Terms of the management agreement between the Isle of Capri casino and the city of Bettendorf have been modified by city officials without city council approval, including a clause which has allowed the casino to forego paying hundreds of thousands of dollars into a joint city/casino capital improvement fund.

Lee Enterprises, owner of the Quad City Times and qctimes.com, reported a 3-cent per share loss for its third quarter on Tuesday, and its stock fell 8 percent Wednesday (7/18) to 1.30 per share.

For the quarter ended June 24, Lee reported it lost $1.47 million, reflecting a nearly 6 percent decline in advertising revenue, higher interest expense on its debt and nearly $8 million in debt financing and reorganization costs paid during the quarter.

Bettendorf's riverboat casino admissions fell to 1.1 million visitors in fiscal 2012, half the number of people the gambling boat drew 12 years ago.

Likewise, gross revenues at the Isle casino fell nearly 4 percent in fiscal 2012, off nearly $30 million from its peak revenue in 2004.

Write-downs on the value of two casinos sold during the past year sent Isle of Capri Casinos, Inc. earnings to a loss of $3.35 per share for fiscal 2012. That compares to a 13 cents per share profit in fiscal 2011.

The Isle owns both the Isle of Capri riverboat casino in Bettendorf and the Rhythm City Casino in Davenport.

For fiscal 2012 ended April 29, the Isle reported a $17.4 million loss from continuing operation, compared to a $3.7 million profit for the year earlier.

Plantation Development and LEDs America are once again asking the Bettendorf City Council for Tax Increment Financing (TIF) dollars to help build a facility to assemble LED lights.

The developers have been promising to bring manufacturing jobs from China to Bettendorf to make the energy efficient lights in the currently undeveloped I-74 Technology Park, owned by Plantation Development.

The Des Moines Register (owned by Gannett, Inc.) has announced plans to begin charging for access to its online news site later this month.

The newspaper did not disclose how much it will charge for access, but print subscribers will receive full access to its online site, and non-subscribers will get a limited number of free articles each month before having to subscribe.

Lee Enterprises, owner of the Quad City Times and 48 other daily newspapers, reported a $26.5 million loss for its second quarter ended March 25.

The 54 cents per share loss reflects the company's $38.7 million expense from its recently completed bankruptcy reorganization and debt refinancing.

The loss would have been substantially higher if not for a $14.5 million income tax benefit recorded during the quarter. For the same quarter a year ago Lee reported a loss of 3 cents per share ($1.47 million).

Muscatine's Grain Processing Corporation -- already facing a civil lawsuit by the Iowa Attorney General on air and water pollution -- has been hit with a notice of violation by the U.S. Environmental Protection Agency (EPA).

The notice sent to GPC Tuesday (March 27) alleges the corn processing facility with violating state air pollution laws over a four-year period, 2007 to 2011.

The top executive of MidAmerican Energy Holdings Co. (MEHC) was paid $9.9 million in 2011, while ex-chairman David Sokol will be receiving $1 million a year in retirement pay.

The information was disclosed in MEHC's 2011 annual report filed with the U.S. Security and Exchange Commission (SEC) Feb. 27. MEHC is a subsidiary of Berkshire Hathaway, the Omaha-based conglomerate controlled by Warren Buffett.

A comprehensive study by the Pew Research Center found daily newspapers are losing $7 in print ad revenue for each $1 they gain in digital advertising income.

The study involving 38 newspapers from across the U.S. found that dailies of less than 25,000 circulation were losing print ad revenue at a slower rate, about one-third the rate than those papers with 50,000 subscribers or more.