Canadian National buying Iowa Northern Railway
Radio Iowa » Business
by Dar Danielson
9h ago
The Canadian National Railroad announced it has reached an agreement to acquire the Waterloo-based Iowa Northern Railway. Iowa Northern has some 275 miles of track that runs from Manly to Cedar Rapids, with branch lines from Waterloo to Oelwein, and Forest City to Belmond. The Iowa Northern website says it has 110 employees and serves ..read more
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Tolls go up January 1 on Fort Madison Bridge
Radio Iowa » Business
by O. Kay Henderson
3d ago
It will cost more next year for vehicles to cross a nearly mile-long toll bridge in southeast Iowa. The Burlington Northern Santa Fe Railway maintains the bridge, which connects Fort Madison to Illinois. It has a lower deck for trains and an upper deck for two lanes of vehicle traffic. The railroad says maintenance costs ..read more
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Webster City businesses want downtown access opened back up after fire
Radio Iowa » Business
by Radio Iowa Contributor
3d ago
Wednesday marks one week since fire damaged four businesses in downtown Webster City and barricades still surround the area. A group of Webster City business owners sent a letter to the Webster City City Council to get the street reopened, as this is a critical holiday shopping time. Webster City Area Chamber of Commerce director ..read more
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Creighton economist finds recession signs in Mid-America region
Radio Iowa » Business
by O. Kay Henderson
1w ago
Creighton University economics professor Ernie Goss says it appears the region’s manufacturing sector is entering recession territory. “That’s going to spill over into the broader economy in the first quarter of 2024,” Goss says. Goss surveys manufacturing supply managers in Iowa and eight other states monthly. “Approximately six of 10 said recession was the number ..read more
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Iowa home sales drop in October
Radio Iowa » Business
by Dar Danielson
1w ago
Home sales in the state were down nearly 12% in October compared to last year. Iowa Association of Realtors spokesperson Ashlee Kieler says it’s a seasonal drop. “Really it’s very indicative of a typical housing cycle for us you know nationally and at the state level and the fall people are more settled you know ..read more
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AMC closes its last theater in Iowa’s largest metro
Radio Iowa » Business
by O. Kay Henderson
1w ago
The largest movie theater chain in the world has closed its last location in the Des Moines metro that had 16 movie screens. AMC had already closed its cineplex at Southridge Mall in Des Moines and at a site in Urbandale that had nine screens. The website for AMC’s Johnston location says that site is ..read more
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Economist says supply chain issues have improved for retailers
Radio Iowa » Business
by Dar Danielson
2w ago
Creighton University Economist Ernie Goss says stores shouldn’t have the trouble with stocking merchandise this year they’ve had with the supply chain in past years. “We’ve seen that improve significantly and inventory levels are pretty good. And that’s going to provide a lot of a lot of goods out there for individuals to purchase,” Goss ..read more
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Black Friday sales are important break-even point for many Iowa merchants
Radio Iowa » Business
by Matt Kelley
2w ago
Tomorrow’s Black Friday shopping extravaganza, followed by Small Business Saturday, marks a vital kickoff to the holiday shopping season, which a University of Iowa College of Business professor says could be make-or-break time for countless Iowa merchants. Professor Peggy Stover, who directs the UI’s Marketing Institute, says some businesses may have a so-so 11 months ..read more
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Deere sees net sales and revenue fall for the quarter, rise for the fiscal year
Radio Iowa » Business
by Matt Kelley
2w ago
Quad Cities-based Deere and Company is wrapping up its fiscal year on a high note. Iowa’s largest manufacturing employer is releasing its fourth quarter earnings, reporting net income of more than $2.3 billion dollars for the quarter, up from $2.2 billion at this time last year. A Deere news release says worldwide net sales and ..read more
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IWD director says national economy part of reason for unemployment rate uptick
Radio Iowa » Business
by Dar Danielson
3w ago
The state unemployment rate rose two-tenths of a point in October, up to t3.2%. Iowa Workforce Development director, Beth Townsend, says the national economy is likely playing a role in the increase. “We’ve seen an increase nationally in the unemployment rate, and most states are seeing this similar small increase in their unemployment rates. I ..read more
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