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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 03, 2007
Page
24
Stocks edged up in a turbulent session as traders weighed the economy amid ongoing concerns about the financial sector. The Dow rose 27.23 to 13,595.10, the S&P 500 added 1.21 to 1,509.65, and the Nasdaq climbed 15.55 to 2,810.38.
The Federal Home Loan Mortgage Corp reports a 30-year fixed mortgage at 6.26 percent this week down from 6.33 percent. The five year ARM and 15-year fixed rates also slide to 5.98 and 5.91 percent respectively, with one year ARMs at 5.57 percent.
U S factory orders edged up 0.2 percent in September after a 3.5 percent drop in August. Strength came from nondurable goods like food, paper products and chemicals, with nondurable orders rising 2.1 percent.
The Securities and Exchange Commission reportedly began an inquiry into Merrill Lynch deals with hedge funds. The Journal says the transactions did not transfer risk but delayed Merrill Lynch exposure to risky mortgage debt, masking vulnerability.
A random survey of gas prices in the Corridor reports yesterday afternoon figures rounded to the nearest cent. The snapshot captures typical pump costs across stations, highlighting trends in consumer fuel expenses.
Coralville developers Watts Development and Southgate Development LLC plan Plaza on Fifth a $20 million six story building at Fifth Street and 12th Avenue. The project includes a 400 seat auditorium first floor retail space on the second floor 13 000 square feet of commercial space and 6 000 square feet on the third floor. The upper floors will be residential condominiums with a rooftop garden and options to purchase leased space. Final details await city approval with completion targeted for summer 2009 and leasing handled by Southgate.
Cedar Rapids entrepreneur Sheree Ramm runs Sheree's Skin Care Studio at 222 Third St SE offering organic products from Eminence and natural facials, microdermabrasion, and body treatments as safe alternatives to Botox. Prices range from 12 to 72 dollars for products and 10 to 100 dollars for services. Demand grows among women 30 to 65 and a few men, with space expanded in the Guaranty Bank Building.
Sheree's Skin Care Studio rents space in a well maintained 1895 bank building, occupying two rooms on the fifth floor. This week marks four years in business and four years as a licensed aesthetician since opening after graduation. Treatments address sun damage wrinkles acne rosacea and other skin conditions with no downtime, enabling immediate work return. Contact Cindy Hadish at 319 398 8428 or cindy.hadish gazettecommunications.com.
Career coach Cynthia Shapiro warns the holiday season blends rest with layoffs as many firms end their fiscal year in loss. She notes a 50 percent higher chance of job loss in Q4 and lists signs such as reduced bonuses, downsized parties, hiring freezes, and strained boss relations. Start job searching now before January demand rises.
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