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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Sep 30, 2009
Page
10
The Conference Board's index dropped to 53.1 in September from 54.5 in August amid labor market worries. The Dow Jones Industrials fell 47.16 points to 9,742.20, the S&P 500 slid 2.37 to 1,060.61, and the Nasdaq declined 6.70 to 2,124.04 as markets paused after earlier rally.
Census figures show the wealthiest 10 percent earning 11.4 times the near poverty line in 2008, up from 11.2. Median income fell from 52,163 to 50,303, erasing a decade of gains and poverty rising to 13.2 percent, an 11-year high.
Alliant Energy Interstate Power and Light crews plus contract teams will work across Benton and Linn counties starting this week to trim trees near overhead power lines. The project spans two to 12 weeks with unlikely service interruptions. Customers may call 1 800 ALLIANT or visit alliantenergy com for questions about line clearance.
Oil prices paused after a rise last week as a report showed consumer anxiety over job losses persists. Benchmark crude for November delivery settled at $66.71 on the NYMEX, down 13 cents amid rising U.S. crude supplies.
Independence approves an 800000 dollar package from a state aid program for Provemex International Holdings to reopen Tyson Foods plant on the northwest side. The deal includes a 96000 dollar tax increment financing plan over 10 years and use of a company well to save about 698000 dollars over the period. Tyson subsidiary Provemex studies pet food production with no cooking steps and scrubbers planned. 150 jobs could arise if the plant runs at full capacity. Local officials expect a first year start with detailed analysis due in weeks.
Tax credits for Midwest disaster relief enhance postsecondary education benefits for Iowa students and parents. IRS officials note shifts to the American Opportunity Credit and the Lifetime Learning Credit, with income limits and eligibility based on institution location and new disaster provisions.
Frost last night threatened late maturing corn and soybeans but experts expect only modest losses. About 47 percent of Iowa corn is mature enough to be safe, with harvest lagging behind average. Winds and lodging pose a bigger risk for yields and grain quality.
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