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5 ON FRIDAY: FUEL FOR THOUGHT January 12, 2017

by Steve Dust, CEO, Greater Cedar Valley Alliance & Chamber

5 on Friday is a two-way street: please send me recommendations on books, reports, articles, blogs, videos, or anything you’re reading or watching that impacts business and the economy.

 

ONE: Deere Prospectus

Manufacturing dominates the Cedar Valley economy. John Deere dominates Cedar Valley manufacturing in many ways. As a publicly traded firm, there is a great deal of information available about John Deere and its performance in the global market. Today, the company released its 2018 Proxy Statement. It is important reading even if I can’t say it’s fun reading. There are other informative documents published on the website.

Deere & Company, Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934, January 12, 2018

TWO: MidAmerican Energy News

Many Cedar Valley businesses benefit from low electric and natural gas energy rates – both directly and through other utilities, and at high reliability levels – delivered by MidAmerican Energy. As you likely know, MidAmerican is part of Berkshire Hathaway Energy, which is, of course, part of Berkshire Hathaway (Warren Buffett). There were big changes in top leadership at Berkshire Hathaway this week when Berkshire Hathaway Energy’s CEO Greg Abel was elevated to Vice-Chair of Berkshire Hathaway. Bill Fehrman, who many of you have met as CEO of MidAmerican Energy, has been elevated to CEO of Berkshire Energy, and Adam Wright is now CEO of MidAmerican Energy. We look forward to having a meeting of customers soon to meet the new leader of MidAmerican. Here’s info about Buffett naming Greg and another fellow as vice-chairs of Berkshire Hathaway.

Berkshire Hathaway Names Abel And Jain As Vice Chairmen As Buffett Succession Plans Sharpen, Antoine Gara, Forbes, January 10, 2018

Here’s a link to the MidAmerican Energy news release on Bill Fehrman and Adam Wright assuming new roles.

New Leadership for MidAmerican Energy Company, MidAmerican Energy News, January 11, 2018

THREE: Predictions for Manufacturing

Even the newest Cedar Valley resident knows that manufacturing plays a dominant role in our region’s economy. Courtesy of International Data Corporation (IDC) research firm, here are some high-level predictions for that sector well beyond 2018.

Top 10 Worldwide Manufacturing Predictions, Kimberly Knickle, IDC Community, November 8, 2017

FOUR: One More set of Predictions in Tech for 2018

The CEO of a tech support firm that helps business owners and leaders design technology adoption has set out a few one-year predictions, mostly on tech we already know about.

Top 10 Tech Trend Predictions For 2018 From A Tech CEO, Heinan Landa, Chief Executive, January 5, 2018

FIVE: When Should a CEO Tweet?

The nation’s CEO’s predilection to communicate via Twitter notwithstanding for a moment, there is always a question about when owners/CEOs/senior managers should use social media to communicate about controversy. Here’s some good guidance.

When Should a CEO Tweet about a Controversy? Strategy+Business, Eric J. McNulty, January 4, 2018

In the Media: Skubal on Sears Closing

“… Lisa Skubal says the closing doesn’t necessarily speak for the local economy.

‘We certainly don’t want to see something like Sears close, regardless of the size,’ said Skubal. ‘But it becomes something we can’t control. They have to do what’s in their best interest. But when we see other businesses in that area develop and grow-the business model isn’t the same for every company. We’re seeing that by growth of new retail establishments in and around that area and in the Cedar Valley.'”

Lisa Skubal is Vice President of Economic Development for the Greater Cedar Valley Alliance & Chamber.

Sears to close in Waterloo, Written by Elizabeth Amanieh, KWWL Reporter, KWWL, January 4, 2018

In the Media: Courtyard by Marriott opens on TechWorks Campus

“I’m really excited about it,” she said. “It’s a seven-year commitment coming full circle,” since the hotel project first was conceived in 2010. “First it was one step forward, two steps back; then two steps forward and one step back; then just full steam ahead. It’s been an interesting progression. And we couldn’t find a better developer or better hotel partners.”

Cary Darrah, President of TechWorks Campus and Vice President of Community Development for the Greater Cedar Valley Alliance & Chamber, is quoted in this article about the opening of Courtyard by Marriott Waterloo Cedar Falls.

Courtyard by Marriott opens in former Deere building, Pat Kinney, The Courier, December 19, 2017

 

In the Media: Dust comments on possible ALO runway closing

“Steve Dust, an airport board member and director of the Greater Cedar Valley Alliance and Chamber, said he believes the airport property could be attractive to new employers.

‘We’ve got 300 acres around our airport that’s been planned for industrial development,” Dust said. ‘One of the things that’s becoming more and more important again is rail service.”

Potential Waterloo runway closure draws fire, Tim Jamison, The Courier, December 21, 2017

In the Media: Dan Tindall, architect, historic preservationist, and owner of the Blackhawk Hotel, dies

Cary Darrah, President of TechWorks Campus and Vice President of Community Development, is quoted in this article about the passing of Dan Tindall, the man who purchased and renovated downtown Cedar Falls’ historic Blackhawk Hotel.

Man who renovated landmark Cedar Falls hotel dies, Pat Kinney, The Courier, December, 23, 2017

 

5 on Friday: Fuel for Thought December 15, 2017

by Steve Dust, CEO, Greater Cedar Valley Alliance & Chamber

 

Remember: 5 on Friday is a two-way street: please send me recommendations on books, reports, articles, blogs, videos, or anything you’re reading or watching that impacts business and the economy.

ONE: HowFactory.com – Manufacturer’s New Bestie

As a new part of 5 on Friday, I’m going to highlight a Cedar Valley product or firm from time to time. There’s no better place to start than HowFactory.

HowFactory should be the best friend of any process dependent enterprise. The brainchild of IT guru Trace Steffen, How Factory is blossoming into one of the Cedar Valley’s top new and scaling products. You may remember the HowFactory’s team won a 2016 Howard Brock Innovation Award from the Alliance & Chamber.

Trace and his team of knowledge documentation warriors describe HowFactory’s capabilities this way: HowFactory is the simple platform that allows users to manage the knowledge critical to your team’s success and growth. The company’s tagline: “We’re not your father’s How-To Manual.” I encourage you to take the HowFactory suggestion and sign up for a 14-day test drive of the platform at www.HowFactory.com. Give Trace and his team a call to get a better idea how to align your firm’s knowledge base with an exciting, visual way of communicating and monitoring. #CedarValleyMade

Start your 14 day free trial

TWO: What’s Next for 3D in Manufacturing

Additive manufacturing – 3D printing – is a big deal in the Cedar Valley. If you have not yet seen the Additive Manufacturing and Design Lab on the first floor of TechWorks Tech 1, you need to! We made a big deal in 2013 out of the first big sand casting machine that was delivered, but several more production scale printers and scanners have been delivered since then. The design lab is in Tech 1, too. This asset has brought business and attention to the Cedar Valley. What’s next for this technology? This article charts a probable course for industrial applications of 3D printing.

New frontier: Here’s where 3D printing is headed next in industrial manufacturing, Christine LaFave Grace, Plant Services (Putman Media), December 7, 2017

THREE: Pass-through Entities and the Tax Bill

This is an informative, brief piece on the potential impacts of the Fed Tax Reform on the important pass-through structure for business.

Pass-Through Rate In Focus As Congress Gears Up For Tax Vote, Patrick Gorman, Chief Executive, December 14, 2017

FOUR: Sales Growth Hacks

It’s all about knowing your customer.

10 Growth Hacking Strategies to Triple Your Sales, R.L. Adams, Entrepreneur, December 5, 2017

FIVE: George Friedman Forecasts 2018

There are many forecasts for 2018 from many different directions. Here’s one you need to read, from George Friedman of Geopolitical Futures. He’s one of the best informed, objective observers out there.

[PDF] 2018: A Year of Tenuous Stability, Geopolitical Futures, 2017

In the Media: James quoted in ELM expansion article

Wes James, Vice President of Operations at TechWorks Campus, is mentioned in this article about the Grundy Center expansion of lubricant manufacturer ELM. ELM founder Lou Honary and James developed a new way of using microwaves to process grease to eliminate the dangers of heat transfer oils.

Grundy Center firm back ‘on track’ after disastrous 2007 fire, by Pat Kinney, December 10, 2017

5 on Friday: Fuel for Thought December 8, 2017

by Steve Dust, CEO, Greater Cedar Valley Alliance & Chamber

Remember 5 on Friday is a two-way street: please send me recommendations on books, reports, articles, blogs, videos, or anything you’re reading or watching that impacts business and the economy.

ONE: Chicago Fed on the Midwest Economy

The most recent Midwest Economy Index, from the Chicago Federal Reserve, measures nonfarm business activity in the Fed District’s multi-state area of the Upper Midwest.

Midwest Economy Index (MEI), Federal Reserve Bank of Chicago, November 30, 2017

TWO: What NAFTA Means to Iowa

A still-hot topic is whether the 25-year-old North American Free Trade Agreement (NAFTA) will survive, and, if so, in what form. This is a simple infographic that shows what NAFTA means to states. Spoiler alert: nearly half of all exports are headed for NAFTA nations. Tariffs would be damaging to our manufacturers and producers. Iowa is No. 7.

Which States Would Be Hit Hardest by Withdrawing from NAFTA?, U.S. Chamber of Commerce, November 17, 2017

THREE: The Reconciliation on the Federal Tax Reduction Bill

There’s a lot of discussion now about what a tax reform/reduction should look like. Each of us must decide our view on business tax, and then again how it impacts us at home. This is a good article about what the reconciliation process will look like as the Senate and House meet to smooth differences to the final bill.

Tax Package Next Steps: Reconciling Differences, Wells Fargo Economics, December 4, 2017

Four and Five: What Does A Blockchain Do? 

The final two links of the day are about something called blockchain, a “distributed electronic ledger that uses software algorithms to record transactions with reliability and anonymity.” We see it starting in transactions of various kinds that require collaboration among parties, whether distance is an issue or not. I’ve been learning about it as a part of our emphasis on technology in our Greater Cedar Valley 2021 business development plan. Two of the better items I’ve read include the following. The IBM article is a detailed primer.

FOUR: Strategist’s Guide to Blockchain, John Plansky, Tim O’Donnell, and Kimberly Richards, Strategy+Business, January 11, 2016

FIVE: Blockchain for Dummies, Manav Gupta, IBM Limited Edition, 2017

In the Media: Waterloo renews contract to fund Alliance & Chamber

The City of Waterloo approved a new contract with the Greater Cedar Valley Alliance & Chamber: $28,500 plus $56,500 in incentive payments.

“Lisa Skubal, GCVAC vice president of economic development, said those efforts landed $37 million in projects and 246 new jobs in the first six months of the fiscal year, primarily from expansions at Crystal Distribution Services and Tyson Fresh Meats…

Skubal said the city’s internal economic development staff is ‘transaction oriented’ and willing to work with prospects to get deals done. The challenge was Waterloo’s high property tax rate.

Alliance and Chamber CEO Steve Dust said the city is generally able to cover the property tax discrepancy through additional incentives to businesses.

‘You burn through incentives overcoming the property tax issue,’ he said.

Dust said one of the biggest issues on the horizon involves talent development, which is why the GCVAC is working on programs to recruit and train the work force businesses need to thrive locally.”

Waterloo renews GVCA contract, Tim Jamison, The Courier, November 28, 2017

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