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Kansas City Business Journal
Major Waldo apartment complex secures new financing
An upcoming apartment complex in Kansas City's Waldo neighborhood recently received a shot in the arm from new equity and debt financing.<\p> EPC Real Estate Group LLC recently secured a $12.7 million equity investment from a national fund manager for construction of Waldo District, a six-story, 283-unit community with 17,636 retail square feet on a full block southeast of Broadway and 74th streets. JLL Capital Markets this week announced its Denver office had arranged the investment on behalf of the Overland Park developer.<\p>
A popular job-posting strategy can backfire
Editor's Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business and career. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> The hiring process sparks plenty of questions for employers and candidates alike. <\p>
Olathe CEO secures prestigious national board position
Local CEO Shauna Huntington was appointed chair of the board for a national organization focused on female entrepreneurship. <\p> Huntington, founder and CEO of Olathe-based Fortiviti LLC, will serve a one-year term as chair of the National Association of Women Business Owners Institute for Entrepreneurial Development. In the role, she will focus on educational programming, work on the Woman-Owned Business certification program and help sustain its endowment fund. <\p>
Jet owner sues Downtown Airport operator for tow damage
Kansas City-based Productivity Strategies LLC wasn’t pleased to learn that its pricey private jet was damaged while getting towed at the Charles B. Wheeler Downtown Airport — and even less happy when the airport operator refused to pay for the damages. <\p> Productivity Strategies (PSL) owns a 1993 Dassault Falcon 2000, which can seat eight to 16 passengers. The company signed a contract in October 2023 to rent hangar and shop space at the airport from Signature Flight Support LLC, paying about $9,600 a month. <\p>
Olathe aviation exec pleads guilty to smuggling tech into Russia
An aviation technology smuggling scheme operating out of New Century has resulted in its second guilty plea.<\p> Douglas E. Robertson of Olathe admitted he participated in a years-long conspiracy to skirt U.S. laws by selling “sophisticated and controlled avionics equipment” to Russia without the required licenses, according to a release from the U.S. Department of Justice.<\p>
OP investment firm has a legal beef with cattle operation
Overland Park-based Mid America Capital Inc. claims a Texas cattle ranching operation took the firm's investment but commingled the funds with another, similar business and never delivered promised profits.<\p> The lawsuit in Kansas federal court claims fraud against K3 Ventures LLC, led by Forrest Roberts. Neither he nor K3 have filed a response to the complaint. They could not be reached for comment.<\p>
KC ad agencies harness AI's creative power
Generative artificial intelligence can create videos, images, poems and even novels. Advertising and marketing agencies are exploring how they can harness the technology's creative uses.<\p> Already, 61% of U.S. advertising agencies use generative AI, surpassing adoption rates from the general business community, according to a June report from Forrester, a global market research firm. <\p>
KC public company CEO's share sale yields $2.45M
H&R Block Inc. CEO Jeff Jones sold 44,975 shares as part of a trading plan, generating approximately $2.45 million.<\p> Jones sold his shares in H&R Block (NYSE: HRB) on July 1 for an average price of $54.55, according to a filing with the Securities and Exchange Commission. After the sale, Jones still owns 712,386 shares.<\p>
Black & Veatch gets new leader for operations arm
Black & Veatch promoted Jennifer Divito to be president of the engineering firm’s operations arm.<\p> With almost 20 years of experience at Overland Park-based Black & Veatch, Divito now leads BV Operations. The division is home to more than 12,000 employees and makes things happen as “the execution hub for the company’s broad spectrum of projects,” according to a release from Black & Veatch.<\p>
Bar K hopes new funding, execs unleash national growth
Even before Bar K was voted USA Today’s No. 1 dog bar in the U.S., the Kansas City-based company was strategizing and laying a foundation to unleash growth.<\p> It closed a funding round in June, brought on new executives — including a new CEO and CFO — and is talking to other markets about potential locations.<\p>
Zona Rosa adds pizzeria from upscale restaurant group
Plate Restaurant will open a third Kansas City-area locations: a pizza concept in Zona Rosa. <\p> Plate Pizzeria will open at 8630 NW Prairie View Road next spring, taking over the Stone Canyon Pizzeria space. The 2,400-square-foot restaurant will serve Neapolitan pizza, house-made gelato and espresso. <\p>
KC Current stadium scores championship game
Kansas City will host the 2024 National Women’s Soccer League Championship at the CPKC Stadium in the fall.<\p> The Current stadium will host the league championship on Nov. 23. The match will mark the first time Kansas City has hosted the NWSL Championship, in the world’s first stadium built for women’s soccer.<\p>
These are America's most-delayed flights
Airlines are expecting record-breaking traffic for the summer — and for the July Fourth holiday — but fliers on many routes would be wise to build in some extra time for their travel plans. <\p> That's according to an analysis by The Business Journals of the latest on-time data from airline analytics company Cirium Inc. The analysis looked at routes with at least 20 flights. <\p>
National marketing agency opens KC office
A North Dakota-based marketing agency is adding to the metro’s vibrant advertising scene by opening an office in the Crossroads Arts District. <\p> Flint Group, founded in 1946, recently opened an office at 2101 Broadway, its fourth, to tap into Kansas City's marketing talent, attract new manufacturing clients and expand its reach in the Midwest. <\p>
Big area manufacturer names new COO
Shawnee-based PBI-Gordon Cos. has hired a longtime Bayer Crop Science executive as its next COO.<\p> Jackie Applegate steps into her new position July 8. She most recently was president of the North American Crop Science business of Bayer. Through the years, she’s held a variety of executive roles at Bayer after getting her start at the company as a process development chemist.<\p>
Lenexa sports retailer pops up in the gopher state
Rally House, a growing retail chain dedicated to sports fan gear, is expanding into Minnesota with three locations.<\p> The Lenexa-based company plans to open two locations in the Twin Cities and another in Rochester.<\p>
Former Three Dog exec cooks up new barkery of her own
Sarah Deters walked into the coffee shop sporting a T-shirt with the words: “Sorry I’m late. I saw a dog.”<\p> She joked she’d have to buy a new wardrobe if she ever left the pet industry. Although she recently quit her corporate executive chef job of 15 years at Three Dog Bakery, she’s venturing into another pet-focused business: Callie Mae’s Barkery & Bath, named after her late white boxer and “one and only foster fail.” Callie Mae was part of the family for eight years.<\p>
KC gets an answer on federal Tech Hub grant bid
Kansas City missed out on a bid to secure tens of millions of federal dollars to bolster biologics and biomanufacturing in the region.<\p> The U.S. Department of Commerce’s Economic Development Agency on Tuesday announced that a dozen designated Tech Hubs would split $504 million in grants. Kansas City was one of 31 regions designated in October to compete for the grants.<\p>
Wooded area off K-7 in Shawnee could be developed
A heavily wooded property abutting Kansas Highway 7 in Shawnee could become a storage center. <\p> A real estate investment group led by Rick Lashbrook, owner of Overland Park-based Lashbrook Cos., submitted plans to build GarageSuites at 6825 Hedge Lane Terrace. <\p>
Local banks propel Lenexa financier past milestone goal
Commercial Capital Co. has reached another milestone: surpassing $300 million in outstanding lease receivables.<\p> The icing on the cake? It achieved that feat exclusively through local banks.<\p>
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