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Lee Enterprises loses $147 million in fiscal 2011; 20 cents per share in 4th

on Tue, 11/08/2011 - 22:59   by Editor

Lee Enterprises – owner of the Quad City Times and Muscatine Journal – posted a $147-million loss in fiscal 2011, compared to a $46-million profit the year earlier.

The newspaper chain headquartered in Davenport reported a 20 cents per share loss in its fourth quarter ended Sept. 25, and a fiscal 2011 loss of $3.27 per share.

Rural broadband jobs initiatives in Iowa, nation stuck in neutral

on Sat, 11/05/2011 - 00:56   by Editor

More than a year after Windstream (formerly Iowa Telecom) was awarded more than $17 million to build high-speed Internet connections to serve rural Iowans and create jobs in rural communities, none of the funds have been spent and not a single job created.

U.S. Department of Agriculture Secretary and former Iowa Gov. Tom Vilsack announced the job stimulus grants in August 2010, and Windstream was targeted to receive more than $120 million, including $12 million for work in rural Iowa.

LeClaire citizens file petitions seeking vote on bond issues

on Wed, 10/19/2011 - 22:28   by Editor

LeClaire voters may get a voice on whether the city should issue bonds to pay for the construction of a new downtown parking lot and purchase of technology equipment.

More than 225 eligible voters signed petitions seeking the referendum, Tom Kamp, spokesman for the group, said. The petitions were submitted Friday, Oct. 14 and would require the city to hold a referendum on the issuance of $408,000 of bonds.

Sivyer Steel fined $54,786 for hazardous waste violations

on Wed, 09/28/2011 - 20:04   by Editor

Sivyer Steel in Bettendorf has agreed to fines of $54,786 after a March 2010 inspection by the U.S. Environmental Protection Agency (EPA) found violations of federal hazardous waste regulations.

According to the consent agreement with the EPA, Sivyer was operating as a "conditionally exempt small quantity generator," creating less than 220 pounds of waste per month at its plant.

Subsequent to the inspection, Sivyer shipped nearly 8,000 pounds of hazardous waste from its facility at 225 S. 33rd St. for remediation.

According to the consent order, Sivyer:

Lee unveils refinancing plan which gives lenders 13% of company stock

on Tue, 09/20/2011 - 22:14   by Editor

As part of a plan to refinance its nearly $1 billion in debt, Lee Enterprises will give lenders 13 percent (6.744 million shares) of its common stock.

The deal announced Sept. 8 would give Lee more time to repay its long-term debt, largely the result of acquiring the St. Louis Post-Dispatch in 2005.

Lenders who will get the ownership share and a boost in interest on the refinanced debt include Goldman Sachs Lending Partners LLC, Franklin Templeton/Mutual Quest Fund and Monarch Master Funding Ltd.

Firm seeks special use permit for concrete recycling plant on State St.

on Wed, 09/07/2011 - 19:45   by Editor

The owners of Hawkeye Paving Corp. are seeking a special use permit to allow construction of a concrete recycling plant at 6001 State Street, Bettendorf.

A special use permit for the facility will be considered by the city Board of Adjustment at its meeting Thursday (9/8). The vacant site, currently owned by James Mahler of Bettendorf, is zoned general industrial (I-2).

Lee Enterprises rolls out online paywalls in Montana, Wyoming

on Wed, 08/31/2011 - 21:41   by Editor

Lee Enterprises -- owner of the Quad City Times -- rolled out paywalls for its Montana and Wyoming online newspaper sites August 1.

Even print newspaper subscribers will face charges for online access after a limit of between 15 to 20 page views a month. The charge for print subscribers ($1.95 to $2.95 per month) would be less than online only subscribers ($5 to $6.95 per month).

The online news sites' homepage, obituaries, ad content, calendars, photo galleries, classifieds and videos would not count toward the page view limits.

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