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Isle of Capri Casinos narrows loss in 3rd quarter, reports $1.2 million decline

on Fri, 02/24/2012 - 23:39   by Editor

Isle of Capri Casinos, Inc. - owner of the riverboat casinos in Bettendorf and Davenport - reported a $1.2 million loss for its third quarter ended January 22.

The 3 cents per share loss was an improvement over the third quarter of 2010 when the firm incurred a $2.66 million loss, or an 8 cents per share decline.

MidAmerican Energy return falls below 9%; triggers rate freeze end

on Fri, 02/17/2012 - 02:33   by Editor

A more than 2 percent decline in MidAmerican Energy's return on common equity in 2011 has prompted the utility to abandon a nearly decade-long rate deal and seek a two-year electric rate increase totaling $115 million.

The privately owned utility sent customers notices of the rate increase a week ago and MidAmerican is expected to file the rate case with the Iowa Utilities Board (IUB) next week.

City administration: no reason to back off 'aggressive' capital improvement program

on Mon, 02/13/2012 - 23:07   by Editor

Bettendorf city officials say they see no reason to curtail an "aggressive" capital spending plan or reduce long-term debt because overall city property values continue to grow significantly from higher assessments and strong commercial and residential construction.

City Administrator Decker Ploehn told alderman at a recent budget session that "picking an arbitrary debt levy rate or debt margin to living within may not allow the growth needed to maintain or upgrade our existing infrastructure."

CVS pharmacy planning new store at 18th Street and Spruce Hills Drive

on Tue, 02/07/2012 - 20:56   by Editor

Two high visibility Bettendorf intersections -- 18th Street and Spruce Hills Drive and Middle and Belmont Roads -- would get major new commercial businesses under projects being reviewed by the city.

CVS pharmacy wants to build a new 13,000-square-foot store on the northwest corner of 18th and Spruce Hills and is seeking a special use permit for the drive-up window.

AARP calls prompt delay in Senate committee vote on nuclear power bill

on Thu, 02/02/2012 - 01:48   by Editor

Calls to Iowa legislators by members of AARP Tuesday (1/31) apparently delayed the first vote on a controversial bill giving MidAmerican Energy authority to raise electric rates upfront to pay for construction of a nuclear power plant.

IowaPolitics.com reported Iowa members of the American Association of Retired Persons (AARP) flooded the state legislature with more than 1,500 calls opposing the bill now before the Iowa Senate Commerce Committee.

Lee Enterprise stock jumps after company gets OK to exit bankruptcy

on Fri, 01/27/2012 - 03:56   by Editor

Lee Enterprise stock nearly doubled in price to $1.71 a share earlier this week after news the company had received approval to exit bankruptcy and complete its planned debt refinancing.

The Davenport-based publisher of 48 newspapers, including the Quad City Times, filed for voluntary bankruptcy December 12, 2011 in order to get a small group of lenders bound to terms of the refinancing.

IUB staff raises red flags about nuclear power plant legislation

on Thu, 01/26/2012 - 02:09   by Editor

The Iowa Utilities Board (IUB) staff has raised several warning flags about legislation sought by MidAmerican Energy to shift the risk of building a new nuclear power plant to utility ratepayers.

In a memo sent to the IUB and state legislators in December, the IUB staff warns that "some of these (bill) provisions could create incentives for the company to engage in behavior that could be contrary to the public interest in certain situations."

To illustrate what might happen, the staff report gives this possible scenario:

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