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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Aug 26, 2004
Page
20
Stocks rose on light volume as oil prices slid for a fourth straight session. The Dow gained 83.11 to 10,181.74 and the Nasdaq climbed 23.83 to 1,860.72 while advancers outpaced decliners on the NYSE.
The AFL-CIO asks the SEC to investigate Penford Corp for a misleading 8K disclosure about a Cedar Rapids plant strike. Jeffrey Fiedler notes Penford omitted that the offer cuts retiree health care for new hires and many current workers, ends defined benefit pensions for newcomers, and raises health premiums.
A lunch hour crowd was turned away at Burger King on 395 33rd Ave SW as an outside sewage line backed up into the restaurant. Linn County Public Health environmental specialist Sharon McCullough said the eatery was closed from 12:30 to 2:30 pm while sewage drained into the women's restroom and areas near an ice machine and sinks. The line was repaired and ice and prepared foods were discarded before the restaurant reopened. A manager declined comment.
Quiznos Corp selects PepsiCo as its beverage supplier, ending a 23 year Coke relationship dating to 1981. The deal covers 3600 Quiznos restaurants in the United States and Puerto Rico beginning February.
Mediacom plans to begin unlimited local and long distance telephone service early next year through a Sprint partnership. The bundle prices target about 40 dollars per month with cable plans, excluding extras like caller ID. VoIP will be a core technology, with broader plans including potential North American dialing at lower rates.
North Liberty welcomes Eggy's a central sports bar by Mark Eggleston former Fieldhouse owner. The venue features seven big screens and a warm interior with 190 seats and about 25 staff. Menu includes The Fun Hog Floyd of Rosedale and The Heisman entree. hours start 11 am daily with varying close times. Eggleston aims for a quick, casual dining experience for local workers and sports fans.
Northwest Airlines filed a federal suit in Minnesota accusing Sabre of breaching their 2003 contract by biasing Northwest flights in its display and charging higher fees. Northwest plans sept 1 charges of 7.50 per round trip via GDS, plus 5 at Northwest offices and 10 at U S and Canadian airports.
Oil trading turned lower as fears of shortages eased and profits trimmed, with light crude near 43.47 a barrel. Analysts cite Iraq exports, U.S. gasoline stock levels, and reduced demand as factors in the decline from near 50.
Durable goods orders climbed 1.7 percent in July led by planes machinery and communications equipment. New home sales dropped 6.4 percent to a 1.13 million annual rate, the steepest decline since December as June revisions showed weak activity.
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