Economy & Innovation

Missouri Economy
9:27 am
Thu March 21, 2013

Nixon Announces Trade Agreements With South Korea

Missouri Gov. Jay Nixon has announced $1.2 billion in trade agreements to sell Missouri products to South Korea over the next four years.

Nixon said Thursday that the state had entered into compacts with the Korea International Trade Association, the Korea-U.S. Economic Council and the Korea Importers Association.

While in Seoul, Nixon also met with South Korean government officials and laid a wreath at the Korean War Memorial. The governor says recent threats of war by North Korea's government have not stopped commerce in the region or impacted daily activities.

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Economy
4:30 am
Thu March 21, 2013

Home Values Rising, But Homeowners Still A Long Way From Flush

(via Flickr/Images_Of_Money)

So, another week, and yet more news the U.S. housing market is slowly returning to normal.

Numbers released on Tuesday by the Commerce Department show that builders broke ground on homes last month at a seasonally adjusted annual rate of 917,000. That's up from 910,000 in January. And it's the second-fastest pace since June 2008, behind December's rate of 982,000.

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Mississippi River Bridge
4:46 pm
Wed March 20, 2013

Standards For Minority, Female Worker Participation Set In IDOT, Union Agreement

Chris McDaniel, St. Louis Public Radio.

The Illinois Department of Transportation and labor unions have signed off on an agreement that sets requirements for state-funded bridge and road projects.

Union and church leaders met with Illinois Department of Transportation Secretary Ann Schneider at the new Mississippi River Bridge Wednesday, celebrating the new Project Labor Agreement that will set standards for minority and female participation.

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1:27 pm
Wed March 20, 2013

St. Louis Listed Among 'Best Cities For Young Entrepreneurs'

Lead in text: 
The site Under30CEO has included St. Louis on its 2013 list for Best Cities for Young Entrepreneurs. St. Louis sits at number 5 in the "Medium Cities" category (for cities with populations between 250,000 and 500,000). Two other Missouri cities made the list: Kansas City at number 4 in the same category as St. Louis - along with college town Columbia, Mo. at number 2 in the small cities category.
One of the most important things you'll do when starting your business is to pick where to setup shop. You want to find a place that offers business resources but also the lifestyle and culture that you want....
Scott Air Force Base
10:12 am
Wed March 20, 2013

Furlough Notices To Arrive This Week At Scott Air Force Base

Credit (via Wikimedia commons/SSGT CHAD R. GANN, USAF)

Thousands of civilian workers at Scott Air Force Base in southern Illinois will soon begin receiving furlough  notices.
 
The Belleville News Democrat reports workers will be informed that they must take one day per week of unpaid vacation between next month and September because of mandatory federal budget cuts referred to as the "sequester."
 
The newspaper says the workers will receive the 30-day notices in the mail by the end of the week.
 

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St. Louis Police Headquarters
10:10 am
Wed March 20, 2013

New St. Louis Police Headquarters To Cost More Than Expected

Credit (Rachel Lippmann/St. Louis Public Radio)

The move to a new building for the St. Louis Police Department is going to be more expensive than first thought.
 
The St. Louis Post-Dispatch reports that bids came in more than $1.6 million over expectations. Now, the move will be delayed until early next year - nearly a year later than the original estimate.
 

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Illinois
10:05 am
Wed March 20, 2013

Members Of Illinois' Largest Public Employees Union Approve New Contract

Credit (via Flickr/jglazer75)

By a margin of 96-to-4, members of Illinois' largest public employees' union voted to ratify a new contract with the state.

AFSCME and Governor Pat Quinn's administration reached a deal in late February, but in order for it to take effect, a majority of the union's 35,000 members had to agree to it.

AFSCME spokesman Anders Lindall says the negotiations may have been the toughest the union has ever experienced.

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Business
11:14 am
Tue March 19, 2013

Twinkies Sale To Pabst Beer Owner Approved By Judge

(via Flickr/sekimura)

The process that started with strikes and Hostess bakery shutdowns (including one in St. Louis) has made another step forward.

A bankruptcy judge has approved the sale of Twinkies to a pair of investment firms.

Hostess Brands Inc. is selling the spongy yellow cakes, along with other snacks including Ding Dongs and Ho Hos, to Apollo Global Management and Metropoulos & Co. for $410 million.

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Patriot Coal
4:59 pm
Mon March 18, 2013

Union President Criticizes Bankrupt Patriot Coal For Seeking Executive Bonuses

Chris McDaniel, St. Louis Public Radio.

On Monday, the top official with a national miners' union says bankrupt Patriot Coal's bid to cut retiree health care benefits, while seeking millions of dollars for executive bonuses, is immoral.

Patriot Coal spun off from St. Louis-based Peabody in 2007, taking with it an enormous amount of the larger company’s health care obligations. Now that Patriot has declared bankruptcy, the company is looking to cut health care coverage for retired miners.

At a press conference in St. Louis, United Mine Workers of America President Cecil Roberts said Patriot was designed to fail.

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Economy
2:58 pm
Mon March 18, 2013

A 77-Hour Work Week: What It Takes To Rent A Two-Bedroom Apartment In Missouri

(via Flickr/ Charleston's TheDigitel)

Updated 4:04 p.m.

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