Economy & Innovation | St. Louis Public Radio

Economy & Innovation

News about the economy, business, and innovation happening in the St. Louis region.

This article first appeared in the St. Louis Beacon: July 22, 2008 - The beleaguered banking giant Wachovia Corp. cut its dividend to near invisibility Tuesday as it posted a record second-quarter loss and said it would fire 6,350 workers. It also will eliminate 4,400 open positions and contractors. However, thanks in part to its acquisition of A.G. Edwards last year, one of the bright spots in Wachovia's financial picture was its brokerage business.

Bits of glass covers a sidewalk in downtown St. Louis after people broke windows on Sunday. (Sept. 17, 2017_
Ryan Delaney | St. Louis Public Radio

The numbers aren’t in yet, but recent protests over the Jason Stockley verdict are clearly hitting the St. Louis region financially.

Two major concerts, U2 at the Dome at America’s Center and Ed Sheeran at Scottrade Center, were canceled on Saturday and Sunday. That meant a combined 100,000 concertgoers who were not in downtown St. Louis.

Head shot of Chuck Knight
Fleishman-Hillard

Charles F. Knight, whose forceful personality and business acumen transformed Emerson from a successful, domestic manufacturer of motorized electrical products to a global technology giant, has died. He was 81.

When he was named CEO of Emerson at age 37 in 1973, he became the youngest person to lead a billion-dollar company. He retired nearly three decades later and had helped convert Emerson into a company that had more than $15 billion in annual revenue.

The Mississippi River as seen Sept. 13, 2017, from the Four Seasons Hotel in Laclede's Landing at St. Louis.
Chelsea Hoye | St. Louis Public Radio

Leaders of Mississippi River communities want to update and upgrade their infrastructure, but said Wednesday they’ll need outside financial help.

The Mississippi River Cities and Towns Initiative held its annual meeting in St. Louis. About 30 mayors were there to talk about how their communities can survive natural disasters like hurricanes Harvey and Irma. The mayors also discussed strategies for attracting private investments for city improvements.

Amazon's shipping operation, known as a "wish fulfillment center,'' in Edwardsville.
File photo | Jo Mannies | St. Louis Public Radio

Amazon’s announcement of plans to build a second headquarters in North America has city leaders throughout the continent expressing interest in putting together a competitive bid.

The company’s new headquarters would amount to more than $5 billion in spending and house as many as 50,000 employees.

Amazon shipping center in Edwardsville
Jo Mannies|St. Louis Public Radio

St. Louis Mayor Lyda Krewson says the region is planning to make a “competitive bid” to bring Amazon’s second headquarters here.

The company said Thursday that it will spend more than $5 billion to build another headquarters in North America to house as many as 50,000 employees. It plans to stay in its sprawling Seattle headquarters and the new space will be "a full equal" of its current home, said founder and CEO Jeff Bezos.

State Sen. Jamilah Nasheed holds up a petition at a rally at Urban Chestnut Brewing Company on Monday. Raise Up Missouri is gathering signatures to put a statewide $12 an hour initiative on the ballot. Aug. 28, 2017
Carolina Hidalgo | St. Louis Public Radio

Updated at 4:30 p.m. with details from rally — Several elected officials across Missouri endorsed an effort Monday to raise the state's minimum wage. Their backing came the same day that St. Louis' $10-an-hour minimum wage, in effect since May 5, dropped to $7.70 an hour due to a new state law. 

The Fashion Incubator takes up 7,500 square-feet of a Washington Avenue building on what used to be known as Shoe Street USA.
Wayne Pratt | St. Louis Public Radio

Updated Aug. 28 with resignation of Fashion Fund's executive director - The St. Louis Fashion Fund is looking for a new executive director. Eric Johnson has resigned after roughly a year-and-a-half on the job. A statement from the nonprofit says Johnson is leaving to pursue other entrepreneurial opportunities.

The Wanamaker Trophy outside the gates of Bellerive Country Club in Town and Country. The trophy goes to the winner of the annual PGA Championship. The 100th edition of the tournament is next year at Bellerive.
100th PGA Championship.

A major sporting event in St. Louis next summer will give the region worldwide attention. The 100th PGA Championship will take place at Bellerive Country Club in Town and Country.

The PGA's tournament director, Barry Deach, has set up office at the club. He recently spoke about the potential impact, preparations, partnerships and how the event goes beyond the course, thanks to initiatives that will benefit the community for several years.

Rici Hoffarth | St. Louis Public Radio

Amazon began capturing state sales tax for purchases in Missouri this year.

The voluntary move preceded the online retailer’s announcement in July that it would open a distribution center in Hazelwood. Without a physical presence in the state, many online retailers don’t charge a state tax to Missouri customers.

Instead, the onus is put on consumers.

WOW air, which will start flights in St. Louis next year, was launched in 2011by Icelandic entrepreneur Skúli Mogensen.
BriYYZ | Flickr

The St. Louis region is about to get a direct link to Reykjavik. Iceland-based WOW air will begin four flights a week between St. Louis Lambert International Airport and Keflavik International Airport in May. From there, passengers can go on to European cities including Berlin, Paris, and London.

Good Life Growing operates 20 "hoop houses," which are a kind of greenhouse.
File photo | Provided | James Forbes

An urban farming nonprofit is the winner of a competition for a free restaurant space in St. Louis’ Old North area.

James Forbes and his partners at Good Life Growing will open Old North Provisions, a restaurant, grocery store and co-op at 2720 N. 14th St.

They’ll offer their own and other local produce on store shelves, a buffet line and take-out packages. Forbes said his operation will provide an alternative to neighboring Crown Candy Kitchen, known for its ice cream and hearty sandwiches.

The city of St. Clair, Missouri, is issuing permits to help keep some order when it comes to parking as thousands arrive for the eclipse.
Wayne Pratt | St. Louis Public Radio

Jason Alexander's family has owned the Budget Lodging Hotel in St. Clair, Missouri, for nearly three decades. During that time, only one event has sparked a customer to book a room years in advance.

File photo | St. Louis Public Radio
File photo | St. Louis Public Radio

Updated at 8:45 p.m. Aug. 16 with a statement from Uber — Uber and Lyft will now be able to pick up passengers at St. Louis-Lambert International Airport.

St. Louis Mayor Lyda Krewson, Comptroller Darlene Green and Board of Aldermen President Lewis Reed all voted on Wednesday to authorize permits for ride-hailing companies, which cost $15,000 for two years.

Maria Altman | St. Louis Public Radio

Estie Cruz-Curoe knows black beans.

The Cuban native came to the United States in the early 1960s and grew up in Miami, where her mother added a Cuban mix of spices to canned black beans. But when Cruz-Curoe moved to the Midwest as an adult, she could no longer find the right black beans.

Crystal Martin, Haley Shoaf and Tamarah Usher discuss  the challenges women in the tech and startup world face.
Kelly Moffitt | St. Louis Public Radio

Last week, news began circulating of a controversial internal memo, written by a former senior software engineer at Google, titled “Google’s Ideological Echo Chamber,” which called for Google to replace diversity initiatives with “ideological diversity” initiatives.

A Southwest Airlines jet in St. Louis
St. Louis Lambert International Airport

The St. Louis branch of the NAACP is calling on Southwest Airlines to address complaints by African-American employees of discrimination at St. Louis Lambert International Airport.

Adolphus Pruitt, president of the St. Louis branch, said Thursday that the NAACP wants Southwest to provide information on who the company had hired, fired, disciplined or transferred in the last seven years, by race and gender.

Metro's newly-renovated downtown transit center will include round-the-clock security inside the new commuter waiting area.
Wayne Pratt | St. Louis Public Radio

Safety improvements and better bus access are some of the key components of the newly-renovated Civic Center Transit facility across from Scottrade Center in downtown St. Louis.

Metro is taking the wraps off the $10.5 million project this week. The center had been home to nine MetroBus bays for a total of 16 routes. The renovation increases the number of buses that will converge at 14th and Spruce.

"18 total bays, 23 bus routes. The opportunity for para-transit - the Call-A-Ride vans- to come in and out," Metro Executive Director Ray Friem told St. Louis Public Radio.

Emily Lohse-Busch received her M.B.A. from DePaul University and launched a strategic communications business in Chicago.
Carolina Hidalgo | St. Louis Public Radio

The new executive director of an initiative designed to attract startups to the St. Louis area brings a mix of national and local experiences to the position.

Emily Lohse-Busch recently took the helm of Arch Grants after serving as a senior director with Global Impact, a Washington, D.C.-based organization that supports international nonprofit groups. She also worked for a consulting firm in Chicago, specializing in dealing with the nonprofit sector. 

Provided: Ameren

Seven startup companies are taking part in the inaugural Ameren Accelerator program, which began this week in the St. Louis innovation district Cortex.

Ameren Corporation CEO and President Warner Baxter said bringing the utility together with startups will spur innovation that will ultimately help customers.

“They’re going to bring some technologies that we’re going to be able to study to see how we can do things around energy efficiency, how we can make the grid smarter, how we can make the grid more secure,” Baxter said.

Deborah Ruffin speaks to the press about Clean Sweep and the effort to clean up her Hamilton Heights neighborhood.
Maria Altman | St. Louis Public Radio

A grass-roots effort to clean up some north St. Louis neighborhoods is holding an event this weekend.

Clean Sweep will tackle the Hamilton Heights and Wells Goodfellow neighborhoods and parts of the city of Pagedale, in St. Louis County, on Saturday. Better Family Life and Habitat for Humanity organized the effort, the second such clean-up event.

This article first appeared in the St. Louis Beacon: May 29, 2008 - The Shawn Hornbeck Foundation -- which had been under public scrutiny for its failure to file an annual report with Missouri officials -- has ignored multiple requests over the past two years to supply financial and other information to the St. Louis Better Business Bureau.

"It certainly raises questions in our mind," said Jim Judge, who oversees the BBB's Charity Information Service here.

A bartender pours a beer at Charleville Brewing Co. & Tavern on June 27, 2017.
Carolina Hidalgo | St. Louis Public Radio

 

Linking modern-day St. Louis to the region's brewing heritage has become a priority for the St. Louis Brewers Guild. Plans are in the very early stages, but the organization is trying to launch a museum to highlight the connection between the city and breweries.

"The logical big-picture idea is to have a brick and mortar that functions as basically a welcome center for the entire brewing industry," Guild Executive Director Troika Brodsky told St. Louis Public Radio.

Most of the operations at Granite City Steel were put on hold in early 2016.
Paul Sableman | Flickr

 

Updated July 27 with comments from U.S. Steel CEO - New leadership at U.S. Steel is linking the outcome of a federal trade case to the potential resumption of steel-making at the company's Granite City plant.  Chief Executive Officer David Burritt says strong action by the Trump administration following a probe into unfairly-priced steel imports could lead to further revival of the Metro East operation.

File photo | St. Louis Public Radio
File photo | St. Louis Public Radio

St. Louis Lambert International Airport doesn’t have the crowded terminals of a hub, but things have been looking up.

Last year, nearly 14 million passengers came through the airport, a 10 percent increase over 2016 and the most passengers since 2008.

“We’re pretty pleased with the direction,” said Airport Director Rhonda Hamm-Niebruegge.

The numbers poured in at a recent Airport Commission meeting.

Kimberly Springer, St. Louis Public Radio's Engagement Producer, discussed the world of virtual reality in journalism on Behind the Headlines.
Kelly Moffitt | St. Louis Public Radio

This week, St. Louis on the Air host Don Marsh took a look at the burgeoning field of virtual reality from a business perspective. On Friday's "Behind the Headlines," St. Louis Public Radio Engagement Producer Kimberly Springer brought a journalistic perspective to the discussion.

The former Buster Brown Blue Ribbon building is slated for demolition as part of the development project for the NGA. It sits just north of Cass and Jefferson avenues
File photo | Carolina Hidalgo | St. Louis Public Radio

Premier Demolition, a local minority union contractor, has been awarded a $311,000 demolition contract to help pave the way for construction of the National Geospatial-Intelligence Agency West campus on the near north side of St. Louis, the mayor’s office stated on Friday.

Premier will demolish the Buster Brown Blue Ribbon Shoe Factory, a building constructed around 1900 when St. Louis was one of the nation’s largest shoe manufacturing cities. Pre-demolition began this week.

A bartender pours a beer at Charleville Brewing Co. & Tavern on June 27, 2017.
Carolina Hidalgo | St. Louis Public Radio

The popularity of craft beer is helping urban neighborhoods throughout the country that had been written off, including some in the shadow of beer giant Anheuser-Busch in St. Louis. Those who are heavily-involved in the city's beer scene hold up Urban Chestnut's foray into The Grove and Schlafly's opening in Maplewood as prime examples of how a brewery can become a key element of a community and lead to a revival.

Susannah Lohr | St. Louis Public Radio

A report from a national organization is recognizing BioSTL as a model for other cities looking to build on their own industrial and research strengths.

The Initiative for Competitive Inner Cities’ report “Building Strong Clusters for Strong Urban Economies” focuses on four case studies from cities around the country.

has eight KC-135 Stratotankers. The planes can carry 33,000 gallons of fuel. June 2017
Maria Altman, | St. Louis Public Radio

The steel gray KC-135 Stratotankers are massive.

The Boeing jets, first deployed way back in 1956, can carry up to 83,000 pounds of cargo with the thrust of four turbofan engines.

The plane is also capable of carrying 33,000 gallons of fuel and off-loading it in mid-air.

That’s the primary mission of the Illinois Air National Guard’s 126th Air Refueling Wing, assigned to Scott Air Force Base, near Belleville.

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