Ingersoll Bond Buyback Deadline Extended to May 11
Ingersoll Newspapers Inc extends the tender deadline for its junk bond buyback to May 11 after no offers by May 4. The plan aims to repurchase up to 80 percent of 125 million dollars in bonds at 55 cents on the dollar and 51 percent of 115 million dollars in nonperforming bonds at 25 cents on the dollar. Bond terms remain unchanged with a 13 percent coupon and a potential rate reset.
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Princeton
N.J
Ingersoll Newspapers Inc
Stanley J. Kay
Deve Rogerson Inc
Ingersoll
Lorain Journal
EPA recalls 1985 Plymouths and Dodges for emissions
The EPA announced Chrysler recalls eight 1985 models including the Plymouth Horizon Turismo Reliant and the Dodge Omni Charger Aries lines for carburetor choke valve issues. About 383,700 vehicles nationwide are affected, California excluded. Chrysler will replace the choke vacuum delay valve free at dealers.
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Washington
Chrysler Corp
Environmental Protection Agency
EPA
Chrysler
California
Chrysler-Plymouth
Dodge
Creston Livestock Sale Shows Wide Ranges Across Goods
At Creston Auction 297 consignors sold 754 head with four goats and one pony. Hay loads included first and second cuttings with alfalfa and wheat straw priced up to 70 dollars. Calves, sheep, hogs and cattle posted varied price ranges from 10 to 195 dollars per head across categories.
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Creston
Greyhound Chairman assails bankruptcy rumors
Fred Currey, chairman and CEO, told reporters Greyhound is not headed for Chapter 11. He said creditors and suppliers support rebuilding the strikebound route network over short term financial needs, despite missed payments and a 55.8 million first quarter loss.
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Dallas
Fred Currey
Greyhound Lines Inc
Currey
Greyhound
Berea approves abatement for ITT Lester Industries
Berea City Council votes 6 to 1 to grant ten year 90 percent tax abatement for ITT Lester Industries aluminum die casting plant on a 22 acre Bagley Road site. opponents warn of air and water pollution risks citing lead copper zinc benzene and toluene in a 1985 Federal Register. ITT Lester pledges strict environmental standards and a $1 million closed loop water treatment facility. site selections include Lorain and Twinsburg with final decision expected later this month.
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Berea
Itt-Lester Industries Inc
Brenda Mayhew
Itt-Lester
Bagley Road
David Gitlin
Pineview Drive
Gitlin
Federal Register
Lorain
Twinsburg
Painter
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