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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 08, 2002
Page
12
Major indices fell with the Dow dropping 62.69 to 10,197.05 and the Nasdaq down 22.28 to 2,037.10. Volume totaled 1.63 billion shares as investors trimmed gains while McLeodUSA plans a proxy process and Hooters rumor persists without confirmation.
Linn Rural Electric Cooperative seeks a 6.86 percent overall rate increase to take effect Feb. 8 after filing with the Iowa Utilities Board. Residential bills would rise 8.27 percent for non heat and 6.17 percent for all electric heat. commercial three phase farm service up 13.7 percent, with large power service up about 1 percent or less. The change follows rising expenses and a shift in property tax burdens, with bills first surfacing in April after board approval.
Gifted, a 20 year old Old Capitol Town Center shop in Iowa City, will close as merchandise sells. Owner Wilfreda Hieronymus cites bankruptcy and shifting downtown traffic to Coral Ridge Mall as the main causes. Her daughter Sally Hall manages the store. Hieronymus plans to retire and focus on investments.
MidAmerican picks Council Bluffs Energy Center south of the city for a 900‑megawatt coal fired facility costing 1.4 billion. The plant will add about 77 new jobs at CBEC, employ up to 1,000 during construction, and generate roughly 3.5 million in annual property taxes.
BuffaloCODY acquires Ascend Technologies Inc, expanding its non profit fundraising software and staff to Cedar Rapids. About 12 Ascend employees join BuffaloCODY, with operations moved to 221 Third Ave SE. The deal broadens BuffaloCODYs reach to over 150 institutions in North America, UK and China.
Jimmy John's plans a third Iowa location in downtown Iowa City at 130 KE Washington. The shop aims to open next week with hours 11 am to 3 am daily and delivery until 3 am. Owner Ahmed Merchant, with two Ames stores, expects 40 employees and rapid in and out service.
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