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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 03, 2009
Page
6
The Dow slid for a fourth day and closed at 9,487.67, its lowest since September 4, posting a 21.61 point loss as weak factory orders and higher jobless claims weighed on sentiment. The S P 500 fell 4.64 to 1,025.21 and the Nasdaq declined 9.37 to 2,048.11.
World Bank President Robert Zoellick warned that the lender could face tighter funds within a year if funding demands persist and richer nations do not provide more cash. The bank spent a record $33 billion in the year to June 2009 and plans $40 billion more this year with $100 billion available for middle income countries, risking rationing if exhausted.
Bank of America Corp. said its board authorized a $718 million dividend on preferred stock issued to the Treasury Department under the government bank rescue program. The Charlotte bank received $25 billion last fall and $20 billion in January after acquiring Merrill Lynch, with the government receiving quarterly dividends on preferred stock.
Banrd analyst Craig Kennison cut Winnebago Industries to under perform from neutral. He expects Q4 a loss of 7 to 8 million on about 65 million revenue, though he is positive on long term outlook as dealer inventories stay low and retail recovers.
Cardiologists PC the Cedar Rapids heart clinic will form Cardiologists LC as a nonprofit subsidiary of St Luke's Hospital starting Jan 1. The 17 physicians will keep offices at 1002 Fourth Ave SE and at satellite clinics in St Luke's and Regional Medical Center Manchester.
Des Moines based Diaper DuDee begins serving Iowa City in August with cloth diaper cleaning and delivery. Owner Andrea Foley lauds environmental benefits and ease, offering weekly pickups, pail supplies, and laundering in Charlie's Soap. Foley plans further expansion toward Omaha.
Iowa City's Diaper Dudee becomes the first local cloth diaper cleaning and delivery service since the early 1990s and remains the only one in Iowa. Pricing starts at 16 dollars weekly for 70 diapers with a one dollar increase per ten extra diapers.
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