Tickers: March 30
General Growth Properties Inc., owner of Jordan Creek Town Center, has ended its effort to get a nine-month reprieve from bondholders after its proposal failed for the third consecutive week, The Wall Street Journal reported. For months, General Growth has attempted to negotiate with its lenders to postpone payment deadlines on portions of its $27 billion debt load as they come due, but on March 16, a payment deadline for $395 million in company bonds passed without payment. General Growth warned in filings with the Securities and Exchange Commission that it might need to seek bankruptcy court protection if it can’t win reprieves on payment deadlines from its lenders.
Gov. Chet Culver is in Redmond, Wash., today trying to shore up plans for the Microsoft Corp. data center that was planned for West Des Moines. In a meeting expected to take place today, Culver said he will urge Microsoft to move forward with its plans for the $500 million data center, which was postponed earlier in the year after the company announced 5,000 job cuts. The Microsoft project was supposed to create 75 high-paying technology jobs with an average salary of $70,000, and site preparation had already started.
A Johnston development forum will take place on Wednesday from 4:30 to 5:45 p.m. at the Pioneer Hi-Bred International Inc. Conference Center, 7000 N.W. 62nd Ave. The event will include an update on the Merle Hay Road Improvement Project, an overview of the city’s watershed assessment and information about Johnston’s Capital Improvement Plan. Register by calling Heather Wilcox at (515) 276-9064.
The West Des Moines Leadership Academy is currently accepting nominations and applications for next year’s class, which will begin in September. The West Des Moines Leadership Academy is designed for existing and emerging leaders who live or work in the community. To nominate an individual, send his or her name and contact information to the chamber office at info@wdmchamber.org, or to apply online, visit www.wdmleaders.org. The deadline to submit an application and letters of recommendation is June 30. For more information, contact the West Des Moines chamber at (515) 225-6009.
The Young Women’s Resource Center’s 10th annual Sit on It! auction will be held April 4 at the Forte Banquet and Conference Center in Des Moines, 615 Third St. The silent auction begins at 6:30 p.m., and a dinner will be held at 7:30 p.m. The program and live auction will begin at 8 p.m. Tickets are $50 per person or $500 per table and can be reserved by calling the Young Women’s Resource Center at (515) 244-4901, Ext. 101. The auction will feature chairs, tables and other functional objects of art created by local artists and donated by local merchants, as well as spa, golf, vacation and entertainment packages.
The Money Smart Women Conference, which is part of an annual outreach program hosted by about 100 partnering organizations, businesses and government agencies across the state, will be held April 18 at Drake University’s Olmsted Center starting at 8 a.m. Break-out sessions will focus on investing, money-saving secrets, retirement strategies, identity fraud, credit reports and more. Those interested must register at www.womenandmoneyconference.com. Seating is limited to the first 200 reservations.