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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 05, 1988
Page
20
Protest leaders call for a renewed seven year campaign accusing Nestle of failing to meet 1984 agreed terms. Action for Corporate Accountability expands protest to American Home Products with focus on Nestle Taster's Choice and Carnation Coffee-mate, and AHP Anacin and Advil. Nestle denies violations.
A study by the Committee for Economic Development calls for updated government rules and tax policy to boost U S business competitiveness abroad. It warns politicians often frame trade as a threat instead of opportunity and stresses education and training as essential to maintaining U S economic leadership.
American Honda Motor Co. recalls all 1988 NX650 motorcycles over a front hub bolt loosening risk. Dealers will replace front wheel hubs free of charge on 2,032 units sold. This model’s first year, severe use may loosen bolts securing the brake disc, risking brake failure.
The Healthcare Financial Management Association warns that insufficient Medicare and Medicaid payments fail to cover rising hospital costs. Robert L. Clarke says without policy changes, more hospital closings and a drop in patient care quality will follow.
Pillsbury Co shares rose on news Grand Metropolitan PLC made a surprise 5.17 billion tender offer at 60 dollars a share for all 86.2 million common shares. Pillsbury moved to block the bid in 13 state courts as trading remained volatile on the NYSE with shares near 57 dollars.
Sun Co. stockholders approve a major restructuring that spins off its $4.2 billion domestic gas exploration and production unit, creating two firms. The plan cuts about 1,300 U.S. jobs from a total of 20,000.
The House Banking Committee approved by 42 to 8 a measure to abolish FADA, the agency overseeing insolvent savings institutions and their assets. Critics cited favoritism and mismanagement of 3.9 billion dollars in loans and real estate. assets would revert to the FSLIC.
Eastman Kodak Co. unveils a new 35mm color film named Ektar in a predominantly black box ending an 85 year yellow box tradition. The film targets advanced amateurs and is not offered in popular market speeds 100 200 and 400, but in speeds 25 and 1000.
Coralville company Gold Ribbon Sound Cinema plans to move its offices to Cedar Rapids. It will continue selling gold ribbon speakers and build a prototype theater in downtown Cedar Rapids within 60 days. A showroom cinema will demonstrate the system for hotels and entertainment complexes, seating about 40 and using studio quality surround sound.
The column explains evaluating CD choices by safety rate and early withdrawal penalties. It highlights Rate Watch as a source listing insured banks, rates, and penalties, and gives example rates from the publication such as 9 percent for 1 year and up to 9.7 percent for 10 years. Subscriptions cost from 20 to 99 dollars annually.
The Dow fell 3.20 to 2102.06 as investors worry over interest rates offset any takeover chatter. NYSE volume reached 157.76 million shares with 658 up, 778 down, 524 unchanged. Pillsbury jumped 18 to 57 on a $60 takeover bid from Grand Metropolitan PLC. Quaker Oats rose 1.5 to 55 4.
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