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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Dec 04, 1981
Page
24
The Federal Reserve lowers its basic discount rate for banks from 13 percent to 12 percent starting Friday, the second 1 point cut in just over a month. The action aims to align with softer market rates and could modestly ease credit costs though not instantly boost lending to individuals or firms.
Target stores in Cedar Rapids and other cities host an eighth annual holiday shopping party for seniors and handicapped shoppers. The event runs from 7 30 to 9 30 p m Sunday with free refreshments gift wrapping volunteer aides cleared aisles rest stops at participating Cedar Rapids locations 4501 First Ave SE and 3750 Williams Blvd SW.
Marriott Corp will acquire Host International Inc for 149 million dollars under a preliminary merger agreement announced Thursday. Marriott, a hotel and entertainment firm, will pay 31 dollars per Host share of 4.8 million shares. Host, based in Santa Monica, mainly runs merchandise and food and beverage sales at airports. DFS Group Ltd will drop its competing bid of 29.25 dollars per Host share in exchange for certain options.
Washington reports October orders fell 9.1 percent the sharpest drop in seven years with durable goods down 7.9 billion led by autos and machinery. Inventories rose 0.6 percent keeping 1.57 months of supply backlog. shipments declined 4.1 billion the fourth straight month.
The National Park Service announces application packets for seasonal jobs at historic sites and national parks nationwide. Opportunities include park ranger technician and laborer roles, with limited openings for lifeguards landscape architects engineers and other specialists. Applicants must be U.S. citizens 18 or older. Deadline January 15.
Jane Pauley states she has no personal desire to impact the world and rejects politics as a path for being a force for good, preferring television work instead. The remark contrasts public service and entertainment careers.
Wall Street ended with a modest uptick as durable goods orders fell 9.1 percent fueling late buying. The Fed cut the discount rate to 12 percent, the Dow rose 1.24 to 883.85, and the NASDAQ slipped 0.45 to 199.90 amid mixed volumes and active trading in Marathon Oil, Mobil, and AT&T. Industry indices showed small gains and losses as investors reassessed year start.
The 6th U.S. Circuit Court of Appeals refused to overturn a Cleveland federal judge’s injunction blocking Mobil Corp. from pursuing its 6.5 billion bid to acquire Marathon Oil. Mobil gained emergency review and set arguments for mid December while rival U.S. Steel’s competing bid also awaits court action.
UPI reports five major U.S. automakers sold 431,726 cars in November, an 18.43 percent drop from 1980 and the lowest daily selling rate since 1959. Chrysler and GM declined, Ford eased, AMC slid 30 percent, while VW of America fell 13.1 percent.
A Cedar Rapids service promotes contemporary life insurance options with a DIY guide titled Worth a Quarter of a Million Plus. It invites readers to inventory their estate and calculate settlement costs, offering contact at 307 Professional Park Building 119 3rd St NE Cedar Rapids IA 52401 and phone 319 364 6143.
Equitable Life Insurance Company of Iowa posts contact details at Des Moines location 604 Locust Box 1635 for policy inquiries and correspondence. The brief notice lists office address and postal box in Des Moines.
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