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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 01, 2007
Page
20
Wall Street moved up as the Federal Reserve signaled easing risks from recent credit crises. The Dow rose 137.54 to 13,930.01, the S&P 500 gained 18.36 to 1,549.38, and the Nasdaq climbed 42.41 to 2,859.12 as rates were kept on track for a December decision.
Construction begins this month at Allen Hospital in Waterloo on the 70,000 square foot Pauline Barrett Pavilion to house the new emergency department and Allen Heart and Vascular Center. The Allen Foundation capi tal campaign has raised over 10 million dollars and associates have pledged more than 1 million dollars, the largest in Allen's history.
A yesterday afternoon survey lists unleaded regular prices at several Cedar Rapids and Iowa City area stations. Road Ranger and Casey’s show $3.00 and $3.00 respectively for regular, with nearby stations at $2.99 and $2.89 to $2.90. Low price noted at $2.12 in 2006 context.
Rockwell Collins reports 18 percent rise in fourth quarter earnings per share to 93 cents, with net income up $18 million to $156 million. Full-year net income climbs 23 percent to $585 million and EPS to $3.45. Company forecasts 2008 EPS of $3.80 to $3.95 and sales of $4.7 to $4.75 billion despite 787 delivery delays.
Al Schmidt launched Metro Video in 1985 to serve Cedar Rapids with audio video production and Web design. The firm grew from two employees to a two story Hiawatha building, expanding into graphic design, advertising, and commercial photography as Web design and hosting are seen as the future.
The Second Act of Cedar Rapids celebrates four decades with three consignment stores offering men and women’s apparel, household goods and sportswear as digital camera quality enables large prints. Metro Studios opens a Scottsdale office with 20 employees to attract more clients, while most work remains in Iowa and beyond.
The Federal Reserve reduced the federal funds rate by a quarter point to 4.50 percent, the second cut in six weeks, citing a housing slump as the likely drag on growth. Officials signaled future cuts are unlikely in December, and banks like Bank of America Wells Fargo and KeyCorp cut prime rates to 7.50 percent, lifting Wall Street with the Dow up 187.54 to 13,930.01.
A writer weighs DIY will software against hiring a lawyer. She and her husband canceled a lawyer visit to save money and used software to designate guardians and a trustee. An attorney reviews the result, noting gaps that a lawyer would address, suggesting a more tailored plan with peace of mind.
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