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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 14, 1996
Page
11
Sprint Corp expands its flat-rate pricing to domestic calling card use, eliminating the 80 cent surcharge per call and setting a 25 cent per minute rate within the United States. international card calls retain a surcharge.
A yearlong FDIC survey found 28 percent of customers were not told mutual funds lack federal deposit insurance and 30 percent were not informed that stocks and other investments aren’t bank obligations. Telephone inquiries showed the sharpest gaps.
Torrential rains last week drenched Southern Iowa, causing erosion and prompting forecasts of warmer weather. Farmers report 83 percent of intended corn planted, 12 percent soybeans planted, oats 80 percent emerged with mixed conditions, and winterkill in alfalfa hay rising to about 15 percent. Topsoil moisture remains mostly adequate, with some deficits, while pastures show growth yet await more warmth.
Apple Computer plans a 50 percent reduction in its product line within a year and a boosted Internet focus. CEO Gil Amelio outlined a reorganization with new divisions and a move to integrate Internet access into the Macintosh OS, aiming to recover from decade lows.
The Supreme Court ruled unanimously that labor unions can sue on behalf of their members when employers fail to give 60 days notice under the Worker Adjustment and Retraining Notification Act. The decision allows suits for back pay and benefits in mass layoff cases such as the Brown Shoe Co. Dixont plant closing.
New York investors drove the Dow up 64.46 to 5582.60 as inflation worries eased before a major report. Advancers outpaced decliners 2 to 1 on the NYSE with total volume 394.18 million shares. Eastern Iowa stocks showed mixed moves led by Eastman Kodak and Weyerhaeuser as bond yields cooled below 6.9 percent.
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