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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 02, 2011
Page
15
The Dow slipped 279.65 points to 12,290.14, a 2.2 percent drop, the largest since last June and the year’s sharpest decline. The S&P 500 fell 30.65 to 1,314.55 and the Nasdaq shed 66.11 to 2,769.19 as investors priced in slower growth.
Toyota recalled 106000 first generation Prius hybrids globally for faulty electric power steering caused by a loose nut. In the United States 52000 cars from 2001 through 2003 are affected. the fix involves installing better nuts and takes about four hours. No major injuries reported. Strong Midwest export numbers boost nine-state economy in May with the Mid-America index at 60.2, above neutral 50. States surveyed: Arkansas, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma, South Dakota.
Delta Air Lines and United Continental raise fees for a second checked bag on Europe flights. The first bag remains free, with online check in at 60 dollars and 75 dollars at the airport. United and Continental set 70 dollars for a second bag. Delta adds 30 dollars for a second bag on most Latin America routes and cuts Europe overweight bag fee from 150 to 75 dollars. Delta’s changes start with tickets bought on Wednesday.
Cedar Rapids natural lip balm maker Raining Rose will lease 1420 Mount Vernon Rd SE in addition to space at 405 Eighth Ave SE and 407 Ninth Ave SE. The firm aims to consolidate operations in a new 60 000 to 100 000 square foot plant on the former Allis-Chalmers site, with work to start this fall and occupancy next summer. The company has 100 employees and recently became exclusive distributor for Ballmania lip balm products.
Consumers face a surge of eco labels and claims from TerraChoice to Shelton Group while critics call greenwashing widespread. Regulators struggle to set standards as 65 percent want a single green seal and 40 percent rely on packaging to judge products.
The Iowa Wind Energy Association urged expanding from 3.67 GW to 20 GW by 2030, projecting 9,567 new jobs and $6.1 billion in property tax value plus $248.8 million in new salaries. State leaders cited grid challenges and support measures like renewable standards and incentives.
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