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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 02, 2009
Page
5
A broad market pullback spread after rumors of a bank failure revived investor anxiety. Major indexes dropped about 2 percent as the Dow fell 185.68 to 9310.60, the S&P 500 slipped 22.58 to 998.04, and the Nasdaq declined 40.17 to 1968.89 ahead of Friday’s employment report.
Ford Motor Co reports an August sales increase of 17 percent versus a year earlier aided by the Cash for Clunkers program. Chrysler and GM posted declines, with Chrysler down 15 percent to 93,222 vehicles and GM at 246,479 cars and light trucks, down 20 percent. Freedom Communications filed for Chapter 11 bankruptcy protection, citing ad declines and recession, while vowing to continue publishing. The Irvine, California company, linked to a 2004 Blackstone Providence deal, employs about 8,200 and runs 15 states.
The United States and Cuba will begin talks this month to resume direct mail service for the first time in nearly 50 years. The negotiations are set for September 17, reflecting ongoing efforts by the Obama administration to engage with Cuba.
The Welfare for Animals group releases a video from a Spencer hatchery showing chicks fed into a grinder and lifted by the necks. The campaign targets major chains Hy-Vee and Walmart with calls for warning labels on eggs. Hy-Line International says euthanasia by maceration is approved by the AVMA, while state officials note laws against injuring livestock contrary to accepted practice.
Mercedes Benz Audi Porsche and BMW aim to shift American views on diesel, toutting 25 to 40 percent higher fuel efficiency and lower emissions. BMW and Audi run large ad campaigns while Porsche cashes in with the diesel Cayenne, which accounts for 60 percent of its sales despite higher price and efficiency.
Cedar Rapids City Market Inc holds an informational meeting for vendors and the public to discuss a year round indoor and seasonal outdoor market. About 60 vendors are registered for Thursday's session at Horizons Family Services. The group aims to raise around 90000 by year end and may pursue I-Jobs funding in January if a location and support materialize.
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