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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 30, 2005
Page
16
Stocks drifted lower as traders awaited the Federal Reserve decision on rates. The Dow dropped 31.15 points to 10,374.48 and the Nasdaq eased 1 point to 2,068.89, while advancers beat decliners about 9 to 6 on the NYSE.
Fay Roberts Wells 82 co chair and former CEO of Wells Dairy died from lymphoma complications. He became president in 1977 and CEO in 1999 guiding Wells Dairy to nationwide sales. The same day Wells Dairy broke ground on a $26 million headquarters in Le Mars.
General Mills reported a 65 percent rise in fourth quarter earnings to 460 million dollars or 1.14 per share, aided by a 329 million gain from selling businesses. Excluding gains and other items, earnings would be 64 cents per share. Shares fell 6.7 percent to 47.21. Iowans set a MidAmerican Energy electricity demand record of 3956 megawatts as temperatures hit 95 in the Quad Cities.
IndyCar driver Paul Dana promotes ethanol as a high tech performance fuel at the Iowa Statehouse. Agriculture Secretary Patty Judge backs ethanol use as Dana campaigns across 16 cities in 17 races, highlighting Iowa’s leadership and Minnesota’s ethanol mandate. Dana ranks 10th in IRL points and leads rookie standings.
The 2005 J.D. Power Vehicle Dependability Study finds GM and Ford topping more segments than Toyota and Honda with six of nine car categories and six of 10 trucks ranking highest. Lexus remains top overall for 11th year while Lincoln Buick and Cadillac outpace Toyota in overall scores.
The Corridor Free Wireless Project will install a wireless mesh network in downtown Cedar Rapids Iowa City and Coralville starting next month. Strix Systems will supply equipment. Communications Engineering Co. Avalon Networks and Inter net service provide maintenance and setup. Operational by August.
The Finance Committee advanced the Central America Free Trade Agreement by voice vote with one objection from the senior Democrat. Grassley warned of shaky GOP votes while Democrats like Bingaman supported the pact. Harkin voiced concerns for small farmers and labor enforcement. If approved, duties on most regional exports would be lifted, with selective timing for certain sugar and soybean products.
Iowa City area Realtors embrace the growing Hispanic homebuyer market with cultural training and Spanish language work. Twenty four Realtors earned Hispanic Market Specialist designations after training June 16. The group, aligned with the National Association of Hispanic Real Estate Professionals, plans a cultural diversity section on its site and expands training to Asian cultures.
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