Weekly Market Report

Thirstea, a new beverage franchise, plans to open this summer at 3838 North 168th Street next to Little King in a retail strip in front of Walmart, according to Perkins-Critser Construction, which is building out the space. Thirstea is a different franchise than the Thirst Tea Café restaurants, which have several Omaha locations.

Voodoo Taco has opened a second downtown location in the former Michael’s Cantina space at 1102 Harney Street in the Old Market. Voodoo’s other downtown location is at 25th & Farnam Street.

The Jewell on Capitol, the live music venue in The Capitol District downtown, is making a comeback after closing last fall. The venue, which is located inside the Marriott Hotel, is now hiring servers and bartenders. An opening date has not been formally announced.

B5 Brewing Company opened earlier this month 6115 Maple Street in Benson. Led by master brewer Aaron Bush, the brewery is a collaborative effort with his wife, Kate, and their adult children. The business offers a diverse range of craft beers, each one a unique blend of flavors and craftsmanship.

Zipline Brewing Co. plans to permanently close its taproom at 3803 South 203rd Street next week. Zipline’s downtown taproom at 721 North 14th Street will remain open.

PappaRoti, a Malaysian bakery at 723 North 114th Street in Miracle Hills has closed permanently.

Mega Saver representatives and city officials met with members of the Elmwood Park Neighborhood Association this week to hash out details about a planned gas station and convenience store in the former Fuddrucker’s building at 72nd & Dodge Street. According to WOWT, Mega Saver said it will build a third entrance and exit between its store and the neighboring businesses – Chipotle and Starbucks – to help alleviate traffic concerns.

The “Restaurant & Retail Updates” section is sponsored by Anderson Convenience Market, featuring Quality AMOCO Fuels and serving Omaha since 1952, and proud to announce the return of Quality Amoco Fuels. Look for changes this Summer at Anderson Convenience Market – 8 Omaha area locations!

Learn more about Anderson Convenience market at www.Anderson1952.com

Review: A Google search leads to Phôba, where you can find a memorable, delicious bánh mì sandwich

Nebraska Unicameral Paves the Way for Downtown Omaha Soccer Stadium

Isaiah Ang, Contributing Writer

The University of Nebraska Board of Regents approved a $72 million contract with McCarthy Building Companies to construct the University of Nebraska Medical Center’s CORE building at Saddle Creek Road & Farnam Street. It will house administration offices and research facilities. Completion is planned for summer 2026.

Additionally, the Regents approved items related to UNMC’s Project NExT – an amendment to the interlocal agreement between UNMC and the City of Omaha and funding for the planning of Phase 1. Project NExT will be completed in phases, beginning with “Project Health,” consisting of $2.19 billion academic teaching hospital facility. The city will provide up to $45 million toward planning and construction and $20 million for public improvements. The approved funding for planning phase of Project Health totals $9.1 million and will involve engaging HDR and Kiewit Building Group.

The Omaha City Council approved an amendment Tuesday to increase the amount of tax increment financing for the Crossroads redevelopment project from $79 million to nearly $102 million, according to KETV. The project’s start date has been delayed to 2025.

The Eastern Omaha Athletic Association is planning to build a $41.6 million,130,000 sq. ft. athletic facility on the campus of Nathan Hale Middle School near 60th & Sorensen Parkway, according to the Omaha World-Herald. The project would include the renovation and construction of two outdoor practice fields and a parking lot. The facility would increase access for youth sports in east Omaha.

The Council Bluffs City Council approved a contribution of $50,000 to qualify for an Enhance Iowa grant of $1 million to help fund the River’s Edge Phase 4 improvements. $47 million has already been raised through grants and donations for the $50 million project, which includes an adventure tower with outdoor climbing wall, roll glide, interior caving space, elevated treetop trail, and pier.

A dog park is planned for a greenfield between the Tom Hanafan parking lot and the I-480 bridge. Additionally, a new children’s playground was shown south of the I-480 bridge, north of the River Park by Broadmoor and east of the levee trail. Grading and clearing of trees for the adventure tower and treetop trail are underway. Construction is projected to be complete in 2025.

Local artists can apply to create permanent public artwork for the new Central Library under construction at 72nd & Dodge Street. The call will remain open through June 9th. Artists, artist collectives and collaborative groups in the Omaha area are eligible to apply. A selection committee will award project budgets in amounts from $5,000 to $100,000 for the artists to create their new works. Details and the application are HERE.

The City of Omaha’s annual Memorial Park concert and fireworks will take place Friday June 28th, according to Mayor Jean Stothert. The headline act will be announced in a couple weeks. The concert will begin at 6:30 p.m. with fireworks starting around 10 p.m.

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AMCON Distributing Company, an Omaha-based convenience and foodservice distributor, has signed an asset purchase agreement to acquire Richmond Master Distributors, Inc. of South Bend, Ind.

Union Pacific Corporation today reported 2024 first quarter net income of $1.6 billion, or $2.69 per diluted share. This compares to 2023 first quarter net income of $1.6 billion, or $2.67 per diluted share.

HDR is once again one of the industry’s top design firms, coming in at number six, according to annual rankings by Engineering News-Record. It marks the 10th consecutive year the company has ranked in the Top 10. Standings are based on annual revenue. HDR’s 2023 design revenue was $3.1 billion.

Darland, an Omaha-based construction company, recently completed construction of a 61,000 sq. ft. warehouse near Highway 50 & Interstate 80. Southern Carlson, a commercial tool, fastener and jobsite supply company, occupies the entire space. The building features 26-foot-clear ceiling height and eight dock doors.

A federal jury Monday said BNSF Railway contributed to the deaths of two people who were exposed to asbestos decades ago when tainted mining material was shipped through a Montana town where thousands have been sickened, according to MarketWatch. The jury awarded $4 million in compensatory damages to each of the estates of the two plaintiffs, who died in 2020. Omaha-based Berkshire Hathaway acquired BNSF in 2010.

For an eighth straight month, Creighton University’s Rural Mainstreet Index sank below growth neutral, according to the April survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and energy. The region’s overall reading for April increased to 45.8 from 38.0 in March, or its lowest level since June 2020. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.

Green Plains Inc. will release first quarter 2024 financial results prior to the market opening on May 3rd, and then host a conference call beginning at 8 a.m. Central to discuss first quarter 2024 performance and outlook.

Mutual of Omaha has been named on the Forbes list of Best Employers for Diversity 2024. Mutual is ranked sixth among 500 companies and is listed second among insurance companies.

The Greater Omaha Chamber is now accepting applications for its Leadership Omaha Class 47. This 10-month program develops effective leaders who will strengthen and transform the community. You can apply HERE by May 6th.

The Metro Omaha Builders Association Spring Parade of Homes will showcase 40 new houses across the metro priced from $300,000 – $3.5 Million. Open to the public on April 27–28 and May 4–5, this event allows visitors to explore homes ranging from affordable housing to luxurious estates. Hours are 12 to 5 p.m. Details are available HERE.

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LEADERSHIP & MANAGEMENT

Rather than focusing on a problem, effective leaders direct their attention toward the solution, according to Indeed Career Guide. They may do this by focusing on company goals and developing a plan to meet those goals. Effective leaders prioritize so they can complete the most urgent tasks first.

Automation eliminated twice as many jobs between 1980 and 2018 as it did between 1940 and 1980, according to the Quarterly Journal of Economics. Sixty percent of jobs in 2018 didn’t even exist in 1940.

Jamie Dimon, CEO of JPMorgan Chase, says now more than ever the economy is resembling the stagflation era of the 1970s when both inflation and unemployment were high but economic growth was weak, according to Fortune. But the economy is actually doing fairly well right now, to which Dimon responds: “Remember, in 1972 you felt great, too. And before any crash, you felt great, and then things change.”

Business Travel – The U.S. Department of Transportation unveiled two new rules affecting commercial air travel, according to CNBC. The first rule requires airlines to be more transparent about extra fees, and the second to issue cash refunds automatically, rather than in response to customer requests. Implementation will range from six months to two years.

Alcohol consumption per capita in the United States has been up recently, according to Statista. In the 1970s, the amount of alcohol consumed in the country was even higher than today, however. The share of drinkers in the U.S. stood at around 70 percent in that decade, compared to 60 percent today. Generally, the country has far fewer drinkers than many European nations.

SALES

Seventy-nine percent of marketing leads at the typical company never convert into sales, according to MarketingSherpa. Lack of lead nurturing is the most common cause.

How can you tell if a sales meeting is successful? Sales reps leave more aligned with the company, more energized to sell and better equipped to do their jobs!

The BragBird online sales training program gives you an edge when competing for new business. There are 40 modules, each a different topic with a video and matching workbook. It’s only $79 per month and group discounts are available. You can cancel at any time. If you’re ambitious, click HERE now!

WISDOM

“Better to remain silent and be thought a fool than to speak and remove all doubt.” – Abraham Lincoln

Did you know Omaha’s population density is 3,658 people per square mile? Omaha is a denser city than Lincoln (2,937), Des Moines (2,428), Tulsa (2,044), Kansas City (1,614) and Oklahoma City (1,122). The cities in our region that are denser than Omaha are Chicago, Minneapolis, Denver and St. Louis.

Did you know that Creighton University has a second campus in Phoenix? The 195,000 sq. ft. Phoenix campus focuses on healthcare education.

Did you know the worst disaster in Omaha history may have been the 1913 Easter Sunday tornado? The storm killed 140 people, injured another 300 and destroyed 1,300 houses

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2024 Benson Film Festival from April 26th-28th: The vision of Benson Film Festival is to incorporate neighborhood artists and businesses, highlight filmmakers and create an immersive and connective experience for the community. They aim to bring local, national and international artists & filmmakers together in the Benson Creative District! Each day features a different schedule of films, events and music.

Spring Cocktail Party on April 27th: Enjoy a sip of spring at the 3rd Annual Spring Cocktail Party! Each participating establishment is offering a signature spring cocktail sure to delight your taste buds. Visit as many neighborhood establishments (all within walking distance of each other in Midtown) as you like, in any order you like, and cast your vote for the best cocktail in midtown! Continue the fun with The Kindling Co flower bar in Farnam Court; come build a spring bouquet based on your favorite cocktail.

Spring Open House on April 27th: The Hot Shops artists invite you to their annual Spring Open House. Meet the current artists, learn more about their tools and processes, see demonstrations and purchase their latest works! The artwork ranges from drawings, paintings and photography to sculptures, pottery, glass art, weaving, quilts, jewelry and architectural pieces.

Kölsch Day on April 28th: Escape the distractions of modern life – no TVs, no loud music. Kölsch Day is an opportunity to savor a meticulously crafted brew and connect with fellow enthusiasts in a traditional, intimate setting. Scriptown’s Cecilia Kölsch is an easy-drinking German-style blonde ale which is a beer style that’s the pride of the Rhineland. Your Kölsch will be served in a .2L glass called a “stange,” from wreath-like trays, called a “kränze.” Their Köbes (beer waiters) will wander through the Tap Room ,and whenever they see an empty stange, it will be replaced with another full glass—and your coaster will be marked. This is a 21+ event with communal seating!

Yoga in The Garden on April 30th: Created to soothe the nervous system, this class is gentle on the body yet dynamic in cultivating inner peace. Led by Jen Guerrero, the series will include standing and seated postures for strength and balance. No yoga experience needed. This class is perfect for beginners and welcoming to experienced yoga practitioners who seek a peaceful practice in a lovely setting. Bring whatever props (i.e., pillow, mat, cork blocks, bolster, eye-mask, blanket) that you feel are necessary in making your practice the most comfortable it can possibly be. Pre-registration is required!

Keeping the Tax Man Away with Debbie Taylor on May 1st: No matter your tax bracket, there are steps you can take now to help minimize the taxes you’ll owe in retirement. If you file your taxes in the spring and forget about it the rest of the year, you could be missing out. Learn to avoid tax “gotchas” at this free dinner event with Thrivent and Debbie Taylor, founder and lead wealth advisor with Taylor Financial Group. Registration is required, seating is limited, pre-register now!

Security National Bank has named James Huerter, III as senior vice president and Nebraska market president. He is the grandson of the bank’s founder, Clarence Landen, Jr. Huerter has 13 years of banking experience and graduated from St. Louis University with a degree in finance.

ES Law has added attorney John Bachman to its team. He specializes in zoning, land use, real estate development, leasing, financing and acquisition and sale transactions. He earned a law degree from Creighton and a Bachelor of Science in Business Administration degree from the University of Nebraska.

United Risk, a division of Omaha-based Applied Underwriters, has announced the appointment of Jay Cahill as Chief Financial Officer. New York-based United Risk provides international property and casualty insurance underwriting and distribution.

The Greater Omaha Chamber is a catalyst and connector, advocating for businesses small and large. Learn, share and grow with more than 12,000 professionals from 3,000 member businesses across Greater Omaha. Click HERE to see our latest events.

Ben Graham’s classic book on investing, The Intelligent Investor, was written almost 80 years ago. At that time, electronic trading, 24/7 news media, hedge funds and algorithm programs were decades away.

Graham defined “investors” as those who use the financial health of a company as their decision-making criteria. Everybody else is a speculator.

Today’s financial media uses the word investor to describe anybody or anything, that makes a market transaction. This use of the word “investors,” results in a false impression of the market’s functionality. A quick review of last week’s events helps illustrate my point.

The market started the week with considerably less volatility than the previous week’s roller coaster ride. My guess is that Mr. Market finally got around to taking his meds. What’s else changed? Nothing! Inflation remained elevated, and the Fed continued to publicly ponder its next inconsequential move. Trading volume was below normal and Caitlin Clark got drafted, just like everybody expected.

Thursday night, sometime shortly after 8 o’clock, news broke that Israel had launched a direct attack on Iran. With cat-like agility, I immediately jumped to Yahoo Finance to check the S&P futures. In less than a minute, the S&P futures went from flat to down more than 2 percent This was not the result of tens of thousands of “investors” responding to this news after careful, rational analysis. It had to be computer-generated. An analytical response would have taken the brainiacs at the Fed and academia six months to complete.

When morning rolled around, the futures had clawed back close to positive. The market spent the rest of the day flopping back and forth, moving some 17 percent in the process. At the close, the S&P was down 1.7 percent and the Dow was UP .2 percent? (All 30 Dow stocks are in the S&P 500???)

While this may sound like total chaos, there is a group of “investors” who understand that this has become the norm and have learned how to deal with it, and prosper. These are ordinary citizens who rely on their own resources to manage their assets. They are skeptical about the wisdom of the legacy Wall Street firms and their media enablers. They have developed their own paradigm of how the stock market operates.

As a result of their revolutionary thinking and actions, they have reduced their investment costs and improved their investment returns. Their mantra is “Forget the Needle, Buy the Haystack.” (With the posthumous permission of Prof. Graham, I have dubbed them “The Internet Investors”).

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The Grow Omaha radio show broadcasts live every Saturday morning at 9:00, but now you can watch videos of each episode instead of just listening.

Grow Omaha’s brand-new website features video footage shot inside the radio studio during each week’s show!

Videos include News of the Week, Lightning Round, guest interviews, and “Grow Omaha Uncut,” a behind-the-scenes look at what happens during commercial breaks.

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