17 Jun 1997
Page 1
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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 17, 1997
Page
1
McLeodUSA Inc. to acquire Consolidated Communications Inc. in a 420 million cash and stock deal, expanding revenue to about 400 million and EBITDA of 6 million. The transaction adds 8.49 million McLeodUSA shares and 155 million in cash to CCI owners, with regulatory approval pending and completion expected within 60 days.
McLeod explains that regulation easing will shift telecom toward national firms heading for international markets. Super regional competitive local exchange carriers will serve mid markets while big players focus on cities and international expansion.
Iowa will begin charging inmates a $5 monthly room and board fee on July 1 affecting about 6 600 inmates in eight prisons. The state aims to raise about $340 000 to offset taxpayer costs, with debt if earnings fall short. Prisoners working now already contribute toward costs, exempting those workers.
Washington negotiators from the TV industry and children's advocacy groups meet to seek labels for sex language and violence in the ratings. Sen. John McCain predicts an imminent agreement while cautioning that a moratorium on further legislation is needed.
Family members insist Amanda Miller and Mandi Smith, both teens, are not involved in the slayings of Barbara Garber and Island Schultz and the Gibson Savings Bank robbery linked to two suspects. Authorities seek Kauffman and McMahan, while relatives fear for the girls' safety and urge witnesses to come forward.
About 350 people heard ECO present options to replace local landfills with alternatives. Cornell College economist Don Cell touted Illinois landfills as cheaper and well managed. Cedar Rapids projects included a 38 000 square foot transfer station by James Garnant and a waste to energy effort in Ames. Bluestem Solid Waste Agency seeks sites to replace full landfills with a short list due by July 10.
Linn County emergency director Clita A Ned Wright encounters public scrutiny of storm warning decisions. Sunday night drew fresh questions as residents debated system use. In other notes, Chicago Cubs defeated the White Sox 8-3 and the Mets beat the Yankees 6-0. An Alburnett clinic hosts a traveling exhibit of veterinary paintings and photos.
A state environmental panel urges the attorney general to prosecute DeCoster, alleging manure spills violate environmental rules. The push comes as officials review 6D details and potential penalties for the hog producer.
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