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.
Davenport-based Lee Enterprises Inc., publisher of the Quad City Times, the Sioux City Journal and the Waterloo Courier, announced today that its second-quarter profit fell 87.4 percent mostly on one-time impairment charges. The company’s net income is $2.8 million, or 6 cents per share, for the three months ended June 29, compared with $22.5 million, or 49 cents per share, in the same period last year.
Excluding the impairment charges, earnings per share were 28 cents, compared with 49 cents a year ago.
“Because we cannot foresee the length of the economic downturn, we are focusing on rigorous cost reductions through staff reorganizations, narrower page widths, newsprint conservation programs and other efficiencies, as well as reduced capital spending,†said Mary Junck, chairman and chief executive officer of Lee Enterprises. “In our fiscal year that begins this fall, assuming no new surprises in newsprint prices, we are aiming for a further reduction in cash costs of 5 to 7 percent.â€
Last week Gannett Company Inc., publisher of The Des Moines Register and the Iowa City Press-Citizen, reported a 20 percent drop in second-quarter earnings. The company said it earned $233 million, or $1.02 per share, compared with $290 million, or $1.24 per share, in the year-ago quarter. Gannett revenues fell 10 percent to $1.72 billion in the quarter.
Follow Jason Hancock on Twitter
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