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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 04, 2004
Page
16
Stocks ended fractionally higher after volatile trading as terrorism fears returned following ricin powder discovery and Senate buildings were closed in protest. The Dow rose 6.00 to 10,505.18 and the Nasdaq advanced 3.06 to 2,066.21 amid a thin market with more decliners than gainers.
Whirlpool Corp reported a fourth quarter profit of 125 million dollars, 1.76 per share, with revenue of 3.36 billion as productivity gains in North American and European operations outweighed a year ago loss and beat analyst expectations.
Gadzooks Inc. filed for bankruptcy protection in Dallas seeking court approval to close about 156 stores as it pivots to selling clothes only for girls. The Carrollton company with 410 stores in 41 states operates Cedar Rapids and Coralville outlets in Eastern Iowa.
Iowa Senators and Representatives react to Bush's 2.4 trillion budget. They warn rural areas may lose aid for value added enterprises, broadband and rural health while defense and homeland security rise. Grassley notes war priorities limit domestic increases amid fiscal strain.
Basil Hadjis of Verdon Inn partners with Tim Palmer to bottle Basil's Creamy Feta Dressing and Summer Salsa. They sell at Hy-Vee and New Pioneer Co-ops after early-morning production, sampling at stores to boost sales. The duo aim to expand beyond cedar rapids markets while keeping the Greek flavor.
Schneider Electric Square D plans moving several power supply product lines from Cedar Rapids to Columbia Missouri over the next year. Up to 50 hourly positions could be cut at the Cedar Rapids plant, which employs about 450 people, while space freed could expand the design and test center. Union talks pending with Teamsters Local 238 as the non union Columbia plant may gain floor space.
Americans spend about 10 percent of disposable income on food while farmers receive about 21 cents of every dollar. The Linn County Farm Bureau Women’s Committee hosts a 3 to 5 p.m. event at Country Store in Central City with gift certificates and brochures, as other groups plan related acts and charity.
Monsanto Co. won an eight year patent dispute with Dow AgroSciences over synthetic Bt genes used to protect plants from insects. The U S Patent and Trademark Office ruled Monsanto scientists were first to invent the technology, ending litigation tied to Mycogen Seeds. Dow AgroSciences plans to study its options.
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