Weekly Market Report – September 12, 2024

Nicole Buntgen, Contributing Writer

Hawaiian Bros Island Grill has signed a lease to move into the former Boston Market building at 704 North 114th Street in Miracle Hills. Perkins-Critser Construction will start working on the renovations soon. Hawaiian Bros’ first Nebraska location is near Interstate 80 & Highway 370 in Gretna.

Cinnaholic Gourmet Cinnamon Rolls will open its first Nebraska location September 20th at 11922 Standing Stone Drive in Gretna. The Atlanta-based chain has more than 100 locations in the United States and Canada. The local owners are Susan Canda and Brian Lapour. Each Cinnaholic roll is 100-percent plant-based and free of dairy, lactose, eggs or cholesterol.

The Cake Gallery, a popular bakery known for its “ULTRAmoist” cakes, has relocated to a temporary space at 12100 West Center Road, Suite 605, in Bel Air Plaza. That’s near 120th & West Center Road and near the future Izzy’s Pizza and Prehistoric Putt. The bakery had to move after spending 57 years at its former location in Westgate Plaza. While rebuilding a new cake boutique in the same Plaza, The Cake Gallery is still in operation, offering a limited menu.

Ital Vital Living, a vegan smoothie and juice shop in north Omaha, will open a second location this fall near 76th & Cass Street. In addition to cold-pressed beverages, the shop also offers wraps, sandwiches, and salads. Ital Vital is currently hiring for a full-time manager at its new location.

Something new (and old) is coming soon to Blackstone District. The Lion’s Den will open next to Red Lion Lounge later this month, according to Blackstone’s Facebook. Red Lion’s website describes the space like “your grandparents’ basement, replete with eclectic decor and vintage treasures, transformed into a cozy retreat.”

Artisan Boards of Omaha, a local charcuterie caterer, announced plans for a storefront at 16920 Wright Plaza Suite 116 in the Shops of Legacy near Baby Blue Sushi Sake Grill. Tentative opening date is set for mid-November. The family-owned business specializes in handcrafted charcuterie and will expand to same-day orders, wine bottles, and in-house charcuterie classes.

Westroads Mall has welcomed back Rue21, a teen apparel retailer that went out of business earlier this year. YM, Inc., has acquired the brand and plans to reopen 101 of the 540 stores, which included the Westroads location.

Big Lots, a chain discount retailer, has filed for bankruptcy after nearly 60 years in business. The company is closing about 300 of its 1,400 stores nationwide, according to KETV. Big Lots has Nebraska locations in Omaha, Fremont, and Lincoln.

Read this before you go out! Grow Omaha has partnered with local marketing expert Cam Vacek to bring a very useful restaurant resource to our readers. Before you go out, check our lists Daily Restaurant Specials, Happy Hours, Party Rooms and local Coffee Shops. We even have a list of birthday party ideas!

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!

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‘Ruhlman’s Steakhouse’ Began as an Impossible Dream

Ruhlman’s Steakhouse is the realization of owner Phil Ruhlman’s lifelong dream. He had always wanted to own a steakhouse but thought it would be impossible. Ruhlman paid his way through college bartending at Misty’s Steakhouse and Lounge in Lincoln and graduated with a theater degree.

He would go on to run a chain of video stores in the 1980’s for 11 years for the Seacrest family in Lincoln where they were strong competition for Blockbuster Video. From there, he worked for Gallup as a hiring manager and became their very first Chief Information Officer.

Flash forward to just over a year ago, Ruhlman cashed out his Gallup stock and came to realize that maybe this steakhouse dream wasn’t so far-fetched after all.

“I knew that going into the restaurant business for the very first time was very, very high risk,” Ruhlman said. “So, I reached out to a friend and said, ‘I’ve met Willie Theisen several times, but he doesn’t really know who I am. Would you make an introduction?

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Round-Up of Downtown Apartment Projects

Grow Omaha regularly tracks downtown/urban core apartment projects. Here are five of the most recent additions:

15th & Marcy

Urban Village is constructing a multi-family project at 1508 Marcy Street. This infill project will be an attractive, 5-level building with 82 apartment units and indoor parking on a previously under-utilized – and generally unnoticed – 35,000 sq. ft. lot on the southern fringe of downtown. Construction has now reached the second floor.

Jefferson Place

A 4-story residential building is planned for 2226 Howard Street downtown. Workers demolished a single-family house on the site earlier this year. The developer plans to build a 40,000 sq. ft. building with 34 units and 12 parking spaces. The zoning would be CBD-Central Business District which is exempt from off-street parking regulations. The property, known as Jefferson Place, is across the street from The Howard, a recently completed 120-unit, 6-story apartment building, completed by Arch Icon and NuStyle Development.

Millwork Commons

Developers plan to build The Frame, a $44 million multifamily apartment building northwest of 13th & Nicholas Street in Millwork Commons. Plans call for a 5-story, 146-unit building consisting of 55 2-bedroom units and 94 1-bedroom units. The ground floor will have a single 10,000 sq. ft. retail bay and 65 covered parking stalls. The building will also have two large decks on the second-floor roof.

1501 Howard Street

Clarity Development Company will renovate a 3-story historic building at 1501 Howard Street. The building is south of the Orpheum Theatre and west of the police headquarters. The developer plans to convert the building into Low Income Housing Tax Credit multifamily housing. When complete, the building will have 16 studio and 1-bedroom apartments on the second and third floors, retail space on the first floor and 16 parking spaces in the basement.

The Standard

Clarity Development Company plans another Low Income Housing Tax Credit building not far from the project above. The building known as the Standard at 500 South 18th Street will consist of 40 studio and 1-bedroom apartments on floors two through six plus commercial space on the ground level. This building was going to be part of a much larger project that would have added new-construction apartments on a surface parking lot. It doesn’t appear that the Standard is part of that project, at least for now.

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Isaiah Ang, Contributing Writer

Two buildings demolished on 72nd Street – The Runza restaurant building (originally a Bronco’s) at 965 South 72nd Street is being torn down. Runza plans to rebuild at the site. Further north, a small building at 333 South 72nd Street has been demolished. It had been vacant in recent years but was previously a used-car dealership. Many years ago, it was an Arby’s restaurant.

For the 24th straight year, enrollment at the University of Nebraska Medical Center increased. The fall enrollment figure is 4,703 students, a 3.2 percent rise from last fall. The increase was driven by enrollment increases in graduate studies, pharmacy, allied health professions and nursing. More than 75 percent of the students are Nebraska residents.

Council Bluffs has selected Turn the Paige Homes as the builder for the East Manawa East Phase 1 project. Last year, the city purchased 93.17 acres on the east side of Lake Manawa, bounded by East Manawa Drive and extending north to Veterans Memorial Highway. The overall plan incorporates mixed uses and may include up to 900 new residential units. Phase 1 will consist of 40 single-family units. The city previously partnered with Turn the Paige Homes in the Hillside Estates project, a mixed-income, residential project that included 27 for-sale units consisting of townhomes and single-family houses.

The City of Council Bluffs has been designated as one of Iowa’s 2025 Thriving Communities, a recognition awarded by the Iowa Finance Authority and Iowa Economic Development Authority. Council Bluffs is one of six communities in Iowa, alongside Des Moines, Fort Dodge, Mason City, Newton and Waterloo, to receive this honor for “its commitment to creating affordable housing opportunities for residents at all income levels.”

A new study by Credit Secrets ranks Nebraska as the most financially literate state in the country, according to Nebraska Examiner. Using data from institutions including the U.S. Bureau of Economic Analysis and the Federal Deposit Insurance Corp., the analysis used nine metrics across two areas: education and economic habits. The study also weighted financial stability and challenges. Following #1 Nebraska, the rest of the top five states were Minnesota, Virginia, Vermont and Oregon. The worst states were Alaska, California and Hawaii.

The Council Bluffs City Council approved resolutions in connection to the River’s Edge development, specifically a long undeveloped parcel of land behind the River’s Edge Pavilion known as Lot 1. The city council approved the issuance of request for proposals to purchase and develop the 1.72 acre parcel. Previously, a developer had plans for a twin tower condominium concept, similar to the Riverfront Plaza towers on the Omaha side of the river.

When that did not materialize last year, the city accepted an RFP from a local developer that included plans for a 7-story apartment building with approximately 200 units. That plan has also apparently fallen through, although other lots involved in that RFP review are now under construction for additional apartment housing units.

The city and Iowa West Foundation had been holding off for a project with a minimum valuation of $32 million to help pay for the cost of the nearby parking garage. However, this time around, there will be more flexibility in the minimum valuation, but they are anticipating at least $20 million once the project is completed. RFPs are due on October 25th and will be presented to the city council at the November 18th meeting.

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Peterbilt of Omaha is building a truck sales and service center at 11502 Wickersham Boulevard in Gretna. That’s on an Interstate 80 frontage road next to an existing Wal-Mart store. That frontage road is being extended southwest to 168th Street.

Berkshire Hathaway continues to reduce its position in Bank of America, according to Yahoo Finance. Warren Buffett’s holding company has offloaded Bank of America stock over the course of multiple trading sessions, with Berkshire Hathaway’s stake in the bank now standing at approximately 11 percent.

Sol Systems has expanded its clean energy portfolio by acquiring over 2 gigawatts of utility-scale hybrid solar and storage projects across the Midwest. This strategic collaboration with Omaha-based Tenaska solidifies Sol’s commitment to driving sustainable energy solutions for its customers. The portfolio spans multiple Midwestern states. The projects, each exceeding 100 megawatts, are slated for operations between 2028 and 2029. Tenaska will continue collaborating with Washington, D.C.-based Sol on the development of these projects through the construction phase, after which Sol plans to build, own, and operate them.

Omaha-based Scoular has completed a $20 million expansion of its feed blending facility in Jerome, Idaho, providing another local option for dairy and beef producers seeking high-quality steamflaked and calf grains. The expansion adds a 120-feet high concrete feed mill, boosting the facility’s production capacity by 35 percent. The expansion also delivers a 40 percent increase in storage capacity.

Vivid Plastic Surgery has found a home at 1802 North 169th Plaza, according to Chris Falcone of NAI NP Dodge who represented the seller of this 1,536 sq. ft. office condo. this office sale.

America’s wild, multi-year shopping spree has come to an end — and retailers who got used to consumers dropping cash on just about everything are in a tough spot, according to Business Insider. Seventy-six percent of US consumers said they expected to “trade down” over the third quarter, which includes things like delaying purchases, searching for discounts, or opting for a buy-now-pay-later plan at checkout.

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LEADERSHIP & MANAGEMENT

Despite founding one of the world’s biggest tech companies, Jeff Bezos does not peek at his phone upon waking up each morning, according to The Hustle. He starts his day in a rather old-fashioned way – coffee, conversation, family time and by reading the newspaper he owns.

What’s one of the biggest reasons why some leaders don’t accomplish their goals? Tracking! It’s the magic ingredient that makes the goal-setting process so powerful. If you write your annual goals and then don’t keep looking at them, you’re wasting the power of goal setting. Check your progress vis-à-vis your goals each month. Put a reminder on your calendar.

Job losses at U.S.-based employers spiked in August to a five-month high of just over 75,000 cut positions for the month, a signal of economic uncertainty and a softening labor market, according to Forbes. The number of job cuts in August was a 193% jump from those announced in July, and the highest single-month level since March. With the exclusion of 2020, last month was the August with the most job cuts since August of 2009.

SALES

Too many salespeople focus on their outcomes instead of those of their prospect. Stakeholders don’t meet with you to help you hit your quota. They are there to solve their own problems, says sales author Jeb Blount: “When discovery conversations are all about you – transactional rather than relational – it kills opportunities. Stakeholders don’t want to waste any additional time answering your self-serving, leading questions. There is no value for them, so they ghost you and move on.”

The more you try to develop a relationship without first creating value for your prospects, the more you project yourself as a timewaster, according to sales author Anthony Iannarino. Today, rapport-building is a business conversation, with the rapport coming after conducting a conversation that creates value for your prospects. Too much time spent on rapport building is “an anti-value creation.”

WISDOM

“Anyone can hold the helm when the sea is calm.” – Publilius Syrus

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Did you know Omaha has more Fortune 500 headquarters than many other regional cities, including Kansas City (2), Oklahoma City (3), Tulsa (3), Des Moines, Iowa (1) and Salt Lake City (0)? Source: Greater Omaha Chamber

Did you know that with the addition of daily non-stop flights to Philadelphia returning next year, Omaha’s Eppley Airport will have non-stops to 32 airports?

Did you know Omaha once had a German-language newspaper? It was called The Daily Tribune. Publisher Val Peter (1875-1960) was born in Germany but immigrated to America. During World War II, he supported the United States and tried to help refugees escaping from Germany. Source: Historian Howard Hamilton.

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Conagra Brands Foundation Awards 5 Local Nonprofits Grants for Hunger Action Month
The Conagra Brands Foundation has awarded $350,000 in one-year grants to 20 nonprofits across 10 states as part of its 2024 “Nourish Our Community” initiative. Local nonprofits receiving grants include Aging With Spirit Foundation, City Sprouts, Completely Kids, Justice For Our Neighbors Nebraska, and Omaha ForUs. The grants, awarded during Hunger Action Month, support efforts to combat food insecurity and promote healthy living, strengthening Conagra’s commitment to local impact and its partnership with Feeding America.

Big Brothers Big Sisters of the Midlands Named Mid-Large Agency of the Year
Big Brothers Big Sisters of the Midlands (BBBSM) has been honored as the 2023 Mid-Large Agency of the Year at the Big Brothers Big Sisters of America National Conference. The award recognizes BBBSM’s excellence in program growth, youth outcomes, and financial success. Key achievements include launching the Big Futures program, expanding MentorU, and exceeding revenue goals. President and CEO Nichole Turgeon praised the team’s dedication to empowering youth through mentoring.

Urgent Call for Blood Donations as National Shortage Worsens
The American Red Cross is facing a critical blood shortage, with the national supply down more than 25 percent since July 1. This shortage puts lives at risk, as patients in need of transfusions may face dangerous delays. Blood and blood products cannot be manufactured—it comes only from generous donors. Blood shortages leave doctors with no acceptable options, the only solution is more blood donors. Metro hospitals request type O blood the most. While the Red Cross needs donors of all blood types, type O is especially needed right now. Appointments for donations, as well as volunteer opportunities may be found online at the Red Cross.

Quasar Drive-In Hosts “Classics with a Cause” to Benefit Visiting Nurse Association
On September 19th, Quasar Drive-In will feature Happy Gilmore for its “Classics with a Cause” series, with all proceeds benefiting the Visiting Nurse Association (VNA). This weekly event partners with local nonprofits to raise awareness and funds. The event is free-will donation based, with 100 percent of the contributions going directly to VNA. Each Thursday features a different movie and nonprofit.

SHARE Omaha Highlights Mental Health for #GivingEveryTuesday
Each Tuesday, SHARE Omaha features a unique cause theme for #GivingEveryTuesday. This week’s theme is mental health. Discover organizations supporting local mental health and find ways to make an impact. While monetary donations are always needed and appreciated, there is also a need for specific items. You can donate pizza gift cards to Project Harmony and NAMI Omaha, sweet and salty snacks to The Collective for Hope, or Lifesavers to the American Foundation for Suicide Prevention. Visit SHARE Omaha to see how you can help.

Late Nights at The Zoo: Crocktoberfest (21+) on September 12th, 19th, and 26th: Join others every Thursday in September at Omaha’s Henry Doorly Zoo & Aquarium for an unforgettable celebration of their beloved crocodilian species, blended with the festive spirit of Oktoberfest! 21+ only. Along with food and beverage offerings, guests will immerse themselves in the fascinating world of crocodiles and alligators through captivating exhibits, interactive experiences and educational talks. Plus, guests won’t want to miss out on their special activities including live music and performances!

Sleeping Bag Safari – 21+ Grown Up Safari on September 13th, 21st, 28th, and October 4th: Join in on 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 picnic dinner and drinks, an evening hike, movie, snacks, “grab-n-go” breakfast, morning hike and free day at the Zoo. This overnight is for guests 21 years old and over only. Single campers pay a minimum two-person tent price. There is a maximum two-person occupancy per tent.

Needle Felting: Pumpkin on September 14th: Join Rhonda Berman of Zipply Art to create an art piece adding a new twist to needle felting. In this class, participants will create a pumpkin. An outline design is made when a zipper is sewn onto wool felt. Wool roving is added using the technique of needle felting. Then the piece is adorned with embellishments as desired. Students will learn also how to prepare a zipper, apply a pattern, embellishment tips and finishing options. Pre-registration is required!

Little Bohemia Walking Tour on September 14th: This tour explores the people, the history and the buildings of Omaha’s Little Bohemia. The 1880’s brought an influx of Czech immigrants who made Omaha their home. On the south side of the city, a piece of their homeland seemed to have been transplanted into America’s heartland. The scent of authentic cooking, folks dressed in traditional Czech styles, and open conversation in the Slavic language were once common. Register now and uncover the past of Omaha’s Little Bohemia!

Creighton Women’s Soccer vs. Kansas City on September 15th: Let the festivities begin as Creighton Women’s Soccer is set to celebrate its seniors on Senior Day against Kansas City! Join others at Morrison Stadium for a fun-filled day of soccer and celebrations for the student-athletes that have done so much for the program! The first 100 fans in attendance will receive a FREE limited-edition Women’s Soccer Senior Poster!

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Scoular announced that Jordan Barry has been promoted to the newly created role of General Manager in its Renewables & Oilseeds Division. Barry will lead the company’s Oilseed Crush and Sunflower, Flax, and Bird Food businesses while continuing to oversee a portion of the International Feed business.

Hancock/Dana, an Omaha-based accounting firm, has announced five promotions: Stephanie Lindburg, director; Cecilia London, manager; Trey Rongisch III, manager; Phil McHenry, manager; and Ethan Boes, manager.

Baird Holm Partner Morgan Kreiser who has been elected to The Fellows of the American Bar Foundation. Membership is limited to one percent of lawyers licensed to practice in each state.

Schemmer, an Omaha-based architecture, engineering and construction field-services company, announced that Elena Hoff, Tyler Lerdahl and Lona Smart, have exercised stock offer options to become shareholders of the firm. Schemmer also named Tyler Schmidt as an Associate.

Ronco Construction of Omaha has added Stephanie Yeager as industry engagement manager and Ashley Postlewait as business development director.

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.

Well, boys and girls, Mr. Market was enjoying a peaceful end to summer, but for some strange reason he came back from the from the Labor Day weekend in an extremely foul mood.

Prior to the beginning of what is historically the market’s worst month, the constant blabbering from the CNBC talking heads was, “Glory, halleluiah, the Fed is finally going to pull the trigger and start lowering interest rates.”

Then, during the Labor Day break, the financial media was filled with a plethora of stories that investors were concerned about the jobs report that was set to be released on Friday. Major question; how many investors did the financial media speak to, and who are those guys???

Then late Monday – following no new news – the S&P futures stated sinking faster than the S.S. Minow on a three-hour tour. Come Tuesday morn, the major indexes opened down a whip-ass 3 percent. Then a blazing red banner flashed across THE CNBC screen blaring, “Investors Panic, Creating Major SELL OFF!”

Well, as usual, the thing that sends the financial media into a tizzy, is when Mr. Market goes through one of these neurotic tantrums, they gotta explain what happened. Their first explanation was that investors – who they probably didn’t talk to – decided that the yet-to-be-released jobs report was going to prove that the soft landing predicted by Wall Street’s Ouija board was melting faster than President Biden’s ice cream cone in July.

The financial media blubbering pundits aside, what really happened? Number one, the volume numbers were slightly below normal and remained fairly consistent throughout the trading day. In order to have been a genuine blow-em-up, sell-em-off event, volume needs to soar like the balloons released at Memorial Stadium. The volume numbers looked more like the fourth day of a 90-year-old’s birthday balloon.

On average, 80 percent of the daily trade activity comes from the high frequency trader guys. Who are these guys? There are privately held companies, loaded with computer geeks, most of them with fancy postgraduate degrees, not in finance, but in math and computer sciences. They program their computers to look for anomalies in prices listed on the 13 electronic exchanges. They buy on one exchange, then within a milli second, sell on another exchange for a minutely higher price.

The high-speed-trader guys start the day owning nothing, and they end the day owning nothing. But if the volume was slightly below normal, and 80 percent of all of the trades were made by high frequency traders, where the hell was the sell off?!!?

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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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