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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 07, 2009
Page
16
Financial stocks led gains as reports suggested major banks’ balance sheets may be sturdier than feared. The Dow rose 101.63 to 8,512.28, the S&P 500 gained 15.73 to 919.53, and the Nasdaq edged up 4.98 to 1,759.10.
The Iowa City Area Development Group unveiled www.iowacitywind.com to connect wind energy business components with advantages of operating in Iowa City. The site offers a snapshot of the area and links to ICAD Group information, laborshed reports, property details, and a free transportation quote to estimate shipping costs.
Marsh & McLennan Cos posted its first quarter profit of $176 million or 33 cents a share after a loss a year earlier. Revenue declined to $2.63 billion from $3.04 billion. Prudential Financial, by contrast, reported an eighth straight quarter of losses with a slim first quarter net income of 1 cent per share.
Oil prices jumped to the highest close since mid November as a government report showed a slower buildup of unused crude in storage. Benchmark June crude rose 4.6 percent to $56.34 a barrel on the New York Mercantile Exchange.
Judge Linda Reade struck the EEOC pattern or practice claim against CRST Van Expedited in Cedar Rapids, acknowledging 146 female drivers faced physical and verbal abuse by male co-drivers and lead drivers. The ruling notes CRST has harassment policies and reporting channels but details how many cases proceed individually.
The Iowa Policy Project reports that 170 million federal stimulus funds may help homeowners and flood damaged areas with energy efficiency upgrades. Officials say programs could start by late summer or fall and stress policy work to boost utilities efficiency and local government goals. Rod Scott of the Iowa Historic Preservation Alliance notes recovery offers a window to sustainable rebuilding.
The state lists federal recovery funds for energy programs in Cedar Rapids area. Programs include Weatherization 80.8 million, State Energy 40.5 million, EECBG 21.2 million, Clean Water SRF 10.6 million, CDBG EEC 7 million, Drinking Water SRF 4.9 million, National Guard Facilities 3.3 million, and Diesel Emission Reduction Grants 1.7 million. Authority: Office of the Governor and Lieutenant Governor.
China and 37 states face pork import bans amid the Influenza A H1N1 outbreak. Iowa officials dispute the move saying pork remains safe and the bans hurt farmers while health bodies note no transmission through meat. Trade groups warn daily industry losses reach millions.
Consumer confidential column notes people sign away their right to sue via mandatory arbitration in contracts. The Fair Arbitration Now coalition urges legislation to make arbitration voluntary, citing bias toward companies and the loss of class action access for consumers.
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