FRIDAY, APRIL 27, 2018  |  IN THIS ISSUE  

Peter Van den Abeele, head of off-road, Nick Kaeding of Think Iowa City and John Meehan, Jingle Cross race promoter, pose with the Best Cyclo-cross UCI World Cup award. CREDIT THINK IOWA CITY 
Iowa City's Jingle Cross race has been named the Best Cyclo-cross UCI World Cup event of the 2017-18 season by the Union Cycliste Internationale (UCI), the sport's governing body.

In being named the top event of the global series, Jingle Cross beat out nine other cyclo-cross races. It is only the second event outside of Europe to be honored with the award.

"It is an incredible honor for Jingle Cross to be named the Best Cyclo-cross UCI World Cup," John Meehan, promoter and race director, said in a statement. "This award speaks to the dedication of Jingle Cross staff, volunteers, sponsors and the great people of Iowa City and Johnson County. Their hard work and love of cycling over the past 15 years has enabled Jingle Cross to grow into one of the premier cycling events in the world. We can't wait until September and the opportunity to again bring world-class cyclo-cross to North America."

The 2018 edition will be held Sept. 28-30, at the Johnson County Fairgrounds. Jingle Cross will be the second stop in the Telenet UCI Cyclo-cross World Cup, following the opening round in Waterloo, Wisconsin. Known for its challenging course, fun atmosphere, amateur racing and local hospitality, organizers say Jingle Cross will again aim to be the highlight of the World Cup season.

"Jingle Cross and the UCI World Cup perfectly embodies the high energy, fun and supporting culture of Iowa City," said Geoff Fruin, city manager of Iowa City. "It has been an honor to welcome the world's best athletes to our community, and we love celebrating and showcasing the sport to the world. Being recognized as the premiere Cyclo-cross event in the world is a humbling honor that we accept with great pride. We look forward to continuing to raise the bar for the sport with each future Jingle Cross that we host."

In addition to the World Cup event, the three-day Jingle Cross features a full schedule of amateur races, a gravel ride, product expo, local vendors and family-friendly activities.  All proceeds from the races benefit the University of Iowa Stead Family Children's Hospital.
 
Rockwell Collins today reported strong second quarter earnings growth in what's expected to be its final earnings report as an independent company before its acquisition by United Technologies Corp.

The aerospace and defense electronics company reported earnings of $1.43 per share compared to $1.27 per share in the prior year's second quarter. Sales were up 5 percent organically, or 62 percent when including $776 million of revenue from its recent acquisition of B/E Aerospace, to $2.18 billion.

Sales from the company's Commercial Systems segment, which supplies airlines, aircraft manufacturers and the general aviation market, were up 8 percent. Government Systems, which sells defense products, reported a 16 percent jump. Information Management Systems reported a 1 percent sales decline, while Interior Systems (the former B/E Aerospace) reported 9 percent higher sales on a pro-forma basis.

"Our strong performance in the first half of 2018 is underscored by another quarter of robust revenue and earnings growth," Rockwell Collins Chairman, President and CEO Kelly Ortberg stated in a press release. "Our plan for the year is playing out as we expected, with commercial aftermarket strength, higher business jet utilization, and an improved defense budget environment driving our growth and more than offsetting the anticipated completion of nuclear security mandate-related sales in our Information Management Services business."
 
Rockwell Collins' acquisition by United Technologies is expected to close this summer pending regulatory approvals. Citing the pending merger, Rockwell Collins officials skipped the customary quarterly conference call with Wall Street analysts.
Story4CBJ Report on CBS2/FOX 28: Bio-tests and a new ethanol market 
 

In this week's CBJ Report on CBS2/FOX 28, reporter Katharine Carlon discusses new tests developed by Coralville-based  Behavioral Diagnostics that better determine alcohol and tobacco use, good news for Iowa farmers with Japan agreeing to open its markets to corn-based ethanol products and a new Principal Financial study showing it isn't income that prevents people from saving - it's confidence and financial literacy. Watch the full report here.
 
MidWestOne Financial Group, the parent company of MidWestOne Bank, reported first-quarter earnings of $7.8 million, a 16.1 percent improvement from year-earlier results, as a lower tax rate combined with loan and deposit growth to boost profits.
 
Iowa City-based MidWestOne Financial Group reported earnings of 64 cents per share, up from 58 percent in the previous year's quarter, as net interest income rose 4.9 percent and income tax expense declined by 21.6 percent due to the reduction in the corporate federal income tax rate.

MidWestOne beefed up its provision for loan losses by $800,000, or 77.7 percent, due primarily to loan growth in the quarter of $39.5 million and indications of weakness in the agricultural sector.

"We are off to a good start in 2018 with expansion of the quarterly net interest income, benefit of a lower effective federal income tax rate, and with solid loan and deposit growth," President and CEO Charles Funk stated in a release. "Balance sheet growth and top-line revenue growth were solid in the first quarter, and we see encouraging signs of improving asset quality ahead."
Story5Deadline approaching for CR Downtown Farmers' Market
   
Monday is the deadline for downtown businesses to get their requests in for storefront space at this summer's Downtown Farmers' Market in Cedar Rapids.

The farmer's market, presented by Cedar Rapids Bank & Trust, is set to begin earlier this year, with the first market scheduled for May 26. The markets will continue through Sept. 1.

Organizers said vendors will be selected by a volunteer events committee, which "puts their heads together to create the best experience possible for market-goers."

The weekly event, produced by the Cedar Rapids Metro Economic Alliance, averages 14,000 patrons per market and features nearly 200 local Iowa vendors offering an array of products from fresh produce and flowers to meats and artisan gifts.

Those interested in securing downtown storefront space can read the 2018 vendor handbook to review their options. Requests should be sent to Jenn Draper at [email protected] and are due no later than April 30.
EventHeadlinesShort-Term Event Planner
 
April 27
Hawkeye Innovation Expo, by UI John Pappajohn Entreprenurial Center, 10:45 a.m.-4 p.m., Iowa Memorial Union, 125 N. Madison St., Iowa City. This event is a celebration of all things innovation happening at the University of Iowa. Events will include Venture School final pitches, SparkTalks, and a discussion with Mark Kauffman, the founder of Athletico. Free. For more information visit iowajpec.org/hawkexpo.
 
Future Fridays , by Iowa City Area Chamber of Commerce, 4-5 p.m., MERGE, 136 S. Dubuque St., Iowa City. Dr. Daniel McGehee will facilitate a conversation around autonomous vehicles. Free. For more information, visit bit.ly/2Gn8gIi.
 
April 30
Coralville Roundtable , by Iowa City Area Chamber of Commerce, noon-1 p.m., Cheddar's, 2824 Commerce Drive, Coralville. Roundtables are social lunches over the noon hour. All are invited to network and keep up-to-date with chamber and community events. Free for members. Call the chamber at (319) 337-9637 if interested and not a member.
 
May 2
1 Million Cups , by 1MC, 9-10 a.m., Geonetric, 415 12th Ave. SE, Cedar Rapids and MERGE, 136 S. Dubuque St., Iowa City. Join for community connections, startup pitches and free coffee. Free. For more information, visit facebook.com/1MCICR.
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Headlines from CBS2/FOX 28
These news items are provided by CBS2/FOX 28  
 
A construction project that began this week is forcing Cedar Rapids drivers to wait longer and downtown workers to take more time to find a parking spot or get to work. Pavement improvements began on Second Ave SE from First Street to Eighth Street and will not be complete for at least another two weeks. Construction crews are rotating from the north side to the south side to leave one lane of traffic open at all times. The city of Cedar Rapids is creating more two lane roads downtown to make the area more accessible and safer. "This project will complete Second Ave SE and convert it to two-way traffic," City Engineer Nate Kampman said. "When we do get a complete network downtown of two-way streets, it will just increase the accessibility of all users down there." While roadwork will create easier driving downtown for residents, right now many downtown workers and business owners are concerned about longer commutes or simply not being able to find a parking spot. "It's just been difficult getting to work on time. No matter what street you go down there is always construction, it changes everyday so you can't even plan for it. Some of us have parking spots in the ramps but getting to them has been hard with all the construction," said J.R. Garcia, who works downtown.

Cedar Rapids police are investigating a shooting in a southeast neighborhood Thursday night. Officers said two people were shot near 15th Street SE and Fifth Avenue SE just before 8 p.m. and were taken to the hospital with non-life threatening injuries. Investigators believe the shooting happened outside in the 400 block of 15th Street SE.

T hese news items are provided by CBS2/FOX 28 
CBS2 Chief Meteorologist Terry Swails' Weather First Forecast

The warm and beautiful weather keeps on going into the weekend. There will be plenty of sunshine today and temperatures will climb quickly into the upper 60s to low 70s. A cold front will be passing through in the afternoon and will lead to a few clouds along with a strong westerly breeze. The strong wind combined with the dry air and dry fields will lead to an increased risk of fire today.  It will be cooler in the wake of that front with temperatures dropping into the low to mid 30s tonight. Saturday afternoon will be cooler, too, with temperatures in the upper 50s to low 60s. There will be plenty of sunshine and light winds, so it will feel nice. Warm air moves right back in on Sunday with temperatures in the 70s under sunshine. It will be even warmer Monday with temperatures getting close to 80 degrees for the first time this year.