Group to seek state audit of district's levy effort

An ad hoc group of elected officials, citizens and taxpayers within the St. Louis County School District are alleging misconduct by school district officials, board members and Johnson Controls in promoting a vote on a $78.8 million bond issue, and plan to file a citizens petition with the state auditor asking for an investigation of improper use of public funds.

Superintendent Charles Rick had no immediate comment about the allegations.

The complaint alleges that school district officials, board members and consultants from Johnson Controls “engaged in an inaccurate and misleading effort” to promote the bond issue through public presentations and the dissemination of campaign material “that was not only lacking in required neutrality, but contained information that was misleading or inaccurate.”

The group will also ask the state auditor to investigate whether the school district misled Department of Education officials who reviewed the district’s proposal and ultimately issued a favorable recommendation. Group members are concerned that the Review and Comment submission provided to the state by the district contained misleading and inaccurate information about the effects of the district’s school consolidation plan.

Source: Tower Timberjay News

Bankruptcy auction of Philadelphia Newspapers LLC put on hold ...

PHILADELPHIA — A bankruptcy auction of the company that publishes The Philadelphia Inquirer and Philadelphia Daily News has been postponed while creditors appeal a key ruling.

The auction of Philadelphia Newspapers LLC was put on hold Tuesday when the U.S. Third Circuit Court of Appeals agreed to hear the creditors’ appeal on Dec. 15.

The court will decide whether to uphold a decision preventing creditors from using the $318 million in debt owed to them as part of a bid. A federal judge ruled earlier this month they must bid in cash.

The current owners are in bankruptcy trying to shed $400 million in debt . Some original investors are in the local group posting an auction bid of $37 million.

The bid, along with the $30 million headquarters building, would give senior lenders 22 cents on the dollar.

Grupo Mexico wins back copper mining unit AsarcoA Texas judge has issued final approval of Grupo Mexico SAB's plan to regain control of copper miner Asarco LLC, ending a lengthy takeover battle with rival suitor Sterlite Industries. The Mexico City-based conglomerate said Sunday that U.S.

Locals wage late-stage battle to keep Philadelphia Newspapers as bankruptcy auction looms

Owners fight credit bid in Philly newspaper salePHILADELPHIA — The owners of Philadelphia's two major dailies are waging a late-stage battle to keep the newspapers from creditors in a looming bankruptcy auction. Under a key ruling in the case, senior lenders have the right to use the $300 million owed them to win The Philadelphia Inquirer and Philadelphia Daily News at the Nov.

Local group boosts bid for Philadelphia Inquirer, Daily News to $87M; auction next month

Locals raise bid for Philadelphia papers to $87MPHILADELPHIA — A local group sweetened its bid for The Philadelphia Inquirer and Philadelphia Daily News on Wednesday, saying it would pay another $20 million over five years in addition to the $67 million in cash and real estate that it has previously offered. The group includes Toll Bros.

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