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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 22, 2002
Page
16
Brief market summary shows the Dow down 106.49 points to 9,834.68 and the Nasdaq at 1,716.24 after tech selling. Decliners outpaced advancers 3 to 2 on the NYSE in a session marked by a broad equity retreat.
A 12 member panel finds no proven ecological harm from current biotech crops but warns lack of monitoring may hide damage. It urges stronger USDA review, full genetic sequencing, and external scientific input while noting EPA oversight for self pesticide producing crops and broad, minimal regulation for herbicide tolerant varieties.
The UCS report finds Iowa's renewable output would exceed the national 20 percent target by 2020 due to strong wind resources. It predicts 15 percent renewables by 2010 and 46 percent by 2020 with $2.2 billion in new investment and $208 million annual savings, plus $30 million yearly in farm lease payments.
The Detroit Free Press publication lists four Iowa Kmart stores in Clinton Des Moines Fort Dodge Spencer and Webster City as possibly targeted for closing. The document, of unknown origin, also names 291 stores nationwide as part of Kmart Corp bankruptcy restructuring.
Detroit Free Press list names Kmart outlets in Des Moines Fort Dodge Spencer and Webster City as potential closures while the chain evaluates leases and performance. Kmart aims to file a closing list by March 11 and hire a liquidator to sell store contents in Chicago bankruptcy filings. The company remains active in Iowa with Big K formats in several cities.
Iowa House File 2328 to require free 4 H services from Iowa State University for 4 H members died in the Education Committee. Rep. Leigh Rekow said the bill would have eliminated all 4 H membership fees, though ISU Extension lobbied against it. ISU Extension officials warned of program impact and ongoing budget cuts.
J C Penney Co reports a 95 million fourth quarter profit in Plano Texas reversing last year's losses. Despite higher earnings analysts expect full year earnings to miss forecasts due to pension fund income and restructuring charges. Shares fall over 11 percent following the results.
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