THURSDAY, JULY 18, 2019  |  IN THIS ISSUE  

Heartland Express today reported 23 percent higher earnings per share for the second fiscal quarter, as the truckload carrier kept a disciplined approach to freight rates and continued to improve driver retention and recruitment.

North Liberty-based Heartland reported quarterly earnings per share of 27 cents, up from 22 cents in the year-earlier quarter. Net income grew from $17.8 million during the second quarter of 2018 to $22.4 million in 2019, a 25.6 percent increase

 "Our operating results were strong in terms of profit and overall operating efficiency despite general freight environment challenges during the quarter," CEO Michael Gerdin said in a news release. "We were also able to deliver sequential growth in our top line revenues during the second quarter as compared to the first quarter of 2019."

Mr. Gerdin reported significant improvement in the company's operating ratio and said the company's cash balances of $205 million are now at their highest level since September of 2012.

"In addition, we continued with our efforts to refresh our fleet of tractors and trailers as well as several of our terminal locations as we look to provide the latest equipment and terminal amenities to our professional drivers while remaining debt-free," Mr. Gerdin said. "The overall freight environment could produce periods of both ups and downs for the remainder of the year, but I believe that our organization is well positioned for whatever opportunities or challenges lie before us.  I am pleased with our drivers, our team that supports our drivers, and our financial results for the second quarter of 2019."
 
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487 Windmill Place  PHOTO GREATER IOWA CITY AREA HOME BUILDERS ASSOCIATION
Elevation Home Builders is the 2019 overall winner for the inaugural Greater Iowa City Area Parade of Homes People's Choice Awards, the Greater Iowa City Area Home Builders Association (HBA) announced. 

The winning house at 487 Windmill Place in Iowa City averaged 4.88 stars out of 5 on the Parade Craze app used to vote on five categories during the June 1-9 scattered-site event. The home's exterior will be featured on the cover of the 2020 Iowa City Area Parade of Homes magazine.
 
The colonial-style house earned the highest ratings in four areas, including architecture (4.89), kitchen (4.82), interior design (4.83) and master bath (4.76). Among the features of the four-and-a-half bedroom, three-and-a-half bath home are coffered 10-foot ceilings, a gas fireplace, hardwood floors, quartz kitchen countertops and stainless-steel appliances. 

Elevation Home Builders' other new-construction house on the parade - 401 Windmill Place - won landscaping honors with 4.67 stars. The business is led by Builder/Designer Amy Pretorius and Builder/Project Manager Nathan Knause. Mills Custom Homes' Tiffin creation on 1701 Croell Ave., recorded the most votes cast with 1,404.
 
Gary Frakes Construction's 3838 275th Street NE entry in North Liberty garnered the most visitors with 1,401, while Elevation Home Builders' remodel at 5 Highview Knoll NE in Iowa City topped the guest count among Remodelers Parade participants at 624. 

The 22nd Remodelers Parade occurred the first weekend of the 52ndParade of Homes. A total of 19,544 tours were made.  Details on all houses - including photos and builder information - may be accessed until next May at iowacityhomes.com and year-round through Parade Craze.

$3.5 million grant from the Roy J. Carver Charitable Trust of Muscatine will bring a state-of-the-art cryo-transmission electron microscope to Iowa State, helping (L-R) Amy Andreotti and Dipali Sashital advance their studies of structural biology.  PHOTO CHRISTOPHER GANNON
Iowa State University attracted $469 million of total external funding for the fiscal year ending June 30, down 7.9 percent from fiscal year 
2018's record total  of $509.2 million.

Total external funding for fiscal year 2019 is the third highest reported by Iowa State, following records in fiscal years 2018 and  2017. The record years included significant gifts benefitting the  College of Liberal Arts and Sciences and the  Ivy College of Business.

External funding includes grants, contracts, gifts and cooperative agreements from federal, state and local governments as well as from corporations, nonprofits and other universities for research, academic support, scholarships and more.

The fiscal year 2019 total also includes  a record $260.9 million of external support for Iowa State research, a 6.2 percent jump over the previous fiscal year's $245.8 million. The previous record for research funding was $252.5 million during fiscal year 2016.

External research funding included a record $181.1 million in federal funds (the previous record was $174.7 million in fiscal year 2016) and a record $79.8 million in non-federal funding (the previous record was $77.7 million, again in fiscal year 2016).

"These figures indicate that as a top land-grant university, Iowa State excels at leveraging state resources to attract external support for academic, research and creative activities," said Wendy Wintersteen, Iowa State's  president. "Record research funding helps place our faculty at the forefront of innovative discoveries and economic opportunities that make our state more competitive and improve lives in Iowa and beyond."

External research funding supported more than 1,300 research projects during fiscal year 2019, including projects to study structural biology at the molecular level, develop a nanovaccine for the flu, identify catalysts that lead to biorenewable chemicals and build a data system that helps inform policy about the care and education of young children.

The Iowa City Parks and Recreation Department will celebrate the grand opening of Riverfront Crossings Park from 3-10 p.m. Saturday in partnership with GreenState Credit Union.

The grand opening will take place at the park, located at 1101 South Clinton St. Parking on the event grounds will be reserved for disabled visitors only. All additional parking will be directed to the parking garage located at 855 S. Dubuque St.  Please follow the event signage and traffic directors for assistance.

The day will begin with children's activities from 3-6 p.m. for families to enjoy the park's nature playground and creek splash areas. Activities include roller skating, kite making, face painting and more. Children's art activities will be provided by the Iowa City Public Art Committee.
  
A variety of local food trucks will be in place from 5-10 p.m. for visitors to purchase snacks and meals. The evening's lineup will include Kona Ice, Marcos Grilled Cheese, The Box Lunch, and Rodney's Jamaican Jerk and BBQ. 

Attendees are invited to bring their lawn chairs and blankets to enjoy live music by EleanorGrace at 7 p.m. and the Dirty Dozen Brass Band at 8 p.m.  Unique to this event will be a beer tent for visitors 21 and older to enjoy a variety of beers from Big Grove Brewery, along with a selection from Sutliff Cider. All sales will be cash only with no refunds and will end at 9:30 p.m. 

The night will conclude with a fireworks show beginning at 10 p.m.

Visitors are encouraged to bring a full water bottle and sunscreen as the weather is expected to be sunny and warm.  For more information on the grand opening of Riverfront Crossings Park, visit  www.icgov.org/pr .

Georgia Van Gundy
By Georgia Van Gundy, e xecutive director of the  Iowa Business Council

As we reflect on state workforce trends and the Iowa Business Council's (IBC) economic outlook for the year, it's fair to say while the labor shortage continues to be a priority, the state is in a position of strength.

The Iowa Business Council releases  a quarterly economic survey to provide an overall outlook on our economy going into the next six months. The survey from July 1 showed IBC members remain optimistic about the overall economy with about 70 percent of IBC members anticipating higher sales and the majority expecting employment to increase.

For the first time, the survey asked members what potential major disruptors their industry could face in the upcoming year. 

Respondents noted difficult trade negotiations have exacerbated market uncertainty and have made it problematic to create projections for the future. We also heard from a quarter of respondents that artificial intelligence will be part of overall strategy as it pertains to robotics solving some workforce shortages and increasing productivity. 

A separate 15 percent noted weather could pose a problem in agricultural sectors, linking Iowa's historical ag economy with long-range market outcomes.  Overall, businesses desire a stable political and economic environment that allows more growth and expansion.

Read the full column here.
 
Ignite ICR: Send-Off Party, by Cedar Rapids Metro Economic Alliance, ICR IOWA and the Iowa City Area Chamber of Commerce, 3-5 p.m., Big Grove Brewery & Taproom, 1225 S. Gilbert St., Iowa City. Wind down your summer in ICR by hanging out with other interns in the region one last time. For more information, visit igniteICR.org.

Understanding Financial Statements, by SCORE of East Central Iowa, 11:30 a.m.-1 p.m., Hills Bank, 3204 Seventh Ave., Marion. This workshop will explore financial statements, what financial data belongs in each statement and how to use the numbers to spot problems. Free. To register, visit conta.cc/2S3nYv3.

July 19
ATD-Hawkeye Chapter Meeting, by Association for Talent Development, 8-9:30 a.m., ESCO Group, 3450 Third St. Marion, and Leepfrog Technologies, 2451 Oakdale Blvd., Coralville. Gale Mote will be the presenter. Cost: Free for members, $20 for non-members. To register, visit bit.ly/2Krg3Xg.

July 22
Coralville Roundtable, by Iowa City Area Chamber of Commerce, noon-1 p.m., Divots!, 1900 Country Club Drive, Coralville. Use this social hour to network and keep up-to-date with chamber and community events. Free. For more information, visit bit.ly/2x9u8QC.

July 23
Corridor Area Leadership Live, by CALL, 11:45 a.m.-1 p.m., The Early Bird, 333 First St. SE, Cedar Rapids. Learn how to lead from where you are, with speakers including Laura Seyfer, of Iowa BIG, Charlie Goetzinger, of Iowa BIG
See and Be Seen


in the CBJ Book of Lists - THE definitive resource guide for business leaders. Ranked information on Corridor companies by sector, regional market facts and profiles of the most influential people under one cover. Don't be left out - Be Seen! For advertising information, contact Andrea Rhoades at  andrea@corridorbusiness.com .

Note: The CBJ is now observing summer hours through Aug. 30. The CBJ offices will be open Monday-Thursday, 8 a.m.-5 p.m., and Fridays, 8 a.m.-noon. 
Headlines from CBS2/FOX 28
These news items are provided by CBS2/FOX 28  
 
A Corridor man was sent to the hospital after a two vehicle accident Wednesday afternoon on Hwy. 30.  Nick McDowell, of Mount Vernon, was headed East on on Hwy. 30 around 5:15 pm, when an SUV driven by Bethany Gibson of Marion pulled onto the highway from Cedar River Road.  Authorities say Ms. Gibson was trying to cross Highway 30 and did not see the pickup coming her way. Mr. McDowell was taken to an area hospital for non-life threatening injuries. Ms. Gibson was cited for failing to yield when entering a through highway.

A house fire in Cedar Rapids started from a bird's nest on a light fixture, according to the Cedar Rapids Fire Department.  Firefighters arrived on scene at 721 Bever Ridge Court SE shortly after 2 a.m. Thursday to find smoke on the lower level of the home.  Damage was confined to around the light. It did cause $15,000 in damage.  People were home at the time but no injuries were reported.

T hese news items are provided by CBS2/FOX 28 
CBS2 Chief Meteorologist Terry Swails' Weather First Forecast

An excessive heat warning  is in effect today through Saturday. Dangerous heat index values will be near 105 today and even higher the rest of the week.   Morning showers and storms will quickly clear after sunrise giving way to sunny, hot and humid conditions with highs in the low to mid-90s. It will be a bit breezy with southerly winds up to 25 m.p.h.  Overnight expect clear and warm conditions with lows in the mid-70s.  The worst of the heat will continue Friday and Saturday. Temperatures will be in the mid- to upper 90s and humidity will be high with heat indices of 100 to 110 likely. It will be warm and muggy at night even with low temperatures in the low to mid-70s.  Saturday evening into the overnight hours, a cold front will arrive bringing widespread showers and thunderstorms. There is a chance for locally heavy rain but the severe threat is low at this time.