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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 23, 2003
Page
9
McLeodUSA reports wider losses and fewer customers in its latest results. The company blames a recent FCC order for weaker revenues and higher costs, signaling ongoing regulatory headwinds shaping its financial outlook.
Stocks tumbled on Wednesday as several pharmaceutical firms missed expectations fueling a broad selloff. The Dow dropped 149.40 to 9,598.24, its steepest one day point decline since late September, while the Nasdaq fell 42.83 to 1,898.07 amid weak earnings signals.
Heartland Express Inc reports a 31 percent rise in earnings in its third fiscal quarter ended September 30 with revenue up 146 percent to 104.5 million. Basic earnings per share rose to 29 cents from 22, cash and investments grew to 186.5 million, and a 2 cent per share quarterly dividend was paid October 2.
Cedar Rapids law firm Bradley & Riley PC expands to Iowa City Coralville area with a 3100 square foot Tower Place office at 1 S Gilbert St. The move adds two new attorneys Michael Pugh and Sarah Swartzendruber with virtual operations across the Corridor. Paul Burns and existing partners solidify leadership in Iowa City.
Lands' End will shutter its West Union and Elkader manufacturing plants and a Dodgeville cutting department on April 2, eliminating 189 jobs. The cuts affect 82 workers in West Union, 57 in Elkader, and 37 in Dodgeville. The firm cites competitiveness in luggage and attache lines, with most luggage moving to wheeled styles. An Elkader plant sale prospect prompted the closures. Severance offers may include transfers to other Lands' End locations.
Rockwell Collins laid off 30 employees at Cedar Rapids area facilities while planning a $10 million expansion to add about 125 jobs in Eastern Iowa for the Joint Tactical Radio System. Cedarapids Inc. confirmed 20 layoff notices at Cedar Rapids operations, citing sluggish sales and competitiveness.
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