The Delta Dental of Iowa Foundation will donate $1.5 million to the University of Iowa Foundation to help pay for a planned major renovation of the building that houses the University of Iowa College of Dentistry. The cost of the renovation is estimated at $45 million, with at least $10 million of that to come from gifts from alumni and others.

Kum & Go L.C., one of the nation’s leading convenience store chains, announced that it retained The Energy Exchange of Chicago to coordinate a sealed bid auction of 21 Kum & Go stores. The properties to auctioned will include 12 stores in Iowa, three in South Dakota, two in North Dakota and one each in Missouri, Montana, Nebraska and Wyoming. Last August, Kum & Go began divesting itself of smaller locations and stores outside its core markets in an effort to focus on increasing the number of larger-format stores. Kum & Go is focusing on developing better efficiencies in its infrastructure as well as creating a stronger asset base. Bidders may bid on one, some or all of the stores. The bid deadline is June 24. To obtain a list of the available stores, contact The Energy Exchange in Chicago at (866) 906-7499.

Kum & Go also announced that it has created the position of vice president of business intelligence to create a “higher level of reporting and business analysis.” Terry Montgomery, who recently served as chief financial officer for the Science Center of Iowa and as a consultant for the Blank Park Zoo expansion, has been hired to fill the position.

A new shuttle service connecting the Capitol complex and Western Gateway Park in Des Moines is scheduled to begin Monday, May 5.The Downtown Shuttle will be free to ride for all employees, residents, and visitors in the downtown area.  The shuttle’s route, called “D-Line,” is a loop running west on Grand Avenue from the state Capitol to Central Campus before turning around to come back east on Locust Street. The shuttle will run from 7 a.m. to 6 p.m., Monday through Friday.  Stops will be posted at each block along the route.  The wait time between shuttles is expected to be less than 10 minutes.

The Securities and Exchange Commission has ordered Banc of America Investment Services Inc. and Columbia Management Advisers to pay nearly $9.8 million to current and former customers to settle allegations that the companies favored their own mutual funds, the Charlotte Business Journal reported. The SEC contends that Banc of America Investment Services selected at least two affiliated funds under the Nations Fund name, using a methodology that was contrary to the company’s previous statements to clients, for inclusion within its wrap fee accounts. With wrap fee accounts, a brokerage manages an investor’s portfolio for a flat quarterly or annual fee. As a result, the SEC says, the company’s Banc of America Capital Management affiliate earned additional fees. Columbia Management is the successor company to Banc of America Capital Management.

Wells Fargo & Co. said Thursday that it bought Denver-based Flatiron Credit Co. from TD Banknorth Inc. for an undisclosed sum, the San Francisco Business Times reported. The company is the seventh-largest lender to those seeking financing to pay insurance premiums. Flatiron, which has an office in San Francisco, was started in 1995 by Robert Pinkerton and Bruce Lundy. Wells Fargo CEO John Stumpf reiterated at the bank’s annual meeting this week that insurance is one the company’s key areas of growth. Wells Fargo plans to retain the Flatiron brand and all of the company’s employees.</