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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 16, 2007
Page
11
Markets lifted Friday as fresh economic data showed inflation excluding energy remained tepid, easing fears. The Dow rose 85.76 points to 19639.48, up 344 points over three days, nearing its June 4 close, while the S&P 500 gained 9.94 to 1532.91 and the Nasdaq moved up 27.30 to 2626.71.
Winnebago Industries posted a 36 cent per share third quarter profit, down five cents from year earlier, amid higher material costs and a shift of 4 percent of sales to lower margin motor homes. Revenue rose 5.2 percent to 231.7 million, while net income fell 14.4 percent to 11.3 million. Chairman Bruce Hertzke praised dealer reception of the 2008 models introduced in April as the firm aims to grow its market share in Class A diesel RVs.
Freedom Fuels LLC begins production at a biodiesel refinery near Mason City boosting Iowa to 11 refineries with 200 million gallons annual capacity. The facility employs 23 people and produces 30 million gallons of biodiesel plus 3 million gallons of glycerin from soybean oil and animal fats, built by NewMech Companies Inc. China and U.S. sign cooperation to root out counterfeit goods with a 90 day status report.
The Iowa Employment Values Survey of 56 firms and about 700 workers shows executives underestimate the value employees place on factors like work family balance and job security. Flex time emerges as a top retention driver for younger workers, with one in six planning to quit within a year.
Growth market by George Ford reports Liberty Bank Iowa expanding across Eastern Iowa. A North Liberty branch opened May 21 at 655 Community Dr. The bank aims to reach about $300 million in assets by year end and over $1 billion by early 2008 with new branches in Cedar Rapids, Iowa City, Coralville, North Liberty, North Dubuque, Waterloo, and East Dubuque. Bruce Anderson notes rapid expansion from 2002 to 2007, including temporary Cedar Rapids offices and planned permanent Waterloo and Waterloo sites.
Attorney Tanya Harvey explains that same sex couples lack marriage tax and inheritance benefits and must use estate planning to protect partners and families. She urges legal guidance on power of attorney health care directives, domestic partnerships, and up to date wills or revocable trusts, noting risks if denied access or left without a will.
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