Economy & Innovation

Business
5:44 pm
Tue April 9, 2013

Mo. Supreme Court Gives Paul McKee Green Light On Northside Project

Paul McKee.
(St. Louis Public Radio)

After over 3 years of litigation, developer Paul McKee’s controversial Northside Regeneration Project is being allowed to proceed.  On Tuesday the Missouri Supreme Court reversed a lower court decision blocking McKee’s use of so-called "Tax Increment Financing," (TIF) for the development.

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Economy
1:42 pm
Tue April 9, 2013

St. Louis Area's Gender-Based Wage Gap Ranked 5th Worst

(via Flickr/Tax Credits)

Only four other metropolitan areas in the United States have bigger gender-based wage gaps than St. Louis. 

That's according to rankings out from the National Partnership for Women & Families.

Here's how wages between men and women in the "top 5" metropolitan areas in the rankings shake out:

1. Seattle: $0.27 wage gap

2. Pittsburgh: $0.27 wage gap 

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AB InBev
5:24 pm
Fri April 5, 2013

AB-InBev, Federal Government Reach Agreement On Grupo Modelo Purchase

Anheuser-Busch InBev and the Department of Justice have reached a deal that will allow AB-InBev to buy the rest of Grupo Modelo, the maker of Corona.
(via Flickr/ Jirka Matousek)

Beer giant Anheuser Busch has reached a deal with the Justice Department that will allow the company to purchase Mexican brewer Grupo Modelo.

AB InBev announced last June its plans to purchase the half of Grupo Modelo it did not already own for $20 billion. The federal government filed suit in January, saying the deal would drive up beer prices.

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Tyson Foods
12:00 pm
Fri April 5, 2013

Tyson Agrees To $4M Penalty To Resolve EPA Case

(via Flickr/cambodia4kidsorg)

Tyson Foods has agreed to pay close to $4 million in civil penalties to settle alleged violations of the federal Clean Air Act in four Midwestern states including Missouri.

According to a consent decree filed on Friday in U.S. District Court in St. Louis, the penalties are in response to eight accidental releases of anhydrous ammonia at Tyson facilities between 2006 and 2010.

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Patriot Coal
11:48 am
Thu April 4, 2013

Patriot CEO Says Without Union Concessions, Company Will Liquidate

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 president and CEO of Patriot Coal says without union concessions from current and retired miners, the company will be forced into liquidation.

Bennett Hatfield made the assertion in a commentary published Thursday in the Charleston Daily Mail. He wrote that the company's liquidation would result in the loss of thousands of jobs and have a devastating impact on workers, their families, retirees and their communities.

Monsanto
12:43 pm
Wed April 3, 2013

Monsanto Profit Rises 22 Percent In Second Quarter

A field of soybeans grown with Monsanto's genetically-modified Roundup Ready seeds.
(via Monsanto)

Monsanto says its net income increased 22 percent in the second quarter on strong sales of its biotech seeds.

The agricultural products company boosted its full-year earnings guidance, citing its strong performance in the first two quarters.

The St. Louis company says it earned $1.48 billion, or $2.74 per share in the three months ended Feb. 13. That compares to earnings of $1.21 billion, or $2.24 per share, a year ago.

Revenue climbed 15 percent to $5.47 billion.

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St. Louis on the Air
4:35 pm
Tue April 2, 2013

Did St. Louis Leaders Let Its Greatness ‘Slip Away?’

(via Flickr/NathanReed)

When it comes to successfully or unsuccessfully governing and managing communities, leadership decisions can make or break a city or region.

St. Louis has been cited as a city “that let greatness slip away over the 20th century.”  That’s the contention of Colin Gordon, Professor of History at the University of Iowa, in his book, Mapping Decline…St. Louis and the Fate of the American City.

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Peabody Coal
10:21 am
Mon April 1, 2013

Thousands Protest Patriot Coal In West Virginia

Miners from across the country marching down Market St. in downtown St. Louis on January 29, 2013. They were protesting a Peabody Energy/Patriot Coal plan to cut pension and health care programs following Patriot's bankruptcy.
(Adam Allington/St. Louis Public Radio)

Police are warning motorists of traffic congestion and diversions Monday as the United Mine Workers of America protests Patriot Coal's bankruptcy reorganization plan in West Virginia.

Some 5,000 participants are expected to begin arriving at the Civic Center in Charleston around 9 a.m. The UMWA says people from southern West Virginia will drive in, and 50 buses are carrying people from seven states.

Participants will rally at 11:30 a.m. at Laidley Tower, where Patriot's West Virginia offices are located.

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Schnucks Credit Card Breach
8:18 am
Fri March 29, 2013

Schnucks Customers Dismayed By Credit Card Breach

(via Flickr/KOMUnews/Mike Anderson)

Many customers of the Schnucks grocery chain are upset about the credit card fraud that has victimized dozens of people. Investigators told the St. Louis Post-Dispatch that they continue to receive complaints from Schnucks customers.

It still isn't clear how the security breach occurred. For now, investigators are telling people who shop at Schnucks to pay with cash or checks.

Business
9:21 am
Wed March 27, 2013

Monsanto, Dupont Agree To $1.5 Billion Licensing Deal

Originally published on Wed March 27, 2013 5:59 am

Genetically-modified seeds — and the technology to produce them — have been at the center of a bitter legal fight between the two companies. Dupont will pay Monsanto more than $1.5 billion in the deal. With that, the companies will drop their patent and antitrust claims against each other.

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