Military charity getting $1 million from Jimmy John's

Military charity getting $1 million from Jimmy John's

A roundup of business news

CHAMPAIGN — Jimmy John's Gourmet Sandwiches will make a $1 million donation to the Folds of Honor Foundation, the Champaign-based company announced Tuesday.

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The foundation, based in Owasso, Okla., provides scholarships and assistance to children and spouses of military members who are killed or disabled.

The donation will be made Sept. 13 at the Jimmy John's Freaky Fast 300 at Chicagoland Speedway.

"Through the stars aligning and a gentleman's handshake, we are honored to support Folds of Honor," said Jimmy John Liautaud, CEO and founder of Jimmy John's.

Folds of Honor was founded in May 2007 by Maj. Dan Rooney, a former F-16 fighter pilot in the Oklahoma Air National Guard and Professional Golfers' Association of America pro. Over the last seven years, the foundation has awarded nearly 5,500 educational scholarships to military families.

Jimmy John's was named title sponsor for the Sept. 13 NASCAR race earlier this year. The company's sponsored driver, Kevin Harvick, will drive the Freaky Fast No. 5 Jimmy John's Chevrolet co-branded with Folds of Honor.

Electronics recycling event set Saturday

CHAMPAIGN — Good Vibes and Bryant Industries will host an electronics recycling event from 10 a.m. to 1 p.m. Saturday on the parking lot of Good Vibes, 1501 N. Prospect Ave., C.

To offset costs, there will be a $10 cash charge per vehicle, but Good Vibes will also issue $10 coupons that can be redeemed at the store toward the purchase of new electronic equipment.

TVs, stereos, VCRs, computers, microwaves and treadmills will be among the items accepted. However, the drive will not accept major appliances, batteries or wood-framed items.

The recycling event will take only items from residential customers. It will also not accept trailer loads of goods.

Staff will collect items at the drive-through, drop-off event. For more details, call Good Vibes at 351-0909.

Enventis/Consolidated Communications merger expected to close late this year

MATTOON — The merger of Enventis Corp. with Mattoon-based Consolidated Communications Holdings is expected to close in the fourth quarter of this year, the companies announced.

Under the proposed merger, Consolidated would acquire all Enventis stock in a transaction valued at close to $350 million. Both companies' boards have approved a definitive agreement for the merger.

Enventis, based in Mankato, Minn. provides telecommunications services in Minnesota, Iowa, North Dakota, South Dakota and Wisconsin. The company, which has a 4,200-mile fiber network, serves about 39,000 access lines, 21,000 high-speed Internet customers and 12,000 digital TV customers.

"We found the company to be an excellent complement to our Illinois, Pennsylvania, Texas, Kansas, (Missouri) and California operations and are extremely pleased this has resulted in a successful agreement," Consolidated said in a statement.

"The combination and additional markets creates a broader platform from which to grow and expand," said Consolidated CEO Bob Currey.

Consolidated said it will operate in the 11 states as one company, and no decision has been finalized on the brand.

Enventis has more than 500 employees and gets about 80 percent of revenue from business and broadband services. Both companies trade their stock on the Nasdaq exchange — Consolidated under the CNSL symbol and Enventis under the ENVE symbol.

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