Davenport-based Lee Enterprises Inc. announced that it lost $51.8 million, or $1.16 per share, in the 13 weeks ended March 29, compared with $713 million, or $15.90 per share, a year ago. Excluding one-time costs, the newspaper chain lost 7 cents per share in the quarter. Combined print and online advertising revenues were down 24 percent to $141.5 million. Chairman and CEO Mary Junck said the company achieved favorable financing arrangements during the period to help manage the recession. “For now, the recession has cut deeply across all key categories of advertising revenue,” she said in a release. “One glimmer is that year-over-year revenue declines have flattened over the last three months. Still, we expect a tough road in the months ahead and have taken further steps to streamline our cost structure.” Lee expects to reduce its 2009 cash costs by 15 to 16 percent, or more than $120 million, from last year.

General Growth Properties Inc. reported a first-quarter loss of funds from operation (FFO) of $165.9 million, or 52 cents per share, compared with an FFO gain of $215.9 million, or 73 cents per share, a year ago, Reuters reported. The results include a $331 million charge for provisions for impairments and other costs related to the company’s Chapter 11 bankruptcy filing. Losses also were attributed to declining occupancy, rent and sales at its shopping centers, which include Jordan Creek Town Center in West Des Moines. In related news, the company asked a judge to approve a $400 million loan from new investors so it can continue operations while restructuring, replacing William Ackman’s Pershing Square Capital Management LP’s previous offer for a $375 million loan. The largest investor in the new loan is San Francisco-based private-equity firm Farallon Capital Management LLC, which has pledged $210 million.

Business productivity increased 1.1 percent in the first quarter due to a drop in the average number of hours worked, according to a report today from the U.S. Bureau of Labor Statistics. Manufacturing productivity dropped 3.4 percent overall, including a 10 percent drop in the manufacture of durable goods and a 1 percent decline in the production of nondurable goods, according to the report. Actual productivity in the business sector dropped 7.8 percent but was offset by an 8.8 percent reduction in hours worked, the largest decline since the first quarter of 1975, when hours worked dropped 12.1 percent. Hourly compensation in the business sector increased 4.1 percent.

Retailers are starting to report better-than-expected results in April, but business remains weak, MSNBC reported. Wal-Mart Stores Inc. reported a 5 percent rise in same-store sales for the month ended May 1 and a 2.4 percent increase in net sales to $29.85 billion. Meanwhile, Stage Stores Inc. and Wet Seal Inc. posted smaller declines than analysts predicted. Costco Wholesale Corp.’s same-store sales declined 8 percent, more than the 6.8 percent analysts expected, while Buckle Inc. had an 18.2 percent gain and The Children’s Place Retail Stores Inc. had a 5 percent rise.

A.M. Best Co. has reaffirmed its “A-” (Excellent) rating and positive outlook on GuideOne Insurance, which it has held since the early 1990s. In a release, GuideOne said its strong capitalization, favorable operating results and established presence in niche markets supported its rating. The West Des Moines-based company is one of the largest church insurers, with about 43,000 policyholders.

The Iowa Motion Picture Association will host its annual Iowa Motion Picture Awards this Saturday at the Renaissance Savery Hotel. The awards will recognize creative and technical achievements in Iowa’s film industry. Activities include a workshop, an Iowa film production update and a keynote address by Brian Frankish, associate producer and production manager of Jekyll Productions new film “The Crazies.” For more information or to attend, go to www.impa.tv.

E.I. du Pont de Nemours & Co. said it will cut approximately 2,000 positions as part of a restructuring plan announced April 21. It also will increase its 2009 fixed-cost reduction to $1 billion from $730 million. The changes are expected to preserve the company’s strong cash position and better position it for global economic recovery following marketplace shifts and demand declines, especially in motor vehicle, construction and industrial markets. The company will record a pre-tax charge of $340 million to $390 million in the second quarter related to this restructuring plan. Johnston-based Pioneer Hi-Bred International Inc., a DuPont subsidiary, will not be impacted by the layoffs, said spokesman Pat Arthur. DuPont said in its release that it will maintain an appropriate level of investment for high-growth, high-margin businesses, which includes its Pioneer seed products.

FBL Financial Group Inc. will announce its first-quarter earnings after U.S. markets close today. For more information, go to www.fblfinancial.com.