Weekly Market Report – August 15, 2024

Nicole Buntgen, Contributing Writer

Napoli’s, a new authentic Italian restaurant, is coming soon to Council Bluffs at 157 West Broadway in the former Lincoln’s Pub location. The restaurant will offer traditional family recipes, including seafood, chicken, and pasta, for lunch and dinner at reasonable prices. An opening date has yet to be announced. Napoli’s is not a franchise and is not affiliated with restaurants of the same name in Norfolk, Lincoln, or other Iowa locations.

Via Farina will open a second location this October in Regency Landing at 10730 Pacific Street in the corner bay next to Twisted Cork. Doubling the size of its current Little Italy location, the modern Italian restaurant will act as a production hub for both venues and will serve lunch, dinner, desserts and breads through an open-kitchen format. The concept will include a “pasta lab” where all pasta is made in-house behind a glass display, plus a cocktail bar and a “charcuterie island” with portions cut to order.

Meddys, a Mediterranean eatery and craft bar, plans to open its first Nebraska location inside the former Gunderson’s Jewelry store at Village Pointe shopping center. Kansas-based Meddys has nine existing locations all of them in the Wichita and Kansas City areas. The opening date is yet to be announced.

Hay Jay Coffee, a drive-thru coffee shop, will close its Midtown location at 1416 North Saddle Creek Road on August 18th. The business is moving to Bennington at 8001 North 157th Street Suite 101, where it will introduce an updated concept featuring a full coffee and café restaurant. An official opening date has yet to be announced.

The Dandy Lion, an upscale bar and lounge, opened last week in West Omaha at 15475 Ruggles Street Suite 108, near 156th and Maple and next to Porky Butts. The business renovated the former Retro Rewind space and opens daily at noon.

Cruizin Cones, a Gretna-based ice cream shop, has rebranded as Glazed N Raised, effective last week. The new name reflects the shop’s focus on creating high-quality donuts and enhancing the everyday donut experience. You can find the business online at its new Facebook page: facebook.com/GlazedNRaised.

Another Papa Johns is coming soon to the metro. The new location will open on October 21st at 15602 Whiting Circle Suite 110 in Bennington, near 156th & State Street. Papa Johns has five stores in Omaha, one in Ralston and one in Bellevue.

The Pen & Dagger, a new indie bookstore in La Vista, will open soon in the La Vista City Centre at 7861 Main Street, according to Lee & Associates. The business will offer a range of new and classic books across popular genres, with a focus on science fiction, fantasy and literary fiction. Soft opening is planned for mid-October, with a full opening later in the month.

Squishable has opened its first Nebraska or Iowa location inside Westroads Mall. The national-brand retailer sells toy merchandise meant to be squeezed and hugged. The company’s website says, “Over the last decade and a half, we have released millions of Squishables to their new homes in the wild.” The New York City-based retailer has 34 locations in 23 states.

MARCEL, a men’s formalwear store, plans to open in early September at Westroads Mall. The locally owned retailer will be located on the first floor between DSW and Journeys. The store’s tagline is “the flavor of elegance” and will offer “European style and couture.”

Sensory Suite Spot, Omaha’s first ability-inclusive hair salon, recently opened at 14216 Pierce Plaza just off 144th & Pacific Street in west Omaha. The salon suite caters to all abilities, with hair stylists specializing in sensory cuts. A ribbon cutting will take place on August 27th.

Taco Bell is testing a “nostalgic menu” at select locations in California, featuring five popular items from the 1960s to 2000s: the Tostada, Green Burrito, Meximelt, Beef Gordita Supreme, and Caramel Apple Empanada. If successful, the menu may launch nationwide this year, according to Nation’s Restaurant News. Taco Bell has more than 20 locations in the Greater Omaha area.

Correction – Last week, we reported that Board & Brush, a sip-and-paint woodworking studio, was opening its first Nebraska location. The address was wrong. The correct address is 6016 Maple Street.

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!

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‘Sauced by Alfaro:’ Could this be the Best Chicken Sandwich in Omaha?

Sauced came to be when chef Michelle “Chelle” Alfaro was looking to raise funds for her son to go on a mission trip. After exhausting all her fundraising options, she turned to salsa. And made $700 on her first day.

That eventually led to a discussion with Hy-Vee that landed her salsa on the shelves at 13 of their stores (and became my go-to salsa when it was offered). It also meant that she needed to find a commercial kitchen to meet the demand, which she found in Louisville, Neb. Alfaro started doing pop-up offerings with burgers, chicken sandwiches and wings. Eventually, Sauced by Alfaro launched on Cinco de Mayo 2021. She moved to downtown Papillion one year later.

“I knew I could make my sauces homemade, so we started off doing burgers, wings and chicken sandwiches and things like that when we first started in Louisville,” Alfaro said. “I really had to come up with what my niche was going to be. We did a lot of menu-changing in year one here in Papillion as we kind of fine-tuned what our establishment was going to be and chicken sandwiches were hands down the people’s favorite. So, we just stuck to what we were good at here.”

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Omaha Regional Transit Expansion

by Eric Miller

NOTE: The author is senior transit planner at Felsburg, Holt & Ullevig, a transportation engineering and planning company as well as Grow Omaha’s official transportation columnist.

Omaha turned a corner in terms of finally “getting real” with transit when it opened the Omaha Rapid Bus Transit (ORBT) on November 18, 2020. This service provides frequent and fast bus transit along the Dodge Street corridor between Westroads and downtown, replacing and streamlining the old Route 2. It did not take long for the ORBR to surpass the Route 2 ridership, even in a post-COVID environment.

So, what do I mean about “getting real” with transit? I mean a real investment in transit, making something more permanent, doing more than just running a basic bus route with stops denoted by a metal sign on a pole (and perhaps a concrete pad and bench or shelter). The ORBT project featured stops with platforms that included amenities usually only seen at rail transit stations, a dedicated fleet of buses, some exclusive lanes, and Transit Signal Priority. Transit projects like these make a real difference in our communities, cities, and region!

We need more transit projects (and the ensuing service that they provide) in Omaha so that we can provide better service, encourage more development, and get people excited about transit. This is one of the reasons why the current streetcar project is so important – it is a big deal for Omaha.

What are the next big deal transit corridor projects for the Omaha area and what should we look to work on next to complement our growing metropolitan area and the increased development? What will continue to grow our transit system, connect to other routes, make service easy and reliable for existing and new passengers, and increase ridership while making it simple for people to get around without relying on a car?

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Isaiah Ang, Contributing Writer

Woodhouse Auto Group plans to build two new dealerships at West Dodge Pointe. The Omaha Planning Board approved a major amendment to the West Dodge Pointe Mixed Use District Development Agreement allowing automotive sales on land southeast of Burt Street & Old Lincoln Highway across the street from Audi Omaha. The two dealership buildings total more than 45,000 sq. ft. and will have 113 parking stalls. The brands are Cadillac and Genesis. The latter is the premium line of automobiles from the Korean manufacturer, Hyundai.

What’s going on at 108th & Giles? Weeder Pediatric Dentistry is building a one-story, 4,325 sq. ft. dental office building at 10723 Hillcrest Plaza immediately west of an existing Children’s Physicians clinic.

Last week, the NU Board of Regents approved an interlocal agreement between UNMC and the City of Omaha regarding the Midtown Medical Center Bikeway Connection project. The dedicated bike trail will be built along Emile and Jones streets between 39th Street and Saddle Creek Road. A pedestrian bridge will be constructed over Saddle Creek Road connecting the trail to the Catalyst facility. Another bridge will be built over Leavenworth to better connect the campus to the Field Club Trail. The $15 million project will be funded by a combination of federal grants and local matches.

The River’s Edge development continues to take steps toward the anticipated construction of the adventure tower and other amenities on the Council Bluff’s riverfront. Most recently, Southwest Iowa Nonprofit for Collective Impact and the City of Council Bluffs were awarded a $4.9 million Destination Iowa Grant for the project. Construction is on hold until issuance of a permit from the U.S. Army Corp of Engineers. The city anticipates issuance of the permit by early September with construction following soon thereafter.

The $2.6 million Platte River pedestrian bridge opened in early August connecting Sarpy County and Cass County. The bridge runs adjacent to Highway 34/75 and connects Allied Road on the north side of the river near Falconwood Park to Beach Road on the south. The bridge trail is only pedestrian/bike crossing over the Platte River aside from the Lied Platte River Bridge nearly 16 miles west.

The Bellevue City Council is considering a rezoning application submitted by the Bellevue Housing Authority for a vacant lot southeast of 9th & Childs Road. The authority plans to build a 7-plex, consisting of six 3-bedroom units and one 2-bedroom unit. The project is not being built with low income tax credits but will be affordable housing targeted for families who make up to 80 percent of the area’s median income.

The City of Bellevue will engage MCL Construction as construction manager at risk for its Bellevue Bay waterpark project. Bellevue approved a $4.5 million contract with MCL, which has previous experience managing construction of similar facilities including the Salvation Army Kroc Center in South Omaha and the recently opened Gretna Crossing YMCA and Outdoor Aquatic Center. The project could be completed by April 2027. – Isaiah Ang

The Douglas Board of Commissioners has upheld a denial for ‘greenbelt’ designation of the Civic Square project. The developer submitted an application for the old Civic Auditorium parcels downtown and other parcels in the county to be considered a ‘greenbelt’ or agricultural land. Under state law, property tax valuations of such properties are assessed at 75 percent of market value. That application was denied by the County Assessor’s Office and the board upheld that decision. According to White Lotus, the parcels have or will have grasses grown on them for use as hay for cattle.

Regarding the Civic Square property, a representative of White Lotus clarified that they have every intention to develop the site pursuant to the agreement with the City. However, they are waiting for approval of final platting and do not have a definitive date for that approval. As such, they have not started any construction on the site.

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Redline Athletics will open its first Nebraska or Iowa location November 4th in Gretna, according franchise owner David Michaelis. Redline offers speed, agility and strength training for 8-to-18-year-olds customized for every sport. The facility is located at 178th & Highway 370 and will have two batting cages plus a pitching machine. The Scottsdale, Arizona-based company has locations in 23 states. The closest exiting one is in Kansas City.

Berkshire Hathaway filed its latest holdings snapshot with the Securities and Exchange Commission yesterday, revealing a massive reduction in its Apple stake, along with a complete exit from its nearly $1 billion position in Snowflake, a cloud-based data company that has become one of the top publicly traded stocks for the red-hot AI sector, according to Fortune.

Mead Lumber, an Omaha-based building materials company with 53 locations in nine states, is unifying its national brand under one name. As part of that effort, Thomae Lumber in Billings and Laurel, Montana, is changing its name to Mead Lumber effective this week. Mead acquired Thomae Lumber company in 2007.

Scoular and SEADLING have formed an exclusive agreement to offer North American pet food manufacturers a first-of-its-kind ingredient to improve pet health: fermented dried seaweed powder. Omaha-based Scoular is a leading domestic supplier of pet food ingredients. SEADLING is a Borneo-based company that produces the powder using proprietary technology.

NP Dodge Real Estate Agent Services has moved its office from 8701 West Dodge Road to 8601 West Dodge Road, Suite 120. NP Dodge Real Estate is the longest-running real estate company in the United States with more than 450 agents serving the Omaha metro area.

Werner Enterprises, Inc. declared a regular quarterly cash dividend of $0.14 per common share. This dividend will be paid on October 23rd to stockholders of record at the close of business on October 7, 2024. Werner Enterprises has paid a quarterly cash dividend to its stockholders every quarter since July 1987.

One Liberty Properties, Inc., of Great Neck, N.Y., has agreed to purchase a 236,324 sq. ft. warehouse building in Council Bluffs for $28.3 million, according to GlobeSt, a real estate media company. The building was constructed in 2023 and sits on 23 acres near the I-29/I-80 interchange just three miles from downtown Omaha. Features include concrete tilt walls, 32-foot clear-height ceilings and 27 dock doors.

For a 12th straight month, Creighton University’s Rural Mainstreet Index fell below growth neutral, according to the August survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. The region’s overall reading for August sank to 40.9 from 41.3 in July. It was the lowest reading since November of last year. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.

Collectively, Americans now owe a record $1.14 trillion on their credit cards, according to a new report from the Federal Reserve Bank of New York. CNBC reports that credit card balances rose by $27 billion in the second quarter of 2024, a 5.8 percent jump from a year ago.

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LEADERSHIP & MANAGEMENT

One mistake professionals make when climbing the corporate ladder is placing too much stock in their reporting line, sometimes to the detriment of their career growth, says Jane Edison Stevenson of Korn Ferry in Fortune. Many aspiring executives mistakenly view their rise to the C-suite as a linear upward trajectory and, as a result, are too focused on reporting lines and labels.

What are the top concerns of corporate board-of-directors members? According to Charter Works, here are the top five: 1. Navigating economic bumpiness; 2. Employee productivity; 3. Employee retention; 4. Artificial intelligence; 5. Employee training and professional development.

A study published in the Journal of Hospitality Marketing & Management found that describing a product as using AI lowers a customer’s intention to buy it, according to CNN. Researchers sampled participants across various age groups and showed them the same products – the only difference between them: one was described as “high tech” and the other as using AI, or artificial intelligence.

One of the biggest mistakes a traveler can make is not buying travel medical insurance, according to Business Insider. Most travel insurance policies offer at least $15,000 or $25,000 in coverage for emergency medical expenses that can apply overseas, but you can also find policies with much higher limits for medical coverage.

SALES

There are countless negotiating mistakes a sales pro can make. Here are just a few you should tr to avoid, according to sales expert Kelley Robertson: 1. Believing price is the primary motivation behind buying decisions; 2. Not asking enough questions; 3. Failing to establish value; 4. Talking too much; 5. Offering a discount to close the deal.

CRMs can boost sales by 29 percent and productivity by 34 percent, according to SalesForce

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WISDOM

“Never wrestle with a pig. You get dirty, and besides, the pig likes it.” – George Bernard Shaw

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Did you know Conagra has a food production facility in Council Bluffs, that employs 800 people, making frozen meals for brands such as Healthy Choice, Marie Callender’s, Birds Eye and Banquet?

Did you know Did you know that in 2023, Lee G. Simmons Wildlife Safari Park had 15,000 members?

Did you know the University of Nebraska Medical Center is planning to build a $2.19 billion, 1.27 million sq. ft. hospital that would have 556 beds? Located at Farnam Street & Saddle Creek Road, it would be between 380 and 400 feet tall, making it the fourth tallest building in the city.

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Outlook Enrichment’s Bags and Brews Cornhole Fundraiser

Join Outlook Enrichment on August 18th for their first-ever Bags & Brews Cornhole Fundraising Tournament at Heavy Brewing. With a $50 team registration, participants can enjoy drinks, friendly competition and support programs for individuals with vision loss. All skill levels are welcome, making it a perfect day of fun for a great cause.

Summer Leadership Ethics Lunch

The Business Ethics Alliance event on August 22nd will explore the topic of Authentic Relationships in an Inauthentic/Digital World. Speakers include Dr. Rebecca Murdock, Vice President and Dean of the College of Business at Bellevue University; Chantel Windeshausen, Vice President of Marketing at Centris Federal Credit Union; and Erin Owen, President of Clarity Channels Communication. The panel will discuss the challenges businesses face in maintaining genuine connections with clients as tech innovations become more commonly implemented.

The Collective for Hope Announces New Anticipatory Grief Support Program

The Collective for Hope (TCFH) is expanding its grief support services with the addition of the new Anticipatory Grief Support Group beginning this September. This program is intended for parents and caregivers caring for a terminally ill child. TCFH believes in providing free-of-charge, competent grief and survivorship support to all, regardless of age, and that the Omaha community is made more compassionate, stronger, and resilient as the result of their offerings.

Child Saving Institute Receives $130,000 in Grants from United Way

The Child Saving Institute (CSI) has been awarded $130,000 in grants from United Way of the Midlands. These funds will support CSI’s programs, including the School & Family Enrichment (SAFE), KidSquad, Teen & Young Parent Program (TYPP), and Emergency Shelter. For 132 years, CSI has been meeting the changing needs of metro area children as they “Champion what’s best for each child and family.”

EPIC for Girls Awards $271,899 in Grants to Empower Girls of Color in Sports

EPIC for Girls has awarded $271,899 in grants to 22 sports organizations committed to empowering girls of color in 2024. Since its founding in 2017, EPIC for Girls has issued 86 grants totaling over $1.24 million to nonprofits and OPS high schools, supporting efforts to increase sports participation among underrepresented populations. EPIC is committed to leveling the playing field so that every girl can access the life skills and confidence sports offer.

SHARE Omaha Releases Five-Year Generosity Report

SHARE Omaha‘s newly released Five Year Generosity Report highlights key trends in local volunteerism and giving. The report reveals that 67 percent of volunteers are female, nearly 80 percent of all volunteers are over 45, and the value of a volunteer hour is $33.49. There’s also a growing demand for group volunteer opportunities as more companies offer Volunteer Time Off (VTO) in employee benefit packages.

Millwork Moves: Yoga in The Prairie happening every Thursday through August 29th: Free, community Yoga in the Prairie at Millwork Commons. Taught by a certified yoga instructor from Lotus House. Simply bring a mat, a water bottle, and show up to enjoy flowing movement with the community. This event is free and open to the public. Free parking can be found in the Mastercraft Parking Lot.

Market in the Park on August 17th: Experience a delightful summer day at Omaha’s Market in the Park sponsored by Where There’s a Wheel, There’s a Way podcast! Set in the heart of Midtown Crossing, scenic Turner Park offers the perfect setting for a day of shopping and enjoyment. Explore the lively atmosphere of one of Omaha’s most beloved public parks, and discover locally made treasures, from artisanal goods to stylish, curated apparel and unique handcrafted gifts. Take a leisurely stroll among the vendors, soak in the fresh outdoors and indulge in the beauty of the park! This event is free, open to the public, family friendly and pet friendly!

Chalk Art Festival on August 17th & 18th: Get ready to immerse yourself in a world of vibrant colors and stunning creativity! Join Midtown Crossing for the 6th Annual Chalk Art Festival sponsored by Metronet, where local artists and enthusiasts alike will transform the sidewalks into beautiful works of art. This family-friendly event is not to be missed – come for the art. Stay for the food and enjoy a fun-filled day!

The Power of Purpose with BC Clark | Elevator Essentials on August 21st: Discover the power of purpose-driven leadership! Join Elevator on Wednesday, August 21st for an inspiring session where you’ll learn how to identify your personal “why,” leverage your strengths and build strategies that align with your core purpose. This event will equip you with the tools to communicate effectively, lead with clarity and drive meaningful impact in your career and beyond.

Omaha Business Hall of Fame on August 21st: Initiated in 1993 as part of the Greater Omaha Chamber’s centennial anniversary, the Omaha Business Hall of Fame recognizes Omaha-area business luminaries for their incredible legacy and commitment to their business, industry and community. Honorees are inducted into the Omaha Business Hall of Fame at a brilliant gala that supports the next generation of Omaha professionals. This event will begin with Hors d’oeuvres and Cocktails at 6 p.m. The Induction Ceremony will begin at 7:30 p.m., followed by a dessert reception. Get your tickets now!

Founder/Employee Equity with Husch Blackwell on August 22nd: Early stage startup founders and new employees often have tons of questions around equity and shares. Gabriel Riekhof specializes in working with tech startups and other businesses through Husch Blackwell, a nationwide law firm with a deep understanding of specific industries, including tech startups. Gabriel will be discussing and answering questions on a variety of common equity questions like how to approach co-founder equity, option pools for employees, how to structure equity and vesting schedules, and what are standard amounts. Join Scale Omaha if you’re interested in startups and curious about how to approach equity at a startup!

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College of Saint Mary has named Jackie Wilson as dean of students and Title IX coordinator. She began her duties July 15 and is responsible for student development, retention, success and community life. She was previously with Cornell College in Mount Vernon, Iowa.

The Schlessinger MD practice has added Dr. Daniel Schlessinger, a board-certified dermatologist as well as Mohs surgeon and cosmetic surgeon. He is the son of the practice’s founder, Dr. Joel Schlessinger. Born and raised in Omaha, the younger Schlessinger did his medical education in Boston, Chicago and St. Louis, serving as chief resident at Washington University in St. Louis.

Ehrhart Griffin & Associates has promoted professional engineer Mike Holton to civil engineering department manager. A graduate of the University of Nebraska-Lincoln, Holton has been with the firm since 2015.

City of Omaha Public Works director Bob Stubbe has resigned as a member of the Omaha Streetcar Authority. His resignation follows the board’s resolution to delegate the management of current and future contracts for design and construction of the streetcar system to the public works director, creating a conflict of interest.

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.

In the middle of the stock market’s recent silliness, sits a 900-pound gorilla. A 900-pound gorilla everyone sees, and everyone pretends does not exist. That 900-pound gorilla is the High-Speed Traders, or in Wall Street jargon, HST. An HST is a private company whose business is to program ginormous computers to find price anomalies among the various electronic exchanges. We don’t know a lot of details of their finances, but we know they are profitable, because if they were losing money they would go into politics.

On an average day, there are around 7 billion trades, and the best guesstimate is that about 80 percent of those trades are made by HSTs. Even if this guesstimate is off by a ton, there is enough HST activity out there to get our attention.

The HST’s magic sauce is the trading orders their computers execute. Mere mortals, like you and I, have a limited number of ways we can initiate a trade. We can sell or buy at the going price or we can sell or buy at a specify price. But the HFTs have added about 15 wrinkles to the above, all of which require computers of massive size and speed.

Let me get out my atomic stopwatch and give an example of how the HST’s alchemy works. HST #1 sends out an order to buy 100 shares of XYZ, if an only if, it can sell it at a higher price on another exchange in less than a nano second.

This higher price can be as little as a fraction of a cent. At precisely the same instant, HST #2 sends out an order that is the mirror image of HST’s Order. They offer to sell 100 shares of XYZ, if and only if, they can immediately buy it at a lower piece on another exchange. HST #1 and HST #2 orders hit the same exchange at just the right moment, and both orders get filled. Then repeat, repeat, repeat. And within a hundredth of a nano second, both HST’s have made a profit. They both start the day owning nothing and ended the day owning nothing.

Now the really big question is, What’s the impact of HST’s on share prices? The correct and only answer is: NOBODY KNOWS! Could be up. Could be down. The one thing we can state with certainty is that their impact is random and unpredictable.

However, the unintended consequence of the HST’s activity is like a cue ball. Their action can shock the momentum traders into action, which gets the options guys going, which activates the algorithm traders, and on, and on, ad infinitum.

So, is all lost? Is the stock market just one big roll of the dice by a bunch of Wall Street snake-oil salesmen? NOT! Mr. Market is a firm believer and advocate of the great economic engine.

This section is brought to you by All Makes and Allsteel. For more than a century, All Makes has remained family-owned and committed to supplying businesses with workplace solutions, specifically furniture and technology. To learn more, visit one of our showrooms in Omaha, Lincoln, Des Moines, Columbus, Kearney, or North Platte.

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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.

Support the Grow “O” Mission

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