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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 08, 2004
Page
14
Investors push major indices higher on easing oil prices and improving jobs data. Ford plans to end one of two shifts at its Hazelwood Missouri SUV plant, cutting about 800 jobs and shifting Explorer Mountaineer and Aviator production to Louisville.
The Treasury sold 19 billion in three month bills at 1.635 percent, up from 1.580 percent, and 17 billion in six month bills at 1.860 percent, up from 1.775 percent. The three month rate was the highest since October 21, 2002 and the six month rate since June 3, 2002.
Denver based Invesco Funds Group and AIM Advisors will pay 426.5 million total in a settlement over market timing improper trading. Invesco will pay 325 million, AIM 50 million, plus 1.5 million to the AG’s office. Fees reduced by 75 million over five years. Investors receive restitution as regulators claim fund leaders allowed rapid in and out trading.
HyperActive Technologies uses rooftop cameras to predict customer orders and peak times at Pittsburgh area restaurants. The system signals staff when traffic rises and estimates items to prep, with current deployments at seven McDonalds plus Burger King and Taco Bell.
Marion based OHE Industries merges with Fargo Assembly Co to boost growth as a minority owned contract maker of electrical wiring harnesses. OHE with about 2 million annual sales and 30 employees serves automotive and lawn and garden clients and will gain scale and technology access through the deal.
Farmers in southeast Iowa are advised to inspect corn for stalk rot amid a year of crop diseases fueled by cool wet weather. Crop specialist Mark Carlton says early removal of affected stalks can allow harvest to begin on damaged fields, with southern Iowa crops two to three weeks ahead of east central fields.
The report states soybean acreage with color leaves was 39 percent. It rates the crop as 3 percent very poor, 8 percent poor, 24 percent fair, 48 percent good and 17 percent excellent as of Sunday.
Cedar Valley Sports will close after more than a decade at 901 Oakland Road NE Cedar Rapids with a pre closing sale under way. Owner Bryan Franklin says the decision is a lifestyle choice to focus on family and a move to Iowa City after selling the building. The shop opened in 1991 with founders Beatty and Drake and moved to its current location years ago.
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