Latest news with #Iowa-based
Fox Sports
3 days ago
- Automotive
- Fox Sports
Race Names Unveiled for Sukup INDYCAR Race Weekend at Iowa
INDYCAR Celebrating speed, precision and innovation – hallmarks in racing and modern agriculture – Sukup Manufacturing Co. and INDYCAR announced May 28 the race names for the two NTT INDYCAR SERIES 275-lap races during the upcoming Sukup INDYCAR Race Weekend, July 11-13 at Iowa Speedway. The Saturday, July 12 race in Iowa will be the Synk 275 (5 p.m. ET, FOX, FOX Sports app, INDYCAR Radio Network) while the race Sunday, July 13 will be the Farm to Finish 275 (1 p.m. ET, FOX, FOX Sports App, INDYCAR Radio Network) at the 'Fastest Short Track on the Planet.' As a family-owned leader in grain storage and handling solutions, Sukup – title sponsor of Sukup INDYCAR Race Weekend – will bring its legacy of innovation to its home track as the Sheffield, Iowa-based company will highlight American farmers and the cutting-edge technologies that support the farming industry during the event. Saturday's NTT INDYCAR SERIES race will focus on Sukup's latest advancements in grain management systems. Honoring Sukup's revolutionary Synk product line, which unifies grain monitoring and measurement systems into one streamlined, easy-to-use platform, the Synk 275 will serve as the 11th round of the 17-race NTT INDYCAR SERIES season. Focused on celebrating and supporting America's grain farmers, Sunday's Farm to Finish 275 will close out what promises to be an action-packed weekend at the unique, .894-mile oval in Newton, Iowa. Iowa Speedway's doubleheader weekend – the only on the 2025 NTT INDYCAR SERIES schedule – is set to deliver even more high-speed drama in 2025. Both NTT INDYCAR SERIES races will be extended to 275 laps, 25 more than last year's twin 250-lap contests. This change increases each race distance from approximately 218 to 240 miles and is part of a broader initiative by INDYCAR and FOX Sports to enhance the fan experience by lengthening six of the 17 races on this year's NTT INDYCAR SERIES schedule. The goal is to amplify the intensity, the strategy and the spectacle that define INDYCAR racing. recommended
Yahoo
4 days ago
- Business
- Yahoo
Iowa's Big Grove Brewery is headed south, revealing plans for Kansas City taproom
Big Grove Brewery's reach is expanding beyond Iowa borders. The eastern Iowa-based brewery announced plans to open its sixth location in the suburbs of the Kansas City metro on the Kansas side. The new taproom is the third state Big Grove will have a physical presence in, joining its four Iowa locations and a soon-to-open facility in Omaha, Nebraska. The Nebraska taproom is slated to open in June, featuring Big Grove Coffee Co. More: Big Grove Brewery distributes $48K to organizations in Johnson, Linn and Polk Counties Big Grove got its start in Solon before quickly expanding to Iowa City. The beer conglomerate known for its popular Easy Eddy beer also has taprooms in Des Moines and Cedar Rapids. The exact location of the Kansas City location has not been released, but the anticipated opening date is scheduled for the summer of 2026. The Kansas taproom will feature the same charms as the other locations, including a large patio space, on-site brewing, and a full-service kitchen. More: Big Grove Brewery pours support into communities with new micro-grant program, beer release Since opening in 2013, Big Grove Brewery has become a top 100 craft brewery, distributing its beverages in six states: Iowa, Minnesota, Illinois, Nebraska, Missouri, and Kansas. Big Grove has received multiple craft brewing medals from the Great American Beer Festival for fan-favorite brews, including the Easy Eddy and Citrus Surfer. The 12,000-square-foot, 15-barrel Des Moines taproom opened in 2022 on the outskirts of downtown. Cedar Rapids joined the fray in 2023 with a 21,000-plus square foot, 15-barrel facility with an open fermentation room. Along with adding taprooms in neighboring states, the fast-growing brewery is offering store directors the opportunity to become company owners at its various taproom locations. This strategic initiative deepens the Big Grove's 'commitment to local leadership, employee empowerment, and building community-rooted taprooms.' More: Celebrate Johnson County's top students in the Press-Citizen's Student of the Year polls ' The ownership model will debut with the Omaha location, followed by Cedar Rapids, Des Moines, Solon, and Kansas City. 'We believe the best way to grow is by growing together,' said Doug Goettsch, co-founder of Big Grove Brewery, in a press release. 'Our team members are the soul of this company, and offering them this opportunity to build equity in their stores is one of the most meaningful ways we can invest back into our people.' Jessica Rish is an entertainment, dining and education reporter for the Iowa City Press-Citizen. She can be reached at JRish@ or on X, formerly known as Twitter, @rishjessica_ This article originally appeared on Iowa City Press-Citizen: Iowa's Big Grove Brewery reveals plans for Kansas City taproom
Yahoo
4 days ago
- Business
- Yahoo
1 Magnificent Dividend Stock to Buy Right Now as It Soars to New All-Time Highs
Casey's General Stores continues to stomp the market, generating 16% annualized total returns since it went public. Despite the growth it has delivered, its growth story could still be in its early chapters. Casey's dividend yield may be low, but 25 consecutive years of payout increases highlight its immense dividend growth potential. 10 stocks we like better than Casey's General Stores › In 2022, my daughter and I bought shares of Iowa-based convenience store (c-store) and pizza chain Casey's General Stores (NASDAQ: CASY) to add to her custodial account. Luckily enough, Casey's has more than doubled in value since and is now my daughter's largest holding. However, rather than adhering to the traditional investing adage of "buy low, sell high," I'm planning to add some more Casey's shares to her portfolio soon. Preferring instead to trust in the maxim of "winners keep winning," here are four reasons I believe Casey's could continue soaring -- even as it continues to trade near all-time highs already. Home to over 2,900 locations across the Midwest, Casey's is now the third-largest c-store and fifth-largest pizza chain in the United States. Focusing primarily on small towns with a population of less than 20,000 people, Casey's shops often act as the cornerstone eatery for many of the easy-to-miss communities it serves. Using this playbook, Casey's has generated incredible total returns over the years, rising: 32% over the last year 203% in the previous five years more than fivefold across the previous decade 5,220% since 2000 47,280% since its initial public offering in 1983 To put this last bullet point in context: Casey's is a 473-bagger -- meaning that a $100 investment in the company's shares in 1983 would be worth $47,380 today. However, despite these incredible returns, the future could be just as bright for the beloved company. Although Casey's has nearly doubled its store count since 2010, its expansion potential remains vast. Roughly half of the company's stores exist in just three states: Iowa, Illinois, and Missouri. Casey's currently operates in (and has distribution centers that can serve) 20 states, meaning that there is a long runway for growth ahead for the company as it adds new locations in these other 17 states. In fact, management believes that roughly 75% of towns with a population between 500 and 20,000 people (within its distribution centers' reach) still don't have a Casey's. Said another way, the company has a long way to go before it would theoretically "overbuild" within the existing geographies it serves. Best yet for investors, management has shown an appetite for expanding beyond these 20 states as well, using mergers and acquisitions (M&A) recently to tiptoe into valuable new markets such as Texas, Tennessee, and Florida. Not only do these M&A deals move Casey's into new areas, but they also tend to be immediately accretive to earnings thanks to the company's recently formed M&A team. This M&A team typically looks for smaller c-store chains where they can integrate the Casey's kitchen "know-how." By adding new (or upgrading subpar) kitchen capabilities, Casey's typically boosts these newly acquired stores' inside sales by 20% and their earnings before interest, taxes, depreciation, and amortization (EBITDA) by 70%. Since Casey's prepared food and beverage sales have a high gross margin of 58%, the added kitchen capabilities help the company generate a 15% return on investment on the average store it acquires and integrates into its model. Best yet, many of Casey's more recent acquisitions have been in larger cities than those it historically served. Yet the company's cash return on invested capital (ROIC) has continued to climb, showing that it seems to be succeeding in bigger cities. Should this figure continue rising -- and Casey's continues to report success in bigger markets -- its store count expansion potential could be massive. Though Casey's may only pay a 0.5% dividend yield, its dividend potential should not be ignored. First off, despite raising its dividend annually for 25 consecutive years, the company's payouts currently only use 13% of its net income. Management could theoretically spike its dividend yield to 3% and still have net income left over. However, it doesn't want to do this, considering it would rather use its excess earnings on its expansion plans. Even as Casey's grew its store count over the last 25 years, an investor who bought shares in 2000 and held until today would now receive a 20% dividend yield compared to their original cost basis. This shows the power of buying and holding dividend growers like Casey's. With management expecting EBITDA to grow by 8% to 10% over the long term, while maintaining a payout ratio between 15% and 20%, double-digit dividend growth could be on the horizon for investors. There's no way to sugarcoat it, Casey's trades at a loftier valuation now than it normally does. However, I don't believe this is simply an overvaluation from the market. Instead, I think the market has taken note of Casey's store count expansion story and the fact that the company has grown its net income by 19% annually over the last decade. While this price-to-CFO (cash from operations) ratio of 16 is higher than usual for Casey's, it isn't outrageous compared to the broader market. For instance, if Casey's gave up on all of its growth ambitions and only spent money on maintenance capital expenditures, it would trade at around 18 to 20 times free cash flow (FCF). This is a hefty discount to the S&P 500's average price-to-FCF ratio, which is somewhere closer to 30. Obviously, we don't want Casey's to quit spending on growth, but I wanted to give this comparison to show its relatively cheap valuation compared to the broader market. As Casey's continues to steadily march across the U.S. and raise its dividend annually -- all at a sub-market valuation -- I'm perfectly happy to add to my daughter's winning position, even with shares back near all-time highs. Before you buy stock in Casey's General Stores, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Casey's General Stores wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Josh Kohn-Lindquist has positions in Casey's General Stores. The Motley Fool recommends Casey's General Stores. The Motley Fool has a disclosure policy. 1 Magnificent Dividend Stock to Buy Right Now as It Soars to New All-Time Highs was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
23-05-2025
- Entertainment
- Yahoo
Union sues Tailgate N' Tallboys organizers over labor agreement
The International Alliance of Theatrical Stage Employees (IATSE) is taking action againstthe organizers of Tailgate N' Tallboys, alleging USA Concerts and Events breached a labor agreement and refused to hire local stagehands in multiple cities, the union has announced in a news release. USA Concerts and Events signed a collective bargaining agreement with Davenport, Iowa-based IATSE Local 85 in 2023. From rigging and forklift operation to spotlighting and camera work, union members have ensured safe, efficient, and professional execution of the event's technical needs. Similarly, Local 193 of central Illinois has covered the festival's operations for nearly a decade, the release says. 'Our Local has safely and flawlessly serviced the Tailgate N' Tallboys Festival in Clinton since itsinception,' said IATSE Local 85 Business Agent Joe Goodall. 'This event is a vital source of income for many area workers and their families. It's deeply disappointing that the organizers are forcing us to pursue legal action simply to ensure fair treatment for the local workers that have helped make this festival possible.' 'After almost ten years of IATSE Local 193 members serving as the dedicated workforce for Tailgate N' Tallboys, organizers want to abandon the workers and community that made it into the large and successful event it is today in favor of an out-of-state labor company. It's extremely disheartening,' said IATSE Local 193 Business Agent Michael Irvin. In the release, USA Concerts' decision to bypass union crews in favor of an out-of-state, non-union labor provider not only undermines standards for live event workers in the Midwest but also attempts to violate an established Collective Bargaining Agreement (CBA). The contract contains a clear Evergreen clause, which automatically renews the deal unless terminated by written notice, but no such notice was given. The situation is further aggravated by the festival's actions in Bloomington, Illinois, where Tailgate N' Tallboys also refused to hire area IATSE workers from Local 193. This pattern of bypassing local union labor undermines prevailing wage standards and deprives professionals of vital work in their own communities, according to the release. The Locals involved, with support from International union, are pursuing legal remedies and have issued a formal notice to USA Concerts, reinforcing their contractual obligations. The IATSE continues to call on the organizers of Tailgate N' Tallboys to honor their signed agreement and support the local communities they operate in by hiring qualified, area union labor. Our Quad Cities News has reached out to Clinton Parks & Recreation, USA Concerts & Events, and Clinton Mayor Scott Maddasion, and has not received a response as of 5 p.m. Thursday., International Alliance of Theatrical Stage Employees or IATSE (full name: International Alliance ofTheatrical Stage Employees, Moving Picture Technicians, Artists and Allied Crafts of the United States, Its Territories and Canada), is a labor union representing over 170,000 technicians, artisans and craftspersons in the entertainment industry, including live events, motion picture and television production, broadcast, and trade shows in the United States and Canada. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
22-05-2025
- Entertainment
- Yahoo
Union condemn Tailgate N' Tallboys for allegedly not hiring local stagehands
BLOOMINGTON, Ill. (WMBD) — A theatrical union is taking action to condemn an event organizer for allegedly not hiring local stagehands. The Iowa-based International Alliance of Theatrical Stage Employees Local 85 and Local 193 of Central Illinois have been impacted by USA Concerts and Events, the organizers of Tailgate N' Tallboys in Bloomington and Clinton, Iowa, for allegedly not hiring local stagehands for their events, according to a union news release. USA Concerts and Events allegedly signed a Collective Bargaining Agreement with Local 85 in 2023. Local 193 had covered the festival operation for Tailgate N' Tallboys in Illinois for almost a decade. 'After almost ten years of IATSE Local 193 members serving as the dedicated workforce for Tailgate N' Tallboys, organizers want to abandon the workers and community that made it into the large and successful event it is today in favor of an out-of-state labor company. It's extremely disheartening,' said IATSE Local 193 Business Agent Michael Irvin. UPDATED: Tailgate N' Tallboys canceled Thursday night due to severe weather The union claims that USA Concerts and Events bypassed union crews in favor of an out-of-state, non-union labor provider for their Clinton event. They said this undermines a Collective Bargaining Agreement that contains an Evergreen clause, which automatically renews the deal unless terminated by written notice. USA Concerts and Events also allegedly refused to hire area IATSE workers from Local 193 for the Tailgate N' Tallboys event in Bloomington, according to the news release. The unions issued a formal notice to USA Concerts and Events and said they are pursuing other legal options. We have reached out to USA Concerts and Events for comments on this issue and still await a response. This story will be updated when more information becomes available. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
