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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 20, 2009
Page
10
The market extended a volatile streak as energy demand expectations lift shares. Dow rose 61.22 to 9279.16, S&P 500 gained 6.79 to 996.46, and Nasdaq added 13.32 to 1969.24 amid cautious trading and oil inventory relief.
Rockwell Collins cut 47 jobs in Melbourne Florida and five in Cedar Rapids due to weak demand in commercial aerospace. Deere & Company posted a 27 percent drop in third quarter profit as global economy softens tractor and equipment sales, though it maintained a $1.1 billion annual profit forecast.
Transportation Secretary Ray LaHood assured dealers they will be reimbursed for rebate payments fronted to customers under Cash for Clunkers. He acknowledged delays and said frustrated dealers will receive funds, noting they often rely on rapid repayment to lenders.
Jackie Cook, named postmaster for Cedar Rapids, vows to maintain high customer service and efficiency as the USPS faces a 2.4 billion quarterly loss amid a recession and Internet competition. The facility combines city delivery with a processing center, serving about 300 workers and handling 600 000 to 700 000 pieces daily.
Washington officials urge U S firms to prepare for a possible H1N1 outbreak by ensuring vaccine access for at risk workers and encouraging symptomatic employees to stay home. Guidance stresses reduced staffing plans, staggered shifts, and remote work to protect operations and the economy.
Authorities plan to have 45 million doses of the HiN1 vaccine ready by mid October. Work areas will be kept clean, hand sanitizers and supplies stocked, and employees sent home at the first sign of flu symptoms.
U S Secretary of Agriculture Tom Vilsack addressed dairy and pork producers at the Iowa State Fair rural issues forum. He urged trade reopening after swine flu hit pork sales, defended cap and trade as necessary for global leadership, and noted rural uninsured rates while acknowledging farm bill loan restructuring details. Craig Lang of the Iowa Farm Bureau pressed for specifics before support.
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