Cameron Memorial Community Hospital has scheduled a groundbreaking for its new $42 million hospital for 2 p.m. Wednesday. The ceremony will be on the hospital’s Angola campus on land between Gale and South streets.

The project is being financed with two low-interest loans through the U.S. Department of Agriculture.

Construction on the new, 110,500-square-foot building is expected to take 18 months. Afterward, crews will spend 12 months renovating and expanding the existing emergency room, the only piece of the current hospital that will be left standing after the project’s completion. The 16,000-square-foot ER is the newest section of the existing building.

The new hospital will include 25 private patient rooms, three operating rooms and two outpatient procedure rooms. The address will remain the same: 416 E. Maumee St.

J.C. Penney stock suffers hefty loss

J.C. Penney Co. executives may be confident in the department-store chain’s everyday low pricing strategy, but its investors are panicking.

The company’s stock fell more than 13 percent Monday – the biggest percentage decline by far for the day among big companies in the S&P 500 index. Penney stock lost nearly $3 to close at just under $18, its lowest price since March 2009 when the United States was in a deep recession.

The drop follows Standard & Poor’s move to lower Penney’s credit rating deeper into junk status on Friday. And that came on the same day that the company reported its third consecutive quarter of big losses and sales declines since it decided earlier this year to get rid of hundreds of coupons and sales annually in favor of predictable low prices every day.

Blackberry phones to be unveiled Jan. 30

Research In Motion said Monday that it will conduct an official launch event for its new BlackBerry 10 smartphones on Jan. 30. The new phones are seen as critical to RIM’s survival.

The Waterloo, Ontario-based company said Monday details on the much-delayed smartphones and their availability will be announced at the event.

The announcement comes as the company struggles in North America to hold onto customers who are abandoning BlackBerrys for flashier iPhones and Android phones.

Jefferies analyst Peter Misek said the date of the event suggests a late February or March release.