MONDAY, NOV. 27, 2017  |  IN THIS ISSUE  


J & P Cycles, founded in Anamosa, and its parent company have filed for bankruptcy reorganization. PHOTO: J & P Cycles 
J&P Cycles and its parent company have filed for bankruptcy reorganization in a move that is expected to make its largest creditors into owners.
 
The California-based parent company Motorsports Aftermarket Group (MAG) plans to eliminate about $300 million in debt through a debt-for-equity swap. Plans are outlined in a Chapter 11 bankruptcy filing in U.S. Bankruptcy Court for the District of Delaware this month. The new owners group will be led by Monomoy Capital Partners, BlueMountain Capital and Contrarian Partners.
 
Support for the plan has been indicated by more than 90 percent of the principal amount of MAG's first-lien secured lenders and asset-backed lenders, MAG said in a press release. Such bankruptcies, having advance support from the majority of secured creditors, are often referred to as prepackaged bankruptcies, and can usually receive court approval more quickly than contested bankruptcies. MAG said it expects to emerge from bankruptcy in the first quarter of 2018.
 
In a press release, MAG officials said the business will continue to operate unaffected and the company has sufficient liquidity to fund operations.  
 
"Customer services and sales will continue, employees will receive wages and benefits as before and vendors and suppliers will be paid in the ordinary course of business going forward," CEO Andrew Graves added.
 
MAG is a leading supplier of aftermarket parts and supplies to the powersports industry. The company said the United States powersports market has been in "persistent decline for the past few years. The company has been working to adjust to the changing landscape, but its persistent debt has been an impediment to success," MAG stated.
 
J&P, which was founded in Anamosa, announced in 2015 that all of its local operations except a retail store would be relocated out-of-state as part of a restructuring to make the company more competitive.

Lockheed Martin selected Rockwell Collins'  display systems for F-16 training programs in two countries. PHOTO: Rockwell Collins 
Rockwell Collins has been selected by Lockheed Martin to provide display systems for two international F-16 training program customers. The solutions include customized configurations of Rockwell Collins' Griffin rear-projection dome and SpectraView display systems.

"With only slight modifications to existing products, international customers will be able to provide pilots with modern, high-fidelity training that's tailored to their environment," said Nick Gibbs, vice president and general manager, of simulation and training in a statement. "Our readiness-without-boundaries approach to training solutions is highlighted in the flexibility of this product to meet unique F-16 training requirements."

The 360-degree Griffin rear-projection dome configuration will include an expanded ingress and egress system to accommodate the larger cockpit of an F-16 and capitalizes on projector capabilities for enhanced night vision goggle usage, offering a heightened sense of realism in nighttime training operations.

The tailored, front projection SpectraView solution will be the first of its kind to incorporate full night vision functionality while boasting a wide field of view, wrapping 300 degrees around the user, 120 degrees above and 40 degrees below. The system also uses industry commercial off-the-shelf projectors.
Story4Find a planning partner with the CBJ's Wealth Management Guide
 
In today's complex and volatile economic climate, understanding and deciding on the myriad investment options available can be tricky.   
 
Equity markets ride a roller coaster. Interest rates have been a no-goer. Real estate can be tricky and the tax climate continues to evolve.

The good news is that the Corridor is home to numerous wealth management advisors who can cut through the noise and help clients develop a plan for growing and protecting their hard-earned money, whether it's building a secure retirement fund or launching a small business.

To help our readers navigate the thorny issues involved with investment and retirement planning - from beating the current low-rate investment environment to making sure their money lasts through retirement - we've published a Wealth Management Guide full of tips from some of the region's premier wealth management partners. We invite readers to use this special section as a starting point and resource in planning their financial futures.

Voting is underway for the Corridor Business Journal's annual Most Influential Person award and we're asking readers to cast their votes now.

The award honors the person who has made the biggest mark on the Corridor this year, whether through their leadership, business accomplishments or philanthropic efforts. Last year's winner was Nancy Kasparek, the regional president of U.S. Bank; the 2015 winner was Mark Nolte, president of the Iowa City Area Development Group.

You can nominate up to five people from the Corridor area as part of this year's voting. We will tally the results, publish the final list and profile the winner in the Dec. 18 edition of the Corridor Business Journal.

Last year's complete list can be found in the CBJ's Most Influential issue, available to digital edition subscribers.

You can vote here. The deadline to vote is 5 p.m. on Dec. 1.
Story5Employees shopping on your time? Survey says yes
 
Most employees can't resist Cyber Monday deals, according to research from staffing firm Robert Half Technology.  
 
The study shows that 75 percent of employees use a company device to shop online during work hours , 41 percent spent an hour or more shopping last year and 23 percent plan to spend more time shopping this year.  
 
Nearly half of workers (46 percent) said they grab most of their Cyber Monday deals while on their breaks or at lunch, while others make purchases whenever they have a free moment during the day, keeping browser tabs readily open (29 percent). Twenty percent of the employees polled prefer to shop first thing in the morning.

Corporate online shopping policies may not be as clear as employers think. Forty-three percent of workers said their boss or company allows them to shop online during Cyber Monday, while almost a third admitted they didn't know their workplace policy. 
 
Among Des Moines-area companies, 59 percent said they allow access to shopping sites, but monitor for excessive use. About a quarter of Des Moines companies block access and 15 percent allow unrestricted access. Thirty-one percent of Des Moines-area workers admitted they didn't  know their company's workplace policy around online shopping.

"With all the added responsibilities around the holidays, it's understandable that employees may want to maximize any spare time during the work day to get additional things done," said John Reed, senior executive director for Robert Half Technology, in a release. "Make sure your company's Internet policies are clear and communicated broadly to your organization to avoid security issues or decreases in productivity."
EventHeadlinesShort-Term Event Planner

Nov. 29
1 Million Cups , by 1 Million Cups, 9-10 a.m., Geonetric, 415 12 th Ave. SE, Cedar Rapids. Join for community connections, startup pitches and free coffe e. Free. For more information, visit ow.ly/ugBr30dH83X .
 
Introduction to Innovation , by NewBoCo, 11:30 a.m.-1 p.m., Geonetric, 415 12th Ave. SE, Cedar Ra pids. If you are ready to make innovation more than just a goal for your organization, join NewBoCo for this lunch- and-learn exploring innovation strategy. Cost: $49, includes lun ch. For more information and to register, visit  bit.ly/2y17XxB.
 
Nov. 30
Planning for Success: Charitable Gift Strategy Seminar , by Simmons Perrine Moyer Bergman PLC, 7:30 a.m.-noon, Elmcrest Country Club, 1 Zach Johnson Drive NE, Cedar Rapids. This half-day seminar will explore recent developments in charita ble planning and successful planning strategies. Topics will include relevant law changes, available tax credits and real donor success stories. Free. For more inform ation or to register, visit  bit.ly/2ArN51a.   
 
Making Personnel Development a Priority , by Cedar Rapids Metro Economic Alliance, 8-9:15 a.m., Economic Alliance, 501 First St. SE, Cedar Rapids. Thi s program will bust myths around employee development, and provide ideas and strategies for how to create or refresh development initiatives in your organizations. Karen Sch umacher, co-owner of Crescendo Leadership Development, will lead this program which is part of Kirkwood Community College's Continuing Education and Training Services. Free. For more information or to register, visit  bit.ly/2yIUnfg.
 
Ribbon Cutting: Hilton Garden Inn , by Iowa City Area Chamber of Commerce, 4:30 p.m., Hilton Garden Inn, 328 S. Clinton St., Iowa City. Join the Chamber Ambassadors for this ribbon- cutting. Free.
News you can use

Forward the FREE CBJ Business Daily newsletter to your friends and colleagues, and share the feeling of being informed! Use our fast, one-minute subscription to the CBJ's newsletters here, or check out our other subscription options here.

See something we missed? Send tips, leads, corrections, etc. to news@corridorbusiness.com.
Headlines from CBS2/FOX 28
These news items are provided by CBS2/FOX 28  
 
On Dec. 14, the Federal Communications Commission will vote on a proposed plan to eliminate Net Neutrality - and Corridor experts in the tech sector say this is a big deal. "Net Neutrality is really what makes the internet the internet," says Aaron Warner, CEO of ProCircular Information Security. "It gives everyone equal access both in terms of putting their own information on the internet as well as getting to other people's information." The FCC proposal, "Restoring Internet Freedom" would roll back the Obama-era regulation. The proposal says eliminating the "utility-style regulation" will "promote future innovation and investment. And more investment in digital infrastructure will create jobs, increase competitionand lead to faster and cheaper Internet access for all Americans, especially those in rural and low-income areas." However, many fear the competition would be slanted in favor of big companies and internet providers. "If you happen to compete with one of the carriers, they may have the ability to slow down access to your site or give your competitors faster access when they have financial interest in seeing that happen," says Mr. Warner. Despite the potential business impact, former FCC Commissioner Nickolas Johnson is more concerned with the impact on people. "What if the telephone company or the Post Office had the power to decide who could communicate with you and who you could communicate with and what you could say and what they could say? We would be appalled that that was happening," he said. The full   FCC proposal is available online
 
T hese news items are provided by CBS2/FOX 28 
CBS2 Chief Meteorologist Terry Swails' Weather First Forecast

It's going to be another sunny and mild day across Eastern Iowa. Temperatures will be well above normal and climb into the low to mid-60s. Temperatures will be close to records, but the records will likely be safe today. It will be breezy with winds around 10 to 20 mph out of the south. This warmth is coming in ahead of a cold front that will move through the area Tuesday. Clouds will build ahead of the front later this evening and it will remain breezy overnight. Temperatures will be mild once again Tuesday, but not as warm as today. With partly sunny skies, temperatures will be in the low 50s. Some light rain or drizzle will be possible Tuesday as the front passes, but anything that develops will be brief.