Business

Business

Cleanup to begin soon at former coal-gasification plant site

CHAMPAIGN – The cleanup of a former coal-gasification plant site at Fifth and Hill streets should begin early next month and is expected to take about a year to complete.

But a neighborhood group that represents residents who live near the north Champaign site said it doesn't think the cleanup plan goes far enough to deal with contaminated groundwater and vapors leaving the site.

Campustown business owners didn't notice any major problems

CHAMPAIGN – Anne Johnston, owner of a Campustown flower shop for years, said she spent Friday and Saturday watching young people on Green Street as she usually does for Unofficial St. Patrick's Day.

"They were pretty good, really," Johnston said. "I was really impressed."

Busey Bank's parent company sells stock to Treasury

URBANA – Busey Bank's parent company has sold $100 million of preferred stock to the U.S. Department of the Treasury through its Capital Purchase Program.

Urbana-based First Busey Corp. on Friday issued the Treasury 100,000 shares of preferred stock and a warrant to buy up to 1,147,666 shares of First Busey common stock at an exercise price of $13.07 a share.

Pension group director speaks about retirement strategies

CHAMPAIGN – To accommodate folks living longer, the United States must "get people to save more, work longer and retire less," a noted expert on retirement income said.

Fewer than a third of people have figured out how much they need to save for retirement, said Olivia Mitchell, director of the Pension Research Council at the University of Pennsylvania's Wharton School of Business.

Rantoul actively marketing ex-Meadowbrook Farms plant

RANTOUL – Rantoul's economic development director said the village will work aggressively to find another pork company to move into the Meadowbrook Farms pork processing plant.

The board of directors for Meadowbrook Farms voted last week to enter bankruptcy and to liquidate the cooperative, which has more than 100 members and hog suppliers.

Monticello council clears way for Kirby Hospital campus

MONTICELLO – The Monticello City Council put its final stamp of approval on the John and Mary E. Kirby Hospital subdivision, unanimously approving the final plat for the new hospital on Monday.

The plat approves two lots, next to Rick Ridings auto dealership on Illinois 47, to serve as home for the 23-acre hospital campus.

Urbana landmark Embassy Tavern closing at end of month

URBANA – The Embassy Tavern, a fixture in downtown Urbana for live music and hamburgers, will close at the end of the month.

Operator Ross Veach said the business was not making money, and he has notified his employees of the pending closure. Veach has been operating the bar since May 2007. The space at 114 S. Race St., however, has long been home to a tavern.

Merchants: Unofficial 'pretty sane this year'

CHAMPAIGN – Anne Johnston, owner of a Campustown flower shop for years, said she spent Friday and Saturday watching young people on Green Street as she usually does for Unofficial St. Patrick's Day.

"They were pretty good, really," Johnston said. "I was really impressed."

Baltimore Aircoil's closure would make big waves in Paxton

PAXTON – The expected closure of Paxton's largest employer, Baltimore Aircoil, could have a far-reaching impact, affecting everything from the town's only grocery store to its gas stations, school system and real estate.

"It's really going to hit Ford County hard," said Royce Baier, chairman of the Paxton Area Chamber of Commerce's economic development committee.

Three area counties among best in state in crop production

Spring flooding and a late planting season didn't keep three area counties from being among the state leaders in soybean and corn production for 2008.