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Monday PM Daily | February 7, 2022
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Iowa stocks have a rocky start in 2022
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Ten of the 16 Iowa-based companies on the Business Record's Iowa Index
posted stock price losses for the month of January, two being double-digit percentage losses. Five Iowa-based stocks posted gains. One company was unchanged.
United Fire Group Inc. had the largest gain of the month with a 6.13% increase. American Equity Investment Life Holding had the second-biggest gain at 5.62%. Lee Enterprises Inc. had the third-biggest with a 4.72% increase. On Jan. 24, newspaper publisher Lee Enterprises asked its shareholders to help it fight off a hostile takeover offer from "vulture hedge fund" Alden Global Capital, according to the Associated Press.
Heartland Express Inc. posted the biggest percentage loss at 11.64%. Workiva Inc. had the second-biggest loss with a 10.52% decrease. Flexsteel Industries Inc. was third with a 7.57% decrease.
On Dec. 1, IAC company Dotdash announced the completion of its acquisition of Meredith Holdings Corp., in an all-cash transaction at a purchase price of $42.18 per share. Meredith has been replaced with IAC on the Business Record's list of companies with sizable operations in the state, and removed from the Iowa Index. QCR Holdings Inc., a financial
services company headquartered in Moline, Ill., will also be added to our list. Lastly, Deere & Co. has been removed from the Iowa Index but will still remain on the longer list of companies with operations in the state.
The Iowa Index, an unweighted average price of 16 Iowa-based public companies, decreased 0.14% in January, compared with a 9.54% decrease in the Nasdaq stock index and a 3.48% decrease in the Dow Jones Industrial Average.
The Iowa-based companies that make up the Iowa Index are in bold in this list of companies with sizable operations in the state.
See the full Iowa Index
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NEWS BRIEFS
Bravo celebrates arts and culture community during annual fundraiser gala
Bravo of Greater Des Moines celebrated the region’s arts and culture community Saturday evening with its annual fundraising gala, marking the return of the celebration as an in-person event. Besides being a fundraiser, the gala is also an opportunity to celebrate some of those partners. Tom and Linda Koehn were presented with the Bravo Award, which is given to an individual, family or foundation whose commitment to arts, culture and heritage has positively affected Greater Des Moines. Spotlight awards were presented to ArtForce Iowa and Capital City Pride for their contributions to the community over the past year. Proceeds from the evening help offset the organization’s operating expenses. Whatever is raised beyond that level goes back to the community in grants to Bravo’s 75 nonprofit cultural partners. Bravo, which is 99.5% funded by hotel-motel tax receipts, invested more than $3.3 million in grants to its partner nonprofits in the 2021 grant cycle.
Iowa COVID memorial expands, ceremony tomorrow
An art exhibit on Des Moines Area Community College's Ankeny campus dedicated to the Iowans who have died of COVID-19 is expanding to add tributes to 1,200 more people. Iowa artist Pam Douglas has made a folded paper crane for each of the 8,657 Iowans and included each person’s name, city and age. A ceremony where Douglas and college President Rob Denson will speak about the exhibit is scheduled for 10:30 a.m. Tuesday at the Ankeny campus student center. Douglas will install two hanging mobiles, each with 215 cranes, and add the remaining 770 to the current display along the glass windows in the building.
DMACC will host the exhibit through the spring semester.
Nominations sought for Live United Awards
Nominations are now open for the United Way of Central Iowa’s 2022 Live United
Awards, which will be presented during its annual celebration in May. The deadline to submit a nomination is Feb. 22. Awards that will be presented are the Game-Changer, Impact-Maker and Hand-Raiser awards, which recognize individuals and organizations who have demonstrated a strong commitment to making a positive impact in Central Iowa and in the organization. The Spirit of Central Iowa Award honors one organization that has shown an exceptional level of dedication to helping the work of United Way of Central Iowa. The 2022 Live United Celebration is scheduled for May 9 at Prairie Meadows.
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THIS WEEK IN FEARLESS
She was told if she didn’t stop drinking, she would die. Now she’s almost two years sober.
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Angie Chaplin is the founder and owner of Mindful Leadership, a consulting practice that works to build leadership capacity in individuals, groups, teams and companies. Chaplin started her business following a decadelong battle with alcohol addiction.
This story discusses unhealthy alcohol consumption behaviors and addiction. If you or someone you care about is struggling with alcohol addiction, resources are listed at the bottom of the article. Read more
Sign up for the Business Record's weekly Fearless e-newsletter.
Read more at businessrecord.com/Fearless.
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NEWS BRIEFS
Bill would force licensing boards to state a reason for rejecting complaints
Iowa Capital Dispatch: State licensing boards would have to explain refusals to investigate consumers’ complaints, under a bill proposed in the Iowa Legislature. House Study Bill 565 would also make a licensing board’s determination that an investigation is not warranted, or should be closed without disciplinary action, subject to review by the courts. Currently, Iowa licensing boards can reject a complaint seeking an investigation into a licensee without disclosing their reasoning to the complainant.
Tyson Foods says higher meat prices haven’t cooled demand
Wall Street Journal: Escalating meat prices haven’t slowed restaurant and retailer demand for meat, Tyson Foods Inc. executives said, as rising prices helped to more than double the company’s quarterly profit. Tyson, the biggest U.S. meat processor by sales, said orders for beef, chicken and pork continue to outpace its ability to supply products, with its plants still short on workers. Raising wages and expanding benefits to recruit and retain staff is helping drive meat prices higher, Tyson said, along with transportation and other
costs.
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ONE GOOD READ
Ottawa declares a state of emergency amid trucker protestsNew York Times: Canadians awoke today with their capital, Ottawa, under a state of emergency, as protesting truckers continued to occupy the country’s center of political power and calls were growing in some quarters for the government to take more drastic action to end the crisis. With
demonstrations snarling traffic and disrupting business and residential neighborhoods, Ottawa’s City Council was to meet today to try to find a way out of the upheaval. The demonstrations, during which some protesters have desecrated national memorials and threatened local residents, have shaken a country known globally as a model for humanism, peace and serenity. On Sunday afternoon, the mayor of Ottawa declared the emergency after 10 days of unrest that began with protests by truckers over vaccine mandates imposed by the government of Prime Minister Justin Trudeau. The protests have since mushroomed into an occupation of Canada’s capital and broader demonstrations over
pandemic restrictions that have spread well beyond the capital.
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KCCI TOP STORIES
Roosevelt High School briefly on lockdown due to threat
Des Moines school officials today confirmed that Roosevelt High School was briefly under lockdown. School officials said a threatening call was made to the school this morning. Officials said they were able to determine that the threat was not credible. Des Moines Public Schools security and Des Moines police will be in the area of the school for the rest of the day out of an abundance of caution. Read more
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Tonight:
Mostly clear. Low near 25. Winds S at 5 to 10 mph.
Tuesday:
Intervals of clouds and sunshine. High 48. Winds W at 10 to 15 mph.
Get the latest KCCI weather.
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BUSINESS RECORD IOWA INDEXThe Iowa Index is an unweighted average of all Iowa-based public companies. Below is a live look at
those Iowa companies, plus additional companies with large operations in Iowa.
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