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Business Record
Thursday PM Daily | April 20, 2017
Bankers Trust
UI's Internship Village in D.M. fills up for summer
By Joe Gardyasz | Senior Staff Writer
Business Record Business Record

An internship housing program that kicks off this summer at the Iowa Center for Higher Education is proving to be highly popular with students and their hosting employers.

The University of Iowa's Internship Village — which is housed in Fenton Hall on the former AIB College of Business campus on Fleur Drive in Des Moines — will be filled to capacity this summer with 134 college interns who are coming from throughout Iowa and institutions in 24 others states. About 25 of the interns are University of Iowa students. The interns will work for more than 30 business and organizations throughout Greater Des Moines.

"We're maxed out," said Tom Rice, director of the Iowa Center for Higher Education, who said that applications from summer interns are still rolling in. Expanding the program with existing space is not an option, however, as Fenton Hall is the only dormitory space on the campus. Rice said he has been able to refer some interns to Grand View University for rooms.

Filling the otherwise vacant rooms with interns keeps the building in use and helps defray the cost of maintaining the campus, which provides some savings to the state, Rice said. Providing the housing also builds goodwill between UI and and the Des Moines business community, as well as with other colleges.

Principal Financial Group, which typically hosts more than 200 summer interns each year, found space for more than 40 of those interns at the Intern Village.

"We really haven't been able to accommodate housing very well previously," said Shelbi Spear, a member of Principal's university relations team. "Nothing has even come close to the Intern Village in terms of cost, convenience and the ability for interns to meet other interns."

"Our team has been nothing but impressed with Tom's engagement ideas for Des Moines employers," added Erin Maltby, another Principal university relations team member. "I can say they're truly committed to providing a meaningful internship experience." As an example, Rice is working to invite executives from the companies offering the internships to visit the interns at the Village through social events such as a barbeque. "Where else can you have that kind of engagement?" she said.

The Intern Village will be open year-round to accommodate interns; Rice is now accepting applications for rooms for both the fall and the spring semesters. He can be reached at 515 235-4616 or via email.

Any college or university student with a verified internship in Greater Des Moines can rent one of the units, with a minimum stay of eight weeks in summer and 11 weeks for the fall and spring semesters. All units are furnished and have kitchens, private bathrooms, heat and air conditioning.

Read a related story regarding the Des Moines Internship Village at BusinessRecord.com.

Tom DeWaay CBRE

Leadership Institute graduates 29
The Greater Des Moines Leadership Institute has graduated 29 participants from its Community Connect program. The program matched enrollees in the five-session program with community leaders to explore purpose, values and motivations,and  participants set goals for community involvement. The graduates are: Kimberly Broderick, Jamie Burch Elliott, Tess Cody, Jeffrey Czerwiec, Austin Fisher, Brenna Fujimoto, Nadilia Gomez, Brenna Gordon, LaVerne Greenfield, Kale Halder, Kim Hanken, Jenna Herr, Donya Jenkins-Harvey, Allissa Johnson, Bradie Kuehne, Amanda Laverman, Becca Lee, Dara Madigan, Micheal Malone, Ryan Martin, Michelle Mueller, Jennifer Nelson, Collin Nelson, Emily Nichols, Marie Procyk, Tony Raymer, Will Signs, Emmanuel Smith, and Erin Sunde. Mentors were: Emily Abbas, Bankers Trust; Kim Butler, The PrivateBank; Blake Campbell, Best Buddies; Angela Gallagher, John Deere Financial; Nolden Gentry, Brick Gentry; Nick Gerhart, Farm Bureau Financial Services; Joe Gonzalez, Latino Resources and Heritage Festival; Eric Idehen, Wells Fargo; Joseph Jones, the Harkin Institute; Tina Mowry Hadden, Mowry Strategies; Barb Preuss, Des Moines Performing Arts; Elizabeth Presutti, DART; Dana Ramundt, The Dana Company; Katie Roth, Aureon Staffing; Teri Wood TeBockhorst, Iowa Lottery; and Mee Yang-Lee, Kum & Go.

Iowa's Rural Mainstreet Index fell in April
Creighton University's April Rural Mainstreet Index for Iowa fell to 39.1 from 40 the month before. The state's farmland-price index dropped to 28.5 from 30.4 in the same period. But the new-hiring index rose to 51.5 in April from 50.5 in March, both in growth territory. For the region, the overall index fell to 44.6 from 45.3. The index has been below 50, showing a lack of growth, since August 2015. The survey of bank presidents and CEOs in rural parts of 10 states is intended to show a six-month economic outlook. Creighton economist Ernie Goss said livestock and grain prices have both fallen, dragging sales down with them.

CO-OP Financial announces $26.1 million shareholder dividend
CO-OP Financial Services, which earlier this month acquired Clive-based payments processing company TMG, today announced a patronage (shareholder dividend) pool of $26.1 million for fiscal year 2016, raising to $393.7 million the total patronage amount made available by CO-OP since becoming a cooperative in 1996. "This latest year's healthy patronage to our 1,200 shareholding credit unions represents a balance with the more than $25 million we are investing in the company in 2017 on technology infrastructure and product innovation," said Todd Clark, president and CEO. The company has about 3,500 credit union clients, of which about 1,200 are shareholders. Credit unions that were exclusively TMG clients before the acquisition by CO-OP — and who are now CO-OP clients — are now eligible to buy shares in CO-OP and participate in future patronage distributions, said Bill Prichard, a spokesman.

Regents appoint ISU presidential search committee
The Iowa Board of Regents has announced the names of the 21-person Iowa State University Presidential Search and Screen Committee. The committee is charged with identifying finalists for the board's consideration to become the next president of ISU. Co-chairing the committee will be Dan Houston, president and CEO of Principal Financial Group, and Luis Gutierrez, dean of the Iowa State College of Design. The committee consists of eight members of the ISU faculty and two students in addition to representatives from the ISU Alumni Association, the ISU Foundation and the Ames community. Regents Patty Cownie, Sherry Bates, Milt Dakovich, and Nancy Boettger also will serve on the committee with Donley and Board of Regents Chief Operating Officer Mark Braun serving in ex-officio nonvoting roles. The committee is scheduled to hold its first meeting in late May. The board expects to appoint the 16th president of Iowa State in early October.

Brick Gentry PC
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New York Times: General Motors said today that Venezuelan authorities had seized its vehicle assembly plant in the country, adding to the chaos in the already-struggling auto industry there. GM said it was forced to cease operations in Venezuela because of an "illegal judicial seizure of its assets" and would lay off its 2,700 workers there.

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SMALL BUSINESS TRENDS: There's a good chance your business uses a fair amount of electronic devices to manage your operations. There's also a good chance that you update those electronics fairly regularly. So what do you do with the old devices when you replace them? Read more


May 10: CFA Society Iowa luncheon
Host: CFA Society Iowa
About: Michael Fitzgerald, treasurer of the state of Iowa, will be the speaker at the monthly luncheon. CFA Society Iowa members and nonmembers are welcome.
When: 11:30 a.m. to 1 p.m.
Where: Des Moines Embassy Club
Learn more

View our full calendar to see the latest curated business and community events, or suggest an event for our calendar for possible inclusion in our Daily email and print products.
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MORE KCCI: Get more local news from our partners at kcci.com

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