WAUSAU - It seems Wausau Paper's largest shareholder will get what it wanted... Two new, non-affiliated Board Members. Wausau Paper announced the decision Wednesday.
New York-based Starboard Value LP holds about 15 percent of Wausau Paper's stock.
It had demanded the paper company sell underperforming mills and make changes to its Board of Directors earlier this year.
The two new board members were suggested by Starboard Value LP, but do not have any connection to either Starboard Oor Wausau Paper.
They'll be up for approval at the 2013 Annual Meeting.
This is the third big change of the year for Wausau Paper. In January, the company announced the sale of three midwest mills, including Rhinelander's.
Then, last month, they announced the Brainerd, Minn. mill would close.
Massive tornado flattens homes, neighborhoods in Oklahoma
Submitted: 05/20/2013
OKLAHOMA CITY, OK - A monstrous tornado as much as a mile wide roars through the Oklahoma City suburbs, flattening entire neighborhoods, setting buildings on fire and landing a direct blow on an elementary school.
NBC News reports at least 37 people are confirmed dead as of 7:30 p.m.
The storm laid waste to scores of buildings in Moore, south of the city.
The National Weather Service says it had winds up to 200 mph.
People wearing neon-green vests were joined by residents in the search through rubble. Neighborhoods are flattened and homes blown apart.
Gary Knight with the Oklahoma City Police Department says an elementary school took a direct hit from the mile-wide tornado.
ANTIGO - Most of us waited eagerly for spring so we could start our summer hobbies.
But farmers wait for spring so they can get to work.
John Schroeder runs a potato farm in Antigo.
He says the late spring could mean a bad harvest for crops like alfalfa, but potatoes should be just fine.
"It generally started a little wet and cold, he said. "We were probably three or four days behind planting right now, but we had a good week last week, so we're catching up."
RHINELANDER - Wausau Paper today announced that it has signed a definitive agreement to sell its specialty paper business to a new company sponsored by KPS Capital Partners L.P. (“KPS”), a New York-based private equity firm with significant experience in the paper industry.
The new company will be known as Expera Specialty Solutions, LLC (“Expera”).
KPS, as previously announced, has also entered into a definitive agreement to acquire the specialty paper business of Packaging Dynamics Corporation
Motorcylcist speeds away from Lincoln Co. Sheriff's Deputies at 100+ MPH
Submitted: 05/20/2013
MERRILL - When most people see flashing red lights, they pull over.
Lincoln county deputies are looking for a motorcycle rider who didn't.
A Cafe Racer bike flew down highway 51 around 7pm last night going 84 miles per hour.
A deputy south of Tomahawk tried to pull the driver over, but the biker took off at over 100 miles an hour. For safety reasons, the deputy did not start a chase.
MERRILL - A Rhinelander man died in an ATV crash in Lincoln County this weekend.
The Sheriff's Office responded to a crash just after 6 Saturday night in the town of Harrison.
49-year old Randy Romenesko appeared to have lost control of his ATV and crashed into a tree. He was taken to Ministry Good Samaritan Hospital, where he was pronounced dead.
Police say Romenesko was wearing a helmet but wasn't properly secured. Speed may have been a factor, but police believe alcohol was not.
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