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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 09, 2007
Page
18
Wall Street finished a subdued session with losses as investors booked gains from the prior rally ahead of quarterly earnings. The Dow fell 22.28 to 14,043.73, the S&P 500 dropped 5.01 to 1,552.58, while the Nasdaq rose 7.05 to 2,787.37 on Columbus Day.
Alcoa Davenport Works will supply aluminum armor plates for the Army MRAP program. Under a Monday contract, the plant will deliver over a million pounds of armor plates per month to Rock Island Arsenal in Rock Island Illinois.
John Deere Dubuque Works will lay off 45 employees effective October 22, citing weak market conditions. General manager John May said the reductions affect production workers with the least seniority as equipment sales reflect a dip in home construction.
Meredith Corp licensed its Better Homes and Gardens brand to Realogy Corp owner of Century 21 Coldwell Banker and ERA to create a new residential real estate franchise system. Des Moines based Meredith will receive royalties based on sales from Better Homes and Gardens Real Estate. Realogy will also buy advertising in Meredith outlets and market Meredith magazine subscriptions through the brand.
A random survey of gas prices across the Corridor was conducted yesterday afternoon. Prices are rounded up to the nearest cent, reflecting typical variances by station and brand.
Organizers plan a three day event in the New Bohemia District titled Sustainable Living Renewable Resources and the Future. Speakers are mainly Iowa-based with topics on community building renewable energy and relocalization. Attendees can donate 25 to 100 dollars with in kind support from local groups.
Tom Miller and Sue Warner bought Schumacher Carpets in Cedar Rapids in 2005 and work long hours with two employees. They teamed with ActionCOACH Iowa Nebraska to learn to work on the business, not just in it, using a 90 day goal planning exercise to create quarterly top ten lists and a clear road map.
Investors saw a volatile quarter with mutual funds posting solid gains. Morningstar data show about 62 percent of stock funds earned some money, nearly one in five beating 5 percent, as the Dow rose above 14 000 again after a rough stretch and Fed cuts helped markets.
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