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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 12, 1994
Page
13
Dexter Company plans a 155 500 square foot office and manufacturing complex in Fairfield at a 3 million cost, housing corporate offices and expanded washer and dryer operations while the current plant is remodeled to grow the iron foundry division. The project aims to add 20 jobs by year end.
General Motors will contribute about $10 billion to nearly halve a large pension shortfall for roughly 600,000 hourly workers and retirees, marking the largest single-employer pension fund contribution on record.
William Kerr will become Meredith Corp. president on July 1, moving from magazine leadership to run the diversified media company. He will seek broadcast properties while considering selling Meredith’s 127,000 subscriber cable stake amid deregulation and weak market interest. Christopher Little will head the magazine group. Rehm stays as chairman. Kerr plans growth in publishing and new titles.
The Dow Jones lost 27.37 points to 3629.04 as Treasury 10 year notes failed to attract buyers, pushing yields to 7.36 percent and triggering broad bond price declines. Several major stocks moved lower, while investors awaited inflation data due later this week.
In a Miami court, a Dade Circuit jury absolved DuPont in Benlate DF crop-damage claims. Plaintiffs Pena and three others accepted settlements after verdicts, while one plaintiff gets nothing. DuPont has paid over 700 million nationwide, with 214 million in Florida and Hawaii alone. more than 200 cases remain unresolved.
Linn County employers are asked to complete a confidential wage and benefit survey mailed this week. The survey requests wage information based on job duties rather than titles, using entry level wages hourly pay and total wages earned to compute averages for similar jobs. Return by May 25.
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