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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 10, 2012
Page
6
U S stocks edged higher on Friday as February payrolls showed 227000 new jobs, boosting hopes of a steady recovery. Dow gained 14 to 12922, S&P 500 rose 5 to 1370, Nasdaq added 18 to 2988, with about seven gainers for every three decliners on light volume.
Bank of America will reduce principal on as many as 200,000 underwater loans under the government foreclosure settlement. The move is part of a $1 billion side deal to the $25 billion accord, potentially cutting BoA penalties by about 850 million dollars.
Yum Brands explores higher priced Taco Bell items to compete with Chipotle. The chain has tested the Can tina Bell menu in about 75 U S locations with items around 4.99 dollars featuring black beans cilantro rice and corn salsa.
The government limits CEO pay at the bailed-out mortgage giants to 500000 per year and ends annual bonuses amid congressional pressure. The move follows scrutiny after 12 executives earned 3540 million in salary and bonuses over 2009 and 2010.
The EPA ordered Cedar Valley Electroplating and R Squared Properties LLC to contain leaking tanks and identify all wastes at the 5611 Westminster Dr site in Cedar Falls. The order requires immediate cleanup plans, investigation of off site migration, and restricting access to hazardous materials, with penalties of at least 7500 per violation per day possible.
Earl Kinner, publisher of the Licking Valley Courier in West Liberty, survived a wrecked home when a tornado destroyed the town. The paper, aided by the Mount Sterling Advocate, restarted printing and posted updates online. Reporter Miranda Cantrell led shelter interviews and launched a Facebook page to inform residents and coordinate funeral notices and meeting details.
Verizon Wireless is expected to gain more from Apple's iPad than AT T as the first U S seller. Analysts forecast 3 to 4 million iPads sold by Verizon vs about 2 million by AT T due to LTE coverage and mobile hotspot features.
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