Ticker: Dec. 1
West Des Moines-based FBL Financial Group Inc. deserves a new trial on an age-bias claim by a former claims administration director, a three-judge panel of the U.S. Court of Appeals for the 8th District ruled Monday, according to a Reuters report. Jack Gross sued because he believed his demotion was in part because of his age, and a jury awarded him $46,945 for lost compensation. The case, however, will be retried after a jury instruction wrongly shifted to FBL the burden of showing that age was the determining factor in the demotion. See the full story.
Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Iowa Telecommunications Services Inc. that arose from the company’s announcement of its intent to be acquired by Windstream Corp. The investigation is focused on the potential unfairness of the price to Iowa Telecom shareholders and the process by which the company’s board of directors considered and approved the transaction. Based on the closing price of Windstream on Nov. 23, the transaction appears to value Iowa Telecom shares at approximately $16.04, a price less than Iowa Telecom’s 52-week high.
Christian Fong, a Republican gubernatorial candidate, announced that effective today he will suspend his campaign for governor. “Today, I announce the suspension of my campaign. From this time forward, we will not be actively campaigning for the Republican nomination for governor. While today marks a change of direction for our campaign and for myself personally, today is not an end to my passion to see the Iowa Dream restored,” Fong said in a release.
Allegiant Air, which flies out of Des Moines International Airport, will be changing the destination airport for travelers wishing to go to the Orlando area. Beginning March 5, flights will arrive at Orlando International Airport instead of the smaller Orlando/Sanford International Airport, located approximately 35 miles north of Orlando International. Allegiant is offering an introductory sale on Orlando flights for as low as $79.99 each way. Read about the offer at www.allegiantair.com.
Pella Corp. has named David Smart as its senior vice president and chief financial officer (CFO), the company announced today. Smart most recently was the CFO at Ford Australia after spending two decades with Ford Motor Co. in a number of financial management roles.
The Iowa Chamber Alliance will announce its 2010 legislative agenda at a news conference at 10 a.m. Wednesday in the rotunda of the state Capitol. The group will present legislative issues and priorities for 2010 that it believes will strengthen the economy for Iowans now and in the future.
The Iowa chapter of International Association of Business Communicators will host “Going Green: Promoting an Environmentally Friendly Workplace” from 11:30 a.m. to 1 p.m. on Wednesday at Principal Financial Group Corporate One, 711 High St., Des Moines. Registration is required and the event costs $20 for members, $30 for nonmembers and $15 for students. For more information or to register, go to http://iowa.iabc.com.