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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 09, 2008
Page
18
The Dow fell 64.87 points to 12,182.13, a 0.53 percent drop, after a volatile week. The S&P 500 slipped 5.62 to 1,331.29 while the Nasdaq rose 11.82 to 2,304.85 as investors weighed mortgage backed securities risk and broader economic prospects.
Weyerhaeuser Co reports a Q4 loss of 63 million dollars or 30 cents a share on 3.94 billion in revenue, down from a year ago profit of 507 million. The Cedar Rapids area operations include a Cedar River Paper plant as part of its lumber and container business. Flexsteel sees flat sales in fiscal Q2 2008 with soft RV market and hospitality orders. Nucor to acquire SHV North America for about 1.44 billion, expanding global scrap sourcing and adding four million tons annual capacity.
A random survey shows gas prices in the Corridor as of yesterday afternoon, with prices rounded to the nearest cent. The informal tally captures typical pump costs across stations and brands observed in the region.
IPL plans to retire two coal units at the Lansing Generating Station and switch the Dubuque facility from coal to natural gas. The changes hinge on regulatory approval for the 2013 start of Sutherland Station Unit 4 in Marshalltown and accompany a 1.5 billion project expected to generate 630 MW, with 350 MW owned by IPL and the rest by rural coops. The move aims to cut carbon emissions by over 800,000 tons annually, plus wind and efficiency measures would reduce another 2.57 million tons per year.
Local and state leaders pursue a buyer for Victor Plastics plants in North Liberty and Kalona after a Chapter 11 filing by VPI Acquisition. About 400 jobs are at stake as Morris Anderson faces scrutiny over marketing fees and the case moves toward Iowa bankruptcy court.
MONEY TIP from American Express forecasts travel costs rising in 2008. Barbara Weltman suggests teleconferencing, alternative transport, efficient scheduling, and narrowing service area to reduce expenses.
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