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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 15, 2004
Page
16
Stock prices fell sharply as inflation worries rose and higher rates loom. The Dow dropped 75.37 to 10,334.73, the S P 500 slid 11.18 to 1,125.29, and the Nasdaq fell 29.88 to 1,969.99 as decliners outpaced advancers 4 to 1 on the N Y S E.
University Hospitals Iowa City St Luke's Cedar Rapids and Unity Muscatine join a week long lean workshop based on Toyota production. The effort aims to reduce steps and costs while speeding care such as CT scans with notable 30 percent faster turnaround and capacity gains.
Boeing Co has secured a U S Navy contract to build 115 to 150 multimission marine planes by converting its 737 commercial jet for military use. Lockheed Martin competed for the project and two Washington state lawmakers cited the decision on Monday.
The Treasury Department sold 17 billion dollars in three month bills at a discount rate of 1.390 percent up from 1.230 percent last week. An additional 15 billion dollars was sold in six month bills at a rate of 1.720 percent, up from 1.505 percent.
Rockwell Collins announced a successful demonstration of the Milstar Low Data Rate Software Communications Architecture waveform in a Joint Tactical Radio System environment. Greg Churchill said the milestone validates JTRS SCA above 2 GHz and notes ongoing DoD interest in extending the architecture beyond 2 GHz. JTRS radios offer voice data and video from 2 MHz to 55 GHz.
Victor Schmitz of Quasqueton says higher energy costs have little effect on his retirement life. He notes his wife commutes 1.5 miles to work, allowing them to control driving and expenses.
Iowa farmers seek dry days to spray weeds amid extended rain. pest expert Rich Pope warns to spray cautiously to limit liability and verify aphids before acting. Farmers report replanting washed crops and alfalfa harvest difficulties as statewide rainfall totals exceed normal by .58 inches.
The Lundberg Survey reports a 6 cent drop to $2.04 per gallon nationwide for all grades, reversing gains since December. Declines follow higher gasoline production and lower crude prices amid OPEC quota adjustments and summer demand expectations.
Mitsubishi Fuso Truck and Bus Corp reopens a 450000 vehicle recall tied to defects not disclosed four years ago. Police raided the former Mitsubishi Motors president Kawasoe amid a probe into hid ing auto defects and a 2002 fatal crash. The 41 model recall spans 1983 onward, linked to 13 injuries, 26 property-damage crashes, and 74 vehicle fires.
Manpower Inc reports third quarter hiring optimism in the Cedar Rapids Iowa City Technology Corridor. Three percent expect staff reductions, 41 percent plan additions, 56 percent hold steady. Iowa City shows no cuts, 27 percent adding, 73 percent unchanged. Statewide 31 percent plan hires, 62 percent no change, 6 percent cuts, 1 percent undecided.
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