Southwest Missouri News

Branson

City pursues Branson Landing

Branson city officials are continuing negotiations with Branson Landing LLC and other developers regarding the development agreement, according to a press release from the city of Branson.

This agreement would name the selected developer as the principal developer of the public and private portion of the project.

The city continues to work with the U.S. Army Corps of Engineers on a 404 permit application submitted by city architects and engineers.

The study examines the effects of the development on the surrounding environment and on water quality of Lake Taneycomo. Corps approval is expected in May.

The city also is continuing its efforts to convince the Missouri legislature to designate the Branson Landing development as a state tax increment financing district, which would allow the city to capture state sales tax money to finance the project.

Lakefront property assembled for Branson Landing is now being secured in preparation for the liquidation of buildings, equipment and fixtures later this spring.

Duenweg

Monett banker buys Trism

Monett banker Glenn Garrett has purchased Trism Inc. and plans to move its corporate headquarters to Joplin and operate the business under its former name of Tri-State Motor Transit.

The primary focus of the 71-year-old trucking company will remain the same hauling explosives, radioactive and hazardous waste, nuclear fuel and oversized products.

The U.S. departments of Defense and Energy are among Tri-State's largest customers.

Tri-State employs 700 to 800 drivers. The company has about 400 trucks, and the operators own an additional 50.

Tri-State will now be a privately held company.

Joplin

Mercy holds fund raiser in March

Tickets are currently on sale for the 18th annual "St. John's Blast from the Past," scheduled for March 15-16 and March 22-23 at the John Q. Hammons Trade and Convention Center in Joplin.

Presented by the Mercy Regional Health Foundation, this year's floor show will feature a tribute to the men and women of the armed forces, dance and lip sync competitions and classic rock and roll routines.

Southern Union earnings flat

Southern Union Co., the parent company of Missouri Gas Energy, recently reported flat second-quarter earnings and said earnings are down for the first six months of the company's fiscal year. MGE provides natural gas to Joplin residents and a half-million other customers in Missouri.

Net earnings for the second quarter, which ended Dec. 31, came to $19.75 million, or 37 cents per share. That compares with earnings of $19.3 million, or 35 cents per share, for the same period one year ago.

The company reported a net loss of $10.6 million for the first six months, or 21 cents per share, compared with net earnings of $5.3 million, or 10 cents per share, for the same period one year earlier.

In a prepared statement, Southern Union said it has cut operating and maintenance expenses, but it added that re-sults were hurt "by unusually mild weather throughout all of the company's service territories."

The company also posted a charge to earnings of more than $20.3 million in the first quarter for restructuring costs. That plan included voluntary early retirement for 400 people, and job cuts at the company's Kansas City office and Aus-tin, Texas, headquarters.

Operating revenue for the second quarter came to $376.4 million, compared with $605.3 million for the same quarter a year ago.

Revenue for the first six months came to $550.4 million, compared with $749.8 million for the same period in 2000.

The last two quarters reflect an in-crease in the monthly customer charge and monthly energy charge, or delivery fee, for Joplin residents and other MGE customers.

Those higher charges about $18 to $20 a year for the typical customer took effect in August. They are expected to generate an additional $10 million in annual revenue for the company.

MGE recently announced a decrease of about 9 percent in natural-gas rates through the rest of the winter.

That was the result of mild weather and large stockpiles.

That reduction was on the wholesale price of natural gas, which is passed along by MGE.

The company makes its revenue from the monthly customer charge and energy charge, and none on the wholesale gas cost.

The decline in the wholesale price is expected to save a typical customer $20 through February and March. New rates will be set in April.

Monett

Hydro Aluminum forms corporation

Hydro Aluminum Wells and Hydro Aluminum Metal Products North Amer-ica have joined together to form a new corporation Hydro Aluminum North America.

Hydro Aluminum has headquarters in Baltimore and operations in Monett and Cassville.