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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 06, 2009
Page
7
Stocks rose sharply as Cisco Systems forecast upbeat earnings and optimism about a U S recovery spurred buying. The Dow gained 208.82 points to 10005.96, the first close above 10000 since Oct 22, while the S P 500 rose 20.13 to 1066.63 and the Nasdaq climbed 49.80 to 2105.32.
The Monticello Casey's General Store at 627 S Main St will donate half of all sales from 6 am to 11 pm Saturday to Camp Courageous. Volunteers will wash windows and fill gas tanks while Casey's staff assists, with Don Lamberti, longtime supporter, serving as honorary board member. Camp Courageous operates as a residential and respite facility serving about 5,000 campers yearly.
Freddie Mac reports the average 30-year fixed mortgage fell to 4.98 percent from 5.03 percent, the 15-year fixed slipped to 4.40 percent from 4.46 percent, and five-year adjustable rates eased to 4.35 percent from 4.42 percent, marking broad declines in weekly rates.
The Cedar Rapids Area Chamber of Commerce moves toward a 6 million Regional Economic Commerce Center in downtown Cedar Rapids. A 3.5 million federal EDA grant is expected. final approvals and funding detailed, with construction planned to start next spring and occupancy in 2011. The project will relocate several groups, avoid local property tax, and replace the former chamber building site at 525 First Ave NE.
Vieng Luvan and wife Vanna rebuilt their Asian Grocery & Gift Shop after the 2008 flood. Despite losing inventory, they reopened July 1 at 425 Third Ave SW with help from JumpStart Rental Assistance and a Chamber fund. Luvan was later laid off, prompting plans for a small cafe to provide meals and catering.
Iowa Utilities Board votes 3-0 to preliminarily approve MidAmerican Energy’s plan to boost wind capacity by up to 1001 megawatts by 2012, with possible $2 billion investment. Regulators note strong wind potential in Iowa and region and that no rate increase is planned through 2013.
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