A new monthly survey of business leaders suggests the economy keeps operating at a healthy pace in Iowa and eight other Midwest and Plains states, but supply delays and shortages of workers are limiting growth in the region. The overall economic index for the region slipped to 68.9 from July’s 73.1, but it still indicates strong growth. Any score above 50 on the survey’s indexes suggests growth. Creighton University economist Dr. Ernie Goss said strong job growth continued but businesses are having trouble finding workers to hire. More from Ernie Goss, along with the Iowa-specific numbers, on the Iowa Business Report Saturday morning at 7 on KXEL.
Federal bank regulators have issued a cease-and-desist order to an Iowa bank accused of risky practices that threaten the stability of the 113-year-old, family-owned financial institution. The Federal Deposit Insurance Corp. has ordered Luana Savings Bank to restructure its management, scale back its loans and find more retail depositors, such as savings and checking accounts. The FDIC takes issue mostly with Luana’s use of wholesale deposits–money with variable interest rates from investors and other banks–to increase its lending and expand. The FDIC says because Luana also holds fixed-rate loans, it is at risk of losing money if interest rates rise. Luana is challenging the order.
Black Hawk County supervisor Chris Schwartz said at a meeting this week he would support a form of mask mandate in county buildings. Fellow supervisor Tom Little said he feared it would be hard to reinstate a mandate after earlier lifting it. Both Schwartz and Little wore face coverings during the meeting. Supervisor Craig White noted others who have mandated masks are having a hard time enforcing the rule. Schwartz also floated the idea of a vaccination mandate for county employees, something supervisor Dan Trelka said makes him uneasy.
Sixty Iowa legislators are asking the Iowa Supreme Court to overturn a 2018 ruling that declared abortion a fundamental right under the Iowa Constitution. Lawyers filed the brief this week on behalf of 22 Iowa Senators and 38 House members in a case in which Planned Parenthood of the Heartland sued Iowa Gov. Kim Reynolds after she signed a 2020 law that required a 24-hour waiting period before a pregnant woman could get an abortion. A judge struck down the law this past June as unconstitutional, citing the 2018 Iowa court ruling that abolished a 72-hour waiting period for abortion. Reynolds appealed, and the lawmakers filed a supporting brief. The court has not set a date for arguments in the appeal.
A protest against sexual assault that drew about 1,000 people to a University of Iowa fraternity started peacefully Tuesday night but later resulted in vandalism of buildings and overturned cars. A group organized the protest at the Phi Gamma Delta fraternity, which it accused of promoting a culture of sexual assault. The group claimed in social media promotions that two members of the fraternity were “getting away with sexual assault.” Most of those who protested were peaceful but some vandalized the fraternity, including kicking down a door, shattering windows and spray-painting accusations. The protest later moved to another house, leading to more vandalism and overturned cars. Fraternity leaders say the men accused of assault are no longer members of the organization.
Gov. Kim Reynolds announced yesterday that her annual Harvest Festival will take place at the Iowa State Fairgrounds on Saturday, September 25 at 4:30 p.m. The event includes a barbecue, cotton candy, face painting, and pumpkin decorating, along with guest speakers. It is also likely she will officially announce her re-election intentions at the event with supporters.
