Business

Business

Bunge fire out; firefighters guard against flareups

DANVILLE – Danville firefighters continued to check for hot spots Tuesday morning following a fire at Bunge Milling Inc., 321 E. North St.

"The initial call came in at 1:43 a.m.," said Deputy Director Bobby Lillard of the Danville Fire Department. "At that time, there were flames on the south side of a long-term storage building for product processed by the company."

Rating services classifies Illinois National Bank as 'problematic'

FAIRMOUNT – A Springfield-based bank that has a branch in the Vermilion County community of Fairmount has received a "2-star" – or "problematic" – rating from BauerFinancial.

Illinois National Bank got the second-lowest rating among 76 banks with a presence in East Central Illinois. It was erroneously omitted from a listing of banks and their ratings that appeared in Sunday's News-Gazette.

Economic downturn yields decrease in area crop prices

URBANA – Uncertainties caused by the nation's recent economic downturn have begun to cause corn and soybean prices to fall in the United States, according to a University of Illinois marketing specialist.

Darrel Good said the current meltdown of the U.S. credit markets, combined with a sharp decline in stock prices, falling housing prices and increased unemployment rates have hurt ag commodity prices.

Academy fund donors agree to split from UI, go independent

The University of Illinois and a group of conservative donors have parted ways.

Founders with the Academy on Capitalism and Limited Government Fund and UI officials announced Monday they would terminate the agreement that created the academy fund and would have provided money for teaching and research on capitalism and limited government.

Finance director wants Champaign to buy its own bonds

CHAMPAIGN – The national credit crunch is starting to squeeze the city.

The interest rate on $1.75 million in variable-interest-rate bonds the city sold in 2004, to help redevelop the old Burnham Hospital site, has jumped from below 4 percent to as high as 9.4 percent.

At the 9.4 percent rate, the city would have to pay an additional $8,000 per month in interest costs. That fact has city Finance Director Richard Schnuer recommending to city council members that they use $1.75 million in city cash reserves to buy their own bonds – which are variable interest, have an indefinite term, are taxable and, as short-term debt, are bought and sold frequently.

Christie announces plans to buy half of Danville surgery center

DANVILLE – Unable to win state approval to build an outpatient surgery center of its own in Champaign, Christie Clinic now hopes to buy half of an existing one in Danville.

The clinic has notified the Illinois Health Facilities Planning Board that it plans to file an application seeking permission to buy about half of Danville HealthCare, an outpatient surgery center at 26 W. Newell Road, Danville.

Christie wants to buy share of Danville surgery center

DANVILLE – Unable to win state approval to build an outpatient surgery center of its own in Champaign, Christie Clinic now hopes to buy half of an existing surgery center in Danville.

The clinic has notified the Illinois Health Facilities Planning Board that it plans to file an application seeking permission to buy about half of Danville HealthCare, an outpatient surgery center at 26 W. Newell Road, Danville.

Burger King franchisee to open store on Philo Road in Urbana

URBANA – The King is coming to Urbana.

Burger King plans to open a restaurant in the former Centrue Bank building on Philo Road, possibly in December, according to Maruti Seth, the franchisee who operates Burger Kings in Danville, Tuscola, Rantoul and Tilton.

Danville Bumper Works plant closing by end of October

DANVILLE – Officials at Flex-N-Gate in Urbana are closing the Danville Bumper Works plant by the end of this month, according to a letter that company officials distributed to employees.

The letter stated that the plant at 647 Section St. will close by Oct. 22 and cited the downturn in the auto industry as the reason. The plant has been downsizing for some time, according to a longtime employee, Larry Thompson, and Vicki Haugen, president and chief executive officer of Vermilion Advantage, the local economic development office.

UI professor wants to help couples balance home, work lives

You've got to finish that work project on deadline.

Pay bills, wash the car, bring a snack to your kid's soccer game, find the dog's leash.

Stressed much?

If this sounds all too familiar, a University of Illinois researcher thinks you may be interested in a project focusing on dual-earner couples.

Angela Wiley, a UI professor of human and community development, focuses on an area of research called family resiliency. She explores ways to improve "the family's ability to remain strong and functional in the midst of stress," she said.