Weekly Market Report – April 27, 2023

Muchachos is getting very close to opening its Omaha location along 13th Street in Little Bohemia. The restaurant was looking for a few more staff members as of early this week. Muchachos is a New Mexico-inspired barbeque place from Lincoln.

Good news – Legends Café at 501 South Main Street in downtown Council Bluffs plans to stay open. After announcing the restaurant would close, the owners have found new buyers to take over operations, according to the Omaha World-Herald.

Pause Coffee Shop recently opened at 7515 Main Street in Ralston. Now the locally owned business is adding treats from Pettis Pastry.

Fleet Farm plans to build a 150,000 sq. ft. store plus a gas station northwest of 192nd & Highway 370 in the 60-acre Gretna Landing development. Fleet Farm sells outdoor, sporting goods, farming, pet care, hardware, home goods and other products. The Wisconsin-based retailer has approximately 50 stores in the upper Midwest and is planning another Omaha store at 183rd & West Maple Road.

O’Reilly Auto Parts is nearly done building a new store at 59th & Sorensen Parkway. O’Reilly has 14 existing Omaha-area locations.

The Hy-Vee grocery store under development in Gretna northeast of 192nd & Highway 370 will open on a yet-to-be-announced day in June.

Elegant Edge to Go has opened at 9821 Giles Road in La Vista. The locally owned business is a grab-and-go café, specializing in coffee and espresso drinks, protein shakes, clean energy drinks, made-to-order breakfast and lunches and catering meals.

The new Julio’s Tex-Mex restaurant at 655 North 114th Street in Miracle Hills has closed permanently. The Julio’s at 19102 remains open for business.

Three businesses have opened at Westroads Mall. Fix Max repairs smart phones and tablets. Legendary Wolf Games has moved to a 4,500 sq. ft. space on level 3 near Von Maur. TikTokker Trendway has opened on the second level between Rue 21 and LensCrafters.

Wine, Beer and Spirits’ downtown Omaha location has installed new signage on the Old Market Lofts building, replacing the old Thunderhead Brewing signage. The locally owned liquor store opened in a 6,500 sq. ft. space at 11th & Jones Street last month.

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: At Omaha Bagel Co., from-scratch takes on new meaning

By Sarah Baker Hansen

Around 9 a.m. on a recent weekday morning, I met a friend in the parking lot of the Dundee Theater on a secret mission: collecting a dozen bagels from the Omaha Bagel Co.

The cottage bagel bakery, which has been around for almost a year, only accepts orders via text message until farmers market season begins, and I wanted to try my first bites in anonymity, hence the secret part of this baked good mission.

The secret, though, is about to be out: Omaha Bagel Co. is making some damn good bagels. Tinged with the flavor of sourdough, the inside has the right amount of chew, and the exterior has an impressively bubbly, crisp crust.

They’re pretty, too: softly rounded with a hint of shine, they look handmade because they are. There’s plain, yes, but also many appealing flavors, like asiago cheese, crusty French toast and rosemary sea salt. They’re the kind of baked good that, once I lay eyes on, I simply am not able to resist.

The second time I picked up bagels, I did it under my own name, and drove to co-owner Henry Shields’ home to pick them up; he told me while standing in his driveway that Omaha Bagel Co. is a family operation, and a side gig: Both Henry and his wife, Michelle, have full-time day jobs — he at ConAgra and she as a nurse — and their three young children are involved in the business, too.

I left with round two of bagels, and curiosity about how the Shields family does it all. (More on that later.)

The texture of the bagels is spot-on. I grew up devoted to West Omaha’s Bagel Bin; these bagels have the same chew as the interior of those bagels, but where they’re different is the exterior: the outside almost pops with crispness as you cut into one, and the bubbled finish is thanks to that active sourdough starter the Shields use in their recipe, which Henry developed.

There’s several savory choices and a handful of sweet ones. Among my favorites: A deeply savory asiago cheese bagel, its outside coated in a layer of browned cheese that has a rich, nutty flavor. A sophisticated sea salt and rosemary combination, where the chunky flakes of salt add to the bagel’s crispy exterior in a pleasant way.

I made one of the sesame bagels into a sandwich one day for lunch, and I highly recommend toasting one and topping it like I did, with a layer of tuna salad and some pieces of butter lettuce. Also good: the classic everything, studded with poppyseeds, sesame seeds, salt, garlic and dried onions, among other spices. The two seedy bagels were among my favorites because again, just great texture. Highly recommend smearing one with a bit of the shop’s thick homemade cream cheese.

I could eat one of the French toast bagels daily if I didn’t care at all about my pant size. A better version of a Panera cinnamon crunch bagel, the Omaha Bagel Co. version is coated almost all the way around in a thin layer of sweet, brittle-like cinnamon crispy bits. The bottom, coated in more buttery cinnamon, approaches a sticky bun. It’s absolutely delicious.

The two other sweet flavors I tried — cinnamon raisin and chocolate chip — are good, too. Butter or cream cheese compliments both, but I’ll admit to ripping several bites off the bagels in my box and eating them with nothing at all.

Henry Shields said he got the idea of becoming a bagel baker during Covid. He’d drive past a location of Bruegger’s daily on his way to the gym and wonder: “Why are there so many cars in line there?”

He wondered: Is there a gap in Omaha’s locally made, quality bagel scene? He decided to find out, even though, as Michelle pointed out, he had never made a bagel in his life.

He started scanning online auctions, and found a commercial mixer for sale in Hebron, Nebraska, about three hours outside of Omaha, and bought it, planning to pick it up the following weekend. But instead, the seller said he had to be there that day, so he took the afternoon off work, drove to Hebron and stuffed the giant machine into the back of his Honda CRV.

“Then begins,” he said, “the whole thing of ‘How do I make a bagel?’”

He spent a ton of time tweaking different recipes. He got a sourdough starter from a friend, Andrea, named the starter after her and learned how to feed it and keep it alive. He called baker Ellie Pegler, who used to run Omaha’s Farine + Four, asked her for advice, and she taught him the method. He also applied for city permits and a license to make and sell bagels and cream cheese.

Michelle started social media accounts for the bagel business, and through their partner, No More Empty Pots, they got a booth at the Aksarben Farmers Market last summer. That first week, Henry made 120 bagels.

“I had no idea if we would sell them or if we would come home with all these bagels,” he said.

The lot was gone in the first half hour of the market. Omaha Bagel Co. was born.

Now, the family, including Will, 7; Jack, 5; and Maddie, 3; start baking on Thursday night, when Henry gets home from work. Michelle is in charge of dough now, and focuses on things like the temperature of the room where she makes it, the activeness of the starter and other sciencey baking stuff. The shaped, unbaked bagels get stored in a big commercial fridge in the family garage overnight, and then, the next morning, are baked for a short time at high heat; Henry said the family has several convection ovens throughout the house.

Local deliveries and pickups start Friday morning and continue through Saturday, and the company sells about 500 bagels a week. They’ll make 700 for the Sunday farmers markets, which they’ll be back at again this spring.

Henry said that a brick-and-mortar store for Omaha Bagel Co. is his dream, and he envisions a spot where entrepreneurs like himself could meet over a bagel and talk about their own business dream.

“The vision of a little shop where people come and talk about so much more than bagels is the ultimate success, in my mind,” he said.

Omaha Bagel Co.
Instagram.com/omaha_bagel_co
https://www.facebook.com/omahabagelco

Bagel flavors are listed each week on Instagram/FB. Friday and Saturday are the typical baking days, but an effort is always made to accommodate mid-week requests, when possible. Orders must be made before noon on Thursday for pickup or delivery on Friday. Saturday orders follow the same timeline of noon the day prior. Delivery is available within five miles of 96th and Center from 7:45 a.m. to 9 a.m., and pickup is from 9:00 a.m. to 9:30 a.m. The address will be provided to pick up orders upon confirmation. A dozen bagels is $24, and plain cream cheese is $4. For more information, or to order, DM via Instagram, text or call 402-706-2529

An Omaha-Council Bluffs Streetcar

Already part of the same metro area, Omaha and Council Bluffs could become even more intricately connected.

Earlier this week, the Omaha Streetcar Authority voted unanimously to approve a letter of intent to share information and coordinate with the City of Council Bluffs.

The purpose of the agreement is to open the possibility of a streetcar line from downtown Omaha, across a yet-to-be-constructed bridge over the Missouri River and into Council Bluffs. That bridge would likely carry pedestrian and bicycle traffic as well.

Such a bridge would likely be constructed just south of the Interstate 480 bridge and could cost up to $100 million. Omaha’s $300 million streetcar system is scheduled to be operational in early 2026. No timeline currently exists for a Council Bluffs extension. Approximately 19,000 Council Bluffs residents currently travel to Omaha for work each day.

If the future streetcar does end up spanning the Missouri River, it would probably run along 1st Avenue toward downtown Council Bluffs.

First Avenue, a former rail corridor vacated in 2013, is located one block south of West Broadway, the city’s main thoroughfare, according to the City of Council Bluffs’ website. Roughly 60 percent of Council Bluffs residents live within one mile of this corridor. The West Broadway Corridor Plan (adopted July 2015) proposed transforming the former rail line into a multi-modal corridor featuring trails, transit, and redevelopment.

During this week’s meeting, Omaha Streetcar Authority president Jay Noddle stressed that the streetcar is not necessarily intended for just one city, rather it should be viewed as a regional benefit. It would not be unusual for the streetcar to operate in both states; Omaha’s bus system, Metro, currently operates on both sides of the river.

If Council Bluffs does hook up to the streetcar system, it could be a development boon for that city’s Riverfront, Broadway/1st Avenue corridor and downtown. Council Bluffs officials have said publicly that the streetcar could allow the city to sell Dodge Park Golf Course (just east of downtown Omaha), turning it into a dense, pedestrian-oriented, mixed-use development area.

This section is sponsored by RENZE. For over 128 years, we have been providing our clients with innovative solutions for interior corporate and retail branding, as well as unique exhibits and graphics for tradeshows and events. With leading-edge equipment and quality craftspeople working out of our 90,000 sq. ft. facility, we partner with you to help create your vision. Check out our recent branding of Toast’s Aksarben location HERE!

Heartwood Preserve Construction – Several buildings are under construction at Heartwood Preserve, the 500-acre, mixed-use development southwest of 144th & West Dodge Road. Construction on two buildings that will serve as the relocated homes of Charleston’s Restaurant and Mahogany Prime Steakhouse are framed and being enclosed.

To the west of the restaurant buildings, Gunderson’s Jewelers is building a flagship store. Just north of that, Capitol Cigar Lounge will build a 2-story building. Along 144th Street, in front of Charleston’s and Mahogany, construction is expected to go vertical soon on a free-standing Starbuck’s building as well as a retail strip, which will have a Little King Deli and Subs in addition to other tenants.

Noddle Cos. plans to construct a 175,000 sq. ft., 9-story office building at 6470 Frances Street in Aksarben Village. The building would be constructed on the current site of the sand volleyball courts southeast of HDR’s global headquarters and directly south of the Inner Rail Food Court.

The Douglas County Board postponed a vote planned this week to approve construction of two mental health facilities near the Douglas County Jail southwest of 16th & Jackson Street downtown. The two facilities combined would be 72,500 sq. ft. and cost $60 million.

CORE Kid’s Gym has opened in Standing Bear Plaza at 144th & Fort Street. The business serves infants through 10-year-olds and offers gymnastics, tumbling, strength classes, birthday parties, and open gyms. Enrollment for summer classes, which kick off June 12th is underway. CORE Kid’s Gym is a sister company to CORE Dance Company.

The Gallery, an event space in downtown’s Capitol District has reopened after a renovation that doubled the venue’s space and created larger restrooms and outdoor patios. Managed by the Omaha Marriott Downtown next door, The Gallery can accommodate up to of 400 people.

Nebraska’s unemployment rate dropped slightly to 2.1 percent and is now tied with North Dakota for second lowest in the nation, according to Nebraska Examiner. Nebraska’s labor force participation rate was 69.5 percent, the highest in the country.

Omaha is #8 on Realtor.com’s Emerging Housing Markets Index in the first quarter, which ranked the 300 largest metro areas for home buyers seeking an appreciating housing market. Lafayette, Ind. was #1. Sioux City, Iowa’s metro area (which is partly located in Nebraska) was #7. Here are some regional results: Minneapolis #98; Denver #114; Sioux Falls, S.D. #138; St. Louis #145; Lincoln #186; Chicago #225; Kansas City #250; Des Moines, Iowa #278.

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We are just over a week away from the “Woodstock for Capitalists.” Berkshire Hathaway’s annual meeting will take place at CHI Health Center Omaha Saturday May 6th. Festivities begin the day prior with the Berkshire Bazaar of Bargains and Borsheims Shareholder-only Shopping Night.

Union Pacific Corporation reported 2023 first quarter net income of $1.6 billion, or $2.67 per diluted share. These results include $107 million in other income from a one-time real estate transaction. This compares to 2022 first quarter net income of $1.6 billion, or $2.57 per diluted share.

Eakes Office Solutions will hold a ribbon cutting in conjunction with the Greater Omaha Chamber on April 27th for Eakes’ new office at 11109 Q Street.

Green Plains Inc. and Green Plains Partners LP will release first quarter 2023 financial results prior to the market opening on May 4th, and then host a joint conference call beginning at 8 a.m. Central to discuss first quarter 2023 performance and outlook.

Valmont Industries, Inc. announced a quarterly dividend of $0.60 per share payable on July 14th to shareholders of record on June 30, 2023. The dividend indicates an annual rate of $2.40 per share.

Secret Penguin, an Omaha-based branding agency, is moving a few blocks north from the Tip Top Building at 1516 Cuming Street to the Hello Apartments building at 1200 North 12th Street in Millwork Commons, according to PJ Morgan Real Estate.

Midwest Fidelity Partners has purchased the former Ronald J. Palagi building at 3131 S 72nd Street. NAI NP Dodge’s Jorge Sotolongo represented the seller while John Meyer and Jordan Estee represented the buyer. The 51,468 sq. ft. building sold for $2.1 million.

AMCON Distributing Company, an Omaha-based consumer products company, has declared a quarterly cash dividend of $0.18 per common share. This cash dividend is payable on May 18th to shareholders of record as of May 5, 2023.

Werner Enterprises is among the first group of carriers to test renewable natural gas through Cummins Engines. The Omaha-based, Fortune 1000 trucking company hopes to achieve a 55 percent reduction in carbon emissions by 2035.

After declining below growth neural for March, Creighton University’s Rural Mainstreet Index expanded above the threshold, according to the April monthly survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. The region’s overall reading in April climbed to 50.1 from March’s 45.6. A reading of 50.0 or greater represents growth neutral.

U.S. economic growth decelerated to a 1.1 percent annual rate in the first quarter as consumers faced high inflation, rising interest rates and the onset of banking problems, according to the Wall Street Journal. GDP growth in the fourth quarter of last year was 2.6 percent.

Consumer confidence fell this month to the lowest point since July 2022, persisting below a level that usually presages recession during the following 12 months, according to CFO Dive.

Bed Bath & Beyond filed for chapter 11 bankruptcy and said it expects to close all of its 360 Bed Bath & Beyond and 120 Buy Buy Baby retail locations eventually. Store-closing sales have already started at some locations. We are waiting details about the company’s Omaha-area stores.

This section is sponsored by FranNet of The Heartland, the local, trusted franchise experts. They are “in the business of helping you get into business!”

Compiled by Grow Omaha co-founder and sales trainer Jeff Beals.

Leadership & Management

An effective leader must be able to make choices and stick with them, according to TeamBuilding.com. Leaders may be more confident in their choices when they know they have thoroughly explored all alternatives and planned for all potential outcomes.

Among 357 professionals surveyed, nearly half said that remote work made it easier for colleagues to get away with rude behavior such as interrupting on calls and not returning emails, according to the Wall Street Journal.

How do you know if you’re in the lower-, middle- or upper-class income range? Cost of living varies from one city/state to another, but in general, lower-income households had 2020 income of less than $48,500. Upper-income households made more than $145,500. Middle-income households fell in a range between those numbers, according to Yahoo! Finance.

According to Ramsey Solutions’ 2023 “State of Personal Finance” report, the number of Americans who reported difficulty paying bills increased by 42 percent over the past two years. One-third of Americans who make more than $100,000 a year are living paycheck-to-paycheck.

It will take a long time to remedy the national worker shortage, but recent enrollment data show trade school interest is rising with double-digit increases in many vocational programs: mechanic-repair (+11.5%), construction (+19.3%), precision-production (16.7%) and culinary (+12.7%), according to The Hustle.

Sales

If you have a customer with an opportunity, you have to help them with it right now, according to sales author Mark Hunter. “Once you get an inbound lead, you have one minute to call them back.” Speed sells because prospective customers have an itch, and if they don’t get it taken care of, they’re going to go someplace else.

Fifty percent of buyers choose a vendor who responds first, according to HubSpot.

When your sales story is great, everything is easier, says Mike Weinberg, best-selling author. If your sales messaging is poor, there are consequences:

• Ineffective prospecting/not securing enough meetings
• Lacking the confidence to initiate contact with prospects
• Getting lumped in with other suppliers (and getting commoditized)
• Having a hard time articulating value or justifying your higher price
• Opportunities stalling and deals going dark

Wisdom

“The most effective way to lead is to lead from within.” – Lolly Daskal

Grow Omaha University is sponsored by MyStaff Inc, a locally owned staffing firm whose purpose is helping Nebraska companies recruit for corporate office positions.

My Staff Inc – Our team helps you find yours!

Hot Shops Spring Open House (Preview Night) on April 28th: Immerse yourself in a world of creativity and inspiration at the Hot Shops’ Open House Preview Night! Be prepared to be amazed as you wander through three floors of exquisite artwork created by Omaha’s largest artist collective. Get to know the resident artists, learn about their unique creative processes and witness live demonstrations of their artistry. From stunning paintings to intricate sculptures, from pottery to glass art, from weaving to quilts, from exquisite jewelry to architectural masterpieces, this artwork is sure to leave you spellbound!

Doggy Barket on April 29th: Attention dog lovers! Get ready for the ultimate pup extravaganza – it’s like a farmer’s market, but for your furry best friend! This event is a dog lover’s dream come true, featuring over 20 local, dog-friendly vendors with everything your pup could possibly want or need. Come to Dewey Park and celebrate your furry friend with fun!

Party for the Planet on April 29th: Join Omaha’s Henry Doorly Zoo and Aquarium in celebrating Earth Day at Party for the Planet on Saturday, April 29 from 9 a.m. to 3 p.m. The event, which is free for members or included with paid admission, features a range of activities to help visitors learn about and support conservation efforts. Highlights include shopping for sustainable and conservation-focused products from seven local vendors, attending presentations from Nebraska Wildlife Rehab on creating a backyard wildlife refuge, and participating in a scavenger hunt. Educational booths will also be located throughout the zoo, with a bounce house set up on the Desert Dome Plaza. Come and discover ways to protect our planet and its wildlife at this fun and informative event!

Leashes at Lauritzen on May 1st: Dogs love going on an adventure – make your next night out with your four-legged friend an evening garden stroll during Leashes at Lauritzen! This event is an enjoyable night for dogs to walk the trails, meet other dogs, take photos among the flowers and foliage and meet other dog lovers. Water will be available at stations throughout the garden. Visit the garden’s website for a list of rules and regulations that ensure the safety and enjoyment of our visitors, their dogs and protect the garden’s plant collection!

Jason Isbell and the 400 Unit on May 2nd: Get ready for a night of soul-stirring music with multi-Grammy winner Jason Isbell at the Orpheum Theater! As one of the most successful and respected figures in the alt-country and singer/songwriter communities, Isbell’s music is full of Southern grit and introspective storytelling. His raw, rootsy flavor has evolved into something powerful! Isbell’s work with The 400 Unit and Drive-By Truckers has earned him widespread acclaim, and his solo career is nothing short of extraordinary. Don’t miss your chance to experience the raw emotion and masterful storytelling of Jason Isbell live in concert!

This Upcoming Events section is sponsored by Eagle Mortgage Company, is a locally owned and full-service mortgage company in Omaha.

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Lindsay Corporation has hired Tara Meier as vice president of global marketing and communications. Her focus areas include strategic brand management, internal and external communications, market research and customer experience. Meier will report to Gustavo Oberto, president of global irrigation. Prior to joining Lindsay, Meier was global executive director of marketing at Chevron Renewable Energy Group.

WoodmenLife has hired Jacob Enenbach as associate general counsel. Prior to WoodmenLife, Enenbach worked as Douglas County deputy attorney from 2012 to 2018; and as senior associate at Engles, Ketcham, Olsen & Keith P.C., from 2018 to 2023. He earned a Bachelor of Arts from DePauw University and Juris Doctor from Saint Louis University.

Mutual of Omaha has promoted Jason Sommerfeld to vice president of claims in workplace solutions. He joined Mutual in 2011 as a short-term disability claims analyst. He was promoted to appeals specialist in 2013, supervisor of claims in 2014, manager of claims in 2017 and director of claims in 2020. Sommerfeld earned a bachelor’s degree from Bellevue University.

Scooter’s Coffee has named Bill Black as Chief Community Officer. He will help the company expand its community give-back programs and overall philanthropy.

Union Pacific executive vice president and Chief Human Resources Officer Beth Whited was named to the Constellation ESG50 for 20223, an award that represents influential, sustainability-focused executives who are making a significant impact in their respective fields. The selection process is powered by nominations from peers, industry influencers, technology vendors and analysts.

The “People in the News” section is sponsored by Baird Holm LLP. Baird Holm’s dedicated team of real estate lawyers has extensive experience in all aspects of real estate law, including purchases, sales, zoning and land use, leasing, and dispute resolution. Click HERE for more information.

For the past several decades, American companies have been snuggling up to their Chinese counterparts because they are able to produce goods in China at a lower cost than they are at home.

This worked for both countries because the Chinese government sought to keep their growing middle-class content by allowing free enterprise to operate.

This past year, the Chinese government made a mid-course correction in their economic stance. They are moving towards greater control over the entire society and are bringing the economy into the tent.

Several related data points – India now has the largest population in the world, surpassing China’s. As a result of China’s aging population, their birth rate is declining and their economy is growing at significantly less than the double-digit numbers we have grown accustomed to. As a sign of things to come, Apple opened their first retail store in India. It was significant enough that Steve Jobs was there to turn the key. This is not an isolated event.

As an aftermath of the pandemic supply chain disruption and the new Chinese government policy, American companies are faced with a conundrum. Do they continue the current relationship or seek other sources of production? An unintended consequence of moving on could be a reluctance of China to import American goods. Bottom line…Investors need to monitor the impact of the changing international trade environment.

Now onto my favorite topic: index funds. Ninety million Americans collectively own $12 trillion in index funds. A portion of these stockholders consciously choose these funds. However, a significant number of investors have robo accounts where the fund selection is made by a broker. The normal robo account contains between eight to 15 mutual funds, and we see a trend towards increasing the numbers of index funds and reducing the number of actively managed funds in these accounts.

My totally non-scientific, observation is that 99 percent of the robo accounts include an international component. The international component of choice is either an emerging-nations fund or a China fund. The average emerging-nations fund is down 9 percent. The average China fund is down 12 percent year-to-date.

My message is that, you are an adult: If you are aware of what you own, go for it. If you are less aware, you may want to take a peek.

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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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