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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 19, 2010
Page
15
Stocks closed modestly higher after retail earnings reports with the Dow at 10,415.54, up 9.69 points, the S&P 500 at 1,094.16, up 1.62, and the Nasdaq at 2,215.70, up 6.26. The day showed a seesaw session as investors weighed quarterly results.
Rockwell Collins of Cedar Rapids has been awarded a $140 million initial contract by the U.S. Air Force to develop and deliver the Common Range Integrated Instrumentation System CRIS as prime contractor. With options the contract value exceeds $300 million.
Blackstone Group will invest about 500 million dollars for shares in General Growth Properties Inc after it exits bankruptcy protection. General Growth, based in Chicago, owns Coral Ridge Mall in Coralville. A judge may begin hearing the plan before month’s end.
Holmes Murphy & Associates, with Cedar Rapids offices, advanced to 22nd among the 100 largest U.S. independent risk management and insurance brokerage firms in Business Insurance's July 19 issue. The firm had been 24th in 2009 and has climbed from 71st in 1992 over 18 years.
General Motors Co. filed the initial 700 page registration with the U S Securities and Exchange Commission starting the path to an initial public offering to shed government ownership. The move comes Wednesday as regulators require documentation before public shares can be sold.
The Brown Bag Deli operates in a former office closet at 1030 Fifth Ave SE Cedar Rapids inside a building housing Kirkwood Resource Center and medical offices. Co owners Claudio Palmer Rosa Kendrick and Nathan Kendrick describe catering delivery and breakfasts and lunches to office workers and visitors. They aim to expand as Kirkwood classes resume and foot traffic rises, with daily specials and a weekly free sandwich drawing.
Alliant Energy discontinued its temporary flood era steam boilers in April after the Cedar River flood damaged the Sixth Street generating station. Quaker Oats was the last major user. Coe College and St Luke's Hospital opened a joint new plant on August 1. Mercy Medical Center has a new plant and a September 7 grand opening is planned.
Deere & Co reports a 47 percent rise in third quarter net income to 617 million dollars and 1.44 per share as agricultural and turf equipment sales grow 12 percent and forestry sales surge 59 percent. revenue climbs 16 percent to 6.84 billion while outlooks anticipate weaker Western Europe and a lower fourth quarter.
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