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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 13, 2010
Page
10
The Dow Jones Industrial Average closes above 11,000 for the first time in 18 months, rising 8.62 points to 11,005.97 amid optimism about the economy. The S&P 500 nears 1,200, finishing at 1,196.48 after trading as high as 1,199.20, and the Nasdaq Composite reaches 2,457.87.
Apache Hose and Belting Company Inc. of Cedar Rapids has completed its purchase of Ag Belt of Des Moines, maker of baler belts since 1973. Ag Belt will operate from Des Moines and sell under the Ag Belt brand. This is Apache’s third acquisition in under three years and the Cedar Rapids firm employs more than 180 people.
Hawaiian Airlines leads a study ranking the 18 busiest U S carriers on service quality. AirTran follows closely while Atlantic Southeast Comair and Delta subsidiaries rank bottom among regional and mainline carriers. The rating weighs on time performance baggage handling denied boardings and DOT complaints.
Crude prices slipped on Monday with May delivery at 84.34 dollars on the NYMEX as traders weighed a slow economic recovery and strength in U S oil and gas demand. Earlier intraday prices touched 85.44 dollars.
Washington AP reports a renewed fight over restoring federally funded unemployment benefits averaging 335 dollars per week. Republicans blocked a temporary extension to end April, while Senate and House negotiators seek a broader bill through year end. Coburn pushes to pay for the expansion, while Democrats defend the deficit financed program to support the economy.
The National Bureau of Economic Research said it is premature to date the end of the downturn. It cited preliminary data on GDP employment and industrial activity and noted later revisions may alter estimates. The start date remains December 2007 with recovery views mixed amid slow job growth.
More than 50 employers will meet with job seekers April 24 at the 2010 Corridor Career Fair at Kirkwood Community College. The event, organized by area groups, drew over 1,000 job seekers last year at the Kirkwood Recreation Center.
Iowa regulators seek a 10000 fine and a cease and desist order against Noah Aulwes president of Covenant Advisors Cedar Rapids for selling a private equity fund misrepresenting risks and misusing funds The fund fell from 46 million AUM to 155 million by late 2009 and relied on short selling halted by the SEC Aulwes blames poor administration and insufficient disclosures.
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