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Monday PM Daily | September 25, 2017
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Principal extends golf tourney sponsorship, announces record donations
By Business Record Staff
The Principal Charity Classic raised a record $3.6 million for Iowa children's charities, and Principal Financial Group Inc. extended its title sponsorship through 2023, the company announced.
The previous charity record was just over $2 million
in 2016. The tournament has donated about $13.5 million since 2007.
"This event continues to grow and exceed expectations. In particular, our Birdies for Charity program has seen rapid growth and benefits children's charities throughout the entire state of Iowa," said Dan Houston, Principal chairman, president and CEO.
Birdies for Charity nonprofit organizations solicit donations and receive a 10 percent match on what they raise through Sammons Financial Group and Wells Fargo.
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NEWS BRIEFS
Bishop Pates wins Ray Humanitarian Award
The Rev. Richard Pates, bishop of the Catholic Diocese of Des Moines, will receive the World Food Prize Foundation's Robert D. Ray Iowa SHARES Humanitarian Award. "Bishop Pates is receiving this unique recognition for his leadership in confronting hunger at home and abroad, and especially for his role building international understanding as chairman of the Committee on International Justice & Peace of the United States Conference of Catholic Bishops," Kenneth M. Quinn, president of the World Food Prize Foundation, said in a statement. Pates will
receive the award Oct. 16 at the Iowa Hunger Luncheon at the Downtown Des Moines Marriott. See the full news release.
Leadership Iowa announces 40-member class
The Iowa Association of Business and Industry Foundation has announced 40 participants in the 2017-18 Leadership Iowa class. The eight-month program encourages civic engagement. Sessions in various communities will cover such topics as economic development, manufacturing, agriculture, renewable energy, education, government, entrepreneurship, innovation, and Iowa's demographics and workforce.
Law professors oppose curtailment of arbitration rule
More than 500 law school and university professors from all 50 states today sent a letter to the U.S. Senate opposing efforts to block the Consumer Financial Protection Bureau's new arbitration rule. "Class action lawsuits are an important means of protecting consumers harmed by violations of federal or state law," the professors wrote. "Class actions enable a court to see that a company's violations are widespread and to order appropriate relief." Citing the CFPB's study of class actions and arbitration in consumer financial cases, the letter notes that "over five years, 160 million class members were awarded $2.2 billion in relief -- after deducting attorneys' fees." In contrast, in arbitration, "an average of only 16 consumers per year received relief from affirmative claims and another 23 received
relief through counterclaims." In July, the U.S. House of Representatives approved a resolution to block the arbitration rule.
Woodward Communications buys publisher of weekly newspapers
Dubuque-based Woodward Communications Inc. has reached an agreement to acquire West Branch Communications, the publisher of seven weekly newspapers in eastern Iowa, the Corridor Business Journal reported. Terms of the sale, which is
set to close Friday, were not disclosed. West Branch was started in 2001 by Jake Krob and Stuart Clark. It publishes seven weeklies, as well as shoppers and specialty publications. The newspaper group will become part of Woodward's Community Media Division, which consists of six weekly newspapers, including three in Iowa: the Dyersville Commercial, the Cascade Pioneer and the Manchester Press. The newspapers will continue to operate from their current locations and maintain their existing publication cycles, Woodward said in a statement. Krob will join WCI as regional publisher in charge of the West Branch Communications group. He will report to Steve Fisher, publisher of the Dubuque Telegraph Herald and group publisher of Woodward Community Media.
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THIS WEEK IN LIFT IOWA
Urbandale business wins national chamber awards
Urbandale-based Golden Openings Inc. is the recipient of the U.S. Chamber of
Commerce's Dream Big Small Business of the Year award. The honor was presented to the company at the Annual Small Business Summit, held Sept. 10-13 in Washington, D.C. Read more
Sign up for the Business Record's weekly Lift IOWA newsletter.
Read more at businessrecord.com/LiftIOWA.
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NEWS BRIEFS
Raygun expands in Cedar Rapids with furniture, events
Cedar Rapids Gazette: Raygun is expanding its Cedar Rapids store less than 18 months after opening. Part of the expansion will accommodate a new
product line -- furniture -- and a new service, community events. The expansion also will allow the Cedar Rapids Raygun to carry inventory that is in the Des Moines store but hasn't been introduced in Cedar Rapids.
Proposed Alliant settlement calls for 8.6 percent rate hike
Corridor Business Journal: A proposed partial settlement to Alliant Energy's 2017 rate case calls for an 8.6 percent increase in the utility's
overall electric rates in Iowa. Alliant filed the rate case on April 3, and implemented its interim base rate increase on April 13. Late last week, the company said the settlement proposed will boost rates 2 percent above the interim rate, for a total 8.6 percent rate increase.
Puerto Rico's agriculture decimated by Maria
New York Times: Hurricane Maria wiped out about 80 percent of the crop value in Puerto Rico --
making it one of the costliest storms to hit the island's agriculture industry, the country's agriculture department said. Maria's prolonged barrage took out entire plantations and destroyed dairy barns and industrial chicken coops. Plantain, banana and coffee crops were the hardest hit. The island suffered a loss of $780 million in agriculture yields, according to the department's preliminary figures.
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ONE GOOD READ
How to turn restaurant data analytics into increased salesSMART BLOGS:
Restaurants often have a mountain of data at their fingertips, but aren't sure how to turn it into useful insights that can drive sales. These expert tips can help. Read more
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BUSINESS RECORD CALENDARNEWLY ANNOUNCED EVENTS
Oct. 6 and 7: Refugee Summit
Host: United Way of Central Iowa
About: The 2017 Refugee Summit will celebrate the accomplishments of refugees and increase awareness about opportunities to support them as they adjust to their new homeland. The summit includes a day focused on employers,
government officials, educators, nonprofits and community members (on Friday), and a day for refugees to learn about local services (on Saturday).
When: Various times
Where: Mercy College of Health Sciences, Sullivan Center
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
Gunman flees police, crashes car into Burger King
A gunman is still on the loose after shooting another man early Sunday and crashing a car into a fast-food restaurant, Des Moines police said. The victim was shot in the arm just after 3 a.m. near Ninth and Mulberry streets. Des Moines Police Sgt. Paul Parizek said the victim's injuries were not life-threatening. Police spotted the assailant leaving a nearby parking ramp but the individual fled. Officers chased the car for 3 miles, sometimes reaching speeds of up to 90 mph, before it crashed into a Burger King on East 14th Street and Court Avenue. Police
said the driver ran from the car and into a wooded area. A K-9 unit was sent to search for him but was unable to find him. Read more
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Tonight:
Showers and scattered thunderstorms. Low 63. Winds NNE at 5 to 10 mph. Chance of rain 80 percent.
Tuesday:
Rain early, then remaining cloudy with showers in the afternoon. High 67. Winds NW at 10 to 15 mph. Chance of rain 80 percent.
Get the latest KCCI weather.
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BUSINESS RECORD IOWA INDEXThe Iowa Index is an unweighted average of all 23 Iowa-based public companies. Below is a live look at those 23, plus 14 additional companies with large operations in Iowa.
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