Clipped From St. Louis Post-Dispatch

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 - 7 Nebraska Packer Buys Just-Shut Just-Shut...
7 Nebraska Packer Buys Just-Shut Just-Shut Just-Shut Slaughterhouse JOSLIN, 111. (UPI) Iowa Beef Processors Inc. has purchased a cattle slaughtering plant closed without warning by the Dubuque Packing Co. on Saturday. The acquisition gives new hope to nearly 500 workers left jobless by the closure. Gov. James R. Thompson announced the sale to about 350 jeering and picketing employees Monday. Although Iowa Beef plans to expand the plant's operations, he said he could not guarantee every worker would be rehired. Thompson said Iowa Beef officials had met with him in Springfield last week and agreed to buy the plant. Iowa Beef , which is considering whether to build a $35 million hog slaughtering plant in northern Illinois or Iowa, has postponed that decision pending Thompson's action on a bill to abolish Illinois' unitary tax system. Iowa Beef spokesman Charles Jennings said his firm would be among dozens of other businesses lobbying Thompson to abolish the tax, which . Jennings said places a heavy burden on corporations with operations in several states. "Obviously they would like me to sign it," Thompson said of the bill, which is sitting on his desk for approval. "But I told them I couldn't promise anything. They were willing to come into this plant despite the unitary tax. Order Freezes Thomas R. Brimberry, the key figure in an internal looting scheme that forced the closing of the Stix & Co. Inc. stock brokerage here, has been prohibited from disposing of any of his property. An injunction issued Friday by U.S. Bankruptcy Judge Robert E. Brauer prevents Brimberry, his wife and minor children from transferring any property in which they have an interest until the Stix case is resolved. Attorney Harry O. Moline Jr., the Stix trustee, is trying to recoup some of the $14 million in losses sustained by Stix & Co. Moline filed suit in February to recover assets alleged to have been stolen by Brimberry since 1975. "I think that means they think they've got a pretty good thing here." Thompson said Iowa Beef, based in Dakota City, Neb., wants to refurbish the Joslin facilities before reopening within the next several months and, eventually, hopes to double the plant's Brimberry Assets Brimberry was vice president in charge of operations for Stix until the firm was closed last fall. He has told federal authorities that he and others conspired to loot the firm through the manipulation of accounts and the use of phony securities. : In a report submitted to the court Friday, Brimberry disclosed the personal assets he would voluntarily convey to the trustee. The list includes six properties in the Metro East area and a jet boat at Lake Ozark, Mo. The parcels of real estate include lots in Edwardsville and Granite City, at Illinois Route 162 and Mockingbird Lane, and in Chouteau Township. Brimberry's report does not set a value on any of the properties. Nor does employment and output. "They plan to slaughter and dress more cattle here because they see Chicago as a major market for this, plant,' he said, noting the plant had been slaughtering about 1,400 cattlei -daily -daily before it closed. it state whether any of the properties " has a lien on it. The report does state" that no other properties will be subject to claims of the trustee. '. ; r Brimberry; his attorney, Ronald D Stanley, and Moline could not be, ' reached for comment. It wasn't known -. -. whether Moline would accept the offer in Brimberry's report to transfer th; i properties. !''''', A federal grand jury has yet to hand up an indictment on possible criminal charges against Brimberry, though lie already has struck a deal with federal prosecutors. Brimberry plans to plead guilty to one charge of tax felony in return for his cooperation in disclosing how the scheme worked and who was involved. "'

Clipped from
  1. St. Louis Post-Dispatch,
  2. 17 Aug 1982, Tue,
  3. Other Editions,
  4. Page 3

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