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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Feb 28, 2001
Page
17
A mixed market retreat saw the Nasdaq finish at 2207.82, its lowest close since late 1998, as consumer confidence faltered and investors awaited the Fed's next move. Dow fell to 10636.88 with 8 to 7 declines over 1.31 billion shares traded.
Mediacom Inc backed by $2.2 billion cash will acquire AT&T Broadband Iowa, adding 840000 basic cable subscribers in Cedar Rapids, Iowa City, Waterloo, Cedar Falls, Quad Cities, and Des Moines. The deal makes Mediacom Iowa’s largest cable operator and doubles its size in two years.
Jobless rates increased in Linn and Johnson counties in January. Linn employment fell to 112,200 from 113,400, while Johnson employed 67,800, down from 67,700. Iowa’s overall rate held at 2.5 percent with 1,538,800 employed statewide. The Sara Lee Bakery closure in New Hampton contributed to Chickasaw County’s high rate.
Cedar Rapids Iowa Utilities Board approved Alliant Energy Performance Contracting to pay energy service providers a risk premium if they meet agreed energy savings. The program targets smaller projects under 500000 dollars and pays a lump sum after three years, funded with a 1992 budget of 1.71 million dollars.
Berlin authorities confiscated uneaten British food and all meat and milk products from passengers to guard against foot-and-mouth spread. Hunting trophies and hides were added to warning items as spot checks and marked trash cans moved into airports amid tests showing British sheep exposure and ongoing culls. France also announced destruction of 20 000 British sheep.
Key data show consumer confidence, durable goods orders, and new home sales dropping sharply. The Commerce and Housing Departments report a 6 percent January decline in durable goods and an 11 percent tumble in new home sales to an annual rate of 927,000, sparking Fed rate-cut speculation as Greenspan prepares to testify.
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