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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 01, 2005
Page
16
A Commerce Department report shows September personal spending up 0.5 percent, reversing August decline, signaling resilience after hurricanes Katrina and Rita. The Dow rose 37.30 to 10,440.07 and the Nasdaq jumped 30.42 to 2120.30 while oil and gasoline futures fell to multi month lows.
In Monday's weekly auction the three month T Bills sold at 3.890 percent and six month bills at 4.125 percent. Prices for a 10000 bill were 9901.67 and 9791.46 respectively while the one year yield rose to 4.26 percent from 4.19 percent. Principal Financial Group reported Q3 profit fell to 210 million from 298.8 million with revenue at 2.21 billion up from 2.1 billion.
A random survey reports gas prices in the Corridor as of yesterday afternoon. Prices are rounded up to the nearest cent at a7 Lst Ave Co.
A Cedar Rapids press conference backed Alliant Energy's plan to sell its majority stake in Duane Arnold Energy Center to FPL Energy. Lawmakers Dick Taylor and Chuck Larson cited job preservation and investment, while the ad hoc Coalition for Affordable and Reliable Energy urged relicensing. The Iowa Utilities Board begins hearings in Des Moines with regulatory review by the Nuclear Regulatory Commission ongoing.
Chad Keating, 28, a part time farmer, works 120 acres owned by Lynn and Cynthia Novotny in Iowa. The land has deep roots dating to 1857 when Pauline Stepanek’s great grandfather purchased it after immigrating from the Czech Republic. The Novotny family aims to keep the farm intact and away from housing development.
Saks sells its Northern department store group including Younkers to Bon-Ton Stores for 1.1 billion in cash, expanding to 280 plus stores with sales around 3.5 billion. Bon-Ton assumes about 85 million in liabilities, adds 142 Saks outlets, and plans 2006 closing of the deal.
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