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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 23, 2012
Page
6
Stocks closed lower for the first time in four sessions as the Dow fell 27 to 12,938 after a brief assault on 13,000 the prior day. The S&P 500 slipped five to 1,357 and the Nasdaq lost 15 to 2,933. Volume was lighter. decliners outpaced advancers roughly 3 to 2. Investors paused amid Greece bailout uncertainties.
Fuller Brush Co. files for bankruptcy protection after decades of door to door sales. The 100 year old firm, famous for brushes brooms and cleaning products, employs about 180 people with assets and debts estimated between 10 and 50 million dollars.
Heritage Auctions in Dallas sold a large childhood comic book collection in New York City for about 3.5 million. Detec tive Comics No 27 the Batman debut sold around 524000, Action Comics No 1 around 299000, Batman No 1 about 275000, and Captain America No 2 about 114000.
Edvard Munch's 1895 The Scream, one of four versions, heads Sotheby's May 2 sale in New York, valued at at least 80 million. The work stands as a premier piece in the Impressionist and Modern works category.
Iowa City and statewide home sales climbed in January while Cedar Rapids slipped from December. Iowa City area sold 110 homes with median price about 165606, while Cedar Rapids moved 175 units with median 140494. Nationwide existing home sales grew 4.3 percent to a 4.57 million pace.
In Eminence Missouri locals report a surge of dumped wild horses along the Current and Jacks Fork rivers. The Missouri Wild Horse League warns stallions drive off old pets and starving animals struggle to forage while coyotes and occasional cougars threaten foals. Some horses branded in Utah were claimed adopted in Missouri. The group cites economic strain and a 2006 federal ban on horse slaughter as factors.
President Obama outlines a plan to cut the corporate tax rate from 35 to 28 percent, end many subsidies and loopholes, and impose a minimum tax on foreign earnings. Manufacturers would face a 25 percent effective rate, with elimination of oil and gas subsidies and jet-industry breaks. The proposal faces political hurdles in an election year.
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