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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 30, 2010
Page
9
Stocks slipped on an uneven session as investors weigh upbeat earnings against signs of a slow recovery. The Dow fell 30.72 to 10,467.16, the S&P 500 dropped 4.60 to 1,101.53, and the Nasdaq declined 12.87 to 2,251.69 as new jobless claims eased for a third time in four weeks.
Amazon announces a smaller faster Kindle with Wi Fi and longer battery life. The 6 inch screen stays the same at 189 dollars while navigation gains a standard control pad and a high contrast display from the DX. A Wi Fi only 139 dollar model may widen its lead as the market grows.
Citigroup Inc. will pay 75 million to resolve civil charges that it misled investors about losses from subprime mortgages during the 2007 housing bust. The SEC said the bank overstated or understated exposure in analyst calls and filings, with exposure claimed under 13 billion but later exceeding 50 billion.
Cedar Rapids startup Varsity Motor Coach debuts the Varsity All-Conference a 40 foot motor coach priced from 350000 to 425000 with Hawkeye logo finishes and a built in entertainment plaza. The company aims at high net worth alumni and will license with the University of Iowa and other top schools.
Freddie Mac reports a 4.54 percent average for 30 year fixed mortgages the lowest since tracking began in 1971. Experts note borrowers with high credit and sizable down payments can push even lower, with examples from Workman Mortgage and Susquehanna Bank.
The Alliance for Retired Americans hosts a 10:30 a.m. birthday event at the Witwer Senior Center in Cedar Rapids to stress Social Security and Medicare importance. Speakers include James Kennedy of the Social Security Administration and U.S. Representative Dave Loebsack.
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