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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 30, 2009
Page
17
The market shows tentative support with modest gains since July as Dow Jones slips 26 points to 9070.72. The S&P 500 declines 4.47 to 975.15 and Nasdaq drops 7.75 to 1967.76 as commodity prices slide and durable goods orders weaken.
The deadline for steam assistance is July 31 for Alliant Energy customers affected by the 2008 flood. Cedar Rapids Area Chamber secures 21 million dollars to aid low and high pressure steam system conversions and post flood bill help. Three Eastern Iowa groups receive 99 000 grants to fund rural business revolving loan funds. Funds come from the federal stimulus act via USDA Rural Business Enterprise Program.
The American Wind Energy Association reports Iowa added 160 megawatts in Q2, bringing total capacity to 3,043 megawatts. Texas leads with 8,361 MW, California is third at 2,787 MW, driven by an 80 turbine Worth County wind farm from Iberdrola Renewables.
Unemployment rose in many U S metro areas from May to June with college towns like Iowa City and Ames seeing upticks due to summer. Detroit and Tuscaloosa posted notable increases as national rates climbed. Iowa City moved from 3.7 to 4.8 percent while Ames reached 4.9 percent amid broad volatility in unadjusted rates.
Cedar Rapids based RFK Transportation owned by Bob Kazimour liquidates after 35 years in business. Auctioneer sells equipment from a nationwide freight hauler started in 1973 after a failed West Side Transport merger and subsequent arbitration. The family removed assets abandoned nationwide as they wind down operations.
VOCON Auctions sold 49 of 133 Kazimour family trailers in Cedar Rapids with 77 online bidders from Panama and Russia. The white trailers, appraised at 1.35 million dollars, will fund the Kazimour Family Charitable Trust, as founder Kazimour discusses rebuilding RFK Transportation.
Archer Daniels Midland Co. acquires the 104 year old Keystone Mercantile grain elevator after a June 4 state shutdown for bounced checks. Keystone’s license was revoked and a hearing canceled as ADM takes over the facility with 1.9 million bushels of storage. ADM says it will maintain service for local farmers and directs inquiries to ADM Grain.
Microsoft and Yahoo announce a decade long deal to combine search efforts against Google. The pact gives Bing access to Yahoo's audience and keeps Yahoo earning 88 percent of search ad revenue for five years while expanding ad sales on Microsoft sites. Yahoo expects a $500 million boost to annual operating profit.
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