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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 07, 2004
Page
14
Wall Street was quiet Tuesday with profits booked from the New Year rally. The Dow slipped 5.41 to 10,538.66 while the Nasdaq rose 10.01 to 2,057.37 as technology stocks led gains and analysts called for modest upside ahead.
The U S Post Office reports a record 3.4 billion cards and letters postmarked between Dec 1 and Dec 24, up 78 million from last year. Peak day was Dec 15 with 850 million items, and last minute mail surged on Dec 22. Railroad Development Corp of Pittsburgh completed its acquisition of Iowa Interstate Railroad and Heartland Rail assets, making Iowa Interstate a Heartland subsidiary.
Archibald Candy Corp will sell its Fannie May and Fanny Farmer candy businesses to a yet unnamed buyer and shut its Chicago plant, idling 625 employees after notifying five labor unions. The firm seeks final negotiations while the Cedar Rapids Fanny Farmer store continues under the new owner.
The New York Times reports Monsanto Co and Pioneer Hi-Bred International discussed pricing of genetically modified seeds in talks from 1995 to 1999. Both firms deny illegal price fixing while acknowledging discussions on licenses and profitability.
Central City opens All About Children Day Care Center at 10 Barber St. The city owns it and Central City community schools run the operation. The center houses pre kindergarten and Head Start programs, with capacity for 125 children. Funding came from a 400000 community block grant and a 790000 rural development loan.
U S factory orders decreased 1.4 percent in November after two months of gains. The drop was led by a 41.1 percent plunge in communications and a 2.5 percent fall in durable goods, while analysts expect a quick rebound in the improving manufacturing outlook. Separately the ISM non manufacturing index edged down to 58.6, still in positive territory.
Mexico will consider allowing imports of some U S beef cuts as exceptions to the ban sparked by the first U S mad cow case. Officials said any exception would come months later after confirming adequate U S controls. Mexico bought 384,900 tons of U S beef in 2002, with 106,000 cattle shipped that year.
Washington Post Computer users and spam filtering firms report little change since a new federal law took effect. Spam remains about 60 percent of email traffic, with Cali fornia’s Postini noting 84.9 percent of its million weekly messages are spam. Law targets forged addresses, misleading subjects, address scraping, and requires opt out and physical addresses. Some operators shift operations overseas to evade enforcement.
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