Illinois Public Media News

AP - Illinois Public Media News - May 12, 2009

New Company Hopes to Hire Some Laid-off Paxton Workers

The Baltimore Aircoil plant in Paxton will close its gates by the end of June, and all 223 workers will be laid off. But the city says it can save at least some of the jobs.

Mayor William Ingold says another manufacturing company ... Colmac Industries... will locate in the city and is going to use parts of the Baltimore Aircoil building:

"They're going to retain one of the lines that was used by Baltimore Aircoil, and they'll retain 20 to 25 employees right away with more coming online later on and keeping the plant going to a certain extent," Ingold said.

Ingold says the city council has approved a $375,000 low-interest loan to create jobs at the Colmac Industries plant - he says former Baltimore Aircoil workers may qualify for those jobs. The company plans to start manufacturing as soon as possible.

Ingold says he still doesn't understand why Baltimore Aircoil feels the need to close.

Categories: Business, Government, Politics

AP - Illinois Public Media News - May 11, 2009

Champaign Wants a Bigger Buffer Zone for Outlying Wind Turbines

The Champaign County Board is expected to vote this month on a proposal to allow the development of wind turbine farms on agricultural land. Some Champaign city officials say that's fine with them --- if the county inserts a new rule to keeping the wind farms further away from the city.

Champaign and other communities already have a mile and a half around their borders where they can overrule the county on zoning. It's called 'extra-territorial jurisdiction" or ETJ. For wind farms, Champaign city planners and the city Plan Commission recommend asking the county for an additional mile of ETJ. Land Development Manager Lorrie Pearson says they want to make sure the city can grow without bumping up against a wind farm. "Whereas today if a wind farm is located immediately adjacent to the ETJ, in the future it may actually be within the ETJ or perhaps even within our growth area," Pearson said. "So we want to really look at how our city grows and have that be more consistent with our comprehensive plan rather it be regulated by wind farms that are existing within our county."

The Champaign City Council hasn't discussed the matter yet, but the County Board's Environment and Land Use Committee will look at the ETJ request at their meeting tonight, prior to a county board vote next week. Committee Chair Barb Wysocki isn't commenting on the idea. But she says the current proposals for Champaign County wind farms would be built well away from Champaign.


AP - Illinois Public Media News - April 28, 2009

Christie Clinic Settles with State Over Medicaid Patient Lawsuit

Christie Clinic has joined Carle Clinic in agreeing to increase the number of Medicaid patients it accepts for treatment.

Illinois Attorney General Lisa Madigan sued the two Champaign-Urbana medical clinics two years ago - claiming they conspired illegally to stop accepting new Medicaid patients. Carle settled with the state last December. And late yesterday (Monday), the attorney general's office announced Christie had done the same.

Under the settlement, Christie Clinic will increase the number of Medicaid patients it takes in for primary health care to 85-hundred over the next three years. And those patients can't be turned away for existing medical debt for a four-year period prior to the state's lawsuit --- that's when the attorney general says qualified Medicaid patients were turned away. Christie will also make payments to Frances Nelson Health Center and the Champaign Urbana Public Health District to help pay for medical and dental care for low-income patients.

Christie spokeswoman Karen Blatzer denies that happened, and she said the suit was settled to curb costs. "We don't want the perception to be that we are guilty. But we feel that it is more important to provide the health care our community needs, and being involved in this lawsuit was expensive and very distracting," Blatzer said.

Blatzer did not know how much the additional Medicaid patient load would cost Christie. The clinic has agreed to increase its Medicaid patient rolls to 85-hundred by 2012.

Blatzer says the payments to Frances Nelson Health Center and the Champaign Urbana Public Health District equal when Christie has given to them in the past.


AP - Illinois Public Media News - April 24, 2009

Future of Urbana’s Historic Lincoln Hotel Still Up in the Air

An Urbana city official says the owner of the Historic Lincoln Hotel and the bank that foreclosed on the property are still in negotiations.

Economic Development Manager Tom Carrino says Marine Bank and Global Hotel Management are still talking, with hopes of transferring the bank's ownership back to the company.

Carrino says he spoke with both sides on Friday, a day after a company subsidiary that owned the hotel filed for Chapter Seven bankruptcy. The filing automatically canceled a sheriff's foreclosure sale that had been scheduled for Friday.

The Historic Lincoln Hotel closed last month, after Marine Bank foreclosed on the property. Despite that, Global Hotel Management announced plans to renovate the building and open it with a new operator next year. The hotel in downtown Urbana was designed by local architect Joseph Royer and first opened in the 1920s.


AP - Illinois Public Media News - April 21, 2009

Gov. Quinn’s Appointment for a State Board Steps Down

A doctor recently appointed by Gov. Pat Quinn to lead a scandal-plagued state board has withdrawn from the job because of a conflict of interest.

Quinn's office announced Tuesday that Dr. Quentin Young withdrew as chairman of the Health Facilities Planning Board because he has a minority interest in a doctor's office that owns property being leased to a health care system. Young says he is stepping down willingly.

Under state law, board members can't have business relationships with health care institutions. Young identified the conflict after his appointment last week.

Quinn had tapped Young to help resurrect the image of the board, which was caught up in the scandal that helped bring down former Gov. Rod Blagojevich.


AP - Illinois Public Media News - April 20, 2009

Money Smart Week” Focuses on Financial Literacy

A week full of classes and events in Champaign County is aimed at helping people guide their personal finances through the tough economy.

The Chicago Federal Reserve is kicking off Money Smart Week this week in several Illinois communities. It's meant to boost financial literacy in a time when it's more important than ever.

One of the advisory committee members in Champaign County is Parkland College president Tom Ramage, who says students and their families can use the courses to chart their immediate and long-term financial futures.

"This gives students the opportunity to get direct answers to specific questions they might have in a short, free -- which is a key word -- experience where they can spend a couple hours, or a couple days, on a specific topic that's relevant, timely to them," Ramage said.

Nearly 25 community agencies, banks, schools and other groups are putting on classes and seminars ranging from basic saving and investing to making budgets and preventing against identity theft.

You can find a schedule of events at the Chicago Fed's website, moneysmartweek.org.

Categories: Business, Economics, Education

AP - Illinois Public Media News - April 16, 2009

Shopping Mall Powerhouse Files for Bankruptcy Protection

General Growth Properties Inc., the nation's second-largest mall operator, says it has filed for bankruptcy protection after failing to convince its debt holders to give it more time to refinance its crushing debt.

The Chicago-based real estate investment trust said early Thursday it filed for Chapter 11 bankruptcy protection in a New York court. Some 158 regional shopping centers under its control also filed for bankruptcy protection.

The company owns Champaign's Market Place Mall.

General Growth says it received a financing commitment from Pershing Square Capital Management LP of about $375 million and expects it will be able to continue operating its malls as it reorganizes.

The operator of jewelry store in Market Place says most changes coming out of the bankruptcy announcement won't impact the common shopper.

Eric Connery... whose family owns Bauble's.... says he knew this news was coming for the past several months. But he believes having a lease intact makes his store an asset instead of a liability. Connery recently renewed the lease for another year.

He says other than some possible changes in management... it should be business as usual at the mall:

"Their financial problems are so far beyond the mall level they wouldn't affect us," Connery said. "I don't foreseeing anything changing for the negative. The only thing I'd see happening is maybe you'll have some different people in different positions, and change isn't always a bad thing."

Connery says General Growth Properties is just a company that needs time to get its finances restructured... and he expects its ownership of the Champaign mall to remain intact.

(from AM 580 and The Associated Press)

Categories: Business, Economics

AP - Illinois Public Media News - April 06, 2009

ADM Begins Carbon Dioxide Sequestration Experiment

Officials at Archer Daniels Midland's massive Decatur ethanol plant are showing off an 84 million dollar project to study a way to keep more carbon dioxide from reaching the atmosphere.

ADM is the first of seven sites around the nation to begin the process of storing more than a million tons of CO2 deep underground rather than letting it escape into the air. Researchers point to CO2 as a key factor in global warming.

Illinois State Geological Survey director Robert Finley says the experiment is beginning with a test well dug more than a mile into the rock formations under the plant to see how well it can handle the injected gas.

"With a relatively pure source of CO2 coming from ADM's ethanol fermentation facility here in Decatur combined with excellent geology suitable for testing carbon sequestration immediately below the Decatur area and in fact throughout central Illinois, that gives us an opportunity to carry out this test here at Decatur," Finley said.

It'll be another year before ADM will actually inject large amounts of CO2. Finley believes the Illinois Basin can hold many times more carbon dioxide than ADM, the proposed FutureGen coal plant and other industries in central Illinois can produce.


AP - Illinois Public Media News - April 02, 2009

The Uncertain Fate of Champaign’s Art Theatre and Art Movies

The operator of Boardman's Art Theatre in Champaign is apparently looking to relocate as the building's owner looks for either a new tenant, or to sell the facility for another use.

Owner David Kraft says the rent of 4 dollars a square foot he's charging isn't near the market rate... and he can't afford to charge that little when factoring in expenses like real estate tax, water, trash, and sewer rates. Kraft says he's made operator Greg Boardman an offer of just under 9-dollars a square foot.

"If he won't pay that and no one will pay that, then I think everybody needs to look and determine if there's demand for this, if there's sufficient interest," Kraft said. "If no one is willing to pay near market rent, then maybe we do have to look at different ideas."

Kraft suggests there may not be room for a movie theater anymore when considering what other downtown businesses are paying for first floor retail space. He's looking to sell the Church Street building for just over $1 million.

Kraft says he's drawn interest for other theater operators, but nothing concrete.

Boardman's lease on the Church Street location expires in December. He couldn't be reached for comment, but the co-owner of a building across the street... Bill Capel... confirms Boardman toured his facility last month. That building houses the old Rialto Theater. Capel says any talk of moving Boardman's there would include extensive talk about renovations.


AP - Illinois Public Media News - April 02, 2009

Sagging Numbers in Illinois Economic Index

A University of Illinois economist doesn't see a bottom yet in the latest economic slowdown.

The monthly U of I Flash Index authored by Fred Giertz fell for a seventh straight month in March. It now stands at 95.6 - with any number below 100 showing economic contraction. It's been five months since the index showed growth in the Illinois economy. The Flash Index takes the state's economic pulse by examining state tax receipts for the previous month. Giertz expects further declines ahead for the index. It still hasn't reached the level seem in the last two slowdowns, in 1990 and 2001 - and Giertz believes this latest recession is deeper.

Categories: Business, Economics, Education

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