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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 16, 2007
Page
9
Wall Street fell as the Fed added liquidity but markets remained jittery over potential trouble at Countrywide Financial and KKR Financial. The Dow dropped 167.45 to 12,861.47, the S&P 500 slid 19.84 to 1,406.70, and the Nasdaq declined 40.29 to 2,458.83.
Peninsula Gaming LLC posted a 950000 loss for the second fiscal quarter after a 2900000 gain a year earlier. Diamond Jo Dubuque revenues fell 9 percent to 10.3 million due to rising competition while Diamond Jo Worth earnings rose 2200000 to 20.7 million. For six months, the firm shows a 500000 net loss.
General Mills disclosed CEO Stephen Sanger earned 12.1 million last year. Base salary 1.2 million plus 2.5 million non equity incentive pay for meeting targets and 520,398 in miscellaneous compensation including 208,380 in savings plan contributions and personal air travel perks, 9,101 for financial planning and 44,158 for insurance.
Heinz shareholders re elected activist investor Nelson Peltz and an ally to the board at the firm annual meeting after reporting first quarter earnings likely to beat expectations. The Pittsburgh company forecast 62 to 63 cents per share vs 55 cents expected, with sales seen rising about 9 percent driven by ketchup beans and soup brands.
A random survey shows gas prices in the Corridor rounded to the nearest cent as of yesterday afternoon. Local drivers noted small variations across stations, with typical pumps hovering around common price points and minor regional differences observed.
Shareholders awaiting a $30 million class action settlement from McLeodUSA face additional delays as Analysis Inc reviews claims and sends deficiency letters. Distribution is tentatively targeted for year end after attorneys approve proceedings and a distribution affidavit is issued. The suit, tied to 2001 stock purchases, was settled after years of legal action without admissions of guilt by four former officers.
U S Senator Tom Harkin toured the Iowa Renewable Energy biodiesel plant near Washington Iowa which can produce up to 30 million gallons per year. Plant manager Al Yoder praised early performance while officials urged federal backing to sustain growth as biodiesel expands alongside ethanol and increases federal vehicle use.
Deere & Co reports third quarter net income of 537.2 million or 2.37 per share on 6.6 billion dollars in revenue, up 23 percent from a year earlier and surpassing Thomson Financial expectations. International sales rise while U.S. and Canada equipment sales fall 5 percent.
The Minneap olis I 35W bridge collapse highlights how life can change in an instant. Disability insurance replaces 40 to 80 percent of pay, with short and long term options. costs vary by occupation and health, often $500 to $1,200 yearly. If unaffordable, Social Security, workers' comp, or employer plans may help.
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