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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 14, 2009
Page
18
The stock market rallied Friday with modest gains after a sharp week. The Dow rose 53.92 to 7223.98, the S&P 500 gained 5.81 to 756.55, and the Nasdaq climbed 5.40 to 1431.50 amid a week of volatile banking shares.
The Commerce Department reports the January trade gap at 36 billion dollars, down 9.7 percent from December and marking the smallest deficit since October 2002. Exports and imports both fell as a deepening recession reduced demand for manufactured goods abroad.
The NAACP filed class action suits in Los Angeles accusing Wells Fargo and HSBC of steering Black borrowers to subprime loans while whites with similar qualifications got better terms. Black borrowers faced far higher subprime loan and rate likelihoods. the group seeks greater loan process transparency.
A new Hardee’s at 107 Second St Coralville opens Monday replacing the flooded building from June. Owned by Lee and Robin Staak of Iowa Management Systems the fixture has operated on the Coralville strip since 1982.
The Employee Free Choice Act would allow unionization via majority signature cards and require mediation then binding arbitration for initial contracts. Advocates say it expands worker rights while critics warn of peer pressure and coercion during card signing.
Cathy Mansell promotes reuse centers that collect items from thread spools to yogurt containers for art projects. Centers rely on grants or sales, serving schools and arts programs while highlighting budget savings and environmental reuse.
Cedar Rapids Chamber of Commerce urges local buyers to shift five percent of purchases to Linn County suppliers. The plan projects $400 million more in annual spending and 2,311 jobs, with ISU economist David Swenson noting similar effects in Iowa City and Des Moines. Firms pledge locally via buyinlinn com.
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