Media

So that took awhile

l3wis January 5, 2026 2Comments

I let the cat out of the bag in December that Gage had sold, but I knew about the sale months in advance and was waiting to see if the local media would report on it. SF Bizzo was the first to report on the sale (which I am assuming she was PAID to print the article). My suspicions were correct;

The acquisition of Gage’s assets came amid significant financial challenges for the company. Gage became employee-owned when its ESOP was formed in 2007, and the value of that ESOP had dropped to 1.5 cents per share, which went to zero after necessary administrative and professional expenses were paid, according to a letter sent to shareholders.

It communicated that Gage “has navigated significant financial challenges” over the past several years, including “persistent cash-flow constraints, the general slowdown across the construction industry and the company’s broader financial trajectory,” which ultimately required pursuing an investor “to ensure the long-term stability of the business and protect the interests of its shareholders.”

The letter continued: “We know this is not the outcome anyone hoped for and sincerely regret the impact this has on you.”

The Gage real estate in northeast Sioux Falls was owned separately. Part of it was purchased in November for $14.4 million, according to Minnehaha County records, though it’s not clear what that includes. The property includes a highly automated 200,000-square-foot production facility that opened in 2019 at an estimated cost of $40 million and a two-story office building.

So why hasn’t the media touched this? Well, there is the obvious screw job to employees there is also the involvement of cemetery fraud). I found it funny that the company that BOUGHT* them was the one to pay a news service to break the story, this tells me the heat in the kitchen hasn’t been good.

*Talk about a misleading headline;

Gage Brothers becomes part of Minnesota-based concrete company

If I sell my house to another family, I don’t get to move back into the house I just sold them and become a PART of their family. The business SOLD to a competitor because they were facing bankruptcy, this isn’t a partnership.

UPDATE: Stormland is also reporting on it, after what appears to be a press release sent to the media. The the new owners are giving former Gage employees who stayed on with Molin a ESOP option with their company, but I am assuming those investments will start from scratch because if you were to bring in hundreds of employees in it would reduce the value of the ESOP stock for current Molin employees.

The Libertarian Media Hypocrisy

l3wis August 8, 2025 1Comments

Well, you know how it goes, when you can’t tough it out in the real world, you suck on the government teet. The Skab has been successful in scooping up public notice revenue all over the region because of a moronic law in Pierre that requires local governments to PAY a local publisher YOUR TAX DOLLARS to print public notices.

I know, as someone who is all about transparency, I’m not sure I am benefitting from this unless I have a magnifying glass to read the 4 PT type. I have argued several times you would save the taxpayers millions in this state if we just required to have the documents online, available for print outs at local libraries, city halls, police stations, etc. instead wasting ink and newsprint. This isn’t a Skab issue, it is an issue across the state.

What ever happened to the media being supported by subscriptions and advertising, and GOOD truthful non-partisan news? People would pay for that. I also laugh about the supposed libertarian slant of the Skab while they have their hands in the cookie jar all the while complaining about Noem’s misuse of state funds. We get to see misuse every time we see your rag. And what about more ‘regional’ coverage? And the weekly ‘Where’s Jon Hansen’ column doesn’t count.

I have noticed that since they started printing the notices, the paper has become much thicker, but the NEWS(?) content has become much smaller. Must be spending a lot of time finding ways to spend our money.

But hey, I don’t blame the Skab for this cashflow, everyone has their ‘NUT’, I blame the unethical Sioux Falls City Council for setting the precedent after every single one of them voted for this after receiving campaign funds and advice from one of the Skab’s investors, King Paulson. One of the most corrupt, unethical, quid pro quo votes I have ever seen. Never once did they question the investor, they just marched forward and purposely hid it from the public. Then they wonder why the public screams at them at public input. Your inactions speak louder then words.

I know at least one legislator has tried to revise this law, Greg Jamison, but it is always met with massive opposition from the newspaper association. I have argued in the past, if your news content and advertising is good you should be able to support yourself, why do you think I only make $600 a year 🙂 do the math.