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Anger over Cash Converters leaflet in Bolton Council's newspaper

Anger over Cash Converters leaflet in Bolton Council’s newspaper

Cllr Roger Hayes with the council newsletter Bolton Scene and the Cash Converters leaflet

THE delivery of a Cash Converters leaflet at the same time as Bolton Council’s newspaper has been branded “unacceptable”.

Cllr Roger Hayes has raised concerns vulnerable people in Smithills would have received the leaflet with the Bolton Scene — and inadvertently thought Bolton Council was endorsing the company, which is a pawnbroking franchise firm, as well as a retail store.

A council spokesman said it was investigating how it had happened.

Cllr Hayes, of Park Cottages, Smithills, noticed the Cash Converters advertisement reading: “Looking For A Little Loan – Look No Further” was pushed through his door at the same time as the newsletter.

Bolton’s Liberal Democrats leader said: “I understand the council pays a premium for the Bolton Scene to be delivered to residents as a solo delivery.

“It’s very concerning. For somebody who doesn’t know, they might think the council was recommending Cash Converters. They were the only two things that came together through my letterbox that day.

“It’s associating the council with a company that I don’t think it wants to be associated with.”

The council blocked access to payday loan websites from public computers in August last year, and has dedicated £1 million to tackle poverty in the town, including measures to stop people going to the companies which charge huge amounts of interest.

A council spokesman said the two publications should not have been delivered together.

He added the council had not received anothercomplaint about Bolton Scene being delivered alongside a Cash Converters leaflet.

The spokesman said: “The contract for the delivery of Bolton Scene is for sole delivery independent of other materials.

“The delivery of the leaflet was not authorised by the council and we were first made aware of this when Cllr Hayes asked if the council newspaper is delivered on its own.

“We have spoken to the distribution company to make sure it doesn’t happen again.”

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Man's ID is used to obtain $750 from a fast cash loan facility: Bainbridge Blotter

BAINBRIDGE TOWNSHIP, Ohio – Fraud, Abbey Road – Someone used a Bainbridge man’s information to obtain $750 from a fast cash loan facility. A second attempt was made at another facility, but was stopped.


The victim filed a report June 23. He believes this is related to an incident earlier this year when someone used his credit card numbers for fraudulent purposes.

Assist Fire Department, Geauga Lake Road – A shed caught on fire causing a tractor inside it to explode and set fire to stored fuel 1:43 p.m. June 23.
The shed was located next to a garage and pole barn, with the home 15-20 feet away. The garage siding was melting when officers arrived.

Traffic was halted at Pettibone Road and tanker trucks arrived from Auburn and Russell to assist Bainbridge firefighters. The fire was brought under control 20 minutes after the call was initiated, and the road was reopened at 2:55 p.m. No injuries were noted.

Information, Stafford Road – After purchasing $269 in steak and chicken from a door-to-door salesman, June 23, a woman saw that the meat was of poor quality. She stopped payment on the check she wrote and contacted police.

Theft, Elizabeth Lane – A South Riverside Drive male faces charges for stealing a man’s ATV from his shed sometime between June 17 and 19.

The ATV owner reported on June 19 that his $7,000 Honda ATV was taken from an unlocked shed. He said the keys were in the vehicle. He last saw the vehicle on June 17.

Officers traced the vehicle to the back of the South Riverside Drive property and obtained permission from the subject’s grandmother to search the premises. The ATV was found, identified and returned to the owner.

Information, Squires Road – After cell phones were stolen from her son and his friend 8:47 p.m. June 24 at Wildwater Kingdom, a woman contacted police and met officers at the gate. She told them she believed the phones and the culprit were still in the park.

Park security found the phones in a trash can.

Animal Complaint, Depot Street – A turtle in the road 4:41 p.m. June 22 stopped traffic until an officer arrived to remove it and guide it into a wooded area.


Park Electrochemical Corp. Announces Special Cash Dividend


Park Electrochemical Corp. (PKE) announced that its Board of Directors has declared a special cash dividend of $2.50 per share payable February 25, 2014 to shareholders of record at the close of business on February 11, 2014. The Company intends to finance this special cash dividend in the total amount of approximately $52 million with bank financing or with its available cash.

Although the Company has not made any decision at this time to repatriate any funds owned by its foreign subsidiaries, the Company plans to record a charge at the end of its current fiscal year ending March 2, 2014 related to the U.S. income tax which would be payable to repatriate foreign owned funds in an after-tax amount necessary to repay its existing $52 million principal amount bank loan from PNC Bank and to pay for the special dividend announced in this news release or to repay any additional loan financing put in place by the Company to pay for such special dividend. At December 1, 2013, the end of the Company’s 2013 fiscal year third quarter, the Company had approximately $291 million of cash and marketable securities, approximately $235 million of which was owned by certain of the Company’s wholly owned foreign subsidiaries.

The Company has retained BofA Merrill Lynch to provide financial advisory services to the Company regarding the special dividend and related matters.

Certain portions of this news release may be deemed to constitute forward looking statements that are subject to various factors which could cause actual results to differ materially from Park’s expectations. Such factors include, but are not limited to, general conditions in the electronics and aerospace industries, Park’s competitive position, the status of Park’s relationships with its customers, economic conditions in international markets, the cost and availability of raw materials, transportation and utilities, and the various factors set forth in Item 1A “Risk Factors” and under the caption “Factors That May Affect Future Results” after Item 7 of Park’s Annual Report on Form 10-K for the fiscal year ended March 3, 2013.

Park Electrochemical Corp. is a global advanced materials company which develops and manufactures high-technology digital and RF/microwave printed circuit materials principally for the telecommunications and internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies for the aerospace markets. Park’s core capabilities are in the areas of polymer chemistry formulation and coating technology. The Company’s manufacturing facilities are located in Singapore, France, Kansas, Arizona and California. The Company also maintains R & D facilities in Arizona, Kansas and Singapore.

Additional corporate information is available on the Company’s web site at

FinanceInvestment & Company Information Contact:

Park Electrochemical Corp.
Martina Bar Kochva, 631-465-3600


Elizabethton council votes to give $160,000 to city golf course

ELIZABETHTON The Elizabethton City Council voted 7-1 on Thursday night to provide the Elizabethton Golf Course with $160,000 to cover cash flow problems at the recreational facility. The measure will require a public hearing and second reading at next months meeting.

The cash flow problems were uncovered during a recent audit. Among the problems was the discovery of unpaid payroll taxes. It was estimated that at least $160,000 would be needed to keep operations going at the golf course.

Prior to Thursday nights meeting, there had been a plan for the city to loan the $160,000 to the golf course, with the loan paid back over a period of five years at 2.19 percent interest. Interim City Manager Jerome Kitchens said that plan was rejected by the state comptroller.

Kitchens told the council the comptroller said a loan was only allowed when its payback came in the same fiscal year.

Even though the loan was not allowed, Kitchens said the liabilities of the golf course were ultimately the citys liabilities. He said the golf course needed cash as soon as possible to pay the debts. He said the councils only option was to take the $160,000 from the citys unrestricted fund balance to provide funds for the golf course. He said the council needed to follow up with conditions to ensure better financial controls would be set in place.

Two council members, Richard Tester and Bob Cable, suggested establishing oversight committees to keep an eye on the golf course reforms. No action was taken, but two boards will be holding meetings during the next month that will address the problem. One is the Golf Course Board and the other is the Park and Recreation Board.

Most of the council members said they had little choice but to vote for the cash infusion, but Nancy Alsup cast the lone dissenting vote. She said she voted against the proposal because the only time we ever hear from the golf course is when they want money.

In other matters, the council unanimously approved the second and final reading of an ordnance to grant the Carter County Rescue Squad an exclusive franchise for ground ambulance and rescue services for a term of four years.

The council also approved a resolution to obtain $250,000 in capital outlay notes to obtain a new garbage truck. The loan would be paid off in five years. Interest rates are expected to be in the 2 or 3 percent range.

Mayor Curt Alexander reminded the audience that the deadline for applying for one of the citys liquor store permits is 5 p.m. Jan. 18. He said a called meeting of the council will be held Jan. 31 to decide which applicants will be approved.


Park National Corporation Declares $0.94 Quarterly Cash Dividend and Provides Update About Quarterly Earnings Report

NEWARK, Ohio, Oct. 16, 2012 (GLOBE NEWSWIRE) — Park National Corporation’s (Park) (NYSE Amex:PRK) Board of Directors today declared a $0.94 per common share quarterly cash dividend, payable on December 7, 2012 to common shareholders of record as of November 23, 2012. The board also reported it plans to announce financial results for the third quarter ended September 30, 2012 on October 29, 2012.

Today, management reviewed with the Board of Directors details pertaining to a loan relationship that may require the recording of a charge-off of up to $13.0 million (and corresponding loan loss provision). If the full charge-off (and loan loss provision) of $13.0 million were to be recorded, diluted earnings per common share are expected to be $0.78 for the third quarter of 2012 and $3.82 for the nine months ended September 30, 2012. If no charge-off (or loan loss provision) were required to be recorded for this specific loan relationship, diluted earnings per common share for the third quarter and first nine months of 2012 are expected to be $1.33 and $4.37, respectively. Management is working to gain additional information regarding this specific loan relationship prior to releasing earnings for the periods ended September 30, 2012.

Headquartered in Newark, Ohio, Park National Corporation has $6.7 billion in total assets (as of June 30, 2012). Park consists of 11 community bank divisions, a non-bank subsidiary and two specialty finance companies. Park’s Ohio-based banking operations are conducted through Park subsidiary The Park National Bank and its divisions which include Fairfield National Bank Division, Richland Bank Division, Century National Bank Division, First-Knox National Bank Division, Farmers Bank Division, United Bank Division, Second National Bank Division, Security National Bank Division, Unity National Bank Division and The Park National Bank of Southwest Ohio & Northern Kentucky Division, and its subsidiary Scope Leasing, Inc. (d.b.a. Scope Aircraft Finance). Park’s other operating subsidiaries include Guardian Financial Services Company (d.b.a. Guardian Finance Company) and SE Property Holdings, LLC.


Park cautions that any forward-looking statements contained in this news release or made by management of Park are provided to assist in the understanding of anticipated future financial performance. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance. The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation: deterioration in the asset value of Park’s loan portfolio may be worse than expected due to a number of factors, such as adverse changes in economic conditions that impair the ability of borrowers to repay their loans, the underlying value of the collateral could prove less valuable than assumed and cash flows may be worse than expected; Park’s ability to sell OREO properties at prices as favorable as anticipated; Park’s ability to execute its business plan successfully and within the expected timeframe; general economic and financial market conditions, and weakening in the economy, specifically the real estate market and credit market, either nationally or in the states in which Park and its subsidiaries do business, may be worse than expected which could decrease the demand for loan, deposit and other financial services and increase loan delinquencies and defaults; changes in interest rates and prices may adversely impact the value of securities, loans, deposits and other financial instruments and the interest rate sensitivity of our consolidated balance sheet; changes in consumer spending, borrowing and saving habits; our liquidity requirements could be adversely affected by changes in our assets and liabilities; competitive factors among financial institutions increase significantly, including product and pricing pressures and our ability to attract, develop and retain qualified bank professionals; the nature, timing and effect of changes in banking regulations or other regulatory or legislative requirements affecting the respective businesses of Park and its subsidiaries, including changes in laws and regulations concerning taxes, accounting, banking, securities and other aspects of the financial services industry, specifically the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the “Dodd-Frank Act”), as well as future regulations which will be adopted by the relevant regulatory agencies, including the Consumer Financial Protection Bureau, the SEC and NYSE MKT LLC, to implement the Dodd-Frank Act’s provisions; the effect of changes in accounting policies and practices, as may be adopted by the Financial Accounting Standards Board, the SEC, the Public Company Accounting Oversight Board and other regulatory agencies, and the accuracy of our assumptions and estimates used to prepare our financial statements; the effect of fiscal and governmental policies of the United States federal government; adequacy of our risk management program; a failure in or breach of our operational or security systems or infrastructure, or those of our third-party vendors and other service providers, including as a result of cyber attacks; demand for loans in the respective market areas served by Park and its subsidiaries; and other risk factors relating to the banking industry as detailed from time to time in Park’s reports filed with the Securities and Exchange Commission including those described in “Item 1A. Risk Factors” of Part I of Park’s Annual Report on Form 10-K for the fiscal year ended December 31, 2011 and in “Item 1A. Risk Factors” of Part II of Park’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2012. Undue reliance should not be placed on the forward-looking statements, which speak only as of the date hereof. Park does not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions that may be made to update any forward-looking statement to reflect the events or circumstances after the date on which the forward-looking statement is made, or reflect the occurrence of unanticipated events, except to the extent required by law.


Media contacts:
Bethany Lewis, 740.349.0421,
or John Kozak, 740.349.3792


Man sentenced to 30 years for Loves Park armed robbery


EmailShare|PrintPhillip MerrittLOVES PARK (WREX) –

A 60-year-old man has been sentenced to thirty years in prison for robbing a Cash Loan Store in Loves Park in 2009.

The robbery occurred on September 25 at the Cash Loan Store on North Second Street. Police say that Phillip Merritt entered the store, asked about a loan, and then pulled out what a store employee believed was a handgun before demanding money. The employee handed over cash from the store’s register and the suspect left.

The next day the Title Cash Store in Loves Park was robbed by a person matching the description of the suspect who robbed the Cash Loan Store. Phillip Merritt was chosen out of a photo lineup on September 28 by the victim as the man who also committed the September 25 robbery. Merritt was previously found guilty of the Title Cash Store robbery and sentenced to 30 years in prison for that crime.

On July 18, 2012, it was announced that Merritt was sentenced to an additional 30 years in prison for the September 25 robbery. The two sentences will run consecutively for a total of 60 years.

Merritt’s prior criminal history made him eligible for Class X sentencing.


Cash-strapped Jungle Island falls short in bid for expansion on Miami’s Watson Island

After asking the city of Miami to forgive its debts and expand its footprint on Watson Island, Jungle Island is standing down.

On Wednesday, the tourist attraction said it will cough up a pending $2 million loan payment and is ending negotiations with the city — for now, anyway.

“Jungle Island has made the decision to put its expansion plans on hold and reconsider our options for the future at this time,” park officials wrote in a statement.

Commission Vice Chairman Marc Sarnoff said the aviary attraction is simply reading the tea leaves.

“They see there is no stomach for any further concessions,” he said.

In the statement, Jungle Island officials said they plan to “meet obligations,” the most pressing of which is the $2 million payment on a federal loan due in August.

Last month, owner Bern Levine had said the cash-strapped park couldn’t afford the payment, but that an unnamed investor would cut the check if Jungle Island got an additional 13.45 acres of waterfront property to add a hotel, restaurants and retail. Otherwise, the city and the county would have been on the hook as the loan’s guarantors.

But city officials played hardball. Mayor Tomás Regalado balked at Levine’s initial suggestion that the city make the August loan payment. Instead, he insisted that Jungle Island pony up the funds.

Under the best of circumstances, the struggling business’ proposal was far from popular.

The iconic zoological park and banquet hall has been bleeding money since its 1997 move from Pinecrest to Watson Island, and has failed to follow through on a number of promises to city officials. All told, Jungle Island owes more than $26 million to the city and county, which have made most of the payments on the federal loan. The city also loaned the business $800,000 to help it pay back taxes in 2009.

In addition, the park has not been able to pay rent on its city-owned property in more than three years.

In interviews with The Miami Herald, Regalado called Jungle Island “a bad deal” and “a story of broken promises.”

Levine said his latest proposal would take taxpayers off the hook because the outside investor would pay off the $15 million remaining on the federal loan. Levine was also asking Miami and Miami-Dade County to forgive the attraction’s debt in exchange for a portion of profits moving forward.

The park owner promised his new investor would generate profits by deploying a dramatically different business plan.

But city commissioners have been skeptical. And despite repeated requests, Levine decline to name the investor or elaborate on plans for the new-and-improved Jungle Island.

The attraction and the city spent weeks trying to reach a deal. Jungle Island exerted significant pressure on the city, saying commissioners needed to decide the matter this month to give voters a chance to weigh in on a ballot question in November.

In the end, the city stood firm — and the business blinked.

“There were too many unknowns,” City Manager Johnny Martinez said.

Jungle Island lobbyist Brian May said Levine and his business partner Ron Krongold are doing “their very best” to make the August payment.

“They are working on it night and day,” May said.

He said Jungle Island officials will come back to the city when they have more definitive plans for the park’s future.

Commissioner Willy Gort said Jungle Island made a smart move.

“This gives them more time to come up with a plan and maybe become profitable,” he said.

Gort said he had little sympathy for the park. “Past administrations had given them so many breaks,” he said.

Martinez, the city manager, has concerns about Jungle Island’s ability to make the upcoming payment. But he still sees promise in the park.

“We want them to stay. We want them to be an attraction,” he said. “We also want them to live up to the terms of their lease.”


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Compass Minerals Lowers Interest Expense Through New Term Loan


Compass Minerals (NYSE:CMPNews) has amended and restated its senior secured credit facility and refinanced its three senior secured term loan tranches into a single new term loan. The new $387 million term loan carries an interest rate of 1.75 percent over LIBOR, which will reduce the company’s interest expense by approximately $2 million per year, and extends the company’s average bank debt maturity by approximately 30 months to 2017.

“Compass Minerals’ portfolio of resilient businesses consistently generates strong cash flow that facilitates our access to low-cost capital,” said Jamie Standen, Compass Minerals treasurer. “Not only does this refinancing extend the maturity of our debt and thereby improve our capital structure, it will also lower our cost of borrowing going forward.”

Earlier this month, both Moody’s Investors Service and Standard & Poor’s affirmed the company’s Corporate Family Ratings of Ba1 and BB+ respectively. Both rating agencies maintain a stable outlook.

About Compass Minerals

Based in the Kansas City metropolitan area, Compass Minerals is a leading producer of minerals, including salt, sulfate of potash specialty fertilizer and magnesium chloride. The company provides highway deicing salt to customers in North America and the United Kingdom and specialty fertilizer to growers worldwide. Compass Minerals also produces consumer deicing and water conditioning products, ingredients used in consumer and commercial foods, and other mineral-based products for consumer, agricultural and industrial applications. Compass Minerals also provides records management services to businesses throughout the U.K. For more information, visit

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the company’s current expectations and involve risks and uncertainties that could cause the company’s actual results to differ materially. The differences could be caused by a number of factors including those factors identified in the “Risk Factors” sections of our Annual and Quarterly Reports on Forms 10-K and 10-Q. The company undertakes no obligation to update any forward-looking statements made in this press release to reflect future events or developments.


Compass Minerals
Peggy Landon, 913-344-9315
Director of Investor Relations and Corporate Communications