For the first time, online revenue during the third quarter exceeded print income at Lee Enterprises, Inc. – owner of the Quad City Times and Daily Dispatch/Argus newspapers and online news sites.

Despite the continued growth of online revenue, the company lost 5 cents per share ($269,000) for the three-month period ended June 26. A year earlier, Lee reported third quarter earnings of 56 cents per share, or $3.23 million.

Despite gains from its digital operations, Lee Enterprises, Inc. – owner of 77 media properties including the Quad City Times and the Argus/Dispatch – saw overall revenues and earnings fall during the second quarter compared with a year ago.

Lee reported Thursday (5/5) it lost $6.7 million ($1.26 per share) during the second quarter ended March 27. That compares with a loss of $608,000 ($.20 cents per share) for the same period a year ago.

by Clark Kauffman, Iowa Capital Dispatch
April 7, 2022

A tangled and contentious five-year legal odyssey involving the owners of eastern Iowa’s shuttered Cricket Hollow Zoo may finally be near an end.

The Iowa Supreme Court this week rejected zoo owners Pamela and Thomas Sellner’s efforts to set aside a judge’s finding that they were in contempt for having refused a court order to surrender the animals at their roadside attraction in Manchester.

The contempt ruling calls for the Sellners to pay $70,000 in fines. If payments are not made toward the fine, the Sellners will have to serve a one-day jail sentence for each animal that was not recovered from their zoo, for a total of 140 days.

Court records indicate no payments have been made on the fine.

The City of Bettendorf recently negotiated a complicated agreement with sports complex developers over a six-month period, but did so without even a single email or written document shared with city council members.

So how did the city reach a deal with developers Doug Kratz, Kevin Koellner and Ryan Hintze without sharing any written communication with city council members or any public meetings to discuss what should be in the contract?

According to City Attorney Chris Curran, the council was kept abreast of staff negotiations through "informational meetings" held behind closed doors.

Source: 2020 Iowa Statewide Greenhouse Gas Emissions Inventory Report, Dec. 31, 2021

Iowa's greenhouse gas emissions in 2020 fell 7.6 percent from 2019, primarily because of lower electric power plant production and fewer vehicle miles traveled that resulted from the pandemic.

CLICK HERE to download the full report from the Iowa Department of Natural Resources.

Scott County opposed to use of new tax incentives for hotel, retail and commercial service businesses in proposed urban renewal area

The agreement providing millions of dollars in tax rebates for expansion of the sports complex at Forest Grove and Middle Roads was released Friday afternoon (2/11), less than three days before the Bettendorf City Council holds a public hearing and votes on it.

The council has discussed the agreement in so-called "3-on-3 meetings" outside the public view for months, but has yet to talk publicly about the multi-million-dollar Tax Increment Finance (TIF) deal with developers Doug Kratz, Kevin Koellner and Ryan Hintze.

It is possible the city council could approve the deal without any members even expressing their views on the agreement.

The agenda for the council's committee-of-the-whole meeting at 5 p.m. Monday (2/14) includes a presentation by the city's Director of Economic Development Jeff Reiter. No public comments are allowed at those sessions.

The council is then expected to hold a public hearing and approve the development agreement at its 7 p.m. Feb. 15 meeting.

CLICK HERE to download the proposed development agreement.

Lee Enterprises, Inc. today (2/3) reported a 20 percent decline in first quarter earnings compared with a year ago, while efforts by hedge fund Alden Global Capital to acquire the Davenport-based print and online media company intensified.

Lee – owner of the Dispatch/Argus and Quad City Times – earned $13.2 million ($2.21 per share) during the quarter ended Dec. 26, 2021, compared with $16.4 million ($2.79 per share) for the same period a year ago. The lower earnings occurred despite the inclusion of a one-time $12.3-million gain from the sale of company assets.

Meanwhile, Alden Global is seeking to replace Lee's Chairman and CEO Mary Junck and long-time board member Herbert Maloney III on the company's board of directors. Alden has submitted an alternative slate of candidates for the director slots coming up for election at the company's annual meeting to be held March 10.