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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 07, 2005
Page
14
Wall Street closed mixed with the Dow at 10,486.02 up 27.56 as oil supply optimism rose while investors shifted attention to corporate earnings. The Nasdaq slipped to 1,999.14, down 0.18, with advancers outperforming decliners on the NYSE.
The U S International Trade Commission unanimously reversed penalties on Canadian hog imports amid rising U S prices. Canada shipped 8.5 million hogs worth 529 million dollars to the United States last year, with some U S producers benefiting from cheaper imports.
Cedar Rapids based Com-Link Inc. begins wireless broadband service in Cedar Rapids and Hiawatha with three speed tiers from a $40 monthly base. Mount Mercy College transmitter on McAuley Hall covers about 80 percent of the metro area pending site surveys. Alcoa reports Q1 earnings drop to 260 million due to restructuring charges. sales up 13 percent to 6.29 billion. Alter Trading plans 5 million expansion at Waterloo plant adding five jobs by November.
Monsanto Co. reported second quarter profit more than doubled to 373 million dollars or 1.37 per share, from 154 million or 57 cents a year earlier. Revenue rose 27 percent to 1.91 billion dollars as seed business growth supported results.
Team TerraMax led by Oshkosh Truck Rockwell Collins and the University of Parma trains a driverless M TVR truck in Iowa for DARPA 2005 Grand Challenge an Oct 8 desert race with a 2 million prize. The vehicle uses sensors AI and synthetic vision with an escort driver for safety.
Four major MCI investors, holding about 12 percent of shares, urged the board to reject Verizon’s $7.5 billion deal and favor Qwest’s higher $8.9 billion bid. They questioned Qwest’s finances and questioned MCI’s willingness to leave value on the table amid the bidding war. The board had rejected Qwest’s latest offer after a prior price request, while shareholders weigh options ahead of a potential vote on Verizon.
Burlington claims BNSF violated an 1858 riverfront land agreement by eliminating or transferring more than 400 local jobs. The city seeks rent from the railroad and hopes to force job restoration, with trial expected in November in Davenport. Representatives say negotiations spanned two years with Gov. Vilsack involved.
The Eastern Iowa Airport search reduces 43 applicants to 10 for a second interview with Alliance Source Consulting. Larry Mullendore retires June 1990 after serving as airport director since October 1989. Salary range for the successor predicted between 80 246 and 110 240 with required aviation experience.
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