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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 15, 2010
Page
18
Stocks fell for a second day as Europe’s bailout plan spending cuts raised global growth concerns. The Dow dropped 162.79 to 10,620.16, the S&P 500 lost 21.76 to 1,135.68, and the Nasdaq declined 47.51 to 2,346.85, while weekly gains remained sizable.
The Administrative Office of the U.S. Courts reports 1,531,997 bankruptcy filings in the year ending March 31 2010, up 27 percent from 1,202,395 the prior year. Consumer bankruptcies totaled 1,470,849 up 28 percent, while business debt filings rose to 61,148, up 25 percent.
The Federal Deposit Insurance Corp seized Satilla Community Bank in Saint Marys Georgia with about 134 million dollars in deposits and 135.7 million dollars in assets. The move marks the 69th U S bank failure this year and reflects a pace far above 2009 levels as losses mount from commercial property loans.
Kevin Nanke and brother Kory Nanke file a liquor license for Red's Public House at 112 Second St SE Cedar Rapids. The space, rebuilt after the 2008 flood from LoDo's Pizzeria, may offer food with a new bar. City Council review set for May 25 pending inspections.
Dancer's EDGE near Iawatha marks two years with plans to add Tiny Dancer preschool classes and daytime offerings for ages 3 to 6. Founders Charlie Vogl and Stephanie Westrom opened in 2008, built two studios during floods, and now run classes after 4pm with a growing summer program. They emphasize age appropriate curriculum and hold American Ballet Theatre certification. The studio has produced numerous award winners and draws regional students despite a slow economy.
New York AP reports a shift from two year wireless contracts to prepaid cell service, driven by lower costs and no long term commitments. With iPhone and Droid still sold on contracts, prepaid now offers sharp price cuts and flexible refill models attracting a broader audience including cost conscious shoppers.
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