Waterloo-Cedar Falls Courier, Iowa, Jim Offner column

Dec 27, 2009 — Waterloo-Cedar Falls Courier

Jim Offner

Dec. 27, 2009 (McClatchy-Tribune Regional News delivered by Newstex) -- The decade, by some measures, is coming to a close, and the postmortems already are starting to filter in.

For businesses, Michael E. McGrath, who has written extensively about the subject, offers some opinions about the best and worst decisions made during the past 10 years.

It's subjective, of course, but his "best" list is tough to dispute: the Apple (NASDAQ:AAPL) iPhone/iPod/iTunes/Apps moves between 2001-08; the launch of Facebook by a couple of Harvard dropouts; Disney's acquisition of Pixar, which brought in a gold mine of merchandising opportunities; Ford's decision to borrow $23.6 billion against its own assets and sell the Jaguar and LandRover brands -- ahead of the automotive collapse that forced rivals GM and Chrysler into bankruptcy and onto the public dole; the release of the RockBand video game in 2007; the launch of Jet Blue in a troubled airline industry; Southwest Airlines (NYSE:LUV) ' decision to hedge against fuel price increases between 2000 and 2006, which kept that airline going when rivals who lacked such foresight disappeared; and two crucial moves in 2007 -- Germany-based Daimler's sale of Chrysler and the merger of XM and Sirius satellite radio (NASDAQ:SIRI) systems.

There were also some Solomon-like decisions made by some sharp business minds in the Cedar Valley during the decade. Where to rank them depends on numerous factors, not the least of which is personal preference.

Over the next couple of weeks, I'll take a look at 10 of the most important business developments, along with some of the key movers behind those events.

There's little argument that the following moves made critical difference in keeping the area above the financial abyss that formed under the national economy in the last decade.

1. Cedar Valley TechWorks -- In April 2003, the Iowa Department of Economic Development, MidAmerican Energy (OTCBB:MWPSP) (OTCBB:MDPWN) (OTCBB:MDPWM) (OTCBB:MDPWL) and the Cedar Valley Economic Development Corp. worked with the John Deere Foundation and the University of Northern Iowa to develop an ambitious project to market high-tech agricultural products out of a campus that would spring up on Westfield Avenue in downtown Waterloo. Deere would donate two buildings to serve as the heart of the complex.

The complex, completed in phases, welcomed its first tenant, UNI's National Ag-Based Lubricants Center, just last week.

2. Greater Cedar Valley Alliance -- A dream of developer Ken Lockard and other Cedar Valley business leaders became reality when the alliance met for the first time Dec. 8, 2003. The goal of promoting Waterloo and Cedar Falls as a region, rather than competing entities, was a stroke of genius. It unites the dynamics of both cities to create a region-wide asset, including a united chamber of commerce, that already has paid major economic dividends.

3. Target Corp.'s (NYSE:TGT) twin distribution centers -- The Minneapolis-based retailer had so much success with its first distribution facility, which opened in 2003 in Cedar Falls, that the company decided to open a perishable distribution and warehouse center this year. It's the only place the company has two such facilities located together. What it means for the area, aside from a hub for further development, is hundreds of steady, full-time jobs.

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