Kopetz Mfg., Inc. Recapitalized by LMW2 Partners, LLC.

Sikich Investment Banking (Sikich) has announced its most recent transaction: the recapitalization of Kopetz Mfg., Inc. (Kopetz or the Company) by private equity firm, LMW2 Partners, LLC. Sikich served as the exclusive financial advisor to the owners of Kopetz.
Kopetz, founded in 1976 with roots going back more than 60 years, is based in Decatur, Illinois. Kopetz is a leading metal fabricator of large pressure vessels and heat exchangers to the worldwide process industries and energy sectors. The Company has grown rapidly in recent years, nearly doubling its workforce from early in 2010. Much of this success is due to its expansion in the burgeoning Liquefied Natural Gas (LNG) industry. Kopetz produces custom, proprietary, LNG vaporizers for both land-based and ship-borne applications used around the world including Asia, the Middle East and South America.
Having successfully led the Company through the recession, Jim Grady, Kopetz’s owner, was looking for an investment partner to assist in taking Kopetz to the next level. Grady engaged the services of Chicago-based Sikich Investment Banking to guide him in this process. The Sikich team, led by Partner-in-Charge, Christopher Geier, and Managing Director, Bob Stutz, was able to develop numerous attractive proposals for Kopetz. Sikich, with a long history of working with private companies, quickly saw the value in Kopetz. Kopetz is a global leader in the LNG space. With significant growth opportunities across multiple industries, LMW2 is an ideal capital partner with capacity to support that growth,” commented Geier. 
“In addition to capital, we were seeking a partner that could provide strategic advice, industry connections and international expertise. Sikich helped us to tell the story of Kopetz in a compelling way, and they were able to bring us several investors interested in the Company,” said Jim Grady. “Their industry knowledge and operational experience were integral, and those strengths are not common in a financial advisor. In the end, Sikich found the right investment partner in LMW2 to help us realize the full potential of Kopetz.”

Hammel Chosen To Lead Decatur Area
Convention & Visitors Bureau

A lifelong Central Illinois resident and long-time, key staff member has been tapped as the next leader for the Decatur Area Convention & Visitors Bureau.
Teri Hammel, who has been with the Bureau since 1997 has been appointed as executive director for the local organization charged with leading regional tourism efforts. Hammel had served as the DACVB's Director of Sales, Meetings Conventions and Finance since 2009 where she managed bureau accounting, budgeting, grant writing and event recruitment and since 2008 has also been chair for the State of Illinois' Illinois Council of Convention & Visitor Bureau Finance & Administration Group.
Hammel has also worked as DACVB Director of Tourism & Finance (1997-1999), director of Sports Marketing & Finance (2000-2009) and has either chaired or directed a number of local committees and events promoting local tourism. She has worked as a past member of the "Looking for Lincoln" committee and as American Softball Association National & State Tournament Director (2006 and 2007) and is a past president of the Macon County Historical Society.  
"We are excited about having Teri to lead this organization," said Carol Barnes, board president. "She is a progressive leader with a wealth of experience in the hospitality industry and, perhaps most importantly, people locally, statewide and nationally know and trust her."
Hammel replaces Jeff Hendricks who retired as executive director at the end of March.  

Rep. Mitchell Issues Statement In Response To 300 More
Employees To Be Laid Off At Caterpillar's Decatur Plant

State Representative Bill Mitchell (R-Forsyth) released the following statement in response to Friday’s announcement that another 300 employees at the Caterpillar plant in Decatur will be laid off,  in addition to the 460 layoffs announced in April:
“The U.S. unemployment rate is at 7.5 percent and 165,000 jobs were added nationwide. Unfortunately, the improvement in the economy has bypassed Illinois and Macon County. Today’s announcement that another 300 CAT workers will be laid off, so nearly 800 layoffs in the past month, is terrible news for Decatur. While I understand Caterpillar’s decision was based largely on a weakening mining industry, we have to do better. These layoffs demonstrate the need to pass a ‘fracking’ bill in Illinois to create jobs and opportunity for working families. More must be done to improve our economy locally and get Illinois working again.”

ADM to Acquire GrainCorp

Combined company will create enhanced global partner for growers and customers

DECATUR, Ill. & SYDNEY--(BUSINESS WIRE)-- Archer Daniels Midland Company (NYSE: ADM) announced today that it has completed due diligence on GrainCorp Limited (ASX: GNC) and intends to make a cash offer to acquire the outstanding common shares of the company for A$12.20 per share under the terms of the takeover bid implementation deed signed with GrainCorp last week.

“We believe the offer delivers strong value for both companies’ shareholders,” said ADM Chairman and CEO Patricia Woertz. “The acquisition fits well with our growth strategy and will meet our return objectives. We are also confident in the cultural fit of our two companies: we share similar values of integrity, excellence and safety, with strong commitments to people, communities, customers and sustainability.

“With the world’s population growing by half a billion people every decade, and with rising incomes driving increased consumption of grains and protein, global demand for agricultural products will continue to see significant growth. GrainCorp provides an excellent platform to serve that growth, particularly in fast-growing markets in the Middle East, Africa and Asia. Together, ADM and GrainCorp will give customers around the world access to a more diversified origination portfolio while providing Australian growers with greater access to world markets, enhanced logistics, and leading market insight.”

The offer implies an aggregate transaction value of about A$3.4 billion. The transaction value reflects the weighted average cost of acquiring the initial 19.8 percent stake in GrainCorp at an average of A$11.24 per share, and the remaining shares of GrainCorp at A$12.20 per share. The transaction meets ADM’s key financial objectives, and will be earnings accretive in the first full year. ADM will fund the acquisition through a combination of operating cash flows and debt.

As part of the agreement, GrainCorp will additionally pay to its shareholders, prior to the completion of the transaction, dividends totaling A$1.00 per share. If the regulatory conditions are not achieved by Oct. 1, 2013, GrainCorp will pay an additional dividend of A3.5 cents per share for each full month between Oct. 1, 2013 and the satisfaction or waiver of the regulatory conditions, subject to GrainCorp being profitable over that period.

GrainCorp has indicated that the ADM offer would be unanimously recommended by the GrainCorp board, subject to there being no superior proposal, an independent expert confirming that the offer is fair and reasonable, and the regulatory conditions for the acquisition being satisfied or waived by Dec. 31, 2013.

The offer is subject to conditions, set out in the takeover bid implementation deed viewable at www.adm.com, which include ADM receiving a minimum acceptance of 50.1 percent of GrainCorp shares. ADM presently owns 19.8 percent of GrainCorp’s shares.

The company will discuss the GrainCorp transaction during today’s first quarter financial results conference call and audio webcast at 5 p.m. Central U.S. Time (8 a.m. Australian Eastern Standard Time). To listen to the call via the Internet or to download the slide presentation, go to www.adm.com/webcast. To listen by telephone, dial (888) 522-5398 in the U.S. or (706) 902-2121 if calling from outside the U.S. The access code is 32838804.

ADM will file a Bidder’s Statement, and GrainCorp will file a Target’s Statement with the Australian Securities Exchange (the “ASX”).

Barclays and Citi are acting as financial advisors. Corrs Chambers Westgarth and Cravath, Swaine & Moore LLP are acting as legal advisors.

ADM Reports First Quarter 2013 Earnings
of $269 Million or $0.41 per Share

IRVINE, Calif., April 30, 2013 – CoreLogic^® (NYSE: CLGX), a leading residential property information, analytics and services provider, today released its March National Foreclosure Report which provides data on completed U.S. foreclosures and the national foreclosure inventory. According to CoreLogic, there were 55,000 completed foreclosures in the U.S. in March 2013, down from 66,000 in March 2012, a year-over-year decrease of 16 percent. On a month-over-month basis, completed foreclosures rose from 52,000* in February 2013 to the March level of 55,000, an increase of 6 percent.

As a basis of comparison, prior to the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006. Completed foreclosures are an indication of the total number of homes actually lost to foreclosure. Since the financial crisis began in September 2008, there have been approximately 4.2 million completed foreclosures across the country.

Approximately 1.1 million homes in the U.S. were in some stage of foreclosure, known as the foreclosure inventory, as of March 2013 compared to 1.5 million in March 2012, a year-over-year decrease of 23 percent. Month over month, the foreclosure inventory was down 1.9 percent from February 2013 to March 2013. The foreclosure inventory as of March 2013 represented 2.8 percent of all homes with a mortgage compared to 3.5 percent in February 2013.

"In March, completed foreclosures were down 52 percent from the peak in 2010, and almost all of the top 100 major metropolitan areas have declining foreclosure rates," said Dr. Mark Fleming, chief economist for CoreLogic. "The foreclosure rate nationally is down 23 percent relative to a year ago, signaling continued reduction in the stock of distressed assets."

"For 17 consecutive months, foreclosures have declined year over year across the U.S," said Anand Nallathambi, president and CEO of CoreLogic. "Although we still have more than a million homes in some stage of foreclosure, this trend, combined with rising home prices, is another signal of a gradually improving housing market."

Highlights as of March 2013:

• The five states with the highest number of completed foreclosures for the 12 months ending in March 2013 were: Florida (103,000), California (83,000), Michigan (70,000), Texas (53,000) and Georgia (48,000). These five states account for almost half of all completed foreclosures nationally.
• The five states with the lowest number of completed foreclosures for the 12 months ending in March 2013 were: South Dakota (81), District of Columbia (101), Hawaii (421), North Dakota (487) and West Virginia (554).
• The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were: Florida (9.7 percent), New Jersey (7.3 percent), New York (5.0 percent), Maine (4.4 percent) and Illinois (4.4 percent).
• The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were: Wyoming (0.5 percent), Alaska (0.7 percent), North Dakota (0.7 percent), Nebraska (0.9 percent) and Montana (0.9 percent).

*February data was revised. Revisions are standard, and to ensure accuracy, CoreLogic incorporates newly released data to provide updated results.

Judicial Foreclosure States Foreclosure Ranking (Ranked by Completed Foreclosures):

Source: CoreLogic March 2013

Non-Judicial Foreclosure States Foreclosure Ranking (Ranked by Completed Foreclosures):

Source: CoreLogic March 2013

Foreclosure Data for Select Large Core Based Statistical Areas (CBSAs) (Ranked by Completed Foreclosures):

Source: CoreLogic March 2013

Methodology 
The data in this report represents foreclosure activity reported through March 2013.

This report separates state data into judicial vs. non-judicial foreclosure state categories. In judicial foreclosure states, lenders must provide evidence to the courts of delinquency in order to move a borrower into foreclosure. In non-judicial foreclosure states, lenders can issue notices of default directly to the borrower without court intervention. This is an important distinction since judicial states, as a rule, have longer foreclosure timelines, thus affecting foreclosure statistics.

A completed foreclosure occurs when a property is auctioned and results in the purchase of the home at auction by either a third party, such as an investor, or by the lender. If the home is purchased by the lender, it is moved into the lender's real estate owned (REO) inventory. In "foreclosure by advertisement" states, a redemption period begins after the auction and runs for a statutory period, e.g., six months. During that period, the borrower may regain the foreclosed home by paying all amounts due as calculated under the statute. For purposes of this Foreclosure Report, because so few homes are actually redeemed following an auction, it is assumed that the foreclosure process ends in "foreclosure by advertisement" states at the completion of the auction.

The foreclosure inventory represents the number and share of mortgaged homes that have been placed into the process of foreclosure by the mortgage servicer. Mortgage servicers start the foreclosure process when the mortgage reaches a specific level of serious delinquency as dictated by the investor for the mortgage loan. Once a foreclosure is "started," and absent the borrower paying all amounts necessary to halt the foreclosure, the home remains in foreclosure until the completed foreclosure results in the sale to a third party at auction or the home enters the lender's REO inventory. The data in this report accounts for only first liens against a property and does not include secondary liens. The foreclosure inventory is measured only against homes that have an outstanding mortgage. Homes with no mortgage liens can never be in foreclosure and are, therefore, excluded from the analysis. Approximately one-third of homes nationally are owned outright and do not have a mortg age. CoreLogic has approximately 85 percent coverage of U.S. foreclosure data.

Source: CoreLogic
The data provided is for use only by the primary recipient or the primary recipient's publication or broadcast. This data may not be re-sold, republished or licensed to any other source, including publications and sources owned by the primary recipient's parent company without prior written permission from CoreLogic. Any CoreLogic data used for publication or broadcast, in whole or in part, must be sourced as coming from CoreLogic, a data and analytics company. For use with broadcast or web content, the citation must directly accompany first reference of the data. If the data is illustrated with maps, charts, graphs or other visual elements, the CoreLogic logo must be included on screen or website. For questions, analysis or interpretation of the data, contact Lori Guyton atlguyton@cvic.com or Bill Campbell at bill@campbelllewis.com. Data provided may not be modified without the prior written p ermission of CoreLogic. Do not use the data in any unlawful manner. This data is compiled from public records, contributory databases and proprietary analytics, and its accuracy is dependent upon these sources.

About CoreLogic
CoreLogic (NYSE: CLGX) is a leading property information, analytics and services provider in the United States and Australia. The Company's combined data from public, contributory, and proprietary sources includes over 3.3 billion records spanning more than 40 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, transportation and government. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed services. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in seven countries. For more information, please visitwww.corelogic.c om.

CORELOGIC and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries.

ADM and GrainCorp Sign Takeover Bid Implementation Deed

Rhode Island Is the Best State for Savings Account Rates
in U.S., Montana is the Worst, According to New Data 

Leading rates aggregator www.GoBankingRates.com releases an easy-to-understand infographic that compares the average savings account rates offered in each state throughout the U.S.

EL SEGUNDO, CA, March 28, 2013 – Although interest rates today may be low overall, a new savings account study from GoBankingRates.com finds that savers’ ability to find high yield savings rates can depend on where they live.

With the use of a helpful infographic, GoBankingRates highlights the best and worst states for saving money in the United States.

“Hearing their state is 'good' or 'bad' for saving money may not mean much to depositors, but seeing the hard numbers laid out on a U.S. map really puts things in perspective,” says GoBankingRates managing editor Casey Bond, adding, “Savers can use this graphic to guide where and how they save their money in the future.”

GoBankingRates surveyed its database of more than 4,000 local banks and credit unions to find the average savings account interest rate in each state and in Washington, D.C. The states were then ranked according to the average interest rate on savings, to find which states offered the best (and worst) dividends in the nation.

According to the interest rate information in the GoBankingRates database, credit unions and banks were offering the highest savings account interest rates in Rhode Island, with an average of 0.32% APY. Runners-up include North Carolina and Vermont, both with averages of 0.30% APY.

On the other end of the spectrum falls Montana, with an average 0.11% APY interest rate on savings. Arizona offers the second-worst rates with a 0.12% APY average, and Connecticut has the third-worst average of 0.13% APY.

View the complete study.

Note that the savings and CD rates used in this study are current as of February 28, 2013, based on institutions' online published rates and a deposit amount of $10,000, and may have changed since this date. It is advised that before opening an account, depositors verify rates with financial institutions and review all terms and conditions of individual accounts.

For questions about this report or to schedule an interview with a GoBankingRates editor, please use the contact information below.

About GoBankingRates

GoBankingRates.com is a national website dedicated to connecting readers with the best interest rates on financial services nationwide, as well as informative personal finance content, news and tools. GoBankingRates collects interest rate information from more than 4,000 U.S. banks and credit unions, making it the only online rates aggregator with the ability to provide the most comprehensive and authentic local interest rate information.

Caterpillar presents $1 million check to Millikin University

DECATUR, Ill. – On Tuesday, March 19, the Caterpillar Foundation made its second payment of $1 million to Millikin University as part of the Caterpillar Foundation’s $7 million pledge made in 2011. This charitable investment is specifically earmarked for construction and renovation to transform Aston Hall into a Center for International Education on the university’s campus.

In 2011, Caterpillar Inc. Chairman and CEO, Doug Oberhelman, a 1975 Millikin graduate, announced a charitable investment of up to $11.5 million toward Millikin’s “Transform MU” capital campaign, the largest show of support in Millikin’s history.

The investment, made both by the Caterpillar Foundation and personally by Oberhelman and his wife, Diane, will support the creation of a new university center that will house the Oberhelman Leadership Development Center, help renovate Millikin’s oldest residence hall to create a Center for International Education and double the number of students supported by the university’s Long-Vanderburg Scholars Program for minority students.

The $1 million check presented March 19 by Caterpillar Decatur’s General Manager Walt Hupe is designated for Caterpillar’s committed total of $3 million to help renovate and develop the new Center for International Education, which will provide housing for international students and serve as a home for multicultural affairs staff, international programs, study abroad and global awareness.

Four of Millikin’s international students attended the check presentation at Caterpillar’s Decatur office to express their support of the project: Jordan Moxey of the Bahamas, a biology major; Dominic Hart, an exercise science major from Australia; Mohand Aalsaleh of Saudi Arabia, a pre-pharmacy major; and Tom Pardo, an international business major from France.

“Thanks to the generosity of Caterpillar and the Oberhelmans, the new Center for International Education will serve a vital role in enhancing a critical area of our university mission – to prepare our students for democratic citizenship in a global environment,” says Millikin Interim President Rich Dunsworth. “Our students are going to work in an environment, far more diverse than any previous generation has. To not only achieve professional success in tomorrow's expanding global workplace, but to have a life of meaning and value, we must understand the world around us. The development of the Center for International Education is a vital piece in developing that understanding.”

Millikin’s partnership with Caterpillar extends back nearly six decades to 1955 when the company made its first investment in the university.

BREAKDOWN OF CATERPILLAR’S PLAN OF SUPPORT FOR THE “TRANSFORM MU” CAMPAIGN

Creation of the Oberhelman Leadership Development Center - $6.5 million

Total funding to create the Oberhelman Leadership Development Center on the second floor of the new University Center includes a $3.5 million challenge matching grant by the Caterpillar Foundation to match donations made by Caterpillar employees and retirees, as well as $3 million donated personally by the Oberhelmans, for a total gift of $6.5 million. The proposed center will be home to more than 100 student leadership organizations, including student government, Greek life and the multicultural student council. Emerging and seasoned student leaders will have the opportunity to share their resources and practice leadership, management, marketing and technical skills. The new Center will include student organization and development areas, collaboration rooms and three flexible laboratory areas.

Creation of a new Center for International Education - $3 million

The Caterpillar Foundation has also committed $3 million to help create a new Center for International Education through the renovation of Aston Hall, originally built in 1907. The proposed center will complement the academic experience, offering a variety of cultural, educational, social and recreational programs for students. Plans for the Center provide for residence hall space for up to 70 international and domestic students, faculty offices, a lecture/conference hall, two “smart” classrooms and a resource room.

Challenge gift for donors to the new University Center - $1.5 million

The Oberhelmans have also committed to a $1.5 million personal challenge matching grant for potential donors to the new University Center. To date, Millikin has secured $1.1 million from other donors in response to the Oberhelmans’ challenge.

Expansion of the University’s Long-Vanderburg Scholars Program - $500,000

The Caterpillar Foundation is also investing $500,000 in MU’s Long-Vanderburg Scholars program, which recognizes high scholastic achievement among historically underrepresented students by providing scholarship support and development opportunities. The program will double from 60 to 120 students in a four-year period.

The $85 million “Transform MU” campaign was launched in May 2010 and will revitalize the east side of Millikin’s campus, as well as make significant advances in creating new student scholarships, increasing endowment and faculty development funds, and improving infrastructure. To date, the campaign has raised $65.3 million dollars.

For more information, visit the campaign website at www.millikin.edu/transform.