Property tax assessments on agricultural land and buildings will increase an average of 48 percent in Iowa due to increasing crop yields and prices, the Iowa Department of Revenue announced this morning. However, an assessment law limits the annual change of the statewide taxable value of agricultural land and buildings to 4 percent. Three-fourths of the counties had an increase in productivity value between 40 and 60 percent. In Polk County, the 2009 productivity value increased by 59 percent, to $233.39 million. Statewide, ag property values increased to $37.95 billion. The assessments for land per acre and buildings for each county are available online at www.state.ia.us/tax/locgov/propagricultural.html.

Newspaper publisher McClatchy Co. announced today it plans to slash 1,600 jobs, or about 15 percent of its work force, Reuters reported. The company also said it will reduce the base salary of its chairman and CEO, Gary Pruitt, by 15 percent, and cut other executive officers’ salaries 10 percent. The publisher of 30 daily newspapers, including The Sacramento Bee and The Fort Worth Star-Telegram, has been trying to reduce costs in order to meet debt payments associated with its 2006 purchase of the Knight Ridder Inc. newspaper chain. McClatchy said it expects to incur approximately $30 million of severance costs in connection with the job cuts, which will affect nearly every area of the company.

The Greater Des Moines Partnership will host a seminar on Friday from 8 to 11:30 a.m. on the lower level of Hy-Vee Hall titled “Leveraging the Federal Stimulus Bill in Central Iowa.” The seminar will feature a panel discussion that will examine what the stimulus bill means for Central Iowa, the programs it will affect and the ways Iowa can best position itself to take full advantage of the bill. 2009 Government Policy Council Chair Brian Laurenzo of Dorsey & Whitney will moderate the panel and Partnership President and CEO Martha Willits will provide a summary. The seminar will cost $15 per person for members and $25 for nonmembers. Online registration is available at

www.desmoinesmetro.com/events. For more information, contact Meg Fitz at mfitz@desmoinesmetro.com or 515-286-4934.

Last week, Gov. Chet Culver nominated Rob Berntsen, an Iowa native and utility attorney, to serve as the chair of the Iowa Utilities Board; the appointment requires Senate confirmation. If approved, Berntsen’s term would begin May 1 and continue through April 30, 2015. Berntsen, 39, currently serves as corporate counsel to Vectren Corp., an energy holding company based in Evansville, Ind.

Mercy College of Health Sciences’ board of directors approved the Mercy College Summer 2009 Tuition Discount Plan, which will offer tuition relief for those seeking to register for classes this summer. Discounts will range from $500 to $1,750, depending on the number of courses in which the student enrolls. The college will hold a Health Care Career Seminar on Wednesday from 9 a.m. to noon on the Mercy College campus to answer questions about the program. Pre-registration can be completed online at www.mchs.edu/discountplan. To earn the discount, prospective students need to meet admission requirements and have documentation that they were laid off after Sept. 1, 2008.

Drake University alumni and Arizona business leaders Daniel Schweiker and James Myers will share their expertise on entrepreneurial ventures in a presentation titled “Finding Your Niche” in Drake’s Sheslow Auditorium, 2507 University Ave., on Wednesday. The presentation is free and open to the public and will start at 7 p.m. The lecture is part of Drake’s spring 2009 Executive in Residence series, co-hosted by Drake’s College of Business and Public Administration and the Donald V. Adams Leadership Institute.

Capital One Financial Corp. announced today that it will cut its dividend by 87 percent, and expects the reduction to save more than $500 million annually. The company will reduce its quarterly dividend to 5 cents per share from 37.5 cents per share starting in the second quarter. Capital One said it expects to declare its next quarterly dividend in April, which will be paid in May.