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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
May 24, 1990
Page
26
Shareholders of Iowa Resources Inc. and Midwest Energy Co. approved their proposed merger with more than 90 percent of voting shares in favor. The Des Moines and Sioux City meetings reflected strong support for the consolidation of the two largest Iowa utilities.
United Airlines issued coupons for 35 dollars off round trips of 175 dollars or more, followed by Trans World Airlines cutting domestic round trip fares by up to 30 percent. American Delta USAir matched, with Northwest honoring United coupons. Promotions run through December with specific advance-purchase and Saturday-night-stay rules.
The Dow Jones industrial average rose 4.03 to 2856.26 marking its third consecutive record close and sixth gain in eight sessions. Volume showed mixed breadth with 753 up, 739 down, 517 unchanged on the NYSE.
The Bush administration told Congress on Wednesday it will need to borrow between 90 billion and 130 billion to resolve the S&L crisis. Treasury Secretary Brady cited a weaker real estate market as driving higher costs and more potential failures beyond the 50 billion authority in the prior bill.
Deere and Co of Moline reports record second quarter earnings of 144 million dollars, 1.90 per share, on 2.12 billion dollars in sales. Six months into the year profits reach 222.5 million, 24 percent higher year over year, with sales totaling 3.7 billion as farm economy recovery boosts demand.
Bob Taylor, technical director of the collision avoidance system program at Rockwell Collins in Cedar Rapids, was misidentified as Bob Norris in the photo caption that accompanied a Money page story on the program on Wednesday.
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