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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 05, 2010
Page
10
The Dow jumps 155.91 to 10,583.96 while the S&P 500 gains 17.89 to 1,132.99 and the Nasdaq climbs 39.27 to 2,508.42 as manufacturing news from China to the United States signals a stronger economy.
The Institute for Supply Management reported a 55.9 manufacturing index reading in December, up from 53.6 in November, marking the fifth straight month of expansion and the highest since April 2006. The new orders index rose to 65.5 from 60.3, a five year high.
Rockwell Collins has completed the purchase of AR Group Inc and its affiliates including Air Routing International in Cedar Rapids. The merger will be neutral to Rockwell Collins' fiscal 2010 earnings. Air Routing has over 30 years of experience in corporate flight planning and trip support services.
Oil prices gain with a February contract settling at 81.51 per barrel on the NYMEX after reaching 81.68. Natural gas climbs about 6 percent to 5.884 per 1000 cubic feet as frigid winter weather sweeps the United States.
Emily Brown seeks quirky earrings at Brewed Awakenings in Cedar Rapids and discovers The Shop Next Door at 1011 13th St SE. Heather Younker runs the artists collective, featuring local makers on a 35 percent commission with weekly artist nights and plans for Saturday classes.
Blend Inc a downtown Cedar Rapids restaurant that reopened after the June 2008 flood will close Thursday because of heavy debt and a weak economy The owners say the flood loss the collapse of nearby theaters and a slow spring and summer left them undercapitalized and unable to recover despite SBA funding
U S consumers and businesses filed 1.43 million bankruptcy petitions in 2009, the seventh worst year on record. December filings reached 116,000, up 22 percent from the prior year, with Arizona Wyoming Nevada and California showing the steepest increases.
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