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Tickers: Dec. 4

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The inPlay restaurant and entertainment complex at 615 Third St., Des Moines, is under new management, according to an employee who declined to be identified. Mark Rogers, owner of Legends American Grill, reportedly took over about a week and a half ago. Michael Stessman, general manager, and Justin Stessman, assistant general manager, are no longer with the company. Signs were down on the building this morning as part of the change. Rogers did not immediately return calls this morning.

Casey’s General Stores Inc.’s earnings from continuing operations fell slightly in its fiscal second quarter ended Oct. 31 due to an increase in operating expenses that offset gains in all three of its business segments. Net income was $27.3 million, or 54 cents per share, compared with $27.7 million, or 55 cents per share, a year earlier. Same-store gasoline gallons sold rose 0.2 percent. Grocery and other merchandise same-store sales were up 4.9 percent and gross profits rose 8.5 percent to $89.8 million. Prepared food and fountain same-store sales were up 9.3 percent and total sales for the quarter were up 11 percent to $87.8 million. Meanwhile, operating expenses jumped 10.3 percent to $127.3 million due to several large health insurance claims, higher diesel fuel costs and a 22 percent increase in credit card fees, said Robert Myers, president and CEO. Casey’s has acquired 11 stores and completed four new stores in its fiscal year. At its December meeting, Casey’s board of directors declared a quarterly dividend of 7.5 cents per share, payable on Feb. 16 to shareholders of record on Feb. 2.

Generation Iowa released its December status report, which outlines four recommendations to attract and retain Iowa’s younger generation. The suggestions are amending legislation to include voting seats for young Iowans on all boards and commissions relating to economic development and quality of life; making job creation programs more ambitious to increase job opportunities for the next generation’s educational level; expanding the Iowa Internship Program; and expanding the Education Award to Iowa’s Americorps volunteers to attract service-minded educated young professionals. For the complete report, go to www.generationiowa.com.

Despite a slight boost in sales on Black Friday, retailers are reporting disappointing sales figures for November, the Associated Press reported. Five retailers beat analysts’ expectations, while nine missed them, based on a tally by Thomson Reuters, which tracks same-store sales. Wal-Mart Stores Inc. reported a 3.4 percent rise in sales, while Costco Wholesale Corp., usually a strong performer, reported a 5 percent decline in sales. Same-store sales at Bon-Ton Stores Inc., which operates Younkers, plummeted 16 percent, Limited Brands Inc.’s sales fell 8 percent and Pacific Sunwear of California Inc.’s sales dropped 10 percent.

U.S. office furniture orders were $945 million in October, down 6 percent from October 2007, the largest decline since May 2003, according to the Business and Institutional Manufacturers Association, Reuters reported. Shipments rose 2 percent to $975 million. The trade group predicted that full-year orders and shipments will fall by 1.1 percent and 1.8 percent respectively. It forecast that orders will drop 13.1 percent next year, and shipments will plummet 11.6 percent.

France’s state-controlled power company, Electricite de France SA, has made a last-minute bid for some of Constellation Energy Group Inc.’s power plants, which puts it in competition with Warren Buffett’s MidAmerican Energy Holdings Co., the Associated Press reported. Electricite de France offered $4.5 billion for nuclear reactors in Maryland and New York after MidAmerican offered $4.7 billion to acquire the entire company three months ago as Constellation faced bankruptcy. Shareholders have already filed at least a half-dozen lawsuits claiming MidAmerican’s bid was too low, but shareholders may also be concerned about having a French company taking the only foreign ownership stake in U.S. nuclear plants. If Constellation breaks off its deal with MidAmerican, it will owe the company $175 million plus interest.

The Iowa Department of Economic Development is accepting applications for its summer internship program, which gives companies grants to help cover summer internship positions. The application period runs until May 1 or until the program’s funds are exhausted. During the last fiscal year, the program awarded 75 companies grants for a total of 150 internships. For a list of qualifications and requirements, visit www.iowalifechanging.com/business/ic/internship_program.html.