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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jul 31, 2009
Page
18
The market rose as earnings reports buoyed optimism about the economy. The Dow gained 83.74 to 9154.46, the S&P 500 rose 11.60 to 986.75, and the Nasdaq advanced 16.54 to 1984.30 as gains pared intraday highs near 2,010.
International Paper reports a 40 percent fall in second quarter profit to 136 million or 32 cents a share as sales dip to 5.8 billion. The results reflect 244 million in restructuring charges and 294 million gain from a federal energy credit.
Lee Enterprises Inc parent to the Quad City Times and Waterloo Courier reported a 24.5 million quarterly loss or 55 cents per share as ad revenue tumbled 24 percent due to recession and online competition. Revenue fell 20.5 percent to 203.8 million, with write offs dragging results.
SHF Industries LLC asks a judge to reject a 400000 fee request by Triax Advisors claiming wasteful spending and insufficient documentation. The motion targets insured asset values and reimbursements tied to case controller Alan Rice, plus vague gym charges and unrevealed spend details.
As Congress moves to pass a health care reform package, employers push for lower costs and minimal disruption to small businesses. Publix spokesman Maria Brous says changes must be well thought out while noting the impact on uninsured 47 million and insurers, doctors, and hospitals.
Rockwell Collins reports a 17 percent drop in third quarter net income to 145 million and earnings of 91 cents per share as commercial systems sales fall 35 percent to 211 million. Government systems rise 7 percent helped by DataPath and SEOS Group acquisitions. CEO Clay Jones cites volatile markets and ongoing cash flow improvement.
Experts advise parents to coach teens through job disputes rather than intervene. Junior Achievement notes many new hires lack problem solving and communication skills, urging teens to use online lessons on conflict resolution to build workplace readiness.
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