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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 10, 2007
Page
11
Wall Street fell sharply on Friday as investors priced in higher oil costs and cautious remarks from two Federal Reserve officials about possible rate increases. The Dow dropped 56.80 to 12,580.88 and the Nasdaq lost 28.85 to 2,459.82 as volume reached 2.93 billion shares, with more decliners than advancers.
Apollo Management and Ontario Teachers Pension Plan agreed to sell the Pittsburgh based General Nutrition Centers to a Los Angeles firm for 1.65 billion. The deal would exit Apollo, which bought GNC for 750 million four years ago and had aimed for an IPO. GNC has reported sales growth in the last year.
Unseasonal cold pushes energy prices over sixty dollars a barrel for a moment on Friday. Traders see persistent heating needs and OPEC production cut signals, with rising tensions between Tran and the United States aiding a price uptick.
A random survey shows gas prices in the Corridor as of yesterday afternoon with figures rounded to the nearest cent.
The Iowa Supreme Court ruled that Alpha International Inc intangible assets such as Big Wheels and Grand Champions have future value but are not linked to current stock value. The decision reduces Hung's payment to Keener to 4.28 million with a six year plan and assigns a commercial lien on Hung's stock.
The Cedar Rapids market sees prices around 1.12 per pound for oranges, with Bly Blakely of California Citrus Mutual asserting a rebound in weeks ahead. Hy-Vee reports orange deals dropping to 39 cents a pound during the California freeze and notes supply buffers. Florida recovery and production shifts are cited as influencing national juice costs.
Reader note: many organizations provide prescription discounts to offset rising drug costs. VA offers free or $8 30 day scripts for low to mid income veterans treated by VA doctors. Alumni associations, AAA, AARP, and unions also offer varying savings, often 20 to 55 percent on generics.
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