Weekly Market Report – February 15, 2024

The former Stokes Old Market location on the northeast corner of 12th & Howard Street is getting a new occupant. The Table Coffee Company, located just a couple doors to the east, is relocating into the much larger corner space. Table’s new location should be open in March.

Savin’s Sweet and Savory BBQ has opened at 1902 Galvin Road in Bellevue. The locally owned restaurant describes itself as “blue collar bbq.”

The Lazy Leopard cocktail bar opened this week in the former Coolgreens space at 3618 Farnam Street in the Blackstone District.

Also in the Blackstone District, signage has gone up for a second location of Cunningham’s Pub and Grill at 3814 Farnam Street inside the former Stirnella’s bay. The Blackstone location is expected to open soon, no later than St. Patrick’s Day. The existing location is in Old Mill.

It’s getting closer – Signage is now in place on Nebraska’s first Hawaiian Bros. Island Grill location under construction next to Tidal Wave carwash southwest of Interstate 80 & Highway 370. That means opening of the highly anticipated restaurant is just around the corner.

Total Wine has signed a lease for the former Bed Bath and Beyond space in The Shoppes at Aksarben southeast of 72nd & Pacific Street, according to The Lerner Company. It will be Total Wine’s first Nebraska or Iowa location. The Maryland-based company has 240 stores in 27 states. The closest existing stores are in Kansas City and Minneapolis.

Starbuck’s has opened a new location at 18414 Evans Street, which is on the southeast corner of West Maple Road & Big Elk Parkway.

Casey’s is getting close to opening a gas station-convenience store in Elkhorn at 204th & Wirt Street.

The Benson Brewery at 6059 Maple Street has reopened after a remodeling project.

Dollar Tree plans to open a discount store in a new retail strip on the southwest corner of 189th & West Maple Road. Immediately to the south, construction has started on a Goodwill store.

The Starbuck’s location at 222 South 15th Street in the north tower of the Central Park Plaza twin towers has closed permanently. We expect an announcement soon about plans to renovate both towers.

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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Review: At this Yelp top 100 spot, Mexican meets Asian for an interesting culinary mashup

By Sarah Baker Hansen

I don’t spend much time reading Yelp reviews — I like to go into most restaurants with as little knowledge as possible — but when I heard two Omaha restaurants had made the 2024 Yelp top 100, I’ll admit it. I started reading.

Corner Kitchen and its mouthwatering Instagram had been on my radar for a while, but I’d never made it to this little spot, tucked into the corner of an unassuming strip mall off 50th and F Streets. It turns out I’m not the only new visitor since that national list came out, owners Oscar and Maira Hernandez told me after I’d visited twice, once for dinner and a second time during their newer weekend brunch service.

The Hernandezes said they didn’t know the Yelp list was coming, and actually saw it on someone else’s Instagram post; then they received an email about their inclusion from Yelp shortly after that.

“We were shocked,” Maira said. “We had to read it like, three times.”

The couple went on Google and looked up the list to make sure it was real. It was.

“A lot of new people have been coming in the door, and we are so grateful for that,” Oscar said. “A lot of people are asking us how we started, and what we’re all about.”

Count me among those.

Corner Kitchen’s name is a bit misleading. It sounds like sort of a local diner, maybe a place that serves coffee and pancakes, or a greasy spoon.

But instead, Oscar Hernandez serves a sort of Mexican-Asian fusion inspired by his hometown of Mexico City mashed up with his love of Vietnamese, Chinese and Japanese cuisine.

On Yelp, they are well known for dishes like the elote tots — a street food twist on totchos — and tacos stuffed with fillings like Korean pork or Brussels sprouts.

The tacos were some of my favorite dishes we tried on our first visit, especially the surf and turf, stuffed with three medium-sized, nicely cooked shrimp and chunks of tender beef, along with raw and pickled onion and fresh chopped cilantro. The Brussels sprouts taco is singular, and I don’t think I’ve had one like it: tender, almost creamy sprouts tucked in a corn tortilla and topped with fresh greens. The Korean pork taco is one of the restaurant’s most popular, Oscar said, and I thought it had a good contrast, with tender pork and a creamy, spicy sauce, but our particular taco was quite salty.

Elote tots are hard to argue with, and I can see why they’re continually popular: a big pile of crisp tater tots comes topped with corn, a creamy chili-lime sauce and a heavy coating of finely crumbled elote. Here and there, I saw a bright green jalapeno or two, and I’d ask for more if I ordered them again. The spice cut through the richness of the dish, which would pair perfectly with a Modelo.

The one dish I probably wouldn’t order again was the dan dan noodles. I’ve had better versions elsewhere, and for me, this one read a bit too sticky in texture — we had to work to break the mass of noodles apart — and without the Sichuan spice I’m used to in the dish.

The Chilango burrito, named after a slang term used for Mexico City natives, is pure stoner food, if I do say so myself. An oversized tortilla is stuffed with beef barbacoa, longaniza, which is a variety of smoked sausage, bacon, sweet corn, rice, pico de gallo, beans, chile de arbol and salsa. It gave me a faint bacon cheeseburger vibe, with all the smoked meat flavors.

Another day, we went back to sample a couple of items on the restaurant’s brunch menu and had perhaps the best two things we tried: an excellent version of chilaquiles topped with tender birria and a chicken Milanese torta.

The torta, which Maira said is in regular rotation at their home for dinner (I immediately requested an invitation) is a Mexico City staple. It’s not on the menu, but was the special of the day when we visited. A super crispy, lightly breaded chicken cutlet gets topped with cheese, refried beans, guacamole, and pickled peppers, resulting in a crunchy, creamy and rich experience. It’s one of the best tortas I’ve had in Omaha.

I still think about the chilaquiles that chef Rene Orduna made at Dixie Quicks, and the verison at Corner Kitchen is not the same, but it’s worth trying.

Tender, savory birria came on top of chips still partially crisp even under both red and green sauces and a runny egg. As you eat, the flavor intensifies, and so does the spice. I liked it a lot.

The Hernandezes said they’re working on a second restaurant, a more full-service concept that’s more upscale. They plan to keep things going at the current location of Corner Kitchen, and will still do catering out of their food truck.

“Mexican food is more than just tacos,” Oscar said. “We want to keep the fusion but put our own twists on it here and there.”

I think many of us — Yelp fans or no — will be curious to see what comes next for this top 100 spot.

Corner Kitchen
https://www.facebook.com/cornerkitchenoma/
531-213-2489
4218 S. 50th St.

Hours:
Tuesday – Saturday: 11a – 9p
Sunday: 10a – 3p
Closed: Mon

Could the National Hockey League & USA Volleyball Be Coming to Nebraska? Actually, There Is a Chance

A bold vision for sports and entertainment in Nebraska will be on the discussion docket at a high-level meeting tomorrow morning. That’s when Rod Yates, owner of the Nebraska Crossing Shopping Mall in Gretna, will lead a delegation to New York City to meet with National Hockey League commissioner Gary Bettman.

Yes, there’s a chance the National Hockey League could be coming to Nebraska.

Yates and his business partners – including former New Orleans Saints quarterback Drew Brees as well as other current and former professional athletes – have big plans for a 2,000-acre “Good Life” mixed-use district around Nebraska Crossing, the popular retail venue at Interstate 80 & Highway 31. The $3.2 billion district could end up having 3,000 apartments and 1,000 hotel beds as well as recreation and youth sports facilities, entertainment attractions and an 18,000-seat arena.

But an NHL team is just one of the blockbuster plans for the district – Nebraska Crossing is poised to become the new headquarters for USA Olympic Volleyball.

It’s not a done deal yet, but it’s looking like Gretna could become the center of the volleyball world. In fact, University of Nebraska volleyball coach John Cook has helped in the efforts to lure USA Volleyball from its current home in Anaheim, Calif. to Nebraska Crossing.

“We’re in the final throes of negotiating our agreement with USA Volleyball,” Yates said. “We hope to be done within a month.”

If all goes according to plan, Yates would build a state-of-the-art facility for USA Volleyball, one that would be far superior to the current location in California. In addition to a major competition arena, Yates would provide a 218,000 sq. ft. complex that would include 78,000 sq. ft. of indoor practice space, 20,000 sq. ft. of indoor beach volleyball practice space, 30,000 sq. ft. for strength training/conditioning plus additional space for medical facilities, athletic training, a café and the organization’s headquarters office space.

Adjacent to the USA Volleyball facility, Yates and his team are planning to build Mammoth Field House, a 100,000 sq. ft. sports and recreation venue that would include pickleball, mini golf and a driving range similar to Top Golf (see rendering below). Additional plans call for a large youth sports complex that would attract travel teams from around the country.

Part of the requirement for USA Volleyball’s facility would be a 10,000-seat arena. During planning sessions, Yates and his team decided to go bigger than that – perhaps 18,000 seats. The whole purpose of the Good Life District Economic Development Act, passed by the Unicameral last year, is to create major retail and entertainment attractions that will draw out-of-state visitors.

“If we’re going to build a 10,000-seat arena, why not think bigger and go for an NHL team,” Yates said.

That led Yates to make a cold call to the NHL commissioner, and ultimately, tomorrow’s meeting in New York. But make no mistake, the NHL effort is not a lark; a great deal of thought has gone into this. Yates has commissioned an economic analysis, and the proposed hockey team already has a name: Nebraska Knight Owls.

Compared to many other NHL cities, Omaha is a small market. The Omaha combined metropolitan statistical area has 1.06 million people. The Lincoln metro is 340,000. Put the two together, and you have a market of 1.4 million.

That means the Omaha/Lincoln market is on par with Oklahoma City, and bigger than Louisville, Memphis, Richmond and Salt Lake City. The smallest current NHL market is Winnipeg with 835,000 people. The Omaha/Lincoln area is second only to Austin, Tex. as the largest market in the United States without a major-league professional sports team.

Earlier this month, the NHL commissioner publicly mentioned Omaha as a market that had expressed interest in an expansion team along with Atlanta, Cincinnati, Salt Lake City, Kansas City and Houston.

Given Omaha’s market size, some would say that landing an NHL team in Nebraska would be a long shot. Yates disagrees.

“We took a bottom-up approach, using data, to show why the NHL needs Nebraska,” he said. “It’s not just that we want a franchise; it’s that the NHL should want us.”

Yates and his partners hired Goss & Associates, headed by Creighton University professor Ernie Goss, to conduct an economic analysis of an NHL team in Nebraska. The study compared Omaha to the markets that might be interested in a team such as Atlanta, Oklahoma City and Salt Lake City. Here are some highlights:

1. An Omaha NHL franchise would generate net operating income of $33.1 million
2. Average attendance of 17,852
3. A franchise value of $1.2 billion.

These numbers lag projections for Atlanta but exceed those for Salt Lake City and Oklahoma City.

The former Dana College campus in Blair is getting new life. Lutheran Family Services is converting it into Dana Village, a $105 million project that will house young adults who have aged out of the foster care system. Phase I, which is now open, includes 61 apartments in a former college dorm building and a renovated gymnasium. Additional phases will occur over the next 10 years.

The City of Omaha recently unveiled early design plans for the North Saddle Creek Corridor, an area near Hamilton Street. The $4 million renovation project is called “The Saddle Creek Road Streetscape Project” and includes landscaping, improved traffic safety, lighting, benches and other amenities.

According to TruckInfo.net, the share of roads in Nebraska in acceptable condition has increased from 87.23 percent in 2000 to 92.9 percent in 2020. “This improvement may be attributable to the fact that Nebraska spends a larger portion of its annual budget on infrastructure than any other state.”

The Bellevue Library building at 2206 Longo Driveis is expected to hold a grand opening this fall, according to the Bellevue Times. Work started last June. The construction project involves both a renovation of existing space on the lower level of the Bellevue Professional Center building and an addition.

The MAHA Music Festival’s board of directors voted unanimously to cancel this year’s event, which had been scheduled for July at Heartland of America Park, according to News-Radio 1110 KFAB. Increased costs for talent, transportation, workers, security and insurance played a role in the cancellation decision.

U.S. News & World Report recently ranked Clarkson College in the top 100 Best Online Graduate Nursing Programs in the nation. The award marks the 13th year in a row that the Master of Science in Nursing program has earned the distinction. In addition, Clarkson College ranked 22nd in the online master’s in nursing degree programs for Veterans.

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Berkshire Hathaway offloaded about 30.4 million shares from its investment in Paramount Global, according to Fox Business. The fourth-quarter move, disclosed Wednesday, marked a 32 percent decrease from the approximately 93.7 million shares the conglomerate held at the end of the prior quarter ending Sept. 30. Berkshire’s stake in Paramount stood at over 63.3 million shares, the Wednesday filing said. It pegged their value at $936.5 million.

Forbes magazine has ranked Mutual of Omaha 24th on its prestigious list of America’s Best Large Employers for 2024. The Forbes ranking also recognizes the company as the top large employer based in Nebraska and the second highest-ranked large employer nationally in the insurance industry.

Green Plains Inc. announced financial results for the fourth quarter and full year 2023. Net income attributable to the company was $7.2 million, or $0.12 per diluted share for the fourth quarter compared to net loss attributable to the company of $38.6 million, or ($0.66) per diluted share, for the same period in 2022. Revenues for the quarter were $712.4 million compared with $914.0 million for the same period in the prior year. EBITDA was $44.7 million for the quarter compared to $5.7 million for the same period in 2022.

An affiliate of Omaha-based Tenaska has acquired six 21-megawatt natural gas generation facilities in Northeast Pennsylvania from IMG Energy Solutions.

Petsource by Scoular, a wholly owned and independently operated subsidiary of Omaha-based Scoular, has completed a $75 million expansion of its facility in Seward, Neb. The tripling of capacity added 70,000 sq. ft. of freeze-dried pet food ingredient manufacturing space. Freeze-dried products are among the fastest-growing pet food categories. The expansion created 75 new jobs, with more hiring planned. Petsource now employs more than 150 people, making it one of the 10 largest employers in Seward County.

For a sixth straight month, Creighton University’s Rural Mainstreet Index sank below growth neutral, according to the February survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. The region’s overall reading for February fell to 46.2 from 48.1 in January. The index ranges between 0 and 100, with a reading of 50.0 representing growth neutral.

U.S. retail sales fell a seasonally adjusted 0.8 percent in January from a month earlier, according to the Wall Street Journal. The larger-than-expected loss came after a strong round of holiday shopping in December.

Credit-card delinquencies increased 50 percent in the United States last year, according to The Hustle, and total consumer debt reached $17.5 trillion.

HDR’s grant and infrastructure finance professionals helped secure $1.6 billion in federal transportation discretionary grant funding for clients across the U.S. in 2023. While recent legislation such as the Infrastructure Investment and Jobs Act has created unprecedented levels of infrastructure funding, there remains a very competitive landscape for those seeking funding. Last year, the firm successfully assisted transportation clients in 31 states obtain discretionary funding for dozens of projects in the freight rail, aviation, public transit, highway and maritime sectors.

The grants awarded came from more than 15 federal programs and various agencies, and they support a wide range of transportation initiatives, including bridge replacements, major highway improvements, bus facilities, port rehabilitation and more. Since 2009, HDR-supported applications have captured $1 of every $9 awarded in the U.S. Department of Transportation discretionary grants program.

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LEADERSHIP & MANAGEMENT

Even constructive criticism can trigger a fight-or-flight reaction. That’s why it’s important to include examples, details and explanations, according to TeamBuilding.com. Create an environment where workers feel comfortable both giving and receiving feedback.

For the vast majority of today’s workers, AI won’t eliminate their job altogether, writes Jane Their in Fortune. The much more likely outcome: They’ll be replaced by another person—one who knows AI better than they do.

Business Travel – American Airlines is laying off 656 customer service employees, mostly workers who handle baggage and loyalty program questions, according to Business Travel News. American plans to launch a new consolidated “customer success” team designed to address a broader scope of customer issues. American will outsource some “lighter-touch” issues to international call centers.

The world has 28,420 centimillionaires, people with $100 million or more in investable assets, according to Fortune. Here are the five locations, in order, with the most of them: 1. New York; 2. San Francisco Bay area; 3. Los Angeles; 4. London; 5. Beijing.

SALES

In later stages of sales calls, confirm the customer is tracking with you, and then work hard to flesh out potential objections, says sales author Mike Weinberg. “The best time to uncover possible obstacles and objections is right now. It’s the challenges and objections which don’t get uncovered that come back to bite us later.”

To improve your closing ratio, become good at getting commitments and information from your prospect, says sales expert Alice Heiman. Typically, salespeople don’t think about getting the prospect to commit until the end. However, to close the sale, you need to gain commitments from your prospect at each step of the process.

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WISDOM

“My belief is stronger than your doubt.” – Dwayne Wade

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Did you know Boys Town became an official village of the state of Nebraska in 1936, electing its own government and operating its own post office?

Did you know that Creighton University enrolls more than 4,400 undergraduate and 4,300 graduate and professional students?

Did you know the AmericInn hotel just east of Westroads Mall was once a Hampton Inn and one of the first Hampton Inns to open in the nation?

This section is sponsored by Lockbox Storage, an affiliate of Omaha-based McGregor Interests Inc. We provide storage solutions for all of your storage needs. Our facilities have full-time managers and bright lighting to provide superior security for your belongings. In addition to space for rent, we also provide packing supplies, protection plans and locks along with complimentary handcarts and dollies. Visit LockBox Storage and let us help you with all your storage needs.

Winter Wine Walk on February 17th: Get ready for a cozy Winter Wine Walk at Midtown Crossing on Saturday, February 17, from 3 to 6 p.m.! Participating establishments are set to offer a delightful experience, featuring three exquisite wines at each spot, available in perfect 2.5 oz pours. Elevate your tasting journey with suggested food pairings that complement the rich flavors of each wine. Who knows, the small pours may encourage you to explore more or even all of the participating establishments. And here’s the twist – be sure to venture into at least three establishments for a chance to win an exciting gift card.

E-Commerce & Friends Meetup with Aaron Shaddy, CEO of Pet Friendly on February 22nd: E-Commerce & Friends Meetups bring together entrepreneurs, business owners and community members alike to mix, mingle and chat with experts in the e-commerce space. Join others on the fourth Thursday of every month to learn more about e-commerce and network with like-minded individuals! This month features Aaron Shaddy, CEO of Pet Friendly, who will be speaking about the journey of Pet Friendly, what Pet Friendly is, and how they’re making an impact in the e-commerce space!

2024 Omaha Boat Sports and Travel Show happening from February 22nd to 25th: Come on into the great outdoors! Check out some of the best campers, boats, outdoor activities and more. This event will feature multiple attractions for everyone in the family. From the Safari North Wildlife Park, Nebraska Game & Parks Archery Range and more!

Night Light: The Chemistry of Love happening on February 22nd & 29th: What is love? This February, Kiewit Lumunarium is getting to the heart of the matter and engaging all five senses in an exploration of the science of love. During Night Light on February 15, 22 and 29, they’ll dim the lights and get a little romantic with activities including a date night scavenger hunt for prizes, rose dissections and heart dissections. Don’t miss the Lover’s Lounge featuring one of the best views in the city, signature cocktails and much more!

Charcuterie Class on February 23rd: Best of Omaha winner Artisan Boards Of Omaha is excited to partner with Lauritzen Gardens for a charcuterie class. You will learn the basics of cheese selection, how to fold meat, make a meat rose and learn about the different variety of cheeses as well as fun tidbits about charcuterie. You will be guided step by step as you create your own board to take home and enjoy (one board per registration). You’ll leave with the knowledge and confidence to create and design boards on your own. A custom-designed board will be provided for everyone to sample from. Join others for a great adventure in the world of charcuterie!

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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Amy Swartwood has been promoted to Senior Vice President and Treasurer at Mutual of Omaha. She is a member of the Finance Executive Team reporting directly to the Chief Financial Officer. Swartwood has more than 20 years of finance and risk management experience. Before joining Mutual, she was employed in finance and risk management positions at both Security National Bank and Bank of the West.

Blue Cross and Blue Shield of Nebraska has named Keith Peifer as vice president of the senior market segment. Peifer previously served as Chief Medicare Officer at Horizon Blue Cross Blue Shield of New Jersey and served on the Board of Directors for Braven Health.

WoodmenLife has hired Dan Nash as Director, Application Services. He earned his bachelor’s in Business Administration from Midland Lutheran College, and his master’s in Information Technology Management from the University of Nebraska Omaha. Nash comes from Kiewit Corporation where he held multiple leadership positions, his final one being Sr. Business Technology Lead, Infrastructure Market.

Fraser Stryker PC LLO has added Amit Mukherjee to its litigation team. He focuses on white-collar defense, personal injury, medical malpractice, and other litigation matters.

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.

The topic for this edition of my incredibly insightful commentary is, “Every once in a while, a blind squirrel finds an acorn.”

The Wall Street Journal published the results of their annual survey of market forecasts. The winner of the 2023 contest is Belinda Romaine, an associate professor of economics at St. Mary’s University in San Antonio. She outperformed the creme de la creme of Wall Street and academia.

Last year, the S&P 500 rose 23.4 percent. Out of the 91 professionals included in the WSJ survey, she came the closest with an estimate of +21.8 percent. Thirty-seven of the elite professionals included in the WSJ panel predicted that the market would decline a minimum of 5 percent, several as much as 15 percent. These are the most experienced that Wall Street and academic have to offer, with the biggest and fastest computers known to mankind. To add insult to injury, most get paid more than the President of the United States to produce this witches’ brew. And to add more insult to injury, clints of Wall Street legacy firms and parents of students attending elite institutions, foot the bill.

In addition to all the scientific voodoo used by the financial professionals to reach their half-baked conclusions, the WSJ added some scientific voodoo of the own to determine the winner of their contest.

Just to show you how far they went to slice a grapefruit with a hand grenade, I will quote verbatim their arcane formula: “In order to determine the winner, we calculated the absolute difference between each forecast and the actual value for each indicator. Then for each indicator, those differences were standardized to produce z-scores, which measure how far a value is above or below the average and then factored in how widely dispersed the values are.”

Translation: Mr. Market doesn’t give a s***.

I hesitate to toot my own horn, but I have some experience in this genre. The Omaha World Herald used to do this kind of jibber-jabber and for three years in a row I was the winner. In order to produce these stellar results, I would say to myself, I don’t have a clue, let’s try 4.3 percent. Not very scientific but, but every once in a while, a blind squirrel finds an acorn.

To help put this whole slamazel into perspective for you, I can remember numerous occasions at Berkshire meetings when Buffett was asked to comment on market predictions. His response on every occasion was, “If you told me exactly where the market would be one year from now, it would have no impact on my decision making.”

Bottom line: Successful investors monitor Mr. Market’s moods and ignore Wall Street’s bloviating.

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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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