Wall Street rallies as Fed minutes lift stocks to two month highs
Markets edged higher after the Fed released December meeting minutes indicating the decision to cut rates near zero. The Dow rose 62.21 to 9015.10, the S&P 500 gained 7.25 to 934.70, and the Nasdaq climbed 24.35 to 1652.38. Rockwell Collins Foundation granted 32000 to Junior Achievement of Eastern Iowa, supporting financial literacy and business education. Rockwell volunteers also assist in classrooms. A Deere retirees class action heads to trial in September over benefits changes, with certification granted for part of the case.
MENTIONED IN THIS ARTICLE
Wall Street
Federal Reserve
Central Bank
Standard & Poor
Rockwell Collins
Cedar Rapids
Rockwell Collins Foundation
Junior Achievement of
Eastern
Iowa
Deere & Co
Moline
Ill
Jimmy John's Opens Second Cedar Rapids Restaurant
Jimmy John's Gourmet Sandwich Shops opened its second Cedar Rapids location at 2315 Edgewood Road NE on January 2, a 43 seat restaurant. It is the fourth owned by T J Graber and Marc Motzer of G M Cedar Rapids 2 Inc. The prior Cedar Rapids restaurant is at 4701 First Ave SE. The chain emphasizes sandwiches with all natural meats and vegetables sliced daily.
MENTIONED IN THIS ARTICLE
Jimmy John’s
Cedar Rapids
Edgewood
T.J. Graber
Marc Motzer
G & M Cedar Rapids #2 Inc
First Ave
Flood recovery openings in Cedar Rapids area
Several Cedar Rapids businesses announce reopening after the June flood. Acme Graphics at 201 Third Ave SW and Klinger Paint and Interiors at 333 Fifth Ave SE report resumed operations. Readers with reopenings should email money gazcomm.com.
MENTIONED IN THIS ARTICLE
Acme Graphics
Third Ave
Cedar Rapids
Klinger Paint & Interiors
Fifth Ave. SE
Money
Gazcomm.com
Gas Price Survey in the Corridor
A selective survey lists gas prices as of yesterday afternoon with figures rounded to the nearest cent. The report notes variation across stations and highlights current affordability trends for drivers in the Corridor.
IRS pledges sensitivity to taxpayers in tough economy
IRS Commissioner Doug Shulman announced five steps to aid taxpayers facing job losses and foreclosures. The agency will suspend collections where pay is impossible, ease missed payments on installment plans, review home equity in offers in compromise, expedite releases of levies, and expand Free File with online forms and a What If section.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Gazette
IRS
Doug Shulman
Shulman
Man
Asoyia Hires New CEO to Steer Growth in Iowa
In Cedar Rapids a plan to resolve leadership gaps at Asoyia leads Curt Nelson to recruit Greg Keeley from Penford. Keeley becomes president and CEO to address undercapitalization as Asoyia expands sales of 1 percent ultra low linolenic soybean oil. He begins weekly cash flow monitoring and seeks $1 million more from original investors to fund 12 to 18 months of growth.
MENTIONED IN THIS ARTICLE
Janet Borholm
Gazette
Asoyia
Iowa City
Cedar Rapids
Curt Nelson
Nelson
Greg Keeley
Penford Products
Keeley
Miami University
Ohio
Iowa State University
Ben Schmidt
Schmidt Farms
Schmidt
Controversial Waterloo coal plant canceled
LS Power pulls the plug on a 1.3 billion coal fired plant in Waterloo citing slow load growth and other advanced regional projects. Environmental opposition and future emission regulations are cited as major factors. Dynegy also ends its joint venture, while Plains Justice condemns new coal plant risks and Alliant Energy faces similar costs.
MENTIONED IN THIS ARTICLE
Dave DeWitte
Gazette
LS Power
Waterloo
U.S
County Boards of Health and Environmental
Wally Taylor
Cedar Rapids
The
Sierra Club
Iowa
Taylor
Elk Run
Ter Dynegy Inc
Bonds still risky option to stocks
The article argues bonds and money market funds may offer low returns but remain safer than stocks, while high yield corporate bonds promise higher teens but risk default. Analysts warn defaults could erode gains, with 2008-2009 crisis framing expectations and guidance toward investment-grade bonds and cautious sector choices.
MENTIONED IN THIS ARTICLE
U.S. Treasury
Steve Savage
Lipper
Mohamed El-Erian
Pacific Investment Management
El-Erian
Tom Atterbury
FPA New Income Fund
Also Mentioned on This Page
Deere
C.R
15Th St
Williams Boulevard
Dubuque & Market Streets
First Avenue
Coralville
David.dewitte
Mark Tade
the Gazette
David
Dewitte
Gail Marks Jarvis
Chicago Tribune
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