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| Bush threatens to block farm bill extension Wed, 16 Apr 2008 11:55:00 CDT The Bush administration is threatening to block an extension of the farm bill unless lawmakers meet its demands for policy and fiscal changes. |
| Wells Fargo net income falls in first quarter Wed, 16 Apr 2008 10:12:00 CDT Wells Fargo & Co. reported Wednesday that net income for the first quarter slipped by six cents a share as it took a $2 billion pre-tax provision to accommodate credit losses. |
| Rockwell Collins increased dividend by 50 percent Wed, 16 Apr 2008 09:27:00 CDT Communication and aviation electronics manufacturer and defense contractor Rockwell Collins Inc. said Wednesday its board has approved a 50 percent increase in its quarterly dividend. |
| Northwest/Delta would still serve Iowa, experts say Tue, 15 Apr 2008 22:47:00 CDT Iowa airports should be able to maintain Northwest’s and Delta’s service if the airlines merge, experts say, though there are concerns about flights to smaller cities. |
| Wrangling persists as deadline nears for farm bill Tue, 15 Apr 2008 22:46:00 CDT Washington, D.C. - Lawmakers face a Friday deadline to finish a new farm bill even as they continue to wrestle with how to pay for the legislation. |
| Elbert: East Village gaining another mixed-use development Tue, 15 Apr 2008 22:45:00 CDT Developer Tom Howard expects to break ground later this month in the East Village for a five-story mixed-use building that has become an archetype of modern urban development. |
| Iowa Business Briefs: Canstruction collects 26,000-plus pounds of food for pantry Tue, 15 Apr 2008 22:43:00 CDT The 2008 central Iowa Canstruction competition at the Science Center of Iowa this month collected more than 26,000 pounds of food for the Food Bank of Iowa. |
| You should get to know... Sam Erwin Tue, 15 Apr 2008 22:40:00 CDT COORDINATOR OF PARKINSON DISEASE INFORMATION AND REFERRAL CENTER, AMERICAN PARKINSON DISEASE ASSOCIATION, DES MOINES |
| Faces and Places for April 16, 2008 Tue, 15 Apr 2008 22:36:00 CDT NEW JOBS |
| Non-profit group wins free marketing makeover Tue, 15 Apr 2008 12:25:00 CDT Creative Community Options in Ankeny will be the second local nonprofit group to get a free make-over from a local marketing company. |
| Biz Buzz: Three work to lift South Dakota tribe in poorest U.S. county Mon, 14 Apr 2008 23:14:00 CDT Principal Financial Group Chairman J. Barry Griswell is teaming with two Drake University ag law students to help the nation’s poorest county. |
| Federal tax time: It’s time to pay Tuesday Mon, 14 Apr 2008 20:31:00 CDT Relax, folks, if you are reading this before noon, you still at least have 12 hours to cut checks for your 2007 income taxes before penalties kick in. |
| Iowa Business Briefs: Three area consultants form Business Edge Mon, 14 Apr 2008 23:17:00 CDT Barry Pace, Terry Myers and Tom Steen, owners of independent consulting practices, have formed a new venture. Business Edge LLC is a Des Moines-based company that helps small and mid-sized Midwestern companies revitalize, restore or create shareholder value. The group solves leadership, operational and sales issues that limit a company’s ability to attract resources to move to the next level. |
| You should get to know... Neil Timmins Mon, 14 Apr 2008 23:13:00 CDT TEAM LEADER, NEIL TIMMINS HOME SELLING TEAM POWERED BY RE/MAX SELECT, WEST DES MOINES |
| Faces and Places for April 15, 2008 Mon, 14 Apr 2008 23:13:00 CDT NEW JOBS |
| Guard, Reserve honor supportive Iowa employers Mon, 14 Apr 2008 20:54:00 CDT Each year, the Iowa Committee of the Employer Support of the Guard and Reserve recognizes employers throughout the state that provide extraordinary support for military duty by their employees, above what the law requires. |
| New In the Neighborhood Sun, 13 Apr 2008 16:10:00 CDT West Glen Town Center, West Des Moines |
| Rockwell Collins boosts dividend as stock slips Wed, 16 Apr 2008 03:00:00 CST Rockwell Collins announced plans Wednesday to increase its quarterly stock dividend by 50 percent, a move that could help reverse or at least slow the recent slide in the company's share price.The dividend on common shares of Rockwell Collins stock will increase from 16 cents to 24 cents per share on the dividend payable June 2 to shareholders of record at the close of business on May 12.The price of Collins stock has declined from a 52-week high of $76 to less than $62 per share in recent months. Although Rockwell Collins' stock trend has tracked the general movement of the market, it may be more pronounced due to financial difficulties facing United States airlines and recent Rockwell Collins defense contract losses on the U.S. Air Force aerial refueling tanker program and the Joint Tactical Radio System.Shares of Rockwell Collins stock were virtually unchanged at $61.62 after mixed early trading. |
| Quad Cities to Iowa City rail study arriving with fanfare Tue, 15 Apr 2008 03:00:00 CST If record gas prices are the key to generating support for rail service, a feasibility study on a proposed Amtrak route from the Quad Cities to Iowa City slated for release Friday is arriving at a good time.Although preliminary findings on Amtrak's study into the feasibility of rail service from the Quad Cities to Iowa City are known, the completed package will arrive Friday with fanfare.State transportation officials, railroad officials, local leaders, lawmakers, Amtrak officials and rail passenger advocates will be on the podium Friday morning at the University of Iowa's Iowa Memorial Union, where the study will be released at 10 a.m.The train would take the east-west line of the Cedar Rapids-based Iowa Interstate Railroad between the cities. The service would originate in Chicago if Illinois lawmakers agree to a recommendation to fund a Chicago-to-Quad Cities line covered by an earlier feasibility study.The fanfare surrounding the release is partly about generating political interest in the route, which would require government funds for major track upgrades and operating assistance to get off the ground.Preliminary data released by Iowa Department of Transportation rail planners in February show the route would generate 60,700 riders a year if service is run at 60 m.p.h., and 76,100 riders per year if the service operates at 79 m.p.h.The big difference projected between the two service levels would be the cost of upgrading the railroad line to accommodate the proposed speeds. The preliminary data indicated $35.5 million in upgrade expenses would be needed to reach a 79 m.p.h. train speed, and $26 million in upgrades would be needed for a 60 m.p.h. service.Rising fuel costs for motorists and increased traffic congestion on Interstate 80 could help make the political case for the route. Federal energy analysts project gasoline prices will eclipse $4 per gallon this summer, and the stretch of I-80 between Iowa City and the Quad Cities is becoming more congested.Rising gasoline prices are beginning to reduce motor vehicle miles traveled, resulting in stagnant motor fuel tax collections and therefore less money for highway maintenance and reconstruction.Transportation budgets are already highly strained, however. The Iowa Department of Transportation foresees a $4 billion shortfall in funding for essential transportation infrastructure over the next 20 years.Rail advocates are expected to argue that Iowa should invest more in rail passenger travel because it is more energy efficient and environmentally friendly.Amtrak has already begun another study on the feasibility of extending rail passenger service from Iowa City to Des Moines.n Contact the writer: (319) 398-8317 or david.dewitte@gazettecommunications.com |
| Westdale Mall on the market for $18.5 million Tue, 15 Apr 2008 03:00:00 CST The opportunity to buy Cedar Rapids' largest mall has generated a good amount of interest since the property was listed for sale last month, but it could still be two years or more before the mall sees any big changes, real estate experts say.Park National Bank of Chicago, which took title to the mall in a foreclosure action last year, listed the property for sale at $18.5 million in March. The Cedar Rapids City Council had placed a development moratorium on the mall last spring, hoping to encourage a comprehensive redevelopment of the area. But the city's moratorium appeared to dampen redevelopment interest in the mall, and it was lifted in December under pressure from real estate professionals and the public.The $18.5 million purchase price includes the mall structure and land, minus the anchor store location under lease to Steve and Barry's University Sportswear, which is separately owned.Two other out-parcels are being offered separately for $4.975 million by a corporate entity associated with the former owner, according to Scott Byers of NAI/Iowa Realty Commercial, which is managing that listing. They are a 6-acre parcel that includes the former Big Lots store and a 5-acre parcel that includes a PRC call center, Cabo Grill, and a retail building that formerly included the Westdale Cinemas.The mall has struggled with declining occupancy since the opening of Coral Ridge Mall in Coralville in 1998. It is now about 57 percent leased.Tim Sharpe, vice president of C.B. Richard Ellis/Hubbell Commercial in West Des Moines, has the listing on the main Westdale Mall property."We've had quite a bit of interest on a national basis," Sharpe said.Finding a buyer that can pull off a deal in today's difficult retail and lending market will be a challenge, Sharpe acknowledged."The capital markets are in disarray and retail is weak," Sharpe said, "but I don't look for that to continue."Sharpe said some potential purchasers have discussed a full reconfiguration of the mall property, while others have discussed a partial reconfiguration. He said putting together any redevelopment plan for the property "will take quite a bit of time."Retail has changed since the mall was built almost 29 years ago, with more retailers opting for strip centers or detached "big box" stores that do not require them to pay as much for common area maintenance as malls.Sharpe said whoever buys the mall should ideally buy the out-parcels, and, if possible, the Steve and Barry's anchor building to maximize control over the area's development."Hopefully, we're on the path to begin the process to getting the center into the right hands so it becomes an asset to the city," Sharpe said. He said the city's support of any redevelopment plan will be an important factor, because tax incentives may be an important inducement.Byers said many big retail developers have reduced or halted altogether their work in second and third-tier markets because of the cooling economy. He said two of the things Westdale has going for it are the relative strength of the Cedar Rapids economy and the attractiveness of the Westdale Mall area for retail. |
| Winnebago to halt production for a week Fri, 18 Apr 2008 23:46:00 CDT All but one production line will be shut down Monday because of sluggish sales. |
| Triple ’F’ for sale; soy foods become new focus Fri, 18 Apr 2008 23:43:00 CDT Triple "F" Inc., a 47-year-old feed and food business based in Urbandale, closed its PharmTech International division Friday and has put the rest of the business up for sale, President Leroy Hanson said. |
| Stine Seed hits the track as race car sponsor Fri, 18 Apr 2008 23:41:00 CDT Adel, Ia. — Stine Seed Co. is teaming up with the Clement Racing Team to sponsor a race car — No. 46 Clement Racing Ford Fusion. |
| Bank sues C.R. insurer over losses Fri, 18 Apr 2008 22:59:00 CDT Transamerica Life Insurance Co. said it intends to fight a lawsuit that claims the Cedar Rapids-based insurer neglected to do all it could to prevent a client from losing what it claimed was more than $300 million on life insurance policies. |
| Winnebago shutting down for one week Fri, 18 Apr 2008 16:36:00 CDT Rising fuel prices made themselves felt again Friday when Winnebago Industries Inc. of Forest City told workers that all but one production line will shut down for a week beginning Monday because of sluggish sales. |
| Cedar Rapids-based Transamerica sued by Fifth Third Bank Fri, 18 Apr 2008 16:33:00 CDT Transamerica Life Insurance Co. said it intends to fight a lawsuit that claims the Cedar Rapids-based insurer neglected to do all it could to prevent a client from losing what it claimed was more than $300 million on life insurance policies. |
| Denmark biotech company expands U.S. operations to Ames Fri, 18 Apr 2008 14:45:00 CDT A Denmark-based biotechnology company that makes enzymes for ethanol producers said it will open an Iowa office and laboratory next week. |
| East chamber hires new executive director Fri, 18 Apr 2008 13:29:00 CDT The board of East Des Moines Chamber of Commerce has hired Janet Green as its first full-time executive director. |
| Bush OKs farm bill extension, but dispute persists Fri, 18 Apr 2008 13:25:00 CDT Washington, D.C. — President Bush agreed today to give Congress another week to work out a new farm bill. |
| Hampton glass coating company to close Fri, 18 Apr 2008 13:20:00 CDT A company that makes coating for glass used in cars, homes and businesses has announced that it will close its plant in Hampton this fall. |
| Elbert: Retiring Principal CEO to lead D.M. charitable group Thu, 17 Apr 2008 23:46:00 CDT A couple of years ago, Principal Financial Group chief Barry Griswell was at a social gathering at Meredith Corp. with Johnny Danos, when Griswell remarked to Jim Cownie: "Someday I’d like a job like his." |
| Senate approves extending farm programs for 1 week Thu, 17 Apr 2008 23:38:00 CDT Washington, D.C. - The Senate gave final congressional approval Thursday afternoon to a one-week extension of farm programs. |
| Wind energy company chooses Newton Thu, 17 Apr 2008 23:43:00 CDT Texas-based Trinity Structural Towers says it plans to bring a $21 million wind tower factory and 140 jobs to Newton. |
| Iowa Business Briefs: DuPont buys stake in farm tech company Thu, 17 Apr 2008 23:43:00 CDT DuPont has purchased an equity stake in Farms Technology as part of its strategy to create additional value for its customers and grain buyers, the company announced Thursday. Specific details about the purchase were not released. |
| Faces and Places for April 18, 2008 Thu, 17 Apr 2008 23:43:00 CDT NEW JOBS |
| You should get to know... Gloria Dayton Thu, 17 Apr 2008 23:40:00 CDT NURSE ADMINISTRATOR, ENDOSCOPY CENTER; MANAGER, GASTROENTEROLOGY DEPARTMENT; AND FLOAT POOL CLINICAL MANAGER, THE IOWA CLINIC, WEST DES MOINES |
| Kemin donates samples to UI Thu, 17 Apr 2008 14:56:00 CDT Kemin Industries has made a contribution of 34,365 soil samples and 39,662 microbial strains to the University of Iowa’s Center for Biocatalysis and Bioprocessing for an early stage screening for various enzymes. |
| Senate approves farm bill extension Thu, 17 Apr 2008 14:01:00 CDT Washington, D.C. - The Senate gave final congressional approval this afternoon to a one-week extension of farm programs. |
| Pioneer plans Iowa improvements Thu, 17 Apr 2008 11:38:00 CDT Johnston-based Pioneer Hi-Bred says it plans to spend $42.5 million to grow its Iowa operations. |
| Wind company gets grant for Newton plant Thu, 17 Apr 2008 10:53:00 CDT State officials agreed to provide a $630,000 grant today to a Dallas-based company that has proposed bringing a $21 million wind tower production plant to Newton. |
| Griswell to lead DM Community Foundation Thu, 17 Apr 2008 10:43:00 CDT Principal Financial Group chairman Barry Griswell was selected this morning to replace Johnny Danos as president of the Greater Des Moines Community Foundation. |
| West Bancorporation net income holds steady Thu, 17 Apr 2008 10:22:00 CDT West Bancorporation Inc. reported Thursday that net income for the first quarter was comparable to year-ago levels. |
| HNI blames profit drop on economy Thu, 17 Apr 2008 09:29:00 CDT Muscatine-based office furniture and supply manufacturer HNI Corp. said first quarter profits fell by 81 percent to $4 million, or 9 cents per share, during the first quarter ended March 29. |
| New farm bill lacks development money Wed, 16 Apr 2008 23:13:00 CDT The future of some farm programs is clouded by the government’s tight budget situation. The lack of money in the farm bill means that communities probably can count on less federal assistance. |
| Earnings dip again for Wells Fargo Wed, 16 Apr 2008 23:07:00 CDT Wells Fargo & Co.’s first-quarter profit fell 11 percent as its loan losses grew. Its Des Moines area-based home lending units posted mixed results. |
| Faces and Places for April 17, 2008 Wed, 16 Apr 2008 23:06:00 CDT NEW JOBS |
| You should get to know... Jennie Smith Wed, 16 Apr 2008 23:03:00 CDT PERSONAL LINES ACCOUNT EXECUTIVE, GATEWAY INSURANCE SERVICES, ANKENY, AMES, IOWA FALLS |
| More business edge blogs Thu, 17 Apr 2008 18:47:00 CDT Business edge blog posts |
| Amtrak says Quad City to Iowa City route could work Fri, 18 Apr 2008 03:00:00 CST Iowa rail passenger service backers have their eyes on Illinois after an Amtrak study released Friday indicated extending rail passenger service proposed from Chicago to the Quad Cities on to Iowa City is feasible.Amtrak delivered the welcome news Friday that the route extension to Iowa City would not require huge public subsidies to operate. Findings on an earlier study of rail passenger service from Chicago to the Quad Cities were also positive, but the Iowa General Assembly has not yet acted on a recommendation to fund that service.Iowa City has not had rail passenger service since the Rock Island Railroad dropped its service in the early 1970s, but the old Rock Island depot on Wright Street remains potentially usable with some upgrades and renovations.Creating the service would require an initial public investment of about $32.5 million mainly for track upgrades, active signals"Actually, the numbers are much better than I would have predicted," said State Rep. Dave Jacoby, D-Coralville, who sponsored a bill that brought Iowa into the Midwest Interstate Rail Passenger Compact. "The only piece I thought was missing was throwing in that rail link to Cedar Rapids."Amtrak expects the Iowa segment of the route to generate between 60,700 and 76,100 passengers per year, many of them trips generated by the University of Iowa in Iowa City. That would roughly double Amtrak's current Iowa ridership on the California Zephyr and Southwest Chief, which totaled about 61,377 in 2006.Universities are magic when it comes to generating rail passengers, explained Ray Lang, Amtrak senior director of National-State Relations.Illinois' growing rail passenger program could not be viable without the strong traffic generated by Southern Illinois University-Carbondale, Northern Illinois University and the University of Illinois, Lang said.A letter from Iowa Gov. Chet Culver supporting the route was read by Nancy Richardson, the Iowa Department of Transportation director who requested the study, and has since requested a second study of continuing the service to Des Moines.Richardson said enthusiasm for passenger rail service is at the highest level she has seen in her transportation career, driven by high fuel prices, growing congestion, and environmental concerns.As a practical matter, the proposed service has no chance unless Illinois goes ahead with its recommended service to the Quad Cities. Coming up with Iowa's roughly $32.5 million share of the capital improvements needed for the route would be the biggest obstacle to making the project reality.Iowa and Illinois would have to work out a way to come up with about $6 million per year in subsidies for the route, a fairly modest amount compared to new passenger rail service being considered elsewhere in the United States.A 79-m.p.h. route would require the lowest projected subsidy and#8212; $6 million and#8212; but would also require the highest capital costs and#8212; $54.9 million and#8212; for the two states combined.Iowa City Mayor Regenia Bailey said demand for Chicago service isn't limited to university students from Chicago."For many years, I have heard Iowa City residents say, "If only there was a train I could go to Chicago for the weekend."Bailey said the depot's owners are excited about the potential of bringing it back to its original function.Richardson said the effort to bring rail to Iowa City will be a "true partnership." She said two Iowa congressmen serving on the House Transportation and Infrastructure Committee, Democrats Leonard Boswell and Bruce Braley, are in a position to help Iowa secure needed funding assistance. |
| Eye spy traffic on I-380, I-80 Fri, 18 Apr 2008 03:00:00 CST As a Johnson County deputy responded to an accident at the interchange of Interstates 80 and 380 last week, Sheriff Lonny Pulkrabek watched from a computer at the Sheriff's Office via the state's new I-80 webcams.Pulkrabek was amazed. "We could see our deputy get out of his car and walk up to the scene, with cars whizzing past so close it looked like they might hit him," Pulkrabek recalled. Public safety officials in Johnson County are seeing the world in a different way following the recent activation of the Iowa Department of Transportation's interstate highway webcam system in the Johnson County area.Fourteen webcams have been installed along the interstates just in time to provide images of traffic during the I-80 widening project and the I-380 resurfacing project that will be in full swing all summer and fall.Ten cameras are on I-80 from east of the Hoover Highway to west of the rest areas near Tiffin. On I-380, the system extends from Forevergreen Road to Penn Avenue.Web surfers who have the right Web browser and download free software will be able to use the system to check traffic conditions on the DOT's 511 Web site: www.511ia.orgMike Jackson, DOT's director of special projects, helped train local public safety dispatchers on the system Wednesday. Jackson said the main advantage of the system will be helping dispatchers pinpoint the location of traffic accidents and breakdowns so they can help first responders reach them more quickly."A lot of time is spent by law enforcement officers in finding the scene of an incident," Jackson said. By controlling the webcams remotely, he said, dispatchers will be able to pinpoint the location and even provide a preliminary assessment of the accident scene to determine the emergency responders needed.Pulkrabek said the system won't be used all the time because dispatchers typically are "bombarded" with 911 calls during a major emergency. They won't neglect their other duties in order to view the webcams.By the end of summer, the webcam system will be extended north on I-380 to the south side of Cedar Rapids, Jackson said.The webcams won't be used to write tickets or for other "big brotherish" activities, Pulkrabek said. He said it's unlikely public safety officials can tell the license numbers of passing vehicles or if the occupants are wearing seat belts.The webcam system cost about $1.2 million, an amount that includes sensors used to detect traffic stoppages and slowdowns shown on the state's 511 Web site. It is part of a larger $3 million system that includes message signs and a radio traffic alert system that will be activated later this summer. |
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