Little by little, Harry & David is shedding the final vestiges of its former pension obligations

Harry & David Holdings may have jettisoned its pension plan during its Chapter 11 reorganization travails two years ago, but there remains a cost to the successor organization.
The Medford-based gift and gourmet food company, which has fared well since emerging from bankruptcy in September 2011, earning $41.7 million in its most recent quarter.
Nonetheless, Harry & David remained on the hook for $8.7 million in pension-related termination premiums to the Pension Benefit Guaranty Corporation.
The company is paying PBGC in quarterly payments due to end Aug. 14, 2014.
The agency also had an unsecured $30 million claim, of which it is entitled to receive 10 percent under the Delaware Bankruptcy Court agreement.

Now that its flush with cash from a public offering Boise Cascade Holdings can clip a few more threads that tethered it to former owner OfficeMax Inc.
Boise Cascade will payout $129 million to cover OfficeMax’s 2004 investment .
OfficeMax said it will continue to hold a 20.4 percent of Boise Cascade’s Series B shares, representing an indirect ownership interest of about 14 percent.
Boise Cascade shares opened last week at $25.44 on the New York Stock Exchange, or 21 percent above their $21 IPO price. At 11.8 million shares, the deal was valued at $247 million.

Northwest clean technology start-ups attracted $4.7 million from angel investors in 2012. Sustainable Business Oregon editor Christina Williams takes a look at the companies.

Seattle business journalist Stephen Dunphy is always a master of capturing the little things that add up.

And just when it appeared we might get a relief in gas prices, a month or so ago, we woke up this morning staring at the highest unleaded regular gas prices ever for Feb. 12 in the state of Oregon.
AAA reports a combination of higher crude prices, refinery shut downs and speculation have sent gas prices soaring earlier than usual this winter, but the rate of increase has slowed down a bit this week.

This entry was posted in Uncategorized. Bookmark the permalink. Post a comment

Post a Comment

You must be logged in to post a comment.

We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Rules. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or fill out this form.
  • Blog Author

    Greg Stiles

    Covering the Southern Oregon business and economy since 2001. Read Full
  • Categories

  • Archives

  • Latest from Twitter