FRIDAY, JAN. 19, 2018  |  IN THIS ISSUE  

Toyota of Cedar Rapids shown at night. CREDIT The Redmond Co. 
Cedar Rapids Toyota in Hiawatha this week gave all 100 of its employees a bonus of $500 or $100 as a way of sharing the benefits of the recently passed tax reform bill.
 
General Manager Chris Langhurst said the bonus idea was presented to him by owner Scott Ryan on Tuesday. Mr. Ryan had learned about other businesses planning to share the benefits of the tax reform bill with employees, and wanted to do the same, Mr. Langhurst said.
 
Full-time employees received a check for $500, while part-time employees, and a small number of employees who had just been hired in the last two months, received $100.
 
"I think it will help the local economy," Mr. Langhurst said, speculating that some employees may spend a little more freely at nearby restaurants, pubs and shops. He said some undoubtedly will use the money to pay the crush of bills that come due after the holidays.
 
"It (the total bonus awards) wasn't $50,000, but it was pretty close," said Mr. Langhurst, adding that "I have a few more friends today."
 
With the bonuses, Toyota of Cedar Rapids joined other Corridor employers that have shared, or are planning to share, the benefits of tax reform with their employees. Ohnward Bancshares, Sinclair Broadcasting - owner of CBS2 and operator of FOX28 - and Nationwide all announced bonuses for full-time employees, while Wells Fargo previously announced that it will raise its minimum hourly pay rate for team members to $15 an hour, effective in March.

Brad Baldwin 
Coralville-based MediRevv, a national health care revenue cycle management and coding company, has named Brad Baldwin chief operating officer.
 
Mr. Baldwin's scope of responsibility will continue to be revenue cycle services, information technology, client services, human resources and facilities planning.
 
"Brad is a trusted leader who never shies away from a challenge and consistently delivers results," Chris Klitgaard, CEO of MediRevv, stated in a release. "He is uniquely qualified to drive strategic prioritization and expansion of MediRevv's mindset in terms of partners, people and performance, no small task for a growing company."
 
Brad joined MediRevv in 2009, bringing 20 years of broad service industry experience. He has served in a variety of roles since then, including senior vice president of revenue cycle services and vice president of extended business office (EBO) services, and was described by the company as "the architect of the company's employee success model." He was also named one of the Corridor Business Journal's Forty Under 40 in 2010.
 
MediRevv, established in 2007, is one of the fastest growing companies in the Corridor, appearing on the CBJ's Fastest Growing Companies list six times since 2011 and on the Inc. 5000 list six years in a row.
Story4CBJ Report on CBS2/FOX 28: Blairs Ferry boom, SwineTech win  
 
 
In this week's CBJ Report on CBS2/FOX 28, Editor Adam Moore discusses the new round of development coming to Blairs Ferry Road in Marion, Iowa startup SwineTech's latest award, and a new study on the economic impact of regulations in Iowa. Watch the full report here.
 
The Iowa Utilities Board has issued an order opening an investigation into the effect that the reduction in the federal corporate income tax rate from 35 to 21 percent will have on Iowa's rate-regulated utilities.
 
The IUB said it is opening the inquiry to gather information and "determine whether the retail customer rates of each utility are still just and reasonable as required by Iowa law." Federal income tax expense can be a significant factor in determining retail customer rates, as utilities are limited in the amount of profits - measured as return on equity - they are allowed to make by state statute.
 
The board order will require the following from MidAmerican Energy Company (gas and electric), Alliant Energy-Interstate Power and Light Company (gas and electric), Black Hills Energy, Liberty Utilities and Iowa American Water Company:
  1. Provide certain information to the board, such as the impact the tax cut will have on the utility and any ideas the utility may have for providing the benefit of reduced taxes to customers.
  2. Attendance at a Jan. 25 board workshop in Des Moines to present on the impact of the federal corporate tax rate reduction.
  3. Attendance at any further proceedings scheduled by the board as necessary following workshop discussions.
  4. To track calculated differences resulting from the new Tax Cuts and Jobs Act of 2017 since Jan. 1, 2018, and what would have been recorded if the act had not gone into effect.
The state's utilities may be required to offer refunds or credits to customers or go through other rate-making adjustments depending on the final outcome of the IUB's process.
Story5Iowa Rural Mainstreet Index falls
 
Creighton University's Rural Mainstreet Index for Iowa dropped to 47.3 this month from 48 in December, the Des Moines Business Record reports.
 
Index readings above 50 suggest growth, while those beneath 50 point to slowing economic activity.
 
Iowa's farmland price index for January rose to 42.4 from December's 39.8. The state's new-hiring index for January fell to 52.1 from December's 60.
 
The regional index for the 10-state region fell to 46.8 from 47.8 in December. "While the overall Rural Mainstreet Index (RMI) for January declined and remained below growth neutral, year-over-year indices are trending higher. Clearly, based on our recent surveys, the negatives are getting less negative," Creighton's Ernie Goss, the Jack A. MacAllister Chair in Regional Economics, said in a statement.
 
Both the hiring index and the confidence level for the area fell. "Concerns about trade, especially current NAFTA negotiations, and low agriculture commodity prices continue to restrain bankers' economic outlook," Mr. Goss said. "Approximately 71.2 percent of bankers projected that any interruption or abolition of NAFTA would have a negative impact on their area."
EventHeadlinesShort-Term Event Planner
 
Jan. 19
Ribbon Cutting: Urban Acres , by Iowa City Area Chamber of Commerce, 4 p.m., Urban Acres, 250 Holiday Road, Coralville. Join the Chamber Ambassadors for this ribbon-cutting. Free.
 
Jan. 21
Iowa Inventors Group Meeting , by IIG, 7 p.m., Community Savings Bank, 101 Robins Square Ct., Robins. Local inventor Joey Svejda will discuss his inventing process and success. Free. For more information, email [email protected].
 
Jan. 22
Coralville Roundtable, by Iowa City Area Chamber of Commerce, noon-1 p.m., Cheddar's Scratch Kitchen, 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.
 
Ribbon Cutting: Napoli's Italian Restaurant , by Marion Chamber of Commerce, 4-4:30 p.m., 500 Marion Blvd., Marion. Join Chamber Ambassadors to celebrate Napoli's seven years in Marion. Free.
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Headlines from CBS2/FOX 28
These news items are provided by CBS2/FOX 28  
 
Two University of Iowa undergrads and assistant physics professor David Miles are traveling 4,000 miles to Norway, where the Hawkeye students will take part in an intensive program focused on building, launching, and analyzing a rocket. The process for successfully setting up and completing a rocket mission typically takes between five and 15 years. The students will have four days. In many ways, sophomore astronomy major Hannah Gulick is continuing a tradition at the University of Iowa. Physicist James Van Allen served as a professor at Iowa beginning in 1951, and in his decades of work, he left a legacy of leadership in space exploration. "My dream is to be a researching astrophysicist," said Ms. Gulick. "To have this opportunity to do a campaign within four days and experience everything that goes into building a rocket, the design, the actual building of it, the launch and then the data analysis, it's just invaluable experience for what I plan to do in the future." Already operating on a tight deadline, Mr. Miles was quick to point out the added pressure of the fact that in rocket science, "you only get one chance." The two Hawkeye undergrads will join 18 other students - some from Canada, others from Norway - becoming the first American students to participate in the program.

The annual fundraiser for Gems of Hope, "Hope Blooms", is providing the Corridor with the opportunity to purchase fresh cut, bud-stage daffodils for themselves or area cancer patients in treatment. Other gifts, such as handmade note cards and stuffed animals for children are also on sale. Newport's Flowers and Gifts on Wilson Avenue is collaborating with Gems of Hope this year and will serve as the event headquarters and a place where the public can pick up orders. Gems of Hope supports cancer patients and their families. At the core of its programs is the "gifts of hope" distribution. Volunteers handcraft cards with inspirational sayings and mount handmade earrings or bookmarks, or a serenity circle/stone to the card. The gifts are distributed in oncology clinics and hospitals throughout the Corridor. Gems also offers a kids camp for ages 5-12 dealing with a cancer diagnosis, a website for teens, a phone app, a scholarship program for high school seniors and cancer libraries for schools. To purchase a gift for yourself, a loved one, or a patient in treatment, visit their website.
 
T hese news items are provided by CBS2/FOX 28 
CBS2 Chief Meteorologist Terry Swails' Weather First Forecast

The thaw continues today with temperatures climbing into the low 40s this afternoon. Snow will be melting away as temperatures remain near and above freezing through the weekend. Clouds will continue to move in tonight into Saturday but temperatures will remain mild in the low 40s Saturday afternoon. As the storm approaches, rain chances will go up Saturday night into Sunday. Showers will continue through the day Sunday and there is even the potential for isolated thunder, especially in southern Iowa. On top of the rain, it will be windy with strong southerly winds continuing to pump in warm air. There will be a break in the precipitation Monday morning and temperatures will rise close to 50 degrees in spots. Then the cold front associated with the storm will move in. Temperatures will drop through the day and precipitation may change over to snow late Monday. Rainfall accumulation will be around a half an inch area wide with isolated amounts up to an inch.