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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 26, 2009
Page
10
Stocks dropped for a third day after manufacturing and home sales data disappointed. Durable goods orders fell in August marking a second decline in three months and signaling a slow factory rebound. Dow fell 42.25 to 9,665.19. S&P 500 down 6.40 to 1,044.38. Nasdaq down 16.69 to 2,090.92.
Des Moines based Principal Financial Group says some employees will receive a 2 percent raise after earlier spring pay cuts of 2 to 10 percent and layoffs. Executives who had salary reductions remain exempt.
Pfizer and Wyeth announce the sale of animal health product assets to Boehringer Ingelheim for assets and IP from Wyeth Fort Dodge portfolio, including facilities in Fort Dodge. The deal aids antitrust and regulatory measures as Pfizer agrees to acquire Wyeth for $68 billion.
California air regulators vote 9 to 0 to impose a statewide carbon fee on utilities, oil refineries, and other polluters to fund implementing the 2006 global warming law aiming for a 25 percent emissions cut over the next decade despite industry opposition and potential lawsuits.
Theresa Carbrey shows Dane Kinzie and Risa Dotson Eicke vegetables in Earth Source Gardens during a Thursday tour. The prototype community garden created by New Pioneer with Harvest Farm and Preserve offers fruit samples and a Sunday tour from 11 a.m. to noon.
The Great Recession has transformed the American workplace with lasting effects. Unemployment nears 9.7 percent with forecasts above 10 percent, while manufacturing and retail jobs shift abroad. Firms cut hours and use furloughs to trim costs, and many workers face retraining as millions stay out of work or shift to part-time roles.
Iowa eligible for a federal two tier emergency extension adding 13 weeks to state unemployment. About 5,000 Iowans who exhausted benefits after June 27, 2009 will receive extended aid. Governor Culver notes it aids stability as the job market slowly recovers. Unemployment rate for August was 6.8 percent.
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