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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 11, 2003
Page
17
U.S. stocks closed mixed with the Dow down 5.33 points at 9674.68 and the Nasdaq up 3.41 to 1915.31 after indexes hit 52-week highs. The week saw the Dow up 1.1 percent and the Nasdaq up 1.9 percent as mortgage rates rose to 5.95 percent.
The Agriculture Department projects Brazil will export 26 million metric tons of soybeans this month, surpassing U S shipments by about 2.4 million tons. Brazil’s forecast production hits a record 60 million tons while U S production edges lower, raising soybean prices to around 6.95 per bushel.
Hawkeye Seed Co, a historic Cedar Rapids business dating to 1868 through Hamilton Seed, closes its doors after 136 years. Auction set for Monday and Tuesday at 10 a.m. will sell off fertilizer, antique scales, dog boots, lawn care items, and more as owners retire and investors convert the building to lofts.
In Washington the Senate Finance Committee voted to cut the small business SUV deduction from 100000 to 25000. Auto makers urge expansion to all vehicles saying current limits unfairly favor larger vehicles and harm small business users. Taxpayers for Common Sense supports reducing the loophole for revenue.
A Winneshiek and Howard counties committee interviews two firms to select a consultant for a two phase feasibility study of a regional airport serving Decorah and Cresco. Federal funds cover 90 percent, with local governments covering the rest. Public hearings follow phase one shaping sites and funding.
Lawmakers propose a carve out to federal child labor rules allowing 14 to 18 year olds, finished with school, to work in Amish wood mills if not operating machines and under supervision. Critics warn the plan may be unconstitutional and endanger youths amid high death rates in sawmills.
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