WB Capital Management Inc. has named Jon Augustine as its chief investment officer. Augustine has 27 years of experience in the financial services industry, most recently as director and equity group manager for WB Capital.

Wells Fargo & Co. has named Tim Billerbeck as division manager for Wells Fargo Commercial Banking Central Division, as part of its combination of Wells Fargo’s commercial lending operations with Wachovia Corp. The division includes Iowa, Nebraska and Kansas City, Mo., as well as Wells Fargo’s agribusiness, beverage and environmental specialty groups. Billerbeck, who will remain based in Des Moines, had served as regional vice president of Wells Fargo’s Regional Commercial Banking Office since 2005. In other news, Wells Fargo has acquired Capital TempFunds, a New York-based lender. It will become a part of Wells Fargo’s business credit division’s staffing solutions business, the New Mexico Business Weekly reported.

E.I. du Pont de Nemours & Co. Vice President James Borel said he expects its Johnston-based Pioneer Hi-Bred International Inc. business to increase its global seed corn market share by at least 1 to 2 points this year, with gains in Latin America, Africa and Asia. He expects revenues in DuPont’s Agriculture & Nutrition platform, which includes Pioneer, to grow by 6 to 8 percent per year over the next five years, with earnings increasing by an average of 15 percent over that time. To hear Borel’s presentation, go to the DuPont Investor Center at www.dupont.com.

Sioux City-based Terra Industries Inc.’s net income for the fourth quarter was $164.7 million, or $1.65 per share, compared with $68.4 million, or 66 cents per share, in the year-ago period. For all of 2008, Terra’s income was $631.9 million, or $6.20 per share, compared with $196.8 million, or $1.90 per share in 2007. Revenues rose by $114.5 million in the fourth quarter, compared with fourth quarter 2007, mainly due to a sharp increase in the price for nitrogen products. However, pricing pressures and production cuts in the late fourth quarter led to a $49.8 million charge related to derivative and inventory valuation. The company also declared a dividend of 10 cents per share, payable on April 7 to shareholders of record March 18.

U.S. wholesalers’ inventories declined 1.4 percent in December after a revised 0.9 percent decrease in November, Bloomberg reported. Sales fell 3.6 percent after a 7.3 percent decline in November. Companies are expected to continue to cut back production as demand continues to wane in the United States and abroad. Wholesalers had enough products stockpiled to last 1.27 months at the current sales pace, the highest level since 2002.

As the Feb. 17 deadline looms to present a plan to the government that the company is becoming viable, General Motors Corp said it will cut 10,000 salaried positions, as well as reduce executive pay by 10 percent and salaried workers’ compensation by 3 to 7 percent. Most of the job cuts are expected to happen by May 1. To prove its viability, GM must show an ability to repay government loans of $9.4 billion and prove “positive net present value.”

The inaugural Iowa Not-for-Profit Conference will take place Feb. 16-17 at the Des Moines Marriott Downtown, 700 Grand Ave., followed by Cultural Advocacy Day on Feb. 18. Barry Griswell of the Greater Des Moines Community Foundation and Martha Willits of the Greater Des Moines Partnership are the honorary chairs of the conference. For more information, go to www.infpa.org.