Wells Fargo opens Cedar Rapids office amid merger
Wells Fargo Advisors opens a downtown Cedar Rapids office at 303 Third Ave SE, consolidating former Wachovia Securities and A.G. Edwards branches destroyed by the June 2008 flood. The 16-person, 5,800 square foot space reopens June 12, one year after flood damage, with plans to run Wells Fargo Advisors and Wachovia assets separately for now.
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A.G. Edwards & Sons
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Wachovia
Midwest home sales post annual decline
The Midwest saw an 8.5 percent drop in existing home sales from a year earlier with a 10 percent fall in median price to 145800. First time buyers helped but could not offset the weaker economy. National sales fell 6.6 percent and median price to 173000.
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Kansas City, Mo
National Association of Realtors
Realtors Association
Associated Press-Re/Max
Madoff Lawyer Seeks 12 Year Sentence
Bernard Madoff's attorney urged a 12 year term as sufficient punishment for the financier who admitted a decades long Ponzi scheme. Madoff, 71, faces up to 150 years after pleading guilty to 11 felonies including securities fraud and perjury. Federal guidelines would yield life. Sorkin said the defendant will address his shame and the pain caused at sentencing before U.S. District Judge Denny Chin.
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Bernard Madoff
Madoff
Ira Sorkin
U.S
Denny Chin
Automakers secure $8 billion for green car push
The Obama administration will lend Ford 5.9 billion and Nissan and Tesla about 2.1 billion to upgrade factories and build electric vehicles under a 25 billion fund for fuel efficient cars. Tesla receives 465 million for EVs and powertrains.
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Mich
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Tenn
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America
News Tip Line for The Gazette Readers
The Gazette invites readers to report breaking events via its tip lines in Iowa City and Cedar Rapids. Calls provide location and details to help newsroom coverage. Reports may include urgent incidents, public safety, or community stories for rapid verification.
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