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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 22, 2006
Page
16
Stocks closed lower after a volatile session amid conflicting inflation data and unsure Fed policy. The Labor Department PPI fell 1.4 percent, core PPI rose 0.3 percent, while the Dow dropped 39.06 to 11235.47 and the Nasdaq fell 19.88 to 2294.23 as decliners outpaced advancers on the NYSE.
Government data show that Hispanic owned businesses grew at three times the national rate from 1997 to 2002. By 2002 nearly 1.6 million Hispanic owned firms existed, up 31 percent from five years earlier, with U.S. Hispanic Chamber of Commerce estimating annual consumer spending near 700 billion dollars. In Iowa 1,536 firms were Hispanic owned in 2002.
PepsiCo s Gatorade sues Coca Cola over a Powerade Option TV ad that shows a drag race between Amish dressed farmers in horse drawn carts and claims Powerade Option has fewer calories per 8 ounce serving, asserting the claim as unsubstantiated and deceptive. The complaint targets the ad s portrayal of faster performance due to lower calories.
Microsoft Corp will delay the consumer release of its Windows operating system until January, missing the holiday sales season. The postponement, to improve security and other functions, unsettles PC makers and retailers relying on Vista’s launch. It is the first major update since Windows XP in 2001.
Iowa City officials will hire a full time economic development coordinator to attract new businesses, bolster downtown, and maintain ties with major employers. The role aims to grow the tax base and coordinate with the Chamber of Commerce and Development Group while pursuing incentives and redevelopment.
Cedar Rapids Camden Amusement says the TouchPlay gambling machines will be removed by May 4 under a new law signed by Gov. Tom Vilsack. The company invested about 2.5 million dollars to install 390 TouchPlay machines, facing potential layoffs as revenue projections and upfront costs were built on a five year plan.
Priority One officials announced the capital campaign raised 6.85 million dollars, surpassing a 5.8 million goal. The funds will fund six years of operation for Priority One, with plans to add 6,000 more jobs in five years at an average pay of 17.50 per hour. 90 new investors joined existing backers as part of the successful drive led by Mark Seckman and Jack Evans.
Growing number of investors use target-date funds for easy diversified retirement investing. Morningstar notes 133 funds from 20 plus providers with 94 under three years old. Asset allocation and cost vary. Vanguard offers low 0.20 percent fees using index funds.
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