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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 19, 2008
Page
20
Wall Street ended a strong week with a rally as investors welcomed positive results from Google and other companies. The Dow rose 228.87 to 12,849.36, the S&P 500 gained 24.77 to 1,390.33, and the Nasdaq advanced 61.14 to 2,402.97.
Retail gasoline hits a record 3.445 a gallon driven by crude oil futures up to 117 a barrel. A militant group in Nigeria claims sabotage on a Shell pipeline and vows more attacks on the petroleum sector. Diesel climbs above 4 a gallon.
AT&T Inc plans to lay off about 4,600 employees, about 1.5 percent of its workforce, mostly managers in wireline operations including local phone and corporate service. The company will record a $374 million pretax charge in the first quarter.
Citigroup Inc posted a 5.1 billion dollar first quarter loss and will eliminate about 9000 additional jobs. The bank’s mortgage and leveraged loan bets caused billions in losses, with earnings of 1.02 per share versus 1.01 a year ago and revenue of 13.2 billion. Des Moines operations cited.
A random survey records gas prices in the Corridor as of yesterday afternoon. Prices are rounded to the nearest cent.
Amtrak says extending Chicago to the Quad Cities rail line to Iowa City could work with modest public subsidies. The plan envisions two daily round trips stopping at Moline and five Illinois cities, with Illinois funding debated and Iowa planning a $32.5 million initial investment for upgrades and signal improvements.
Rockwell Collins marked the delivery of its 200000th Defense Advanced Global Positioning System Receiver and the 40000th GPS engine for the Army program at a Coralville ceremony. Dave Crowley, a former Iowa National Guard member, spoke of how DAGRs assist frontline units with precise location and rapid medevac coordination. Lt. Col. Jay Spencer praised the company’s role in soldier safety.
Carmax offers tips to prepare vehicles for spring testing critical systems after winter. Have undercarriage wash, wash and wax, change oil every 3000 miles, inspect air filter PCV valve, and diagnose engine. Check coolant belts hoses lights wiper blades tires brakes steering suspension and rotate tires. Test air conditioning to avoid summer delays.
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