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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 17, 2002
Page
14
Markets closed mixed with the Dow up 67.49 to 8380.18 while the Nasdaq slid 15.52 to 1275.88. Trading volume totaled 981.88 million shares amid caution over earnings and Middle East tensions.
The Supplemental Terrorism Activity Relief program cuts SBA loan guarantee fees from 0.5 to 0.25 percent for loans to small businesses affected by terrorism and aftermath. In Eastern Iowa six firms including Oak Ridge Gallery in Amana and Fazoli’s Pizza in Waterloo obtained STAR loans, totaling 1.93 million locally and 1.1 billion nationwide.
U S lawmakers push bills to limit homestead exemptions used by wealthy individuals in bankruptcy cases. Proposals require 40 months of residency to claim the exemption and aim to keep lavish homes from being protected, as illustrated by cases like Scott Sullivan. Florida and several other states currently allow broad exemptions.
Procter & Gamble starts a saturation campaign to revitalize Clairol after acquiring it from Bristol-Myers Squibb in November. Rob Matteucci says the effort aims to re energize Clairol as a global hair color leader with TV ads a Times Square billboard and eight page inserts.
Union plans to picket Mercy Medical Center in Cedar Rapids as 15 member Teamsters bargaining unit, after voting against the hospital’s contract offer. The union urged top administration be involved and suggested binding arbitration, while the hospital cited market data and continued negotiations through its law firm.
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