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Thursday PM Daily | May 17, 2018
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NEWS BRIEFS
Holmes Murphy partners with
short-term rental coverage platform
Property Protect, an automated insurance program for short-term rental properties, today announced it has entered into an an exclusive partnership with Waukee-based independent brokerage Holmes Murphy to offer its coverage nationwide. Property Protect recently launched in all 50 states to offer rental owners who advertise on Airbnb, VRBO and other vacation rental platforms coverage for potential property damage caused by short-term rental guests. "This partnership really demonstrates Holmes Murphy’s commitment to innovation," said Nick Henderson, vice president at Holmes Murphy. "Property Protect fills an increasing need by offering home sharers in the short-term rental industry automated guest policies. By partnering with Holmes Murphy, Property Protect is able to provide quality coverage at a competitive rate." Hosts can buy up to $10,000 in coverage for $4 per day. The company was founded by Kate Yanov, a marketing executive from San Francisco who has been a vacation rental host for the past five years.
Greater Des Moines
Committee gives $10,000 to water trails project
The Greater Des Moines Committee has contributed $10,000 for the multiyear regional water trails project to activate riverfront amenities throughout Greater Des Moines, including the Des Moines River downtown. "This project will bring to life one of our best natural amenities for residents and visitors from across the country to experience," said Bob Ritz, CEO of Mercy Health Network and chair of the 120-member Greater Des Moines Committee. "As a group of business leaders, we are excited to join a growing list of regional partners taking leadership by investing in this project that will have a transformational impact on DSM and add to the momentum in our region." The Water Trails and Greenways Master Plan released in 2016 lays out a road
map for enhancing recreational experiences along waterways in the area. Results of an engineering study for the multiyear plan will be released next week.
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NEWS BRIEFS
Shade Tree Auto wins national business award
Grimes-based Shade Tree Auto has won the Gold Stevie Award for Company of the Year in retail. The
company was noted for its development and expansion, a 42 percent jump in customers, and for donations and volunteer work in the community. The American Business Awards will present the Stevie June 11 in New York City. See the full list of winners here.
Paustian’s book wins fourth honor
Author and Des Moines Area Community College administrator Tony Paustian has received a fourth honor for his book, "A Quarter Million Steps: Creativity, Imagination and Leading Transformative Change," after he was named a finalist for the international Eric Hoffer Literary Award. The book, which examines small steps toward success with inspiration from the Apollo space program, was chosen from among 1,500 entries. The Hoffer Award is considered one of the largest awards for small, academic and independent presses. "A Quarter Million Steps," released nationally last year by BookPress Publishing, also won a Book Excellence Award out of Toronto for Best Management Book, an
Axiom Business Book Awards silver medal for best motivation, success and coaching book and a Reviewers’ Choice Literary Award for best business book. Paustian is provost of Des Moines Area Community College’s West Campus in West Des Moines.
RSM US Foundation donates $157,100 to Tippie accounting program
The RSM US Foundation has donated $157,100 to the Tippie College of Business at the University of Iowa. The donation will be used to establish the RSM Excellence Fund, which is designated for a variety of initiatives in the college’s accounting department. "This gift is made possible through the generous contributions from RSM colleagues who are University of Iowa alumni, as well as the RSM US Foundation," said Joe McCarragher, an Iowa City partner with RSM US LLP and a graduate of the University of Iowa. The funding will be used to bring in prominent outside speakers from the profession, pay for databases used in classroom instruction, support the writing program, and help with the recruitment of students from diverse and underrepresented student populations, said Dan Collins, department executive officer for the accounting
department.
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THE INSIDER NOTEBOOK
Groceries, chain restaurants now required to spoil your funBY PERRY BEEMAN: Now this from the Business Record’s health desk: There’s a new federal rule that requires a broader range of chain restaurants — not just the biggies like McDonald’s — to disclose calorie counts on food items. Some of the big chains have had to do this since 2010, but now midsize and regional restaurants and grocery stores with more than 20 locations will have to. Read more
MORE NOTEBOOK ITEMS: Read more Insider bits and bites of the finer side of Iowa business online.
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MEMBERSHIP EXCLUSIVE CONTENT
Catch Des Moines ups the ante
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Catch Des Moines has launched a fundraising effort aimed at raising an extra $200,000 a year or so to help land events and conventions in Greater Des Moines. With Greater Des Moines staging events ranging from the NCAA basketball tournaments — the men return to Wells Fargo Arena next year — to the BMW Club Motorcycle Owners of America International Rally planned
for the State Fairgrounds July 12-15, the Greater Des Moines Convention and Visitors Bureau (as Catch Des Moines is also known) decided to take a different approach to financing beginning this year. Read more
MORE INSIDER CONTENT: See all Business Record Insider content and become an Insider.
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NEWS BRIEFS
Farm income falls by more than half since 2013
USA Today: Net farm income nationwide has fallen by more than half since 2013, and it’s expected to drop another 6.7 percent this year — to the lowest level since 2006, according to the Department of Agriculture. The drop is a reflection of low commodity prices, exporting issues and in some places, lousy weather. "The prices that farmers have been receiving for their products aren’t paying the bills, and too many people are being forced to give up farming," said Roger Johnson, president of the National Farmers Union.
Gunmaker Remington exits bankruptcy in tough gun climate
Reuters: U.S. weapons manufacturer Remington Outdoor Co. Inc. said today that it had emerged from Chapter 11 bankruptcy with less debt and more stable financing that may help it ride out a slowing market for firearms. Remington, America’s oldest gunmaker, filed for bankruptcy protection in March
Wells Fargo employees altered information on business
customers’ documents
Wall Street Journal: Some employees in a Wells Fargo unit that handles business banking improperly altered information on documents related to corporate customers, according to people familiar with the matter. The behavior again raises questions about Wells
Fargo’s risk-management practices and controls. The bank has been sanctioned in recent months by federal regulators for problems in these areas.
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ONE GOOD READ
Seattle scales back tax in face of Amazon revolt; tensions linger The New York Times: After intense lobbying by local businesses and a bold threat by Amazon to curtail development in its hometown, the Seattle City Council on Monday approved a smaller and more limited tax on big companies than originally envisioned. The new tax — dubbed the "Amazon Tax" by locals — will fund affordable housing and homeless services in a city whose economic boom, driven in no small part by
Amazon, has priced many residents out of the area and forced some onto the streets.
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BUSINESS RECORD CALENDARNEWLY ANNOUNCED EVENTS
June 12: Gaining & Enhancing Leadership Experience Through Volunteering
Host: IWLC Metro Women Connect
About: Participation on nonprofit boards is a great way to build leadership experience. Attendees at this workshop will hear from representatives of the Community Foundation of Greater Des Moines and United Way of Central Iowa, who will provide insights, advice and resources for making the most out of nonprofit board participation and other volunteer activities. Additionally, a panel of women who have been active on several Iowa nonprofit boards will share their experiences.
When: 8-11:30 a.m.
Where: Greater Des Moines Botanical Garden
Learn more
View
our full calendar to see the latest curated business and community events, or suggest an event.
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KCCI TOP STORIES
Despite fire, 801 Chophouse will be open tonight
Capt. Randy Jones with the Des Moines Fire Department said there was little to no damage to the kitchen at 801 Chophouse in a fire there this morning, but there was quite a mess to clean up. Dammond Murphy, with the restaurant, said: "Everything is cleaned up now, and we will be open for service tonight." Fire crews had responded to a call just before 6 a.m. Read more
Taxpayers pay city administrator's salary, benefits after she was let go
A state audit is raising questions about how one Central Iowa city spent nearly $200,000 in taxpayer money. An annual audit shows that the state’s issue has to do with how Grimes went about letting its city administrator of 24 years go. The audit shows that when the city didn’t renew the contract of Kelley Brown in December, taxpayers had to pay one year of her salary and benefits, which was nearly $200,000. That’s only because, per her contract, the city didn’t give her 90 days' written notice of its decision. Read more
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Tonight:
Mainly clear. Low near 60. Winds E at 5 to 10 mph.
Friday:
Except for a few afternoon clouds, mainly sunny. High 83. Winds ESE at 10 to 20 mph.
Get the latest KCCI weather.
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BUSINESS RECORD IOWA INDEXThe Iowa Index is an unweighted average of all 22 Iowa-based public companies. Below is a live look at those 22, plus 15 additional companies with large operations in Iowa.
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