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Thursday, November 20, 2008  :: Frontpage
Business
REGISTER FILE PHOTO | Loaded grain trucks line up to enter the Verasun Energy plant earlier this year in Albert City.
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VeraSun asks to nullify contracts on buying corn
The ethanol maker's bankruptcy filing makes the action legal; Iowa farmers stand to lose money.
You should get to know ... Anna Allen
Risk Management Analyst, Professional Solutions Insurance Company, Clive
You should get to know ... Mitch Matthews
Coach and co-founder, Akickinthepants.com, West Des Moines
People on the move for Nov. 20
NEW JOBS
Local Business Watch for Nov. 20
13 Iowa companies' stock prices fall again
SPECIAL TO THE REGISTER | Russ Lenocker of Dexter, Iowa, looks over the cab on the Chevy Silverado. General Motors announced its commitment to producing FlexFuel vehicles, and its support of 19 new E85 ethanol fuel locations in Iowa by the end of 2008.
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Ethanol producers want to link auto bailout to flex-fuel vehicles
The ethanol industry fears there won't be enough vehicles able to consume the biofuel made to meet government mandates.
REGISTER | Click to enlarge chart.
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Des Moines bucks trend, sees home price rise
The Des Moines metropolitan area was one of 28 areas nationwide to see its median home sale prices climb in the third quarter.
SPECIAL TO THE REGISTER | Suzanna de Baca and Jeff Bratz.
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Replay today's chat: What does an Obama presidency mean for the markets?
Financial advisors Suzanna de Baca and Jeff Bratz answered readers questions about what an Obama presidency might mean for the markets and your money. you can read their bios at right.
Principal applies to get $2 billion federal investment
Taxpayers could become one of the biggest investors of Principal Financial Group, if the company's application for $2 billion from a controversial U.S. Treasury program is approved.
| RICKI KING
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You should get to know ... Ricki King
Director, In Living Memory, Des Moines
Farmers must plant roots of succession in the family tree
Farmers planning on passing on their land to the next generation should seek equity, not equality, to determine who gets what in the transition, a University of Nebraska professor told agriculture bankers Tuesday.
People On The Move for Nov. 19, 2008
NEW JOBS
Local Business Watch: Major Iowa stocks fall as Dow gains
Fewer than half of Iowa's publicly traded companies participated in Tuesday's Wall Street gains, with the state's two largest publicly traded companies leading the nonstarters.
Principal asks for $2 billion from Treasury
Taxpayers could become one of the biggest investors of Principal Financial Group, if the company’s application for $2 billion from a U.S. Treasury program is approved.
Ethanol makers want benefit from auto bailout
Washington, D.C. — Ethanol producers want to use any bailout of the auto industry to boost production of cars that can run on higher blends of the corn-based fuel.
Special to the Register | Lee Dukes
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Principal Wellness names new president
Principal Financial Group has named Lee Dukes president of its subsidiary, Principal Wellness Co.
Judge OKs lease of Regency's recycling site
A Polk County judge has ruled that Regency executives can proceed with the leasing of the Environmental Reclamation and Recycling facility to another recycling company, but must maintain ownership of the property until a lawsuit is settled.
Biz Buzz: Nation's financial crisis shoves Iowan into spotlight
Brookly McLaughlin will soon be looking for work, and her list of references will be tough to beat.
Principal retreats from jobs deal
Citing economic uncertainty, Principal Financial Group says it is no longer interested in tax incentives tied to creating 900 jobs in Iowa.
People on the Move for Nov. 18, 2008
NEW JOBS
You should get to know ... Janine Maynes
Director of Operations, Concept by IOWA Hearing AID Centers, Des Moines
Business Watch for Nov. 18, 2008
Iowa stocks hit new lows as Dow tumbles
Ethanol plant failures to climb, banker predicts
An Omaha investment banker said the current roster of 16 bankrupt ethanol plants, five of them in Iowa, will grow to as many as 40 by early next year as the industry is squeezed by falling prices and volatile markets.
CHRISTOPHER GANNON/REGISTER PHOTOS | Jewelry is one of the many items for sale at Fashion Junction in Beaverdale. The consignment store also carries clothing, purses, shoes and home furnishings.
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As economy sags, shoppers take advantage of thrift stores
Tiffany Arana grew up poor but well-clothed, thanks to her family's frequent trips to secondhand shops in Chicago. So when Arana was driven back to her thrift-store roots after a family member's recent unemployment, she embraced the change.
Vantus Bank owner reports loss
First Federal Bankshares, Inc. reported Friday a net loss of $798,000 for the quarter ending Sept. 30, compared with a net income of $415,000 a year ago.
Corn price plunges, but grocery cost holds higher
Washington, D.C. - As the price of corn falls from record highs this summer, consumers expect to see prices in the grocery store decline.
17 housing groups divide $3.3 million
The board overseeing the Iowa Finance Authority approved $3.3 million in grants to 17 housing groups to help low-income families gain access to housing.
You should get to know ... Eddie Erlbacher
Professional clothier, Tom James Co., Clive
People on the Move for Nov. 17, 2008
NEW JOBS
Brasher: These piggies don't go to market
Washington, D.C. - Green pork, anyone?
Elbert: Contest enriches diversity ideas at ISU
Ames, Ia. - For a major college town, Ames is about as white as it gets.
RODNEY WHITE/THE REGISTER | Mike Hartschen, director of buildings and facilities, at left, and Christopher Littlefield, AvivaUSA's chief operating officer, check the construction progress of the U.S. operations headquarters in West Des Moines. It will replace space being used in three Des Moines locations.
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How will economy affect Iowa's financial sector?
A recession in Iowa means manufacturing jobs most likely will get hammered.
CHISTOPHER GANNON/THE REGISTER | A large pile of harvested corn stands outside the grain elevator in Kellogg on Tuesday. While the yields have been good, confirming the USDA's harvest estimate of 172 bushels per acre for Iowa, corn prices haven't cooperated, closing at $3.80 per bushel on Friday.
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Corn, markets soggy in harvest
Mountains of dried corn arose across Iowa as farmers pulled in the last of what is proving to be a bountiful harvest.
SPECIAL TO THE REGISTER | Patrick Jury, left, president and CEO of the Iowa Credit Union League, and Warren Morrow, founder and chief executive of Coopera Consulting in Des Moines, speak with officials at the New Orleans Firemen's Federal Credit Union in Metairie, La.
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Iowans help credit unions reach Hispanics in Louisiana
Iowans are helping credit unions in New Orleans serve a tide of Hispanic workers who have moved to the city since Hurricane Katrina hit in 2005.
You should get to know ... James L. Martin
Sales manager, DMB Supply Inc., Des Moines
People on the Move for Nov. 15
NEW JOBS
Local Business Watch for Nov. 15
AROUND IOWA
McGraw-Hill announces job cuts in Dubuque
The McGraw-Hill Companies has announced it has cut jobs at his warehouse and distribution center in Dubuque.
Renewable Energy Group gets Power Fund grant
Renewable Energy Group of Ames, which makes and sells biodiesel fuel made from either soybean oil or animal fats, has received a $740,000 grant from the Iowa Power Fund.
More work urged to combat financial illiteracy
Iowa has made significant strides in fighting financial illiteracy over the past few years, but more needs to be done.
Rhein to head Wells Fargo Financial
Wells Fargo & Co. has named Kevin Rhein to replace Mark Oman as head of Des Moines-based Wells Fargo Financial.
Local Business Watch for Nov. 14
Friedman to speak at Partnership event
| Cathi Van Note
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You should get to know ... Cathi Van Note
Job description: As outreach center coordinator I am responsible for the operation of the Youth Outreach Center, mobile outreach for the Homeless and Runaway Youth Programs and Reggie's Place Coffee Shop.
Friedman will speak at Partnership's annual dinner
Author and journalist Thomas Friedman will headline the Greater Des Moines Partnership’s 120th Annual Dinner on Jan. 22. The Partnership’s annual dinner and meeting will take place at Hy-Vee Hall at the Iowa Events Center in downtown Des Moines.
Omaha World-Herald cuts 51 employees
The Omaha World-Herald has eliminated 51 jobs to help deal with the rising cost of newsprint and the weakening economy.
Changes frustrate Iowans who OK'd initial rescue plan
Washington, D.C. - The Iowa lawmakers who backed the financial system bailout expressed dismay at the way the Bush administration is managing it but didn't criticize the decision to not buy troubled mortgage assets.
| Jim Cramer
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Investing isn't about having 'fun,' Cramer says
Iowa City, Ia. - University of Iowa senior Alex Cullen walked by a television three years ago as his older brother watched a noisy guy bounce around on the screen and decapitate bobbleheads as he talked - screamed - about the stock market.
State fund approves $2 million for turbine research
The Iowa Power Fund board voted unanimously Wednesday to approve a $2.1 million grant to TPI Composites for a research project at its new wind turbine factory in Newton.
JOHN GAPS III/THE REGISTER | Marvin Kelly congratulates a new member of the Chartered Property Casualty Underwriters Society at the Hotel Fort Des Moines on Wednesday. Looking on are Jody Ochsner, president, left, and Vice President Barb Sullivan at the lectern.
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Insurance society president wants increased diversity
Minorities make up less than 6 percent of the Chartered Property Casualty Underwriters Society's membership.
Dutch giant ING reports loss of $609 million in 3rd quarter
Amsterdam, Netherlands - Financial services company ING Groep NV, which has operations in Des Moines, reported a net loss of $609 million in the third quarter on Wednesday, after booking more than $1.
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