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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 20, 2004
Page
13
Wall Street watched a tepid profit outlook from 3M Co. and a tentative Molson Coors merger talk. The Dow fell 45.72 to 10,094.06 while the Nasdaq edged up 0.68 to 1,883.83.
Boeing unveiled a 2.96 billion dollar sale of four 777-300ER jets to Emirates and touted 25 000 new planes worth about two trillion dollars over the next two decades. Airbus warned it would beat its delivery target as it projects growth with the A380 and higher fleet activity.
Rockwell Collins unveils the Airshow 21 integrated cabin electronics system aboard Bombardier Global 5000 at Farnborough and announces several contracts. Initial flight tests start September with certification in October.
Iowa crops show good to excellent ratings with 57 percent tasseling and 38 percent silking in corn. Jim Fawcett notes moisture supports growth while some northern areas have excess rain and southern areas are drier. Soybeans are blooming 69 percent with 19 percent setting pods, and hay producers face baling challenges from wet humidity. Topsoil and subsoil moisture are largely adequate. Continued rainfall remained below normal last week. Contact information provided for reporter Marlene Lucas.
Kinseth Hospitality plans a major renovation and rebrand of the Radisson Inn of Newton. The 78 room property will become the HomeRidge Inn and Suites in mid August with extended stay and studio suites. Upgrades include hotel lobby public areas meeting rooms and a new club breakfast room. Carlson Hotels shifts the Radisson brand to compete with Weston Hilton and Intercontinental. Kinseth operates 28 hotels and this is its only Radisson franchise.
Delta Air Lines reported a 1.97 billion dollar net loss for the quarter ending June 30, its worst three month showing. The Atlanta carrier warned of possible bankruptcy without deep pilot wage cuts but added 2 billion dollars in unrestricted cash and 150 million in added liquidity from third party financing.
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