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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 16, 2011
Page
6
New York stocks climbed after five major central banks pledged joint support for Europe’s banking system. The Dow rose about 15 points to close near 1600, the S&P gained around 1 percent, and the Nasdaq advanced roughly 0.5 percent as investors welcomed the stabilizing plan.
The Kirkwood Center hotel in Cedar Rapids affiliated with Stamina Hotels and Resorts announced a branding shift to Summit. The move ties the hotel to Hilton under the Doubletree by Hilton brand, aligning with regional expansion and property partnerships.
Netfasine reduced its expected US subscriber count for the third quarter citing delays in separating DVD and streaming services. The company now projects fewer subscribers than previously forecast, reflecting higher prices for streaming and mail services and weaker demand.
Subaru recalls 69,590 Legacy sedans and Outback crossovers due to sunroof glass that could loosen and fall out. Models built between July 3, 2010 and July 8, 2011 had adhesive retainer inadequately applied. Dealers will inspect and fix for free. recall to begin next month per NHTSA.
California farmer Robert Garcia shows thriving sweet potato farms expanding from 240 to 1000 acres with a new Livingston packing plant. National demand rises as Americans eat more, with per capita use up and restaurants increasingly featuring sweet potato fries and roasted varieties.</s>
The H J Heinz Co plant at 5005 C St SW Cedar Rapids would add about 31 jobs with an 8,000 square foot lab expansion and bulk chemical storage under a $10.9 million upgrade. Iowa awarded $100,000 direct incentives and refundable investment tax credits, with corporate approval still pending. Priority One and state officials led the effort amid competition with other Heinz facilities.
Alcoa plans a 300 million expansion at Davenport and Bettendorf facilities, creating up to 500 jobs while retaining 200 current positions. The project, supported by a 3 million Iowa Economic Development Board incentive, will add 153000 square feet of renovation and 27000 new feet of production space, with construction slated to begin after permits.
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