Weekly Market Report – January 18, 2024

Jan 18, 2024 | 0 comments

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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

Frosty Mug Sports Bar is scheduled to open for business this coming Monday (January 22nd) at 2611 North 204th Street next door to the recently opened Time to Rise & Shine breakfast restaurant. Both businesses are creations of Javier Trujillo, who also owns Javi’s Tacos.

Helados Locos, has opened in a former Weight Watchers space in Lakeside Hills at 173rd & West Center Road. A brand-new ice cream concept (also from the owner of Javi’s Tacos), Helados Locos brings traditional Hispanic desserts to west Omaha. All the ice cream is locally sourced from Tipico Helado in South Omaha.

The Hilton Omaha Hotel at 10th & Cass Street downtown plans to open a new in-house restaurant in March. The menu is being designed by Chef Marvin Woods, who has worked in London and across the United States. He is a three-time published cookbook author and four-year host of an Emmy nominated show on Turner Networks.

Vincenzo’s Ristorante at 15701 Pacific Street is becoming an employee-owned company. After 30 years of running the restaurant, owners Mike Frank and Bill Whitley are retiring. Vincenzo’s has another location in Lincoln.

Beem Light Sauna Omaha plans to open in March at 2501 South 90th Street in the Loveland Centre. The business will offer light therapy treatment including infrared, red light and chromotherapy. The North Carolina-based company has 22 locations open or planning to open soon. Most are on the East Coast.

Regency Fitness Club has opened at 10730 Pacific Street inside the Regency Landing development near Interstate 680. The 4,500 sq. ft. private fitness club has 24/7 secured access and personal training courses available.

Hy-Vee Fast & Fresh has opened a stand-alone convenience store and gas station southwest of 204th & West Center Road.

VASA Fitness opened its first Nebraska club this past Saturday inside a former Shopko store at 144th & West Center Road. VASA has 56 locations in nine states and plans to open additional locations in Nebraska and Iowa.

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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
Sarah Baker Hansen

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Review: At Salted Edge, the popular bread board is just the beginning of the tasty, chef-driven menu

By Sarah Baker Hansen

Chef Joel Hassanali had absolutely no clue that the Salted Edge’s bread board was going to become the new Waterloo restaurant’s unlikely calling card.

Hassanali, the chef and partner in the business, along with owners Ashley and Gregg Young, all knew that they wanted bread on the menu in some fashion, but Hassanali said he had something well beyond the typical bread basket with pats of butter in mind.

“I wanted to take it to a different level,” he said.

Like several of the dishes we tried during two recent visits to Salted Edge, which is near 243rd & West Dodge Road, in a new development overlooking West Shores Lake, the bread board is a good example of how Hassanali has indeed taken not just that dish, but several others, in an unusual, flavorful and creative direction.

Pair that creativity with a kitchen that executes a wide variety of dishes on all levels, a solid list of creative cocktails and a well-composed wine list, and this critic isn’t surprised at all that Salted Edge has been such a hit since it opened in October.

Back to that bread. Hassanali said he’d done a bread board when he was a chef in New York that included a variety of breads sweet and savory, instead of just one, and it had been mildly popular. He revisited that idea for Omaha, but he pumped it up: four sweet and savory breads, but this time, paired with salts and compound butters.

“I had no idea it would take off the way it did,” he said.

It has — in fact, I’ve been asked over and over since the restaurant’s opening whether or not I had tried this bread board yet. I have. And I can say: it is indeed quite good.

A cayenne parmesan popover with a crisp, airy crunch and a custard-like center was my favorite, paired with sundried tomato butter and jalapeno salt. It’s warm and just spicy enough. Herb butter buns with a flaky, buttery brioche finish are paired with a smoky butter and chunky Maldon sea salt. Hassanali said the most time is spent on those buns, between the chopping of several herbs and the rising process of the dough.

The cornbread comes topped with a whipped goat cheese so thin it resembles frosting on a cinnamon bun, all of it topped with kernels of fire roasted corn and a drizzle of local Fathead honey. A sweet orange rosemary biscuit paired with a crunchy maple bourbon pecan butter and a hint of smoked salt is balanced and citrusy.

I know it’s a lot of words to spend on bread, but trust me, it deserves them.

Inside, Salted Edge is decorated in hues of navy blue and black, with a variety of seating and an open concept kitchen. I found the space comfortable and welcoming, and the service friendly and attentive, if a little heavy handed with description and suggestions one evening.

The menu at Salted Edge is big, including steaks, sandwiches, pasta, salad, a chilled seafood bar, a variety of shared sides and even pizza. In that long list, a handful of dishes stand out, in particular, the dishes inspired by Hassanali’s background — he is from Trinidad, and grew up in the Caribbean where his parents ran a restaurant.

The locally raised Plum Creek chicken is listed on the menu as “chef spiced,” and that’s because Hassanali uses his own spice blend, which starts with palm sugar and includes a dozen more ingredients, including cumin and curry. It’s warm and rich, and the high-quality half chicken comes served with herb roasted potatoes, a parsnip puree placed in dollops on the plate, grilled asparagus and a wild mushroom demi glaze.

The Vadouvan roasted cauliflower, on the shared sides menu, is a dish Hassanali described as “from my heart,” and is inspired by recipes he learned from his parents. Vadouvan spice, also known as “French curry,” has warming notes of cardamom and cloves, and Hassanali sets those notes off with brown butter, honey, mustard seeds, golden raisins, pickled shallots and a pistachio gremolata, adding crunch, sweetness and pleasant texture.

Two appetizers stood out: Asian-inspired blistered shishito peppers topped with the pleasant combination of yuzu miso dressing, furikake and bonito flakes; and crispy shrimp deviled eggs, a study in creamy and crunchy.

The shishito peppers, grilled to a pleasant char, are savory, salty and tough to quit eating. The deviled eggs have a super creamy, cool center topped with a hot and crispy fried shrimp, the creamy-crisp combination set off by a spicy pickled jalapeno and a savory smoked tomato bacon jam.

The shrimp cocktail, part of the chilled seafood bar offerings, describes the seafood as “colossal” and the five we received were fresh, oversized and meaty, served with a lemongrass cocktail sauce topped with fresh grated horseradish and a creamy green goddess dressing.

I tried a few bites of my niece’s bison bolognese one evening — made with both bison meat and dry aged wagyu — all the beef is dry aged in house — and house made pappardelle pasta, it’s appropriate for both grown-ups and sophisticated 11-year-olds alike. (There is also a full kids’ menu available.)

I tried one of the short list of pizzas, topped with broccoli, sausage and torn burrata cheese. It’s fine, with a thin crust, crispy edge and plenty of toppings.

But with so many other more inspired dishes, I probably won’t order it again.

Another night, we tried both the steak frites and the signature burger.

That burger, again made with dry aged beef, delivered on every level, and immediately reminded me of the savory, delicious burger at the now-closed Dario’s, in Dundee.

Cooked to a perfect, pink-centered medium rare, as ordered, the burger comes topped with black pepper bacon, melted gruyere, a roasted garlic aioli and a red wine onion marmalade and a handful of fresh arugula. It sounds like a lot of toppings, and it is, but it comes together nicely, with subtle spice, a hint of sweet and plenty of pepper.

The steak frites includes a Niman Ranch 14-ounce New York strip — mine cooked to perfection and well seasoned — along with a side of truffle bearnaise sauce, horseradish breadcrumbs and a bruleed half tomato with a crisp top and creamy center. Salted Edge’s French fries are fantastic, uber crispy, super hot and coated in Parmesan and Herbs.

Our group of four managed to sample several cocktails: a smoked old fashioned with hints of brown sugar and cardamom; a sidecar flavored with seasonal inspired cranberry and mulling spices; a “nieux” carre, a twist on the classic vieux carre made with pear brandy and molasses simple syrup; and a smooth espresso martini made with tequila and tawny port. While we didn’t dive into the wine list beyond the list of glasses, the selection is nice, and the staff is good at suggesting possible pairings with food.

Hassanali said his goal is for Salted Edge to be modern and contemporary but also to include a taste of his own past — where he’s from, places he has worked and traveled and chefs he’s worked with (Emeril Lagasse is on that list, by the way.)

When he moved back to Omaha in 2020 — he lived here in 2014 and 2015, working at Crave in Midtown Crossing — he quickly realized that much had changed.

“I wanted to bring out west what a lot of people go downtown for,” he said. “I knew the clients were going to know food and be willing to spend money for that great experience around food, wine, atmosphere. That was the goal.”

Salted Edge is creating an experience on the edge of the city I think many would travel for. Omaha is growing up and out, and its food scene, particularly when it comes to chef driven, locally owned restaurants, is expanding beyond where it’s been before, too.

Salted Edge

https://www.salted-edge.com/

110 South 243rd Street, Waterloo

(402) 625-3343

Hours:
Tue – Thur:
4p – 10p
Fri & Sat: 4p – 11p
Sun: 4p – 8p
Closed: Mon
Tuesday through Friday the bar opens at 4 p.m. and the kitchen opens at 5 p.m. On Friday and Saturday, the kitchen opens at 4 p.m.

Grow Omaha Eats with Sarah Baker Hansen is sponsored by Cheer Athletics, one of the largest and most respected All-Star cheerleading programs in the United States. The Omaha location is at 14620 Gold Coast Road, near Highway 370 and 144th Street. Learn more HERE!

The Big Story

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Above: Omaha Airport Authority

Omaha Airport Authority Announces Nearly $1 Billion Terminal Upgrade at Eppley

The Omaha Airport Authority yesterday announced the approval of plans for significant terminal upgrade at Eppley Airport. The $950 million Build OMA Terminal Modernization Program will enable long-term growth at Eppley, nearly doubling the size of the terminal and adding amenities to enhance the travel experience.

“For more than a decade, the Omaha Airport Authority has been building a long-term approach for improving and expanding our terminal and passenger facilities,” said Eric Butler, Board Chair of the Omaha Airport Authority. “With increasing passenger traffic in Omaha, we developed the Build OMA Terminal Modernization Program, as part of our demand-based master plan to position and enhance Eppley Airfield for decades to come.”

Passenger traffic demand has been on the rise in Omaha. In 2023, Eppley saw its second busiest year in airport history with more than 5 million total passengers travelling through the airport, exceeding 2019 pre-pandemic activity levels and marking a full recovery from the impacts of the pandemic. Passenger counts in 2023 were also 11 percent higher than 2022.

“Passengers will find a more streamlined experience, with ticketing adjacent to the TSA checkpoint and a single concourse design for a more intuitive traveler flow. The additional space, amenities, and passenger processing systems will benefit business and leisure travelers flying into and out of our airport,” said Dave Roth, Chief Executive Officer of the Omaha Airport Authority.

As part of the Build OMA plan, the Omaha Airport Authority has entered into a contract with Holder Construction for the terminal expansion and renovation work. This contract is inclusive of a new central utility plant announced in July 2023 and already underway to address central heating, cooling and energy needs.

When completed, the Eppley terminal will feature multiple enhancements, including:

  • An increase to approximately 646,000 sq. ft. from the existing 375,000 sq. ft.
  • A single, unified concourse with a centralized Transportation Security
  • Administration security screening checkpoint
  • An increase to 22 arrival/departure gates from the current 20, with the ability to add further gates for future growth
  • Larger gate boarding areas
  • Two gates capable of international flights and a new Customs and Border
  • Protection international arrivals hall for international passenger processing
  • Expanded restaurants and retail concessions beyond the security checkpoint
  • Enhanced vertical circulation for passengers including new elevators and additional escalators
  • New airline ticketing space
  • New automated inline baggage handling system
  • Expanded baggage claim area
  • New and expanded restrooms including companion care and family restrooms, nursing rooms and a new service animal relief area
  • Enhancements focused on accessibility throughout the terminal.

Current construction of the central utility plant serves as an initial phase of the Build OMA program. Expansion and renovation of the terminal will occur in phases to permit ongoing airport operations over multiple years with work scheduled to be completed in 2028.

An additional Build OMA construction project is also already underway. The $65 million Terminal Drive & Canopy Project will provide an additional passenger drop-off lane, expand the ADA accessibility of the passenger pick-up and drop-off areas and provide cover from weather elements. The Terminal Drive & Canopy Project is contacted with Hawkins Construction and scheduled to be complete by Spring 2025.

The Omaha Airport Authority is a non-taxing authority and collects user fees to support the operation, maintenance, and development of airport facilities. No local tax funds are used for airport development or operations. Funding will come from airport revenues, federal grants, and future airport bonds.

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Grow Omaha Snippets

Grow Omaha Snippets Sponsored by:

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The fate of a proposed $1 billion, 4,000-acre lake along the Platte River west of Gretna should be known by this summer, according to Nebraska Examiner. Two studies are underway to determine the feasibility of the lake. One study is assessing how the lake might affect drinking-water wellfields. The other study is assessing how likely the local philanthropic community and private developers are to support the project.

Steel just started going vertical at the construction site of Omaha’s future Central Public Library near at 72nd & Dodge Street. The $150 million, 96,000 sq. ft. building is expected to open in 2026.

Cox Contracting, Inc. has begun the process of demolishing the Spencer Homes East public housing project at 26th & Spencer Street, according to the Omaha World-Herald. The six apartment buildings have been vacant since June of 2022 as a part of a federal grant-backed redevelopment of the Spencer Homes public housing complex and its neighborhood.

Southwest Airlines launched its new nonstop flight between Omaha and Fort Lauderdale, Fla. this past Saturday. The non-stop operates seasonally on Saturdays. Fort Lauderdale is the 13th nonstop destination Southwest serves out of Omaha. Eppley now has a total of 31 nonstop destinations.

UNMC’s Center for Heart and Vascular Research recently was awarded more than $11.8 million by the National Institutes of Health to create a Centers of Biomedical Research Excellence focused on finding answers for heart and vascular diseases.

Burlington Capital, in conjunction with the City of Bellevue, plans to develop Prairie Hill Farm, a $600 million, 45-acre “collaboration campus” northeast of Highways 75 and 34, according to Nebraska Examiner. Anchoring the campus would be a 6-story, 200,000 sq. ft. uber-secure facility occupied by researchers, startups, private industry and defense contractors — some working on top-secret projects.

The development is intended to make Nebraska a leader in the cybersecurity industry and support StratCom’s Nuclear Command, Control and Communications mission. Offutt Air Force Base is located only minutes away. Funding for the project would come form private development, philanthropists and public sources. That state of Nebraska has already committed $20 million. The development team is seeking an additional $130 million from the state.

Grow Omaha Snippets are brought to you by Omaha Car Care with four metro area locations – 131st & Dodge, 58th & Center, 85th & L and 144th & Harrison.

Omaha Car Care “We’ll be along for the ride.”

Business News

Local Business News Sponsored by FranNet of The Heartland:

The Farnam Hotel at 1299 Farnam Street downtown was named Marriott’s 2023 Autograph Hotel of The Year. Marriott Autograph has 198 hotels worldwide.

Pursuant to the terms of a settlement agreement reached with Pilot Corporation of Knoxville, Tenn., Berkshire Hathaway Inc. of Omaha has acquired Pilot Corporation’s remaining 20 percent interest in Pilot Travel Centers LLC. Berkshire Hathaway now owns 100 percent of Pilot Travel Centers.

AEF Academy will hold a ribbon cutting January 31st at 4 p.m. for its new basketball training and development facility at 9226 South 99th Circle in Papillion. That’s just off Portal Road. AEF teaches three fundamental values to become an impact player both on and off the court: Attitude, Effort and Focus.

A federal judge has ordered Omaha-based Werner Enterprises to pay a deaf driver $300,000 plus $35,682 in lost wages to settle a disability discrimination lawsuit, according to Nebraska Examiner. The case had been filed by the U.S. Equal Employment Opportunity Commission on behalf of Victor Robinson, who had applied for a job with Werner in 2016, but was rejected.

A residential cigar room owned by Omahan Jay Lerner, president of The Lerner Company, was featured this month in a Cigar Aficianado magazine article. Lerner’s 800 sq. ft. “Grand Havana Room” was finished in 2021 and is inside a free-standing building resembling a miniaturized version of the main residence.

The Kum & Go brand, which has multiple locations in the Omaha metro, will disappear by 2025, according to CSP Daily News. The Iowa-based convenience store chain of nearly 400 locations was purchased by Utah-based Maverick last year. Prior to the acquisition, Maverick had 404 stores.

Oak Investment Real Estate facilitated the sale of the Blondo Plaza Apartments at 8002 Blondo Street on December 29th for $2,805,000. The 34,944 sq. ft. building was constructed in 1965 and has 47 units.

For a fifth straight month, Creighton University’s Rural Mainstreet Index was below growth neutral, according to the January survey of bank CEOs in rural areas of a 10-state region dependent on agriculture and/or energy. The overall reading for January rose to 48.1 from 41.7 in December. A score of 50.0 represents growth neutral.

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!”

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

The difference between success and struggle is the choices you make about your time, says business author Anthony Iannarino: “Show me your choices, and I’ll show you your results. Show me your calendar, and I will identify your priorities.

Large companies are becoming less enamored with the Chief Marketing Officer position. According to Fortune, 71 percent of the Fortune 500 has a marketing chief, down from 74 percent in 2009. Only about 10 percent of Fortune 250 CEOs have marketing experience, and just 4 percent have previously held a CMO role. In contrast, over 70 percent of Fortune 100 CEOs have operations or finance backgrounds. Only 41 of Fortune 1000 companies have a marketer on their board.

In 2023, remote workers received promotions 31 percent less frequently than their in-office counterparts, according to The Hustle. Ninety percent of CEOs said they are more likely to favor employees who come into the office when doling out raises and promotions.

Rich countries in the northern hemisphere represent just 21 percent of the world’s population, but they hold 69 percent of global wealth and are home to 74 percent of the world’s billionaire wealth, according to Oxfam research reported by Forbes. By the way, the wealthiest 1 percent of people own 43 percent of all global financial assets.

Baby boomers dominate America’s housing market. They own nearly $19 trillion worth of U.S. real estate, according to Business Insider. That’s more than double the amount owned my Millennials and about $5 trillion more than Gen Xers.

Sixty-three percent of Americans surprisingly rate their current financial situation as being “good,” including 19 percent who say it’s “very good,” according to Axios Vibes survey by The Harris Poll. Seventy-seven percent of Americans are happy with where they’re living — including renters, who have seen their housing costs surge over the last few years and are far more likely than homeowners to describe their financial situation as “poor.”

SALES

When a prospect rejects you rudely, it’s easy to dwell on it. Perhaps you feel embarrassed, angry or even revengeful. Sales expert Jeb Blount recommends you put the rejection in perspective: “Behind my desk is an old index card taped to the wall. On the card are four letters: NEXT.”

Traditional prospecting and selling methods still work well, says sales author Mike Weinberg. Make the phone your friend and get comfortable proactively pursuing prospects. Nothing works faster or better to secure an early-stage discovery meeting. When prospecting, you’re looking for meetings, “because you’re not cold calling the phone book; you are pursuing a strategically selected ideal profile target account.”

In a study of 433 companies, only 7 percent responded within five minutes of receiving a customer form submission, according to Spotio. More than 50 percent didn’t respond within five business days.

BradBird gives you an edge when competing for customers. There are 40 modules, each a different topic. Modules include a video and matching workbook. It’s only $79 per month and group discounts are available. You can cancel at any time. If you’re an action-taker, click HERE and get started now!

WISDOM

“Good judgment comes from experience. Experience comes from bad judgment.” – Mark Twain

Founded in 2006 right in the heart of Omaha’s Dundee community, Dundee Bank is all about local ownership, friendly customer service, and supporting the needs of our beloved community. With nearly 100% of your deposits going right back into our neighborhoods, Dundee Bank is committed to fueling growth, enabling loans, and fostering stability for you and your neighbors. So why not open an account at Dundee Bank and discover what it means to truly support local?

https://www.dundeebanking.com/

Did You Know?

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

This section is sponsored by Lockbox Storage.

Did you know that Omaha-based Union Pacific Railroad has 7,338 locomotives, 33,179 employees, 33,000 railroad crossings and 16,700 bridges?

Did you know that Omaha’s Henry Doorly Zoo & Aquarium’s Amphibian Conservation Area released over 12,500 amphibians into the wild? From Puerto Rico to Wyoming, the program has released more than 130,000 amphibians since 2005.

Did you know that the 9-story building under construction at 37th & Farnam Street in the Blackstone District will have retail space, apartments and a city-operated parking garage within it?

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.

Upcoming Events in the Metro

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Free Coworking Day at Elevator on January 22nd: Mark your calendar for a monthly occurrence at Elevator Co-Warehousing! Each month they’ll be hosting a free coworking day filled with good vibes, hot coffee and plenty of space. You’ll be surrounded by their lively community of go-getters and trailblazers! Upon arrival, make sure to ring the doorbell and let them know you’re there for the free coworking day.

Millwork Conversations Presented by Google | Karen Borchert on January 23rd: Millwork Conversations is an engaging happy hour event, bringing together local creators, innovators, artists and leaders to discuss new ideas and possibilities, pushing past real and imagined boundaries. Each month, it offers attendees an inspiring and memorable experience through thought-provoking conversations. The January session features Karen Borchert, founder and CEO of Alpaca, who has developed a platform to support teachers through parent subscriptions. Alpaca, having begun as a pilot in local schools, now assists over 3,000 teachers monthly with supply packs, expanding its unique model nationwide. Join others in listening to Karen Borchert as well as networking with like-minded people in the community!

Candlelight: A Tribute to Queen & More on January 24th: Experience the enchantment of a Candlelight concert, a tribute to Queen and other legendary artists in the mesmerizing ambiance of Omaha’s Rose Theater, all under the soft illumination of candles. This live, multi-sensory musical event promises to elevate the magic of iconic hits like “Bohemian Rhapsody,” “Somebody to Love,” “We Are the Champions” and more. Immerse yourself in the elegance and allure of this unique concert experience, where the timeless music of Queen is brought to life in a setting like never before. Secure your tickets now for an evening of melody and candlelit charm at The Rose Theater.

7 Weeks Women With ADHD Group Coaching Program beginning January 25th: This seven-week program is designed to help women with ADHD or similar symptoms improve their daily lives, addressing challenges like time management, organization, distractibility and emotional regulation. It offers tools and skills to manage ADHD symptoms effectively in everyday activities, catering specifically to women. The program aims to build a supportive community among women with ADHD, focusing on acceptance, mindset shift, goal achievement, habit formation and fostering connections and friendships. Spots are limited so register today!

Boutique Warehouse Sale on January 26th-28th and February 2nd-4th: Join this exclusive warehouse sale showcasing a variety of local boutiques! The event features more than 20 local retailers offering massive discounts as they clear out stock to welcome new seasonal items. This special event happens only twice a year, where you can find incredible deals with prices ranging from just $5 to $25. Bring along a friend and take this chance to support your community’s boutiques!

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

Eagle Mortgage can help you realize your dream of owning a home.

People in the News

Sponsored by Baird Holm Attorneys at Law

a beautiful blue and white house with a green lawn
digital rendering of Flatiron District project buildings

NP Dodge Real Estate has welcomed new residential sales associates including Erik Taylor, Ngun Hup and Tim King.

Werner Enterprises, Inc. has named Nathan J. Meisgeier as president. He will continue to hold the position of Chief Legal Officer and will report to Derek Leathers, the company’s chairman and CEO. Meisgeier, 50, joined Werner in 2005 most recently serving as executive vice president and Chief Legal Officer. He graduated cum laude from Harvard Law School and holds degrees in Accounting and Economics from the University of Nebraska.

Security National Bank has appointed Jarryd Israel as executive vice president and Chief Credit Officer. He joined the bank two years ago and holds a law degree from the University of Nebraska and a bachelor’s degree from the University of Kansas.

Omaha-Council Bluffs Metropolitan Area Planning Agency has promoted Owen Stuckey to GIS coordinator. He brings extensive drone, GIS and mapping skills to the role.

Bankers Trust has promoted Scott Leighton to senior vice president and senior commercial and industrial relationship manager in its Omaha office. Bankers Trust is the largest privately held bank in Iowa and has been in business for more than 105 years.

The Hillcrest Foundation for Enhancing Lives has named Cheri Mastny as executive director. The not-for-profit organization strives to provide meaningful gifts to support older adults. Mastny was previously executive director of Omaha’s Dreamweaver Foundation.

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.

Wall Street: The Week in Review

with George Morgan

Morgan is the founder of Morgan Investor Education of Omaha.

Sponsored by Baird Holm Attorneys at Law

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

It is with a heavy heart and deep regret that I inform you that the Wall Street Journal has reported that value investing has entered hospice care. While it may have shown some brief signs of life in the last quarter, its longer-term prognosis is bleak.

The WSJ featured an interview with Charlie Munger, just a few months before his passing. The theme of the article was that Munger was one of the founding fathers of an investment paradigm that has passed its prime. Charlie acknowledged that there were technological and regulatory changes to the financial services industry that had diminished the effectiveness of the value approach. To quote him: “Going forward, those who adhere to the value approach must be willing to accept a lower rate of return.”

Value investing is a concept everybody understands, until they are asked to explain it. The Warren and Charlie show introduced the concept to the investing public and were responsible for defining its rules of engagement. To its followers it has become cult-like. If you are a value investing acolyte, you are as pure as the driven snow. Those who choose to do otherwise, hold positions on the social ladder two rungs below hookers and whores.

The ideological foundation of value investing goes back to Buffett’s time sitting at the knee of Ben Graham. It became the written word when Graham published “The Intelligent Investor” in 1949. In theory, it begins with investors pouring over the financial statements of publicly traded companies, looking for discrepancies between the companies’ economic value and stock price. They buy when the stock price is below the companies’ intrinsic value. When others discover the gem, they will also buy it and drive the price up. What has changed is the availability of financial reports. Once found only in Wall Street back rooms, they now can be found on the internet by any twenty something living in their parents’ basement.

What Charlie understood, but was unable to articulate, is that the stock market is not monolithic. Over the years new players have entered the game. When he and Warren stepped in the ring, high speed traders, algorithm traders and index funds were just a twinkle in Wall Street’s eye. Neither could they foresee the day you could program a moon shot on your cell phone. Warren got out more often than Charlie and recognized Mr. Market’s ever-changing nature. Thirty years ago, he began preaching, “Forget the Needle, Buy the Haystack.”

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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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