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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 16, 2006
Page
20
The market advanced as Federal Reserve and DuPont upbeat data lift stocks. The Dow rose 58.43 to 11209.77, the S&P 500 climbed 5.54 to 1303.02, and the Nasdaq gained 15.94 to 2311.84 with sectors led by industrials, materials and transportation.
Tyson Foods says more than 500 workers displaced by two plant closings transferred to other Tyson plants in the region and the company will donate 125000 dollars to community efforts. Earlier cutbacks totaled 1300 jobs in Norfolk and 365 in West Point Nebraska as part of beef operation efficiency.
Federal regulators approve H R Block Inc for a new savings bank named H R Block Bank near its Kansas City headquarters. The institution will start with 160 million dollars in assets and grow to 185 million by year end and begin operations by the end of April.
Sen. Chuck Grassley introduces a bill to extend alternative energy tax incentives for three more years, highlighting wind energy credits and biodiesel excise credits as crucial for Iowa. Iowa ranks among top wind producers with 354 turbines and plans for six biodiesel plants by 2006 end, capable of over 120 million gallons annually.
Independence based Q3 Innovations founded by University of Iowa graduates Brian Eddy and Chad Rennebaum moved from Minnesota to Iowa to develop personal security devices. They market AlchoHAWK breath alcohol analyzers certified by FDA and DOT, and unveiled ThermoHAWK infrared thermometers with plans for UV sensors. The firm outsources production, sells through Target and specialty retailers, and plans future breath alcohol sensor integration into mobile devices.
The article highlights salvaged building materials from ReSource in Boulder Colorado including 1915 terra cotta roof tiles 6000 feet of logs from a 6000 square foot home and items like Adirondack chairs made of reclaimed redwood and a church lectern from Sweden. Salvage gains popularity as usable material still ends up in landfills according to the EPA.
The article notes nearly 1 billion board feet of salvaged lumber are discarded annually in the United States, about 3 percent of softwood harvest. It highlights deconstruction as the manual, time consuming method to preserve materials and cites the Forest Service directory on reusable wood sources.
Recycled materials are available at Habitat for Humanity ReStore locations in Coralville and Cedar Rapids, Relics & Ruins in Cedar Rapids, and 4 Salvage Barn in Iowa City. Contact numbers and addresses are provided for each supplier.
The Fed reports momentum in early March with continued growth in overall activity. Wages rise modestly across regions while housing cools after a long period of sales highs. Prices inch up as energy costs and materials press on firms.
The article weighs Roth versus traditional IRAs and taxable accounts with 2005 rules. It outlines contribution limits of 4000 plus 500 for those 50 and older, and compares tax treatment, deduction eligibility, withdrawal rules, and income limits for converting to Roth. It notes traditional IRA deductible status depends on work plans and income, while Roth eligibility is constrained by modified adjusted gross income caps.
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