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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 05, 2005
Page
22
Investors cheered a weaker than expected Labor Department report showing 146000 new jobs last month, with December gains revised down to 133000. The Dow rose 123.03 to 10716.13 and the Nasdaq gained 29.02 to 2086.66 as advancers outpaced decliners.
General Electric will lay off 43 more workers at its West Burlington plant, following 85 layoffs in early January. Spokeswoman Sharon Fisch cited a continued softening in orders and a need to manufacture fewer switchgear products. The plant, which makes low and medium voltage electrical switchgear, will employ about 550 after reductions.
Deere & Co announces a new assembly facility in Orenburg, Russia, to supply seeding carts and air seeding tools, aiming to cut logistics costs and grow as a regional agricultural equipment player. The plant sits in the southern Ural region about 800 miles southeast of Moscow.
AT&T agreed to be acquired by SBC for 16 billion dollars signaling reunification of local and long distance markets. Analysts foresee more deals as Verizon BellSouth and MCI Qwest consider moves amid regulatory shifts and rising wireless and IP calling cut into traditional local service.
CompleWare Corp, a Iowa City based software supplier for pharmaceutical research, moves to a new 22,000 square foot data center and headquarters at 2865 Stone Court in North Liberty. CIO Roger Carney notes the facility is built to withstand fires, tornadoes, and outages and supports thousands of clinical trial sites with a VOIP system. John Weiler founded the firm near Iowa City, focusing on electronic data capture for sponsors with emphasis on quality, speed, and ease of data entry.
Eagle Window and Door in Dubuque begins a sale process led by Linsalata Capital Partners, aiming to divest the business after acquiring it for about 65 million dollars in 2002. CEO Dave Beeken says operations will continue normally as the sale unfolds over several months. The Dubuque plant makes aluminum clad and wood windows and doors, adding about 100 jobs to reach roughly 900 employees.
Sen. Saxby Chambliss signals a push to confirm Iowa farmer Tom Dorr to the Agriculture Department after a strengthened Republican majority. Democrats under Sen. Tom Harkin threaten a filibuster, with 60 votes needed to advance despite a prior 2003 derailment and a $34,000 repayment.
The Hawkeye Labor Council elected Justin Shields to continue as president for 2005 alongside seven new executive board members and one new officer. Re-elected officers include Rick Becker and Ken Cable of SMW Local 263 and Jan Aldrich of AFSCME Local 231. Brian Heins of IBEW Local 1634 becomes second vice president. Newly elected board members include Scott Smith, Tom Lytle, Dick Petersmith, Greg Grant, Tom Haugen, Kathy Singer-Glasson, and Tom Anthony. re-elected board members include Larry Schmidt, Joie Welsh, Al Hard, Charles Davis, and Joe Ironside. Trusteess are Jo Ellen Redenbaugh, Charley Zahorik, and Rich Hockey.
The FCC reports cable television rates rose 5.4 percent in 2003 with the average monthly bill reaching 45.32 dollars on January 1, 2004, following a 7.8 percent rise the prior year. The agency did not explain why the increase slowed while noting ongoing competition from satellite providers DirecTV and Dish Network.
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