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10/16/2009
KLEM NEWS UPDATE-AM
(MERRILL)--A RENEWABLE FUEL PRODUCER IN MERRILL IS MAKING A 10-MILLION DOLLAR INVESTMENT DRIVE.
PLYMOUTH ENERGY C-E-O DAVE HOFFMAN SAYS THREE-POINT-FOUR-MILLION DOLLARS OF THE 10-MILLION DOLLARS AUTHORIZED BY THE PLYMOUTH ENERGY BOARD HAS BEEN RAISED. .
"IN OUR LENDING WITH THE BANK, KIND OF AN INCENTIVE FROM THEM, IF WE RAISE AN ADDITIONAL FIVE-MILLION DOLLARS TO WHAT WE'VE ALREADY RAISED, THEY'VE OFFERED TO LOWER OUT LENDING RATE ON OUR PRIMARY LOANS BY A HALF OF A PERCENT," HOFFMAN SAYS. "SO THE MONEY THAT COMES IN, MOST OF IT WE'LL USE TO REPLACE AN OPERATING LOAN THAT WE ALREADY HAVE AT THE BANK."
HOFFMAN SAYS A LOT OF ETHANOL COMPANIES ARE SET UP TO REQUIRE CAPITAL INFUSION. HOFFMAN EXPLAINS PLYMOUTH ENERGY IS NOT THAT WAY--IN HIS WORDS, "IT'S STRICTLY A VOLUNTARY ACTION."
"IF WE DON'T RAISE THE MONEY WE'RE FINE. IF WE DO RAISE THE MONEY, WE'RE GOING TO USE IT TO DO A LITTLE MORE HEDGING. WE'RE RUNNING THE PLANT VERY CONSERVATIVELY. SO, IF WE DO RAISE THE EXTRA MONEY WE'LL PROBABLY PUT SOME MORE POSITIONS ON AS THERE ARE GOOD CRUSH OPPORTUNITIES ON HEDGING FOR THE ETHANOL AND WHEN WE DO THAT WE HEDGE THE CORN, WE HEDGE THE ETHANOL SALE AND WE HEDGE THE NATURAL GAS. THOSE THREE ITEMS COME INTO IT. AFTER THE SALE IS COMPLETED THEN, THE HEDGE IS LIFTED, WE DON'T DO ANY SPECULATIVE TYPE ACTIVITIES, BUT WE DO DO SOME HEDGING WORK."
HOFFMAN SAYS THE PLANT DESIGNED TO TURN CORN INTO 50-MILLION GALLONS OF ETHANOL A YEAR WAS AT 106 PERCENT OF NAME PLATE PRODUCTION WEDNESDAY.
"I CAN TELL YOU LAST NIGHT (WEDNESDAY), WE WERE ABOUT 106 PERCENT OF NAME PLATE PRODUCTION SO THE PLANT IS GOING WELL," HOFFMAN REPORTS. WE HEAR DURING THE YEAR THAT 'OH YOUR PLANT IS OFF OR ON' WHEN THEY SEE THE STEAM BUT IF THE DAYTIME IS RIGHT AND WEATHER CONDITIONS ARE PROPER THE PLANT MIGHT BE RUNNING AT FULL CAPACITY WHEN THERE'S NO STEAM COMING OUT BECAUSE IT'S JUST A WEATHER CONDITION WHEN YOU CAN SEE THE STEAM. SO THE PLANT IS RUNNING VERY WELL. THE HEDGE MARGINS ARE GOOD TODAY. SO WE'VE BEEN PROFITABLE. WE'RE OPERATING IN THE BLACK. WE'VE CREATED QUITE A LITTLE CASH SINCE THE FIRST OF THE YEAR."
HOFFMAN SAYS THE ETHANOL MAKER IS DOING VERY WELL AND HAS HAD NO LAYOFFS AND HASN'T REDUCED WAGES TO ANYONE.
(DES MOINES)--TWO NORTHWEST IOWANS ARE GOVERNOR CULVER'S CHOICE FOR STATE BOARDS AND COMMISSIONS.
BLAINE DONALDSON OF KINGSLEY HAS BEEN NOMINATED BY CULVER TO SERVE ON THE BOARD OF BEHAVIORAL SCIENCE. A RETIRED STORM LAKE CARE CENTER ADMINISTRATOR, DONALDSON IS A MEMBER OF THE OLDER IOWANS LEGISLATURE WHO SERVED AS THE GROUP'S SPEAKER LAST MONTH. .
DONALDSON'S TERM IS TO BEGIN IMMEDIATELY AND END IN APRIL OF 2012.
A RETIRED MAURICE ORANGE CITY HIGH SCHOOL TEACHER, MABLE MANTEL, IS CULVER'S CHOICE FOR THE BOARD OF NURSING HOME ADMINISTRATORS.
MANTEL IS A MEMBER OF THE OLDER IOWANS LEGISLATURE, THE ORANGE CITY LIBRARY BOARD, THE SIOUX COUNTY COUNCIL ON AGING AND THE NORTHWEST AGING BOARD. HER TERM IS ALSO TO BEGIN IMMEDIATELY AND END IN APRIL OF 2012.
(HINTON)--AN EFFORT TO WIN STATE FUNDS TO BUILD AN EDUCATION CONSERVATION OPPORTUNITIES CENTER (ECO) CENTER NEAR HINTON IS MOVING FORWARD. .
PLYMOUTH COUNTY CONSERVATION BOARD DIRECTOR DENNIS SOHL MET WITH THE VISION IOWA BOARD WEDNESDAY IN DUBUQUE TO DISCUSS THE PROJECT.
THE CONSERVATION BOARD IS APPLYING FOR 92-THOUSAND DOLLARS FROM THE COMMUNITY ATTRACTIONS AND TOURISM FUND OF VISION IOWA.
SOHL SAYS THE GROUP VOTED TO MOVE INTO THE NEGOTIATIONS PHASE OF THE PROJECT.
BASED ON THE EXPERIENCE OF OTHERS WHO'VE REQUESTED THE COMMUNITY ATTRACTIONS AND TOURISM GRANT FUNDS, SOHL SEES THE NEGOTIATIONS DECISION AS A POSITIVE OUTCOME OF THE MEETING.
HE'S WAITING FOR WORD ON NEGOTIATIONS AND WILL PRESENT A PROJECT UPDATE TO THE PLYMOUTH COUNTY BOARD OF SUPERVISORS NEXT TUESDAY.
(LE MARS)--A NOVEMBER SENTENCING DATE IS SET FOR A LE MARS MAN WHO WAS FOUND GUILTY OF CHARGES RELATED TO A SHOT GUN BEING FIRED IN LE MARS IN AUGUST OF LAST YEAR.
LE MARS POLICE CHARGED 69-YEAR-OLD GARY HOLST WITH RECKLESS USE OF A FIREARM, ASSAULT WHILE COMMITTING A FELONY AND INTIMIDATION WITH A DANGEROUS WEAPON.
IN PLYMOUTH COUNTY DISTRICT COURT THIS WEEK, HOLST WAS TRIED ON CHARGES OF CRIMINAL MISCHIEF IN THE THIRD DEGREE AND RECKLESS USE OF A FIREARM.
JUDGE JEFFREY NEARY LISTED THE FACTS OF THE CASE AS INVOLVING A SHOTGUN BEING FIRED AT A VEHICLE WITH TWO YOUNG PEOPLE IN IT WHO HAD PREVIOUSLY RUNG HOLST'S DOOR BELL. THE VEHICLE WAS DAMAGED AND NEIGHBORS REPORTED SHOTGUN PELLETS AT THEIR HOME.
SENTENCING IS SET FOR NOVEMBER 12TH AT 9:30 A-M IN DISTRICT COURT. HOLST IS FREE ON BOND.
(SIOUX CITY)--THE FIRST GRADUATES OF FAMILY DRUG COURT IN A NORTHWEST IOWA COUNTY WILL BE HONORED OCTOBER 29TH.
WOODBURY COUNTY WAS ONE OF FIVE COMMUNITIES TO RECEIVE FEDERAL FUNDS TO ESTABLISH A FAMILY DRUG COURT IN PARTNERSHIP WITH JACKSON RECOVERY CENTER AND THE DEPARTMENT OF HUMAN SERVICES .
JUDGE BRIAN MICHAELSON LED FAMILY DRUG COURT IN WOODBURY COUNTY FOCUSING ON PARENTS WHO HAVE SUBSTANCE ABUSE PROBLEMS. MOST OF THE PARENTS ARE METHAMPHETAMINE ADDICTS WHO ARE AT RISK OF HAVING CHILDREN PLACED OUTSIDE OF THEIR CARE. THE PROGRAM HAS AN 80 PERCENT RETENTION RATE.
JUDGE MICHAELSON SAYS WORKING WITH THE FAMILY DRUG COURT HAS RE-ENERGIZED HIM IN HIS WORK WITH FAMILIES . HE EXPLAINS WITH FAMILY DRUG COURT THERE IS MORE HOPE FOR THE FAMILY.
(ORANGE CITY)-THE SIOUX COUNTY SHERIFF'S OFFICE FILED CHARGES AFTER A NEW MEXICO RESIDENT REPORTED SOMEONE WAS USING THEIR IDENTITY FOR EMPLOYMENT.
THE SHERIFF'S OFFICE ARRESTED 59-YEAR-OLD VICTOR MANUAL CANALES OF ALTON ON FOUR FELONY CHARGES WEDNESDAY.
CANALES IS ACCUSED OF USING A DIFFERENT NAME, DATE OF BIRTH AND SOCIAL SECURITY NUMBER TO GET JOBS AT B AND B POULTRY IN HOSPERS AND ADVANCE BRANDS IN ORANGE CITY.
CANALES IS CHARGED WITH TWO FORGERIES AND TWO CHARGES OF IDENTITY THEFT.
(SIOUX CITY)--MERCY MEDICAL CENTER IS MAKING A TRANSITION IN THE WAY SERVICES ARE DELIVERED AT DAKOTA DUNES.
MERCY SPOKESMAN MIKE KRYSL SAYS MERCY WILL NOT EXIT DAKOTA DUNES. HE SAYS MERCY WILL CONTINUE TO OFFER FAMILY PRACTICE MEDICINE IN THAT COMMUNITY AND IS LOOKING AT THE POSSIBILITY OF EXPANDING SERVICES THERE. PLANS FOR SERVICES ARE EXPECTED TO BE FINALIZED IN THE NEXT FEW WEEKS.
THROUGH MERCY MEDICAL SERVICES, A PARTNER WITH MERCY MEDICAL CENTER OF SIOUX CITY, A NEW RURAL HEALTH CLINIC WILL OPEN IN HOOPER, NEBRASKA EARLY NEXT YEAR.
THE NEW HOOPER MERCY MEDICAL CLINIC WILL OPERATE UNDER THE DIRECTION OF OAKLAND MERCY HOSPITAL IN OAKLAND, NEBRASKA WHICH IS OWNED BY MERCY. THE CLINIC WILL BE IN THE PREIOVUS SITE OF THE HOOPER FAMILY PHYSICIAN CLINIC.
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© 2002 KLEM.
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