October 5, 2019 at 5:12 a.m.
Celina files suit against big bank
Business roundup
A threatened lawsuit against a regional bank is going forward.
The Daily Standard reported this week that the city of Celina, Ohio, has filed a lawsuit against First Financial Bank over its management of the Bryson Trust Fund, a charitable trust that has benefited the city for decades.
The lawsuit contends that the fund has been mismanaged and requests that it be merged into the Dayton Foundation.
“First Financial has closed all but one Mercer County branch and moved administration of the trust to its Cincinnati headquarters.
“As a result, the city has had no local representative acting as a trust officer other than a local attorney with whom it can communicate,” The Standard reported.
The suit alleges that the bank has failed to respond for three years to the city’s requests for trust tax returns and has declined to meet with city officials over Celina’s concerns.
It argues that the fund should be merged into Dayton’s community foundation with a court-appointed local committee providing guidance on how annual earnings would be disbursed.
The lawsuit also calls for the sale of some 315 acres of farmland owned by the Bryson Trust.
New position
Steve Garbacz, who began his career in journalism with The Commercial Review, has been named the new executive editor of KPC Media’s north newspapers.
Currently editor of The News Sun in Kendallville, he succeeds Dave Kurtz, who is editor of The Star in Auburn.
Garbacz will be responsible for directing the news strategy of three daily newspapers in Kendallville, Auburn and Angola as well as weekly publications in Albion, Ligonier, Garrett and Butler.
Garbacz joined KPC Media in May of 2015 as a reporter. A 2008 graduate of Purdue University, he has received more than 20 statewide journalism awards.
He and his wife Ashley and their infant son reside in Fort Wayne.
Another honor
Geneva banker Andrew Briggs has been named a Sagamore of the Wabash by Gov. Eric Holcomb.
Longtime president of the Bank of Geneva, Briggs is currently first senior vice president for business development with Farmers and Merchants State Bank.
A past board member and president of Arts Place, he has also served as president of the Indiana Bankers Association.
Birthday party
Fuqua Chrysler-Dodge-Jeep of Dunkirk will be celebrating 50 years in business from 3 to 7 p.m. on Friday, Oct. 18, at its 127 E. Commerce St. location. A Jay County Chamber of Commerce recognition ceremony is set for 4:30 p.m.
New dietitian
Robin L. Fortkamp, Fort Recovery, has been hired as the new registered dietitian for Swiss Village in Berne. A licensed registered dietitian, she is a graduate of Bowling Green State University. She has a bachelor of science in dietetics and human nutrition. Most recently, she was employed by Peregrine Health Services Inc. in Ohio.
She starts work at Swiss Village on Oct. 21.
Touts ethanol
Doug Berven, vice president for corporate affairs for POET, urged growing use of ethanol during an appearance this week at the National Association of Convenience Stores Show in Atlanta.
Berven told those attending that ethanol is good for the United States because it’s good for national security, good for the economy and good for the environment.
Watch grows
Watch Communications, parent of Community Fiber Solutions, has announced the acquisition of Beyond Media Networks, an Illinois wireless internet provider.
The acquisition expands the company’s operations to a third state.
Bond moves
Mary Meeker’s Bond Capital has made another investment in a high-tech firm.
This time around, it’s Relativity Space, a California-based company that plans to build entire rockets using 3D printing.
CNBC reported that Relativity has now raised $140 million and plans to build entire rockets in 60 days using 3D printing.
This is Bond’s first venture into the space industry.
A native of Portland, Meeker is a graduate of Jay County High School and received her bachelor’s degree from DePauw University.
“We were looking for the very top of the top in investors in the world,” Relativity CEO Tim Ellis told CNBC, adding that Meeker has “built dozens of very iconic household names.”
The company’s first orbital test launch is set for early 2021.
While Relativity is building its own rockets, part of the company’s vision involves getting its 3D printers off the Earth, CNBC said.
Relativity wants to eventually load its printers onto much larger rockets that are bound for Mars. Once there, the printers would be able to build Relativity’s rockets.
The Daily Standard reported this week that the city of Celina, Ohio, has filed a lawsuit against First Financial Bank over its management of the Bryson Trust Fund, a charitable trust that has benefited the city for decades.
The lawsuit contends that the fund has been mismanaged and requests that it be merged into the Dayton Foundation.
“First Financial has closed all but one Mercer County branch and moved administration of the trust to its Cincinnati headquarters.
“As a result, the city has had no local representative acting as a trust officer other than a local attorney with whom it can communicate,” The Standard reported.
The suit alleges that the bank has failed to respond for three years to the city’s requests for trust tax returns and has declined to meet with city officials over Celina’s concerns.
It argues that the fund should be merged into Dayton’s community foundation with a court-appointed local committee providing guidance on how annual earnings would be disbursed.
The lawsuit also calls for the sale of some 315 acres of farmland owned by the Bryson Trust.
New position
Steve Garbacz, who began his career in journalism with The Commercial Review, has been named the new executive editor of KPC Media’s north newspapers.
Currently editor of The News Sun in Kendallville, he succeeds Dave Kurtz, who is editor of The Star in Auburn.
Garbacz will be responsible for directing the news strategy of three daily newspapers in Kendallville, Auburn and Angola as well as weekly publications in Albion, Ligonier, Garrett and Butler.
Garbacz joined KPC Media in May of 2015 as a reporter. A 2008 graduate of Purdue University, he has received more than 20 statewide journalism awards.
He and his wife Ashley and their infant son reside in Fort Wayne.
Another honor
Geneva banker Andrew Briggs has been named a Sagamore of the Wabash by Gov. Eric Holcomb.
Longtime president of the Bank of Geneva, Briggs is currently first senior vice president for business development with Farmers and Merchants State Bank.
A past board member and president of Arts Place, he has also served as president of the Indiana Bankers Association.
Birthday party
Fuqua Chrysler-Dodge-Jeep of Dunkirk will be celebrating 50 years in business from 3 to 7 p.m. on Friday, Oct. 18, at its 127 E. Commerce St. location. A Jay County Chamber of Commerce recognition ceremony is set for 4:30 p.m.
New dietitian
Robin L. Fortkamp, Fort Recovery, has been hired as the new registered dietitian for Swiss Village in Berne. A licensed registered dietitian, she is a graduate of Bowling Green State University. She has a bachelor of science in dietetics and human nutrition. Most recently, she was employed by Peregrine Health Services Inc. in Ohio.
She starts work at Swiss Village on Oct. 21.
Touts ethanol
Doug Berven, vice president for corporate affairs for POET, urged growing use of ethanol during an appearance this week at the National Association of Convenience Stores Show in Atlanta.
Berven told those attending that ethanol is good for the United States because it’s good for national security, good for the economy and good for the environment.
Watch grows
Watch Communications, parent of Community Fiber Solutions, has announced the acquisition of Beyond Media Networks, an Illinois wireless internet provider.
The acquisition expands the company’s operations to a third state.
Bond moves
Mary Meeker’s Bond Capital has made another investment in a high-tech firm.
This time around, it’s Relativity Space, a California-based company that plans to build entire rockets using 3D printing.
CNBC reported that Relativity has now raised $140 million and plans to build entire rockets in 60 days using 3D printing.
This is Bond’s first venture into the space industry.
A native of Portland, Meeker is a graduate of Jay County High School and received her bachelor’s degree from DePauw University.
“We were looking for the very top of the top in investors in the world,” Relativity CEO Tim Ellis told CNBC, adding that Meeker has “built dozens of very iconic household names.”
The company’s first orbital test launch is set for early 2021.
While Relativity is building its own rockets, part of the company’s vision involves getting its 3D printers off the Earth, CNBC said.
Relativity wants to eventually load its printers onto much larger rockets that are bound for Mars. Once there, the printers would be able to build Relativity’s rockets.
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