Tickers: Oct. 27
John Bucksbaum resigned on Sunday as CEO of Chicago-based General Growth Properties Inc., developer of Jordan Creek Town Center in West Des Moines, and this morning the company announced that it will put several of its Las Vegas retail properties up for sale, including the Fashion Show Mall, Grand Canal Shoppes and The Palazzo. General Growth announced that it has made management changes after discovering that its former chief financial officer, Bernard Freibaum, had received a $90 million unsecured loan. Freibaum was fired earlier this month. Longtime president Robert Michaels also resigned on Sunday; the board announced that independent director Adam Metz will serve as interim CEO and Thomas Nolan as interim president. Bucksbaum will continue to serve as chairman.
Marsh & McLennan Cos. Inc. today announced that it has formed Marsh & McLennan Agency LLC, a new business dedicated to serving the insurance needs of small and emerging growth companies in the United States. The agency will conduct its business separately from Marsh’s insurance brokerage operations and will begin operating in the first quarter of 2009 in select cities across the United States. A Marsh spokesman said the company is not yet releasing agency locations.
The Iowa Natural Heritage Foundation and other regional stakeholders will be hosting a Trails and Wellness Summit on Wednesday, Oct. 29, from 12:30 to 5 p.m., at Iowa Public Television, 6450 Corporate Drive in Johnston. The summit will bring together regional leaders to share ideas, identify challenges and outline core values to that will help guide policies and practices at the local, regional and state levels, creating a culture of active living and infrastructure to support it. Registration can be done online at www.trailsandwellness.eventbrite.com.
The 2008 Des Moines University Glanton Scholarship Dinner was held Oct. 23 at The Meadows Events and Conference Center at Prairie Meadows Racetrack and Casino. More than 500 dinner guests attended the event, raising $275,000, which increased the endowment to $1 million for the scholarship for minority medical students. The Honorable Luther T. Glanton Jr. and Willie Stevenson Glanton Scholarship Fund is awarded annually to assist minority medical or health science students at Des Moines University.
The Des Moines Women’s Club will hold its Fabulous Fall Flea Market on Saturday, Nov. 1, from 9 a.m. to 3 p.m. at Hoyt Sherman Place, 1501 Woodland Ave. Coffee and rolls will be available at 9 a.m. and lunch will also be available for purchase from 11 a.m. to 2 p.m. The annual event benefits the Des Moines Women’s Club scholarship program, which provides six scholarships to graduating high school seniors.