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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Apr 27, 2004
Page
16
Stock markets dropped on rate concerns with blue chips and tech shares under pressure. The Dow fell 28.11 points to 10,444.73 and the Nasdaq slid 13 points to 2,036.77 as decliners outpaced advancers 9 to 5 on 1.66 billion shares traded.
The Gazette reports an April to June hiring surge in Eastern Iowa with 64 of 135 firms planning 740 new hires, up from January–March. Most growth is in services, average hires per firm are 12, and wages average 11.16 per hour. Three firms expect layoffs totaling 15. Firms with 300 or more employees account for 63 percent of planned hires.
A federal judge issued a temporary restraining order preventing the Agriculture Department from expanding imports of Canadian beef amid mad cow disease concerns. R-CALF United Stockgrowers of America argues the April 19 decision to permit edible bovine meat products raises human health risks and harms the U.S. cattle industry. Proceedings follow a suit filed in U.S. District Court last week.
Cedar Rapids couple Ron and Traci Weber fulfill a dream with First Avenue Wine House at 3412 First Ave NE. The shop offers 600 to 700 wines, with prices from 7 to 200 dollars, and plans tastings, classes, and customized gift baskets.
Rockwell Collins will supply cockpit displays and avionics for the Boeing 7E7 Dreamliner. All Nippon Airways placed a 50-jet order, the largest initial order for a new Boeing, worth about $6 billion at list prices. The deal could generate $2.5 to $3 billion in Collins' revenue over the program.
Washington AP reports new home sales rose 8.9 percent in March to a seasonally adjusted annual rate of 1.228 million, the strongest gain in nine months. The South led with a 19.3 percent surge to 613,000, while the Northeast saw a 24.3 percent drop to 78,000. The median price fell to 201,400 from 210,000 in February, reflecting ongoing demand and rate movements.
Rain slowed corn planting in Iowa last week yet farmers remain ahead of normal pace. statewide 36 percent planted as of Sunday, southwest 62 percent, central and southeast 48 percent, vs 16 percent typical. Moisture improves soil. forecast warm weather will hasten emergence. Contact Varlene Jucas.
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