Weekly Market Report – August 11, 2022

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Saddlecreek Breakfast Club will open a new location in early 2023 in a former Starbuck’s bay at 8734 Pacific Street in Countryside Village. The original “SCBC,” as customers like to call it, is at 1540 North Saddle Creek Road.

Gravy Train has opened at the Inner Rail Food Hall at Aksarben Village. The restaurant serves homemade biscuits including biscuits and gravy as well as other biscuit-related items. Gravy Train’s owner had been selling product inside the All About Bees store in Ralston and at farmers’ markets.

Sunnyside Elkhorn has opened in a brand-new retail strip at 2611 North 204th Street. The breakfast-and-lunch restaurant’s original location in known as Sunnyside on Center and is located at 3528 Center Street.

Jojo’s Diner has opened its third location in a 3,056 sq. ft. space at 1213 Harney Street in the Old Market. The restaurant has signed a lease for a fourth store in a yet-to-be announced location.

Walt & Willy’s Creamery opens tomorrow in the Oak View Mall food court. The store will sell fresh-made cinnamon rolls, brownies, mini donuts, cupcakes, churros, made-from-scratch ice cream, shakes, smoothies, hand crafted chocolates and boba tea.

Knockout Haircuts for Men, a sports-themed, full-service salon plans to open its first Nebraska store at Cornhusker Pointe (Cornhusker Road & Fort Crook Road) in Bellevue. Dallas-based Knockout is a privately held company founded in 2002 with locations in multiple states. The largest concentration of Knockout salons is in Texas and Oklahoma. The closest existing location to Omaha is in St. Joseph, Mo.

StretchLab Elkhorn has opened at 20110 Pierce Street. The company offers “one-on-one assisted stretching in a boutique fitness atmosphere.” Stretchlab has four locations in the Kansas City area and four in Minneapolis-St. Paul.

5.11 Tactical has opened its first Nebraska/Iowa store at 721 South 72nd Street across the street from Nebraska Furniture Mart. 5.11 Tactical is an Irvine, Calif.-based brand with 96 locations in 31 states and nine countries. The company sells outdoor apparel, footwear, uniforms and tactical equipment.

A retail chain based in Edina, Minn. plans to open at Regency Court. Daily Thread sells affordable women’s fashion at 43 stores in 12 states. The closest existing stores are in Lincoln and Sioux City.

Blue Frog Tattoo is opening in a 2,056 sq. ft. space on the lower level of 1208 Howard Street in the Old Market.

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

7 Omaha Companies Make the 2022 Fortune 1000 List

Fortune magazine is famous for its lists of America’s largest companies. This year’s lists show that four Omaha-based companies made the Fortune 500 list and an additional three made the Fortune 1000 list. The seven Omaha companies were the only ones in Nebraska to make either of the lists.

The biggest Omaha company also happens to be the 7th largest company in the entire nation: Warren Buffett’s Berkshire Hathaway, which had total revenue of more than $276 billion, a 12.5 percent increase from last year. Profits were $89.795 billion, a 111.2 percent increase. Berkshire’s #7 ranking is actually a drop from last year’s #6 spot. Worldwide, Berkshire employs 372,000 people. The company’s headquarters building is located in the Blackstone District.

In many ways, Omaha’s history has been defined by the Union Pacific Railroad. That iconic American company was founded 160 years ago and is still headquartered in Omaha to this day. Union Pacific Corp. is the 163rd largest company in the United States, down from #153 last year. UP had gross revenue of $21.8 billion last year, an increase of 11.6 percent. Profits were $6.523 billion, up 21.9 percent. UP has more than 32,000 employees. UP’s 19-story headquarters building is located at 14th & Douglas Street downtown.

The third largest company in Omaha is Peter Kiewit Sons’, one of the largest construction contractors in the world. Kiewit ranked #313, which was 70 spots lower than last year. Total revenue was more than $12 billion. Profits were $753 million. Nearly 29,000 people work for Kiewit around the world. Kiewit’s executive offices are located in a brand-new building in North Downtown.

Omaha’s fourth largest company is Mutual of Omaha, coming in at #324 with gross revenue of nearly $11.5 billion and 5,739 employees. Mutual is already a high-profile company thanks to its Wild Kingdom television presence. That profile will only get bigger in 2026 when it moves into its skyscraper headquarters building downtown.

Coming in at #750 on the Fortune 1000 list is Omaha’s fifth largest company, Valmont Industries. The manufacturer of infrastructure and agricultural irrigation equipment is headquartered near 156th & West Dodge Road. This $3.5 billion company employs more than 11,000 people worldwide.

Omaha’s sixth largest company is Green Plains, an agri-tech and renewable energy company headquartered in Aksarben Village. The #870 company on the list, Green Plains has $2.827 billion in gross revenue but only employs 859 people.

No matter where you drive in the United States, you’re likely to see Werner Enterprises’ trucks driving down the highway. Werner is one of the nation’s largest trucking firms and is the 892nd largest company in America. It is the final Omaha company to make the list. Revenues were $2.734 billion driven by 13,525 employees. Werner’s headquarters building is located near Interstate 80 & Highway 50.

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Urban Village, an Omaha-based real estate developer, plans to build a 5-story apartment building at 1508 Marcy Street. That’s just sound of 15th & Leavenworth downtown. The lot is currently occupied by aging industrial structures. Plans call for 82 apartments. The project will be a Transit Oriented Development, allowing it to have fewer on-stie parking stalls than is typically required.

Footings are going in for the future Fairfield Inn by Marriott, a 90-room hotel planned for MH Landing, the new development on the site of the old Ramada Inn Coco Key Resort near 72nd & Grover Street.

Much of the historic Schimmel Indian Hills hotel near 85th & West Dodge Road, which in recent decades was used by Methodist Hospital, has been demolished. The current owner, Children’s Hospital & Medical Center, is clearing the site for future development.

After 20 months of construction, Building Omaha is opening a 24,000 sq. ft. addition to its Electrical Training Center at 8960 L Street. A grand opening will take place Friday, August 12th at 10 a.m. The existing training building was built in 2002. The new addition puts the campus at more than 56,000 sq. ft. Since 2002, more than 1,000 people have graduated from Building Omaha’s apprenticeship program.

The YMCA of Greater Omaha recently opened its new Buena Vista YMCA Express at 60th and L Street, which is in partnership with Omaha Public Schools and co-located with the new Buena Vista High School. This new branch is a “technologically-enhanced, fitness-focused boutique location that offers personalized, goal-driven workout experiences for all levels of wellness seekers, age 14 and up.”

The Lozier Foundation signed a 10-year lease at the Landmark Center at 1299 Farnam Street downtown, according to CoStar. The nonprofit organization is set to move into 10,166 square feet on the 14th floor of the 299,000 sq. ft. building.

The Lozier Foundation was established in 1986 by the late Allan Lozier, CEO of the Omaha-based retail fixture manufacturing company, Lozier Corp., and his wife, Dianne Seeman Lozier. It has funded charitable and civic efforts of many types around the region, but puts a particular emphasis on “education, social services and issues involving women and children, with an emphasis on the inner city and underrepresented populations.”

New research has revealed the states which have had the largest increases in productivity since 2012, with Nebraska recording the ninth highest improvement of 16.86 percent. The research, conducted by Digital-Adoption.com, analyzed 10 years of annual labor productivity data from the Bureau of Labor Statistics to establish the states which improved in labor productivity the most from 2012 (private nonfarm sector).

Since 2012, labor compensation in Nebraska grew 43.66 percent, and value-added output also raised 46 percent, going from $76.76 billion to $111.83 billion. Employment and hours worked have only slightly risen, increasing by 3.65 percent and 1.65 percent over ten years, respectively.

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Real Estate News from CoStar – Land has been one of the strongest-performing commercial real estate sectors in the past year and a half as investors have flocked to the physical foundation for all real estate development.

CoStar Group’s U.S. Land Index, a tool used to track the property type, increased 12.6 percent in the 12-month period that ended in June and is now 33.9% higher than its February 2020 pre-pandemic level. READ MORE

Applied Underwriters has announced new promotional partnerships with champion golfer Luke Donald, recently named European Captain for the Ryder Cup 2023, and racing legend Michael Andretti.

Berkshire Hathaway reported second quarter operating earnings of $9.3 billion, an increase of 38.8 percent year over year. The increase was driven by higher earnings in railroad, utilities and energy as well as manufacturing, service and retail businesses.

Workshop, a platform for distributing and measuring internal email and communications, has raised $5.2 million in additional seed funding. The round was led by Omaha-based McCarthy Capital. This additional round of investment follows a pre-seed round for $3.5 million in April 2021.

Werner Enterprises, Inc., one of the nation’s largest transportation and logistics companies, has declared a regular quarterly cash dividend of $0.13 per common share. This dividend will be paid on October 18, 2022, to stockholders of record at the close of business on October 3, 2022. Werner Enterprises has paid a quarterly cash dividend to its stockholders every quarter since July 1987.

Bankers Life has leased 2,733 sq. ft. at 12020 Shamrock Plaza (northwest corner of 120th & Pacific Street), according to Gabrielle Estivo of NAI NP Dodge, who represented the tenant.

Construction is well underway on an FNBO bank branch building on the northeast corner of Highway 370 & Highways 6/31 in Gretna.

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-founJeff Bealsder and sales trainer 

Leadership & Management

Business author Mike Weinberg offers The Four R’s of Smart Talent Management:

1. Right People in the Right Roles
2. Retain and Maximize the Performance of Top-Producers
3. Remediate or Replace Underperformers (coach-up or coach-out)
4. Recruit

If you think it’s difficult to coach your team virtually, you’re not alone. 54 percent of leaders say they are less effective coaches because their teams work virtually. 76 percent of virtual leaders say that not being physically present with their teams has made it harder to observe and coach. More than 80 percent of leaders say coaching is the difference between success and failure, but only 25 percent of them say their coaching has gotten easier due to remote work.

Sales

Attention sales leaders: You know it’s important to train your sales reps, but there’s probably something gnawing at you — How do you measure the effectiveness of training programs? How do you know you’re getting a good ROI? Here are six revenue metrics from Allego to evaluate the effectiveness of your sales-training programs:

1. Average offering price
2. Time to first deal (for new reps)
3. Average sale size
4. Percent goal achievement
5. Per capita number of deals
6. Sales team attrition

If these six metrics improve after completing the sales training curriculum, you know you got what you paid for.

It is easy to get frustrated when a prospective client doesn’t move very quickly. That leads many sales practitioners to give up too soon. Consider these two statistics from MarketingDonut: Only 2 percent of sales happen at the first meeting; and 83 percent of prospects who request information don’t buy for three to 12 months. You must stay vigilant; don’t give up too easily.

Wisdom

“A leader is one who knows the way, goes the way, and shows the way” – John C Maxwell.

“A boss creates fear, a leader confidence. A boss fixes blame, a leader corrects mistakes. A boss knows all, a leader asks questions.” – Russel Ewing

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!

Late Nights at the Zoo (21+ Event) – August 11 and August 18: Adults 21 and over can join Omaha’s Henry Doorly Zoo and Aquarium for a relaxed evening of drinks, local food truck cuisine and wildlife as we host our Late Nights at the Zoo summer event series!

Outlandia Music Festival on August 12: Ready for another Music Festival? Come to Outlandia for 2 days of music from 12 bands, including Wilco, The National, Band of Horses, Local Natives and more! Don’t wait, get your tickets today!

Union Omaha vs. Northern Colorado Hailstorm FC on August 13: Union Omaha, the 2021 USL League One Champions, will be taking on Chattanooga Red Wolves SC at Werner Park on August 13th at 7 p.m. The night’s theme is Women in Sports Night, where we’ll be welcoming and celebrating the achievements of local youth clubs and girls’ organizations!

Millwork Conversations Presented By Google | Borris Powell on August 17: Millwork Conversations is a happy hour chat between Omaha’s creators, innovators, artists, thought leaders and activators. Joining us this month is Conversation Leader, Borris Powell a Chicago Fashion Designer debuting a new collection at Omaha Fashion Week. Borris is a Chicago fashion designer who will tell a deeply personal story of his life as a little boy growing up in Alabama, trying to be his authentic self, even when that flew in the face of gender norms of the day.

Opera Outdoors on August 19th by Opera Omaha: Opera Outdoors is a FREE, family-friendly outdoor concert featuring a sampling of opera’s greatest hits and previews of Opera Omaha’s upcoming season. The concert is open to the public; and this year’s event will be hosted in English and Spanish. In addition to spectacular singing, the evening will include pre-concert activities in the popular FREE Kid’s Zone, featuring balloon animals, arts and crafts station and lawn games for all ages.

Music at Miller Park by Omaha Performing Arts on August 20: A free community concert put on in partnership with Nelson Mandela Elementary School, Minne Lusa and Miller Park Neighborhood Associations, Omaha Performing Arts and other community partners. The final performance on August 20th will feature A powerful evening of gospel and soul music with Nebraska native Jarron Taylor and Cross Bearing Nation.

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!

Howard Hawks, co-founder and chairman Omaha-based Tenaska, will step back from his role as chairman of the board effective January 1st. He will remain engaged with the company as chairman emeritus. Current CEO Jerry Crouse will transition into the role of chairman. Chris Leitner, currently president of Tenaska’s Strategic Development and Acquisitions Group, will succeed Crouse, assuming the role of president and CEO of Tenaska.

Brian Thomas has joined NAI NP Dodge as a licensed commercial real estate broker. He previously was affiliated with Nebraska Realty. He completed a long career with the U.S. Airforce in December 2020 when he retired as Command Chief Master Sergeant at Offutt Air Force Base’s 55th Wing.

Larry Richling, founder of the iconic Hollywood Candy store in the Old Market has sold the business to a group led by Jim Kristl, according to KETV. The new ownership does not plan major changes to the store.

Gordon Harnisch is now senior vice president with Bankers Trust Company, where he will focus on commercial real estate lending. Harnisch was formerly with Great Western Bank, which is now known as First Interstate Bank.

The Nebraska Safety Council has appointed John M. Lefler, Jr. as its new executive director. He most recently served as COO of The Strategic Air Command & Aerospace Museum in Ashland.

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.

Biden and the CNBC talking heads continue to yammer incessantly about the definition of a recession. It reminds me of a situation that happened when my son was in high school. My wife was concerned about his nightly activities and told him that she was imposing an 11:00 curfew. About 2 o’clock in the morning she went into his bedroom and no one was there. Next morning, she confronted him and remined him of his 11:00 curfew. His response; “I was home at 11:00. You didn’t say I had to stay.”

The moral of the story is that you can play with the definitions all you want, but the only thing that matters is what Mr. Market thinks. Given how the market has responded to all of the latest news releases, I think Mr. Market is giggling and saying this is fun.

This week there was another plethora of earnings releases, the difference being that most of this week’s releases were much farther down the food chain in terms of their weight in the indexes. The S&P and NASDAQ are weighted by market cap which means that the FANG stocks – Facebook, Apple, Netflix and Google – dominate the movement of the indexes.

If you watch CNBC, it takes your eye off of the fact that what matters to the market is the big cap stocks. What Cramer and his minions are talking about is stock selection and picking the next big winner. The Gnomes suggest you revisit the time that Buffett brought Jack Bogle – the creator of the index fund- to the Berkshire Hathaway annual meeting in 2018. Buffett’s message to the Berkshire faithful was, “forget the needle, buy the haystack.”

For the past six weeks, the trading volume has been 10% to 20% below normal. The Wall Street Journal reported that trade volumes at Robin Hood and the other trading platforms frequented by 20 something’s stuck in their parents’ basement during the Covid shut-down have declined as much as 40%.

This week we have seen days where the market would start up in the morning, then decline after the lunch hour. The Gnomes think this is because the traders with the big New York banks are buying in the morning and selling in the afternoon. Why do you care? Because trying to make rational investment decisions in an irrational environment qualifies as craziness.

In the short term, our eyesight is 20/20. In the long term we are legally blind. The past few weeks we have seen off the chart intraday volitivity due to the media’s jibber jabber over rising interest rates, runaway inflation, sucky earnings from the big banks and tech companies, etc. In the meantime, Mr. Market snuck up on us. Since June 1st, the S&P has gained 9.6% and the Nasdaq 15.6%. Moral of the story, watch Cramer, bet on Mr. Market. The Gnomes are sure we may or may not be at the bottom, but give Mr. Market an encouraging 2.2 for the weeks ahead.

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.

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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