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.
The troubled Agriprocessors meatpacking plant in Postville will probably be sold to a company with ties to a Montreal-based businessman.
After an auction in bankruptcy court this afternoon, SHF Industries LLC., a new Iowa corporation tied to Canadian businessman Hershey Friedman, remains the only bidder for the bankrupt kosher meatpacker.
The Des Moines Register has more details:
SHF Industries has agreed to pay about $8.5 million to two banks that were Agriprocessors’ biggest creditors. Many smaller creditors, including numerous Postville-area businesses, would get nothing from the deal. The new owner would have to work out settlements with companies that have leased equipment to Agriprocessors.
The sale is expected to be wrapped up at a court hearing July 15. Joseph Sarachek, the court-appointed trustee, said the deal would have to be approved by a federal bankruptcy judge, but he said he saw no obstacles at this point.
The plant has been mostly shut down for the past year, but the Register cites state economic development officials who say that they expect SHF Industries to revive the business if the sale earns final approval.
Meanwhile, former Agriprocessors CEO Sholom Rubashkin awaits what are likely to be two separate trials, one for alleged immigration-related offenses and one for alleged violations of financial regulations.
Do you know where to vote on Election Day? Do you know what to bring with you? Get comprehensive voter information for your state here.
Sign up for our email newsletter