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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 18, 2009
Page
18
Stocks closed with small moves as the week’s large rally held. Dow rose to 8743.94, S&P 500 940.38, Nasdaq 1886.61 while Citigroup and Bank of America posted hefty profits but warned banks rely on investment activity amid mortgage and credit card delinquencies.
Unions UK nears a deal to salvage national labor legislation by dropping the card check provision. A Democratic official says union leaders will abandon the politically volatile card check to win over wavering Senate Democrats.
Downtown Iowa City businesses launch a food drive to July 31 inviting residents to fill store windows with canned goods. Twenty three local businesses join the Crisis Center Food Bank for Thanksgiving in July, with three gift baskets awarded via drawing for each donation.
Iowa’s unemployment rose to 6.2 percent in June, a 22 year high with 104,100 unemployed. Manufacturing, construction, and professional services led job losses while leisure, education, health services added jobs. Michigan exceeded 15 percent. North Dakota and Nebraska showed lower rates.
Kris Wells and a dozen students install a 40 panel photovoltaic array at Prairiewoods Franciscan Spirituality Center in Hiawatha. Dennis Pottratz of Go Solar! notes high interest in renewables despite costs and limited incentives. The project aligns with environmental education aims as Sister Helen Elsbernd explains. The system is expected to operate for decades, with donor funds redirected from a wind turbine plan due to wind limits.
The Iowa Office of Consumer Advocate asks regulators to reduce Alliant Energy rates by 2.8 percent rather than approve the proposed 16 percent increase. The filing argues the rise would punish customers for costly management decisions, including the ITC Midwest transmission asset sale. The group contends the sale would not raise rates for eight years, while Alliant seeks $87 million more annually to cover transmission costs. The advocate supports recovering reasonable costs from repairs after the June 2008 Cedar Rapids flood but opposes shifts that elevate customer bills.
Green sewers streets and buildings will lure Earth minded tenants to a 170 acre Moss Green Business Park in northeast Iowa City. Stephen Moss and ECO 4 Partners aim to break ground this fall with geothermal wells and a citywide network. Kiewit Corp chosen as general contractor for LEED expertise to attract firms from Illinois, creating local jobs.
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