Economy & Innovation

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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Business
6:45 pm
Wed May 29, 2013

Bankruptcy Judge Rules In Patriot Coal's Favor

Protesters rally in front of the Peabody Energy headquarters in downtown St. Louis on April 29, 2013. They gathered to draw attention to a Patriot Coal case regarding the health care benefits of 10,000 retired miners. Peabody spun off Patriot in 2007.
(Maria Altman/St. Louis Public Radio)

A federal bankruptcy judge granted a motion Wednesday allowing St. Louis-based Patriot Coal to make major changes to retirees’ health benefits.

Patriot estimated it had more than $1.6 billion in health liabilities for some 23,000 retired miners and their families.

The company said it could not emerge from bankruptcy with those obligations and is instead offering the United Mine Workers of America a 35 percent stake in a new company, as well as a healthcare trust fund for retirees.

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Monsanto
5:00 pm
Fri May 24, 2013

Protest Planned Against Monsanto

Outside Monsanto headquarters in St. Louis.
(St. Louis Public Radio)

Opponents of agribusiness giant Monsanto say they expect as many as 500 people to gather at the company’s Creve Coeur headquarters Saturday for a protest.

The 1 p.m. rally is part of a larger March Against Monsanto taking place in several U.S. and foreign cities.

Daniel Romano with Safe Food Action St. Louis says he thinks people are ready to vent their frustration over Monsanto’s practices and power.

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Economy
5:00 pm
Thu May 23, 2013

St. Louis Aldermen Push City-County Economic Partnership Bill Forward

St. Louis City Hall.
via Flickr/Richie Diesterheft

A new economic development agreement between St. Louis City and County is a step closer to reality.

The St. Louis Board of Aldermen moved a bill forward Thursday that would create a long-talked about partnership.

The bill’s sponsor, Alderman Fred Wessels of the 13th Ward, says it will create entity to serve businesses that want to move into the region.

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St. Louis on the Air
6:26 pm
Wed May 22, 2013

New Jobs Initiative Helps At-Risk Youth In St. Louis Help Themselves

An arial photo of downtown St. Louis. Employment rose in St. Louis this year, but not as much as it did nationally.
(Flickr Creative Commons User Daniel Leininger)

The City of St. Louis and local organizations and businesses are teaming up to try to alleviate the problems of poverty and crime in the community.

The new initiative is called STL Youth Jobs, a summer pilot program aimed at high risk youth between the ages of 16 and 23.

St. Louis Public Radio reported on the initiative when it was first announced.

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St. Louis on the Air
5:52 pm
Wed May 22, 2013

Do Companies Have A Responsibility To Give Back To The Community?

Panera Bread's shared meal of responsiblity, a turkey chili
(Courtesy: Panera Bread)

It’s not uncommon for companies to have a policy concerning corporate social responsibility.  But, do companies have an obligation to help communities?  If so, is it just certain types of businesses?  Plus, how do you factor in a company’s desire to help and, at the same time, benefit the bottom line?

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