Wednesday was a difficult day for The American Independent News Network, which is the larger entity that operates The Iowa Independent. Our chief executive and founder announced two of our sister sites would close and their content would be moved to The American Independent.
A recently introduced bill could have far-reaching impact on the U.S. sugar industry, including American Crystal Sugar, a farmer-owned cooperative that locked out 1,300 Midwest workers on Aug. 1.
The chairman for Herman Cain’s Iowa effort says the campaign “relied more on the word of farmers than Washington regulators” in deciding to run an ad containing claims the Environmental Protection Agency says are false.
The Iowa Senate will remain under the control of a slim 26-25 Democratic majority when it reconvenes in January 2012.
Deal proposed to bankruptcy court by Fla. company no longer seems plausible
A potential buyer has made a pitch for Agriprocessors, the beleaguered kosher meatpacking plant in Postville, but stipulations associated with the sale make the deal seem unlikely.
Quantum Partners Inc., a Florida-based equity investments company, has made an offer that would include payoff of the $35 million Agriprocessors owes to First Bank Business Capital. The offer was detailed in a Dec. 11 letter to the court by Quantum principal Marxx Theresias. The deal stipulated the Chapter 11 bankruptcy, filed by Agriprocessors’ current owners in early November, staying in New York courts, as well as the Rubashkin family retaining part ownership.
As Iowa Independent reported last week, the New York judge hearing the bankruptcy case has granted a change of venue. The case will now be heard in the Northern District of Iowa — along with the multitude of criminal cases that have been filed in conjunction with the May 12 immigration raid at the plant.
Quantum has not made formal comment as to the extent the change of venue will affect its offer, but Theresias did tell the Cedar Rapids Gazette that he is aware the various situations surrounding Agriprocessors could turn into “a media nightmare.” Joseph Sarachek, bankruptcy trustee, while not dropping names, but has stated that other investors are interested in Agriprocessors. Sarachek, according to The Des Moines Register, called Quantum’s offerings “a half-baked proposal.”
WHO-TV in Des Moines is reporting that state officials have said they do not want to see the Rubashkin family retain any ownership interest in the company. If true, the statement might partially explain the reason federal authorities have modified the criminal complaint against the plant and members of the mangement team to include property, trademarks and the corporate name.
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