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Cedar Rapids Gazette in Cedar Rapids, Iowa

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This newspaper page contains 9 articles. Subscribers can read the full text of each article.

Newspaper

Cedar Rapids Gazette

Location

Cedar Rapids, Iowa, United States of America

Date

May 05, 2005

Page

16

Kerkorian boosts GM stake amid market rally

Stocks rose as investors eyed Kirk Kerkorian's bid to expand his stake in General Motors. The Dow gained 127.69 points to 10,384.64 and the Nasdaq climbed 29.16 points to 1,962.23, with advancers ahead about 3 to 2 on the NYSE.

Kirk Kerkorian General Motors Corp Hugh Johnson Johnson Illington Advisors New York Stock Exchange

Maytag recalls workers at Newton washer plant

Maytag Corp recalls about 80 laid-off production workers at its Newton washer and dryer plant to meet rising demand for the front loading Neptune washer. Spokesman John Daggett said more workers are needed, boosting Newton’s active production staff to roughly 1,355.

Maytag Newton Maytag Corp Ted Johnson United Auto Workers Local 997 John Daggett

Wellmark to Issue New ID Cards Replacing SSNs

Wellmark Blue Cross Blue Shield of Iowa will issue new member identification cards this summer based on renewal dates. Cards replace Social Security numbers with system assigned seven numbers and two letters to curb identity theft, with all members expected to receive new cards by December 31.

Wellmark Blue Cross Blue Shield of Iowa Wellmark Ellen Gaucher Wellmark Group Gaucher

Ottumwa Generating Plant Returns to Service

The Ottumwa Generating Station jointly owned by Interstate Power and Light and MidAmerican Energy is back online after repairs. A February 19 shutdown followed a direct short in a 161 kilovolt transformer, with a replacement from Power Asset Recovery Corp. facing transport challenges due to its 1.2 million pound weight.

Ottumwa Interstate Power and Light Co MidAmerican Energy Co Interstate Power & Light Power Asset Recovery Corp. of Texas Gazette News Service

Smart carts in stores test new computer guides shoppers

Super markets test smart cart systems like Concierge from Springboard Retail Networks and IBM Shopping Buddy. The devices map aisles, track carts, offer sale alerts, and tally purchases through a card or key login, with self checkout and bagging at the end. Canadian stores test Concierge in June and July, with IBM rolling out later.

Chicago Michael Alexander Springboard Retail Networks Inc IBM Massachusetts Alexander Quincy Mass

Midwest confidence falls in April amid higher oil prices

The nine state Midwest region shows a drop in the Creighton University Mid America Business Conditions Survey with an April confidence index of 59.4 down from 64.5, signaling slower growth ahead for six to nine months. Iowa’s index slides to 62.2 as manufacturing jobs shrink but heavy manufacturing adds, with expected jobless rate fall by late summer.

Omaha Neb Midwest Creighton University Ernie Goss Mid- America Tor Goss Iowa

Alliant Energy CEO to step down in July replacement named

Alliant Energy announces chief executive Erroll Davis Jr. will retire from the board by the 2006 annual meeting and be replaced by chief operating officer William Harvey. Harvey, 56, has led as president and COO since January 2004 and joined the board that month. The utility serves over 1.4 million customers in Iowa Illinois Minnesota and Wisconsin.

Madison Wis Alliant Energy William Harvey Erroll Davis Jr Davis Alliant En An Messe Che Weeergy IES Indus Harvey WPL Holdings Wisconsin Power & Light Iowa Illinois Minnesota Wisconsin

Treasury weighs return of 30 year bond to fund deficits

The Bush administration considered resuming 30 year bond sales to finance a record $427 billion deficit. Treasury official Timothy Bitsberger said a decision would be announced August 3 with auctions potentially starting in February 2006. The move follows a 2001 stop due to surpluses that never materialized amid recession and war.

Washington Bush Treasury Department Timothy Bitsberger Treasury Financial Markets Bitsberger

IBM to cut 10000 to 13000 jobs amid restructuring

IBM announced a second quarter pretax charge of 1.3 to 1.7 billion dollars as it cuts 10 000 to 13 000 jobs mainly in Europe. The plan follows a disappointing first quarter with missed earnings and aims to create smaller local units and reduce bureaucracy in lower growth markets.

New York International Business Machines Corp Europe IBM Mark Loughridge Goldman Sachs Group Inc Laura Conigliaro France Germany Italy Japan New York Stock Exchange

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