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Weekly Market Report – June 22, 2023
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Restaurant & Retail Updates
Zaytuna has opened in the Inner Rail Food Hall in at Aksarben Village. The business started in 2020 serving authentic Mediterranean cuisine out of a food truck in downtown Omaha.
The Salty Dog Bar and Grill will open a second location in a to-be-constructed building at MH Landing northeast of 72nd & Grover Street. The original location is at 2411 South 24th Street in Council Bluffs.
The ribbon cutting for On the Border Mexican Grill & Cantina will be July 18th at 8810 South 71st Plaza in Papillion. It will be the Dallas-based chain’s first Nebraska location.
The Rack Wine and Spirits plans to open a second location soon at Waterford Crossing, a new retail building on the northeast corner of 156th & Ida Street. The original location is at 1119 North 204th Avenue.
The Brunch Box has opened at 1308 Jackson Street in the Old Market, the same building as Hiro 88. The restaurant serves fast-casual brunch and frozen yogurt. On Thursday through Saturday, The Brunch Box is open for carry out until 3 a.m.
Athleta plans to open a store this summer at Nebraska Crossing. The only other Athleta store in the state of Nebraska is at Village Pointe.
We have two updates to last week’s news item that Flagship Restaurant Group is opening three restaurants in The Brickline building downtown. Memoir is expected to open late summer or early fall. The duckpin bowling entertainment venue will be known as Châm Pang Lanes.
Regency Landing near Interstate 680 & Pacific Street will hold a Summer Popshop Sunday July 16th. Hosted by Blue Sky Patio & Pickleball as well as The Collective, the Popshop will feature 20 local vendors including boutiques, makers, specialty services, and food trucks.
Because of the high marketing costs associated with acquiring new online customers, many retailers who had previously shunned bricks-and-mortar selling are now putting their products in department stores and other traditional retailers according to the Wall Street Journal.
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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 Mercer & Sons, the best ingredients push simple toward special
Lyle’s is one of those neighborhood spots that dot the city of Omaha: No matter how long it’s been open, it feels like it’s always been there.
The locally owned New York-style joint, which opened off 52nd and Leavenworth streets in April, has all the trappings of a comfortable, worn-in pizza joint, including a long bar, lots of white subway tile, vintage black-and-white photographs of Omaha and a large, powerful pizza oven.
During my two recent weeknight visits, our experiences were mostly positive: I liked more dishes than not on Lyle’s petite menu, and I found service friendly and prompt and the atmosphere comfortable and welcoming.
I’d heard about Lyle’s potato pesto pie from several friends before our first visit, and it was on the top of my list of things to try. It’s among a shortlist of six pizzas (we tried four), two salads, a few appetizers and one dessert.
I have a fondness for potato pizza — the Atlantic at Yia Yia’s topped with white sauce, mozzarella, broccoli, potato, bacon and grilled chicken is a long-time favorite; as is Dante’s Monterosso, with fingerling potatoes, garlic, rosemary, olive oil and mozzarella.
Lyle’s pesto and potato comes simply topped with thinly sliced salt and vinegar potatoes, roasted garlic, verdant basil pesto and a layer of mozzarella. It arrived searing hot, and on my first slice, the oil from the pesto had turned absolutely molten. I gave it a few minutes to sit, and the pesto came back together on its own. Though I didn’t get much of the salt and vinegar from the potatoes, I liked the pizza with its bright basil and roasted garlic flavors.
We tried two of Lyle’s meat pizzas: the sausage and the tres carne. The first came topped with chunks of fennel sausage, tomato sauce, mozzarella, spicy pepperoncini, dollops of goat cheese and a healthy drizzle of Mike’s Hot Honey, the pizza ingredient of the moment.
The pie packed a decent amount of spice between the hot honey, the pepperoncini and the sausage itself. Goat cheese was an interesting choice — one I hadn’t expected.
Even better was the tres carne, a sort of high-end meat lovers situation. The tomato-sauced pizza comes topped with the same fennel sausage along with pepperoni, mozzarella, oregano and thinly sliced prosciutto draped over the top of everything.
I like the dramatic presentation of the draped prosciutto, but it is rather hard to eat and, on the slice I tried, came off in one hunk in the first bite. It’s salty, savory finish in the one bite I did have added much to the pizza, and it might be worth slicing smaller to make eating easier.
The Funghi is one of Lyle’s simplest pizzas, and perhaps one of the best: deeply roasted mushrooms bring a lovely earthiness, and, paired with salty fontina, mozzarella and rich Parmigiano Reggiano. I could have eaten several slices.
Where Lyle’s really shines, and where it also stands out from the pizza pack, is its sourdough crust. On each pizza, it arrived with plenty of flavor from that sourdough starter, a thin but sturdy base layer that stood up to toppings (even heavy meats like sausage) and an absolutely delicious edge, dotted with brown bubbles and finishing with a crunch both airy and satisfying.
I didn’t get the chance to speak to co-owner Jeanette George before my deadline, but I do know from watching some other interviews she’s done that Lyle’s, as I suspected, is named after a former family dog that crossed the rainbow bridge. Lyle is included in the colorful mural on the restaurant’s east exterior wall, and his majestic profile graces the front of each menu against a graphic backdrop of a pepperoni pizza.
We tried one appetizer on Lyle’s menu, an array of green and black marinated olives served with plenty of warm pita for dipping in the fragrant, garlicky oil. I’d order it again.
The one clunker we encountered was the Caesar salad, which looks great when it arrives: a veritable mountain of romaine mixed with shaved Brussels sprouts, scallion, hazelnut breadcrumbs and finely shaved Parmigiano Reggiano, all of it tossed in an anchovy dressing.
In spite of its appearance, it lacked any zing, and badly needed salt, acid or both. I expected that flavor to come from the dressing, but the amount of anchovy in the dressing was too subtle to fill that gap.
Lyle’s has some fun cocktails on its shortlist — the San Jose Sidewinder is a summery hit — and on Wednesdays the restaurant offers half price bottles of wine. We tried a lovely Italian red that clocked in at just $18, and we took home what we didn’t finish.
The stretch of Leavenworth that Lyle’s calls home is, of course, next door to the former home of J. Coco. It’s nice to see a new, locally owned spot fill the gap left by the exit of that spot. Though Lyle’s has a different look and feel and a totally different menu, it’s small, vibrant presence brings impact. I know I’ll be back.
Sun – Thurs: 11a – 9p
Fri &: Sat: 11a – 10p
The Big Story
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Canopy Construction Kicks Off at Eppley
The Omaha Airport Authority today announced the $65 million Terminal Drive & Canopy Project as a component of “Build OMA,” a needs-based development program based on the Eppley Airport’s master plan to support growing passenger activity.
The Terminal Drive & Canopy Project construction is expected to be completed by the end of 2024. A new entrance roadway to the terminal was completed in 2022.
The Terminal Drive & Canopy Project is the next phase that will result in a new roadway at the curbside of the terminal and a massive glass canopy covering the entire roadway and passenger area from the south garage to the terminal. This project will add an additional passenger drop-off lane, make the drop-off and pick-up area ADA accessible and provide cover from weather elements.
“Build OMA is an important development for Eppley Airfield as we continue to enhance the travel experience for passengers in Omaha, while supporting long-term growth in airport activity” said Dave Roth, Chief Executive Officer at the Omaha Airport Authority.
Access to and from the terminal and parking garages will be maintained at all times during construction. Travelers can expect lane closures and should plan for extra time when traveling to and from the airport.
The ground level of the south garage is currently closed and will be used temporarily for passenger drop-off and pick-up later this summer as the canopy and roadway are constructed adjacent to the terminal.
Crews have already started removing some existing outdoor structures to make way for the new project.
The project is currently being funded with approximately $30.9 million in federal grants along with airport revenues, with further funding expected. The Omaha Airport Authority is a non-taxing authority and collects user fees to support the operation and maintenance of airport facilities.
This project is separate from the planned $600 million terminal expansion set to take place over the next few years.
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Grow Omaha Snippets
Grow Omaha Snippets Sponsored by:
The City of Omaha will invest $54 million at Tranquility Park in northwest Omaha to create a premier youth multi-sport complex and tournament facility. New hotels, restaurants and retail are also planned along North 120th Street between Maple and Fort streets. Plans for Tranquility include 13-16 synthetic turf multi-purpose flat fields and 8-11 synthetic turf baseball/softball fields, improved parking and concessions.
Projections show that the new facility will give Omaha the opportunity to attract at least 20 new regional and national youth sporting events worth $78 million in visitor spending each year. Construction will begin with the soccer fields in 2024; baseball and softball improvements will begin in 2026. Completion is planned for 2027.
Nebraska Medicine held a grand opening this week for a 90,000 sq. ft. facility at 17505 Burke Street on its Village Pointe Health Center campus, according to Nebraska Examiner. It’s the fourth building on the west Omaha campus and adds services including heart and vascular, orthopedics, pre-surgical screening pulmonology and an on-site pharmacy.
The Omaha Planning Board approved a 199-unit apartment project planned at 144th & Dupont Court. The 5-acre site is directly north of Harvey Oaks Shopping Center. An existing medical office building must be razed before construction can begin.
A new mini park opened last week just before the start of the College World Series on the northeast corner of 12th & Capitol Avenue. The baseball-themed park includes extensive landscaping and a large mural by nationally known artist Kelsey Montague. National Indemnity Company owns the building/land and paid for the project. E&A Consulting designed the park, while Mulhall’s installed it.
Oxbow Crossing is a 6-acre new development planned for Highway 6 & Silver Street in Ashland, according to the Lincoln Journal Star. Plans call for a 5,300 sq. ft. healthcare facility, an event center, a Runza restaurant and a local steakhouse. Omaha-based Red Line Development plans to build 48 apartment units as part of the project.
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Local Business News Sponsored by FranNet of The Heartland:
Berkshire Hathaway has increased its ownership interest in five of the leading Japanese trading companies. The companies are Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo. Presently these are the only publicly traded investments that Berkshire owns in Japan. Their aggregate value considerably exceeds that of Berkshire-held public stocks in any other country outside of the United States.
Construction has started on a new Kia dealership in the Steel Ridge development northeast of Interstate 80 & Highway 370 adjacent to H&H Chevrolet.
Behlen Mfg. Co. of Columbus, Neb. plans to close its Omaha facility at 3838 South 108th Street, according to the Omaha World-Herald. Omaha employees have the option of transferring to Behlen’s operations in Columbus. The Omaha plant will be either repurposed or sold.
Sapp Bros. opened a biodiesel blending facility on June 15th in at 1700 Saltillo Road in Roca, Neb.
Omaha Steaks was recognized as one of Nebraska’s Safest Companies for the 22nd year in a row by the National Safety Council. The council honored Omaha Steaks, along with 114 other Nebraska companies for their dedication to outstanding safety programs.
Union Pacific Corporation will release second quarter 2023 financial and operating results on Wednesday, July 26th 6:45 a.m. CDT. The company’s management team will host a conference call and live webcast at 7:45 a.m. CDT.
Samantha Estivo and Jorge Sotolongo of NAI NP Dodge represented the seller in the recent sale of 2-level, 12,000 sq. ft. office building at 5634 S 85th Circle.
A recent study by Lendio of the Best & Worst States for Minority Entrepreneurs ranked Nebraska at #31. Minorities own 5.3 percent of Nebraska businesses. The number of jobs at these companies grew by 227 percent from 2019-2021. Nebraska distributes more business loans to underserved communities ($365 per capita) than the national average ($351 per capita) through the Federal Community Reinvestment Act.
According to a Mutual of Omaha survey, just one in four respondents said they feel confident about their financial future. Only 26 percent are considered “protection confident” (feeling secure) about their financial futures both today and 10 years in the future. The remaining 74 percent are uncertain about their future or fall into the “protection threatened” category.
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
Sponsored by Dundee Bank
LEADERSHIP & MANAGEMENT
Gen Zers are having a tough time with corporate office etiquette according to a Wall Street Journal article, because they are working mostly or exclusively remote. These young professionals have missed out on working alongside mentors and senior leadership. Presenting or networking in person can be challenging after years of communicating only through virtual channels.
In a study of 8,000 working professionals in eight countries, 57% of respondents said jargon wastes their time on multiple occasions every month, according to Fortune. Here are some of the most disliked, annoying phrases in today’s work environment:
“Boiling the ocean”
“Move the needle”
“Run it up the flagpole”
“Drinking the Kool-Aid”
“Out of pocket”
“Building the plane while flying it”
Remote workers are earning on average 9.7 percent more than in-office workers, according to Fortune. Hybrid workers earn 9.6 percent more than their in-office counterparts.
You may have been taught to talk about your company in a first meeting to make you sound credible, says sales author Anthony Iannarino. But such talk shows you are someone who wastes a prospect’s time. You may also have been trained to brag about your big clients by sharing their logos on a PowerPoint slide. The only logo the client is interested in is their own.
According to TOPO, only 23 percent of sales emails are opened. That’s why email language and subject lines are so important.
“Your time is limited, so don’t waste it living someone else’s life.” – Steve Jobs
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Upcoming Events in the Metro
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Art Fluid Open Studio Night on June 23rd: Hot Shops Art Center is a living museum inviting you to wander through three floors of art and working artist studios! This month’s open studio night is in celebration of the long-lasting construction alongside Hot Shops Art Center finally ending. Join others and enjoy the live music, pride fashion show and of course – lots of art!
Sleeping Bag Safari – 21+ Grown Up Safari on June 24th: Come out for an overnight program where adult guests spend the night at the Omaha’s Henry Doorly Zoo and Aquarium’s Safari Tent Camp site and experience the exhibits after hours. Program includes a picnic dinner and drinks, an evening hike, movie, snacks, “grab-n-go” breakfast, morning hike and free day at the zoo. This event is 21-and-over-only and happening on select dates through October. Be sure to make a reservation and save your spot for a night experience at the zoo!
Opera to Go on June 25th: Enjoy an opera show for free at Florence Mill Farmers’ Market on June 25th! Opera Omaha Artists Mary Carrick, Matthew Sommer and Rocio Valle will perform a 45-minute program of opera and music theater favorites with some surprises sprinkled-in. But the fun doesn’t stop there! Florence Mill Farmers Market will feature fresh local produce, baked goods, arts, crafts, music, visiting animals and more! Anyone can join in on this night of music, local baked goods and fun!
Garden Guided Meditation on June 26th: Mondays can be one of the most stressful days of the week! Counter that stress with an easy-to-follow, rejuvenating experience that enhances or achieves a meditative state. There are multiple sessions throughout the year and each one uses different techniques so you can find out which type of meditation works for you! Bring a yoga mat and a friend to relax and enjoy the beauty at Lauritzen Garden!
Nebraska Startup Social | Fireside Chat + Startup Pitch on June 28th: Ever wondered how to turn a good idea into a great startup? Join others in the community at Elevator on June 28th from 5-8 p.m. for an inspiring panel discussion hosted by Elevator, Scale Omaha and Maxwell. You’ll be able to learn invaluable insights from investor panelists during their fireside chat while networking with others in the startup space. You’ll even be able to “Shoot Your Shot” with a 2-minute pitch!
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
NP Dodge Real Estate has welcomed new residential sales associates including Alex Riessen, Elizabeth Boll, Emily Reynolds and Glenn Groebli.
CharterWest Bank has appointed Jim Murphy as Omaha metro market president. He previously spent nearly 26 years at Bank of the West. He holds an M.B.A. degree from the University of Nebraska at Omaha and a Bachelor of Science degree in Finance from Wayne State College.
Dr. Gerard Kugel has been selected as the next dean of the University of Nebraska Medical Center College of Dentistry. Pending University of Nebraska Board of Regents approval, Kugel will begin at UNMC on Sept. 18. He has served as associate dean for research and professor of comprehensive care at Tufts University School of Dental Medicine in Boston.
Warren Buffett, CEO of Berkshire Hathaway, has converted 9,129 A shares into 13,693,500 B shares in order to donate 13,693,432 shares of Berkshire Hathaway “B” stock to five foundations: 10,453,008 to the Bill & Melinda Gates Foundation Trust, 1,045,300 shares to the Susan Thompson Buffett Foundation and 731,708 shares to each of the Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation. The donations were delivered June 21st. Buffett’s ownership of Berkshire now consists of 218,287 A shares and 344 B shares.
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.
At the risk of sounding like a one trick pony, it’s interest-rate-reveal time again. The jibber jabber from the finance media is that the world is hoping for – and expecting – a pause. The CPI numbers were released and showed a life-altering reduction of one tenth of a percent month-over-month.
Yes, you read it correctly – one tenth of one percent – to the headline-starved talking heads at CNBC, this is a B.F.D. Mr. Market gave a ho-hum and moved up slightly, but nothing like a kid in a candy store
On the day of the reveal, the media were all a twitter, getting ready for 1 p.m. when the big news comes out. Market’s up about 75 basis points. When I use the term the “market,” you need to go back to my earlier comments about disengagement. The three major indexes – S&P, Dow and NASDAQ – have continued their disconnect, and the NASDAQ continues on its whip ass journey upward. The S&P is just so-so, and the Dow is sucking you-know-what.
Fast-forward to lunchtime. I gobble down my PB&J and banana and turn on Yahoo finance, click on NASDAQ and pull up the chart. This chart is about as close to online real time as you can get for free. This gives you Mr. Market’s pulse, as good as anything you’ll get it the doctor’s office.
For most of the day, the market continued to stay at 50 to 75 basis points higher. Immediately at 1 p.m. Central Time, the news hits the wire. Surprise, surprise – the Fed announces what everybody knew they were going to do: pause for the month. BOOM! Volume goes off the charts, and the NASDAQ drops 50 basis points.
The only way that a rational human being can say that this was a logical calculated response would be if they were on drugs and alcohol, most likely both. Fast-forward another 30 minutes and Mr. Market decides it’s not as bad after all, and the market moves up a little bit. Then it moves down a little bit, and at the end of the day, we close about where we started.
Because I have no social life, I spent most of the rest of the afternoon listening to the morons on CNBC explain what happened, rationalizing away what they had said at the start of the day. Then, after watching Mr. Markets hissy fit, they had the chutzpah to predict what will happen next.
Now back to the one-trick pony thing. I know you have heard this song before, so why am I singing it again? Because Wall Street and their media enablers – even in the face of the facts – maintain their self-serving interpretation of this event. I operate under no illusion that I can encourage them to sing a new song. But I am hopeful that I can open a few eyes to the need to ignore the needle and buy the haystack.
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