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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 16, 2001
Page
12
Bethlehem Steel Corp announces Chapter 11 bankruptcy weighing on a company with 13,000 employees and 74,000 pensioners. The Bethlehem, Pennsylvania entity plans debt reduction, union talks, and potential buyers or a merger partner amid five quarters of losses due to cheaper imports and high labor costs.
Boeing halts work on the 777-200LR for 18 months while seeking a launch customer. EVA Air holds orders for three but will not take delivery before May 2006. The plan faces demand and market challenges after the September 11 attacks. Gannett reports a 16 percent drop in Q3 earnings to 174.8 million on 3 months ending Sept 30.
The Treasury sold 13 billion in three month bills at a discount rate of 2.200 percent, up from 2.180 percent. Six month bills totaling 12 billion were sold at 2.160 percent, up from 2.150 percent. The implied yields were 2.243 percent for three month bills and 2.214 percent for six month bills. The Fed reported one year constant maturity bills at 2.39 percent, down from 2.40 percent.
The report counts U.S. households tuned to key news channels during prime time in the week. Data highlights viewership for channel 5 and other major outlets, showing trends in audience engagement and market reach.
Bargaining resumes between Maytag Corp and Machinists Local 1526 over the Amana Appliances production workers strike that began September 23. No details on offers were released as a meeting is scheduled, with workers seeking to preserve wage scales and health care cost protections.
Iowa farmers push through after rain, with 56 percent of soybeans harvested by Sunday and corn at 14 percent. Keystone area reports near completion on soybeans with yields around 55 bushels per acre, while state averages lag behind. The eastern district shows 50 percent soybeans and 13 percent corn harvested.
Dan Ciha and Colette Ciha Saltz have purchased Iowa City's Gay Funeral Home at 2720 Muscatine Ave and will rename it Gay & Ciha Funeral & Cremation Service. Anita Gay and her father George will remain on staff as owner Ciha reflects on a lifelong career in funeral service.
United Airlines will cut nearly 200 more daily flights at month end, bringing schedule to 1,664 flights daily from 1,850. Timetable revisions reduce early and late flights, focusing on peak hours amid post 9/11 demand slump and large workforce cuts.
TrueNorth Companies consolidates its local operations in downtown Cedar Rapids relocating three divisions to the 32,000 square foot 421 Fourth Ave SE facility. The move completes December 1 with plans to add about 50 more employees in the coming years.
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