Weekly Market Report

Nicole Buntgen, Contributing Writer

Hollywood Candy, a retro candy shop and arcade located at 1209 Jackson Street in the Old Market, will soon offer alcoholic slushies and shakes after the Omaha City Council approved a liquor license in a 6-0 vote Tuesday. Co-owner and managing partner Aaron Wojtkiewicz said he wanted to offer something extra for adults who frequent the business with their children, according to the Omaha World-Herald.

Tom Yum Knook, a local, family-owned Thai restaurant, debuted this week at 1401 East Gold Coast Road in Papillion, near Ollie & Hobbes off Highway 370. Offering authentic Thai cuisine, herbal teas, boba, and desserts, the restaurant operates despite lingering exterior signage from the previous occupant, Hunan Palace.

Golden Apple Buffet has officially opened at 9614 South 71st Plaza, just northeast of 72nd and Cornhusker Road in Papillion. The buffet features more than 150 Chinese food and sushi items, a sushi station and a grill area.

Chili Dawg’s Foods of Fire opened its new Gretna location earlier this week at 11844 Standing Stone Drive in the former Bell Pool & Patio space. The business, owned by a sibling duo, launched in 2005 and was formerly located in Blair. Chili Dawg’s sells pepper spreads, spices, and rubs that the business says, “Puts the Eat in Heat,” per its slogan.

OsteoStrong is formally opening June 14th at 10050 Regency Circle. The franchised wellness center offers a unique system designed to develop and build bone strength. The company started in Houston and has locations worldwide. The closest existing location is in Sioux City, Iowa.

The former Fyzical Therapy & Aquatics building on the northeast corner of 39th & Farnam Street in the Blackstone District will become a new location of Makovicka Physical Therapy.

Austin’s Steaks & Saloon, a traditional steakhouse that reopened in November 2019 in the Shops of Legacy at 16920 Wright Plaza, has sold its assets and will officially close on June 9th. The steakhouse first opened in 1986. It has not been announced what business will take over its space.

For the first time ever, Vala’s Pumpkin Patch & Apple Orchard will sell items outside of its regular fall season. Orchard-based hard ciders and various homemade pies will be available at the Gretna Farmer’s Market, which takes place on Saturdays in downtown Gretna from June 1st to October 19th.

Stories Coffee Company, a family-owned coffee shop and roastery with locations in Omaha and Lincoln, will soon release an espresso and tea cocktail menu. The menu, available at its Omaha and Gretna locations, features espresso martinis, chai cocktails, lavender vodka lemonades, and more.

TJX, the parent company of TJ Maxx, Marshalls, and HomeGoods, has announced plans to equip some staff members with body cameras to prevent shoplifting and ensure safety, according to CNN. The Massachusetts-based corporation has five Omaha locations between among the three store brands.

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

Talus Brings Comfort Fusion to Papillion

The sign went up above Talus’ space in Papillion in February of 2020 and immediately started creating a buzz. A month later, the pandemic stalled plans, and it wouldn’t be until August 2022 until the doors finally opened.

Owner and senior executive chef Aron Mackevicious started his Omaha culinary career 26 years ago, working his way through independent restaurants such as M’s Pub, Twisted Fork, Upstream, Vincenzo’s and the former Vivace.

Mackevicious got a call from one of the Talus partners in March of 2022 while he was working at Railcar. After several conversations, he came on board. The opportunity presented a chance to launch his vision for food – “comfort fusion.”

Omaha Fares Well in Latest Fortune 500 & 1000 Lists

The 2024 Fortune 500 and Fortune 1000 lists have been released, and Omaha continues to serve as the home of several of the nation’s biggest countries.

The iconic listing of America’s biggest companies is now in its 70th year. The 500 companies are ranked by annual revenue and together represent two-thirds of the U.S. Gross Domestic Product. Together, the companies amassed $18.8 trillion in revenue, $1.7 trillion in profits and $43 trillion in market value. The 500 companies employ 31 million people in total.

Like last year, Omaha hosts the headquarters of four companies in the Fortune 500 and an additional four in the Fortune 1000. That means Omaha has more headquarters than many much larger cities including Kansas City, Oklahoma City, San Antonio, Indianapolis, Salt Lake City, Sacramento, Las Vegas, Portland, Nashville and others.

Here’s the list of Omaha’s Fortune 500 and 1000 companies with rankings and revenue totals:

#5 Berkshire Hathaway – $364 billion +

#170 Union Pacific – $24 billion +

#239 Peter Kiewit Sons’ – $17 billion +

#306 Mutual of Omaha – $13 billion +

#726 Valmont Industries – $4 billion +

#845 Green Plains – $3 billion +

#846 Werner Enterprises – $3 billion +

#937 First National of Nebraska – $2.7 billion +

No other Nebraska cities host any Fortune 500 or 1000 company headquarters. The state of Iowa has three in the Fortune 1000:

#274 Casey’s based in Ankeny
#310 Principal Financial based in Des Moines
#922 American National Group based in West Des Moines

As far as Nebraska’s other border states are concerned, neither South Dakota nor Wyoming have a single Fortune 1000 company headquarters. Kansas has four. Missouri hosts 20 while Colorado has 23.

This section is sponsored by RENZE. For over 129 years, we have been providing our clients with innovative solutions for interior corporate and retail branding, as well as unique exhibits and graphics for tradeshows and events. With leading-edge equipment and quality craftspeople working out of our 90,000 sq. ft. facility, we like helping brands grow. Click HERE to see our work for the new headquarters of CQuence Health!

Isaiah Ang, Contributing Writer

Food Bank for the Heartland held a groundbreaking for a $37 million building planned for the northeast corner of 84th & L Street. The food bank will sell its current building at 10525 J Street. The 105,000 sq. ft. building will be constructed on a 12-acre site formerly occupied by H&H Chevrolet before it moved to the Steel Ridge development near Interstate 80 & Highway 370. Completion is planned for 2026.

The City of Omaha plans to annex approximately 32 acres on the southeast corner of 180th & West Maple Road, including a new Costco store scheduled to open July 12th. The land is bounded by Emmet Street to the South and an existing apartment complex to the east and is platted into seven plots, zoned for mixed-use. While it’s currently undeveloped, the land brings $7.7 million of property value to the city and has a positive, 10-year cost-to-revenue analysis of $14.4 million.

The Omaha Planning Board approved the final plat and rezoning for University of Nebraska Medical Center’s western campus expansion. The new Saddle Creek campus will be anchored by the Catalyst in the former Omaha Steel Works plant. The western campus is designated for transit-oriented development, allowing for increased density.

In May’s all-campus forum, UNMC leadership gave an update on the project. The Catalyst is on track for an early 2025 opening and the administration and research building, known as the CORE, will start to go vertical this Fall. An undisclosed private developer is also considering building 250 apartment units wrapped around the campus’s future parking garage.

UNMC and city leaders joined U.S. Rep. Don Bacon last week to provide an update on plans to improve pedestrian and bicycling infrastructure through the campus, including $2 million in additional federal funding to help build new pedestrian bridges. The new Saddle Creek Campus will be connected to the main campus by a bridge over Saddle Creek Road, while another bridge will span Leavenworth Street, connecting the south campus to the Field Club Trail.

The Omaha City Council approved Mayor Jean Stothert’s appointees Omaha Inland Port Authority board this week. The board is authorized to procure and assemble property for the development of shovel-ready industrial sites within the designated area of the inland port district. The district has boundaries defined by certain proximity to waterways, highways and airports. Omaha’s inland port district is located in north Omaha west of Eppley Airfield near Carter Lake.

The City of Fremont and Dodge County took the same steps last year, appointing the board of the Fremont Municipal Inland Port Authority. The 1,500-acre Fremont district is located between the eastern terminus of Morningside Road and Highway 275. The Fremont Tribune reported that the board is in the process of applying for $2 million in state funds to help with initial planning costs. An engineering consultant estimate $50 million is necessary for infrastructure, including road, railway and water facility improvements, to make the site shovel-ready. The authority has not yet acquired land. The project could take up to 20 years to complete.

A “missing middle” housing project is moving forward in north Omaha. A developer is constructing identical 3-story, 3-unit apartment buildings at 3324 North 16th Street and 3024 North 16th Street. Each apartment unit will comprise a floor of the building. Missing middle housing types include duplex to fourplex residential buildings, rowhouses, courtyard apartments and additional dwelling units. Such housing was prevalent in U.S. cities prior to zoning regulation changes in the mid-20th century. More recently, cities including Omaha have introduced more inclusive zoning regulations to help encourage development of missing middle housing.

The City of Omaha and Omaha Performing Arts Society are jointly applying for state assistance through turnback taxes under the Sports Arena Facility Financing Assistance Act. The act allows a municipality to apply for state funds garnered from sales taxes collected by retailers within 600 yards of a qualified facility. In this case, the qualified facility is the recently constructed Steelhouse Omaha. The requested turnback would help fund the promotion of arts and cultural events.

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.”

The City of Bellevue and its partner, American Resort Management, LLC, have chosen “Bellevue Bay Indoor Waterpark” as the name for Bellevue’s planned $63 million indoor waterpark. The 100,000 sq. ft., year-round facility with a retractable roof, is planned for the northwest corner of Highways 34 & 75. Site work could begin by the end of the year with the build-out expected to take 18 to 24 months.

Investors who purchased shares in Berkshire Hathaway this at a huge discount will see their trades canceled following a technical issue on the stock exchange, according to Fortune. On June 3, a data glitch led the global conglomerate’s stock price to fall to $185 a share, having previously closed at over $620,000. The drop meant a more than 99% discount on the Warren Buffett–led company.

Union Pacific has updated the logos atop its headquarters building at 14th & Douglas Street downtown. The former, plain silver logos adorning the 19-story building have been removed and replaced with 16-feet-tall versions of UP’s traditional, red-while-and-blue shield logo.

Fiserv, a Milwaukee-based company with major operations in Omaha, has published its May small business index. The data analyze consumer transaction data (card, cash, and check) at approximately 2 million U.S. businesses. May saw a shift toward non-discretionary spending, as spending growth at grocery stores, for example, outpaced that at restaurants. Nebraska experienced small business sales growth of +2 percent month-over-month and +4.4 percent growth year-over-year. Sectors with the greatest month-over-month sales growth in Nebraska included Educational Services (+14.6%); Arts, Entertainment & Recreation (+7.8%); and Professional, Scientific & Technical Services (+2.5%).

A quarter horse race track could someday come to Bellevue. The Nebraska Racing and Gaming Commission last year commissioned a statewide horse racing industry analysis, gaming market analysis, and socio-economic impact study. The amended study, which was released last month, concludes that a quarter horse track in Bellevue would be a positive for the Nebraska racing industry.

The Creighton University Mid-America Business Conditions Index, a leading economic indicator for the nine-state region stretching from Minnesota to Arkansas, fell below the growth neutral threshold for May. The index, which ranges between 0 and 100 with 50.0 representing growth neutral, sank to 48.2 from April’s 52.5, the third time in 2024 that the index has fallen below growth neutral.

LEADERSHIP & MANAGEMENT

Cooling Labor Market – The number of U.S. job openings shrank for the second month in a row, setting a new three-year low, according to CNN. There were 8.06 million available jobs posted in April. That’s below the downwardly revised 8.36 million seen a month before and the lowest since February 2021.

Some millennials are quick to tell you how difficult their lives are. Apparently, that’s not changing as they age. Of 1,000 millennials surveyed, 81percent reported they can’t afford to have a midlife crisis, according to Fortune. That’s defined as either dramatically gaining or losing weight, consuming more alcohol, attending therapy, changing appearances or taking on a new hobby.

Putting “AI” on your resume might make you more money, according to The Hustle. AI-related roles in the saw up to a 25 percent salary premium on average. Some roles saw particularly high salary premiums for AI specialists, like database designers and administrators (53%), lawyers (49%), and sales and marketing managers (43%).

Digital Decay – Thirty-eight percent of all webpages that existed in 2013 are no longer accessible a decade later, according to the Pew Research Center.

SALES

Top-performing salespeople know their Ideal Customer Profile, or ICP, according to sales author Mark Hunter. Focusing on this prevents you from prospecting people who have no ability to buy from you, are you in an industry you are unfamiliar with and you don’t know. Great salespeople stay in their ICP because it allows them to be confident and more knowledgeable, allowing them to close deals faster and at higher prices.

The BragBird online sales training program gives you an edge when competing for new business. There are 40 modules, each a different topic with 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 ambitious, click HERE now!

WISDOM

“The pessimist complains about the wind. The optimist expects it to change. The leader adjusts the sails.” – John Maxwell

https://www.dundeebanking.com/

Did you know that students from 68 countries attend the University of Nebraska at Omaha?

Did you know Father Flanagan believed that all boys, regardless of race or religion, deserved a second chance? His views on race caused many troubles for Boys Town in the first half of the 20th century, when much of the country was segregated.

Did you know the elevation of the Eppley Airfield is 984 feet, while the Millard Airport is 1,051 feet?

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.

Night Light: Adults Only on Thursdays: Thursday evenings at the Kiewit Luminarium are reserved exclusively for adults! Delve into our engaging exhibits and stimulating events designed to broaden your mind and ignite delight. Adult drinks will be available for your enjoyment all night long! Whether you come with a friend, a date or by yourself, it’s the perfect setting for an adults-only experience.

Friday Night Concert Series recurring weekly on Fridays until August 30th: Enjoy live music on the plaza every Friday night, June to August, from 7 to 8 p.m. Come early and have dinner on the patio at Pasta Amore, Pulled BBQ or Jaipur. Afterwards, enjoy a drink at Public House or Corkscrew Wine & Cheese. Bring a folding chair and listen to great live music from country to rock to soulful blues for free!

Midwest Fest 2024 on June 8th & 9th: One of Omaha’s most beloved events has a new name and a new location! Formerly Hutchfest, the rebranded Midwest Fest will happen at Heartland of America Park at the Riverfront. Shop, eat, drink, play and jam! Explore hundreds of handmade artisans and vintage dealers from across the Midwest. Munch on street-style brunch fare or sip gourmet cocktails. Enjoy games and live music!

15th Annual Polishfest at Crescent Moon on June 8th: It’s the Crescent Moon’s 15th year hosting the Polishfest! Mark your calendars and plan to join in on Saturday, June 8th. Enjoy a beer garden featuring polish beer, polish food from Ale House Grill and live music!

Leashes at Lauritzen on June 10th: Dogs love going on an adventure- make your next night out with your four-legged friend an evening garden stroll during Leashes at Lauritzen. These events are enjoyable nights for dogs to walk the trails, meet other dogs, to take photos among the flowers and foliage and hangout with other dog lovers. They’ll have water available at stations throughout the garden.

Modus Free Coworking Day on June 13th: Experience the freedom of coworking at Modus’s monthly FREE coworking day, held every second Thursday of the month from 8 a.m. to 5 p.m. Work in a vibrant atmosphere with high-speed wifi and take advantage of their office amenities. And that’s not all – you’ll also be able enjoy the delicious Amateur Coffee and Artemis tea throughout the day!

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.

Eric Baldwin, vice president for student development at the University of Lynchburg in Virginia, has been named vice provost for student life at Creighton University, effective June 24th. Baldwin brings more than 30 years of experience in student affairs to the position.

Sheppard’s Business Interiors has hired Ben Reynolds as vice president of sales, Dana Rewalt and director of sales and Andrew Wesely as an architectural solutions specialist.

WoodmenLife has appointed Jason Taylor of Macon, Ga. as regional director of the company’s Georgia Central region. He began his WoodmenLife career as a sales representative in 2004 and was promoted to recruiting sales manager in Georgia North in 2019.

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.

My wife claims I have no social life. True, most of my week is spent talking to brokers, individual investors and monitoring the financial media. Recently, I have noticed an increase in jibber jabber about the 60/40 split: 60 percent stocks and 40 percent bonds.

When I was a wet-behind-the-ears, newbie broker, the 60/40 split was my main shtick. Our parents told us “Don’t put all your eggs in one basket,” so some stocks and some bonds seemed logical and therefore a quick buck.

Back then, the public’s experience with the stock market was zilch. Bonds were considered safe, and so a prudent investor wanted to have them in their portfolio to protect against the downside.

Back in the day, we didn’t have the plethora of mutual funds we have today. This was especially true on the bond side. Most of the portfolios that my fellow brokers and I put together consisted of individual blue-chip stocks and zero-coupon bonds. These are bonds that can be purchased in small dollar amounts, at a discount to the maturity face value. Most are federal-government issued and therefore guaranteed safe. The most attractive feature of this approach – to the broker – was that over time, it was certain that the portfolio would become unbalanced and the rebalancing process generated commissions.

In today’s electronic and eclectic financial services industry, we find a significantly different situation. Mutual funds are available in every size and shape imaginable. But – and this is a big but – most don’t generate commissions.

The second part of this equation is the electronic nature of the brokerage firms. Most financial advisors put their clients into electronically monitored robot accounts, which allow computers to do the rebalancing, with little time or effort required from the broker. And, the broker can charge a fee based upon the dollar amount of the client’s assets for this service.

Recently, the mechanical 60/40 rebalancing formula has led to some unintended consequences. Bonds are reasonably safe if you own individual investment-grade bonds and hold them to maturity. On the maturity date, 100 percent of the principal will be repaid to you.

Using bond mutual funds instead of holding individual bonds is a game changer. Until recently, we had been in a declining interest rate environment. When interest rates go down, the principal value of a bond goes up. When interest rates are rising, the principal value of a bond goes down. When you are in an actively managed bond mutual fund and your fellow shareholders want to leave the fund, the fund manager has to sell bonds – at a loss – in order to return their cash. Over the course of the last few years, this has caused losses to occur in many bond funds.

A very wise investor from Omaha has often stated that prudent investors must ignore the scoreboard and monitor the playing field. Translation; If you’re looking at the scoreboard, you’re watching what has happened and you’re not paying attention to what’s going to happen.

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

Quantum Fiber in Omaha, Nebraska, is super-fast, reliable internet. We did away with data caps, bundles, and pricing gimmicks because you don’t want them. Instead, you get game-changing customer service, transparent pricing, and a powerful app for freedom, simplicity, and control over your internet. Quantum Fiber is what internet service looks like when it’s built for the world of you.

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!

Know of someone else who wants to receive this newsletter? Have them send their name and email address to news@growomaha.com!