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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 07, 2012
Page
6
Treasury requires nearly 70 executives at AIG Ally Financial and GM to take 10 percent pay cuts. CEOs pay remains frozen at 2011 levels as the firms have not repaid the $700 billion bailout and remain subject to ongoing compensation limits.
Eastman Kodak Co seeks permission to pay about 13.5 million in bonuses to roughly 300 executives and other employees to persuade them to stay during Chapter 11 reorganization. The company also withdraws its bid to end supplemental health care for about 16,000 Medicare eligible retirees.
Facebook plans to list on Nasdaq according to reports from The New York Times and CNBC. The potential $5 billion IPO would mark a major win for Nasdaq over NYSE Euronext amid a roster of tech giants already listed there including Apple, Google and Microsoft.
The Gazette announces a new Going Up column inviting owners to submit local construction projects with address or intersection details. A second feature, In Our Backyard, will profile Corridor manufacturers and suppliers with contact information. Markets were closed yesterday for Good Friday.
Bills' Bros. Furniture expands after the 2008 flood by launching Bills' Bros. Clearance Corner at 724 Third St. SE with 7,000 square feet of as is cash and carry appliances electronics and small items. The venture follows the flood recovery and aims to offer lower priced goods in a two floor space across from the main showroom. It dates to the economic downturn when salvage furniture was hard to source and focuses on repeat business through smaller items.
The University of Northern Iowa study, funded by the Iowa Bicycle Coalition, estimates recreation cycling in Iowa adds 364.8 million in economic impact and saves 73.9 million in health costs for 150000 riders. It notes riders would bike more with better facilities and highlights 24,921 commuters generating 51.9 million in impact and 13.2 million in health savings. The report counters attitudes that roads are for cars and urges federal support for trails.
A former Mollys Cupcakes employee aims to open the bakerys first franchise at 145 Clinton Street in Iowa City near Lib erty Banks downtown site. The plan awaits a 35000 working capital loan from the Iowa City Council Economic Development Committee next week. The store will stay open until midnight on weekends and offers board games and a sprinkle station for kids.
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