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THE PAPER
of Wabash County Inc.
www.thepaperofwabash.com
January 12, 2011
Proudly Serving Wabash County Since 1977
Citizens brave frigid weather to Overall plan is to grow, benefit stockholders by Shaun attend Tilghman On Jan. 1, North courthouse Central Co-op (NCC), Wabash, was rally involved in a merger
North Central Cooperative announces recent merger
by Danielle Smith On Jan. 7, Wabash residents convened on the steps of the Wabash County Courthouse to show their unwavering support of the nativity scene, which is annually displayed on the courthouse lawn. This event was prompted by a letter from the Freedom From Religion Foundation, Madison, Wis., to the Wabash C o u n t y Commissioners. The letter stated that a concerned taxpayer of Wabash County had made a complaint about the religious symbol being displayed on government property. In response, 170 concerned taxpayers of Wabash County attended the rally to sing, pray and speak their mind in the 24(continued on page 14)
In Memorium Lawrence Dawson, 94 Edwin Harness, 74 Carl Helton, 76 Leonore Hite, 83 Kay Reed, 59 Clyde Sanders, 91 Barbara Weller, 76 J.H. Werking, 79
Index Classifieds............25-27 Community News.....17,20-22 D & E..........................9 Sports Shorts ............19 Weekly Reports ....10-11 Vol. 33, No. 40
PO Box 603, Wabash, IN 46992 (260) 563-8326
with Fremont Co-op, Fremont, Mich., combining the operations of the two farmer-owned grain, farm supply, and energy cooperatives. The new company is doing business as North Central Co-op and the headquarters remain in Wabash, located at 2025 S. Wabash Street. Darrell Smith, North Central’s CEO, was selected as the CEO of the newly merged cooperative. “Our intent is to grow,” said Smith, “and when we grow we want to look at someone that is very similar in operations to what we are. They (Fremont Coop) are primarily a supply company – very similar to what we are; they service agriculture and they’re basically in everything we’re in except LP. The process begins when the two companies start talking for one reason or another, but it’s got to be a win for both organizations – each has to take away a positive.” NCC Sales and Marketing Manager Ron Pettet added, “They’re a very sound company financially. Their board of directors came to our board of directors and, after meeting, both saw the benefits of working together. We are alike in our supply business, and also the way we treat our
NORTH CENTRAL CO-OP, Wabash, recently merged with Fremont Co-op, Fremont, Mich., as a result of member approval. The new company is doing business as North Central Co-op and is headquartered at 2025 S. Wabash St., Wabash. Darrell Smith, who was North Central’s CEO before the merger, has been named CEO of the new cooperative. (photo by Brent Swan) customers and want to treat our stockholders.” According to North Central’s website, NCC is a major agricultural supplier of farm inputs and also supplies many home and residential customers with motor and heating fuels as well as lubricants. One aspect of its mission is to generate adequate earnings to provide for future growth, to service equity, and to maintain an economically sound organization. “We at North Central look out for our stockholders,” Smith explained. “We want to be sure that any type of merger or acquisition that we have is very positive for our stockholders. I think the biggest benefit our stockholders will see is that we continue to strengthen our balance sheet. Our balance sheet has never been as strong as what it is today; we’re paying a good patronage each year, we’re revolving equity,
and we certainly intend to continue [these trends] as we go forward. This is one way to actually service each of those purposes.” NCC was formed in 1987 as the result of a merger between Wabash County Farm Bureau Cooperative, Inc., and Kosciusko County Farm Bureau Cooperative, Inc. The “North Central” name was selected because of its correlation to the region of the state being served without specifically
identifying with either county. “It wasn’t that long ago that all of these were individual county co-ops,” Pettet said. “Since 1987, North Central has grown from a two-county coop into what it is today, which includes facilities in 21 counties scattered across our trade area. North Central is headquartered in Wabash but we have numerous facilities scattered across northeast Indiana that provide energy products, feed,
and crops products to farmers and customers alike.” Smith added, “We’re proud of our organization and we’re proud of what we’ve been able to do as far as paying a patronage on a consistent basis and revolving equity. If you talked to someone back in the ‘80s they didn’t really think we would ever revolve equity, but in the last four years we’ve revolved approximately $4 million of equity out to the
farms and distributed over $6 million in cash patronage and new equity. The company is very strong financially and has been able to do a lot of growth that we wouldn’t have been able to do as an individual cooperative.” The website for Fremont Co-op states that during the company’s 94 years it has changed with the needs of area farmers and the agricultural community. It further acknowledges that (continued on page 7)
Stimulus package expires, citizens experience increase in federal withholding
by Danielle Smith County Coordinator Jim Dils informed the Wabash County Commissioners at their Jan. 10 meeting that the flags at Wabash government sites have been lowered to half-mast in deference of the Arizona tragedy that occurred Jan. 8. Fourteen were wounded and six were killed by alleged shooter, 22-year-old Jared Loughen. Among the wounded was United States Representative Gabrielle Giffords, who remains in critical condition. Dils also alerted the commissioners that employees would notice an unexpected decrease in net earnings on their next paycheck. He explained the complicated matter by saying that the Making Work Pay Tax Credit, part of the 2009 Stimulus Package passed by President Obama, expired on Dec. 31, 2010. This tax credit provided an average of $15, and possibly as much as $30, in each paycheck for a single person. Wabash County Auditor Jane Harper Ridgeway confirmed the change with Brent Dawes, CPA. “In terms of tax, people are going to see their social security tax go down,” Dils said. “But they are going to see federal taxes go up, even with all of the hubbub of the (continued on page 7)