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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 14, 2009
Page
16
Major indices fell with the Dow down 184.22 points to 8284.89 the S P 500 off 24.43 to 883.92 and the Nasdaq 51.73 lower at 1664.19. Commerce data showed April retail sales down again while RealtyTrac reported rising foreclosures.
Benchmark crude for June delivery falls to 58.02 a barrel on the New York Exchange while Brent settles at 57.34 on ICE Futures. Gasoline prices rise nationwide with Memorial Day travel lifting the national average to 2.267 per gallon per Wright Express.
PAETEC Holding Corp. chairman and CEO Arunas Chesonis says the downturn creates opportunity as the seventh-largest U.S. telephone company expands its national footprint. He notes flexible pricing and an equipment-for-services program funded at over $100 million, with a larger sales funnel and plans for future acquisitions after integrating McLeodUSA.
John Berge and his son John Carl Berge launched Czech Outlet at 76 16th Ave SW in Czech Village sharing space with Two Star Detective Agency. The elder Berge, turning 80, has run the detective business since 1984 while the son previously ran a liquidation store and trade show ventures before returning to Iowa last summer for a family reunion. The flood rose nine feet, prompting prep of radios and equipment before waters added six more feet.
In Czech Village after the flood, the GazetteOnline interactive report It Takes a Village tracks progress. Czech Outlet at 76 16th Ave SW remains open 10 am to 5 pm Tue Sat. phone (319) 364 0001. Berge estimates $250000 in inventory lost and at least $125000 spent on rebuilding as he stayed to muck out the building.
Washington retail data show a 0.4 percent drop in April, marking a second straight decline and dimming hopes for a near-term recovery. Economists cite persistent nervousness over layoffs and furloughs as households save more and spend less despite stimulus and tax relief.
Dorothy, 91, sees her savings fall from 207600 to 121000 after a string of broker changes and unclear guidance. The piece urges consulting a certified financial planner or CPA to review investments, income, and spending to determine if funds are dwindling from risky funds or overspending.
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