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Legal representatives for area construction companies currently holding mechanic liens on leases between Itasca County and Magnetation were on hand to offer their perspective on arrangements with new ownership. According to Minneapolis attorney Aaron Dean who represents five of the contractors with claims against the leases for unpaid compensation on construction of Plant 4, a Memorandum of Understanding between the parties positions his clients in such a way that they would receive nearly half of what they are owed at the initial investment. On Tuesday, Dean introduced commissioners to Mike Luther, owner of FerroMagnetica, LLC, and a would-be major investor in the Magnetation purchase. I am here to plead for the future of this company, started Luther who explained that he has been interested in investing in Magnetation for about a year. Luther described himself as an accountant by training, who has made a profession of investing in distressed companies for the past 25 years. With iron ore prices currently improving, Luther said good news is in store for Magnetation. We have a lot of wind at our backs, he said. Luther called Plant 4 in Grand Rapids one of the lowest-cost concentrator producers in America, and a very, very good asset. If he had his way, Luther said he would have Plant 4 back online in January or February. There is no reason this plant shouldnt be open today, added Luther who claimed that he has been in contact with people who are interested in buying Magnetation product. Luther also had compliments for the mechanic lien holders, the little guys who built this plant, who he said I think can get paid back quickly and fully. Poised to get the ball rolling, Luther said, My group is committed to investing $30 million post sale closing with more capital committed. Bringing up the countys liabilities with the liens on the leases, Commissioner Terry Snyder asked how the prospective buyers would work to eliminate this risk to taxpayers. Dean recapped the boards action on Monday regarding a motion of objection on the bankruptcy sale order.
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A year ago, Tiger Woods and Phil Mickelson sat my website across from each other in a mock game of Chinese checkers to kick off the festivities in this final World Golf Championship. Drop in ranking doesn’t alter Woods’ approach toward trying to win again By Doug Ferguson No longer No. 1 in the world, Tiger Woods said Wednesday that hasnt changed how he sees himself or what hes trying to do at the HSBC Champions. I come http://www.theactproject.com/consultantinterviewprep/2016/12/15/whats-necessary-for-valuable-medical-student-secrets/ to the event to win the event, Woods said. I havent won an event in about a year. Ive gone through periods like this before in the past. By T.J. Auclair, Interactive Producer The midterm elections might be in the books, but that didn’t stop PGA.com from asking our Facebook fans to place one more vote. Tuesday, November 02, 2010 Battle for No. 1 ranking among top players might not be settled very soon By Doug Ferguson The first encounter between Lee Westwood and Tiger Woods since they switched spots at the top of the world ranking was not exactly the momentous occasion some thought it might be.
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