Weekly Market Report: February 27, 2025

Feb 27, 2025

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Grow Omaha is proud to deliver this market report to you each week. This would not be possible without the support of our sponsor, Quantum Fiber!

Restaurant & Retail Updates

Nicole Buntgen, Contributing Writer

Delicoffee Bakery Las Chilenas has opened at 8064 South 84th Street at Brentwood Square in La Vista. The grand opening celebration will take place March 8th. The locally owned business specializes in baked desserts, coffee, Chilean empanadas, homemade bread, Dobladitas and other delicacies.

Meddys will open its first Nebraska location on March 16 at 17255 Davenport Street in the former Gunderson’s Jewelry space at Village Pointe. The Kansas-based, fast-casual, Mediterranean restaurant opened in 2014 and is known for its hummus, shawarmas and platters.

The Grove Juicery & Wellness Café has opened its third location inside the Inner Rail Food Hall at Aksarben Village. The local juice bar also operates at 2401 Farnam Street downtown and 18101 Chicago Street in west Omaha.

Dairy Chef, the locally owned ice cream and burger shop at 3223 North 204th Street, plans to open for the 2025 season on Tuesday, March 11 at 11 a.m.

Isla del Mar Restaurante will soon hold a grand opening for its third location at 7902 Towne Center Parkway in Papillion. The Mexican seafood and sushi restaurant is currently open for training with limited seating. It also operates locations at 5101 South 36th Street and 2502 South 133rd Plaza.

The Witchery Barber is opening a second location in the Blackstone Plaza building at 3555 Farnam Street. That 15-story building recently welcomed HomeGrown, a brunch restaurant. The new location will be called The Witchery at Blackstone and will open in March. The original Witchery is located at 2941 South 108th Street. The shops are part of Omaha Barber Group and include Dundee Barber and Victory Barber.

Cheeseburgers has closed its location inside Blue Sky Patio & Pickleball at 10730 Pacific Street. The local burger joint plans to open a new location, though the address has not been announced. Its Blackstone District location at 4007 Farnam Street will remain open. The news follows Noli’s recent departure from Regency Landing.

After five years in operation, Mahalo Poke Co. will close its Aksarben store at 6920 Pacific Street on February 28. The local restaurant’s menu features a blend of Hawaiian poke dishes with Korean influences.

The Omaha Bakery has closed at 725 North 210th Street in the Elkhorn area.

The Walgreen’s store at 24th & L Street in South Omaha has closed permanently.

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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

Grow Omaha Eats with
Chris Corey

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Dante Omaha restaurant lit building signs at night

Dante is Strictly Authentic Neapolitan Pizza, Perfect Pasta and a Dedication to Italian Wine

Dante chef and owner Nick Strawhecker grew up in Omaha and discovered a passion for cuisine during a four-year stay in London while his father worked abroad for First Data Resources.

“We’d go to Belgium or the Netherlands for the weekend, spend weeks at a time in Italy,” Strawhecker said. “That experience in Europe is what piqued my interest in restaurants and food.”

Strawhecker’s first job was at Baker’s in Omaha while in high school. He moved on to Pizza Hut and a couple other restaurants before graduating and attending culinary school at Johnson and Wales in Providence, R.I. From there, he went to Flagstaff, Ariz. for hotel and restaurant management. He did this while also working at other restaurants in the area. After that, he attended another culinary program in the Chianti region of Italy.

“I’m a lucky person that I kind of knew what I wanted to do at a young age,” Strawhecker said. “So I hit the ground running with my career.”

In 2008, Strawhecker moved back to Omaha to open Dante.

“That was at the beginning of the Neapolitan pizza trend that really happened on the coasts in the mid-2000’s,” Strawhecker said. “There was no Neapolitan pizza really in the Midwest so we were kind of cutting-edge in Omaha. The idea was just pizza and Italian wine and some other simple dishes. We quickly expanded from that.”

Let’s talk about the pizza at Dante for a moment. Two of the most important aspects of a pizza are crust and sauce. In my own pizza making journey, there’s a particular pizza I aspired to match. This crust comes from a pizzeria in South Seattle called Pizzeria Pulcinell. The minute I tried that pizza, I knew I had to up my own pizza game. I’ve yet to find a pizzeria this side of New York City that has come as close to Pizzeria Pulcinella as Dante has.

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The Big Story

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Image of a building being built and tower crane in Downtown Omaha
The $600 million Mutual of Omaha headquarters tower downtown is one of many development projects that likely would not have happened without the availability of Tax Increment Financing.

Independent Review Validates Omaha’s Tax Increment Financing Program

An independent review of the City of Omaha’s Tax Increment Financing (TIF) program concluded that the city is compliant with state law. The review was completed by Forvis Mazars, an outside CPA and advisory firm.

The City hired Forvis Mazars following State Auditor Mike Foley’s September 2024 letter to the Nebraska Legislature on the use of TIF in Nebraska, and the suggestion from then-Senator Mike McDonnell that the City of Omaha should pause its use of TIF. The report provided no justification for pausing TIF, an effective economic development tool.

The city’s use of TIF has become an issue in the current mayoral race, which is now heating up. The primary is April 1st. The top two finishers will then compete in the general election on May 13th. McDonnell is one of several candidates challenging incumbent Jean Stothert.

Despite the campaign rhetoric, all indications are that TIF is being used properly and is boosting the city’s economic growth and development.

Forvis Mazars reviewed the city’s TIF program and processes for approving development projects, verifying of financing and affording opportunities for public input and information as required by the state’s Community Development Law.

As part of the study, Forvis Mazars randomly selected for review five TIF redevelopment projects approved in 2022 or 2023 including:

Aksarben Keys (2022) 64th & Center
Blackstone East (2022) 37th & Farnam
Mutual of Omaha headquarters (2022) 15th & Farnam
Digs Apartments Mason (2023) 3066 Mason
Square Apartments (2023) 30th & Leavenworth

The study reviewed the cost-benefit analysis for each project, the process for declaration of blighted or extremely blighted areas and publication on the city website.

The review also confirmed that the city submitted complete and on-time annual reports to the State of Nebraska Property Tax Administrator, the Omaha City Council, Douglas County and other affected taxing entities.

Forvis Mazar selected eight projects paid off between 2021 and 2023 and found all of them were in compliance.

Forvis Mazars did find two minor administrative findings in the study, both of which have been rectified by the city.

City finance director Steve Curtiss said the report shows that Omaha uses TIF appropriately for economic growth. “TIF does not put the city or taxpayers at risk,” he said.

Planning director Dave Fanslau said the city has a “well-vetted process that ensures only projects that qualify are approved.”

Since 2015, Omaha has approved 196 TIF applications for a total value of $548 million, resulting in $4.6 billion in new investment. Fanslau said his department disqualifies many TIF inquiries/proposals before they even reach the planning board.

In 2023, the Omaha City Council approved 23 projects for TIF financing. Six previous TIF loans were paid off.

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Grow Omaha Snippets

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Isaiah Ang, Contributing Writer

Noddle Companies plans to build a 31-acre, mixed-use project at Gretna Landing, northwest of 192nd & Highway 370. The development will be anchored by a 130,000 sq. ft. office building and is expected to break ground in the third quarter of 2025. Additionally, it will include flexible space designed for services, as well as retail, food and beverage space, plus a 170-unit housing development.

More than 150 lane miles of Omaha streets will be resurfaced or replaced this year as part of Omaha’s Street Preservation Fund. The program started when voters approved a $200 bond issue in 2020. The 2025 program has a total of 41 projects including 21 major street resurfacing projects, 10 residential project areas comprised of numerous multi-block sections of road, eight reconstruction or concrete-repair projects and two brick-street repair projects. The total estimated cost is $28.6 million.

A 612-unit apartment complex is planned for the Avenue One development near 192 & West Dodge Road. The Omaha City Council is reviewing an amendment to the mixed-use development agreement to allow the multifamily project. Specifically located at 188th & Harney Street, the 18-acre site will have several apartment buildings, including a 120,000 sq. ft. building for seniors. The other five buildings will range from 9,000 to 20,000 sq. ft.

The Omaha Sports Commission this week announced Omaha as the newest host for the USA Crit national cycling race to be held in the Aksarben area on May 17. To be known as the “Aksarben Tirc,” this national event will be free to the public. It will attract more than 500 athletes and 3,000 people. The Tirc is a criterium, or “crit,” which are short-loop bike races on a closed road. The Omaha Sports Commission will own the event and plans to hold it annually as a signature event for the community.

Hawkins Construction quickly demolished and removed the Harney Street bridge over Interstate 480 last weekend. The bridge will be completely rebuilt to accommodate the streetcar project. Because of its advanced age, it was slated for replacement in the coming years even without the streetcar project. Completion is scheduled for late this year. The exact same thing will happen next year on the Farnam Street bridge one block to the north.

The University of Nebraska Medical Center has been designated an R1 institution by Carnegie, a classification that places it among the top research and doctoral-degree universities in the country. The Research Activity 1 designation, which officially begins in April, is the highest classification for an educational institution from the Institutions of Higher Learning by Carnegie. UNMC is one of only 187 universities in the country to receive the designation in 2025. It is based on research activity and number of research doctorates granted.

The Omaha City Council is reviewing the Tax Increment Financing loan agreement for a multi-family development at 4209 and 4215 Ellison Avenue. The total project cost is $5,15 million with TIF helping fund $859,437. The development will consist of three 4-unit and one 2-unit rowhouse-style buildings. The for-sale units will be 3-bedroom and 2-bathroom rowhouses.

Council Bluffs continues to move forward on a major development project on the northeast side of Lake Manawa. The city has been working on subdividing and developing plans to create 500 to 600 new housing units. This week, the city council approved an agreement with the Iowa Economic Development Authority for a $6,87 million award to help pay for infrastructure, construction of new homes and provide down payment assistance, up to $35,000 per buyer.

In addition to the IEDA award, the project will be funded by a local match of nearly $9 million, which is sourced from CDBG Entitlement funds, an EDI-CPF grant and the city’s own Housing Development Program. The major infrastructure project will be a connector between Mohawk Road to the west and East Manawa Drive to the east. Last Fall, the city approved plans for Phase 1 of the development from local developer Turn the Paige Homes to build 40 single-family houses. All units will be sold to households at or below 80 percent of the median income for a $175,000.00 sales price.

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Business News

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Berkshire Hathaway reported fourth-quarter 2024 earnings. The Warren Buffett-led conglomerate said its operating profit — which encompasses earnings from the company’s wholly owned businesses — skyrocketed 71 percent to $14.527 billion, according to CNBC. That was led by a 302 percent jump in insurance underwriting from the year-earlier period to $3.409 billion. Insurance investment income also ballooned by nearly 50 percent to $4.088 billion. Operating earnings popped 27% for the full year, coming in at $47.437 billion.

Wholly Restored & Refreshed has opened inside Modern Work Suites at 8790 F Street. The wellness business provides Vibroacustic therapy beds sessions, Biomat therapy beds and Halo (salt) therapy. Sessions are by appointment only.

FiberFirst is the Greater Omaha Chamber’s February Business of the Month. The company is an internet service provider that so far serves Arizona and Omaha. FiberFirst was created by Ubiquity, an infrastructure company that builds fiber networks. Ubiquity lays the groundwork, and FiberFirst markets and sells internet services.

Valmont Industries reported fourth quarter and full-year 2024 results. Fourth quarter net sales increased 2.1 percent to $1.04 billion compared to the final quarter of 2023. For all of 2024, net sales decreased 2.4 percent to $4.08 billion compared to $4.17 billion in 2023.

Bankers Trust is holding a ribbon cutting and grand opening celebration March 5th for its new office at 19202 Davenport Street. The office provides a full suite of financial service products for consumer banking, including checking, savings, and loans along with private banking, wealth management, commercial banking and treasury services.

Little Waves Family Swim School closed its facility at 17602 Wright Street February 20. The locally owned, indoor, swim school opened in November 2012 and said it does not anticipate reopening or relocating.

The more advanced your degree, the longer it takes to find a job. That makes sense, because highly educated people have higher expectations from the job market. According to The Hustle, workers with advanced degrees find themselves jobless for a median of 18 weeks, more than four times longer than it took just two years ago.

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Grow Omaha Sports

Image of Omaha Professional Volleyball

Cole Young, Contributing Writer

UNO Baseball traveled to third-ranked LSU last weekend for a three-game series against the Tigers. The Mavericks lost game one on Friday 4-2 then split the double header on Saturday, winning game one 5-4 and losing game two 12-1. The upset over the Tigers Saturday made history as LSU is the highest ranked opponent UNO Baseball has ever played.

Luke Gainer, the relieving pitcher in UNO’s win Saturday threw 2.1 perfect innings of relief, good enough to earn him Summit League Peak Pitcher of the Week. He took over after former Millard North right-hander Ben Weber threw 3.2 scoreless innings to start the game.

Creighton and Nebraska Volleyball were among 10 teams selected to this year’s AVCA First Serve. The event, in its second year, marks the kickoff of the College Volleyball season and is back after a successful debut featuring perennial powers Kentucky, Nebraska, Louisville and Wisconsin. Six games will be held at Pinnacle Bank Arena August 22-24 followed by two games August 25 at the Sanford Pentagon in Sioux Falls, S.D. Nebraska will face Pitt Friday and Stanford Sunday while Creighton will take on defending national champions Penn State. The event is not in tournament format and will hold standalone games.

Omaha North’s Tyson Terry won his fourth-consecutive wrestling state title on Saturday, capping a perfect 169-0 career. He becomes the first-ever heavyweight to win four state championships. The future Nebraska defensive lineman wrestled on a torn ACL that he suffered this past football season and will have surgery next week to repair it.

UNO Basketball is guaranteed at least a share of the Summit League regular season title for the first time in school history. After defeating South Dakota 93-85 Saturday, and second-place St. Thomas’ loss to Oral Roberts, the Mavericks locked up at least a share of the conference title. They can clinch the regular season title outright by defeating Oral Roberts Saturday at Baxter Arena.

A state-of-the-art, 4,000 sq. ft., indoor golf facility for Creighton Men’s and Women’s Golf opened on Sunday. The McGraw Family Indoor Golf Facility boasts brand-new simulators, putting and chipping greens and lounges. Team locker rooms and coaches’ offices will also be housed at the facility located on campus inside the Kiewit Fitness Center.

After losing two starters to the NBA, Creighton has beaten every Big East opponent at least once this season. This marks the second year in a row they’ve accomplished this and their fifth time since joining the conference.

Upcoming Games
• Omaha Supernovas vs. Orlando Valkyries | Thursday, February 27 | 7:00 p.m.
• LOVB Omaha vs. LOVB Madison | Friday, February 28 | 7:00 p.m.
• UNO Hockey vs. #12 Arizona State | Friday, February 28 & Saturday, March 1 | 7:00 p.m. both nights
• UNO Basketball vs. Oral Roberts | Saturday, March 1 | 1:00 p.m.
• Creighton Basketball at Xavier | Saturday, March 1 | 3:30 p.m.
• LOVB Omaha vs. LOVB Atlanta | Saturday, March 1 | 4:30 p.m.

Grow Omaha University

Leadership & Sales Insights for Ambitious People

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

Sponsored by Dundee Bank

LEADERSHIP & MANAGEMENT

High levels of trust have been proven to reduce employee turnover, according to Fast Company: “When managers are trustworthy, workers tend to be more loyal, engaged in their jobs and productive. Employees who perceive their managers as trustworthy report higher job satisfaction and are more willing to exert extra effort.”

You can have robust processes and set solid expectations, but if you don’t hold your people accountable, you won’t see real progress in your team, according to business author Anthony Iannarino. Celebrating successes and discussing failures with your team will help you solidify strong behaviors and weed out poor performance

The world’s rapidly declining birth rate does not bode well for the future. According to The New Yorker, things aren’t likely to get better anytime soon – In South Korea, which has the lowest fertility rate in the world, dog strollers outsold baby strollers last year.

Telephobia, the fear or anxiety around making and receiving telephone calls, is afflicting Gen Zers. A recent survey showed that 61 percent of 18-to-34-year-olds in the U.K. prefer to receive a message rather than an audio call. According to CNBC, a quarter of them never pick up the phone.

SALES

According to sales author Jeb Blount, here are the five most important questions a prospect would ask themselves about you: 1. Do I like you? 2. Do you listen to me? 3. Do you make me feel important? 4. Do you understand me and my problems? 5. Do I trust and believe you?

Sixty-three percent of sales leaders believe that virtual meetings are just as or more effective than in-person meetings, according to HubSpot.

Let’s say you recently hit a sales wall and you’re feeling frustrated. What can you do? Here are three positive steps, according to sales author Mark Hunter, you can take right now: 1. Contact existing customers to see if there are new opportunities; 2. Give referrals (because it may cause someone to return the favor); 3. Contact old customers you haven’t talked with in a while.

WISDOM

“What the wise man does in the beginning, the fool does in the end.” – Proverb of unknown origin

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Did You Know?

Surprising Facts, Figures & Points of Pride That Make Omaha Unique

This section is sponsored by Lockbox Storage.

Did you know that cybersecurity employment in Omaha grew by 5.8 percent from 2022 to 2023?

Did you know that Omaha’s office-to-apartment conversion pipeline is the 16th biggest in the United States in 2025 with 1,294 converted apartment units under development?

Did you know that Omaha’s Henry Doorly Zoo and Aquarium is once again under consideration for USA Today’s 10Best recognition for Best Zoo, Best Zoo Exhibit and Best Zoo membership?

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Upcoming Events in the Metro

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Mardi Gras Friendship Mixer happening on February 28th: Join others for Smitten Singles Happy Hour, a relaxed and welcoming event open to all ages and backgrounds! This Mardi Gras-themed gathering is open-house style, so stop by any time after work. Bring your own mask, or grab one from our stash, and enjoy a fun, festive evening. Come mingle, connect and celebrate in true Mardi Gras spirit!

2025 Omaha Home & Garden Expo happening February 28th – March 2nd: The 2025 Show will give homeowners the opportunity to see one of the finest Home & Garden presentations in the Midwest. Whether looking for ways to remodel their homes, decorate, build a new one or explore creative landscaping, show visitors will find millions of ideas with more than 150,000 sq. ft of displays. See more than you can ever imagine from kitchens and baths to beautifully designed landscapes including ideas for the do-it-yourselfer, interior decorating trends, contractor services, solar, energy-saving products, garage storage, shelving, flooring, patio furniture, lawn and garden equipment, room additions, replacement/new windows, doors, siding, roofing, fireplaces, outdoor living and much more with over 600 hundred displays all under one roof!

Mardi Gras at The Moon happening on March 4th: Celebrate Mardi Gras 2025 at Crescent Moon on Tuesday, March 4th, with delicious Cajun food, New Orleans-inspired cocktails and plenty of beads! Indulge in classics like gumbo, jambalaya, Cajun wings, fried okra and bread pudding, with more to be announced. Sip on festive drink specials, including Hurricane Buckets, Abita Bock, and Southern Voodoo, available all day. No cover—just good food, great drinks and a lively Mardi Gras celebration!

Small Biz, Big Protection: Insurance Made Simple happening on March 4th: Small business owners, are you prepared for unexpected risks? Join Elevator Omaha for a Lunch-and-Learn with Matt Boulay and Zach Dettmer from Gallagher as they share expert insights on essential insurance coverage for your business. Learn how to manage risk, avoid costly surprises and choose the best policies to protect your financial future. Gallagher, a global leader in insurance and risk management, will provide practical strategies to help your business thrive with confidence!

ROI of Why 2025 happening on March 5th & 6th: ROI of Why 2025 isn’t just any conference. It’s a gathering of the most driven and forward-thinking minds, all with a shared purpose to create abundance and transformation through business. Following the immense success of previous conferences hosted by The Do More Good® Movement, ROI of Why 2025 is set to take the conversation to the next level. Join the conversations, community and insights…Get your ticket today!

Do you have an event you want Vesta to publicize? Share them with us here for free!

This section is sponsored by Eagle Mortgage, a locally owned, full-service mortgage company helping you with Conventional, VA, FHA and USDA loans in both Nebraska and Iowa. Learn how Eagle Mortgage helps people afford the home of their dreams by clicking HERE!

People in the News

Sponsored by The Greater Omaha Chamber

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digital rendering of Flatiron District project buildings

WoodmenLife has hired Mitch Jackson as director, total rewards. In his new role, he oversees corporate-wide benefits and compensation programs. He comes to WoodmenLife from Lindsay Corporation, where he most recently served as director, compensation & benefits.

Metonic Real Estate Solutions has promoted Jamie Harvey to marketing manager. Harvey has a Journalism Media Communications degree from the University of Nebraska at Omaha and has been with the company working on the company’s media presence and investor communication.

Lamson Dugan and Murray LLP has elected Brian Brislen as a member of the firm’s management committee. He joins Omaha partners Patrick Vipond and Cathy Trent-Vilim as well as West Des Moines, Iowa partner Rick Harris.

In Memoriam – Kennard “Ken” Pohlman, founder of Omaha-based Midwest Laboratories, died January 19th at age 84. He led the company for several decades before turning leadership over to his son, Brent Pohlman, the current CEO. Midwest Laboratories serves the agriculture/environmental, animal health and human health industries.

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.

Wall Street: The Week in Review

Commentary by George Morgan

Views and opinions expressed herein are solely those of the author.

He is the founder of Morgan Investor Education of Omaha.

As I go about my daily monitoring of the financial media, I get flummoxed by their egregious use of the word “investor.” It’s not uncommon for Kramer, et al, to begin the day, opining that “investors are elated/horrified that the Fed might raise/lower interest rates.”

Then at 2:00, they discover that Mr. Market has not performed as they had predicted, so they change their narrative to the fact that investors are elated/horrified about the possibility that Trump will impose ginormous tariffs on imports from every country on the planet.

All of this begs the question – which is also the iconic line from Hollywood’s most perfect movie – “Who are those guys?”

We can begin our quest to determine who “those guys” are by eliminating who they are not. In the 1970’s, the government created the IRA and 401(k) programs with the intention of eliminating company sponsored pension plans. Today, 73 percent of all the workers have access to a 401(k) plan, equating 130 million people.

Over the course of the past 45 years, many 401(k) participants have reached retirement age and rolled their 401(k) assets into IRAs. Close to 100 percent of these retirement account balances are in mutual funds and are held at the three major discount brokerage firms. According to the U.S. Department of Labor, the total self-directed retirement account market equates to 160 million people and $36 trillion.

Now back to the original question: Who are these guys? During an average market day, somewhere between 7 and 9 billion shares are traded. This presents a conundrum. First, how could humans place that many trades? And second, if there are that many humans out there with their fingers on the enter button, how could Kramer talk to enough of them in order to determine their collective mind set?

On an average day 80 percent of the market trades are conducted between two computers that are programed to buy/sell on one exchange and then within a nano second buy/sell on another exchange for a profit. Less than 1 percent of the total trade volume comes from the discount brokerage firms where mom and pop keep their money.

AH HA! We have found those “GUYS”. They are ginormous server farms located in New Jersey, a scant two miles from the market’s primary computer located at 11 Wall Street.

Bottom Line: There are a bunch of really big companies with really big computers whose mission is to drive the market upward. If you own an index fund at a discount broker, you can join the ride for free.

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Have You Watched Grow O on Video Yet?

Jeff Beals, Trenton Magid and a guest in the KFAB 1110 Radio Booth

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

Don’t keep this newsletter to yourself. Forward it to your friends, clients and co-workers. You want to know the real reason we produce this report? It’s to remind Omahans about the vibrant, prosperous and growing city they call home. The more Omaha residents believe in their city, the more successful we’ll all be. Spread the news!

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