Des Moines Register Staff Blogs » Biz Buzz

Iowa’s unemployment rate in April drops to 4.7 percent, despite adding no new jobs

Donnelle Eller — Fri, 17 May 2013 14:30:02 +0000

Iowa’s unemployment rate ticked down to 4.7 percent in April from 4.9 percent in March, a new unemployment report shows, even though the state showed no new job growth. It’s the lowest unemployment rate since December 2008, about when the national recession hit the state and Iowa’s unemployment rate was 4.2 percent. Iowa is moving [...]

Branstad announcing ‘largest-ever economic development investment’ this afternoon

Donnelle Eller — Wed, 08 May 2013 15:52:57 +0000

Gov. Terry Branstad and Lt. Gov. Kim Reynolds say they plan to announce “the largest-ever economic development investment in Iowa.” The news conference is scheduled for 4 p.m. at the Capitol. No information was immediately available about the project. Today’s investment announcement would need to exceed $1.8 billion, the amount Orascom Construction Industries plans to [...]

Jethro’s owner gets surprise call from original Jethro

Lynn Hicks — Mon, 06 May 2013 23:14:10 +0000

Out of the blue, Jethro’s owner Bruce Gerleman received a phone call a few days ago. It was Jethro. Max Baer Jr., that is — the actor who played Jethro on “The Beverly Hillbillies,” the inspiration for the Des Moines-based BBQ chain. Gerleman said Baer, 75, had heard of his restaurants. Baer didn’t say, [...]

KCCI changes lineup again, moves anchorwomen Horst, Fodor

Lynn Hicks — Fri, 03 May 2013 17:00:48 +0000

More changes are coming to the lineup for KCCI, the top ranked station in central Iowa. The station confirmed these moves today: • Stacey Horst has added the 5 p.m. anchoring duties to her 6 and 10 p.m. schedule. The move gives KCCI a consistent lineup across the evening, with Kevin Cooney and Chief Meteorologist [...]

Register publisher Laura Hollingsworth to go to Nashville newspaper

Lynn Hicks — Thu, 02 May 2013 19:05:12 +0000

The Des Moines Register’s top executive, Laura Hollingsworth, will become president and publisher of the Nashville Tennessean, Gannett Co. announced today. The move is effective May 13. Hollingsworth will continue to serve as U.S. Community Publishing group president of the Central Group, overseeing 25 markets. Her replacement at the Register has not been named. “We’re [...]

Morning anchor Katie Ward to leave KCCI

Lynn Hicks — Wed, 01 May 2013 18:07:40 +0000

Katie Ward is leaving as KCCI’s morning anchor, the station said today. News Director Dave Busiek said Ward is leaving to take care of her two children, a 3 year old and a 15 month old. Busiek said Ward will leave “sometime this summer” and that her departure has been discussed for some time. “We’ve [...]

Former Iowa Film Office reopens as multimedia Produce Iowa

Michael Morain — Wed, 01 May 2013 17:07:28 +0000

The Iowa Department of Cultural Affairs announced today that it has created a new office of media production called Produce Iowa, four years after the now-defunct Iowa Film Office closed amid a scandal over misused tax credits. The new office’s executive producer, Liz Gilman, set up her office this morning with little more than a [...]

Banks selling Ponderosa buildings in West Des Moines

Lynn Hicks — Mon, 29 Apr 2013 21:36:15 +0000

More bank-owned properties in the Ponderosa development are finding buyers. The West Des Moines commercial and residential development stalled after its developer, Ladco Development, collapsed in 2011. Last week, a tenant bought one of the buildings in a Polk County sheriff’s sale. The quickly growing medication therapy management company, Outcomes MTM, purchased 505 Market St. [...]

QuikTrip out, Casey’s is in at new Fareway site in Pleasant Hill

Timothy Meinch — Thu, 25 Apr 2013 16:30:41 +0000

A contract with QuikTrip for a new gas station in Pleasant Hill has been broken and replaced by an agreement with Casey’s General Store. The gas station will be located at the corner of University Avenue and Northeast 56th Street beside a Fareway grocery store, which is expected to open in the fall. QuikTrip recently [...]

Hy-Vee wants Drake to get Olympic trials

Lynn Hicks — Mon, 22 Apr 2013 23:16:20 +0000

Hy-Vee’s sponsorship of the Drake Relays this week isn’t about boosting supermarket market share, the company says. It’s about making Des Moines faster and stronger. The goals of its three-year Relays sponsorship include positioning Drake and Des Moines to vie for the 2020 Olympic track and field trials, said Donna Tweeten, vice president of marketing [...]

What’s “Siculus”? What does it have to do with Facebook?

Lynn Hicks — Mon, 22 Apr 2013 21:15:28 +0000

Documents from the state and the city of Altoona refer to the data center project as Siculus Inc. That may be a reference to Diodorus Siculus, a Greek historian who produced works between 60 and 30 B.C. He is remembered for his history of the world, called Bibliotheca historica (“Historical Library”), an immense work of [...]

Delta Dental of Iowa chooses new CEO

Lynn Hicks — Fri, 19 Apr 2013 19:01:51 +0000

Iowa’s largest provider of dental benefits has chosen a new leader from the credit union industry. The board of directors of Delta Dental of Iowa has selected Jeff Russell as president and CEO, effective May 3. He succeeds Donn Hutchins, 63, who announced his retirement in November after 13 years in the nonprofit’s top spot. Russell, 41, [...]

Iowa Health System announces new name

Lynn Hicks — Tue, 16 Apr 2013 15:00:34 +0000

Iowa’s largest health system is unveiling a new name amid historic changes in health care. Iowa Health System is now UnityPoint Health. The new name will encompass a system affiliated with 29 hospitals, 280 physician clinics and other sites that employ 24,000 people in Iowa and Illinois. UnityPoint, which has revenues of $2.7 billion, is [...]

John Vratsinas ordered to repay $1.5 million improperly taken from (now dead) construction company

Jeff Eckhoff — Tue, 16 Apr 2013 14:43:41 +0000

Central Iowa businessman John Vratsinas has been ordered to repay $1.5 million as part of a Polk County lawsuit alleging that he improperly siphoned the money out of a failing construction business and placed it in other Vratsinas companies. The court ruling, filed last week by District Judge Robert Hanson in a lawsuit brought by [...]

Wellmark gives early bonuses to executives, saves taxes

Lynn Hicks — Mon, 15 Apr 2013 20:34:51 +0000

John Forsyth and other Wellmark executives received a nice little advance in their pay last year, as the health insurer shielded itself from higher taxes. The CEO received $2,322,821 in December for short-term and long-term incentive pay, according to a footnote in a filing with the Iowa Insurance Division. That’s on top of the $2,623,075 [...]

Former developer John Kline gets 30 months for bank fraud

Jeff Eckhoff — Fri, 12 Apr 2013 15:30:36 +0000

Former developer John Kline will spend the next 2-1/2 years in a federal prison for lying to banks and diverting money from two loans in attempt to prop up his failing real estate business. U.S. District Judge James Gritzner this morning sentenced Kline to 30 months behind bars as part of Kline’s plea agreement to [...]

Des Moines Performing Arts ranks ninth worldwide in ticket sales

Michael Morain — Fri, 12 Apr 2013 14:22:19 +0000

Des Moines Performing Arts (formerly the Civic Center of Greater Des Moines) ranked ninth worldwide for ticket sales in the first quarter of 2013. It’s the first time the organization has cracked the Top 10. Sales no doubt got a boost from good timing. Three of the shows in the current Broadway series opened during the first quarter: “The Book of [...]

New Clive whiskey arrives in liquor stores

Lynn Hicks — Tue, 09 Apr 2013 01:21:25 +0000

A new Iowa-made whiskey is reaching liquor store shelves. Dehner Distillery in Clive shipped 492 bottles of Red Boot spiced whiskey last week, and owner Joseph Dehner said more cases are on the way. Dehner Distillery is part of a micro-distillery boom in Iowa. New producers include Werner Distilling in Holstein and Iowa Distilling Co. [...]

Aviva wins United Way award

Lynn Hicks — Tue, 02 Apr 2013 18:22:04 +0000

Aviva USA received the Spirit of Central Iowa award at today’s United Way of Central Iowa Live United luncheon. The award is the local United Way’s highest honor, presented to one organization each year for excellence in giving, advocating and volunteering. West Des Moines-based Aviva USA employs 1,400 people locally, who have waited with uncertainty [...]

Redevelopment group starts search for downtown Des Moines convention hotel developer

Donnelle Eller — Mon, 01 Apr 2013 20:27:16 +0000

The Des Moines Redevelopment Co. is beginning its search for developers interested in building a 450-room, four-star convention hotel near the Iowa Events Center in downtown Des Moines. In November, the nonprofit development group spent $2.7 million buying land near the events center for redevelopment and it has additional property under control, its request for [...]

Meredith CEO Lacy: We’ll ‘take a close look’ at buying WHO-TV

Lynn Hicks — Mon, 01 Apr 2013 16:13:16 +0000

WHO-TV is going on the market, and Meredith Corp. CEO Steve Lacy says he will take a look at buying the Des Moines station. Local TV LLC, which owns WHO, is putting up its 21 stations for sale, according to reports in Broadcast & Cable and other trade publications. Oak Hill Capital owns the group, [...]

Health insurance co-op gets state license

Lynn Hicks — Fri, 29 Mar 2013 16:34:52 +0000

A new health insurance co-op has received a license to operate in Iowa. CoOportunity Health plans to market policies to Iowans and Nebraskans mainly through new health insurance exchanges created by the Affordable Care Act, or Obamacare. The exchanges, scheduled to open next fall, are to be computerized systems that help consumers and employers compare [...]

Dwolla CEO Milne makes Forbes’ ‘most disruptive’ list

Lynn Hicks — Wed, 27 Mar 2013 23:21:19 +0000

Forbes has named Dwolla founder Ben Milne as one of the “12 most disruptive names in business.” The magazine listed Milne with the entrepreneurs behind Kickstarter, Buzzfeed, UniversityNow and other companies shaking up industries. The list is made up of people “less content to improve the status quo than to blow it up,” Forbes said. [...]

Askren, Zimpleman and Sorensen elected to lead Iowa Business Council

Donnelle Eller — Mon, 18 Mar 2013 16:14:31 +0000

CEOs Stan Askren, Larry Zimpleman and John Sorensen will lead the Iowa Business Council this year, the group announced today. Askren, who leads HNI Corp., the Muscatine-based furniture manufacturer, will serve a second term as the council’s chairman; Zimpleman, chief executive of Principal Financial Group, a retirement services company in Des Moines, was re-elected vice [...]

Des Moines home sales poised to grow this spring

Lynn Hicks — Tue, 12 Mar 2013 16:14:25 +0000

A new sales report points to a warm-up in the Des Moines-area housing market. Des Moines-area home sales increased 10 percent to 539 sales in February compared with a year earlier, the Des Moines Area Association of Realtors said. It was lower than the previous month, however, by 3 percent. But sales contracts in the [...]

Kum & Go outbids Casey’s in Arkansas convenience store battle

Lynn Hicks — Mon, 11 Mar 2013 23:02:38 +0000

Kum & Go won a bidding war against Casey’s General Store for a spot in Fayetteville, Ark., but both Iowa companies ran into a razorback in the home of the University of Arkansas. The Fayetteville City Council agreed last month to sell a 2-acre lot to Kum & Go for $1.1 million to build a [...]

Meredith-Time deal still a possibility, article says

Lynn Hicks — Mon, 11 Mar 2013 20:30:17 +0000

Is the Meredith/Time Warner deal really dead? Maybe not. The publishers walked away from the table last week, and Time Warner said it would spin off Time Inc. into a separate company. Meredith CEO Steve Lacy appeared to keep the door open by saying that “we … certainly remain open to continuing a dialogue on [...]

Waterloo hospital system is 4th to sign ACO contract with Wellmark

Tony Leys — Thu, 07 Mar 2013 18:42:16 +0000

A fourth Iowa hospital-and-clinic system has signed on as an Accountable Care Organization with the state’s largest health-insurance carrier. Wheaton Franciscan Healthcare-Iowa signed the contract with Wellmark Blue Cross and Blue Shield, the insurer announced. Accountable Care Organizations are a new way of reimbursing hospitals and doctors. Instead of just being paid more for each [...]

Survey: Iowa business leaders less optimistic than a year ago

Lynn Hicks — Fri, 01 Mar 2013 17:27:01 +0000

Iowa’s largest employers are less optimistic than they were a year ago, a survey by the Iowa Business Council shows. “Business leaders continue to express a positive, though cautious, economic outlook,” the report released today said. The first quarter survey said more leaders expect sales, capital spending, and employment to remain steady or grow in [...]

Roxanne Conlin: “I’m fine,” recovering from mild stroke

Lynn Hicks — Wed, 27 Feb 2013 19:39:06 +0000

Attorney Roxanne Conlin reports that she is fine after suffering a mild stroke Tuesday. “I’m fine and glad to have my wits fully about me!” she said via Twitter today. Conlin, a former U.S. attorney and unsuccessful candidate for Iowa governor and U.S. Senate, was taken by ambulance from her home to Iowa Methodist Medical [...]

Roxanne Conlin hospitalized with apparent stroke

Lynn Hicks — Tue, 26 Feb 2013 22:40:08 +0000

Attorney Roxanne Conlin apparently suffered a mild stroke and is recovering, her husband said today. Conlin, a former U.S. attorney and unsuccessful candidate for Iowa governor and U.S. Senate, was taken by ambulance from her home to Iowa Methodist Medical Center around 9 a.m., James Conlin said. “It probably was a mild stroke,” he said. [...]

Kemin, Des Moines Social Club team up to produce musical

Lynn Hicks — Mon, 25 Feb 2013 23:00:59 +0000

Let’s say your company needs to roll out a new sales tool to its 600-strong global sales force, from markets as diverse as Brazil, India, China and Italy. How would you do it?

Nominate an employer for Iowa’s Top Workplaces

Lynn Hicks — Fri, 22 Feb 2013 21:09:45 +0000

Do you love where you work? You still have time to tell us about it. We’ve extended the deadline to nominate an employer for Iowa’s Top Workplaces to March 22. Already, 167 employers have agreed to participate in our survey. Last year at this time, we had 102 employers, so we’re off to a great [...]

State to consider $22.5 million in tax credits for Principal Financial’s $285 million modernization project

Donnelle Eller — Thu, 21 Feb 2013 17:40:14 +0000

Principal Financial Group seeks $22.5 million in state tax credits for its proposed $284.7 million investment to renovate its downtown Des Moines campus, state documents show. The retirement services company wants to modernize its downtown buildings, especially so they’re more appealing to information workers who seek high-tech, environmentally friendly spaces. Those workers now earn an [...]

World Food Prize, USDA to expand internships

Lynn Hicks — Wed, 20 Feb 2013 17:13:43 +0000

The U.S. Department of Agriculture and the World Food Prize will work together to expand opportunities for students interested in food and agriculture. Agriculture Secretary Tom Vilsack and Ambassador Kenneth M. Quinn signed a memorandum of understanding Tuesday at the World Food Prize Hall of Laureates in Des Moines. The partnership will enhance the USDA [...]

Article asks: Can Meredith/Time execs power lunch in Des Moines?

Lynn Hicks — Mon, 18 Feb 2013 15:02:25 +0000

Bloomberg Businessweek tackled a vexing what-if last week: If Meredith buys most of Time Inc.’s magazines and moves people to Des Moines, where would those New Yorkers power lunch? The magazine’s answer: Three Orchestrate Management properties – Centro, Django and Zombie Burger – and Embassy Club and Alba. A couple of jabs aside, the piece [...]

Pappajohn cancer company delays IPO

Lynn Hicks — Fri, 15 Feb 2013 16:01:05 +0000

A company owned by John Pappajohn has again delayed its initial public offering of stock. Cancer Genetics of Rutherford, N.J., had planned to go public this week and raise $35 million in the stock offering. But a notice posted today on the Nasdaq stock index’s website said the company decided to postpone the attempt. No [...]

LaValles to run Principal Riverwalk concession, food carts beginning Earth Day, April 22

Perry Beeman — Tue, 12 Feb 2013 18:54:17 +0000

Veteran Des Moines chefs Michael and Lisa LaValle will run the food concession at the Hub Spot on the Principal Riverwalk, where beer, wine, and everything from Maytag Cheese to ice cream will be offered indoors and from outdoor carts beginning Earth Day, April 22. They’ll be teaming with up-and-coming chefs and their longtime friend [...]

Pappajohn’s Cancer Genetics to go public

Lynn Hicks — Tue, 12 Feb 2013 00:30:35 +0000

A company owned by John Pappajohn expects to go public Wednesday. Cancer Genetics of Rutherford, N.J., plans to raise $35 million in the stock offering. Cancer Genetics is a diagnostics company that has developed tests for leukemia, lymphoma and other forms of cancer. The company is offering 5 million shares between $6 and $8. The [...]

Firm looks to hire 200 financial advisers in Iowa

Lynn Hicks — Mon, 04 Feb 2013 18:44:50 +0000

Aging baby boomers are helping fuel the demand for financial advisers. St. Louis-based Edward Jones plans to open 200 locations in the state by 2020. Each location typically has one financial adviser and an office assistant. Overall, jobs for financial advisers are expected to grow 32 percent this decade, according to the U.S. Bureau of [...]

Principal declares namesake, long-awaited Riverwalk open

Perry Beeman — Thu, 31 Jan 2013 19:35:57 +0000

The Principal Financial Group on Thursday declared the $70 million-plus Principal Riverwalk open and ready for bicyclists, walkers, runners, and later this spring, diners. The Hub Spot’s cafe near Court Avenue on the 1.2-mile loop trail should open later this spring, Principal announced. The financial firm that spearheaded and helped bankroll the massive riverfront rejuvenation [...]

Brazil concerns boost soybeans

Dan Piller — Wed, 30 Jan 2013 20:16:06 +0000

Soybeans are posting nice gains today on the Chicago Board of Trade with the front month contract up 26 cents per bushel to $14.77 on concerns about the logistics in Brazil, which this year is set to overtake the U.S. as the world’s leading soybean exporter. The Chicago Board of Trade’s daily commentary said “logistics [...]

Drug maker NewLink to offer more stock for sale

Lynn Hicks — Wed, 30 Jan 2013 15:01:53 +0000

NewLink Genetics Corp. will offer additional stock for sale, the Ames pharmaceutical company announced today. The company expects to grant underwriters a 30-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering. NewLink’s stock closed Tuesday at $11.40. Year to date, the stock is [...]

New faces at KCCI: Albanese, Peng

Lynn Hicks — Mon, 28 Jan 2013 22:41:09 +0000

Patrick Albanese, one of the stars of the “Triple Espresso” play, started Monday as morning traffic reporter on KCCI. News director Dave Busiek said Albanese will do the job for the February ratings period, which begins Thursday, and the station will make a decision on a full-time replacement by the end of February. The job [...]

Free pork lunch offered at Capital Square

Lynn Hicks — Wed, 23 Jan 2013 16:45:42 +0000

The Iowa Pork Producers Association will give away free ground pork and bacon burgers, chips, a drink and ice cream today from 11 a.m. to 1 p.m. at Capital Square in downtown Des Moines. Several thousand people are expected to attend, the pork producers said. Donations to the Food Bank of Iowa will be accepted. [...]

Sale nears on $1.75 million Des Moines property

Lynn Hicks — Tue, 22 Jan 2013 02:00:16 +0000

A million-dollar property is about to sell in Des Moines. The sale of Bill and Wicker Van Orsdel’s 9.8-acre Wicker Park property at 3400 Lincoln Place Drive in Des Moines is pending and is on track to close by early February, said Carolyn Lynner, agent with Prudential First Realty. It’s listed at $1.75 million. Lynner [...]

Meredith lays off 60 company-wide

Lynn Hicks — Fri, 18 Jan 2013 21:51:45 +0000

Meredith Corp. laid off 60 people today, including seven in Des Moines. The media company also said it recorded a special charge of $7 million in its fiscal second quarter, related to “business realignments and selected workforce reductions designed to realize the full value of recent acquisitions, and as part of an ongoing process to [...]

Jackie Schmillen leaves KCCI for KCWI morning show

Lynn Hicks — Fri, 18 Jan 2013 19:03:52 +0000

KCCI morning traffic reporter Jackie Schmillen has left Channel 8 to co-host the “Great Day” morning show on KCWI. Schmillen joins Lou Sipolt and Meteorologist Jason Parkin on the show, which airs weekdays 6-9 a.m. on Channel 23. She’ll start on Monday. “Central Iowa viewers know Jackie and love her energy and enthusiasm. Now they’ll [...]

December unemployment remains flat as Iowa adds just 300 jobs

Donnelle Eller — Fri, 18 Jan 2013 16:02:01 +0000

The state’s unemployment rate ended the year unchanged at 4.9 percent, adding just 300 new jobs in December. For the year, Iowa had 14,400 more jobs than December 2011. A year ago, the state’s seasonally adjusted unemployment rate was 5.6 percent. Nationally, 22 states saw December unemployment rate decrease from November, 16 states and the [...]

United Way sets new record, raises $26.58 million

Lynn Hicks — Thu, 17 Jan 2013 23:00:10 +0000

The United Way of Central Iowa raised a record $26.58 million last year, smashing last year’s total by nearly $1.5 million. It was the second year in row it has set a record. The nonprofit’s goal was $26.5 million. The results were announced today at Principal Financial Group by the campaign chairman, Dan Houston, president [...]