Stench chokes Nebraska meatpacking towns

Article Abstract:

IBP Inc of Dakota Dunes, SD, formerly known as Iowa Meat Processors Inc, faces a lawsuit filed by the Dept of Justice on Jan 12, 2000. The lawsuit alleges that IBP is violating federal air, water and hazardous waste laws by emitting up to 1,800 lbs of hydrogen sulfide a day at the firm's plant in Dakota city. The lawsuit also accuses IBP of exceeding the federal Clean Water Act by dumping ammonia into the Missouri River since 1988. IBP is the largest meat processor in the world.

Government regulation, Meat Processed from Carcasses, Prepared Beef, Tyson Fresh Meats Inc.

---

Trust bank has long history of angry investors; criminal probe raises questions about oversight

Article Abstract:

Grant Seeger of Security Trust lost his aunt's money on poor investments. Edward Stern was assisted by Security Trust in after-hours investments. Security Trust and many mutual funds are now being examined for lack of oversight.

Legal issues & crime, Investment Offices, Mutual Fund Mgmt Companies, Portfolio Management, Legal/Government Regulation, Trusts, Funds, Trusts, and Other Financial Vehicles, Company legal issue, Cases, Mutual funds, Trusts and trustees, Trustees, Trusts (Law), Security Trust

---

Vesta: profits were bloated by $59M

Article Abstract:

Vesta Insurance of Alabama reported that it would restate its financial statements covering its four years as a public company and erase $58.8 million in profits, following an internal investigation of the its accounting practices. Vesta likewise reported that its chief executive Robert Huffman had resigned on June 1, 1998. The insurer will take back 30% of its reported profits from 1993 to present, including the $9.8 million earnings in the first quarter of 1998. Alabama Insurance Department General Counsel Mike Bownes, however, gave the assurance that Vesta's reversals do not mean the company is insolvent. Vesta provides backup coverage for insurers that specialize in low-end housing and automobile drivers with checkered histories.

Comment:

Reports that it would restate its financial statements covering its 4 years as a public company & erase $58.8 mil in profits

Sales, profits & dividends, Property & Liability Insurance, Direct Property and Casualty Insurance Carriers, Property and casualty insurance, Vesta Insurance Group Inc., Article

Similar abstracts:

• Abstracts: Hassles stand in way of progress. Power problem too aggravating to bother with. Firms consider lawsuits against pushy Y2K consultants
• Abstracts: Barrick bets on Pierina mine for major gold production boost. Barrick says it pursued Bre-X till the end
• Abstracts: Microsoft leans creatively on levers of political power. Prescription imports get big approval. Drug benefit plan gains momentum
• Abstracts: Bevy of deals bring businesses together online. Foreign connections confuse steel fight. Firms battle over altered food

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.