AMANA, IA-- The Amana Society members will gather

Monday for their annual meeting, giving them a chance to see in

action the former utility company executive who now is their chief

executive officer and president.

John Peterson, 55, once an Alliant Energy Company executive,

took over the top job for the society in January.

About 700 descendants of the orginal Amana settlers who own

shares in The Amana Society are expected at the meeting. They are

owners of a diverse group of businesses on 26,000 acres 15 miles

northwest of Iowa City. The society has was profitable in 2007

after losing money the previous two years.

The society doesn't divulge income or details of earnings, but

Peterson said higher prices for corn and soybeans helped the

society's 8,000 acres of farm land bring in more money last year.

Peterson said expansion of the society's successful business

lines can be expected in the future. New businesses may also be

recruited to move into the area, where tourism plays a significant

role in the region's financial success.