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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jan 23, 2010
Page
10
Stocks suffer their biggest weekly drop in over 10 months as Obama faces bank reform push and weak earnings. Dow slides 216.90 to 10,172.98, down 4.1 percent for the week. S&P 500 falls 24.72 to 1,091.76. Nasdaq declines 60.41 to 2,205.29 amid tech pullback and Google earnings.
Tyson Foods Inc. will suspend about 480 of the 1,300 workers at its Council Bluffs plant in mid March as production is shifted to Goodlettsville Tennessee and Sherman Texas to be nearer the South market. Workers may apply for jobs at Tyson elsewhere.
Archer Daniels Midland Co announces a donation of 700 metric tons of rice to the Friends of the World Food Program to aid earthquake victims in Haiti. The gift equals about 12 million servings and ADM will match employees’ donations to the American Red Cross International Response Fund.
Iowa's unemployment rate slipped to 6.6 percent in December from 6.7 percent in November, with 1,100 fewer unemployed. Nonfarm payrolls fell 13,200 month to month to 1,468,800, and year over year losses reached 40,100. The report notes slow recovery, with manufacturing and trade, transportation and utilities hit hardest.
A flood rebuilt Brosh Chapel at the Czech National Cemetery in Cedar Rapids opens this month replacing the Third Street SE facility. The multifunctional digital space will host funerals weddings and family events and can webcast services to distant relatives. The new chapel marks Cedar Rapids first new funeral home since 1985 and showcases tech enabled service expansion.
Dozens of current and former corporate executives from Playboy Enterprises Ben & Jerry s Hasbro Delta Air Lines and others urge Congress to approve public financing for campaigns. They warn fundraising pressure will worsen after the Supreme Court ruling lifting spending limits.
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