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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 12, 2008
Page
21
Stocks fluctuated as investors weighed danger to Fannie Mae and Freddie Mac. The Dow dropped 128.48 to 11,100.54, the S&P 500 slid 13.90 to 1,239.49, and the Nasdaq fell 18.77 to 2,239.08.
The government released the final stimulus payments for returns filed before April 15 while stressing continued processing for later filings. The IRS urges about 5 million Social Security recipients and veterans who do not usually file a return to file this year to qualify for checks.
Oil traded to a record over 147 per barrel amid rising hostilities between the West and Iran. U S and Israel concerns about supply disruptions in Nigeria and Brazil weighed on markets while natural gas futures slipped after a earlier peak above 13.69 per 1000 cubic feet.
United Airlines announces an agreement with the International Association of Machinists to offer early retirement packages to up to 400 customer service and ramp employees. Eligible workers are at least 45 years old with 15 or more years of service as of Sept. 7. Severance scales with tenure and includes retiree travel benefits.
A selective survey of gas prices in the Corridor as of yesterday afternoon reports prices rounded to the nearest cent. Readings vary by station with some stations offering slightly lower or higher per gallon figures.
MidAmerican Energy begins replacing 10 miles of natural gas mains and 900 services in southwest Cedar Rapids to restore about 1 200 customers. Water infiltrated meters and mains during flooding, with some work to minimize lawn disruption via horizontal boring. Gas service restoration planned for the week of July 28 and August 1 downtown office reopens pending permits.
On Friday the Cedar Rapids Job and Small Business Recovery Fund opened with a million dollars to aid flood damaged firms staying in the city. About 135 applications filed by midafternoon, with base grants of 15000 and up to 5000 more for reinvestment in flood zones. Local business owners including Skinflix Custom Ink and Schumacher Carpets seek rapid relief to preserve operations and avoid layoffs or closures.
Tips from the Insurance Information Institute on adding teens to a policy, assigning them to cheaper cars, boosting liability coverage, raising deductibles to cut premiums, and shopping online for best rates.
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