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Iowa attorney general among Republican AGs suing BlackRock, other investment firms over ‘woke’ climate action efforts

on Sat, 12/07/2024 - 01:40   by Anonymous

by Allison Kite, Iowa Capital Dispatch
December 6, 2024

Major institutional investors have artificially lowered coal production and raised energy costs for consumers in an effort to lower global carbon emissions, a federal lawsuit claims.

Republican attorneys general in 11 states – including Iowa's Attorney General Breana Bird – filed a joint lawsuit last month against BlackRock, Vanguard and State Street, claiming the organizations’ efforts to pressure coal companies to lower carbon emissions and respond to climate change amount to anti-competitive business practices.

All three companies, the lawsuit says, have acquired significant shares in the largest publicly traded coal companies to coerce their management.

Thune, Grassley, and Ernst hold the power to stop Trump’s most problematic Cabinet nominations

on Thu, 11/21/2024 - 19:30   by Anonymous

by Robert Leonard and Andrew Green, Iowa Capital Dispatch
November 18, 2024

The election of South Dakota’s Senator John Thune as Senate majority leader is one of the few bright spots for our democracy as we move into the second presidency of Donald Trump.

Trump will have vast powers as he takes over in January, with Republicans holding the House, the Senate, and a compliant Supreme Court that recently granted him immunity from crimes he might commit while in power.

But that’s not enough for Trump. He’s nominating people for cabinet positions that are not only unqualified, they could prove to be a danger to the health and safety of the American people, our alliances abroad, and our democracy. Their only qualification is loyalty to Trump the man, not the Constitution of the United States.

Private-equity firm buys 29 Iowa nursing homes in massive $85 million deal

on Wed, 10/23/2024 - 02:49   by Clark Kauffman

Iowa Capital Dispatch
October 21, 2024

The sale of one of Iowa’s largest nursing home chains has reportedly been completed, with 29 care facilities now in the hands of a private equity firm.

According to Skilled Nursing News, the real estate brokerage firm of Marcus & Millichap says the $85 million transaction represents the largest nursing home sale ever recorded in Iowa. The 29 facilities represent 7% of the 410 nursing homes operating in Iowa.

The sale involves the transfer of care facilities previously owned by one of Iowa’s largest employers, ABCM Corp. of Hampton, to the Chicago-based private equity firm Cascade Capital Group.

According to a statement that Marcus & Millichap provided Skilled Nursing News, the final sale price of $85 million equates to $36,000 for each of ABCM’s 2,346 skilled-nursing beds and 326 assisted living units.

In recent years, the acquisition of nursing homes by private equity investors has come under scrutiny by regulators, the media and members of Congress, with critics suggesting too many profit-minded investors target care facilities for acquisition, starve them of cash while collecting a reliable stream of income from Medicare, and then cash out.

No state fines for alleged abuse and ‘unsafe’ staffing levels at Iowa nursing home in Shenandoah

on Thu, 09/19/2024 - 02:47   by Clark Kauffman

by Clark Kauffman, Iowa Capital Dispatch
September 18, 2024

The state of Iowa has suspended $47,500 in fines against a southwest Iowa nursing home cited for inadequate staffing and the physical and verbal abuse of residents.

According to state inspectors, although the Garden View Care Center in Shenandoah has insufficient staff on hand, the home’s director of nursing recently informed them she was being pressured by management to make further cuts in staffing due to budget constraints — adding that she felt doing so was “unrealistic and unsafe.”

Garden View is owned by an out-of-state real estate investment trust that is designed to provide investors with returns tied to the profits generated by dozens of nursing homes in Iowa and other states.

Lee Enterprises digital revenue surpasses print revenue as company loses $3.7 million in 3rd quarter

on Mon, 08/05/2024 - 22:30   by news

Lee Enterprises, Inc. – owner of the QC Times and Daily Dispatch/Argus – says it hit a "revenue inflection point" with more digital than print revenue in its third quarter.

But despite the transition milestone in digital revenue, the company lost $3.7 million (73 cents per share) during the three-month period ended June 23. The previous year, Lee reported third quarter net income of $2.1 million (26 cents per share).

“Our investment thesis is grounded in this transformation as we replace print revenue and margin with digital revenue and margin that are growing at a rapid clip," Kevin Mowbray, Lee's President and Chief Executive Officer, stated in the company earnings news release. "Total digital revenue has grown 17 precent annually over the last three years, and we expect this strong growth to continue.”

IDNR fines Kraft Heinz $8,000; Muscatine plant failed to monitor wastewater pollution for years

on Mon, 07/29/2024 - 20:05   by Anonymous

by Jared Strong, Iowa Capital Dispatch
July 26, 2024

A large eastern Iowa facility that makes ketchup and other condiments failed for more than two years to monitor contaminants in the more than 1 million gallons of untreated wastewater it discharged into a creek each day, according to the Iowa Department of Natural Resources.

Kraft Heinz Foods Company recently agreed to pay an $8,000 fine for the violations at its Muscatine location. It uses municipal water to cool its equipment and discharges it along with stormwater into Mad Creek, which flows for less than a mile to the Mississippi River.

Defense Secretary Austin orders review of medals awarded in the wake of Wounded Knee Massacre

on Thu, 07/25/2024 - 23:24   by Anonymous

by Seth Tupper, North Dakota Monitor
July 25, 2024

The medals awarded to soldiers who participated in the 1890 Wounded Knee Massacre will be subjected to a review, the U.S. Department of Defense announced Wednesday.

The department said the review’s purpose is “to ensure no awardees were recognized for conduct inconsistent with the nation’s highest military honor.”

The move comes after years of activism by Lakota people — including descendants of massacre survivors — who want the medals rescinded.

Oliver “OJ” Semans, a member of the Rosebud Sioux Tribe, has been active in the effort with his wife, Barb, and their Four Directions nonprofit. He said it’s gratifying to see some momentum after a long struggle, including failed attempts to rescind the medals through congressional legislation.

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