to Albany New York for about 1.4 million dollars. The 110 foot long machine requires 27 semi trailers marking a record shipment. The unit processes rock at up to 1000 tons per hour and feeds crushed stone to a finish plant half a mile away. Cedarapids scheduled a noon to 3 p.m. showing in Building 38 for employees and retirees.
The Quaker Oats plant in Cedar Rapids will supply oat flour and oat bran for Oatrim, a new fat substitute developed by the USDA. Quaker and Rhone-Poulenc plan to produce and sell Oatrim with ConAgra also licensed to market. Oatrim is under one calorie per gram, promising higher yields and creamier texture with potential bakery and meat uses.
Norwest Bank Cedar Rapids increases its Community Home Ownership Program by 1 million dollars to serve low and moderate income residents in Linn and Benton counties. The program began in 1991 with 3 million, now totaling 21 million statewide.
A Cedar Rapids Gazette reader asks for a company wide pay review plan to curb delays and resentment. The suggestion: conduct all annual reviews and wage changes in a fixed December cycle, issue a memo, apply a single annualized adjustment, compute averages by department, and explain to employees how their raises compare to the group. Scott Clark endorses a uniform system to reduce payroll delays.
The Gazette reports additional Fortune 500 companies tied to Iowa with their current rank versus last year and notes the full list to appear in Fortune magazine’s April issue. Firms include Procter and Gamble, United Technologies, Eastman Kodak, International Paper, Aluminum Company of America, Raytheon, Weyerhaeuser, Textron, General Mills, W R Grace, Gillette, Illinois Tool Works, Vulcan Materials, Chesapeake, Longview Fibre, and Thomas & Betts with varied gains and drops.
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