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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 26, 2009
Page
8
Stocks gained slightly as weekly unemployment claims fell to a year low and new home sales rose. Trading volume was light ahead of Thanksgiving with the Dow up 30.69 to 10,464.40, the S&P 500 up 4.98, and the Nasdaq added 6.87 to 2,176.05 as markets closed early for the holiday.
Federal court data show about 1.4 million bankruptcy cases filed from Oct 1, 2008 to Sept 30, 2009, up 34.5 percent from the prior year. Chapter 11 filings surged 68 percent while business filings climbed 52 percent and non business filings rose 34 percent. In a separate action the U S Department of Transportation fined Continental Airlines ExpressJet and Mesaba Airlines a total of 175000 for a Rochester Minnesota overnight delay incident affecting 47 passengers when no TSA screeners were on duty. The Aug 8 ExpressJet flight from Houston to Minneapolis/St Paul diverted to Rochester due to bad weather, landing at 12:30 a.m. and leaving passengers onboard until 6:15 a.m.
Deere and Company reported fiscal 2009 ended with a near $874 million profit but a $223 million fourth quarter loss driven by pension costs and job cuts. Sales of farm and construction equipment fell 28 percent in the quarter. Deere, based in Moline, Illinois, is the largest U.S. maker of farm equipment.
Firelight LLC converts Blairstown facility to cellulosic ethanol using organic industrial waste from Cedar Rapids and aims for about 6 million gallons per year with first production in early 2010. Fiberight purchased the idle plant for 1.65 million and plans heavy site investment while contracting APS Engineering for conversion.
Gindy Hadish reports Al Zindrick will open Al's Blue Toad on Dec 1 with signatures like roast pork sauerkraut dumplings and goulash. The renamed venue replaces Zindrick's Czech Restaurant in Czech Village after 2008 flood damage and sale of nearby Red Frog.
Al's Blue Toad at 86 16th Ave SW plans a December open with daily hours 11 am to 2 am except Sundays. Cedar Rapids man Dave Eberle joined as partner to reopen the restaurant after flood damage aided by a $20,000 Chamber grant. Owners aim for a casual, affordable menu including roast duck and look to nearby Czech Village developments.
Toyota will shorten pedals by about 0.75 inches as a stopgap while developing replacement pedals. New pedals installed starting April, with some cars getting brake override systems. The recall covers Camry Prius ES350 and other models. Toyota emphasises safety and that floor mats caused jams, not electronic controls.
Stores including Toys R Us Walmart and malls push practical items like socks diapers and fleece jackets for Black Friday as layoffs bite. Shoppers focus on essentials such as gloves sweaters blankets and undergarments with staples expected to drive early purchases despite fewer shopping days and cautious spending.
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