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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 25, 2003
Page
16
The Nasdaq fell 3.1 percent to 1 843.70 and the Dow slipped 1.6 percent as oil production cuts from OPEC sparked a broad market selloff. Analysts cited quarter-end profit-taking and lingering recession fears alongside a mixed bag of corporate moves.
OPEC, meeting in Vienna, agreed to trim its oil output target by 900,000 barrels a day to 24.5 million starting in November. The move aims to keep the benchmark blend between 22 and 28 dollars as market supply remains high and demand softens in early 2004. Iraq’s return to the market and Venezuela’s objections shape the decision.
Cedar Rapids Airport Commission approves a one year agreement with Qwest Communications to provide pay phones and handle long distance calls via a third party. Concession fees, 15 percent of local and in state long distance revenue, dropped from 2002 to 2003. AT&T had previously supplied the service and terminated its deal.
MercyCare adds Tama clinic known as MercyCare Tama effective Sept 1. Wille Medical Center founder Dr. Jerry Wille and nurse practitioner Tricia Thompson will continue seeing patients as MercyCare develops a regional health plan for Tama Toledo and area with possible mobile mammography and specialty clinics. Contact number listed 641 484 3333. Hours 8 to 5 weekdays and 8 to noon Saturdays. Terms of transfer not disclosed.
Rockwell Collins joins Boeing and Northrop Grumman on a six year 273 million FABT contract to upgrade satellite communications. The program includes airborne fixed and portable terminals with two Rockwell subcontracts totaling 13.7 million to support Milstar systems and develop a Milstar low data rate waveform software. Greg Churchill says the team will leverage software programmable radio expertise.
Microsoft confirms closing chat in 34 markets including Europe Latin America and Asia on October 14 while preserving US Canada Japan and Brazil access. The move aims to curb criminal solicitations sexual predators and pornographic spam, with officials declining to disclose user numbers.
More than 860 Quaker Oats employees in Cedar Rapids voted to approve a four year contract under PepsiCo ownership. The deal includes wage increases and lump sum payments, with improved contract language and a new health club membership subsidy. The plant, the world’s largest cereal mill, remains a community resource and job-producer. The ratification stood at 84 percent.
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