Tickers: July 15
Aviva Investors North America Inc. has named Charles “Chuck” Preseau chief financial officer. Preseau will report to CEO Greg Boal and be based in Des Moines. He will lead all finance and operations functions for Aviva Investors North America. Preseau comes from Promark Global Advisors, formerly General Motors Asset Management, based in New York, where he served as chief financial officer and treasurer.
North Liberty-based Heartland Express Inc.’s net income rose 2.2 percent to $17.6 million in the second quarter compared with the year-ago period, even though operating revenues fell 28.9 percent to $117 million. Operating revenues were affected by a reduction in fuel surcharge revenues as fuel costs fell, and by the economic downturn, which has affected freight volumes and rates. Meanwhile the sale of property and equipment contributed $4.2 million, or 3 cents per share, to the bottom line. The company ended the second quarter with cash, cash equivalents, short-term and long-term investments of $205 million, down $23 million from the end of 2008, mainly from the purchase of new tractors and repurchase of common stock. Its balance sheet remains debt-free.
Coopera Consulting, a subsidiary of the Iowa Credit Union League, has entered into a partnership with Credit Union National Association to provide products that help the 8,000 credit unions in the United States better serve the Hispanic market. The services Coopera will offer in cooperation with Credit Union National Association include assessments, training, consulting, translation and Hispanic consumer products. Learn more at www.cooperaconsulting.com. Click here to read more about Coopera’s start.
Dice, a subsidiary of Dice Holdings Inc., with major operations in Urbandale, has launched Dice Learning, a service for technology professionals to obtain technical training and certifications. Dice Learning offers a search engine with access to more than 50,000 training programs across major technology skill areas. It includes self-paced and instructor-led classes, certification tracks, boot camps, books, videos and seminars. The screening process is designed to help technology professionals evaluate the value of different offerings. Go to learning.dice.com for more information.
Wells Fargo & Co. has sold $600 million in mostly non-performing subprime loans to Arch Bay Capital, the San Francisco Business Times reported, citing National Mortgage News. According to the industry publication, the loans, most of which were originated by Accredited Home Loans and NovaStar Financial, sold for 35 cents on the dollar. Neither party would talk on the record.
The Iowa Small Business Development Centers have agreed to work with the U.S. Small Business Administration (SBA) to assist businesses in reviewing and possibly restructuring their SBA disaster loans after the 2008 natural disasters and the recent economic downturn have created some unexpected difficulties for borrowers. The centers will use special disaster funding from the SBA to hire counselors, accountants and other loan specialists to work with borrowers to review their current debt structure and businesses’ operational issues to help improve performance and profitability. Letters mailed this week suggest borrowers contact their local center by Aug. 14. For more information, go to www.iowasbdc.org.
Lt. Gov. Patty Judge will call on Iowa women today to donate their time and energy by serving on a local board or commission and announce guides to assist women in learning more about those kinds of opportunities. According to a survey by the Iowa Commission on the Status of Women, women make up 18 percent of membership across four economically related county boards. Earlier this year, Gov. Chet Culver signed into law House File 243, which will require gender balance on all local boards and commissions by Jan. 1, 2012. Judge will hold a press conference on the issue at 4:30 p.m. at the West Des Moines City Council Chamber, 4200 Mills Civic Parkway.