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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 13, 2004
Page
13
Wall Street gains modestly amid choppy trading as markets await fourth quarter results. The Dow rises 26.29 points to 10 485.18 and the Nasdaq climbs 24.86 to 218 with volume at 1.97 billion shares. Airline analysts worry capacity boosts could slow recovery despite improved 2003 expense control.
The Walt Disney Co will shut its Orlando Florida animation studio and cut over 250 jobs as it shifts from hand drawn to computer generated films. Some workers may transfer to Disney’s Burban k California studio where about 600 animation staff will remain.
Hewlett-Packard Schwab Apache Cadence Countrywide Financial and Walgreens will dual list on Nasdaq alongside NYSE listings. The move aims to boost price discovery and trading flexibility while pressuring NYSE to upgrade its floor systems. Executives from Schwab and Walgreens expect increased competition and better investor choices. Deerfield Illinois based Walgreens signed a one year Nasdaq dual listing agreement with listing to start within weeks.
Cedar Rapids welcomes The Dragon night club at 329 Second Ave SE after 200000 in renovations. Co owner Dan Beltz aims for a bar where everyone is welcome gay straight lesbian transexual and will host Unity Wednesdays with house and trance music and Drag King and Queen nights.
Regional carrier Mesaba pilots plan to ratify a new contract that would raise wages and improve work rules to levels seen at Comair and Air Wisconsin. About 844 Mesaba pilots will review the agreement before a ratification vote this month, avoiding a strike that could threaten the carrier and Northwest Airlines. Mesaba operates in 28 states and Canada, mainly from smaller cities to Northwest hubs.
General Motors recalls more than 800000 cars due to a power steering defect that may cause left turns to lose assist and pull right. Eight injuries linked to the issue have been reported. repairs will begin in February at dealers. NHTSA probes also target trucks and wiper failures affecting hundreds of thousands more vehicles.
Adecco the global employment firm based near Geneva faces delays in finalizing 2003 books after uncovering material weaknesses in North American internal controls and related accounting issues. Shares fell to 11.70, down 5.28 dollars, as the company appointed an independent counsel to resolve the problems and warned of publication delays.
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