Fed cuts rates as banks move to prime relief
The Federal Reserve lowers the federal funds rate from 6 percent to 5.75 percent in a quarter-point cut aimed at boosting the economy. Banks including Bank of America Bank One and Harris Trust trim the prime rate from 9 percent to 8.75 percent, with commercial loans and lines of credit becoming cheaper for businesses. Consumers may see modest relief and lower mortgage and auto loan rates in coming months.
MENTIONED IN THIS ARTICLE
Associated Press and Gazette
Iowa
Federal Reserve
Fed
Bank of America
Bank One
Harris Trust
James West
Norwest Bank
Cedar Rapids
West
Federal Funds
Peeceia
Farewell to hog business in Coggons farm sale
Doran Zumbach, shown left, auctions swine-handling gear after halting pork production to avoid installing a $140,000 above-ground manure management system required by the Department of Natural Resources. His farm’s existing system was found last September to pollute a nearby stream.
MENTIONED IN THIS ARTICLE
Doran Zumbach
Department of Natural Resources
Marlene Lucas
Coggon
Zumbach
Iowa Department of Natural Resources
Buffalo Creek
Natural Resources Conservation Service
Zumbach quits hog business over pollution costs
Doran Zumbach auctioned his hog equipment after an Iowa DNR finding tied runoff from his 1500 hog operation to a feeder stream. He estimates zero-pollution needs would cost 140000 for an above ground storage system. He plans a cattle-focusing operation to reduce manure and stay in farming.
MENTIONED IN THIS ARTICLE
Zumbach
Gender gaps persist across decades in US test scores
Analysis of six national studies from the 1960s to today shows boys dominate bottom tiers in reading and writing while leading in top percentiles in math and science. Girls cluster in the middle. overall averages are similar, but gaps remain in high and low ends.
MENTIONED IN THIS ARTICLE
Ashington
University of Chicago
Larry Hedges
Michael Timpane
Carnegie Foundation For the Advancement of Teaching
Princeton University
Science
American Association For the Advancement of Science
Hedges
Amoco Stations Closed Prompt Debate in Cedar Rapids
Dealers and corporate officials clash over reasons behind several Amoco service stations in the Cedar Rapids area closing in recent years. Tim McGraw drew a strong crowd at the All Iowa Fair and Music Fest but no encore. Hall-of-Famer Hank Aaron recalls Cedar Rapids friend Horace Garner, a promising minor leaguer who died Wednesday. Details inside.
MENTIONED IN THIS ARTICLE
Amoco
Cedar Rapids
Tim McGraw
Hank Aaron
Horace Garner
Garner
Hanson to Run for Cedar Rapids Mayor Against Smith
Cedar Rapids Finance Commissioner Lyle Hanson and Safety Commissioner J D Smith will vie for the mayoral seat being vacated by Larry Serbousek. Hanson, in his second term, says he has the edge with prior acting mayor experience and a broader grasp of city services. Smith has already announced his candidacy and the two are known as sparring partners on council debates.
MENTIONED IN THIS ARTICLE
Lonnie Zingula
Gazette
Cedar Rapids
Lyle Hanson
J.D. Smith
Hanson
the Gazette
Smith
Larry Serbousek
Don Canney
Serbousek
The People Rest in Simpson Trial After Five Months
After five months of hearings the prosecution rested its case against O J Simpson with autopsy photos and a brief statement. The jury has lost 10 members and alternates and will hear the defense starting Monday as the trial could end before Labor Day.
MENTIONED IN THIS ARTICLE
Los Angeles
O.J. Simpson
Marcia Clark
Lance Ito
Nicole Brown Simpson
Ronald Goldman
Also Mentioned on This Page
Steve Caves
Firstar Bank
Caves
Treasury
Ita
Ucas
Coggan
Iowa Corn Growers Association
McGraw
C.R
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