July 23, 2014 at 2:10 p.m.
Omnicity continues to be optimistic
Omnicity Corp., a rural broadband provider, announced in a press release that business "continues to flourish" despite the economy.
The Rushville, Ind., based company serves more than 6,000 customers, including some in Jay County, through partnerships with Rural Electric Membership Cooperatives.
The company went public and began selling stock in February, with share price hovering around 70 cents Friday, while the company's peak price was 95 cents earlier in the year.
Omnicity was involved in financial squabbles with Jay County, after owing $494,000 in Economic Development Income Tax funds which had been loaned to the firm. The company reached an agreement with the county in February 2008, paying $150,000 up front and monthly dues of $2.50 per subscriber up to 300 subscribers and $5 per subscriber up to 1,000 subscribers until the debt is paid off.
Jay County Development Corporation leaders were unavailable Friday morning to comment of the status of Omnicity's repayment program.
Chicken donation
Tyson Food Inc. agreed to donate 1.7 million pounds of chicken to Illinois food banks as part of a settlement.
Tyson reached the deal, which was approved by a Madison County, Ill., judge Wednesday, in a lawsuit alleging the company inflated the retail weight of its poultry.
A $2 million fund will be created to settle claims in that class-action suit, but the remaining money will be used for food donations to Illinois food banks, expected to come in at about 1.7 million pounds.
Tyson also will pay $750,000 total to six different law firms representing plaintiffs in the case.
CR intern
Amanda Junk, who will be a senior this fall at Ball State University, will serve as an intern this summer for The Commercial Review through the Eugene S. Pulliam Internship program.
The program is coordinated by the Hoosier State Press Association Foundation.
Junk is studying magazine journalism and sociology at Ball State. She will be working as a general assignment reporter through mid-August.
She worked as a features intern at The News-Sentinel in Fort Wayne during the summer of 2008.
A native of Fort Wayne and 2006 graduate of Homestead High School, she has served as the chief copy editor and features reporter for the Ball State Daily News in addition to holding freelance reporting positions at the Anderson Herald Bulletin and at the GEO Foundation's Charter Schools Today publication in Indianapolis.
Fleetwood offer
Bankruptcy hearings in California were delayed for RV producer Fleetwood Enterprises Inc., while a New York-based company offered $53 million to purchase five plants in Decatur.
The court will rule on a petition that could allow Fleetwood to auction plants to American Industrial Partners LP. AIP is interested in brands and intellectual property for Fleetwood's RV line only, which would change ownership of five plants in Decatur.
ATI business
Allegheny Technologies Incorporated made recent moves to call in and offer new financial notes during the week.
ATI, which owns the Portland Forge, announced it will offer cash tender for any outstanding 8.375 percent notes due 2011, of which there are $300 million outstanding. The offer will expire on June 3 at 5 p.m.
ATI also announced it will be offering $300 million in senior notes due 2019 and $350 million in convertible notes due 2014. The money raised from the selling of those notes will be used to pay out the 8.375 percent notes.
Stoneridge loss
Stoneridge Inc., parent company of Portland's Alphabet plant, posted a $11.6 million loss in the first quarter after sales dropped nearly 50 percent due to reduced demand in the auto industry.
Sales dipped from $203.1 million in 2008 to $121.1 million this year as reduced production in automotive sectors choked the company.
The electronic components company applied and was accepted to the Chrysler and General Motors U.S. Government supplier accounts receivable guarantee program to assure its safety as Chrysler announced it will undergo bankruptcy.
Awarded
An East Elementary School third grader was recognized by Jay County REMC for supplying an artwork entry to the 2010 REMC calendar contest.
Shaylnn Overholser, daughter of Jeff and Lorie Overholser, received a Certificate of Merit as her submission was within the top 400 entries of more than 2,800 total. Her artwork will be featured as the centerpiece of the Jay County REMC calendar.
Produced by Electric Consumer, a statewide electric cooperative newspaper, the 13th annual contest was open to all K-12 students in the state.
The calendar will be available in October, with a limited number of calendars available at Jay County REMC.[[In-content Ad]]
The Rushville, Ind., based company serves more than 6,000 customers, including some in Jay County, through partnerships with Rural Electric Membership Cooperatives.
The company went public and began selling stock in February, with share price hovering around 70 cents Friday, while the company's peak price was 95 cents earlier in the year.
Omnicity was involved in financial squabbles with Jay County, after owing $494,000 in Economic Development Income Tax funds which had been loaned to the firm. The company reached an agreement with the county in February 2008, paying $150,000 up front and monthly dues of $2.50 per subscriber up to 300 subscribers and $5 per subscriber up to 1,000 subscribers until the debt is paid off.
Jay County Development Corporation leaders were unavailable Friday morning to comment of the status of Omnicity's repayment program.
Chicken donation
Tyson Food Inc. agreed to donate 1.7 million pounds of chicken to Illinois food banks as part of a settlement.
Tyson reached the deal, which was approved by a Madison County, Ill., judge Wednesday, in a lawsuit alleging the company inflated the retail weight of its poultry.
A $2 million fund will be created to settle claims in that class-action suit, but the remaining money will be used for food donations to Illinois food banks, expected to come in at about 1.7 million pounds.
Tyson also will pay $750,000 total to six different law firms representing plaintiffs in the case.
CR intern
Amanda Junk, who will be a senior this fall at Ball State University, will serve as an intern this summer for The Commercial Review through the Eugene S. Pulliam Internship program.
The program is coordinated by the Hoosier State Press Association Foundation.
Junk is studying magazine journalism and sociology at Ball State. She will be working as a general assignment reporter through mid-August.
She worked as a features intern at The News-Sentinel in Fort Wayne during the summer of 2008.
A native of Fort Wayne and 2006 graduate of Homestead High School, she has served as the chief copy editor and features reporter for the Ball State Daily News in addition to holding freelance reporting positions at the Anderson Herald Bulletin and at the GEO Foundation's Charter Schools Today publication in Indianapolis.
Fleetwood offer
Bankruptcy hearings in California were delayed for RV producer Fleetwood Enterprises Inc., while a New York-based company offered $53 million to purchase five plants in Decatur.
The court will rule on a petition that could allow Fleetwood to auction plants to American Industrial Partners LP. AIP is interested in brands and intellectual property for Fleetwood's RV line only, which would change ownership of five plants in Decatur.
ATI business
Allegheny Technologies Incorporated made recent moves to call in and offer new financial notes during the week.
ATI, which owns the Portland Forge, announced it will offer cash tender for any outstanding 8.375 percent notes due 2011, of which there are $300 million outstanding. The offer will expire on June 3 at 5 p.m.
ATI also announced it will be offering $300 million in senior notes due 2019 and $350 million in convertible notes due 2014. The money raised from the selling of those notes will be used to pay out the 8.375 percent notes.
Stoneridge loss
Stoneridge Inc., parent company of Portland's Alphabet plant, posted a $11.6 million loss in the first quarter after sales dropped nearly 50 percent due to reduced demand in the auto industry.
Sales dipped from $203.1 million in 2008 to $121.1 million this year as reduced production in automotive sectors choked the company.
The electronic components company applied and was accepted to the Chrysler and General Motors U.S. Government supplier accounts receivable guarantee program to assure its safety as Chrysler announced it will undergo bankruptcy.
Awarded
An East Elementary School third grader was recognized by Jay County REMC for supplying an artwork entry to the 2010 REMC calendar contest.
Shaylnn Overholser, daughter of Jeff and Lorie Overholser, received a Certificate of Merit as her submission was within the top 400 entries of more than 2,800 total. Her artwork will be featured as the centerpiece of the Jay County REMC calendar.
Produced by Electric Consumer, a statewide electric cooperative newspaper, the 13th annual contest was open to all K-12 students in the state.
The calendar will be available in October, with a limited number of calendars available at Jay County REMC.[[In-content Ad]]
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