General Growth Properties Inc. is taking heat for asking to be on the short-selling ban list, while its executives sold $40 million in shares, Crain’s Chicago Business reported. According to a report by Bloomberg, proxy adviser Glass Lewis & Co. told investors yesterday that the mall owner’s action consisted of “rigging the system” and called for General Growth to be removed from the list. Shares of General Growth, manager of Jordan Creek Town Center in West Des Moines, have fallen 64 percent this year, especially recently as investors increasingly have fears about the company’s heavy debt load that will be due in the next two years.

HCC Inc. has acquired Shaver Manufacturing Co., which makes agricultural equipment and landscape products. “After many years of successful ownership of the business, the sale to HCC will facilitate my retirement, but more importantly the customers, community and employees will continue to be well served by the new owner,” said Ed Parsons, president of the company. Shaver’s production facilities will remain in Graettinger, Iowa. Des Moines-based BCC Advisors acted as the financial adviser on the transaction.

The Principal Charity Classic raised $605,000 at its 2008 tournament, which took place May 28 – June 1 at Glen Oaks Country Club; it was an increase from the $575,000 raised in the event’s inaugural year in 2007. Most of the money raised will go to five charities: Blank Children’s Hospital, Bravo Greater Des Moines, Greater Des Moines Community Foundation, United Way of Central Iowa and Variety – The Children’s Charity. More than $78,000 will go toward nonprofit organizations that received pledges under the first annual “Birdies for Charity” program.

MidAmerican Energy Holdings Co. has completed its 14-day due diligence of Constellation Energy Group Inc.’s retail and wholesale businesses and plans to proceed with the merger. “With MidAmerican’s affirmation of the stability and underlying strength of Constellation Energy and the recent infusion of $1 billion to increase our liquidity, we are now poised to successfully complete the merger approval process,” said Mayo Shattuck III, chairman, president and CEO of Constellation. According to the deal announced Sept. 19, MidAmerican will purchase all of Constellation’s outstanding shares for cash consideration of about $4.7 billion, or $26.50 per share. The transaction is expected to close in nine to 12 months. Constellation’s shares closed at $23.75 yesterday.

The 21st Century Entrepreneurial Business Strategies Conference scheduled for Oct. 9 at Iowa State University has been postponed until next spring. According to conference director Thomas Chacko, the event did not meet the minimum registration numbers.