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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 27, 2008
Page
18
A broad market decline followed a record oil surge with the Dow falling 358.41 points to 11,453.42, the S&P 500 dropping 38.82 to 1,283.15, and the Nasdaq losing 79.89 to 2,321.37 amid signals of trouble in financial, high tech, and auto sectors. General Motors hit a 30+ year low on negative analyst commentary.
ImOn Communications will operate an equipment drop site in northwest Cedar Rapids for flood affected customers. From 10 a.m. to 3 p.m. at 1532 Ellis Blvd NW, customers can return damaged cable boxes and Internet modems and exchange others. No charges will apply for flood damaged returns or service billing during evacuation or flooding periods.
Freddie Mac reports that the 30-year fixed rate averaged 6.45 percent this week, up from 6.42 percent last week and the highest since a 6.46 percent reading in the week of September 9. The 15-year fixed rate rose to 6.04 percent, the five-year ARM to 5.99 percent, and the one-year ARM to 5.27 percent.
Chrysler LLC plans a two month shutdown of Jeep Liberty and Dodge Nitro at its Toledo Ohio assembly plant citing weak sales. About 2,200 workers will largely take summer off and return by August 25 as UAW Local 12 notes. Chrysler spokesman Ed Saenz did not confirm specifics.
A selective survey of gas prices as of yesterday afternoon shows the low price today in 2007 at 2.93 dollars per gallon. Prices are rounded to the nearest cent. The report tracks regional variations and highlights the cheapest option within the Corridor.
More than 100 small business owners gathered at Coe College for a disaster recovery briefing hosted by the Cedar Rapids Area Chamber of Commerce. Speakers covered asbestos removal tax implications SBA loans and zero percent forgivable loans up to 20000.
EPA involvement grows as floodwaters in Cedar Rapids, Coralville and Iowa City spawn more electronic waste. 7 items per home and 35 000 total e waste items projected for Linn County. Midwest Electronic Recovery handles disposal and recycling with EPA pricing inquiries noted.
The Cedar Rapids Hall Bicycle Co. at 414 Second Ave SE stayed powered during a two week flood outage while nearby shops lost power. Owner Karl Moscrip says Alliant cannot explain why their shop remained energized. The 110 year old store reopened June 17 after downtown barricades came down.
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