10 Sep 1987
Page 1
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 10, 1987
Page
1
Iowa Today reports the University of Iowa Armory beside the Field House will be torn down to clear the way for a proposed hospital. Inside info highlights UNI linebacker Dave McCorvey who will play his first game at the Humphrey Metrodome after selling popcorn there.
A light quip compares being called to the carpet by a boss with buying a toupee. One implies scolding and accountability, the other a humorous image of the carpet being called to you. The joke lands as a playful take on work stress and personal appearance.
Bruce Fisnch reports a signed letter of intent for the sale of Peoples Bancorp to Norwest. The deal would include Peoples Bank and Peoples Mortgage and Investment Co, potentially leaving Cedar Rapids with only City National Bank and Guaranty Bank and Trust Co. Final terms await a definitive agreement, shareholder approval, and regulatory clearances. No management changes planned. Ted Welch chairs P B Bancorp.
A Welch family tradition at Peoples Bank spans from 1900 with Frank Welch rising from clerk to president by 1933. Ted Welch, current chairman, began in 1935 and plans retirement in 1988, with his son Peter now senior vice president and senior trust officer. The Welches are the largest single owner group among roughly 200 stockholders, and while the family regrets losing majority control, regional banking progress continues in a state lacking regional banking provisions.
Cedar Rapids will host the Take Off Pounds Sensibly convention for three days in summer 1993. The event, expected to bring 1,150 hotel rooms daily and about $5 million to the local economy, was approved by the convention board 9 to 1, beating Charleston West Virginia for the meeting.
A Times CBS News Poll shows 59 percent of American Catholics view Pope John Paul II favorably while 5 percent oppose him. The pope arrives in Miami for a 10 day US visit to reinforce Catholic identity amid doctrinal splits on birth control ordination and divorce among American Catholics.
Manila AP reports Corazon Aquino faces a cabinet shake-up as 25 cabinet members and three CGG officials resign in a 15 minute emergency meeting after the August coup attempt. Jok er Arroyo, Aquino’s executive secretary, is among those resigning amid pressure from pro business interests and critics.
Iowa high school students rate AIDS as the leading health worry with 51 percent saying they are very concerned and 22 percent somewhat concerned. Tim Lane notes Iowa first state to show AIDS as teens' top concern in a survey of 665 students conducted in classrooms.
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