02 Aug 2001
Page 1
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 02, 2001
Page
1
Mercy Medical Center prepares an archive and time capsule for the May opening of a new outpatient pavilion, signaling a milestone project for the facility and its community.
Major McLeodUSA investor Forstmann Little increases stake by converting $1 billion of convertible stock and investing $100 million for 36.4 million shares at $2.75. The deal raises ownership to about 20 percent and reshapes leadership with Ted Forstmann as chairman and Steve Gray promoted to CEO. Returning founder Clark McLeod remains chairman. Mary McLeod holds ~9 percent. Christine Davis to join as COO/CFO and board member. The second quarter results beat Wall Street expectations and the closing is expected by Q3.
The piece notes Korey Stringer and Ernste Autin deaths from heat stroke and cites rising heat-related football fatalities since 1995. Ed Crowley warns players and workers to pre hydrate, cut reps, and pace workload in heat while monitoring weight and fluids.
County Treasurer reports 86,000 tax bills mailed despite indoor heat as the Administrative Office Building lost air conditioning on Tuesday and Wednesday. A bird nest caused a 50 minute Alliant Energy outage affecting 3,000 customers in northeast Linn County with peak demand at 8100 megawatts.
A national report by the National Conference of State Legislatures shows 33 states with budget declines and a third with shortfalls for the first time since the early 1990s. Iowa ended fiscal 2001 with 0.3 percent revenue growth and forecasts a 4.5 percent rise for the current year, amid slower growth and rising Medicaid costs.
The report shows a general budget balance drop across 33 states for the first time since early 20th century cycles, with overall growth at 9.4 percent and several governments posting smaller gains or declines as they enter the fiscal cycle.
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