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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 23, 2007
Page
9
Wall Street closed mixed after Iran refused to suspend uranium enrichment, dimming a chip driven rally led by Analog Devices. The Dow fell 52.39 to 12686.02 while the Nasdaq rose 6.52 to 2524.94 as mortgage rates eased across five loan types.
Agriculture Department officials announced a first major overhaul of food safety inspections in a decade. The plan targets about 250 locations or five percent of U S meat and poultry plants, aiming to boost oversight where E coli and other germs pose higher risks while reducing visits to lower risk sites. Shares of Weyerhaeuser slipped as the Forest products firm flagged a first quarter charge of 30 to 35 million dollars tied to asset divestitures and ongoing talks with Platinum Equity.
Iowa may exhaust LIHEAP funds by April 15 despite a 30 percent cut in average assistance. U.S. Sen. Tom Harkin urged $200 million in emergency funding. Hawkeye Area Community Action Program administers the program. Utilities report 223,232 past-due residential accounts, highlighting rising disconnections amid high energy costs. State LIHEAP director Jerry McKim warned of health risks for fixed-income Iowans who may choose heating over meds or food.
Metal Design Systems Marion Mixers and Cedar Rapids firms adopt LTL Rater from Unishippers to compare up to 30 carriers in real time. Real time quotes replace quarterly CDs, enabling consolidated invoices, supplier shipments, and volume discounts. The system prints bills of lading and labels, and can include freight on customer purchase orders.
U S Labor Department reports 332000 initial claims last week, down 27000 from the prior week after storm related spikes. The four week moving average rose to 328000, while the unemployment rate edged up to 4.6 percent in January, with economists noting volatile seasonal adjustments ahead.
DePauw University sophomore Ryan Tinker and Zach Koch started BookSnag.com in January 2006 with $500 to help students at Greencastle Indiana save on used textbooks. The site lets students list prices, buyers search by title, and earns revenue from Amazon referrals. The idea grew as entrepreneurship gains momentum among young students during Entrepreneurship Week USA.
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