November 9, 2018 at 8:33 p.m.
Mary Meeker raising big bucks for fund
Business Roundup
Jay County’s Mary Meeker is in the process of raising about $1.25 billion for a new venture capital growth fund, Business Insider reported Friday.
Citing multiple sources, the website said Meeker, a Jay County High School graduate with a degree from DePauw University, has yet to begin “formal fundraising efforts” for her new fund.
She recently split off from the venture capital firm of Kleiner Perkins Caufield & Byers tostrart her own fund.
“Meeker garnered the nickname ‘Queen of the Internet’ for her prescient analysis of internet stocks in the early 2000s, and oversawlate stage investments for more than 10 years at Kleiner Perkins,” Business Insider reported. “Kleiner Perkins partners Noah Knauf, Juliet de Baubigny, and Mood Rowghani also followed Meeker to her new growth fund, which hasn't been named yet.”
The website noted that if Meeker is successful in raising the $1.25 billion, the fund would be the largest ever to be led by a woman.
Major expansion
Crown Equipment Corporation is going forward with an expansion that will create 563 jobs at its New Bremen, Ohio, facility.
The industrial risk-truck manufacturer plans to invest $40 million to construct a 500,000-square-foot building just north of its current production plan.
The Ohio Tax Credit Authority has granted Crown a 10-year, 2.013 percent tax credit on the project, state officials told The Daily Standard.
The New Bremen Village Council had already approved a Community Reinvestment Act agreement with Crown that provides a 100 percent, 10-year tax abatement with the company donating $260,405 each year to the local school district.
The expansion is expected to add $28.5 million to Crown’s annual payroll by the end of 2022. Crown’s payroll is already $263 million, making it one of the largest regional manufacturers.
Silo explodes
A silo at Cardinal Ethanol exploded Tuesday morning, but no injuries were reported.
Cardinal’s plant is located west of Union City in rural Randolph County.
The Greenville Daily Advocate cited local authorities who said that silo has been the scene of at least two fires in recent weeks.
The incident is under investigation by the Union City, Ohio, Fire Department.
Nomination time
The deadline is Dec. 3 to nominate businesses, individuals and non-profits for the Jay County Chamber of Commerce 2018 Community Awards.
Nominations are sought for Business of the Year, Citizen of the Year, Innovator of the Year, Industry of the Year, Non-Profit of the Year, Lifetime Achievement, Young Professional of the Year as well as the Dunkirk Community Commitment Award and the Small Community Commitment Award.
Winners will be determined by voting by the membership of the chamber and announced during the Jay County Community Awards ceremony in March 2019.
Nomination forms are available at jaycountychamber.com.
Nearly there
The acquisition of Aetna insurance by CVS Health has been approved in 23 of 28 states, putting the deal on track to close by Thanksgiving, Forbes reported this week.
CVS chief executive Larry Merlo told Forbes the remaining state approvals should occur "prior to" Thanksgiving, allowing the company to complete its merger with the nation’sthird largest health insurer.
The U.S. Justice Department has already given preliminary approval to the CVS-Aetna deal.
Look overseas
Tyson Foods Inc.,parent of Portland’s Tyson Mexican Original, is looking overseas for new acquisitions, several business press outlets reported this week.
The company’s new chief executive officer Noel White told The Wall StreetJournal it is looking to expand further overseas in a bid to diversify its operations.
"It is, in fact, spreading the risk if you do have operations in countries outside the United States," White told The Journal.
In August, Tyson acquired U.S.-based Keystone Foods, buying the business from Brazil's Marfrig Global Foods.
Tyson said at the time that the deal would provide a "platform for growth," particularly in the Asia-Pacific region. About a third of Keystone's annual revenues come from the Asia-Pacific region.
New CFO
CenturyLink, Inc. announced this week that Neel Dev has been named executive vice president and chief financial officer.
Dev, who has served as interim CFO since Sunit Patel's departure from the company in September, will have global responsibility for CenturyLink's financial planning, accounting, tax, treasury, procurement and supply chain managementand real estate portfolio, the company said in a press release.
Next class
The next ServSafe class for food service employees will be from 9 a.m. to 5 p.m. Nov. 27 at John Jay Center for Learning.
The program emphasizes safe food and beverage handling practices to minimize the risk offood borne illnesses.
Certifications are valid for five years upon successful completion of the course.
For more information contact John Jay Center for Learning at (260) 729-5525.
Citing multiple sources, the website said Meeker, a Jay County High School graduate with a degree from DePauw University, has yet to begin “formal fundraising efforts” for her new fund.
She recently split off from the venture capital firm of Kleiner Perkins Caufield & Byers to
“Meeker garnered the nickname ‘Queen of the Internet’ for her prescient analysis of internet stocks in the early 2000s, and oversaw
The website noted that if Meeker is successful in raising the $1.25 billion, the fund would be the largest ever to be led by a woman.
Major expansion
Crown Equipment Corporation is going forward with an expansion that will create 563 jobs at its New Bremen, Ohio, facility.
The industrial risk-truck manufacturer plans to invest $40 million to construct a 500,000-square-foot building just north of its current production plan.
The Ohio Tax Credit Authority has granted Crown a 10-year, 2.013 percent tax credit on the project, state officials told The Daily Standard.
The New Bremen Village Council had already approved a Community Reinvestment Act agreement with Crown that provides a 100 percent, 10-year tax abatement with the company donating $260,405 each year to the local school district.
The expansion is expected to add $28.5 million to Crown’s annual payroll by the end of 2022. Crown’s payroll is already $263 million, making it one of the largest regional manufacturers.
Silo explodes
A silo at Cardinal Ethanol exploded Tuesday morning, but no injuries were reported.
Cardinal’s plant is located west of Union City in rural Randolph County.
The Greenville Daily Advocate cited local authorities who said that silo has been the scene of at least two fires in recent weeks.
The incident is under investigation by the Union City, Ohio, Fire Department.
Nomination time
The deadline is Dec. 3 to nominate businesses, individuals and non-profits for the Jay County Chamber of Commerce 2018 Community Awards.
Nominations are sought for Business of the Year, Citizen of the Year, Innovator of the Year, Industry of the Year, Non-Profit of the Year, Lifetime Achievement, Young Professional of the Year as well as the Dunkirk Community Commitment Award and the Small Community Commitment Award.
Winners will be determined by voting by the membership of the chamber and announced during the Jay County Community Awards ceremony in March 2019.
Nomination forms are available at jaycountychamber.com.
Nearly there
The acquisition of Aetna insurance by CVS Health has been approved in 23 of 28 states, putting the deal on track to close by Thanksgiving, Forbes reported this week.
CVS chief executive Larry Merlo told Forbes the remaining state approvals should occur "prior to" Thanksgiving, allowing the company to complete its merger with the nation’s
The U.S. Justice Department has already given preliminary approval to the CVS-Aetna deal.
Look overseas
Tyson Foods Inc.,
The company’s new chief executive officer Noel White told The Wall Street
"It is, in fact, spreading the risk if you do have operations in countries outside the United States," White told The Journal.
In August, Tyson acquired U.S.-based Keystone Foods, buying the business from Brazil's Marfrig Global Foods.
Tyson said at the time that the deal would provide a "platform for growth," particularly in the Asia-Pacific region. About a third of Keystone's annual revenues come from the Asia-Pacific region.
New CFO
CenturyLink, Inc. announced this week that Neel Dev has been named executive vice president and chief financial officer.
Dev, who has served as interim CFO since Sunit Patel's departure from the company in September, will have global responsibility for CenturyLink's financial planning, accounting, tax, treasury, procurement and supply chain management
Next class
The next ServSafe class for food service employees will be from 9 a.m. to 5 p.m. Nov. 27 at John Jay Center for Learning.
The program emphasizes safe food and beverage handling practices to minimize the risk of
Certifications are valid for five years upon successful completion of the course.
For more information contact John Jay Center for Learning at (260) 729-5525.
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