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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Mar 23, 2012
Page
6
New York stocks declined as signs of a weakening Chinese economy and slowing Europe weighed on sentiment. The Dow fell 78.48 points to 13,046.14, the S&P 500 dropped 10.11 to 1,392.78, and the Nasdaq slipped 12 to 3,063.32.
McDonald’s Corp Chief Executive Skinner announced his retirement at age 67. Skinner rose to the top during a comeback for the world’s largest hamburger chain and will be succeeded by Don Thompson, 48, this coming summer as president and chief operating officer takes over.
Murray Lender who helped grow a Connecticut bakery into a national bagel brand died in Florida after a fall. He and his family claim to have first sold bagels in packages to supermarkets in 1955 and to have frozen them starting in 1960. The business was sold to Kraft in 1984 and is now owned by Pinnacle Foods Group LLC.
Samuel J. Glazer co owner of the firm that popularized the Mr. Coffee drip coffee maker has died at 89 from leukemia complications at the Cleveland Clinic Services were held in Cleveland Heights Glazer and partner Vincent Maroita Sr hired engineers to create an automatic home drip coffee maker introduced in 1972 The North American Systems sale in 1987 totaled 182 million dollars
Major pork producers including Smithfield move to phase out gestation crates and switch to group open pens. The change raises costs for barns, labor, and veterinary care with potential higher prices for ham and bacon. Smithfield aims to switch all company farms by 2017 and anticipates a $300 million expense.
A FHFA inspector general report finds about half of $600,000 in October convention costs by Fannie Mae and Freddie Mac of questionable value. About 90 employees attended the Mortgage Bankers Association event in Chicago with $280,000 spent on sponsorships and meals. Freddie at Platinum level with $80,000, Fannie at Gold with $60,000.
Heirloom Salad Co owned by Tara Crowbaugh will open in the former Lyla s space at 211 E. Washington St next to Java House. The quick service concept offers custom chopped or hand tossed salads, a pan tossed pasta bar and six daily soups with 175 seats for dine in. Online ordering and delivery planned within 60 days. Interviews for staff run April 5 to 8.
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