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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 15, 2004
Page
17
Stocks finished slightly up as investors stayed on the sidelines after weak retail data and a new oil price rise. Crude futures gained with Hurricane Ivan threatening Gulf rigs, light crude at 44.39 dollars on the Nymex. Dow rose 3.40 to 10,318.16. Nasdaq gained 5.02 to 1,915.40.
Kroger Co., owner of Kwik Shop in Eastern Iowa, reports second quarter earnings of 19 cents per share, below Thompson First Call’s 27 cent forecast. Net earnings total 142.4 million on 13 billion in sales, down from 190.4 million and 12.3 billion a year earlier, while shares fell over 4 percent to 15.98 on NYSE.
The Business Leadership Council, a Cedar Rapids based PAC, will fund raise for Democratic candidates in the coming election. It aims to serve as a clearinghouse for issues affecting small business and plans quarterly issues conferences. The group will examine Iowa economic strategies and retraining to boost job creation while remaining open to Republicans.
The Silos and Smokestacks partnership will receive 750000 from the federal government per Sen. Tom Harkin. The grant supports site linking and enhancements through technical assistance. Established in 1996, the National Heritage Area has awarded 894000 in challenge grants and leveraged about 20 million for state projects.
Regal Lager Inc recalls about 49,000 Baby Bjorn Carrier Active units after 93 reports of the back support buckle detaching from shoulder straps. No injuries reported. Consumers told to stop using the carriers and call 1 877 962 8400 for repair instructions.
Rockwell Collins selected for pre system development of the Airborne and Maritime Fixed Station JTRS program as part of a Boeing led team. Team includes Harris Corp L-3 Northrop Grumman and others with overall contract value over 54 million. Collins will handle radio design and fixed site integration and will compete in later phases.
Mary Ann Armstrong and nearly 900 workers face the end of Maytag's Galesburg plant. Many plan to retire or seek new careers as state funds run a career center offering training in nursing and tech fields. Knox County unemployment could rise as jobs evaporate and workers move or commute to other plants in the region.
Fort Worth based Pier 1 Imports Inc reports a 43.5 percent fall in second quarter income to 12 cents a share on a 3 percent store count decline. Quarterly sales rise 5.7 percent to 452.3 million while guidance for the year ranges from 1.05 to 1.22 dollars per share.
Commerce data show overall retail sales down 0.3 percent in August after a 0.8 percent rise in July. Excluding autos, sales rose 0.2 percent, with declines in furniture, clothing, department stores, bars and restaurants, while gains occurred at building and garden supply stores, electronics, sporting goods, and gasoline stations.
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