Ingrams July 2023

Ingrams.com | July 2023

Toast to Fast Growth KC’s Top 10 Fastest-Growing Companies

38 2023 th

The 38th Corporate Report 100 The KC Region’s Fastest-Growing Companies

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Betting on our people. Celebrating our team.

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JULY 2023 • VOLUME 49, NO. 7

Talk of the Town 7 In the News/Correspondent Business News and Legislative Updates Perspectives 4 Editor’s Note The 50th Anniversary Countdown by Joe Sweeney 9 Between the Lines There’s more to a simple frozen custard than merely the sum of its ingredients. by Jack Cashill

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11 Reflections

To find fault with the new terminal design at KCI, you have to look hard. by Dennis Boone

13 In a Nutshell

Features

Despite the monetary-tightening, we continue to see economic resilience. by Ken Herman

Special Reports 19 Corporate Report 100 For a 38th year, we present this impressive roster of the companies

19 Back for More

Business & Commerce 15 Small Business Adviser

In the rarefied atmosphere atop the Corporate Report 100, several companies are becoming regular fixtures.

topping the high-growth charts in the Kansas City area. In a few instances, we can see that having a big baseline number is no impedi ment to making this list.

Veteran-owned business play a crucial role in the economy. by Mindy Brissey

23 Corporate Report 100 The breadth of economic growth across the Kansas City region comes

16 Of Counsel

shining through with this year’s ranking of the area’s fastest-growing companies. They hail from all sectors: logistics, professional services, manufacturing, health care and more.

On-line disclaimers won’t protect you if you use protected creative materials. by Jaclyn Alcantara

49 Banking & Financial Services Report

Ingram’s dives deep into FDIC data to show that regional banks are holding their own with customer deposits, and we tap into the experience of wealth-management thought leaders to assess the investment landscape in mid-2023.

17 Financial Adviser

Errors and omissions by companies and employees can have costly implications. by Nate Heying and Nick Kohlhof

49 A Surprising Turn

Anyone who made the mistake of trying to time recovery of investment markets this year may long regret missing an

47 Managing Growth

unexpected tide. By Dennis Boone 54 Q&A with … J.B. Mason

As your company grows, your culture changes—but core values don’t have to. by Damon Anderson

53 Wealth Management

The managing partner for one of the region’s premier players in the M&A space reflects on a market that is moving ahead after the 2022 pullback.

Wills and trusts are key elements of a comprehensive estate plan. by Megan Kelly

56 Take It to the Bank

Leads & Lists 14 Military Bases/Veterans Assistance Organizations 46 CR100 All-Time Honor Roll 58 Top Area Banks (Assets) 60 Top Area Credit Unions 61 Top Area Mortgage Lenders

Contrary to Chicken Little-level claims of a banking system in crisis, deposit levels rose throughout 2022 at national and regional banks alike.

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Front cover photo: Matt Kocourek Photography at the J. Rieger & Co. distillery at Electric Park in Kansas City, MO

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Ingrams.com

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EDITOR’S NOTE

by Joe Sweeney

Momentum for a Celebration

Why 2024 will be a milestone year for Ingram’s , and what that could mean for your organization. I served on the board of directors of the Alliance of Area Business Publications for years, and in 1998 it was my pleasure to recruit our keynote speaker for the 1999 Summer Conference in Washington, D.C. I pursued Steve Forbes for that, called his office and talked with a couple of his associates. The following day, a colleague said, “Joe—Steve Forbes on line 3”. We visited, and he agreed to participate. “We subscribe to all 75-plus of your member publications, and I read three reli giously— Ingram’s among them,” he told me. Flattered, I asked, why Ingram’s ? “You produce the best executive summaries in the nation. Ingram’s is often required reading for our journalists,” he said. Fast-forward a decade. Jack Cashill and I interviewed Mr. Forbes at the InterContinental on the Plaza, and I brought along a copy of Ingram’s 35th Anniversary edition from 2009. From about a foot above the table, I dropped the 200-pager. Thud! “That’s our January edition, Steve.” “There’s no damn way,” he said, not hiding his surprise. Each January since 1999, in years ending in 4 or 9, Ingram’s has pro duced the largest business publication in the nation. In January 2024, we intend to publish our biggest ever. A draft of the Table of Contents for Ingram’s 50th Anniversary edition is on the next page. Recently, I gave a presentation in Detroit to publishers on the subject of Anniversary and Special Editions. Yes, it’s unfair to have the Chiefs in our market, as we’ve become accustomed to producing Super Bowl editions, but they may compel us to produce yet another. Our colleagues were surprised at the ambitious plan for a 250-page publication. So I’d like to invite companies and organizations throughout the greater KC and bi-state business community to a birthday party. Ingram’s is knee-deep in planning for the biggest magazine in the publication’s history. On our to-do list in the run-up to that: We’ll celebrate the start of our 50th year by covering the enterprises and executives who have formed the backbone of many industry sectors. We’ll identify the key players of the past half-century—corporate and individual—in entrepreneurship, in business growth and job creation, in building the supporting infrastructure of industry. We’ll spotlight those responsible for major civic initiatives, along with leaders who took up the challenge of fulfilling those visions. We’ll explore how the foundations of commerce here have shifted, making Kansas City a center of excellence in life sciences, logistics, engineering, agribusiness and other fields. We’ll convene a General Assembly drawing from the ranks of the region’s most influential companies. Ingram’s Industry Outlook series will also return in full force with leadership from key sectors convening each month to align. And those are just for starters. While our own corporate milestone inspires this unprecedented effort, this isn’t about Ingram’s . It’s about those to whom this city owes a measure of gratitude, and a debt of thanks for gifting us a community that we see as brimming with possibilities. So what’s in all this for you? Well, for most of our history, we’ve focused on the realization of those possibilities for companies and individuals with our recognition programs that are key pillars of the editorial plan.

Like 40 Under Forty, introducing our executive readership to the younger talent now filling C-suites and leadership roles. Or Best Companies to Work For, our annual salute to organizations whose workplace design helps attract the best and brightest to the regional work force. Or Local Heroes and Corporate Champions (a personal favorite each December), showcasing the philanthropic spirit that sets KC apart from other cities. It’s likely that, at some point, your orga nization has been part of that suite of honors and awards. That makes you part of our story. On a more personal level, it’s made you part of our lives over the nearly three decades since Michelle and I bought the magazine and have served as architects to design these programs and serve as stewards of business success throughout our region. The opportunity to meet so many inspi rational figures, true titans of business, has been unique—I can’t think of another lead ership role in Kansas City that can match it. We’ve been blessed with the chance to create a product that serves all businesses not just with recognition awards, but with our core coverage of developments in key business sectors, with our industry ranking lists and business intelligence, with our hundreds, if not thousands of thought leaders who have served as guest authors for small business operations, finance, legal affairs and wealth management and more. This, then, is your invitation to jump on board the celebration wagon with the January 2024 50th Anniversary special edition and with Ingram’s programming strategy throughout our 50th year. It’s a once-in-50-years opportunity for companies to promote their brands as advertisers or as sponsors of various events throughout 2024. You’ll have a vehicle that serves other com panies, prospective clients and a new talent cohort, helping them understand your own corporate history and how it intertwines with this region’s broader successes. For many of you, this keepsake edition will let you reflect on the achievements that earned you, your company or members of your team a place in a very bright spotlight. Success breeds success; this will be your chance to put yours on display.

Joe Sweeney Editor-In-Chief and Publisher E | JSweeney @ Ingrams.com

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Special Edition 50

Draft of Ingram’s January 2024 Table of Contents Claim your Position! Contact JSweeney@Ingrams.com to learn about advertising and sponsorship opportunities. Coming in January 2024

th Anniversary

The 5

JANUARY 2024 • VOLUME 50, NO. 1

Features 12 Ingram’s Celebrates

151 Perspectives from Business Icons

Serious and funny stories from The Players

50 Years of Commitment to Commerce

167 Ingram’s General Assembly & Report The History of Kansas City Business 177 Ingram’s Awards and Their Value Proposition Why Ingram’s competitions and recognition programs matter 181 Kansas City 2074 A focus on the future from KC’s young er but mighty business executives. 187 Milestones Firms Celebrating Anniversaries in 2024 203 Corporate Profiles 50 Year and Older Firms Share your story on Ingram’s biggest stage 222 Corporate Profiles 1 and 2 page corporate profiles 241 Ingram’s Media Kit and 2024 Editorial & Planning Calendar

20 Legends

Since Ingram’s 25th Anniversary Edition in 1999, we’ve honored 90 of the KC area’s greatest business and community leaders. Get to know Ingram’s latest Legends. 43 Then & Now: 1974-2024 A photo essay of KC’s skyline and how it has changed over half a century. 48 Lost Landmarks and Enduring Icons What we’ve lost in half a century is irre placeable, but what we have architecturally will define KC for many decades to come. 55 Headlines and Big Stories Through the Years Year-by-year biggest stories and a time line every Kansas Citian should remember. 70 Charging Into the 50th Year Ingram’s is honored to serve as the steward of busi ness in KC and throughout Missouri and Kansas 75 50 Years of Front Covers The biggest business stories and issues in the Kansas City region since 1974 82 Business Climate Transformation Key industry sectors—then and now. 86 The Nexus of North American Trade 96 A Rich Entrepreneurial History (Psychological Makeup) Growth trends then and now 99 The 50 Biggest Business Deals of the past 50 years 107 The 50 Most Impactful Companies of the past 50 years 133 50 Biggest Players Of the past 50 years KC is uniquely positioned to be to precisely at the logistics crossroads of the nation. 92 Chiefs Dynasty The hottest franchise in professional sports.

Perspectives 4 Editor’s Note

Here’s to the First Fifty by Joe Sweeney 10 Readers’ Letters

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Coming in August 2023: Destination Missouri Do you have a business in Missouri, or do you do business in Missouri?

Editor-in-Chief & Publisher Joe Sweeney | JSweeney @ Ingrams.com Editorial Director Dennis Boone | DBoone @ Ingrams.com Senior Editor Jack Cashill | Editorial @ Ingrams.com Columnists Ken Herman Nate Heying Megan Kelly Nick Kohlhof Director of Sales Michelle Sweeney | MSweeney @ Ingrams.com Art Director Traci Faulk | Production @ Ingrams.com Contributing Photographer Matt Kocourek | Production @ Ingrams.com Copy Editor Nancie Boland | Editorial @ Ingrams.com Digital Editor Will Crow | WCrow @ Ingrams.com Researcher John Ward | JWard @ Ingrams.com Jaclyn Alcantara Damon Anderson Mindy Brissey

Destination Missouri is a data-driven look at the business conditions and lifestyle amenities that make Missouri a clear choice as a region to live, work and to invest and operate a business. It’s your best resource for under standing the Show-Me State’s thriv ing business climate. This issue is pub lished in collaboration with valued sponsors, and is distributed region ally and nationally. Contact us today to learn how you can get involved in Destination Missouri!

THE NEXUS OF NORTH AMERICAN TRADE & LOGISTICS | CENTER FOR LIFE, PLANT & HEALTH SCIENCES

MISSOURI’S BUSINESS MAGAZINE

Ingrams.com | August 2022

Destination Missouri Your Guide to Investing in Missouri

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Claim Your Position (ad or company profile) in Ingram’s 2023 edition of Destination Missouri. With your support we’ll continue to drive attention and investment to our great state of Missouri. Deadline is Thursday, August 10. For advertising opportunities or to become a sponsor, contact us at: 816.842.9994 • JSweeney@Ingrams.com

Advertising @ Ingrams.com Digital @ Ingrams.com Editorial @ Ingrams.com Production @ Ingrams.com Research @ Ingrams.com Subscriptions @ Ingrams.com

Coming in August 2023: The Missouri Edition & 50 Missourians You Should Know

Who are the most intriguing, interesting and relevant characters you know in Missouri (and Kansas)?

SHOW-ME PUBLISHING, INC.

President Joe Sweeney | JSweeney @ Ingrams.com Senior Vice President Michelle H. Sweeney | MSweeney @ Ingrams.com

Since 2011, Ingram’s has showcased these fascinating and accomplished citizens each year with our 50 Missourians (and 50 Kansans) You Should Know feature. Here’s your chance to recommend candidates for inclusion in our future editions of 50 Missourians and Kansans You Should Know .

2049 Wyandotte Kansas City, Missouri 64108 816.842.9994 Fax: 816.474.1111

Seeking Recommendations for 50 Missourians You Should Know Ingram’s August 2023 edition will include another impressive lineup of high achievers, unique personalities and characters from the Show-Me state. We’re Now Accepting Nominations!

Ingrams.com MISSOURI’S AND KANSAS’ DIGITAL BUSINESS MEDIA The entire contents of this publication are copyrighted © 2023 by Show-Me Publishing, Inc. with all rights reserved. Reproduction or use in any manner of editorial or graphic content without permission is prohibited. The magazine assumes no responsibility for unsolicited manuscripts. Ingram’s reserves the right of unrestricted editing of articles. Submissions must be in writing to be considered. Ingram’s (ISSN #1046 9958) is published monthly by Show-Me Publishing, Inc. at 2049 Wyandotte, Kansas City, Missouri, 64108. Price: $44.95 for one-year, $69.95 for 2 years and $99.95 for 3 years. Back issues are $5 each. Periodical postage paid at Kansas City, Missouri, and additional mailing offices. POSTMASTER: Please email address changes to JRyan @ Ingrams.com, fax to 816.474.1111 or mail changes to Ingram’s Magazine at 2049 Wyandotte Kansas City, Missouri, 64108.

2022 EDITION

2023 EDITION

Kansans You Should Know universities and non-profit organizations that are pushing the state’s economy forward. In doing so, they elevate the quality of life for nearly 3 million residents. Kansas, it’s been said, is small enough for everyone to know everyone else. Obviously, not true. But here are 50 people who, if you don’t know them, you should know about, because in many ways, they are touching your life today. From agriculture and aviation to zoonotic-disease research, Kansas is awash with companies,

Across nearly 70,000 square miles, more than 6 million people call Missouri home. Deeply diverse in culture, even harkening back to the Old South in some parts, they comprise a fascinating study in what makes a state tick. Bankers, educators, lawyers, farmers, elected officials, artists, athletes, humanitarians and more, they are all part of the rich fabric of life in the Show-Me State. Here are 50 of our finest.

written by Matt Smithmier and Dennis Boone

3/23/23 5:00 PM

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8/15/22 11:08 AM

50 Kansans 2023 Intro.indd 1

Help us set these select fields by submitting your recommendations on accomplished Missourians and Kansans. File online at www.Ingrams. com/Nominate , or send your nominations to: Editorial@Ingrams.com

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IN THE NEWS

Tidbits of Business News from Around the Region

MISSOURI CLAY COUNTY EDC Promotes SBA Loans

Cold-Storage Venture Planned Canadian Pacific Kansas City and Ameri cold Realty Trust have announced plans for a cold-storage distribution center along the rail system’s network. Officials with the new partnership say it will be the first facility of its kind in this market that will combine cold storage and value-added services with expe dited intermodal transportation to markets in the Midwest and Mexico. The news release announcing the deal did not specify the exact location for the new facilities or offer details on the size of those buildings, but officials said the site would play a key role in global food logistics.

will see the addition of 350 jobs, with con struction of a 1.5 million-square-foot facil ity expected to begin later this year. The site, which should be operational by 2025, is among the first facilities to join the KCI 29 Logistics Park, a 3,300-acre mega site as sembled by Hunt Midwest. Ace Hardware has increased its retail sales by $12 billion in the past 10 years and experienced 11 consecutive years of new domestic store growth, according to the company. Logistics Boom, Part II Also getting in on the logistics act surge is Block Real Estate Services, which in June secured city approval for its $365 million Tiffany Springs Logistics Park. Sprawling across nearly 281 acres near Interstate 29 and Tiffany Springs Road, the 3.72 million-square-foot park will include seven buildings ranging in size from about 423,000 to 755,000 square feet.

The Clay County Economic Develop- ment Commission is promoting its part- nership with Midwest Small Business Financing to provide commercial loans at interest levels comparable to residential mortgage borrowing. The EDC says it has loans available at 6.506 percent for 10 years, 6.41 percent for 20 years, and 6.32 percent for 25 years. The Kansas City Area Transportation Authority has voted to dissolve a non-profit organization set up in 2018 to promote devel opment, particularly along the Downtown Streetcar line. That came as the agency members voted to let a development agree ment expire with Live and Ride Partners KC. That spelled the end of plans for a 20-story apartment tower at 10th and Main, a project previously valued at $100 million. Childrens-KVC Team Up Children’s Mercy and KVC Health Systems have joined forces for a $53 million mental-health campus in Olathe, which will include 48 beds for pediatric patients and 24 for adults. The 72,700-square-foot campus, expected to open next year, will include six private courtyards, walking paths, dining, and activity space. The campus is estimated to have the capacity to care for more than 3,400 patients annually and will create approximately 150 new jobs. KC Rise Unveils New Fund KC Rise Fund has closed its third ven ture-capital fund, which will bring $34 million in new capital to fund technology startups in the Kansas City region. Like its two predecessor funds, KCRise Fund I and II, the latest installment aims to further build on the firm’s goal of investing in high-growth regional companies. Since its founding in 2016, KC Rise Fund has generated more than $90 million in assets under management, with investments in 48 portfolio companies. JACKSON COUNTY ATA Dissolves Partnership

PLATTE COUNTY Logistics Boom, Part I

Ace Hardware is adding a new retail support center to the Kansas City area and Correspondent News Updates from the Capital cities

Washington | Court Wrecks Biden Student-Loan Plan On a 6-3 vote, the U.S. Supreme Court rejected President Biden’s proposal to eliminate $400 billion in student loan debt held by 26 million Americans, ruling that the president lacked the constitutional authority to act without congressional approval. Biden had suggested that economic challenges during the early stages of the pandemic had created difficult circumstances for those in debt. In response, Biden said the White House would announce new actions to protect student loan borrowers, many of whom were in line for up to $20,000 in loan forgiveness under his original proposal rolled out before the 2022 elections. Jefferson City | State Reaps $1.7 Billion for Rural Internet The federal Department of Commerce’s National Telecommunications and Information Administration says Missouri will receive more than $1.7 billion through the Broadband Equity, Access, and Deployment program, part of the federal Infrastructure, Investment, and Jobs Act. That funding ranks as the third highest among all states, the District of Columbia, and five territories; Kansas, by contrast, received $451.7 million. Gov. Mike Parson said the cash infusion would build on the state’s recent $400 million investment in improved Internet con nectivity. It was part of the nearly $42.5 billion authorized for the BEAD program. Topeka | $43.5 Million to Support Child Care Addressing a slow-moving crisis exacerbated by the pandemic that began in 2020, the state says it will provide nearly $44 million to create more than 4,200 child-care jobs with 52 statewide organizations. The funding comes from the Child Care Capacity Accelerator grant program, which was designed to advance the rapid development of additional child-care slots statewide. In announcing the grants, Gov. Laura Kelly said the initiative would ensure “that families and communities have the support needed to fully participate in our growing economy.”

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IN THE NEWS

Tidbits of Business News from Around the Region

Honors Begin for New KCI Less than 90 days after the curtain rose on the single-terminal design of Kansas City International Airport, TravelAwaits has ranked KCI as the best in the country thanks to its artistry and design. The organization praised KCI for overall terminal design, glass infrastructure, inclusion of international and regional artists, and, of course, availability of barbecue. Others under consideration included international airports in Atlanta, Chicago, San Francisco, Minneapolis, Pho- enix, Baltimore, and Palm Springs. KANSAS DOUGLAS COUNTY Sales Taxes Plunge Sales taxes generated in Lawrence in April showed a year-over-year decline of roughly $17 million, which officials attribute in part to figures skewed in 2022 from a celebration after KU won the NCAA men’s basketball championship. That represented a 10 percent decline for the month.

JOHNSON COUNTY Panasonic Ripple Effect

on design and construction, and the plant is projected to begin operations in 2025. Beef from a packing plant in Nebraska will be shipped to the Olathe facility, where it will be further processed and shipped to the compa ny’s retail locations in the Midwest, including all of its 83 retail locations in Kansas. WYANDOTTE COUNTY Massive Gift for Cancer Center Bolstered by a $100 million gift from the Sunderland Foundation, the University of Kansas and The University of Kansas Health System are moving forward with the development of a new destination cancer center on the campus. Ground breaking for the first phase is expected in 2024. By the time it’s completed, the facility will consolidate operations from multiple metro-area sites, offering expanded space for patient care and cancer research. The Sunderland gift is the largest ever made by the Kansas City-based foun dation and is the largest lead gift in the university’s history.

One of the first major infrastructure improvements to support Panasonic Energy’s $4 billion battery plant in De Soto has broken ground—a $61 million expansion of 103rd Street near K-10 highway. Though paved, the current road carries traffic over just two lanes; it will be expanded to four lanes, with a divider, along with sidewalks, curbs, and gutters. It will run from Evening Star Road near the Douglas County line to K-10’s interchange at Lexington Road. Major Beef Plant to Olathe Walmart has received the green light to build a beef packing and distribution plant in Olathe, a $257 million project that it says will create nearly 675 jobs by 2027. The company plans to break ground this fall on the plant, which has a footprint of nearly 331,000 square feet and will entail more than 1,000 construction and design-related jobs. McCownGordon Construction has the lead

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BETWEEN THE LINES

Pointed Perspectives & Penetrating Punditry | by Jack Cashill

Custard’s Not-So-Last Stand

People, history, perspectives—there’s more to these soft-serve delights than the sum of their ingredients. During the early days of COVID-19, I found myself driving out to the hiking trails in Johnson County to avoid the lethargy inducing madness of a locked-down Kansas City. Just south of I-435 on State Line Road, I took heart in seeing a new building on the Missouri side actively under construction, despite the lockdown. When I realized that the building would be a stand-alone shop that sold only frozen-custard products, I began to wonder whether this was itself a form of madness. A stand-alone custard shop in the age of COVID? Of all the businesses in Kansas City, Andy’s Frozen Custard became my barometer for America’s future.

City Bishop Robert Finn and former Kansas attorney general Phill Kline. These three men were, respectively, Kansas’s bravest attorney general, the city’s most sensible mayor in memory, and the diocese’s most saintly bishop— probably ever. That they were then not only “formers” but pariahs gave me cause to worry about Kansas City’s future. At Cherry’s, I would occasionally see people of consequence. One day, for instance, Kansas City-born actor Chris Cooper walked by. He was alone. I thought of inviting him to sit down for some custard—my treat—but my history schooled me not to. One evening, years earlier, I passed Grandpa Munster on a street in Westport. Bizarrely, I re membered his name. “Al Lewis,” I said as though he were Dr. Liv ingstone and I, Henry Stanley. He looked at me as if I were deranged— I had merely been drinking—and kept on walking. After that, I chose to leave celebrities alone. I worried about the future of Cherry’s as I would about Andy’s. I could see that the Pakistani couple who owned and ran the place were struggling—seasonal shops seemed so fragile in deep-winter towns. It was a battle they were destined to lose, which, sadly enough, they did. In the days post-pandemic, I find myself worrying about all businesses, small businesses in particular. Driving past Andy’s, I reflexively looked to see how they were doing, especially during the custard un-friendly winter. To my relief, they seem to have found their market.

I have long had a weakness for custard. For years, when the weather permitted, I would walk to the Plaza at noon and eat my daily ration of frozen custard at a small table outside a small shop on Ward Parkway, “Cherry’s” by name. The custard was my lunch. If custard tastes better than ice cream, it is because it has more butterfat, which makes the product creamier when churned slowly. Fortunately, Cherry’s did not post calories on the menu. When it comes to eating, ignorance is bliss. I knew intui tively that the custard had enough calories to sustain me until dinner. I did not need to know any more than that. There is something communal about eating custard—or any ice cream product,

In the days post pandemic, I find myself worrying about all businesses, small busi nesses in particular. Driving past Andy’s, I reflexively looked to see how they were doing.

for that matter. I found myself reminiscing recently about Charley, the entrepreneur who drove his ice cream truck down our 100-kid strong street every spring and summer evening. At the sound of his bells, everyone came out and came together. I still remember all the options, especially the space age “torpedo” whose ice cream rose, as deodorant does, when pushed from below. Cherry’s was communal, as well. Sitting outside, people often stopped by. I remember meeting political guru Jeff Roe at the shop. Now running Ron DeSantis’ presidential campaign, he was a smaller shot than I at the time, smaller at least in influence. He had to come to me for a custard sit-down. Now? I’d be surprised if he took my phone call. One afternoon, soon after his re-election defeat, Mark Funkhouser stopped by. When he sat down to talk, I laughed. “You have completed my trifecta of the fallen.” I explained that earlier that morning, I had spoken successively to former Kansas

Jack Cashill Ingram’s Senior Editor P | 816.842.9994 E | Editorial @ Ingrams.com

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BETWEEN THE LINES

garish light, as subtle as a traveling carnival. You can’t miss it. You can either walk up or drive through, but you can’t really hang out there—no tables inside or out. That may be Andy’s defense against the sporadic madness of today’s Kansas City. As part of my journalistic commit ment, I went whole hog, ordering a Triple Chocolate Concrete. I gained 3 pounds just reading the description, “Andy’s chocolate frozen custard blended with chocolate chip cookie dough and melted chocolate chip.” The result was as decadent as prom ised, each spoonful a venial sin. I stopped after about six to save my waistline and my immortal soul. But Andy, please, we do not need to know the calorie count!

Andy’s, it turns out, is not so small a business. In fact, it is one of the great Missouri success stories of recent years. In 1986, John and Carol Kuntz opened their first shop in Osage Beach and named the business after their son. With his name already on the shop, Andy put his muscle into it. Originally from Raytown, Andy and his high school sweetheart, Dana, learned they could work together when scooping out custard for Mom and Dad. A hit at the Lake, the family expanded into Springfield in 1987 and remains headquartered there to this day. John died in 2008, but by the time of his death, the operation had already begun its move beyond Missouri. Today, Andy, wife Dana, and mom Carol own and/or franchise some 140 shops in 14 states from North Carolina to Arizona. I was well into this article when it dawned on me that my only connec tion with Andy’s was worrying about it.

Eating there, I realized, might just add a touch of authenticity. So venture there I did on a soft summer night.

I was well into this article when it dawned on me that my only connection with Andy’s was worrying about it. Eating there, I realized, might just add a touch of authenticity.

The Andy’s on State Line looks like the kind of place at which the Jetsons would have hung out, the future as envisioned in the past, all glass and

The views expressed in this column, which is also published online in the Heartlander, are the writer’s own, and do not necessarily reflect those of Ingram’s Magazine. Jack Cashill , Senior Editor, Editorial @ Ingrams.com

Your Vacation Home and Meeting Place at Pebble Bay Club and Old Kinderhook

315 Country Ridge Drive This large home includes 4 bedrooms, 10 beds, 3.5 baths, kitchen, dining . . . and much more! There’s a lot of dough rolled into this beautiful vacation rental lake home at 315 Country Ridge Dr., in more ways than one. The home was built by the Wolferman family from Kansas City, which is famous today for its gourmet English muffins. You may reserve this beautiful home as your vacation rental home at the lake. Your Home at the Lake

YOUR DESTINATION AT THE LAKE OF THE OZARKS Accommodations with up to 44 beds when

including this golf course home and Cottages 21 & 22 at Old Kinderhook and the lake home and hotel suites at Pebble Bay Club. Call for Special Rates/Group Packages Reserve Your Home at the Lake 816.679.1828 ■ JSweeney @ Ingrams.com www.OzarksVacationRentals.com www.PebbleBayClub.com

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REFLECTIONS

by Dennis Boone

At the Intersection of Business and Life

The View From a New Front Door

The jury is still out on our ROI, but the rebuilt KCI sure does make a good first impression. Full disclosure: I’m not the kind of passenger whom airlines look to for long-term revenue. Heck, I can’t even remember the last time I flew out of the old Kansas City International Airport’s three-ring configuration—it might have been as far back as 2011 on a family jaunt to Orlando. So I’ve never been one to lash supporters of the new airport with the familiar complaint about how convenient KCI has always been compared to what other cities have to offer. Wasn’t my place, I figured. And as long as I wasn’t being asked to help fund the $1.5 billion project as a non-flier, it seemed appro priate to let the traveling public drive civic sentiment on that kind of capital outlay. Nobody, then, was as surprised as I was to find myself heading into and out of the new airport not once, but three times in a span of five days last month. The first two were for a business publications conference in Detroit. Two days after returning, it was to send a starry-eyed teenager on her way to Nepal for one of those high school experiential sojourns

just … awful. Sure enough, some of the displays in the new terminal lived up to my disappointment in what passes for artistic talent these days. But some were truly eye-catching and very cool, such as Leo Villareal’s “Fountain” and Willie Cole’s “Ornithology.” The thing that impressed me most about this new design was that it al lowed for drop-off and pick-up right at curbside, just as the old KCI did, and the parking garage was almost as close to the terminal as any of those in the previous configuration. In fact, for the afternoon flight that carried my daughter out of town, I wangled an open parking spot directly adjacent to the traffic lanes separating us from the terminal. In and out in less than 20 minutes, and that included a stop for bottled water and waiting for her to clear security. A sample of one isn’t a good statisti cal measure for drawing deep insights, but I have to tell you: After seeing what Detroit has going for it—and it’s a fine airport—Kansas City has claimed its place in the major leagues. Is it enough of an advancement to compel South- west Airlines—far and away the dom- inant player in this market—to bring more connecting flights here or add new routes? The leadership has hinted at both. We’ll see. Further out will be the business attraction aspects. I’ve never put much stock in claims that companies reliant on corporate travel were hesitant to locate operations here because of the shoddy predecessor terminals. I’ll look forward to the news releases of those recruiting successes in the email inbox, but I won’t be holding my breath. Given the experience that is mod ern-day air travel on the plane itself, I’ll not weep if I never have to set foot on one again. It’s nice to know, though, that if I do, the convenience factor—as we’ve made part of our Kansas City history and as it exists now—will still differentiate travel into and out of town. To all involved: Well done.

that incorporate an aspect of service, like build ing schools or teaching introductory English. (How that’s done by someone who speaks not a lick of Nepalese is a mystery to me, but that might explain the hefty price tag for the “experience.”) Annnywaaaay … the verdict is in: We have a winner. The folks who did KCI—Edgemoor Infrastructure & Real Estate as lead devel oper, the partnership that included hometown Clarkson Construction, the city’s aviation department—they all smacked this one out of the park. Hitting KCI before 5 a.m. on a Saturday morning for the initial trip, I wasn’t expecting

One of the most welcome aspects of this new design was that it allowed for drop-off and pick-up right at

curbside, just as the old KCI did.

anything near the crush of humanity overrunning the TSA checkpoints. Remarkably enough, those agents dispatched their duties with surprising efficiency, quickly sending people on the way to their gates. (Buy me a beer sometime, and I’ll tell you about clearing security when your wallet and all iden tification are 30 miles away, at home. It can, however, be done without loss of blood or sinew.) My biggest concern over the pro-rebuild faction has always been what I saw as a misguided focus on “passenger experience.” I don’t go to the airport to dine or shop. I don’t know anyone who does. I do know the post-security restroom situation was abysmal before this. Even 12 years later, some memories bear mental scars. I’d also cringed at the thought of capital outlays for art. By and large, I think the market ought to set the value proposition of public art. If it did, we wouldn’t see so much of it that is

Dennis Boone is the edito rial director at Ingram’s. E | DBoone @ Ingrams.com P | 816.268.6402

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IN A NUTSHELL

by Ken Herman

Still No Recession in Sight

After 18 months of steady increases, where will the Fed go next with rates?

yields), has become even more inverted of late, registering at -106 basis points at last count. Even at that, many bond experts are saying that we are still in “lucky” territory, as this is not yet a sign of an imminent recession. In verted yield curves basically choke off the flow of credit in the economy as the classic “borrow short, lend long” mantra of U.S. banks will not work well if short-term funding costs become too expensive. People say inverted yield curves cause recessions due to this choke- hold on credit. This time around, though, due to the shortage of work ers in the economy, we are seeing remarkable resilience in economic performance, despite the fastest mon- etary tightening in Fed history. If this turns out to be a soft landing (due to the belated nature of the Fed

Recent data revealed an economy humming along at a modestly more respectable pace than figures had suggested just a few weeks ago. In its third estimate of GDP, the De partment of Commerce reported that U.S. economic growth expanded by 2.0 percent in the second quarter of 2023 compared to the previous year. This was revised from its previous estimate of 1.3 percent and exceeded economists’ expectations of 1.4 percent. The change reflected upward revisions to exports and consumer spending, offset by downward projections of non- residential fixed investment and government spending. This news pushed U.S. Treasury yields higher and further widen ed the inverted yield curve, while the stock market ended the quarter broadly higher. Where the bears can run into trouble is if the FOMO— Fear of Missing Out—psychology starts to take hold, chang ing the notion or fear that what once appeared to be a cer tain recession is not in the cards. There remains a mountain

of cash in money markets and short-term Treasuries that could start to find its way into equities if 5 percent yields do not satisfy investors. A Question of Pressure Even for one of the most unpopular rallies of the past several years, the pres sure to get into stocks can sometimes ex ceed the pressure to stay out. I would think that the phones at bearish equity desks at firms like Morgan Stanley and Bank of America were burning up, especially in recent days, as the quarter ended on a powerfully bullish note.

monetary tightening and the need to tighten more due to this belated ness), Powell will look very good again. We may not know if the econ- omic landing is soft for up to an other year. In 2006, the last rate hike was in the summer of that year, before the recession trig-

We are seeing remark able resilience in economic performance, despite the fastest monetary tightening in Fed history.

gered by the tightening cycle started in December 2007, an 18-month lag. Summers are not known for sharp rallies but more for consolidating mar- kets, even though there are no signs yet that this phase of the rally is over. This rally can keep going if we get lower inflation numbers and another Fed rate pause that turns into a stop. It would be wise for the Fed to pause again, but if Jerome Powell is not careful (with his Paul Volcker wanna be act), he may yet deliver the rate- hiking straw that breaks the camel’s back.

The thing about bearish predictions is that they always seem to come true at some point. But the timing of forecasting a meltdown may encompass many weeks, months, or even years down the road. There is still a great deal of cash sloshing around the globe. As of mid-June 14, the Fed’s assets stood at $8.4 trillion. And then there are the rest of the G-8 central banks and their bloated balance sheets. Money goes where it is best served. With so little action in the IPO space to soak up excess liquidity, there looks to be room for the market to continue its advance and lift most boats, especially for well-managed companies. The yield curve is as inverted as it gets. The yield curve, as measured by the two-year note and 10-year note (Treasury

Ken Herman served as the Managing Director of Bank of America Global Capital Markets and was the Mayor of and served on the City Council in

Glendora, Calif. E | Editorial@

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SMALL BUSINESS ADVISER

by Mindy Brissey

Recognizing the Role of Veteran-Owned Businesses

When we support these vital enterprises, we’re making an investment in our own future. The strength of any nation, in many respects, lies in the vibrancy of its economy, which in turn, is largely driven by the energy of its small businesses. As we navigate the complexities of a post-pandemic world, it is essential to recognize the crucial role that veteran-owned small businesses play in our economy. They are not just an important component of our economic machinery; they are the lifeblood of our communities and a testament to our commitment to those who have served. Veterans bring a unique set of skills and experiences to the entrepreneurial landscape. The attributes fostered during military service—discipline, perseverance, leadership, and the ability to work under high-stress situations—translate well into the world of business. In fact, as of September 2021, veteran owned firms represent about 9.1 percent of all U.S. businesses, together generating more than $1 trillion in receipts and employing nearly 5.8 million individuals. However, despite their potential, the businesses often face considerable challenges. Access to capital, gaining a foothold in competitive markets, and navigating complex regulatory landscapes are but a few of the hurdles that veteran entrepren eurs often encounter. It is in addressing these challenges that we, as a society, must make a concerted effort. Under the leadership of Administrator Isabella Casillas Guzman, the SBA announced $3.5 million in grant awards to support outreach organizations focused on veteran small bus inesses. The grants have been used to create new Veterans Business Outreach Centers in Alaska, California, Colorado, Iowa, Nebraska, Nevada, and South Carolina. The expansion of the VBOC program from 22 to 28 locations ensure that all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, and American Samoa have access to these services. This expansion aims to extend support to a greater number of transitioning service members, veterans, National Guard and Reserve members, and military spouses. By aiding them in initiating and developing their businesses, the administration is also fostering economic growth. The SBA and VBOC offer a variety of support services for veteran entrepreneurs, but we need to ensure these resources are reaching the people who need them most. The SBA’s Office of Veterans Business Development provides access to capital and preparation for small business opportunities, as well as connections to federal procurement and commercial supply chains. In addition, the SBA offers various funding programs specifically for veteran-owned businesses, such as the Military Reservist Economic Injury Disaster Loan Program, which pro vides funds to help an eligible small business meet its ordinary and necessary operating expenses that it could have met, but is unable to, because an essential employee was called-up to active duty in his or her role as a military reservist. Moreover, the SBA runs specialized entrepreneurship train- ing programs for veterans, including Boots to Business, which

offers entrepreneurship training to vet- erans globally. Other programs are tailored for specific groups within the veteran community, such as the Wom- en Veteran Entrepreneurship Training Program for women veterans and the Service-Disabled Veteran Entrepreneur- ship Training Program for service-dis abled veterans. Supporting veteran-owned small bus inesses is an investment in our future. Their success can lead to job creation, driving down unemployment rates and fueling economic growth. They stimulate local economies, fostering community development and promoting a cycle of prosperity that benefits us all. Furthermore, supporting these bus- inesses is also a matter of equity. Veter ans have risked their lives to protect our freedoms. They have made sacrifices that most of us cannot even begin to comprehend. It is our duty to ensure that they have the opportunities they need to thrive in their post-military lives. Government policies and initiatives are critical, but they are not enough. We must also foster a culture that values and supports veteran entrepreneurship. This means encouraging private sector involvement, from large corporations to individual consumers. This can take various forms, from prioritizing veteran owned businesses in procurement pro- cesses to consciously choosing to pat ronize these businesses as consumers. Financial institutions can play a significant role as well. By providing favorable lending terms, they can alle viate some of the financial challenges that veteran entrepreneurs often face. Mentorship programs can also play a key role, helping veterans navigate the complex world of business and offering advice on everything from marketing strategies to financial planning. The importance of supporting vet eran-owned small businesses cannot be overstated. They are not just businesses; they are a testament to the resilience of those who have served us. As we navigate the complexities of the post-pandemic world, we must make a concerted effort to support these businesses. The strength of our economy—and our commitment to those who have served—depends on it.

Mindy Brissey is the SBA’s Region 7 Administrator based in Kansas City. P | 817.527.8836 E | Luis.SantosSerrano @sba.gov

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