28 Oct 1988
Page 1
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 28, 1988
Page
1
Money fever grips Maytag Co. stock amid rumors a European firm plans a takeover. The report cites an industry analyst as the source of the speculative drive in trading.
A light joke notes a cobbler’s livelihood rests entirely on repairing shoes. The line plays on the word sole as a pun linking professional income to footwear. The brief item reflects a humor page caption style.
Health care officials and industry experts warn employers will face 20 to 30 percent increases in premiums next year driven by new medical technologies and aging demographics. The surge could raise U S health care costs beyond 500 billion dollars and may shrink coverage or raise out of pocket costs for employees. Experts say it may take a decade to regain control of health costs.
Iowa’s unemployment falls to 3.5 percent the lowest since 1979 with 52,900 jobless and total employment at a record 1,442,200. Cedar Rapids leads area rates at 2.9 while Des Moines sits at 4.0 and Ames at 1.2. Manufacturing and trade drive gains. services grow as seasonal school hires crest.
A Linn County survey shows nearly 9 000 residents potentially available for a start up company, with most currently employed but seeking greater security or self employment. The study, sponsored by area officials, ranks Linn County above Iowa county averages for recruitable labor.
In Manchester Iowa a pollster at Country Car Wash counts quarters in three stalls labeled Bush Dukakis and undecided to gauge support. As of Thursday 42 percent chose Bush 41 percent Dukakis and 17 percent undecided. The poll runs from Saturday until just before the election.
In Cedar Rapids a bankruptcy court granted Morris Plan Co. of Iowa and MorAmerica Financial Corp. a 30 day extension to open United Security Savings Bank by end of November. Judge Melloy also ordered discussions on interest for deposits under and over 1500 dollars as the plan adjusts to federal insurance requirements.
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