Kenneth Eugene Stone

Dr. Kenneth Eugene Stone, a retired U.S. Army Colonel and Professor of Agricultural Economics at Iowa State University, passed away on February 16, 2026, at the age of 90. He was the oldest child of Hamer and Martha (Faltemier) Stone and was born near Noble, Illinois, on February 16, 1936.

Dr. Stone attended Newton Community High School in Newton, Illinois, graduating in 1953. He earned a B.S. in Agricultural Engineering from the University of Illinois at Champaign-Urbana in 1958, attending college on a U.S. Army ROTC scholarship. He was commissioned as a Second Lieutenant in the U.S. Army and entered active duty in 1959. He graduated from paratrooper training at Fort Benning, Georgia, and was accepted into flight school at Fort Rucker, Alabama, earning his aviator wings in 1960.

Dr. Stone served two tours of duty in Vietnam. His first tour, from 1962–1963, involved flying the OV-1 Mohawk fixed-wing aircraft. His second tour, from 1966–1967, was spent flying UH-1 “Huey” helicopters. During his combat service, Dr. Stone earned numerous military honors, including the Silver Star, the Distinguished Flying Cross (two awards), the Bronze Star for Valor (two awards), and the Air Medal.

In 1968, Dr. Stone left active duty and joined the U.S. Army Reserve, where he served for an additional 18 years. He retired in 1986 at the rank of Colonel (O-6), having served his final three years as Commandant of the U.S. Army Reserve School in Des Moines, Iowa.

Following his military service, Dr. Stone pursued advanced education. In 1971, he earned a Master of Science in Management Science from Texas Christian University. In 1976, he received a Ph.D. in Agricultural Economics from the University of Illinois. He subsequently joined the faculty at Iowa State University as an agricultural and Extension economist, eventually attaining the rank of full professor.

Dr. Stone’s academic expertise centered on community economics and retail trade. In the early 1990s, he conducted one of the first comprehensive studies examining the economic impact of Wal-Mart on small-town businesses in the state of Iowa. At a time of rapid national expansion for Wal-Mart, his research and insights were widely respected and in high demand. As a result, Dr. Stone presented his findings at hundreds of seminars, speaking in all 50 U.S. states and internationally in Canada, Australia, New Zealand, Brazil, Mexico, Czechoslovakia, Puerto Rico, and China.

Dr. Stone was also an accomplished book author, writing his signature work entitled “Competing with the Retail Giants”, which was eventually translated into both Chinese and Japanese. He also wrote an autobiography entitled “I’m a Lucky Guy” which details his life from humble beginnings in Southern Illinois to his marriage, his time in Vietnam, and his family.

Throughout his academic career, Dr. Stone received numerous honors, including the American Agricultural Economics Association Distinguished Extension Program Award, the Iowa State University Regent’s Faculty Excellence Award, the Foundation Award for Career Achievement in Outreach, the University Extension Meritorious Service Award, and the State of Iowa Governor’s Volunteer Award, among others.

Dr. Stone retired from Iowa State University as Professor Emeritus in 2004. He and his wife fulfilled a longtime dream by purchasing a home in Corpus Christi, Texas—a dream inspired by witnessing a beautiful sunrise while flying for the Army during his active-duty service. From 2004 until 2019, they spent their summers in Iowa and their winters in Corpus Christi, where they enjoyed being closer to their grandchildren and where Dr. Stone took great pleasure in his daily walks along Corpus Christi Bay. In 2019, Dr. Stone and his wife Jan moved to San Antonio, Texas to be closer to family.

Most importantly, Dr. Stone was a devoted son, brother, husband, father, and grandfather. He is survived by his beloved wife of 61 years, Janis Kay (Finley) Stone, whom he married on February 13, 1965; two sons, Kenneth Eric Stone (and his wife, Felicity) of San Antonio, Texas, and James Paul Stone of Katy, Texas; and five grandchildren: Marissa Kaiya, Collin Kenneth, Jason Paul, Ava Lydia, and Hayden Mitchell Stone. He is also survived by his sister, Mary (Stone) Weber of Novato, California, as well as numerous nieces and nephews.

He was preceded in death by his parents, Hamer and Martha Stone; four brothers, William, Edward, Ted, and Patrick Stone; and a sister, Shirley (Stone) Kraus.

A memorial service and burial honoring Dr. Stone will be held at a date to be determined. In lieu of flowers, the family suggests honoring Dr. Stone’s legacy by supporting the Vietnam Helicopter Pilots Association scholarship program (www.vhpa.org) or the Vietnam Center and Archive at Texas Tech University (1601 E Lamar Blvd, Suite 117, Arlington, TX 76011 https://www.vietnam.ttu). The VHPA provides two options: to donate to a scholarship program for children/grandchildren of Vietnam helicopter pilots, or to the Vietnam Center and Archive at Texas Tech University, Lubbock, Texas (https://www.vietnam.ttu.edu/). . Alternatively, contributions may be made to the Iowa State University Foundation (https://www.foundation.iastate.edu/s/give).