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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 29, 2011
Page
10
In New York, stocks closed modestly higher as optimism waned after a strong rally. The Dow edged up 23 points to 12,231, the S&P 500 rose slightly to 1,285, and the Nasdaq declined 1 point to 2,737 as analysts questioned details of a new fund plan.
Rockwell Collins reported fourth quarter fiscal year earnings up 20 percent with net income rising to 175 million dollars from 150 million. Earnings per share climbed 19 cents to 1.13 as defense sales fell while overall revenue remained strong.
Clear Channel Communications dismissed some on air and off air staff as part of a pacing shift to attract advertisers beyond single markets. The company declined to specify the number of employees let go. It operates about 850 radio stations with 12 000 employees. The cuts included Carla Davis, an on air morning host at WMT FM Cedar Rapids.
Whirlpool Corp reports third quarter net income of 177 million dollars and earnings per share of 2.27. Adjusted earnings miss forecasts at 2.35 share. The company cuts 5000 jobs mainly in North America and Europe.
CCal 100 Hawk Ridge Drive LLC of Austin, Texas purchased The Lodge in Iowa City, a five-building student rental complex built in 2004 with 561 units, for 21.2 million. Ray-Cal Iowa LLC of San Antonio sold it. Southgate Development Services and Hendricks and Partners brokered the deal. Occupancy rose from 70 to 100 percent since 2010.
ROY, Mo. Adam King scored a truck driving school placement after months of job searches and Army trucking experience. With a CDL tested, he will drill under a trainer for weeks before solo runs. Industry says demand is rising as regulations tighten and insurers favor seasoned drivers.
Airlines earned 1.5 billion dollars in fees from checked luggage and reservation changes in April to June, up 1 percent from a year earlier and 8.5 percent from the prior quarter. The data cover only disclosed passenger charges. other fees are folded into broader revenue categories. The DOT proposed reporting 16 more fee categories, which airlines oppose as burdensome.
Pella Corp will offer early retirement incentives and voluntary departure options at its plants in Pella Carroll Shenandoah Sioux Center Illinois and Oregon to offset a more than 70 percent drop in new home construction since 2006. The company will close a plant in South Carolina as part of the restructuring.
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