EMC Insurance Group Inc. today reported a third-quarter operating income of $3.2 million, or 24 cents per share, compared with an operating loss of $295,000, or 2 cents per share, for the third quarter of 2008. The company reported a net income of $5.1 million, or 38 cents per share, for the quarter, compared with a net loss of $9.5 million, or 70 cents per share, for the same period last year. Bruce Kelley, EMC president and CEO, attributed the improvement of premium rates in the third quarter to fewer storm losses than last year and “the rapid recovery in the market value of our investment portfolio.”

KemPharm Inc., a start-up pharmaceutical company in North Liberty, has begun a Phase 1 clinical trial in healthy volunteers of its novel prodrug compound, KP106, which is in development for the treatment of attention-deficit hyperactivity disorder (ADHD). The new compound, which has fewer weight loss and cardiovascular effects and decreased abuse potential compared with current amphetamine-based treatments, is the first of several prodrugs (chemically similar versions of drugs that have fewer side effects than the original) the company seeks to develop. Clive-based DeWaay Capital Management is an investor in the company. See related story.

The number of visitors and travel expenditures in Greater Des Moines are on the rise, driven in part by conventions and sports events secured by the Greater Des Moines Convention and Visitors Bureau and Des Moines Area Sports Commission. According to a study released by the Iowa Tourism Office, Greater Des Moines hosted more than 2.9 million visitors who spent more than $1.6 billion in Polk and Dallas counties in 2008, up 2 percent from 2007. Over the last six years, Greater Des Moines has seen travel expenditures grow by 45.5 percent.

The Iowa Department of Revenue issued its annual assessment limitations, or rollback, order today for property values. No adjustments were ordered for the commercial, industrial, railroad and utility property classes because their assessed values did not increase enough to qualify for reductions, the department said. The total assessed value of residential properties was calculated at $132.4 billion with a taxable value of $62.1 billion, or 46.9094 percent of the assessed value. By comparison, the 2008 residential rollback was 45.5893 percent of the assessed value. Agricultural property, which is assessed at its productivity value, had a 2009 assessed value of $38 billion; the taxable value is $25.2 billion, which is 66.2715 percent of the assessed value. State law permits no more than a 4 percent annual increase in taxable value for agricultural, residential, commercial and industrial properties. County auditors will apply the adjustments to each property class to compute the taxable values used for property taxes.

The Iowa chapter of the Association of Legal Administrators is organizing a statewide casual day, “Jeans for Justice,” with all proceeds going to support Iowa Legal Aid. The Oct. 30 event is open to all members of Iowa’s legal community, including attorneys and staff at private law firms; in corporate legal departments and in government offices; judges, staff and clerks in the judiciary; and all faculty, staff and students at Iowa’s two law schools, Drake University and the University of Iowa. Iowa Legal Aid provides free legal help and information on civil law problems for eligible Iowans.

Several Des Moines area grassroots organizations will gather tomorrow for Climate Carnival, one of more than 3,000 rallies worldwide, urging leaders to take fast and effective action on global warming. According to a release by 1Sky, a collaborative national campaign for strong federal action to tackle global climate change and promote sustainable building practices, Saturday’s event is the first global campaign ever organized around a scientific data point: “350 parts per million CO2 is the safe upper limit for the atmosphere, according to the latest scientific data.” Climate Carnival will be held from 10 a.m. to 2 p.m. at the John and Mary Pappajohn Education Center, 1200 Grand Ave. Iowa Global Warming, Environmental Law and Policy Center, Repower Iowa, Environment Iowa, Drake Environmental Action League, Sierra Club, Iowa Physicians for Social Responsibility, First Unitarian Church of Des Moines-Energy & Justice Action Group, Vegetarian Community of Iowa and Interfaith Power and Light are expected to participate.

Project Lemon-Aid, a collective of people focused on providing tangible information, resources and networking opportunities for the unemployed in Iowa, will hold it next event from 8 a.m. to noon on Monday at Connxions, 3901 121st St., Urbandale. Representatives from Homemakers Furniture and Heart of America Group, as well as three job seekers focused on using social networking and social media in their efforts, will take part in Monday’s panel discussion, followed by two breakout sessions. The event is free and open to the public.