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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 07, 2003
Page
13
Stocks rose modestly with the Dow up 22.67 points to 9594.98 and the Nasdaq adding 12.89 to 1893.46 as investors awaited upcoming earnings reports. Volume was light and breadth favored advances 3 to 2 on the NYSE.
Deere & Co and the United Auto Workers ratified a six year deal benefiting about 7,000 workers and 17,000 retirees. New hires since 1997 gain roughly 30,000 over the contract while pre 1997 workers gain about 25,000. Health care remains paid by Deere with a new preferred provider network and higher co pays. No plant closings are guaranteed during the term.
Iowa farmers have harvested 56 percent of soybean acres, well above the five year average of 42 percent, with yields averaging 30 bushels per acre and ranges from 20 to 45. USDA forecasts 403.6 million bushels for Iowa, down 18 percent from last year, while futures rose 6 cents to 6.84 per bushel.
Iowa notes show corn harvest in early stages with 17 percent complete as of Sunday while soybeans reach 48 percent in East Central District including Linn and Johnson counties. December corn futures fall to 2.21 per bushel as USDA projects season average price 2.10 to 2.50. Harvest farmers focus on soybeans awaiting corn drying.
Rockwell Collins hosts its second annual Best Places to Work Fair inviting over 650 Cedar Rapids Iowa City Technology Corridor companies. The event runs through Oct 17 at the Recreation Center with an Oct 15 show featuring 50 vendors offering health safety ergonomic and environmental products. A four year Ergonomics program cut injuries from 2.3 to 1.9 per 100 employees and lost time cases 0.68 to 0.32. Workers’ comp costs dropped from 2.3 million to 300000.
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