Economy & Innovation

Patriot Coal
3:02 pm
Mon June 17, 2013

Miners Rally Again To Protest Patriot Coal Bankruptcy

UMWA members and supporters protest in downtown St. Louis on June 17, 2013. This was the first rally since a Patriot Coal bankruptcy ruling allowed the company to change retirees' health benefits.
(Rachel Lippmann/St. Louis Public Radio)

More than a thousand United Mine Workers of America members were back in St. Louis on Monday, the latest in a series of protests against Peabody Energy and its handling of their  retirement and health care benefits.

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Fracking
2:15 pm
Mon June 17, 2013

Gov. Quinn Signs New Fracking Regulations

The Illinois Capitol building in Springfield, Ill. (via Flickr/jglazer75)
(via Flickr/jglazer75)

Illinois Gov. Pat Quinn signed legislation Monday giving the state the nation's strictest regulations for high-volume oil and gas drilling.


In a news release, Quinn says the law will "unlock the potential" for thousands of jobs in southern Illinois while protecting the environment. Quinn's signature was expected after the measure sailed through the Illinois Legislature.

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Economic development cooperation
4:38 pm
Fri June 14, 2013

Economic Development Merger Clears Another Hurdle

St. Louis County Executive Charlie Dooley and Mayor Francis Slay on February 22, 2013, after announcing plans to partially merge economic devleopment functions.
(Maggie Crane)

St. Louis City and County are a step closer to merging some of their economic development functions.

The St. Louis Board of Aldermen on Friday sent their version of the agreement to Mayor Francis Slay, who's expected to sign it. The St. Louis County Council will take a final vote on its measure on Tuesday.

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Economy
12:01 pm
Thu June 13, 2013

Patriot Coal Denies Walking Out Of Talks With Mine Workers Union

UMWA President Cecil Roberts speaking earlier this year before a rally. Roberts has said he would not recommend miners agree to the terms approved by a federal bankruptcy judge in May.
Credit Chris McDaniel, St. Louis Public Radio.

Updated 6:15 p.m.


UMWA tweeted this afternoon that they and Patriot have "agreed to return to the bargaining table next week."


Original Story:


St. Louis-based Patriot Coal officials deny that the company "walked out" of talks with the United Mine Workers of America earlier this week.

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Patriot Coal
5:11 pm
Wed June 12, 2013

United Mine Workers Union Says Patriot Coal Walked Out Of Negotiations

Miners from across the country marching down Market St. in downtown St. Louis on Jan. 29. They protested a Peabody Energy/Patriot Coal plan to cut pension and health care programs following Patriot's bankruptcy.
(Adam Allington/St. Louis Public Radio)

The United Mine Workers of America say negotiators from St. Louis-based Patriot Coal walked out of talks Tuesday setting the stage for a possible strike.

The bankrupt company and the union were trying to come to an agreement even after a federal judge ruled in favor of a plan Patriot put forward to reduce costs.

UMWA spokesman Phil Smith says Patriot will now put that plan in effect July 1, including wage cuts for active miners and changes to health benefits for 23,000 retired miners and their families.

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Startups
8:00 am
Wed June 12, 2013

Update: Investments In St. Louis Tech Startups Nearly Doubled In 2012

Flickr: Randy Pertiet

Updated 6/13 4:56 with news of entrepreneur fund.

Business leaders and St. Louis City and County officials met today (Thursday) to announce a new effort to support entrepreneurs in the area.

The goal is to raise $100 million over the next five years.

The announcement comes on the tail of a recent report that found last year was a record-breaking year for St. Louis tech startups, which brought in $30 million dollars in investments.

St. Louis County Executive Charlie Dooley said the $100 million goal is bold, but doable.

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Business
12:01 pm
Wed June 5, 2013

St. Louis-Based Nestle Purina To Purchase Petfinder

A view of Nestle Purina's building in St. Louis.
(via Flickr/pasa47)

Nestle Purina PetCare Co. has agreed to buy Petfinder, the online pet adoption website, from Discovery Communications LLC.

The St. Louis-based company announced the purchase Wednesday. Terms were not disclosed.

Nestle Purina says the deal, to be completed in July, will allow it to broaden support for pet welfare organizations and strengthen its role as a leading provider of online pet-related information.

St. Louis on the Air
5:00 pm
Tue June 4, 2013

Military Readiness, Local Economy A Concern As Scott AFB Deals With Impacts Of Sequestration

The KC-135 is an aerial refueling tanker. The aircraft is critical to the operations at Scott Air Force Base
(via Flickr/KurtClark)

About 5,100 civilian workers at Scott Air Force Base in Illinois are being forced to take-off 11 unpaid days, as are civilian employees at military installations throughout the Department of Defense.  The furloughs begin July 8 and are a result of the automatic federal spending cuts known as sequestration.

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Anheuser-Busch InBev
4:57 pm
Tue June 4, 2013

Anheuser-Busch InBev Completes $20.1B Grupo Modelo Deal

Anheuser-Busch InBev

Anheuser-Busch InBev has completed its $20.1 billion purchase of Mexican brewer Grupo Modelo.

The world's largest brewer has been trying for almost a year to buy the half of Modelo that it did not already own. The Department of Justice initially blocked the deal, concerned that it would hurt U.S. beer shoppers' choices, but signed off on the combination after AB InBev agreed to sell Modelo's entire U.S. business to a wine maker, Constellation Brands Inc.

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Firefighters
4:46 pm
Tue June 4, 2013

New Pension Ruled OK For City Firefighters

St. Louis firefighter on the job.
Credit (UPI/Bill Greenblatt)

A St. Louis judge has ruled that the city can establish a new pension system for firefighters.

Judge Robert Dierker made the ruling Monday.

The new system went into effect retroactively Feb.1 and will require firefighters to contribute 9 percent to their retirement. That’s one percent more than currently.

Jeff Rainford---the chief of staff for Mayor Francis Slay---says the new pension will save the city $4 million this year and still benefit firefighters.

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