Tickers: April 13
The New York Times reported yesterday that the U.S. Treasury Department has directed General Motors Corp. to lay the groundwork for a bankruptcy filing by June 1, even though the automaker has publicly stated it could reorganize outside of court. The newspaper said the preparations would assure that a bankruptcy filing is ready for GM if it is unable to reach an agreement with bondholders. One plan that is being considered would create a new company that would buy the “good” assets of the troubled carmaker after it files for bankruptcy, the Times said.
The Polk County Board of Supervisors will host a town hall meeting on Thursday, April 16 at 6 p.m., at the Polk County River Place, 2309 Euclid Ave., to provide information and receive input regarding a possible expansion of the meeting and ballroom space at the Iowa Events Center. The Polk County Convention Complex (the Plex) is in need of up to $20 million in renovation and repairs. On March 11, RDG architects presented two concepts for an expansion within Veterans Memorial Auditorium. The meeting will provide information on the proposed concepts.
Terra Industries Inc., a Sioux City-based agricultural products company, will hold its quarterly conference call on Tuesday, April 21, at 2 p.m. Iowa time. Company President and CEO Michael Bennett and Chief Financial Officer Dan Greenwell will discuss Terra’s first quarter results and outlook. A webcast of the call will be available on Terra Industries’ Web site, www.terraindustries.com, and interested parties can listen to the call at www.earnings.com.
Express Scripts, one of the largest pharmacy benefits managers in the United States, has agreed to buy WellPoint’s pharmacy benefits management business for $4.68 billion, the companies announced this morning. Express Scripts will gain 25 million members through the acquisition of WellPoint’s NextRx units, which manage more than 265 million prescriptions each year, CNNMoney reported. After the acquisition, which is expected to close in the second half of 2009, Express Scripts said it will manage 750 million prescriptions a year.
The Des Moines Women’s Club is seeking artist entries for its 13th annual Art-A-Fair, which will be held Sunday, July 26 from 10 a.m. to 4 p.m. on the lawn at Hoyt Sherman Place, 1501 Woodland Ave. The early bird registration deadline is May 1 and the final entry deadline is June 19. Entry forms are available by calling (515)244-0507 or by sending an e-mail to firstname.lastname@example.org. Applications can also be found online at www.desmoineswomensclub.org/events.