Monday, January 25, 2021

Illinois Chamber - This Week in Illinois

Session Canceled
While the Senate was originally scheduled to reconvene this Tuesday, January 26th, session has now been canceled. We expect the Senate to release committee rosters in the next couple days and hope to have this information to you in next week's GAR. Session is now scheduled to resume Tuesday, February 2nd. 

Governor Pritzker Modifies Regional Mitigation Metrics 
In an announcement regarding increased hospital staffing across Illinois, Governor Pritzker released modified regional mitigation metrics. These new mitigation metrics, which apply to all 11 COVID-19 regions in the state, are expected to loosen restrictions and allow for some recreational activities and in-door dining for qualifying areas. Pritzker's full executive order can be found here. 

Speaker Welch Announces New House Leadership Team
Earlier this week, newly elected Speaker of the House Emanuel "Chris" Welch announced his full leadership team. His statement regarding the new House Democrat Leadership can be found here. 
  • State Rep. Greg Harris - Majority Leader
  • State Rep. Jehan Gordon-Booth - Deputy Majority Leader / Speaker Pro-Tempore
  • State Rep. Mary E. Flowers - Deputy Majority Leader and Dean of the Caucus
  • State Rep. Jaime M. Andrade, Jr. - Assistant Majority Leader
  • State Rep. Robyn Gabel - Assistant Majority Leader
  • State Rep. Elizabeth Hernandez - Assistant Majority Leader
  • State Rep. Jay Hoffman - Assistant Majority Leader
  • State Rep. Natalie Manley - Assistant Majority Leader
  • State Rep. Marcus C. Evans, Jr. - Assistant Majority Leader
  • State Rep. Delia Ramirez - Assistant Majority Leader
  • State Rep. Carol Ammons - Democratic Conference Chair
HB 1480, adverse impact on employer's hiring practices: Update 
SB 1480, an amendment to the Illinois Human Rights Act, is a sweeping piece of legislation that will have serious ramifications for employers. SB 1480 passed the House and Senate on a partisan basis in the waning hours of the 101st General Assembly's lame duck session and now awaits the Governor's signature. Highlighted below are some of the bill's most egregious provisions for employers. The Chamber, along with a coalition of business advocates, has requested a veto. The Chamber's full analysis of SB 1480 can be found here. Please forward this vital information to the legal counsel and human resources department within your organization.

New Legislation to Watch:
  • HB 62 (Flowers) This bill establishes healthcare as a right for all Illinoisans under the Illinois Health Services Program
  • HB 66 (Flowers) This bill eliminates the Medicaid Managed Care program. 
  • HB 146 (Morgan) This bill gives the Director of IL DOI the authority to disapprove "unreasonable" rate increases
  • HB 186  (West) Amends the Illinois Income Tax Act. Creates a credit against withholding tax payments for employers with 250 or fewer full-time equivalent employees in an amount equal to a percentage of the compensation paid to qualified employees who received a raise from the employer.
  • HB 211  (Sosnowski) This bill creates the Local Government Business Anti-Poaching Act. Provides that no municipality or county shall offer any incentive after the effective date of the Act to a business or corporation to move its headquarters located in Illinois, or any part of its business located in Illinois, away from the current location at the time of the offering of the incentive. Defines "incentive". Limits home rule powers. Effective immediately.

 

Thursday, January 14, 2021

Pacific Ethanol Completes Name Change to Alto Ingredients, Inc.

 Pacific Ethanol, Inc.

·3 min read

Corporate rebrand reflects enhanced focus on specialty alcohols and essential ingredients

SACRAMENTO, Calif., Jan. 13, 2021 (GLOBE NEWSWIRE) -- Pacific Ethanol, Inc. (NASDAQ: PEIX), a leading producer of specialty alcohols and essential ingredients, has changed its corporate name to Alto Ingredients, Inc., effective January 12, 2021. The company’s name change will be reflected on The Nasdaq Stock Market on January 14, 2021, and the company’s stock will begin trading under a new ticker symbol, ALTO, starting February 1, 2021.

CEO Mike Kandris said, “We have chosen our new corporate name and brand to represent our many high-quality products, which our customers incorporate into a range of vital finished goods that touch people’s everyday lives, from cleaning solutions to pharmaceuticals. We are capitalizing on our unique capability to manufacture high-grade alcohols for the food, beverage, health, and ingredients markets, and to process corn into high protein feed, pet food, and renewable fuel. As we move forward under our new Alto Ingredients brand, we remain committed to our goal of delivering the highest levels of integrity, purity, and quality to create value for our customers, partners, and shareholders.”

About Alto Ingredients, Inc.

Alto Ingredients, Inc. (PEIX), formerly known as Pacific Ethanol, Inc., is a leading producer of specialty alcohols and essential ingredients. The company is focused on products for four key markets: Health, Home & Beauty; Food & Beverage; Essential Ingredients; and Renewable Fuels. The company’s customers include major food and beverage companies and consumer products companies. For more information please visit www.altoingredients.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Statements and information contained in this communication that refer to or include Alto Ingredients' estimated or anticipated future results or other non-historical expressions of fact are forward-looking statements that reflect Alto Ingredients' current perspective of existing trends and information as of the date of the communication. Forward looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “should,” “estimate,” “expect,” “forecast,” “outlook,” “guidance,” “intend,” “may,” “might,” “will,” “possible,” “potential,” “predict,” “project,” or other similar words, phrases or expressions. Such forward-looking statements include, but are not limited to, statements concerning Alto Ingredients' plans, objectives, expectations and intentions. It is important to note that Alto Ingredients' objectives, expectations and intentions are not predictions of actual performance. Actual results may differ materially from Alto Ingredients' current expectations depending upon a number of factors affecting Alto Ingredients' business. These factors include, among others, adverse economic and market conditions, including for specialty alcohols and essential ingredients; export conditions and international demand for the company’s products; fluctuations in the price of and demand for oil and gasoline; raw material costs, including production input costs, such as corn and natural gas; and the effects – both positive and negative – of the novel coronavirus, COVID-19. These factors also include, among others, the inherent uncertainty associated with financial and other projections; the anticipated size of the markets and continued demand for Alto Ingredients' products; the impact of competitive products and pricing; the risks and uncertainties normally incident to the specialty alcohol production and marketing industries; changes in generally accepted accounting principles; successful compliance with governmental regulations applicable to Alto Ingredients' distilleries, products and/or businesses; changes in laws, regulations and governmental policies; the loss of key senior management or staff; and other events, factors and risks previously and from time to time disclosed in Alto Ingredients' filings with the Securities and Exchange Commission including, specifically, those factors set forth in the “Risk Factors” section contained in Alto Ingredients' Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 16, 2020.

Media Contact:
Bryon McGregor, Alto Ingredients, Inc., 916-403-2768, mediarelations@altoingredients.com

Company IR Contact:
Michael Kramer, Alto Ingredients, Inc., 916-403-2755, Investorrelations@altoingredients.com

IR Agency Contact:
Moriah Shilton, LHA Investor Relations, 415-433-3777, Investorrelations@altoingredients.com

Tuesday, January 12, 2021

Inspections on Bob Michel Bridge set Jan. 14-15

 

PEORIA  The Illinois Department of Transportation announces that intermittent daytime lane closures on the Bob Michel Bridge, which carries Illinois 40 over the Illinois River, are set Jan. 14-15. 

The lane closures are necessary for crews to perform utility inspections on the bridge and will begin after 8:30 a.m. and wrap up by 3:30 p.m. both days. 

Motorists can expect delays and should allow extra time for trips through this area. To avoid the work area, when feasible, use of alternate routes should be considered. Drivers are urged to pay close attention to changed conditions and signs in the work zones, obey the posted speed limits, refrain from using mobile devices and be alert for workers and equipment. 

Over the next six years, IDOT is planning to improve more than 3,300 miles of highway and 8.4 million square feet of bridge deck as part of the Rebuild Illinois capital program, which is investing $33.2 billion into all modes of transportation. Year One included approximately $2.7 billion of improvements statewide on 1,706 miles of highway, 128 bridges and 228 additional safety improvements. 

For more information on IDOT projects, click hereFor IDOT District 4 updates, follow us on Twitter at @IDOTDistrict4 or view area construction details on IDOT’s traveler information map on GettingAroundIllinois.com and www.gettingaroundpeoria.com. 

 

###