Digging out of an economic crisis can be a lot more complicated than getting in to one and can take a lot more time, too. While there are positive signs that we are climbing out of the recession, there is still considerable fallout, especially for young couples and recent college grads.
Jobs are still hard to find for newcomers in the job market and college debt is overwhelming for many. The housing market decline, and resulting loss of wealth, was especially painful for young home owners.
Hundreds of miners from across the country protested outside of St. Louis-based Peabody Energy on Tuesday.
The miners are accusing Peabody of orchestrating a bankruptcy in order to skip out on pension and healthcare benefits owed to some 10,000 retirees and their dependents.
At the heart of the dispute is Patriot Coal Corp., which was created by Peabody as a stand-alone company in 2007. In creating Patriot, Peabody also transferred a hefty chunk of Peabody’s outstanding pension obligations onto Patriot’s books.
A panel of arbitrators in St. Louis is now weighing the future of the St. Louis Rams and the Edward Jones Dome.
The team and the owners of the dome, the St. Louis Convention and Visitors Commission, agreed to arbitration over plans to renovate the dome. The lease agreement requires the dome to be among the top quarter of all NFL stadiums by 2015 or the Rams can break the lease, raising concern they could leave St. Louis.
Shrewsbury is the latest city within Saint Louis County to consider Tax Increment Financing (known as TIFs) to subsidize a new Walmart. TIFs have been ravaging our region for twenty years, despite strong evidence they don’t help the economy. A study of TIF use in Chicago suburbs found that cities that did not use TIF grew faster than those that did, while a study of TIF in Iowa found no evidence of economy-wide benefits from its use.