25 Jun 1991
Page 1
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 25, 1991
Page
1
Linn Academy will retain its private status and not be absorbed by the Marion Independent School District. Teachers from both schools will work together, according to school leaders. Details on page 3B.
The University of Northern Iowa joins Iowa State and the University of Iowa in a fiscal 1992 hiring freeze due to the state budget squeeze. UNI faculty union plans a lawsuit over the state's refusal to fund requested salary raises. Details on page 6B.
Poland becomes a magnet for Western firms as it rebuilds after the 1980s economic collapse. The report notes growing investor interest and signals a shift in regional finance and industry, with more details on page 5D.
Last night the Midwest League All-Star Game featured Cedar Rapids Reds' Eddie Rush as the starting shortstop for the Southern Division. Details on page 1D.
Taras Genet of Talkeetna Alaska reaches Mount McKinley summit at 20326 feet with six expedition members becoming North America's youngest climber. His father Ray Genet died on Mount Everest in 1979, and his mother Kathy Sullivan says the feat should boost his confidence, possibly aiding him on the basketball bench this year.
A bipartisan National Commission on Children unanimously urged a $1,000 annual tax credit for each child and urged health care, education, and moral training reforms. White House officials questioned affordability, citing lack of funds as a barrier to enacting large programs.
Iowa lottery sales run about 5 percent below projections as the year nears end. Officials cite national recession and war uncertainty, with riverboat gambling having little effect. Through 11 months, sales total about 146.8 million. profit to the state stands at 33 million, down from 39.5 million a year ago.
Cedar Rapids ophthalmologists led by Dr. Steven Jacobs seek a state of the art diagnostic and laser eye center at 1600 block of First Avenue NE. The 21 200 square foot two story facility would replace 16 homes on a city block and could attract a retinal surgeon from Vancouver while offering 100 000 for a low income housing fund to aid displaced residents.
Des Moines authorities announce a new law requiring all new and existing residential buildings in Iowa to have smoke detectors. Effective July 1, hard wired detectors are required in new homes, with existing dwellings eligible for installation assistance and 30 day notification for homestead tax credits.
The market closed down 52.55 points as a Japanese securities scandal triggered selling across Asia and Europe. IBM warned its second quarter earnings would be lower, while leaders of two major Japanese firms resigned amid reports of loans to an ex mob boss and questionable client compensations. John Chapman of The Chapman Co. in Cedar Rapids warned of an overvalued market facing a steep correction from decades of prior overpricing.
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