01 May 2009
Page 1
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 01, 2009
Page
1
Chrysler filed for Chapter 11 but the market kept rising. The Dow fell 17.61 points to 8168.12 after a morning rally, leaving a 7.4 percent month gain. The S&P 500 dipped 0.83 to 872.81 while the Nasdaq rose 5.36 to 1717.30.
Freddie Mac says 30 year fixed mortgages averaged 4.78 percent this week, down from 4.80 percent. The 15 year fixed averaged 4.48 percent, unchanged for a third straight week. Five year adjustable rate loans averaged 4.80 percent, while one year ARMs averaged 4.77 percent.
Towa Telecommunications Services reported a 33.3 percent drop in earnings per diluted share as revenue stayed flat. Procter & Gamble posted a near four percent fall in its fiscal third quarter profit, with revenue dipping to 18.42 billion amid a stronger dollar. International Paper posted a first quarter profit surge aided by a 330 million tax credit and a federal fuels program.
Chrysler LLC filed for Chapter 11 protection in New York as part of a plan with Fiat to revive the automaker. The government may provide up to 8 billion more in loans while plants idle during the process, and Fiat could gain up to 35 percent ownership with benchmarks met.
Col Dorothy Taneyhill of the Army lauds Rockwell Collins at Coralville for delivering the 300000th Defense Advanced GPS Receiver. The DAGR powers U.S. troops in Afghanistan and Iraq and supports embedded system goals, with Rockwell Collins winning a $450 million contract to continue production through 2016.
Alliant Energy Corp reported a first quarter profit of 72.6 million or 66 cents a share, up 7 percent, while cutting its 2009 capital spending plan to 1.15 billion from 1.31 billion to reflect the Sunderland Unit 4 cancellation and other projects. The Wisconsin company cited higher transmission and pension costs and weaker industrial sales, guiding 2009 earnings to 2.18 to 2.48 per share and signaling a stronger remainder of the year after a volatile start.
Parents face options for storing student possessions after finals. Choices include storage pickup services or campus storage, with costs varying by box or space. Companies such as CollegeBoxes and PODS offer near campus storage with kits and delivery, pricing for kits and per box or container plus pickup fees.
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