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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 27, 2009
Page
6
A stronger dollar and overheating fears drag stocks on Monday. The Dow drops 104.22 to 9,867.96, the S P 500 falls 12.65 to 1,066.95, and the Nasdaq slips 12.62 to 2,141.85 as traders trim gains.
Audit Bureau of Circulations data show average daily circulation down 10.6 percent year over year for April through September, with Sunday circulation down 7.5 percent. The declines accelerate as ads fall and readers defect to the Internet, worse than the 7.1 percent drop from six months earlier and the 4.6 percent drop in 2008.
Energy markets show regular gas average rising for the 13th straight day to $2.671 a gallon, with a 0.6 cent overnight gain aided by a rally in crude oil. Crude settled around $78.68 a barrel after peaking near $82 last week, signaling continued price pressure into the holiday season.
China assists U S investigators examining reports of contaminated drywall that sickens residents and ruins houses. Billions in homeowner costs are possible as insurers struggle to provide relief while homes remain largely uninhabitable. American builders imported the wallboard during the housing boom when materials were scarce.
United Fire & Casualty Co reports a third quarter net loss of 10.2 million or 38 cents a share down from 16.8 million last year. Pretax catastrophe losses totaled 9.5 million versus 36.7 million. Katrina related claims exceed 11,000 with total Katrina losses at 289.2 million. Ramlo says Lafayette Insurance will cease writing Louisiana business Jan 1 while remaining operations continue under United Fire entities.
Dennis and Holly Nowell debut Red Carpet Bridal at 3717 First Ave SE in the Town & Country Shopping Center. The store spans 14,000 square feet with 21 dressing rooms and a VIP room, offering gowns, bridesmaids dresses, mothers and promwear, alterations, gown storage, and five Couture lines. The Nowells say focus is on customer service and broad display of wedding attire.
Cedar Rapids airport panel renews an 18 month deal with Ford Infrastructure & Environment to supervise a 46.8 million reconstruction of the Eastern Iowa Airport main runway. The firm has provided airfield engineering since 2005 and the amendment runs to June 30, 2011. The project includes a 7,000 foot taxiway as temporary runway during work.
Kalona pair Roger and Lynne Holdeman face a March trial on three counts of insurance fraud for allegedly seeking two million dollar life policies and a seventy five thousand policy in 2006 on a former nursing home resident. They previously faced related charges and convictions for tampering with records and misuse of Botox in Iowa's nursing facilities.
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