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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 20, 1992
Page
23
The state DOT offers no fee haying permits for farmers to harvest roadside grasses on state rights of way to ease drought impacts. Branstad releases also allow county rights of way harvests with county engineer notice before operations.
Genencor International in Cedar Rapids completed a $6 million addition and reorganized management in 11 months of operation. The plant now employs about 75, moving into solid enzyme formatting for laundry detergents. Ken Herfert leads production with strong capacity in both wet and solid units.
The Dow rose 11.23 to 3 285.35 after a rough week with a 69.01 week loss. NYSE breadth favored gainers 3 to 2 as volume reached 234.32 million shares. Quaker Oats up 1 percent and Equitable of Iowa down 1 percent. Coca Cola, Merck, Philip Morris, GM and AT&T futures also moved higher.
FDA investigates reports that smoking while wearing nicotine patches caused heart attacks. The inquiry follows five hospital patients in Attleboro since April. Experts urge caution until studies prove any cause and effect, noting overall cardiovascular risk in smokers and patch use. The patches market surpassed 400 million dollars in six months, sold by American Cyanamid, Ciba-Geigy, and Marion Merrell Dow.
Warner Bros races to release Batman Returns as Ice T controversy hits Time Warner while chairman Steven J Ross battles cancer relapse. A legacy Batman film has profits over $100 million despite a reported loss on the first film and a massive merchandise push including chips and Bat mobiles. Michael Keaton voices discomfort over the marketing hype surrounding the character.
New York based International Discount Telecommunications announced a new service to connect calls between countries that do not maintain formal ties. The company will route traffic through North America to link nations such as Israel and Syria, North and South Korea, and former Yugoslav states, enabling calls normally blocked by governments.
The Iowa Student Loan Liquidity Corp. issued 108 million dollars in bonds backed by student loans. ISLLC serves as Iowa’s designated secondary market with local banks originating loans and the agency handling administration servicing and collection. The five year default rate averages 1.65 percent, attributed to strong tracking and collection. Moody s rated the latest issue Aal.
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