Principal Financial Group Inc. has promoted Terry Lillis to senior vice president. Lillis will assume the title of chief financial officer effective August 7 in preparation for the retirement later this year of Chief Financial Officer and Executive Vice President Michael Gersie. Lillis previously served as vice president and chief financial officer for Principal’s retirement and investor services division of The Principal.

The Principal Financial Group Foundation has donated $125,000 to the American Red Cross International Response Fund for relief efforts related to the recent earthquake in China. This contribution follows an RMB 1 million donation to the Red Cross Society of China by CCB-Principal Asset Management Co. Ltd., a joint venture between the Principal Financial Group Inc. and the China Construction Bank, which also donated RMB 20 million to the Red Cross Society of China.

The Kruidenier Foundation will contribute $100,000 to the Des Moines Social Club’s effort to raise $2.2 million for the renovation of a building at 1408 Locust St. into what is being described as the nation’s first sustainable artistic and cultural center.

The Hy-Vee Triathlon on June 22 in Des Moines is sold out in its second year at 2,200 participants in the amateur division. Last year, it was short of selling out with nearly 1,700 participants. Hy-Vee Inc. spokeswoman Chris Friesleben said Hy-Vee could consider opening the event to more participants next year, but will wait to see how this year’s event goes. Having a triathlon sell out in its second year is unique, according to the race director, who has been in the event management business several years, Friesleben said.

Aviva USA has received a patent on a risk management process that allows the company to offer customers minimum interest rate guarantees at a lower cost and with higher potential benefits on its indexed universal life insurance products. The U. S. Patent and Trademark Office issued U.S. patent number 7,376,609 on May 20 for “Maximization of a Hedged Investment Budget for an Index-Linked Insurance Product.”

Iowa’s Latino Heritage Festival is looking for food vendors, exhibitors and cultural booth representatives for the event, scheduled for Sept. 20-21 at Blank Park Zoo. The event includes a variety of traditional food, authentic arts and crafts, and cultural exhibits featuring educational activities for all ages, hours of live entertainment and the second annual Latino American Idol competition. For information on being a food vendor, an exhibitor or volunteering at a cultural booth, visit www.latinoheritagefestival.com.

The U.S. House and Senate joint economic committee released a report Thursday that said domestic flight delays cost the airline industry and passengers $40.7 billion in 2007, the Phoenix Business Journal reported. Passengers lost an estimated $12 billion worth of time that otherwise would have been spent on business and recreation. Late flights also cost airlines $19.1 billion in extra staffing, fuel and maintenance. The cost to airlines includes $1.6 billion in fuel costs, as idling planes wasted 740 million gallons of jet fuel and released more than 7 million metric tons of carbon dioxide into the air, the report said. This was based on the 2007 average wholesale fuel cost of $2.15 per gallon. With oil prices at record levels, that number could double by the end of this year. The study was based on an analysis of 10 million domestic flights. More than 20 percent of all flight time last year was wasted on delays, most of which were caused by other flights arriving late.