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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 08, 2008
Page
18
Buyers returned to Wall Street after two days of losses as major indexes jump over 2 percent led by the Dow to 8,943.81. The S&P 500 adds 26.11 and Nasdaq rises 38.70 as traders weigh Fed data and rising consumer borrowing in September.
Lennox Industries will close part of its Urbandale distribution center and shift or cut 140 full time jobs over the next few years. About 35 positions may move to a Marshalltown site while another 25 could be relocated elsewhere as 2009 begins. The slow economy also hits Star Building Systems with 24 cuts at Monticello plant, 18 percent of its workforce. Star is a division of Houston based NCI Building Systems.
A selective survey of gas prices in the Corridor shows regional variation as of yesterday afternoon. Prices are rounded to the nearest cent, highlighting the range of costs motorists encounter daily.
Experts warn that VeraSun Energy bankruptcy terms risk costly impact for farmers and grain elevators who supplied grain in the 20 days before the Oct 31 filing. The company seeks priority payment only if suppliers continue selling at current market prices.
Raining Rose Inc a Cedar Rapids natural body care maker rebuilds after flood damage at 407 Ninth Ave SE losing production lines and machinery. CEO Chuck Hammond praises staff for keeping customers and plans growth with new products and improved storage and operations.
A Kiplinger summary debunks four common startup myths. It argues that startup financing can start with about $25 000, that banks lend to young firms, venture capital favors tech stocks, and industry choice heavily influences growth prospects.
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