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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 19, 2008
Page
18
Wall Street declined for a second straight session as investors weighed renewed financial sector concerns and a warning from FedEx on weaker year ahead. The Dow fell 131.24 to 12,029.06, briefly dropping below 12,000, while the S&P 500 slipped 13.12 to 1,337.81 and the Nasdaq dropped 28.02 to 2,429.71.
The U S Department of Labor grants Iowa a 17.1 million National Emergency Grant to create temporary cleanup and recovery jobs for flood dislocated workers. An initial 6 million is released to Iowa Workforce Development with support from U S Sen Chuck Grassley. The money funds cleanup demolition repair renovation and reconstruction of destroyed public structures within FEMA eligible counties.
The Government Accountability Office upheld Boeing’s protest of the $35 billion Air Force fueling tanker contract, faulting the Air Force for multiple errors in its February award decision. The GAO urged a new competition, potentially reshuffling bids from Northrop Grumman and its partner Airbus.
Mortgage application activity fell 8.7 percent in the week ended June 13 as rates climbed to 6.57 percent for 30 year fixed loans. The Mortgage Bankers Association reported a drop from 557.1 to 508.4, signaling a pullback amid higher borrowing costs.
A selective survey reports gas prices in the Corridor as of yesterday afternoon with prices rounded to the nearest cent. The low price today in 2007 is noted at $2.94 per gallon.
Restoration moves into full swing in Cedar Rapids after last week's floods. Quaker’s Cedar Rapids plant shows minimal damage while other facilities including Cargill mills and ADM wet corn milling plan reopen timelines. Local employees receive support as crews assess safety and begin cleanup.
Temporary staffing firms like USA Staffing and Sedona Group are ramping up flood cleanup recruitment as Cedar Rapids and nearby areas recover. Openings range from 7.50 to 10.00 dollars per hour with 13 week to potential overtime assignments. Contact sites and local offices provide application details for workers displaced by the flood.
The Gazette reports area insurance executives urge residents to document all flood losses for possible insurance or tax benefits. Loren Coppock notes photos and inventories of costs for temporary housing, cleanup, labor, and rebuilding, since many remain uninsured in Linn and Johnson counties.
Guidance for flood loss documentation includes photographing wet areas and salvaging samples, listing damaged contents, keeping major items for adjusters, recording serial and model numbers, and tracking cleanup hours. Retain receipts for cleanup, temporary repairs, and any professional mitigation services, and have appliances checked by qualified personnel.
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