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Isle of Capri Casinos, Inc. reports improved first quarter earnings; Bettendorf riverboat revenues flat

on Wed, 08/29/2012 - 21:58   by Editor

The Isle of Capri Casinos, Inc. – owner of Bettendorf's riverboat casino – reported first quarter earnings of 17 cents per share, up from a loss of 6 cents per share for the same period a year ago.

Net revenues for the three-month period ended July 29 were $236 million, up nearly 4 percent from $228 million in revenue during the first quarter of 2011. Net income for the first quarter was $6.7 million, compared with a loss of $2.3 million a year ago.

Coal contracts, corporate affiliations generate questions in MidAmerican Energy's rate case

on Mon, 08/27/2012 - 21:52   by Editor

Berkshire Hathaway's ownership of both MidAmerican Energy and BNSF Railway have complicated the examination of the utility's electric rate adjustment request before the Iowa Utilities Board.

One of the primary reasons for the two-year $115-million rate adjustment requested by MidAmerican is to offset anticipated increases in coal fuel and coal transportation expenses for its Iowa electric generating plants.

Bettendorf/Davenport eye 20-year, $160-million sewer system improvement plan under deal with Iowa DNR

on Thu, 08/23/2012 - 21:11   by Editor

Bettendorf and Davenport would agree to make an estimated $160 million in sewer system upgrades over the next 20 years under a proposed consent order with the Iowa Department of Natural Resources (IDNR).

The agreement, currently under review by both cities, would address so-called sewage "bypass" flows at the Davenport treatment plant, which is one-quarter owned by Bettendorf.

During periods of heavy rain, water infiltrates sewer lines, creating flows which the plant can't handle and resulting in the dumping of partially treated sewage into the Mississippi River.

City debt continues to mount; now exceeds 80 percent of allowed limit

on Fri, 08/17/2012 - 21:00   by Editor

The city of Bettendorf's debt now exceeds 80 percent of the state-allowed limit, far more than city officials projected less than a year ago.

During last year's mayoral election, the city debt was the most discussed issue. Alderman Greg Adamson even called for a special budget presentation by City Administrator Decker Ploehn and City Finance Director Carol Barnes to refute campaign flyers raising questions about the ballooning municipal debt.

Muscatine air quality issues continue; 26 exceedances in first half of 2012

on Thu, 08/09/2012 - 03:47   by Editor

National air quality standards have been exceeded 26 times so far this year in Muscatine, including three days when sulfur dioxide (SO2) pollution reached levels considered unhealthy for all residents and dangerous for sensitive populations (the very young, the elderly and those with asthma).

Isle of Capri/city management agreement modifications allow lower contributions to events center capital improvement fund

on Fri, 08/03/2012 - 00:50   by Editor

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 stock drops 8 percent after reporting 3rd quarter loss

on Thu, 07/19/2012 - 02:25   by Editor

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.

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