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TUESDAY, AUG. 28, 2018 | IN THIS ISSUE
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 Corridor to host Future Ready Iowa regional summit
The Corridor will host one of the state's Future Ready Iowa regional summits this November, as part of a number of new dates added amid strong interest.
Day-long summits have been added in Des Moines, Cedar Rapids-Iowa City, Elkader and Cedar Falls. The events will bring together key stakeholders in education, business, economic development and community organizations to create local strategies to ensure all Iowans are ready for the jobs of tomorrow.
Summits already announced include locations in Ames, Atlantic, Burlington, Centerville, Creston, Davenport, Denison, Fort Dodge, Muscatine, Pella, Sheffield, Sioux City and Spencer.
The Corridor summit will be held Nov. 13 from 9 a.m.-3 p.m. at Kirkwood Community College's Linn County Regional Center at 1770 Boyson Road in Hiawatha.
So far, more than 850 Iowans are registered for a summit. Iowa Workforce Development Director Beth Townsend said the interest reflects Iowans' willingness to get involved and develop solutions.
"Our summit in Spencer hit capacity three weeks after we opened up registration and others are filling up quickly," she said in a release explaining the need for hosting additional summits. "If you want to get involved in Future Ready Iowa strategies in your community, we want you to be able to attend a summit near you."
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The Iowa Lean Consortium (ILC), a nonprofit formed to promote business efficiency throughout the Iowa economy, has officially merged with Iowa State University's Center for Industrial Research and Service (CIRAS), the organizations recently announced.
In a statement, ILC Executive Director Teresa Hay McMahon said the merger will allow the organization to grow through more administrative and back-office support and CIRAS staff who work throughout the state. The organizations have set a shared goal of doubling ILC's membership over the next two years, according to Ms. McMahon.
"The most important thing is that we'll be able to provide better services and support to our members," Ms. McMahon said in May, when the merger was first announced. "Joining CIRAS will give us the resources to help our current and future members like never before."
No significant changes are expected for ILC's leadership. The organization's board will now serve as the
ILC Advisory Council, providing strategic direction and cross-sector representation to CIRAS.
CIRAS was founded in 1963 as a corporate outreach arm of Iowa State's College of Engineering and currently exists as part of both the College of Engineering and the university's Office of Economic Development and Industry Relations. CIRAS uses a vast network of on- and off-campus experts to provide research-proven services for Iowa businesses in five main areas: Leadership, Growth, Productivity, Technology, and Workforce. Projects with clients have generated an economic impact of more than $2.3 billion over the past five years.
The ILC was formed in 2009 when a cross-section of organizations met to discuss ways to jointly sponsor and deliver lean training events. Today, roughly 130 organizations are members of the Iowa Lean Consortium, which sponsors more than two dozen events and half-day workshops each year, many featuring nationally known experts.
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Rastetter: $300M ag fund will be first of a string
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Bruce Rastetter
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Alden-based Summit Agriculture Group's recently announced $300 million investment fund will be the first in a string, CEO Bruce Rastetter
said in an interview with the Des Moines Business Record.
Summit Ag Opportunities I, LLC, will invest in six to 11 agriculture projects in protein processing, equipment manufacturing and the broad field of renewables such as oils and feed ingredients, Mr. Rastetter said. A second and third fund are planned with the help of Summit's New York investors, and more may be added later.
"The lack of private equity in Iowa has really limited opportunities," said Mr. Rastetter, a Republican Party activist, former president of the Iowa Board of Regents, and onetime leader in the ethanol and hog industries. "I worked with my friends in investment banking in New York to bring capital collectively to Iowa so we can work together to make the whole better.
"What we have had happen is, in the Midwest particularly, there are private companies that have had a founder/owner who is looking for an exit and wants to keep the legacy and to protect the community. The kids went elsewhere, and they are looking for a succession plan for their company."
Since 2009, Summit has been raising money for targeted projects. Those have included a two-site corn ethanol development in Brazil, several land funds in the United States, and the project to open a beef packing plant in Tama. Summit manages about $500 million in assets.
What the new fund does is provide capital for midsize businesses, those with revenues between $25 million and $200 million that face questions as their leaders retire and their children perhaps have moved into other industries.
Summit Ag Opportunities will insist on a majority share of each company in which it invests, but will look to keep present company managers in place as part of a broadened and strengthened management team, Mr. Rastetter said. That way the companies can remain active in the community and avoid a sale to a larger firm that might not be as committed to a Midwestern community.
"We aren't restructuring people," he said. "We take something that is working and make it better."
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The Corridor Business Journal has announced the speaker lineup for its fourth-annual Cybersecurity Breakfast, to be held Sept. 5 at the Coralville Marriott.
This event will invite local experts to discuss recent threats, steps organizations can take to mitigate risks, and what to do if your organization experiences a breach.
Aaron Warner, founder and CEO of ProCircular, will kick off the event with a presentation on the current cybersecurity threat landscape. Additional speakers and topics include:
- Recent Trends in Data Breach Response: Given that no cyber attacks are identical, organizations are finding it more difficult to know what steps need to be taken when an incident occurs. Attorneys Bruce Radke and Martin McElligott, of Polsinelli PC, will discuss current cybersecurity trends and steps to take in response to suspected attacks to lesson your exposure and reputational risk.
- Exploring Cybersecurity Insurance for Your Company: Companies and organizations cannot patch people and, while people are a company's greatest asset, they can also be their biggest threat. Matt Evans, principal and practice leader of TrueNorth Companies, will cover cybersecurity insurance, proactive training and assessments to to reduce your organization's risks.
- Steps Your Company Can Take to Reduce its Risk Profile: Because of the risks associated with today's rapidly evolving cyber threat landscape, it is imperative that organizations take steps to identify and prioritize key process areas. In this discussion, Tauseef Ghazi, principal of RSM US LLP, will share steps any organization can take to begin to reduce their cybersecurity risk profile.
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Gulick named CFO of EdgeData
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Kris Gulick
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Former Cedar Rapids Council member Kris Gulick has been named CFO of EdgeData LLC, a producer of analytical software tools for business.
In his role as CFO, Mr. Gulick will spearhead the planning and implementation of updated processes to scale the company for growth, according to the company, which has offices in Cedar Rapids and Grand Forks, North Dakota. That will include expanding the subsidiary companies under EdgeData and raising capital - a role that Mr. Gulick has already played for the company.
"Kris's experiences are truly immeasurable," said Chris Shroyer, president and co-founder of EdgeData. "He has the background in finance, the interest in our industry and a proven ability to deliver results. He'll make a great addition to our team."
Mr. Gulick in 2005 founded Cedar Rapids-based consulting firm, Entreprenurial Services Group LLC, which focuses on proving financial analysis, reporting and forecasting for dozens of clients. He sold the business in 2017 to Gary Kaufman, shortly after announcing a run for mayor of Cedar Rapids. A CPA by trade, Mr. Gulick also has a substantial background in accounting.
"I'm excited to work with the experienced management team at EdgeData," Mr. Gulick said in a release. "They have laid a solid foundation, and I look forward to helping improve upon their existing processes."
Mr. Gulick's appointment as CFO follows the recent hire of Tammy Heying as business development manager with BladeEdge, an EdgeData company focused on producing analytics software for the wind energy industry. Ms. Heying was most recently responsible for business development with TrueNorth Companies, and previously spent time in sales operations with Marion-based IT and cloud provider Involta.
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From around the web:
- Silicon Valley is taking a (careful) step toward autonomous flying, the New York Times reports.
- Matt Helt, program director of Techstars Startup Week, offers a list of the 10 things that can move a startup ecosystem forward.
- Forbes details the nine habits of good technology partners.
- Charlie Miller, an autonomous vehicle security expert, has been named the headliner of the Iowa Technology Summit, set for Oct. 2.
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Corridor Stocks
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NAME
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SYM |
PRICE |
CHG |
%CHG |
| AEGON |
AEG |
6.06 |
0.04 |
0.66% |
| Alliant Energy |
LNT |
42.60 |
-0.19 |
-0.44% |
| Deere & Company |
DE |
146.50 |
0.30 |
0.21% |
| Dow Jones |
^DJI |
26,064.02 |
14.38 |
0.06% |
| General Mills |
GIS |
45.38 |
-0.49 |
-1.07% |
| GoDaddy Inc. |
GDDY |
81.35 |
1.21 |
1.51% |
| Great Western Bank |
GWB |
43.13 |
-0.02 |
-0.05% |
| Heartland Express |
HTLD |
20.35 |
-0.11 |
-0.54% |
| KemPharm |
KMPH |
4.75 |
0.00 |
0.00% |
| Marsh & McLennan |
MMC |
84.23 |
-0.49 |
-0.58% |
| MidWestOne |
MOFG |
33.78 |
0.02 |
0.06% |
| Pearson |
PSO |
12.01 |
0.09 |
0.76% |
| Pepsico |
PEP |
111.17 |
-1.24 |
-1.10% |
| Principal Financial |
PFG |
56.25 |
-0.19 |
-0.34% |
| QCR Holdings |
QCRH |
43.95 |
-0.05 |
-0.11% |
| Rockwell Collins |
COL |
136.83 |
-0.18 |
-0.13% |
| S&P 500 |
^GSPC |
2,897.52 |
0.78 |
0.03% |
| Tanger Factory |
SKT |
24.30 |
0.30 |
1.25% |
| Procter & Gamble |
PG |
83.48 |
0.04 |
0.05% |
| United Fire Group |
UFCS |
50.34 |
-0.57 |
-1.12% |
| U.S. Bank |
USB |
54.20 |
-0.26 |
-0.48% |
| Wells Fargo |
WFC |
59.07 |
-0.03 |
-0.05% |
| West Bank |
WTBA |
24.05 |
-0.15 |
-0.62% |
| Whirlpool |
WHR |
129.91 |
-0.89 |
-0.68% |
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Short-Term Event Planner
Aug. 29
Launch and Land Your Post-Harvest Marketing Plan, by Hills Bank & Trust, Iowa State University Extension and Outreach, Iowa Farm Bureau, and Linn and Washington County Farm Bureaus, 8:30 a.m.-noon, Hills Bank & Trust, 3204 Seventh Ave., Marion. Receive practical advice to help you execute a post-harvest marketing plan. Free. For more information and to register, visit
conta.cc/2Mo2XYn.
1 Million Cups, by 1MC, 9-10 a.m., Geonetric, 415 12th Ave. SE, Cedar Rapids and MERGE, 136 S. Dubuque St., Iowa City. Join for community connections, startup pitches and free coffee. Free. For more information, visit
facebook.com/1MCICR.
BigWig Lunch Talk: Chris Skogman, by ImpactCR, 11:30 a.m.-1 p.m., Cedar Rapids Public Library - Whipple Auditorium, 450 Fifth Ave. SE, Cedar Rapids. BigWig Lunch Talks (BLT) expose young professionals to seasoned professionals and inspirational leaders in the community. At this event, hear from Chris Skogman, president of Skogman Companies. Free, but pre-registration is required. To register, visit
bit.ly/2nVE37K.
Responding to the Opioid Epidemic, by Holmes Murphy, 1-1:30 p.m., online. Learn how to address opioid misuse, increase your awareness of opioid risks, and ultimately support employees with programs to prevent and manage opioid abuse. Free. To register, visit
bit.ly/2BP5CsX.
Is Your Wellness Program Voluntary?, by Holmes Murphy, 2-2:30 p.m., online. Learn about steps employers can take to ensure their wellness programs are effectively designed, and how to prepare for the new Equal Employment Opportunity Commission (EEOC) rule changes. Free. Register at
bit.ly/2PA2dRT.
Business PM, by Iowa City Area Chamber of Commerce, 4:30-6:30 p.m., Spotix, 2810 Stoner Ct., North Liberty. Meet with area professionals for an evening of casual networking. Free.
Ground Breaking: Tipton Habitat Build, by Iowa Valley Habitat for Humanity, 6 p.m., 1111 Lynn St., Tipton. Celebrate the kick off of the Tipton Build home, which will be built in partnership with Tipton High School students. Free
Aug. 31
Ribbon Cutting: Treasure Cove, by Iowa City Area Chamber of Commerce, 9 a.m., 2301 Second St., Coralville. Help welcome Treasure Cove to the Iowa City business community. Free.
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Headlines from CBS2/FOX 28
These news items are provided by CBS2/FOX 28
A juvenile was arrested and charged after a threat on social media caused all schools in the Linn-Mar Community School District to launch its lock-out procedure. The Marion Police Department says the juvenile is charged with false reporting, a serious misdemeanor. Police tell CBS2/FOX28 news a concerned citizen notified the department on Monday about a Snapchat post that referenced a weapon near Linn-Mar. Police notified district leaders at 12:55 p.m. to follow lock-out procedures. A text message sent to parents obtained by CBS2/FOX28 News said the lock out was put in place at the recommendation of Marion Police. It was lifted within a half-hour. Classes were not interrupted during the lock-out.
The Vinton couple who kept hundreds of dead and live animals inside their home have pleaded guilty to child endangerment and animal neglect. Online court records show that Barbara and Marshall Galkowski each pleaded guilty to three counts of child endangerment and four counts of animal neglect in July. They were each given two years of probation for the child endangerment pleas and fines for the animal neglect pleas. The child endangerment sentences were deferred, meaning their convictions can be removed from court records upon completing their probabtion. On Jan. 16, up to 1,000 animals were rescued from their home in Vinton. Several of the animals were dead inside the home, with other animals living among the carcasses and rotting food. The couple's children also lived in the home at the time. The couple also agreed to release all of their animals, save for a few, to the Cedar Valley Humane Society in a separate civil case.
T
hese news items are provided by CBS2/FOX 28
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CBS2 Chief Meteorologist Terry Swails' Weather First Forecast
A cold front will move through Eastern Iowa today and bring thunderstorms this afternoon and cooler air behind it. It will be partly cloudy, warm and muggy to start the day. Temperatures will climb into the mid 80s and with the humidity it will feel like the 90s to near 100 degrees at times. As the cold front approaches, scattered showers and thunderstorms will break out, mainly after 3 p.m. There will be plenty of instability and moisture this afternoon and strong storms will be possible. Some storms will be capable of producing gusty winds and heavy rain. The front will move through overnight and rain will wind down late tonight into Wednesday morning. Drier, cooler air will settle in for the middle of the week. Temperatures will be in the mid to upper 70s and humidity will be lower Wednesday and Thursday.
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