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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 24, 2008
Page
16
Stocks rose for a second straight session as oil declined over 20 dollars from a peak. Crude settled at 124.44 a barrel on the Nymex, while the Dow gained 29.88 to 11,632.38 and the S P 500 climbed 5.19 to 1,282.19 and the Nasdaq 21.92 to 2,325.88.
Whirlpool Corp reports a 27 percent drop in second quarter profit as higher material and oil costs weigh on results and U S demand slows. CEO Fettig warns of a tough economic environment while the firm trims expectations for U S and European demand and full year earnings. PepsiCo posts a 9 percent Q2 profit rise on international growth with Quaker back at Cedar Rapids expected to resume full production by mid August.
Toyota Motor Corp led in global sales for the first six months, moving 4,817,941 vehicles and surpassing General Motors by 277,532. Toyota reported a 2 percent rise while GM saw a 3 percent drop, continuing a trend from 2007 where Toyota had outsold GM by about 50,000 vehicles.
A selective survey shows gas prices as of yesterday afternoon across the Corridor. Prices are rounded to the nearest cent.
In Cedar Rapids Alliant Energy updated about 50 steam customers on progress to connect temporary package boilers to the low-pressure lines damaged by flooding. Officials warned the timetable remains weeks if not months away with high early costs and guidance to compare installing own boilers against staying on steam.
Erin Dick, 20, Solon, worked front desk at Sleep Inn North Liberty during a flood year, learning hospitality challenges amid 100 percent occupancy. Managers note influx of relief workers and seasonal hiring at Cedar Rapids area hotels, colleges, and Kirkwood lodging program directing career paths.
Cambridge Staffing of Cedar Rapids contributed 100000 to a recovery loan pool aimed at helping flood affected businesses stay in the city. The firm helped about 80 locals in cleanup and reconstruction projects with hourly wages from 10 to 16 dollars and provided safety and travel support.
Captain Buddy Winn led 30 soldiers in a seven week Financial Peace University program amid an Iraq deployment. The course, taught with Dave Ramsey guidance, aims to reduce debt and increase savings. participants reported debt payoff and about 150000 dollars invested. Cheryl and Sgt Jeff Thacker joined to gain a common money language and plan to tackle debt after job loss and medical crises.
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