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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Dec 21, 2011
Page
10
The Dow Jones industrial average rose 337.32 points to 12,103.58, up 2.9 percent. The S&P 500 gained 35.95 points to 1,241.30 and the Nasdaq rose 80.59 to 2,603.73, marking the best daily run of the month amid upbeat European signals and housing data.
Rockwell Collins and NASA will define the CNPC data link waveform to enable unmanned aircraft to operate safely in the national airspace. The three year effort aims to shape FAA rules for reliable unmanned flight and involves NASA engineers and experts. In Des Moines Deere & Co expands Ankeny plant with 113 million dollar investment after tax incentives. project adds 400 jobs, funds 35 million capital and 45 million for R and D, with construction to start in spring.
General Mills reports a 28 percent drop in net income in the second quarter as revenue growth could not offset rising costs. The Cedar Rapids based company keeps full year guidance and expects sales and profit gains in the second half, but warns margins will be lower due to cost pressures and the Yoplait acquisition.
Iowa's jobless rate drops to 5.7 percent in November the first sub 6 percent reading in 26 months. Employment rises by 3 700 while nonfarm payrolls slip 1 100 and the civilian labor force holds steady, with 1 562 000 employed statewide.
David Young of Divine Restoration in Cedar Rapids runs a one man shop since 2010. He offers free estimates, no discounts, and a single high quality finish. He builds and restorers items from theater props to a circa 1885 Victor Safe.
Alliant Energy customers will see a February bill increase as a new transmission rider, approved earlier, is applied for the first time. Residential users may pay about $1 more monthly, general service about 14 percent, and large general service about 9 percent, offsetting some by a tax benefit rider and anticipated lower gas costs.
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