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Activist investor seeks to remove three from Lee Enterprises' board, including chairman and CEO

on Fri, 01/18/2019 - 00:56   by news

A Wyoming-based activist investor – who has publicly feuded with James Cramer of CNBC's "Mad Money" – wants Lee Enterprises, Inc. shareholders to replace three members of the Davenport media company's board of directors, including chairman Mary Junck and President/CEO Kevin Mowbray.

J. Caro Cannell in a filing Wednesday (1/16/19) with the Security and Exchange Commission (SEC) labeled the Lee board "stale, lethargic and devoid of any skin in the game." He urged shareholders not to re-elect Junck, Mowbray and board member Herbert W. Maloney III at the upcoming Lee annual meeting in February. Lee owns 46 daily newspapers, including the QC Times and the Dispatch/Argus.

Bettendorf sports complex developer wants to split future sales tax rebates rather than pay $556,000 due under development agreement with city

on Fri, 01/11/2019 - 21:43   by news

The developer of the Bettendorf sports complex wants the city to accept a portion of state sales tax rebates over a 10-year period, rather than pay $556,000 now owed under terms of the 2017 agreement.

The agreement with developer Doug Kratz set a cap of $3.87 million on city paid infrastructure for the so-called Bettplex at Middle Road and I-80. However, the cost of the streets, sewers, storm water detention and walkways exceeded that by $844,000.

Lee Enterprises' print circulation falls another 8 percent; company looks to future 'inflection point' where digital revenue will surpasses print ad dollars

on Wed, 12/19/2018 - 01:45   by news

Lee Enterprises, Inc. Executive Chairman Mary Junck told stock analysts last week the media company – owner of the Quad City Times and Dispatch/Argus – remains "steadfast in our optimism" with "a growth strategy aimed at achieving a digital inflection point when digital-related revenues exceed print-related revenues."

The company also reported higher earnings for the fourth quarter ($4.4 million versus $3.5 million a year ago) and for the full fiscal year ($28.6 million versus $18.4 million) ended Sept. 30.

The positive comments and financial results, though, weren't enough to lift the firm's stock price, which fell to a 52-week low of $1.87 Tuesday (12/18).

Bettendorf sports complex infrastructure costs reach $4.6 million; city has yet to seek any reimbursement for $760,000 overrun of development agreement

on Wed, 12/12/2018 - 21:14   by news

Eight months after the Bettendorf sports complex opened for business, the city has yet to determine how much developers will contribute to the $760,000 cost overrun for streets, sewers and storm water detention for the facility.

The city has paid $4.63 million for the project's entry roads, interior walkways, sewer and storm water facilities to date. That's $760,000 more than the city agreed to pay under its development agreement with BettPlex developers Doug Kratz and Kevin Koellner.

Sewage overflows return as flood water, heavy rains infiltrate lines; exceed treatment plant capacity

on Thu, 10/25/2018 - 19:57   by news

Flooding and heavy rains early this month once again forced Bettendorf to pump raw sewage into the Mississippi River.

That's because the Davenport Sewage Treatment Plant wasn't able to handle inflows to the facility and closed gates to the main interceptor along the Mississippi riverfront, requiring Bettendorf to pump sewage from its riverfront lines into storm water pipes that flow into the river.

If the city did not use the pumps, sewage could back up into riverfront businesses and homes.

Grain Processing to pay $50 million to compensate Muscatine residents harmed by plant's air pollution

on Wed, 10/24/2018 - 19:37   by news

Grain Processing Corporation (GPC) has been ordered to pay $50 million in damages to settle a class action lawsuit over air pollution from its Muscatine corn-milling plant that harmed thousands of nearby residents.

Iowa District Court Judge John Telleen gave preliminary approval of the settlement Monday (October 22), concluding six years of litigation over air pollution from the GPC facility.

Cricket Hollow Zoo owners facing another legal challenge over alleged mistreatment of animals

on Tue, 10/23/2018 - 20:11   by news

Cricket Hollow Zoo is facing another legal challenge from the Animal Legal Defense Fund (ALDF) over alleged mistreatment of animals remaining at its rural Manchester "animal park."

The roadside zoo was forced to give up its endangers lemurs and lions after a federal court ruling a year ago, and now ALDF has filed suit against zoo owners Pam and Tom Sellner in Iowa District Court alleging "persistent neglect of its animals," and "flagrant disregard for federal and state animal protection laws. . ."

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