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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 02, 2008
Page
18
Wall Street and commodity markets in the United States and most countries were closed Tuesday for the New Year’s holiday. Trading is to resume today with markets also closed on January 14 for Martin Luther King Jr Day and February 18 for Presidents Day.
Veridian Credit Union based in Waterloo awarded Cedar Rapids based Young Parents Network 35000 under its Inclusive Community Grant. The funds support early childhood parent education and family support activities for at risk families with Cedar Rapids branches involved.
In November the Quad Cities International Airport in Moline Illinois saw a record 39 764 passenger boardings across five airlines up 1 179 from last year Northwest Airlink led with 10 648 passengers AirTran carried 9 824 passengers Meanwhile The Eastern Iowa Airport in Cedar Rapids reported 91 770 passengers an 8 percent rise from the 2006 record.
Jeju Air of South Korea orders five Boeing 737-800s to support future growth. Boeing puts list value at 370 million dollars, with discounts common in practice.
AK Steel Corp of Ohio plans a $230 per ton surcharge on electrical steel orders shipped in January citing higher raw material and energy costs. The move signals potential price increases for many manufacturers reliant on steel as a key input.
Random survey lists gas prices in the Corridor as of yesterday afternoon with prices rounded to the nearest cent. Coralville reports figures along First Avenue.
McClatchy reports rising gift card fraud as buyers turn to secondary markets like Plastic Jungle in Clovis California. Industry experts urge caution while Plastic Jungle touts new protections including card value verification and a $1000 purchase guarantee as it seeks to capture an $8 billion annual loss from unused or expired cards.
The Entrepreneurial Development Center raises its annual Client Expo profile moving to Cedar Rapids Country Club on Jan. 8. The event will display products from 15 new exhibitors plus returning firms, aiming to boost local entrepreneurship and connect attendees with bankers and investors.
Terpenoid Therapeutics Inc a University of Iowa spinout in Coralville has received 224000 in Phase I SBIR grants via the Small Business Administration from the National Cancer Institute The funds support two drug development programs one targeting cholesterol pathways for metastatic bone disease and prostate and breast cancer and multiple myeloma the other for brain cancers Founders Dr Raymond Hohl and David Wiemer lead the company which plans to move from UI Oakdale Research Park to the UI BioVentures Center later this year.
Market wrap for 2007 notes Dow ends at 13365.87 with a 7 percent gain from year end 2006 and forecasts a turbulent 2008. S&P 500 saw many top individually fall sharply, with 125 stocks down 20 percent or more. Loomis Sayles cites ongoing risks from housing, credit squeeze, and potential recession, shaping cautious 2008 stance.
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