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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 03, 2003
Page
14
The Nasdaq composite surged to a 17 month high as upgrades to IBM and Dell Computer spurred momentum. Analysts cited rising optimism with the index up 31.03 points to 1,841.48 and the Dow gaining 107.45 to 9,523.27 as advancers outpaced decliners nearly 3 to 1 on the NYSE.
AT T files a 10 million civil fraud and racketeering suit in Virginia alleging MCI routed long distance calls through Canada to force AT T to pay fees MCI should have paid. MCI calls the claim a commercial dispute aimed at headlines. Casey's reports higher first quarter net income.
The Mid-America Business Conditions Survey shows the Midwest manufacturing index at 60.2 in August, the highest in over three years, with strong readings in new orders 75 production 68.8 and exports 57.1. Iowa's index rose to 62.3 as firms expect solid 2003 job growth.
Iowa soybeans suffer in pod filling stage under high heat with stress noted by Rich Balvant of Ag Management Services. Corn test weights may be lighter than average as conditions vary by rainfall. Farm Service Agency to survey crops for disaster relief at request of Senator Chuck Grassley. Farmers like John McCardle and Chris Platner report dry ground, with yields predicted near but below average. corn statewide rated mostly fair to good while soybeans show weaker prospects.
A Des Moines AP report notes that 77 percent of Iowa employers seek changes to the national health care system to reduce insurance costs, while 70 percent oppose a government based single payer plan. The Lind & Associates survey of 620 of 1,657 randomly chosen firms with 20 plus workers shows 91 percent want Iowa health care fixes, with a 3.7 point margin of error.
McDonald's launched a global advertising push debuting the slogan I'm lovin' it in Munich Germany. The campaign targets younger consumers and families as the chain seeks to refresh its image amid a turnaround with a new CEO and numerous restaurant closures.
Liberty Bank plans a 4500 square foot Coralville office at Liberty Square 119 2nd St Suite A with drive up ATM two teller lanes and night depository. The West Des Moines bank is a Liberty Bankshares Inc subsidiary serving Eastern Iowa with branches in Cedar Rapids Iowa City Dubuque East Dubuque and more.
NBC and Vivendi plan to combine NBC television network cable channels and Universal Pictures into a new company potentially named NBC Universal. The deal would create a major media group with about 13 billion dollars in annual revenue, tying NBC to Universal Television and popular franchises.
PETA ends its July lawsuit against KFC after the company and Yum Brands agree to modify statements on its site and customer service about chicken welfare. PETA claimed misrepresentations about treatment and sought an injunction against deceptive advertising.
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