Tickers: November 12
The Technology Association of Iowa has announced recipients of its Women of Innovation Awards. The winners, who demonstrated leadership and innovation in technology, science and engineering, are Jacqueline Shanks, professor of chemical and biological engineering at Iowa State University, research; Andrea Spencer, director of the State Science and Technology Fair, secondary education; Sarah England, director of the Iowa Biosciences Advantage Program at the University of Iowa, post-secondary education; Lorrie Tritch, administrator with the state of Iowa Information Technology Enterprise, nonprofit/government agency; Cindy Rockwell, CEO of CustomerVision in Carlisle, entrepreneurial; Susan Walters-Flood, president of NuWorld Amaranth Inc. in Dyersville, small business; Gayle Roberts, president of Stanley Consultants Inc. in Muscatine, large company/government agency; Julie Rursch, a doctorate candidate in computer engineering at Iowa State, collegian; and Erin Brasser, a ninth-grade student at South O’Brien High School in Paullina, youth. The association received more than 70 nominations for the awards. To learn more about the winners and finalists, go to www.technologyiowa.org.
Moody’s has affirmed Principal Financial Group Inc.’s financial strength and debt ratings, Principal said in a news release. Moody’s said that the rating affirmation was based on Principal Life Insurance Co.’s strong, broad-based position in the U.S. markets for group pensions with a leading position in the 401(k) sector, good asset quality, conservative asset-liability management and strong capital adequacy, as measured by its NAIC Risk-Based Capital (RBC) ratio.
Standard and Poor’s is dropping General Growth Properties Inc. from its benchmark S&P 500 Index. Standard and Poor’s announced Tuesday that General Growth, owner of Jordan Creek Town Center and two other Iowa malls, would be removed from the S&P 500 after the close of trading today and replaced by Cephalon Inc. after the close of trading on Friday. Standard and Poor’s said General Growth was the least valuable company in the S&P 500 as of yesterday, with a market value of approximately $128 million. Chicago-based General Growth warned Tuesday that it might file for bankruptcy if it fails to refinance debt.
DBSI Inc., an Idaho-based real estate investment company that owns the Greater Des Moines Partnership building, 700 Locust St., as well as other properties in Iowa and 33 other states, filed for Chapter 11 bankruptcy protection on Monday, Reuters reported. The company and more than 140 affiliates filed for protection from creditors in the U.S. Bankruptcy Court in Wilmington, Del. DBSI said it has between $100 million and $500 million in assets and liabilities, and between 1,000 and 5,000 creditors.
The Iowa Agribusiness Export Partnership will host an exporters roundtable from 8:30 to 11 a.m. Nov. 25 at the Greater Des Moines Partnership, 700 Locust St. The discussion will center on the collection problems Iowa exporters are experiencing, the challenges international buyers are having with letters of credit and possible solutions for Iowa exporters to get paid on time and in full. Participants will hear from representatives of LeMar Industries Corp., John Deere Credit, Bankers Trust Co., and the Trade Acceptance Group. The cost to attend is $10 and includes breakfast. To register for the event, go to www.desmoinesmetro.com/events. For more information on the event, contact Steve Ferguson, director of Iowa Agribusiness Export Partnership, at 286-4917 or via e-mail at sferguson@desmoinesmetro.com.