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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 08, 2008
Page
1
The unemployment rate rose to 6.5 percent, with 10.1 million jobless in October, the worst since 1991. Ford and GM faced big losses, signaling more cuts. Obama pledged to tackle the crisis while economists warned of continued deterioration.
Cedar Rapids city hall closed loose ends on a proposed flood protection plan to be built in coming years. The Louis Sullivan designed bank at 101 Third Ave SW will not be razed. A canals idea is rejected for cost and protection. Floodgates will be installed as needed. City Council discussion led by Jason Hellendrung of Sasaki Associates set to finalize the plan at a Wednesday meeting.
President elect Obama formed his economic team in Chicago and pressed Congress to extend unemployment benefits and pass a stimulus bill. He warned that bigger remedies must wait until he takes office January 20 and acknowledged the nation faces a difficult path to recovery.
In Coralville Iowa the Wig and Pen Pizza Pub owner Dick Querrey eyes reopening after flood damage that shut the Iowa City Coralville corridor for over two weeks. The June flood caused more than 21 million dollars in losses to local businesses along the strip.
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