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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 01, 2009
Page
17
Chrysler's Chapter 11 filing caused a small dip in a broadly strong Wall Street rally. The Dow closed down 17.61 points at 8168.12 as the index still posts a 7.4 percent monthly gain while the Nasdaq rises and the S&P slips slightly. Mortgage rates also fall to new lows with 30-year loans at 4.78 percent.
Iowa Telecommunications Services reports a 33.3 percent drop in earnings per diluted share for the first quarter as revenues stay flat. The Newton based firm earned 14 cents per share, down from 22 cents a year earlier, with 3 600 fewer access lines from Q4 2008. Bishop Communications acquisition adds 1,500 lines versus Q1 2009. Network access revenue declined 3.6 percent.
Chrysler LLC filed for Chapter 11 bankruptcy protection in New York halting most production while it negotiates a revival with Fiat. The move follows a clash with holdout creditors over 6.9 billion dollars in secured debt as the government weighs up to 8 billion in support and a reshaped ownership including the UAW at 55 percent and Fiat starting at 20 percent.
Col Dorothy Taneyhill lauds Rockwell Collins for delivering the 300000th Defense Advanced GPS Receiver used by U S military in Afghanistan and Iraq. About 300 Iowa workers produce DAGRs in Cedar Rapids and Coralville and a $450 million contract extends production through 2016.
Alliant Energy Corp reports first quarter net income of 72.6 million or 66 cents a share, up from 68.1 million the year prior, while cutting its 2009 capital budget to 1.15 billion from 1.81 billion. The Cedar Rapids based parent of Interstate Power and Light cites higher transmission and pension costs and weaker industrial demand, plans no new stock issuances through 2010 except employee equity plan needs.
Parents face choices to haul or hire storage for dorm belongings after finals. Options include on campus storage, self storage near campuses, or services like CollegeBoxes and PODS with varying rates per box and per pickup delivery. At CollegeBoxes a kit costs 29.99 plus 45 per box storage and delivery, with extra fees for heavier items. PODS quotes 110 monthly plus 80 for pickup and delivery.
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