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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 14, 1994
Page
12
The Principal Residential Mortgage division will allocate 500000 to help qualifying buyers with 3 percent down payments. Borrowers must earn no more than 80 percent of area median income and live in low or moderate income or minority census tracts. Principal covers the remaining 2 percent or 1250 dollars, whichever is less.
Microsoft Corp and Intuit Inc announce a $1.5 billion stock swap to merge, expanding Microsoft’s reach into personal finance software. Parsons Technology cash and stock, and a leadership shift place Scott Cook and Bill Campbell in key roles. Regulators and shareholders must approve.
AP reports the Burlington Northern Inc and Santa Fe Pacific Corp merger would cut 2750 positions, including 36 in Iowa. They seek expedited ICC approval for a 2.5 billion deal claiming 450 million in savings and faster freight flow while Union Pacific presses a competing bid. ICC has 18 months to rule.
The Dow ended up 14.80 points at 3889.95 after September wholesale prices fell unexpectedly, lifting stocks briefly though gains faded. Eastern Iowa stocks showed 23 up, 12 down, eight unchanged. International Paper rose to 77, Raytheon slid to 63, Penwest to 24. Procter & Gamble jumped to 62 as it forecast record first quarter earnings.
Executives face loaded investor questions aimed at unveiling honesty and dedication. Answers must reveal integrity, loyalty, and a refusal to game the deal, or the investor could walk away. The text highlights examples about management, compensation, retirement plans, and conflicts of interest as critical test points.
Waterloo AP report says Deere and United Auto Workers remain deadlocked after more than two months of talks. UAW plans a Sunday vote on the latest offer seeking an extension. Deere seeks to preserve and enhance current pay. If no side budges, a strike could follow. The contract covers 11,400 workers across Illinois, Iowa, Kansas, Minnesota, Colorado and Georgia.
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