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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 23, 2005
Page
14
Wall Street drifted through an indecisive session as oil prices eased after sabotage cut power to Iraq’s export terminals. Crude futures rose slightly to 65.45 a barrel while the Dow gained 10.66 points to 10,569.89 and the Nasdaq rose 5.85 to 2,141.41.
Northwest Airlines operated most hub flights on Monday with replacements filling gaps after the weekend walkout by about 4,400 mechanics cleaners and custodians. Union leaders dispute the airline’s claim of normal operations as lone routes remain served by affiliates Mesa and Pinnacle under Northwest Airlink.
The Treasury Department auctioned 18 billion dollars in three month bills at a discount rate of 3.46 percent, down from 8.47 percent a week earlier. Another 16 billion dollars in six month bills sold at 3.69 percent, down from 3.705 percent last week. The three month rate marked the lowest since 3.4 percent on August 1 and the six month rate the lowest since 3.68 percent on August 8.
A Wisconsin meat packer recalled 1,856 pounds of beef shipped to wholesalers in six states under mad cow disease rules. The beef came from a Canadian cow deemed too old for U.S. import after a Canadian audit, though initial inspectors had allowed shipment. No beef reached Iowa.
H J Heinz Co says Q1 earnings fell 19 percent to 157.3 million dollars or 45 cents a share while revenue rose 5 percent to 2.11 billion. Higher costs offset sales gains though results beat Wall Street expectations and shares gained 39 cents to 36.69 on the NYSE.
Members of John Deere Community Credit Union overwhelmingly approved a new name Veridian at a Sunday meeting. Deere & Co urged the change to avoid public confusion with a Deere subsidiary.
The Eastern Iowa Veterinary Specialty Center, Cedar Rapids, co located at 755 Capital Dr SW, opens Sept 22 as the first 24 hour emergency veterinary clinic in the Cedar Rapids Iowa City corridor. Horizon Veterinary Services Inc will be majority owner with 12 area veterinarians as minority owners.
Iowa advocates warn VoIP users lacking enhanced 911 access risk disconnection after August 29 if they do not acknowledge regulator notices. The issue affects customers whose service blocks emergency location data or calls, with dispatchers sometimes unable to locate or connect calls.
In eastern Iowa drought hit counties, pastures dried by heat and little rain have begun to green after two weeks of spotty storms. Chad Fawcett of Camanche weaned calves early and plans silage rations as corn yields poor. Hay remains scarce and costly while western Iowa reports strong hay crops and adequate statewide supplies.
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