Joe Staley took the stage at the 49ers’ State of the Franchise event Wednesday night so CEO Jed York could break news that was hardly surprising.Staley, a 12-year cornerstone at left tackle, received a two-year extension on a contract that was to expire after this season. Financial terms were not disclosed by the 49ers nor Staley’s agent.“Honestly, Jed, since the moment you guys drafted me in 2007, it’s been my absolute honor to play for this franchise and I wanted nothing more than to …
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Share Facebook Twitter Google + LinkedIn Pinterest Similar weather today and tomorrow to what we saw this weekend. A large part of Ohio will be dry, but with the heat still around, instability will be here too. That means we have threats for afternoon pop up thunderstorms, just like the past couple of days. Coverage on these will be limited to 30% of the state or less, but we cant rule them out. Moisture potential is up to half an inch, unless we see some really strong action come together, at which point we can blow that upper end of the range out of the water. The remains of Barry finally make it into the ECB tomorrow night. We do not think we take a direct hit from the system, but the bands of moisture that are rotating around will swing up into parts of Ohio from time to time. Wednesday and Thursday , we are looking for anywhere from .1”-1.5” over about 80% of the state, and an additional 10% may be able to get closer to or above 1”, if strong thunderstorms arrive. The biggest and best rains will be limited to KY and TN, along with the Mississippi river valley. This kind of set up will likely be the best for us, though, as many areas continue to report the need for at least a little rain. Everything should wind down by Thursday midday. We are mostly dry for Friday, Saturday, although we cant rule out scattered showers and even a thunderstorm in northern and northwest Ohio later Saturday afternoon through midnight Saturday night. The action is limited to those areas the way things look right now, with rain totals up to .75″ and 60% coverage. Sunday that action slides a little farther south, hitting the rest of Ohio with the same 60% coverage. This allows for additional action along the stagnating frontal boundary Monday into Tuesday morning, where we can see an additional half inch of rain or less, with 70% coverage. The pattern turns drier again for the second half of next week, Wednesday through Friday. But, if the moisture that we are projecting does actually arrive with good coverage…we should be in better shape moving forward. The map below shows rain potential through the 10 day period.
Share Facebook Twitter Google + LinkedIn Pinterest This week, Dean Foods Company announced that it and substantially all of its subsidiaries have initiated voluntary Chapter 11 reorganization proceedings in the Southern District of Texas. The Company intends to use this process to protect and support its ongoing business operations and address debt and unfunded pension obligations while it works toward an orderly and efficient sale of the Company.Dean Foods also announced that it is engaged in advanced discussions with Dairy Farmers of America, Inc. (DFA) regarding a potential sale of substantially all assets of the Company. If the parties ultimately reach agreement on the terms of a sale, such transaction would be subject to regulatory approval and would be subject to higher or otherwise better offers in the bankruptcy.Dean Foods is operating in the ordinary course of business and remains focused on providing its customers with wholesome, great-tasting dairy products and the highest levels of quality, service and value. The Company has received a commitment of approximately $850 million in debtor-in-possession (DIP) financing from certain of its existing lenders, led by Rabobank. Following court approval, the Company expects to use the DIP financing, together with cash on hand and operating cash flows, to support its continued operation throughout this process, including payment of employee wages and benefits without interruption and payment to suppliers and vendors in full under normal terms for goods and services provided on or after the filing date.“The actions we are announcing today are designed to enable us to continue serving our customers and operating as normal as we work toward the sale of our business,” said Eric Beringause, who recently joined Dean Foods as president and CEO. “We have a strong operational footprint and distribution network, a robust portfolio of leading national brands and extensive private label capabilities, all supported by approximately 15,000 dedicated employees around the country. Despite our best efforts to make our business more agile and cost-efficient, we continue to be impacted by a challenging operating environment marked by continuing declines in consumer milk consumption. Importantly, we are continuing to provide customers with an uninterrupted supply of high-quality dairy products, as well as supporting our dairy suppliers and other partners.”Beringause joined the company just over three months ago.“I’ve taken a hard look at our challenges, as well as our opportunities, and truly believe we are taking the best path forward. In recent months, we have put in place a new senior management team that not only has considerable experience in the dairy and consumer product industries, but also in executing major turnarounds,” he said. “I am confident we have the right people in place to lead us through this process.”In conjunction with the court-supervised process, Dean Foods has filed a number of customary motions seeking court authorization to continue to support its business operations. The Company expects to receive court approval for all of these requests. The Company also intends to file bidding procedures with the court to conduct a sale in accordance with Section 363 of the U.S. Bankruptcy Code and work with its creditors to explore a potential stand-alone plan of reorganization.Additional information is available on the restructuring page of the Company’s website, www.DeanFoodsRestructuring.com.
Several passenger aircraft landed at the Agartala airport on Monday as flights for Kolkata’s Netaji Subhas Chandra Bose International Airport were diverted to different destinations due to bad weather. Eight flights made a halt at the airport which could not even operate routine flights for Kolkata.“There was an emergency situation due to incessant rains and heavy winds in Kolkata. Nearly 30 midair flights were diverted to different sectors as a safety measure,” an official of the Airports Authority of India (AAI) told The Hindu.He said flights were told to land in the Agartala, Bhubaneswar, Bagdogra and Ranchi airports. The diversion started in the morning, he added. The situation also disrupted normal flight operations from Agartala.