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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 12, 2004
Page
8
Stocks rose modestly as investors awaited third quarter profit reports and oil neared record highs. The Dow gained 26.77 to 10,081.97 while the Nasdaq climbed 8.79 to 1,928.76 as advancers and decliners stayed near even on the NYSE.
Alliant Energy boosted its quarterly stock dividend by 1.25 cents to 26.25 per share signaling improved financial strength and aims to provide a competitive return for shareholders. The 2002 cut from 2 to 1 dollar followed debt concerns raised by ratings agencies and angered retirees relying on the payout.
A Chicago based consultant concludes Ames should shut its coal fired power plant within 10 years with a long term plan for electricity supply. Sargent and Lundy completed the study in August and will present findings to the Ames City Council and a citizen advisory group. The summary urges a plan in 18 to 24 months for the next 20 years.
New York AP reports retailers pivot to holiday planning with quicker merchandise tweaks and steeper discounting. Sears says it will redo decor mid November. Analysts note fall hot sellers include silk wraps ponchos jewelry with muted colors fading and must have apparel lacking.
Monty Jones of Sierra Leone, sharing the 2004 World Food Prize with Yuan Longping, developed New Rice for Africa and built farmer partnerships across Africa, including 35 million cultivators. NERICA raises yields, speeds maturity, boosts protein, and cuts weeding from three passes to one. Jones toured Iowa as Des Moines prepares a live World Food Prize ceremony broadcast on Iowa Public Television.
A nationwide Nigeria strike to protest fuel prices shuts Lagos and threatens Niger Delta output while crude prices rise to about 53.64 on NYMEX and 50.66 on ICE. Nigeria is a major U S oil importer and Shell warns output may be affected despite near-term resilience.
Gasoline prices rose about 8 cents per gallon in two weeks as crude futures climbed to 53.31 per barrel. The national average for all grades reached 2.02 with self-serve regular at 1.99, mid grade 2.09 and premium 2.18. Regional highs and lows ranged from 2.35 in San Diego to 1.84 in Houston. Prices may fall if Gulf oil facilities are repaired, though a colder winter or supply disruptions could boost crude further.
Rockwell Collins will showcase its safety gains at the Environment, Safety and Health Fair on October 26 27 at the Rockwell Collins Recreation Center. The avionics supplier reports an 87 percent drop in workers compensation costs and a 25 percent fall in reportable injuries over five years driven by a strong ergonomics program. About 60 health and safety vendors will attend and roughly 2 000 people joined last year.
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