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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 19, 2004
Page
16
Nasdaq gains 2 percent as investors price in Google Inc. IPO while the Dow climbs 1.1 percent to 10,083.15. Monsanto ends antitrust inquiry into glyphosate. Nike recalls 9,000 Get-Go shoes. Dillard's Q2 loss narrows but misses expectations amid weak sales.
Rydell Chevrolet buys the former Advantage Automotive Group Chevrolet dealership at the Center Point exit off I 380 confirmed by GM Jeff Smock. RAM Automotive plans sale of Advantage Chrysler Dodge Jeep Monticello to Runde Chevrolet East Dubuque. Smock notes rock bottom pricing and a five day like it or return policy along with noncommissioned sales staff. About 68 former Advantage employees join Rydell. Rydell operates Waterloo dealership 20 years with 180 new and 100 used vehicles.
Google Inc narrowed its IPO expectations on Wednesday with a target price of 85 to 95 dollars per share and a reduced offering of 19.6 million shares. The company awaits SEC approval and final price, bidders allocations, and winner notifications before trading could begin.
The 1990s rise of Google from BackRub origins at Stanford to a dominant Internet search engine is marked by rapid funding, key product launches, and a bumpy IPO. Founders Larry Page and Sergey Brin built a company praised for innovation yet questioned for ambition and risk.
Federal officials announced a temporary deal to curb peak hour arrivals at O'Hare International Airport from Nov 1 through April end. United and American Airlines will reduce 37 daily peak arrivals to ease nationwide flight delays, with broader network gains expected.
United and American will cut peak arrival numbers by 20 and 17 respectively at Eastern Iowa Airport in Cedar Rapids. The airport sees 12 daily United Express and American Eagle flights to Chicago. impact on these services is unclear. The cuts follow negotiations in Washington with 16 airlines and the FAA to ease delays at O’Hare. United and American, together accounting for about 86 percent of Chicago-area flights, had already agreed to earlier reductions.
AgStar Financial Services proposes a merger with Farm Credit Services of America sparking debate over potential for a foreign owned buyout. Rabobank already offered to acquire Farm Credit Services, prompting reviews by the board and borrower stockholders. Senators Johnson and Daschle urged Senate hearings on Rabobank proposal before September.
About 1,500 USW members at Alcoa Davenport Works will air grievances over outsourcing of union jobs. The USWA and Alcoa will form a team to identify common outsourcing issues across plants in Davenport Evansville Rockdale Alcoa and Davenport. A follow up meeting to seek solutions is set for no later than September 15.
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