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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 13, 2009
Page
6
A jump in energy inventories spurred fears of weaker oil and gas demand, sending stocks lower. The Dow fell 93.79 to 10,197.47, its biggest one day drop since Oct. 30, after a six day gain run. The S&P 500 lost 11.27 to 1,087.24 and the Nasdaq declined 17.88 to 2,149.02.
AEGON NV the parent of AEGON USA in Cedar Rapids reports a third quarter net income of 215.5 million after a $489 million loss a year earlier. The quarter benefits from lower impairment charges and faster cost cuts while new life insurance sales drop 22 percent to 714.4 million. The company reaffirms plans to repay 1.49 billion of Dutch state aid by November 30.
NEW BUSINESS MAC Xpress to open in downtown Cedar Rapids at 203 Second St SE on Monday. The fitness center operates 24 hours, seven days a week in the Higley Building’s renovated ground-floor space. This is the third MAC Xpress by Wayne and Jackie Meier, following 2006 Hiawatha and 2008 Fairfax locations.
First time jobless claims fell to 502000, seasonally adjusted, the lowest since January 3 and beneath economists’ forecasts. Experts say claims must drop into the high 400000s to signal potential near term job gains, with some predicting improvement by early next year.
Environment Iowa reports Iowa CO2 emissions rose 35 percent from 1990 to 2007, faster than the national 19 percent. The group cites coal-fired utilities as the main driver, urging senators to back Clean Energy Jobs and American Power Act, while Cedar Rapids pursues LEED standards and denser housing to curb emissions.
Dave Morton and Jeff Westrom describe J.W. Morton & Associates as built on relationships over 25 years. From starting in Westrom’s mother’s basement to a 1998 office at St Andrews Court, the agency grew with clients like Miracle Refrigeration and Grinnell, serving nearly 300 clients in 40 industries. Their success hinges on entrepreneurial clients, bold marketing, and strong family support.
AEGON NV designates Mark Mullin as chief executive officer of its Americas unit in Cedar Rapids. Mullin, 47, will replace Patrick Baird who retires. Mullin has led AEGON Americas since January and joins the AEGON Management Board. Baird will join AEGON USA board roles and work on public service projects after retirement.
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