Principal Financial Group Inc.’s net income for the second quarter was $168.3 million, or 64 cents per share, compared with $303.8 million, or $1.12 per share, in the second quarter of 2007. Operating earnings were $253.7 million, or 97 cents per share, compared with $282.9 million, or $1.05 per share, in the year-ago period. Net income was affected by capital losses of $85.4 million, which includes $23 million of losses related to impairments of fixed maturity securities (some of which include subprime mortgages), $7.3 million of impairments on equity securities, and capital losses of $55.7 million related to hedging activities. Despite the earnings decline, Principal achieved record results in individual annuities and a double-digit increase in its life and health segment from a year ago. The company hosted an earnings call this morning. To hear a replay, go to www.principal.com/investor”.

Four women will be inducted into the Iowa Women’s Hall of Fame at 10:30 a.m. on Saturday, Aug. 23, at the State Historical Building. The women being honored are Joan Urenn Axel of Muscatine, Barbara Moorman Boatwright of Des Moines, Hualing Nieh Engle of Iowa City and the late Marilyn A. Russell of Des Moines. Jill Olsen, chair of the Iowa Commission on the Status of Women, will present the awards. A governor’s proclamation honoring Women’s Equality Day also will be read and the Cristine Wilson Medal for Equality and Justice will be presented to Dr. Kesho Y. Schott of Grinnell. The Friends of the Iowa Commission on the Status of Women will host a luncheon following the ceremony at 12:30 p.m. at Embassy Suites on the River, 101 E. Locust St., Des Moines. The cost is $35. Register at www.friendsoficsw.org/4.html.

The National Endowment for the Arts (NEA) has given the Iowa Arts Council a $100,000 grant to help the state’s artists and art organizations recover from storm damage. A portion of the NEA funds also will be used to reopen the 2008 Emergency Arts Relief program, which provides small stipends and grants of up to $500 for immediate recovery needs. The remaining NEA funds will be given as grants and stipends ranging from $3,000 to $6,000 to help defray new costs resulting from storm damage or displacement, such as rental fees to conduct programming in unscheduled location or offsite storage of materials. Apply online at www.iowaartscouncil.org. Applications will be processed as soon as possible on a first-come, first-served basis.

The U.S. Small Business Association has launched an electronic loan application that can be accessed at disasterloan.sba.gov/ela. Homeowners, renters, businesses and nonprofit organizations that suffered damage to their personal property in a declared disaster may apply for disaster loan assistance online. The electronic application has a feature that automatically checks for errors and prompts applicants when additional information is needed, making the process of securing a loan quicker.