Cedar Falls News
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Corn futures fell, capping a second weekly loss, on expectations for higher global output as U.S. farmers prepare to plant a record crop amid forecasts for drier weather in the Midwest. Wheat slid, while soybeans rose.
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Soybean futures fell for the first time in four days on speculation that dwindling U.S. supplies will curb processing activities and increase imports from South America. Corn and wheat rose.
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Peregrine Financial Group Inc. employees gathered for their annual holiday party at the River East Art Center, overlooking the Chicago River. After enjoying appetizers and an open bar, they heard the kind of somber note you don’t expect from the boss at such a fete: Even businesses that get off to a good start aren’t guaranteed to last.
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Peregrine Financial Group Inc.’s Chapter 7 trustee won court approval to create three classes of firm commodity customers, a ruling that he said may lead to full repayment for one class of account holders.
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Peregrine Financial Group Inc.’s $20 million corporate headquarters and its 22-acre Cedar Falls, Iowa, site can put up for sale, a federal judge said.
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Russell Wasendorf Sr. gave Cedar Falls, Iowa, a boost in 2009 when he moved his futures brokerage to a wooded area of town. The firm’s collapse, after he confessed to pilfering at least $100 million, may leave the state-of-the-art headquarters he built languishing for years.
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Dissident Syms Corp. creditors are dissatisfied with the plan negotiated by the official creditors’ committee and intend to block approval of the reorganization plan in bankruptcy court at the Aug. 29 confirmation hearing.
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Soybeans and corn rose for a second straight day on speculation that the U.S. Department of Agriculture will lower its forecast for crops in South America. Wheat fell.
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Peregrine Financial Group Inc. founder Russell Wasendorf Sr. pleaded guilty to stealing more than $100 million from the bankrupt commodities firm’s customers.
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Russell Wasendorf Sr. started Peregrine Financial Group Inc. as a one-man firm in the basement of his home and eventually grew the Cedar Falls, Iowa-based futures brokerage to include 241 employees.
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