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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 05, 2007
Page
9
Wall Street finished higher after a day of volatility as a slide in oil prices and strength in technology stocks offset weak holiday retail reports. The Dow rose 6.17 points to 12,480.69 while the Nasdaq gained 30.27 to 2,453.43 as advancers outpaced decliners 4 to 2.
Freddie Mac reports week 30-year fixed at 6.18 percent unchanged from last week. The 15-year fixed ticks up to 5.94 percent while five-year adjustable rises to 6.02 percent and one-year ARMs fall to 5.42 percent from 5.47 percent.
Boeing Co reports 1044 commercial airplane orders in 2006, surpassing Airbus with a strong year led by demand for the 787 Dreamliner. Gross orders reached 1050. Airbus had 697 firm orders as of November 30, widening Boeing's lead in the sales race.
FBS Financial Group Inc. set James Noyce's annual base salary at 600000 dollars as he becomes CEO effective Monday succeeding William Oddy who retires March 1. Noyce also receives stock options worth 450000 and a performance based restricted stock grant valued at 900000.
Iowa saw a 74 percent drop in filings to 4,786 in 2006 despite weak economy. The decrease stems from the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, higher attorney fees, and stricter means testing favoring Chapter 13.
The Gazette surveyed 16 basic items showing Cedar Rapids shoppers could pay 32.64 in Q4 2006, down 2.6 percent from Q3 and 24 percent above Q4 2005, while Iowa City spent 35.05, up 3.4 percent from Q3 and 6.6 percent from 2005. Nationally, items averaged 39.69. Meat prices fluctuated with regional shifts. milk rose in both cities.
A parent reflects on budgeting during the holidays noting deadlines caused overspending and price lapses. The piece discusses wish lists, marketing tricks, warranty choices, and a family act of adopting a single mother, highlighting lessons for financial savviness.
Riverdeep will shut its Cedar Rapids call center by April 1 eliminating 65 sales and information technology support jobs at 222 Third Ave SE. The Dublin based company acquired Houghton Mifflin last month and will consolidate functions in Boston and other locations as part of cost management. The Cedar Rapids unit traces to Parsons Technology and has changed hands through multiple acquisitions since 1983.
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