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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 06, 2009
Page
6
Investors returned to stocks after a yearlong service sector rise and bank upgrades. The Dow up 112.08 points to 9599.75, the S&P 500 up 15.25 to 1040.46, and the Nasdaq 1000 up 20.04 to 2068.15. Oil hovered under 70 dollars as markets eyed third quarter earnings for economy signals.
Conde Nast blames tough economy for shutting Gourmet magazine and Modern Bride Elegant Bride and Cookie while keeping Bon Appetit. Portfolio and Domino also end, with Bon Appetit surviving. United Airlines adds all you can carry bag fee at 249 dollars per year for two bags per flight, covering up to eight companions under one confirmation.
Treasury prices barely moved as investors weighed strong inflation protected bond results against a buoyant stock market. The 10 year note slipped to 103 11/32, yield up to 3.23 percent from 3.22 percent.
Iowa and other north central states report much lower farm incomes than a year ago. Rabobank survey finds two thirds with incomes over 1 million say their earnings are much worse, while 40 percent of those under 1 million share the view. Prices for corn soybeans hay and hogs have fallen sharply since September 2008.
Jim Rossey, 79, has run the Starlite Room in Cedar Rapids for 50 years, baking tenderloins since early mornings. The neighborhood eatery, once part of H & H Co., now features a half pound Superburger and non breaded tenderloin while serving homemade chili and chicken sandwiches. Rossey expanded with Kenwood Plaza, facing parking challenges, and remains devoted to loyal families and community.
The National Motorcycle Museum will nearly double its space by moving from 200 BE Main St. to 102 Chamber Drive at the U.S. 151 interchange in Anamosa. The 36,000 square foot site will host rotating and interactive exhibits, expanding the collection of 240 to 250 motorcycles. Board President John Parham aims to elevate the museum by involving more collectors and featuring a 3,500 square foot banquet facility for events. Mark Mederski, formerly with the Motorcycle Hall of Fame, is hired as special projects director on a one year contract, with plans to open by June 2010 alongside J P Cycles annual event.
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