Weekly Market Report – May 11, 2023

Salted Edge Modern Kitchen + Bar will open this summer inside A View West Shores near 243rd & West Dodge Road overlooking West Shores Lake. According to restaurant’s website, Salted Edge will be “a humble abode where friends, families, and all walks of life can come together to experience a refined blend of upscale dining and lively-yet-casual vibes and edgy times.”

El Muchacho Alegre plans to open a second location in the former Angus Burgers and Shakes space at 10177 South 168th Street in Gretna. The Mexican restaurant’s original location is at 6222 North 72nd Street.

Legend Comics & Coffee has found a permanent space at 6068 Maple Street in Benson. After losing its lease last year at its long-time store near 52nd & Leavenworth Street, the locally owned business opened a temporary shop at 31st & Leavenworth Street. Legend plans to open in Benson this summer.

El Taco Loco has opened at 13816 P Street. The locally owned restaurant serves Mexican street tacos, as well as burritos, quesadillas, tortas and tamales.

Bomb Taco Taqueria & Cantina is now open in the former Burrito Envy space at 12321 West Maple Road.

We now have a soft opening date for Wonton Jon’s bricks-and-mortar location at 2740 North 61st Street: May 20th.

The owners of Empowering Kids Academy Childcare Center and Preschool plan to open a new business called Kids Cave Play Café in northwest Omaha. An exact opening date and location have not yet been announced. The business will sell coffee and pastries while providing supervised play sessions while parents work or run errands.

Pedego Electric Bikes has opened its location in the former Omaha Lounge at 1505 Farnam Street. An existing store is at 14440 F Street.

TJN Enterprises is a grounds maintenance business, which operates a garden center at 214 Adams Street in Papillion. The company is going to announce a new name for the retail side of its business at a May 16th ribbon cutting.

Tommy’s Express Car Wash will replace the former Metro Credit Union building at 4501 North 72nd Street.

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

The 38 Best Restaurants in Omaha!

By Sarah Baker Hansen

This week, in lieu of a new review, we bring you 38 mini-reviews of Omaha’s best restaurants, updated for 2023. This is Sarah Baker Hansen’s second “Omaha Essentials” list for Eater.com, updated to the most current list of best restaurants, bars and coffee shops listed from West Omaha to East Omaha.

See the entire list: HERE.

UNMC Celebrates Groundbreaking of Innovation Hub West of Saddle Creek

University of Nebraska Medical Center Chancellor Jeffrey Gold praised the community partnerships that keep UNMC on the cutting edge of research, education and clinical care Monday at a ground-breaking event for the Innovation Hub at Catalyst, which the university is building near 48th Street and Saddle Creek Road in Omaha.

UNMC held the groundbreaking ceremony off-site at the Dr. Edwin G. & Dorothy Balbach Davis Global Center, 42nd and Emile Streets, according to a UNMC press release.

Gold welcomed Gov. Jim Pillen, U.S. Sen. Pete Ricketts; Omaha Mayor Jean Stothert, University of Nebraska System President Ted Carter and Carl Koelbel, chief operating officer of Koelbel and Company, the development team leading the $65 million redevelopment of the former Omaha Steel Works property, to the event.

“This project – and the neighborhood that will surround it – will revolutionize the western edge of our Omaha campus,” Gold said. “More so, the new products, drugs, treatments and devices that are developed in this facility, through academic innovation, private ingenuity and so much more, will benefit all of humankind for generations to come.”

The Innovation Hub at Catalyst is part of UNMC’s larger Saddle Creek redevelopment project in Midtown Omaha. The Catalyst building will bring UNMC’s UNeMed and UNeTech branches together to facilitate the growth of research and innovation and allow entrepreneurs, investors and innovators to collaborate in the renovated 1906 Omaha Steel Castings industrial tract. Remaining space will be unfinished and leased to a wide spectrum of biotech and technology startups.

Work has begun on the site and completion of the Catalyst facility is expected in late 2024.

The project’s developers sought and received approval from the City of Omaha for $6.3 million in tax-increment financing, according to Nebraska Examiner. Planning documents estimated the Catalyst could bring up to 670 full-time jobs to the area, about half of which would be relocated and the rest newly created from expansions and startups.

“This is a day to celebrate something new that’s coming to UNMC,” Carter said, noting the importance of promoting an entrepreneurial culture. “The type of lab to market activity that is so crucial to growing Nebraska’s tech economy is exactly what we hope will occur at Catalyst. The more ideas we spark, the more partnerships we can form and the more economic growth we create for Nebraska. That’s a win for the entire state.”

Pillen praised Nebraska’s unique public-private partnerships and philanthropic spirit, saying: “This is another extraordinary day in the growth of Nebraska…When there’s needs and opportunities and innovations, Nebraskans step up 100% of the time.”

The project reflects the United States’ innovative spirit, Ricketts said, adding, “When we’re talking about development and innovation, this project is emblematic of who we are as Nebraska and Americans.”

Mayor Stothert agreed, saying the day was a celebration of growth and opportunity. “Once a place of industry and history, and now a future of medical research and innovation, the Catalyst is part of our vision to make Omaha’s urban core the economic engine of the entire region.

“Progress requires initiative, experience and commitment to our community,” Stothert said. “The momentum of our urban core is undeniable. The Catalyst will offer another compelling reason to attract the best and brightest to our state for research, innovation and investment.”

The Catalyst facility will emit a vibe of energy, collaboration and innovation, said Koelbel, chief operating officer of Koelbel and Company. “This project is a great signal that UNMC, Omaha and Nebraska (are) open for business, advancement, innovation and collaboration. And, in 18 months, Catalyst will be open for tenancy; so if you know of any people in health care looking for a home, send them our way.”

Inventions, Gold said, not only make lives better, but are important for the health of great universities. UNMC has a proud history of technology transfer, he said, noting that in the past two decades, med center physicians and health care scientists have registered nearly 1,500 inventions and 300 licensing agreements. In the past five years alone, he said, there were over 500 invention disclosures, resulting in more than 90 licensing agreements and well over $10 million in incremental revenue.

In addition, Gold said, the med center has given birth to 19 startup companies during the same period of time, taking products to the marketplace, strengthening the economy and of course, improving the human condition.

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Construction is underway on a Class-A medical office building at 11902 West Center Road. The new building is going up on the former Crosby Burket Swanson Golden Funeral Home site. According to Investors Realty, the first major tenant in the building recently signed a lease.

The Omaha City Council selected Leo A Daly to plan and design a combined headquarters for the police and fire departments. As part of the $3 million agreement, Leo A Daly will provide a functional civic facility that meets the needs of modern policing, firefighting services and emergency responsiveness. The site would likely be downtown or nearby. A public vote will be necessary before any construction would begin. The combined headquarters building could be ready as soon as 2027.

Community Health Development Partners plans to redevelop an indoor parking building at 112 South 20th Street, just south of Central High School. Plans call for converting the 28,908 sq. ft., 3-level building into a health clinic and office building with an outdoor rooftop event space.

Trinity Housing Development, LLC will celebrate the grand opening June 7th of its first development in Nebraska: Deer Creek Village at 2361 Betty Court in Bellevue. Deer Creek is an affordable housing development with 48 units, a mix of single-family houses and duplexes. The developer is based in Springfield, Mo.

Nebraska is #4 in the 2023 U.S. News & World Report’s Best States rankings. Nebraska fared especially well in the categories of infrastructure (#5), education (#7), economy (#10), fiscal stability (#11) and natural environment (#12). Overall, Utah was #1, while Louisiana came in last. Here are the regional states: Minnesota #5, Iowa #7, South Dakota #12, Colorado #15, Wyoming #26, Kansas #27, Missouri #30.

Omaha ranks #11 out of the 63 largest cities in North America for best pandemic recovery of its downtown area, according to a University of Toronto report. The study looked at foot traffic via smart phones to determine activity levels in downtown areas. Downtown Omaha activity is now at 83% of pre-pandemic levels.

Downtown Salt Lake City was number one with 139% of pre-pandemic activity. San Francisco was in last place with only 32%. Here are a few regional cities of interest: #15 Wichita, Kan. 77%; #21 Colorado Springs, 73%; #34 Denver, 62%; #39 Chicago, 57%; #56 Kansas City, 47%; #59 Minneapolis, 41%; #62 St. Louis, 38%.

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Kiewit Corporation will move at least four divisions from its office space at 12720 I Street into the PayPal campus southeast of Interstate 80 & Giles Road, according to WOWT. The first Kiewit employees will make the move next month. PayPal has dramatically downsized its office use as many employees work remotely.

During Berkshire Hathaway’s annual shareholders meeting in Omaha last weekend, CEO Warren Buffett said the U.S. dollar’s position as the world’s reserve currency is secure. “I see no option for any other currency to be the reserve currency,” he said.

The Omaha Streetcar Authority has selected HDR to deliver the final design for the city’s 3.2-mile streetcar project, connecting downtown to the University of Nebraska Medical Center. Omaha-based HDR’s services include track, transit systems, traffic, architectural and other civil design; procurement support; public engagement and operations. HDR previously led the project’s preliminary design.

Woodhouse Auto Family has acquired Huber Chevrolet and Cadillac, according to the Omaha World-Herald. Woodhouse has multiple dealerships in the metro area. Huber is located at 11102 West Dodge Road.

A recent Harris Poll commissioned by Omaha Steaks found while 40 percent of Americans have cut back on purchases, 55 percent are unwilling to sacrifice their summer grill-outs with family and friends. Omaha Steaks surveyed more than 2,000 U.S. adults.

Omaha Trauma Therapy is opening a second location in a 1,600 sq. ft. space at 955 North Adams Street in Papillion, according to Brian Thomas, a real estate broker at NAI NP Dodge. The original location is at 5410 South 99th Street.

Scoular has been selected as a 2023 “US Best Managed Company” sponsored by Deloitte Private and the Wall Street Journal. the program recognizes outstanding U.S. private companies and the achievements of their management teams.

Buildertrend has been certified by Great Place to Work, “a global authority on workplace culture, employee experience, and leadership behaviors proven to deliver market-leading revenue, employee retention and increased innovation.” It was the first time Buildertrend had applied for this national recognition.

The Consumer Price Index rose 4.9 percent in April from a year earlier, according to the Wall Street Journal. That’s down from March’s 5.0 percent increase. Inflation’s recent peak was 9.1 percent last June.

Omaha Joint Electrical Apprenticeship & Training Committee will graduate its largest class yet – 93 newly trained electricians this week including their first student from the Omaha Public Schools Career Center. This nationally-renowned program offers award-winning curriculum and hands-on learning opportunities, providing students with a chance to earn as they learn to embark on an electrical career.

With Omaha’s growth, the need for skilled electricians is ever-increasing. Graduates have various career paths, including residential wireman, inside wireman, and low-voltage field electrician. Graduates can expect high-tech jobs, averaging $75,000 to $100,000 annually, 100% funded health insurance for their entire family and a 100% funded retirement pension.

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LEADERSHIP & MANAGEMENT

Leadership Tip – When you have a meeting scheduled with your boss or a major client, it’s very unlikely that you would show up late. Are you equally punctual when meeting with your direct reports? Most people are not. If you want to build trust and loyalty with your staff members, show up on time for their meetings and try really hard not to reschedule or cancel those meetings last minute.

One way to improve employer-employee and business-customer relationships is by using empathetic communication, according to The Hustle. It’s the ability to understand and share the feelings of another person. Empathetic communication can strengthen relationships, foster trust and ultimately increase your success.

The Small Business Optimism Index fell last month to 89, its lowest level in over a decade. Labor shortages and inflation were the top challenges cited by small business owners.

Nearly 70 million new jobs will be created worldwide, and 83 million will be eliminated by 2027, predicts the World Economic Forum’s 2023 Future of Jobs report.

SALES

Since the pandemic, customers are more likely to be focused on just one or two key priorities, says sales author Mark Hunter. “You’ve got to identify that most critical need they have and focus on that. When they say something to you, come back and ask them a question about it. Ask them another question. Flush that out as much as possible and leverage the information you gain.”

Approximately 80 percent of sales require five follow-up calls after the meeting, according to Spotio.

Sales metrics are important for setting your targets, and are vital pieces of information for both sales reps and sales managers, according to sales guru Anthony Iannarino. Some metrics you should look at consistently are pipeline velocity, conversion rates, customer acquisition cost, and customer lifetime value.

WISDOM

“The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it.” – Michelangelo

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Lamb Cuddles & Open Farm from May 3rd to July 3rd: Every Wednesday through Thursday, from May 3rd to July 3rd, Doe’s & Diva’s Dairy is inviting you out to cuddle some baby lambs! It’s officially lambing season, and Doe’s and Diva’s Dairy will be full of adorable little fluff balls looking for some love and attention. This event is open to all ages and is free to attend! Come on out to enjoy the fresh air, explore the farmstand shop with handmade products, and cuddle up to the lambs!

2023 TOAST Nebraska: Spring on May 12th and 13th: Get ready to savor the taste of Nebraska’s finest wines at the largest gathering of wineries in the state! Spring TOAST is back, and it’s bigger and better than ever before, featuring unlimited tastings at more than 15 participating wineries. Happening on May 12th and 13th at Stinson Park in Aksarben Village, it’s a weekend of wine, food, music, and fun! General admission tickets include a tasting glass, a wine tote and free tastings from some of the best wineries in Nebraska. In addition to that, there will be artisan and food vendors, educational sessions, music and dancing. Don’t miss out on this incredible event – get your tickets today and raise a glass to the ultimate wine experience!

The Wizard of Oz on May 13th & 14th: Get ready to be transported to the enchanting world of Oz as choreographer Erin Alarcón brings to life the beloved story in an extraordinary full-length story ballet. This smash-hit production is back by popular demand and promises to leave you spellbound with its imaginative choreography and captivating storytelling. Alarcón’s unique interpretation of the classic tale introduces us to the iconic characters in ways we have never seen before, from Dorothy’s unwavering bravery to the Scarecrow’s comical antics. With a fusion of classical ballet and large-scale musical theater, this fast-paced and entertaining spectacle will have you on the edge of your seat from start to finish. Dance down the Yellow Brick Road and witness the magic of Oz come to life like never before at the Orpheum Theater May 13th and 14th!

Wednesday Night Workouts from May 17th to July 26th: Get ready to sweat it out at Turner Park in Midtown Crossing with the Wednesday Night Workout Series! This free and open-to-the-public event, sponsored by Methodist Health System, is the perfect way to break up your week with a high-energy outdoor workout. Led by licensed instructors from Genesis Health Clubs, each week offers a new and exciting workout type, including popular favorites like Zumba, Pound, Mixxed Fit, and Group Fight. With a variety of workout styles to choose from, there’s something for everyone to enjoy!

Bootstrapping to App of The Day with Craig Nashleanas on May 18th: If you’re interested in entrepreneurship and tech innovation, you won’t want to miss this exciting event featuring Craig Nashleanas, the CEO of Lens Distortions. Join others as he shares his inspiring story of how he bootstrapped a successful app in a crowded marketplace while operating out of Omaha. Nashleanas’ extensive experience in video production, design, and software development led him to co-found Lens Distortions, a revolutionary platform for pro video editors and content creators. Discover the secrets of his success and learn how to turn your passion into a profitable business in today’s ever-evolving tech landscape!

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

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Heather Smith has been named the eighth president of College of Saint Mary, succeeding Dr. Maryanne Stevens, who is retiring after 27 years of leading the private women’s institution. Smith will take office July 1st. She was most recently an executive at Children’s Hospital & Medical Center. She holds a Master of Business Administration degree from the University of Nebraska at Omaha, a Bachelor of Science in Nursing degree from Creighton University and a Bachelor of Science degree in Biology from Vanderbilt University.

Uniti Med has promoted Chris Sund to president & COO. He had been serving as COO since January of 2022. Prior to joining Uniti Med, Sund was with Fusion Medical Staffing. Omaha-based Uniti Med is a medical staffing company founded in 2021 with more than 100 corporate employees.

Anthony Klaumann of HDR has been honored as one of Railway Track and Structures’ “10 Under 40” for 2023. He was recognized for his contributions to the rail industry, including working with industry organizations, as well as community service and leadership. Klaumann leads HDR’s freight rail work in Nebraska and Iowa.

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.

Mr. Market continues his imitation of a drunken sailor on shore leave. Recent days have presented him with a plethora of data points. These range the gamut from the Fed chair’s yammering about the economy to earning releases from a gaggle of-big cap tech companies.

There’s enough craziness going on to keep the talking heads on CNBC busy for a month of Sundays.

The whip-ass take-away from all of this is that “everything that happened was expected to happen.” Everybody knew that the Fed was going to raise interest rates 25 basis points. and the earnings results for the big-cap text stocks (that are the market drivers) were all close to analysts’ predictions.

The 90-pound gorilla in the room, which was foisted on investors by the financial media, was the so-called banking crisis. We had a couple of regional bank failures. One – which was taken take over by my cousin’s bank, JP Morgan – was touted by the media as one of the biggest ever. However, if you adjust for inflation, it doesn’t even qualify as a pop stand. It’s nothing compared to the 1903 bank crisis, which by the way, was also handled by my cousin JP.

As the story progressed, we saw the regional bank stocks decline by as much as

50%, and a couple of them close to 99%. When you peel back the onion, what you’ll find going on is bunch of hedge funds shorting these stocks. Translation: hedge funds are selling stock nobody wants to buy, so the prices get slammed. The flipside is, at some point the short sellers are going to have to buy the stocks back, and when they do, we will see a price explosion to the upside.

What is really going on here is not a solvency issue of the banks but rather a liquidity issue. The banks are not about to collapse; they are just scrambling to come up with cash. When the Fed raised interest rates, the banks increased their loan rates, while keeping their deposit rates at the old, close-to-zero position. As a result, the regional banks have seen depositors move their money into money market funds seeking higher yields, forcing the banks to sell assets in order to come up with cash.

My educated guess is that the next few weeks will see Mr. Market stumble around from one non-event to another. The earnings releases that count are now out of the bag, and the few that remain are inconsequential.

During that annual Berkshire “Woodstock of Capitalism” event, Buffett proclaimed an end to the banking crisis that never was. Now Cramer and company need to invent to next topic that will lead to our economic demise.

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The Grow Omaha radio show broadcasts live every Saturday morning at 9:00, but now you can watch videos of each episode instead of just listening.

Grow Omaha’s brand-new website features video footage shot inside the radio studio during each week’s show!

Videos include News of the Week, Lightning Round, guest interviews, and “Grow Omaha Uncut,” a behind-the-scenes look at what happens during commercial breaks.

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