MONDAY, JAN. 20, 2020 | IN THIS ISSUE
• BAE Systems buying Collins Aerospace GPS assets
• Greater Iowa City Area Home Builders celebrating 60th year
• New GoDaddy logo aimed at entrepreneurs
• United Way of Johnson & Washington Counties celebrate centennial
• CBJ series to examine healthcare costs to business
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BAE Systems buying Collins Aerospace GPS business
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Collins Aerospace has agreed to sell its Military Global Positioning System (GPS) business to BAE Systems plc in a $1.925 billion to satisfy antitrust concerns related to the merger of its parent company, United Technologies Corp. with Raytheon Corp.
BAE plc is a leading multinational aerospace, defense and security firm based in the United Kingdom. It was formed in the 1999 merger of British Aerospace and Marconi Electronic Systems.
BAE also announced over the weekend that it plans to acquire Raytheon’s Airborne Tactical Radios business for $275 million in cash.
The GPS business, employs about 675, most of them located in Coralville and Cedar Rapids. After the close of the acquisition, it will become part of BAE’s Electronic Systems business.
A BAE spokeswoman said the GPS business will remain in Cedar Rapids.
“Upon a successful closing of the acquisition, the UTC employees will remain in their current Cedar Rapids facility and become employees of BAE Systems," said Caitlyn Hayden, senior vice president of communications for BAE Inc., in an e-mail. "We will continue to manufacture the business’ GPS products at that site, until we transition to a new site in Cedar Rapids."
The GPS business is
expected to have 2020 revenues of approximately $359 million, and experience a compounded annual growth rate of more than 10 percent over the next four years.
"These proposed acquisitions present a unique opportunity to add high quality, technology-focused businesses to our Electronics Systems sector,” BAE Chief Executive Officer Charles Woodburn said in a news release. “It’s rare that two businesses of this quality, with such strong growth prospects and close fit to our portfolio, become available.”
GPS systems are at the forefront of modern defense technology, providing accurate time and location information utilizing a system of earth-orbiting satellites. They are critical to targeting, navigating drones, and navigating vehicles ranging from fighter and bomber jets to ships. Collins Aerospace GPS systems are on approximately 200 ground-based systems, 40 airborne systems and 40 weapons systems.
The Collins Aerospace GPS business is developing the next generation M-Code GPS technologies, mandated by Congress for all U.S. military GPS user equipment after October of this year. Utilization of M-Code increases security, availability and integrity of the systems, helping to prevent jamming by hostile forces.
The asset sales are expected to close at "broadly the same time as the Raytheon-UTC merger," which is currently estimated to be in the first half of 2020, Ms. Hayden said. She said no layoffs are expected.
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Greater Iowa City Area Home Builders celebrating 60th year
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The Greater Iowa City Area Home Builders Association (HBA) is celebrating its 60th anniversary this year.
On May 24, 1960, the Iowa-City-based association received its charter from the National Association of Home Builders, its parent organization. Since then, the association has been engaged in activities to support, promote and strengthen businesses engaged in local homebuilding, thereby enabling more residents to achieve the dream of home ownership.
Today, the HBA has more than 350 members representing builders,
remodelers, developers, suppliers, designers, engineers, real estate brokers, accountants and more. The association’s Vocational Training Council supports area schools, encouraging youth to consider a skilled-trades career.
“We are proud of the roots we’ve put down in the greater Iowa City area and our efforts to help develop our communities,” Glenn Siders of Siders Development, the 2020 Iowa City Area HBA president, said in a news release “We look forward to remembering the past this year and continuing to build our legacy as we grow our future.”
Special commemorations will occur throughout the year via events, social media and more. Follow it on
Facebook at
IowaCityAreaHBA
and Instagram at
icareahba
.
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GoDaddy unveils new logo aimed at entrepreneurs
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Web services provider GoDaddy Inc. has unveiled a new logo, called “the GO,” that’s designed to reflect its connection to entrepreneurs, and how it “brings together humanity and technology to serve them like no other.”
“The GO says to our community that they can stand on their own two feet and go do what they love,” Chief Brand Officer Cameron Scott said in a release. “When entrepreneurs see the GO, they know they have someone standing in their corner, championing their every step along the way, to turn their ideas into reality.”
The company, founded by Hiawatha entrepreneur Bob Parsons, has evolved from its earliest days as a name registrar and web hosting company to offer a full suite of cloud-based tools for entrepreneurs, including its recent introduction of Websites + Marketing, a website builder with integrated marketing tools for small businesses.
Headquartered in Scottsdale, Arizona, the company counts 19 million customers worldwide, and employs hundreds of customer service representatives in Hiawatha.
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United Way of Johnson & Washington Counties celebrate 100th
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United Way of Johnson & Washington Counties’ is celebrating 100 years of service and is inviting the entire community to their 100th Year Celebration culminating event “Cheer to 100 Years.”
The event will be Feb. 8 at Coralville Marriott Hotel and Conference Center, 300 E. Ninth St. Doors will open at 6:30 p.m. and the celebration will include six era-themed rooms and three live bands.
The era themed rooms will be from the ‘20s, ‘50s, ‘70s, ‘80s, ‘90s, and 2000’s and filled with décor, games, music, food and drink from each time period. Experiences will include a 1920s speakeasy, iconic impersonators from the 1950s, disco dancing from the 1970s, real arcade games from the 1980s, Nerf wars from the 1990s and Wii games from the 2000s.
On the GreenState Credit Union main stage there will be three live local bands:
- 7-7:45 p.m. Dogs on Skis for the 70’s
- 8:15-9 p.m. Plastic Relations for the 80’s
- 9:30-10:15 p.m. Daddy’s Brother Band for the 90’s and 00’s
Guests will be encouraged to dress in their favorite era clothing and travel through time by participating in each room’s unique events. Tickets are $50 and may be purchased
here
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Employer input sought for new CBJ healthcare cost series
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The CBJ is prepping for a new feature series on the cost of health care, and we're looking for your input as an employer, business owner or HR representative.
We want to know, have premium increases forced your company to change your plan design? Have you had to drop employee or dependent coverage because of escalating costs? Have you found strategies that work to lower your premiums?
This survey is short and confidential, so we hope you'll weigh in to share your company's experiences. Take the survey
here
, pass it along to other interested employers, or reach out to Dave DeWitte at
dave@corridorbusiness.com
to share your thoughts directly. We'll also be rolling out a survey aimed at employees' experiences in the near future. Thanks for helping us produce more insightful, local journalism.
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Short Term Event Planner
Jan. 20
Planet 3 Extreme Air Park Ribbon Cutting,
by Iowa City Area Chamber of Commerce, 4-5 p.m., Planet 3 Extreme Air Park, 851 Highway 6 E., Ste. 102, Iowa City. For more information, visit
bit.ly/356BQJO
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Jan. 21
Iowa City Roundtable,
by Iowa City Area Chamber of Commerce, noon-1 p.m., India Café, 227 E. Washington St., Iowa City. Members are invited to network and keep up to date with chamber and community events. Free. For information, call (319) 337-9637.
Jan. 22
1 Million Cups
, by 1MC Cedar Rapids, 8:15-9:15 a.m., Geonetric, 415 12th Ave. SE, Cedar Rapids. Join for community connections, free coffee and presentations by entrepreneurs, established companies, experts and more. Free. For more information, visit
facebook.com/1MCICR
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1 Million Cups
, by 1MC Iowa City, 9-10 a.m., MERGE, 136 S. Dubuque St., Iowa City. Join for community connections, free coffee and presentations by entrepreneurs, established companies, experts and more. Free. For more information, visit
facebook.com/1MillionCupsIC/
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Economic Forecast Luncheon,
by Corridor Business Journal, 11:30 a.m.-1:15 p.m., Coralville Marriott, 300 E. Ninth St. Kevin Depew, deputy chief economist with RSM US LLP, will offer a keynote on the economic outlook for 2020, followed by a panel of regional business leaders moderated by Jack Evans, chairman of the Hall-Perrine Foundation. Tickets: $55 until Jan. 15, $70 after; $550 for table of 10 until Jan. 15, $700 after. To register, contact Ashley Moore at
ashley@corridorbusiness.com
or (319) 665-6397, Ext. 3.
Jan. 23
Small Business Breakfast Roundtable,
by SCORE East Central Iowa, 7:30-9 a.m., Scott’s Family Restaurant, 1906 Blairs Ferry Road NE, Cedar Rapids. This networking opportunity offers a chance to share best practices and get help with business challenges. Free. To register, visit
conta.cc/35uaw9f
.
Marion State of the City Luncheon,
by League of Women Voters of Linn County and city of Marion, 11:30 a.m.-1 p.m., Cedar Rapids Marriott, 1200 Collins Road NE. Mayor Nicolas AbouAssaly will review the city's accomplishments of the past year and look ahead to 2020. Cost: $41.18, or $401.18 for a table of 10. Register at
wvlinncounty.org
.
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Get in the know
Forward the FREE CBJ Business Daily newsletter to your friends and colleagues, and share the feeling of being informed! Use our fast, one-minute subscription to the CBJ's newsletters
here, or check out our other subscription options
here.
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Headlines from CBS2/FOX 28
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These news items are provided by CBS2/FOX 28
One person is injured after being involved in a car accident in Linn County. The Linn County Sheriff's Department says on Saturday just before 12:30 p.m., they responded to a collision at County Home Road and Lucore Road. Once deputies arrived, they found a two vehicle crash about 100 yards east of that location. A car driven by Jeffrey Meyer was traveling west bound on County Home Road, when he went across the center line due to ice, and hit a car going east bound in the other lane. The eastbound car was driven by Alexandra Fish. Mr. Meyer declined medical attention. Ms. Fish was transported to St. Luke's for what is reported as possible non-life threatening injuries.
Right now in Iowa, you're not going to see anyone outside getting their tan on, but getting into a tanning bed is another story. Sunday at the Hall-Perrine Cancer Center, doctors and skin cancer survivors shared their stories about the dangers of sun exposure and tanning.
"We have a disease, melanoma, that is an aggressive disease that can have poor outcomes," said Dr. Vincent Reid, medical director for the Hall-Perrine Cancer Center.
Melanoma, as Mr. Reid says, is a significant health care issue that's caused through indoor tanning. "There is no health benefit to tanning. This is a misconception that has been pushed by the tanning industry," explained Mr. Reid. At the event, teens modeled their prom look and spray tan while learning about the dangers of excess sun exposure.
"There's so many ways now, where you can achieve a glow the healthy way, and spray tanning is definitely one of those," said Leslie Epstein, who started her own organic spray tan business after dealing with the effects of indoor tanning. Read the full story
here
.
These news items are provided by CBS2/FOX 28
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CBS2 Weather First Forecast
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A disturbance will pass through the area today. However, moisture is limited, but what is available will be squeezed out in the form of fluffy light snow or flurries. Any accumulations would be very light and result in generally a dusting to half inch. Skies will be partly sunny with high temperatures in the low to mid teens. High pressure will drift overhead leading to another very cold night. However, clouds may prevent temperatures from really plummeting. Lows will still drop below zero for much of the area. Winds will be fairly light to calm so there won't be much of a wind chill. Tuesday will be a transitional day with more sunshine and slowly warming temperatures back into the low teens.
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