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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 19, 2011
Page
10
Stocks fell sharply after Standard and Poor's warned of a possible downgrade of U S government debt. The Dow dropped 140 points to 12202, the S&P 500 shed 15 to 1305, and the Nasdaq fell 29 to 2735 as four stocks declined for every winner.
The world famous Philadelphia Orchestra will file for Chapter 11 protection amid a five year audience decline but pledges concerts will continue. In Miami Burger King settles a price dispute with franchisees after 3G Capital bought the chain for 4 billion dollars.
Volkswagen unveiled a wider Beetle with a flat roofline and roomier interior to attract American men and boost U.S. sales. The revamped model adds a rear spoiler for its 160 and 200 horsepower versions, replacing the previous dashboard flower vase.
US engineering student Adam Thompson invented the Lightning glove steamer at UI facilities to speed break-in for new baseball gloves. Priced around 500 dollars, it targets high school and college programs with demos planned and a supporting water based conditioner and break in mallet. Thompson mentors youth baseball and seeks college partnerships as his UI entrepreneurship program credits him.
The piece follows Abraham Daye and others weighing early retirement offers from NC Mutual Life. It outlines financial and legal considerations, unemployment rules, and the need to review health insurance, counseling, and postbuyout plans within a typical 30 day decision period.
Standard and Poor's lowers the United States outlook from stable to negative signaling a two year window for deficit reduction. The move comes amid proposed budget plans by Paul Ryan and Barack Obama, with Moody's flags raised earlier but no debt ceiling mention.
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