The Milwaukee Post

2 • Milwaukee County Post • June 6, 2014 volume 20, issue number 23 The Milwaukee County Post (ISSN 1544-1776) is published weekly by Conley Media, Milwaukee County 3397 South Howell Ave., Milwaukee, WI 53207 For all departments call: 414.744.6370 General FAX: 414-375-7070 Classifieds: 800-762-6219 ext. 5005 Classified Fax: 262-334-6252 For display advertising inquires: Daryl Skaradzinski: General Manager - ext. 13 dskaradzinski@conleynet.com For editiorial inquires: Dwayne Butler: Editor - 262-513-2626 dbutler@conleynet.com POSTMASTER: Send address changes to the Milwaukee County Post 3397 S. Howell Ave. Milwaukee, WI 53207 Periodicals Postage Paid at Milwaukee, WI. YMCA of Metropolitan Milwaukee files for Chapter 11 bankruptcy By SARAH PRYOR Conley News Service MILWAUKEE – The YMCA of Metropolitan Milwaukee has filed for Chapter 11 bankruptcy and will sell the majority of its real estate assets to pay down the debt. According to a press release from the Metropolitan Milwaukee Y, the organization is planning a restructuring plan that will establish an urban Milwaukee Y consisting only of centers within or very close to the city of Milwaukee. All centers, camps, pro- grams and other commitments are expected to operate uninterrupted throughout the bankruptcy process. The YMCA of Metropolitan Milwaukee's debt exceeds $29 million, with a 2014 budget- ed revenue of $37 million and a 2014 budget- ed EBIDA (Earnings Before Interest, Depreciation And Amortization) of $950,000 – a debt to EBIDA ratio of 30 to 1 – according to the release. "With the added impact of external and internal complications over the past few years, including the recession, intensified competition, millions of dollars in deferred maintenance costs, declining membership and decreasing contributions, the YMCA of Metropolitan Milwaukee's current operating and financial model is not sustainable," YMCA officials said in the release. "While much has already been done to address this situation – including staff layoffs, delaying necessary investments in its centers, freez- ing salaries and benefits and eliminating some program offerings – absent a signifi- cant restructuring and debt reduction, the YMCA of Metropolitan Milwaukee will be insolvent by as soon as this fall." The restructuring plan will include the Rite-Hite Family YMCA, the Northside YMCA, Parklawn YMCA, Downtown YMCA, John C. Cudahy YMCA and Camp Minikani. The YMCA of Central Waukesha County has signed a letter of intent to purchase the West Suburban YMCA, Tri-county YMCA and Southwest YMCA, with a majority of the proceeds from this transaction planning to be used for debt reduction, according to the release. Additionally, the Kettle Moraine YMCA has signed a letter of intent to purchase the Feith Family Ozaukee YMCA. "The YMCA matters to Milwaukee and is worth saving. Serving well over 100,000 mem- bers, of which more than 30,000 are under the age of 18, we provide vital services and pro- gramming that advance healthy living, youth development and social responsibility throughout our shared community," YMCA of Metropolitan Milwaukee President and CEO Julie Tolan said. "Unlike any other fit- ness center, nobody is turned away from the Y because of an inability to pay. And we are connectors throughout our communities, bringing together residents, members, other non-profits, health care systems and corpora- tions for the greater community good." For more info on the Chapter 11 process, visit www.ymcamke.org. Contact Sarah Pryor spryor@conleynet.com Organization plans to restructure; centers expected to be open during process Post Staff WAUKESHA – A Milwaukee man has been charged with a felony count of shoplifting after he was allegedly caught trying to steal almost $600 worth of cologne and perfume from a Brookfield Square store last week. Darnell Bankhead, 44, was charged Thursday, a day after he was arrested in Brookfield. According to the complaint against him, a store security guard saw Bankhead con- cealing several bottles of fragrances and leaving the store. The 20 bottles were worth $589. Bankhead later told police he was stealing due to his heroin addiction, the complaint said. Post Staff The Grant Park 18-hole Women's Golf Club is seeking golfers for this season. The league plays at Grant Park Golf Course in South Milwaukee on Thursday mornings through September. For more information on how to join the league, call Judy at 769-6069. Women's golf league seeking golfers Milwaukee man allegedly tried stealing cologne Mon.-Thurs. 7:30-7:00p.m.; Fri. 7:30-7:30; Sat. 7:30-5:30; Sun. 7:30-4:00 4640 W. 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Carry Out Friday Fish Frys $ 9.95 3 piece Dinner includes: Fries, Coleslaw, Soup and Roll. 6 & 12 Piece Buckets also available. Sunday Special Hot Baked Ham $ 6.99lb. Includes 6 Free Rolls with purchase of 1# Ham. Limit 1 doz. Rolls. In-Store Catering Available Ray's Homemade Deli Party Trays, Cheese, Cheese & Sausage, Shrimp, Fruit Trays, Hearty Meat Trays. Please Order Ahead. Beef & Gravy, Turkey & Gravy, Hickory & cherry Wood Smoked Hams, Honey Glazed Spiral Sliced Ham. We Cater Chicken & Pig Roasts. NON TRANS FAT ••• Custom Cut ••• Meat Package Specials Sides of Beef, Hind Quarters, Pork Loins and more! Happy Father's Day! Gift Certificates Available Church Directory Bay View St. Lukes Episcopal Church 3200 S. Herman St. 414-744-3736 Sunday Worship: 9 am New Berlin First Church of the Nazarene 13535 W. Beloit Road Sunday Worship: 10am www.Firstnazinfo.org 414-425-6430 Oak Creek St. Stephen Catholic Church 1441 W. Oakwood Rd. Masses: Tues 7pm, Wed-Fri 8am, Sat 4:30pm, Sun 8:30 & 10:30am Reconciliation: Tues 6:30pm, Sat 3:30pm For info call: 414-762-0552 www.saintstephenmil.org To advertise in this section, contact Julia at 414-744-6370 ext. 17

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