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MINNESOTA STEEL & ESSAR

Since last April, it has been very difficult to get information in regards to Minnesota Steel and Essar. Both company web sites are not indicating any news. It has not stopped many of us to speculate on if and when this project is going to come about. As I did my research, the only recent news I found was from Businessstandard.com which is an online business paper out of India. This is what they had
to say:

Essar may face delay in Minnesota buyout

Kausik Datta & Ishita Ayan Dutt / Mumbai/Kolkata July 24, 2007

The Essar group  proposed acquisition of Minnesota Steel is likely to be delayed, with the US state authorities taking time in providing the infrastructure required to move the project. The Essar group  proposed acquisition of Minnesota Steel is likely to be delayed, with the US state authorities taking time in providing the infrastructure required to move the project.
Essar Global, a part of the Essar group, had agreed to buy Minnesota Steel, a US based privately held company with iron ore reserves of 1.4 billion tons, nearly three months ago. It had announced to
set up an integrated steel plant with an annual capacity of 2.5 million tons with an investment of $1.65 billion by making use of Minnesota Steel  iron ore mines. Sources known of the development said
Essar had not finalized the deal in the absence of infrastructure, which included the Minnesota state government  spending on laying a natural gas pipeline and connecting roads with a short-line railroad.
The Essar group is yet to get the environmental clearances as well. John C Elmore, president and chief executive officer, Minnesota Steel, said it was a local political issue and the Essar deal
was not contingent on the state  infrastructural support. The project was awaiting environmental clearances, which were expected to come through by August, he added. Sources in Essar are optimistic on the project. They are hopeful of the state government honoring its commitment.
However, some environmentalists have objected to the project, arguing that mines have the potential to disturb wildlife and contaminate soil and groundwater. Essar, which produces more than 8 million tons
of steel annually, has earmarked an investment of over $6 billion over the next five years to increase the steel capacity to 25 million tons. The proposed investment is equal to the group's  present turnover. It had announced that the Minnesota Steel acquisition would emerge as the group
cornerstone in the North American markets. It had also said that the development of Minnesota Steel iron ore mines would allow Essar to be among the low cost producers of steel in the world.

We have new colors in Pengilly!

ICT has had an extreme makeover. The new colors are in sync with Adium and makes the place so inviting. Not only is ICT a wonderful convenience store that sells gasoline but they also sell steaks to beat the band. Those steaks are tender and reasonably priced. So if you find yourself with
drop-in guests and nothing to eat or just want to cook out, remember the orange and white ICT.

Congrats! The Pengilly Centennial Float did not go unnoticed. Our beautiful
float was built by Jean Blaine and believe you me, she is very talented! I am proud
to report that the Pengilly Centennial Float took first place and won the Mayor's
Trophy in Nashwauk and Keewatin parades. The float has traveled to the Coleraine,
Taconite, Nashwauk, and Keewatin. The next parade will be in Bovey.
Doug and I were very proud to trail our beautiful swan & penguin with his new
red, white and blue van. Just our colors! Congratulations Jean for a job well done!

One of our own... Miss Pam's Natural Ways
Did you know that the foot is made up of 28 bones, 19 muscles, 107 ligaments, 31 tendons, 30 joints, 125 sweat glands, 3 arches and yards and yards of blood vessels. Talk about what can go wrong!
Pam Swanson-Nelson is a massage therapist and a certified Natural Health Consultant. She offers services such as:

•  Reflexology
•  Swedish Massage
•  Hot Rock Massage
•  Ear Candling

She provides these services at your home or in Hibbing at the Women  Athletic Club in the Mesabi Mall. Indulge yourself and relief your stress by calling Pam at 969-9422 or 263-8500. Pam offers $5 off 1hr massage to Pengilly Residents.

WHAT'S THE REAL ESTATE MARKET REALLY LIKE?

It is a fact the real estate market is slower than anyone had anticipated.
The following are statistics for the past 4 years from Itasca
County Board of Realtors:
In July:

• 2004 815 Listings 457 Sales
• 2005 924 Listings 290 Sales
• 2006 1213 Listings 381 Sales
• 2007 1497 Listings 344 Sales

As you can see, there are more properties for sale in 2007 and the buyers are not as prominent. One of the reasons is that homeowners need to sell their property before they can buy another one.
This situation is putting the market in a sluggish motion.

Many factors contribute to the sale of a home. Buyers will analyze what they get for their money. Always make sure to listen to your real estate agent when he/she explains the market analysis done on your property before listing We, as real estate agents, know the market and we have access to the sold and active listings. The price on your property must also reflect your motivation. Are you in rush to sell, or simply want to wait for the right buyer. Furthermore, your real estate agent will give you pointers on what to do to improve the look of your property. Many times these pointers are strictly cosmetics, costing hardly anything but improving the resale value drastically or simply making your property more appealing for potential buyers. If your home is a "blast from the past", here are some potential fix-ups returns. This illustration is based on a national average as reported by CNN.

       COST VS VALUE FOR 2006

   PROJECT   % COST RECOUPED

       Mid-Range Homes

Attic Bedroom Remodel 79.9%

Basement Remodel 78.8%
Bathroom Addition 74.9%
Bathroom Remodel 84.9%
Deck Addition 76.8%
Family Room Addition 71.5%
Home Office Remodel 63.4%
Major Kitchen Remodel 80.4%
Master Suite Addition 72.8%
Minor Kitchen Remodel 85.2%
Roofing Replacement 73.9%
Siding Replacement (vinyl) 87.2%
Sunroom Addition 66.3%
Two-Story Addition 83.2%
Window Replacement (wood) 85.3%
Window Replacement (vinyl) 83.7%

    Upscale Homes

Bathroom Addition 72.8%
Bathroom Remodel 77.4%
Major Kitchen Remodel 75.9%
Master Suite Addition 72.7%
Roofing Replacement 72.9%
Siding Replacement (fiber cement) 88.0%
Siding Replacement (foambacked vinyl) 83.1%
Window Replacement (wood) 82.5%
Window Replacement (vinyl) 84.7%

GEORGE AND HIS FANTASTIC FLYING MACHINES

George Kasper grew up in Pengilly. He currently lives here with his wife of 40 years. They have raised 3 children and are blessed with 7 grandchildren. George enjoys aerial views of properties in the area. His interest in aviation carried him to serve 9 years in the civil air patrol out of Grand Rapids. He owns 2 planes, a float, an Avid Flyer that he built himself in 2000. The project took 2 1/2 years to complete. Many of you have already seen him taking off and landing on Swan Lake. His second plane is a Piper Cub 1939 that he completely restored himself which is currently housed in Hibbing. He takes advantage of the air to produce beautiful aerial pictures that he has generously given to the
Pengilly Centennial. One of his other hobbies is radio controlled airplane flying at 1/4 scale! Talk about flying! So when in Pengilly, just look up, you may see George up there!

PENGILLY CENTENNIAL 2008 NEWS

The Pengilly Centennial float was designed and constructed by Jean Blaine. Many hours went into it. Our beautiful swan & penguin paraded in Coleraine on June 30th, on the 4th of July in Nashwauk and Keewatin, and on July 7th at Taconite Centennial. We are happy to report that it won the Mayor's trophies in the Nashwauk and Keewatin parades.
  The Greenway Township board declared July 14th as Mike Orlovich and Ann Miskovich Day. They
were part of the festivities at the Kick-off Family Fun Day, sponsored by the Booster Club. Richard
Ross won the raffle for the aerial pcture of Pengilly. It was a successful and fun day. Mike and
Ann's Dedication t-shirts and mugs are still available. Also, other Centennial souvenirs are available.
Call Jean at 885-2591.

Memory Book

Time is running out for the history/memory book. We feel that there is so much more out there.
Don ft hesitate to contact Barb Shipka at 885-2639 or email her at ezeedays@aol.com . Get your
pictures and story as soon as possible.

Contest!

An essay contest is being held for children, grandchildren, and friends of Pengilly residents---grades
K-2; and grades 3-6; and grades 7-9; and grades 10-12 Prizes will be awarded to the winners.
This contest name is "What I will always remember about Pengilly". Mail your essay by no later than
October 31, 2007 to:
Pengilly Booster Club Essay Contest
P.O. Box 37
Pengilly, MN 55775

Miscellaneous updates

. We now have our power pole put in at the Community Center and it is ready for 2008.
. We are working on a design for a sign for the two entrances to Pengilly for the Centennial.
. The American flag on the hill will soon be completed.
. In October, we will be having a spaghetti feed fund raiser. Watch for the date.

We are grateful for the help we are receiving and want to thank everyone.We are, also, grateful for our sponsors who keep supporting us. Remember, the Pengilly Centennial Planning Committee meets the third Thursday of each month at 6:30 pm at the Pengilly Community Center. Everyone is welcome. Check our website for more information. www.pengillymn.com.