Briefs: Yahoo reportedly interested in Omaha data center
OMAHA — State and local officials are negotiating with Yahoo, the big Internet search engine company, to build a data center in the Omaha metropolitan area, the Omaha World-Herald reported. Quoting an unidentified source it said was close to Gov. Dave Heineman, the World-Herald reported negotiators are “at a very serious stage” in those talks and Yahoo might decide within five or six weeks.
In a copyright story published Sunday, Heineman said the state desires such companies.
Officials from Omaha city government and the Greater Omaha Chamber of Commerce would not comment.
Baldwin Filters delays Kearney expansion
KEARNEY — The expansion of Baldwin Filters’ Kearney plant will be delayed because the anticipated price tag exceeded the expected $20 million.
Baldwin President Sam Ferrise says the high cost of materials made the price of the new warehouse and distribution center much higher than planned.
The company, which makes oil, air and fuel filters for engines, will rework the project to limit costs.
Ferrise says he expects the project will be delayed six to eight months with construction likely beginning in the spring of 2010.
Baldwin Filters employs about 850 people in Kearney and expects to add about 50 jobs over the next five years after the expansion.
Baldwin is part of Franklin, Tenn.-based manufacturing conglomerate Clarcor Inc.
Bank of Madison agrees to penalty
The Federal Deposit Insurance Corp. said the Bank of Madison, in Madison, Neb., had agreed to an order to pay the bank regulator a $1,575 civil penalty for violations of the Flood Disaster Protection Act: lending money on a building in a federal flood-hazard area without requring the property to be covered by flood insurance, without requiring sufficient flood insurance and failing to notify borrowers about the availability of federal flood insurance.
The order was dated June 11, but posted on the FDIC Web site on Friday.
FCC approves Verizon Rural Cellular deal
WASHINGTON — Federal regulators have approved Verizon Wireless’ purchase of Rural Cellular Corp., but are requiring the company to divest licenses, network assets and related operations in three markets in Vermont, two in Washington state and one in New York.
Rural Cellular, based in Alexandria, Minn., provides wireless services under the Unicel brand name in 15 states. It does not operate in Nebraska.
Verizon Wireless, a joint venture of New York-based Verizon Communications Inc. and Britain’s Vodafone Group PLC, also is seeking regulatory approval to buy rural wireless carrier Alltel Corp. in a deal that would make it the largest cellular provider in the U.S.
Bay Harbour to bid for Steve & Barry’s assetsPORT WASHINGTON, N.Y. — Steve & Barry’s LLC has received a $163 million offer for some of its assets from Bay Harbour Management.
The teen apparel retailer, which filed for bankruptcy protection in July, has filed a “stalking horse” asset purchase agreement with a unit of Bay Harbour with the U.S. Bankruptcy Court for the Southern District of New York.
A “stalking-horse” bid is the initial bid on a bankrupt company’s assets from a buyer chosen by the company under bankruptcy protection. Subject to court approval, the “stalking-horse” proposal serves as the opening bid during an auction scheduled to take place later in the month.
The investment firm says it intends to operate the Steve & Barry’s chain as a going concern.
From staff and wire reports
In a copyright story published Sunday, Heineman said the state desires such companies.
Officials from Omaha city government and the Greater Omaha Chamber of Commerce would not comment.
Baldwin Filters delays Kearney expansion
KEARNEY — The expansion of Baldwin Filters’ Kearney plant will be delayed because the anticipated price tag exceeded the expected $20 million.
Baldwin President Sam Ferrise says the high cost of materials made the price of the new warehouse and distribution center much higher than planned.
The company, which makes oil, air and fuel filters for engines, will rework the project to limit costs.
Ferrise says he expects the project will be delayed six to eight months with construction likely beginning in the spring of 2010.
Baldwin Filters employs about 850 people in Kearney and expects to add about 50 jobs over the next five years after the expansion.
Baldwin is part of Franklin, Tenn.-based manufacturing conglomerate Clarcor Inc.
Bank of Madison agrees to penalty
The Federal Deposit Insurance Corp. said the Bank of Madison, in Madison, Neb., had agreed to an order to pay the bank regulator a $1,575 civil penalty for violations of the Flood Disaster Protection Act: lending money on a building in a federal flood-hazard area without requring the property to be covered by flood insurance, without requiring sufficient flood insurance and failing to notify borrowers about the availability of federal flood insurance.
The order was dated June 11, but posted on the FDIC Web site on Friday.
FCC approves Verizon Rural Cellular deal
WASHINGTON — Federal regulators have approved Verizon Wireless’ purchase of Rural Cellular Corp., but are requiring the company to divest licenses, network assets and related operations in three markets in Vermont, two in Washington state and one in New York.
Rural Cellular, based in Alexandria, Minn., provides wireless services under the Unicel brand name in 15 states. It does not operate in Nebraska.
Verizon Wireless, a joint venture of New York-based Verizon Communications Inc. and Britain’s Vodafone Group PLC, also is seeking regulatory approval to buy rural wireless carrier Alltel Corp. in a deal that would make it the largest cellular provider in the U.S.
Bay Harbour to bid for Steve & Barry’s assetsPORT WASHINGTON, N.Y. — Steve & Barry’s LLC has received a $163 million offer for some of its assets from Bay Harbour Management.
The teen apparel retailer, which filed for bankruptcy protection in July, has filed a “stalking horse” asset purchase agreement with a unit of Bay Harbour with the U.S. Bankruptcy Court for the Southern District of New York.
A “stalking-horse” bid is the initial bid on a bankrupt company’s assets from a buyer chosen by the company under bankruptcy protection. Subject to court approval, the “stalking-horse” proposal serves as the opening bid during an auction scheduled to take place later in the month.
The investment firm says it intends to operate the Steve & Barry’s chain as a going concern.
From staff and wire reports
Copyright © 2002-2008 Lincoln Journal Star. All rights reserved.