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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Nov 28, 1987
Page
20
The chart lists August contracting values for Cedar Rapids Linn County Iowa City Johnson County and the state of Iowa. It shows the relative scale of activity across these regions for the month.
October 1987 new construction in Cedar Rapids Linn County and Iowa City Johnson County rose sharply per F W Dodge McGraw Hill. Cedar Rapids total reached 11.695 million, up 42 percent from 1986, with residential at 6.075 million and nonresidential at 5.62 million. In Iowa City Johnson County, October activity totaled 8.741 million, up 157.2 percent from 1986, though year to date shows mixed results across residential and nonresidential sectors. Nationally, October starts rose 6 percent to 261.4 billion with public works leading the rebound, especially highway and water sewer projects.
The Federal Reserve Board reported that the nations basic money supply M1 declined by 3.2 billion in mid November. M1 fell to 756.1 billion for the week ended November 16 from 759.3 billion prior week. The 13 week average was 755.8 billion, a 3.6 percent annual gain.
Teleconnect announces Denver expansion as its eighth major market. Dan Reeves, Broncos coach since 1981, will be the Denver spokesman, the ninth sports figure on Teleconnect's promotion team. Teleconnect reports rapid growth to over 155 000 subscribers and more than 90 million calls last year.
Iowa and Cedar Rapids cash grain bids show mixed corn beans and oats with prices for delivery to Cedar Rapids processors at 2:30 pm. Soybeans and corn deliverables fluctuate while hogs cattle and lambs trade with varied quotes and steady to weak demand amid Thanksgiving workflow.
No Joliet report today as the market column is shut for the Thanksgiving week. Prices and trading details are unavailable due to holiday observance.
Dr. Robert J. Weber of Rockwell International in Cedar Rapids receives a sole 1980s DARPA Strategic Technology Office honor for gallium arsenide aided microwave integrated circuit design for Navstar GPS receivers. Weber, an Avionics Group manager and 1979 engineer of the year, led a team developing a quarter inch square highly integrated, low power circuit.
The Dow fell 36.47 to 1910.48 as 511 stocks rose and 962 fell on the NYSE. Eastern Iowa equities mixed with 12 down, five up, six unchanged. Major declines included IBM, GE, Ford, DuPont, and McDonald's, while Texaco rose 2 percent amid TWA settlement talk. Overall market value dropped $25.78 billion and indices slid across NYSE and NASDAQ.
The U S Department of Labor filed a civil suit in Davenport charging Clinton Pallet Co. trustee Troy L. Puckett and his wife Judith with improper loans and conflict of interest transactions totaling over 375000 affecting a 43 employee plan with assets about 390000. The suit seeks restitution, removal as trustee, and an interim receiver for the plan.
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