Economy & Innovation

Business
7:55 am
Tue January 8, 2013

Monsanto Income Triples Due To Biotech Corn Expansion

Credit (St. Louis Public Radio)

Monsanto says its net income nearly tripled in the agricultural products company's first quarter as sales of its biotech corn seeds expanded in Latin American countries.

The company, which is based in St. Louis, is also raising its profit guidance for the year, and shares are up 4 percent in premarket trading. Monsanto said Tuesday that it earned $339 million, or 63 cents per share, in the three months ended November 30, from $126 million, or 23 cents per share, in last year's quarter.

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Missouri revenues
5:38 pm
Fri January 4, 2013

Missouri Revenues Grow During First Half Of FY2013

flickr/yomanimus

While 2013 began just a few days ago, Missouri's Fiscal Year is now half-over, and so far officials say it's been a good one.


The latest numbers from Governor Jay Nixon's Budget Office show a 7.9 percent increase in revenue collections from July to December, as compared to the same 6-month period a year ago. 


At that time, the Show-Me State had collected around $3.49 billion in revenues.  A year later, collections stand at $3.77 billion.  Budget Director Linda Luebbering credits an improved economy.
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Drought
12:38 pm
Fri January 4, 2013

Army Corps Tamps Down Barge Worries On Mississippi

The USS Inaugural minesweeper, lays on its side exposed on a sand bar on the Mississippi River south of St. Louis on December 7, 2012.
Credit UPI/Bill Greenblatt

Updated at 2:20 pm with comments from Gov. Jay Nixon.

Federal officials say they're confident that they'll be able to keep a crucial stretch of the drought-starved Mississippi River open to barge traffic and avoid a shipping shutdown that the industry fears is imminent.

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Business
8:27 am
Fri January 4, 2013

Clayco To Move Headquarters to Chicago

Credit Clayco

Update 1:00 with comments from St. Louis Mayor Francis Slay.

A design, engineering, architecture and construction firm is moving its corporate headquarters from St. Louis to Chicago.

Chicago Mayor Rahm Emanuel's office says Clayco's decision to relocate its headquarters will create about 300 new jobs in Chicago in the next few years. Clayco already has 280 employees in the Chicago area. The company plans to keep its office in St. Louis and no layoffs are planned.

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Economy
8:15 am
Thu January 3, 2013

Drought Concerns Remain For Barge Industry

Credit (via Flickr/The Confluence)

The barge industry again raised concerns Wednesday about the impact low water levels on the Mississippi River will have on shipping.

According to a new report from American Waterways Operators, low water could affect more than 8,000 jobs along the river. The group's spokeswoman, Ann McCulloch, says the situation isn't expected to improve any time soon.

"We're definitely worried about the immediate impact if commerce is severely impaired," said McCulloch.  "We're at that stage already and at this point it can only get worse."

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Economy
6:57 am
Fri December 28, 2012

Mississippi Levels Drop, Barge Traffic Could Halt Mid-January

via Flickr/TeamSaintLouis (Army Corps of Engineers)

Updated 3:13 p.m. Dec. 28

The Mississippi River's water level is dropping again and barge industry trade groups warn that river commerce could essentially come to a halt by mid-January.

The U.S. Army Corps of Engineers reports ice on the northern section of the Mississippi is reducing flow more than expected.

Despite that fact, the Coast Guard remains confident that the nation's largest waterway will remain open.

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Gift cards
6:48 am
Wed December 26, 2012

Advice To Consumers: Use Gift Cards Right Away

via Flickr/401(K) 2012

Did you get a gift card this holiday season? You're not alone.

Consumers were expected to spend about $80 billion on gift cards this year, and advocates suggest using them right away to avoid a lost or stolen card.

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St. Louis on the Air
5:23 pm
Wed December 19, 2012

Former U.S. Senator Kit Bond, WTC’s Tim Nowak Support Increased Trade With China

Seated l-r: Tim Nowak, World Trade Center St. Louis, and Chung Tam, chief rep., Greater China Amer. Society of Transp. & Logistics...standing l-r: former Sen. Kit Bond and Ricardo Pelaez from US Consulate Gen.'s Shanghai office
Jason Van Eaton, Kit Bond Strategies

Earlier this month, Missouri and St. Louis-area leaders wrapped up a trade mission to China.  The trip was designed, in part, to revive the so-called China Hub project.

Members of the Midwest-China Hub Commission and the American Society of Transportation and Logistics signed an agreement in Shanghai to pursue expanding trade between the U.S. and China, and in particular adding new airfreight routes between the Asian nation and St. Louis. 

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Economy
4:06 pm
Wed December 19, 2012

In Wake Of Newtown Massacre, Missouri Gun Sales Skyrocket

The AR-15 rifle is made by several weapons companies
Credit via Wikimedia Commons

Updated 1:56 p.m. Dec. 20 with information about background  checks in Illinois

It’s perhaps counter intuitive, but when acts of violence shake the nation, sales of guns go up. The same is happening with the sales of semi-automatic rifles and high-capacity magazines.

Under normal circumstances you might be confuse the rush of customers at Mid America Arms in South St. Louis, as Christmas shoppers, but not so this year.

“It’s been one of our best days in 13 years but…not for the right reasons,” says owner Mark Campbell.

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St. Louis on the Air
5:31 pm
Tue December 18, 2012

Ongoing Fiscal Cliff Negotiations Impact Year-End Tax Considerations

(via Flickr/Tax Credits)

It’s said that one of the certainties in life is taxes.  However, taxes for 2012 are to some degree, uncertain because of ongoing negotiations over the so-called fiscal cliff.

Host Don Marsh talked with tax expert Lance Weiss, C.P.A., of SFW Partners, LLC about end-of-year tax preparations and what can be done to minimize the amount owed on federal and state income tax returns due in April.

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