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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 08, 2003
Page
15
U S led troops swept into Baghdad seizing a presidential palace boosting investor optimism that the war may end soon. The Dow gained 23.26 to 8300.41 the Nasdaq rose 6.00 to 1389.51 while advancers outnumbered decliners 9 to 5 on the NYSE.
Teahen Funeral Home in Walford occupies the former Holy Trinity Church building at 115 First Ave. E. The 1974 refurbished site is handicap accessible and includes a chapel and kitchen for luncheons while Cedar Rapids operations continue at 3100 F Ave. NW.
The Treasury Department sold 15 billion in three month bills at a discount rate of 1.135 percent, up from 1.100 percent last week. An additional 16 billion was sold in six month bills at 1.135 percent, up from 1.090 percent. The discount rates imply a return of 1.158 percent on a 10,000 three month bill selling for 9,971.30 and 1.161 percent on a six month bill at 9,942.60.
Riverdeep Inc plans to expand its Hiawatha operations by hiring 48 inside sales and support staff for its educational software lines including The Print Shop and Reader Rabbit. The Novato based firm says hires target teachers and technology coordinators with average total compensation around 50,000 dollars. Priority One coordinated possible state assistance.
General Mills teamed with a Winston Cup pit crew to shrink Betty Crocker plant changeovers to 12 minutes from hours. The company, aiming to save 800 million dollars in 10 years, also studied a U S Marshals SWAT team to improve cross‑department teamwork and link bonuses to overall supply chain performance.
American Airlines said it will operate about 13 percent fewer international flights and 2 percent fewer domestic flights in May due to the Iraq war and weak economy. Continental suspended Newark Hong Kong service until June 2 amid SCID driven traffic drop.
Eagle Food Centers Inc. filed for Chapter 11 in Chicago, seeking to restructure while continuing to operate its 61 stores in Illinois and Iowa. The Milan based chain has secured 40 million in debtor in possession financing from Congress Financial Corp to meet obligations and explore sale options.
An Iowa report shows rising ethanol production lowering fuel prices while distillers grains from ethanol plants gain traction as livestock feed. Brokers note brisk demand, with grains up about 20 percent from a year ago and contributing up to 30 percent of receipts at Midwest Grain Processors in Lakota.
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