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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 12, 2002
Page
14
Major indices drifted with the Dow up 38.75 points to 10,611.24 while the Nasdaq slipped modestly to 1,929.49. Local stocks rose for Genencor, U S Cellular, and Rockwell Collins as markets awaited fresh news and profits.
The SEC has asked Qwest Communications for documents in an informal inquiry into its 2000 2001 accounting. Qwest projects 2.8 percent of revenue from reciprocal optical capacity sales in 2000 and 5.1 percent in 2001. A shareholder suit accuses these deals of masking revenue and inflating stock prices.
A Iowa survey of Realtors Land Institute shows statewide cropland up 2.3 percent from Sept 1 to March 1 with regional gains led by the southwest district at 6.5 percent and east central at 3.4 percent. Troy Louwagie cites strong demand and tax considerations fueling the rebound after the Sept. 11 attacks.
Iowa Utilities Board and MidAmerican Energy reach a compromise on net metering for customers selling excess solar and wind power. The order limits credits to facilities up to 500 kilowatts, carries unused credits forward, and allows recovery of interconnection costs. The agreement ends years of disputes and could resolve ongoing litigation if approved.
California’s Barbara Boxer and Dianne Feinstein oppose a 275000 per farm cap in the farm bill. They argue the limit is unfair to cotton and rice farmers, urging negotiators to back off the payment cap. The House bill has no limit, and analysis shows California crops would fare worse under the Senate proposal. They still back a $2.5 million income ban on subsidies.
Information on the bills H R 2646 and S 1731 is available at Thomas and on the House and Senate Agriculture Committee sites. The pages host bill text summaries status and related materials from the two committees.
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