Stock Update: Wheeler Real Estate Investment Trust Inc (NASDAQ:WHLR); FirstEnergy Corp. (NYSE: FE); United States Cellular Corporation (NYSE:USM)
Dallas, Texas, 09/29/2014 (ustrademedia) – Wheeler Real Estate Investment Trust Inc (NASDAQ:WHLR) announced on 26th September that it has decided to assume the provisions of a contract originally signed by one of its sister concern Wheeler Interests, LLC. The deal would entail acquiring nearly 67,177 square commercial and retail footage which is based in Lexington, Kentucky. The property which is more fully described as Bryan Station is said to cost the firm nearly $6.1 million and would translates to a $90.8 per each square of leasable land. The real estate investment firm hopes to acquire the said property by using cash and debt. The firm hopes to turn this investment which was bought at a discount into a very profitable venture, thanks to its strategic location next to a college and heavily traversed roads.
FirstEnergy Corp. (NYSE:FE) announced on September 26, 2014 that its fully owned utility firm West Penn Power registered in GREENSBURG, Pennsylvania has successfully completed the upgrade project of a substation in Ryerson Station. The upgrade project is expected to help increase the customer service ability of the utility provider in addition to meet the increased electricity demands of local coal mines. The upgrade project included the installation of a new 73-ton weighing transformer.
United States Cellular Corporation (NYSE:USM) announced on 26th September that it its current board of directors have voted to change the Certificate of Incorporation of the company. Post the change, the board of directors has been expanded to include a total of 14 directors. In order to maintain complete probity in the approval process, all the independent directors who were candidates retained the services of their own legal representatives, where as the “non-independent members” decided to rescue themselves from voting on the approvals. The latest changes will bring the ratio of independent and non-independent directors on the board of United States Cellular Corporation (NYSE:USM) to an even 1 to 1.