Tickers: August 22
The Iowa Division of Labor Services has proposed $101,000 in penalties against Agriprocessors Inc. in Postville for 31 new and repeat violations of state workplace safety laws. Violations include failure to provide safety railings on work platforms, improper storage of compressed-gas cylinders, improper use of temporary wiring and failure to properly guard moving equipment. Agriprocessors has 15 days to respond.
Greater Des Moines home sales reached 800 in July, making it the strongest month for home sales in 2008, the Des Moines Area Association of Realtors announced as part of its “Des Moines’ Hottest Secret” campaign. The average sale price was $174,870, dipping 1 percent from June, and the average time a home stayed on the market increased 1 percent to 95 days, said Mike Stanbrough, association president. The association maintains information about trends in home sales at www.buynowdsm.com.
Ryan Bomer has been elected interim president of the East Des Moines Chamber of Commerce. He will serve the remainder of the term begun by Jim Goodman, who died in June. Bomer is a loan officer with Iowa State Bank. He has been an East Des Moines chamber board member since 2007.
The U.S. Small Business Administration has approved more than $200 million in low-interest loans for Iowa homeowners, renters and businesses who sustained damages from floods, tornadoes and storms. The deadline to file claims for property damages is Sept. 29. More information is available at www.sba.gov/services/disasterassistance or by calling (800) 659-2955 or (800) 877-8339.
Fareway Stores Inc. plans to begin construction of a $39 million distribution center late this year in Boone, where the regional grocery store chain has its headquarters. The project was awarded tax benefits from the state’s High Quality Job Creation program for six of the 16 new jobs to be created after the facility opens in 2010.
Gannett Co. Inc., which owns The Des Moines Register, reported a 12.3 percent decline to $546.4 million in revenues for July compared with a year ago, the Washington Business Journal reported today. A 25.2 percent decline in classified advertising sales reduced publishing revenues 16.7 percent to $340 million. Real estate classified revenues were 37.9 percent lower, employment classified revenues was down 29.1 percent and automotive classified revenue declined 21.1 percent. Broadcast revenues declined 6.1 percent to $61 million, and a 4.2 percent decline in paid daily newspaper subscriptions reduced circulation revenues 2.6 percent to $108.7 million. In the past week, the Register has laid off five reporters and two reporters have accepted buyouts.