A lawsuit filed Monday in Polk County District Court by an Audubon couple claims an equity company owes them $500,000 in defaulted loans. The Des Moines Register reports in today’s (Saturday’s) edition, that the suit was filed by Gary and Marlene Stearns. It accuses Ladco Capital, Inc. of failing to make payments on nine loans provided by the Stearnses to the company, from December 2006 until January 2011.

Last month a Minnesota bank filed for foreclosure against Ladco-affiliated companies, including Ladco Capital, claiming the company defaulted on three loans amounting to $4.6-million. The banks’ lawsuit asks for foreclosure and sheriff’s sale on a Ladco-owned property and judgement for principal and interest in the amount of $5.5-million. An attorney for Ladco said persons who loaned money to the company have formed a committee to determine how much money if any, can be salvaged from the company. The couple from Audubon have decided not to join that committee, hoping instead to recover their losses through their separate lawsuit.

The Stearnses filed for personal liquidation of their debts last December, and a bankruptcy judge discharged those debts last month. But that hasn’t stopped creditors of the various Ladco companies from filing against the Audubon couple.

As if you weren’t already sleep deprived, you’ll get an hour less shuteye Saturday night no matter what time you turn out the lights.  At 2 a.m. local time Sunday, Daylight Saving Time (DST), that harbinger of spring, arrives with the promise of longer, light-filled days well into the evening.  Turn that clock ahead – remember, spring forward – before heading to bed tonight (Saturday) to avoid the panic of rising later than you think. 
 
Not every place makes the switch, though. Hawaii, Arizona outside the Navajo Indian territories, Puerto Rico, the Virgin Islands, American Samoa, Guam and the Northern Marianas stay on standard time, which returns for the rest of us Nov. 4th , two days before election time.

Atlantic Fire Department 2nd Assistant Fire Chief Tim Cappel reminds area residents the switch to Daylight Saving Time is also a good time to change the batteries in your smoke detector.

(Associated Press/Ric Hanson-KJAN)

DES MOINES, Iowa (AP) – Education reform will likely come before the Iowa House next week, and most expect lawmakers to approve a measure including new student tests and tougher teacher standards. Republican Rep. Greg Forristall from Macedonia, Chairman of the House Education Committee, says he expects the House to pass a bill supported by Gov. Terry Branstad.

The proposal includes new testing for third and 11th graders, a requirement that third graders demonstrate reading proficiency before advancing to the fourth grade, and a rule that potential teachers must post a 3.0 grade point average before entering preparation programs. Teachers also would have to demonstrate proficiency in their field.

The House could take up the matter Tuesday. The Senate has different priorities and it’s unclear whether the Legislature will agree on a plan.

The Iowa State Patrol said Friday no serious injuries were reported following a two-vehicle collision Thursday afternoon, in Creston. Officials say a 1988 Toyota Pickup driven by 16-year old Carson Whittington, of Creston, was exiting a parking lot just south of Prairie Street and attempting to enter the southbound lanes of Highway 25/Sumner Streets, when he failed to see a southbound 1999 Mazda because of another vehicle, which was sitting a stop sign on Prairie Street.

The pickup pulled out onto Highway 25 and hit the right the right front side of the Mazda, driven by 24-year old Sarah Hughes, of Creston. Both drivers were wearing their seatbelts, and suffered only minor injuries. They both refused transport to the hospital.. Whittington was cited by the Patrol for Failure to Yield. Damage from the crash, which happened at around 3:25-p.m., Thursday, amounted to $3,000.