Economy & Innovation

Business
1:49 pm
Fri July 27, 2012

Wells Fargo Advisors: 400 new jobs coming to St. Louis

Mo. Gov. Jay Nixon (center) and St. Louis Mayor Francis Slay (right) joined Wells Fargo Advisors president and CEO Danny Ludeman at the company's headquarters in downtown St. Louis.
Joseph Leahy/St. Louis Public Radio

Financial services firm Wells Fargo Advisors is investing $33 million to expand its operations in the St. Louis area. Missouri Governor Jay Nixon and St. Louis Mayor Francis Slay joined the company’s president and CEO Danny Ludeman Friday for the announcement at the company’s downtown headquarters.

Ludeman says the plan will create 400 local jobs.

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Taubman Prestige Outlets
4:23 pm
Wed July 25, 2012

Second outlet mall begins construction in Chesterfield Valley

The groundbreaking ceremony for Taubman Prestige Outlets in Chesterfield, Mo. on July 25, 2012. Another outlet mall broke ground less than a mile from this site two weeks earlier.
(Sydney Miller/St. Louis Public Radio)

The Chesterfield Valley could see two new outlet malls by next fall. Taubman Prestige Outlets began construction today, just two weeks after St. Louis Premium Outlets broke ground on its project less than a mile away. Prestige Outlet Malls broke ground across highway 40 from the Chesterfield Commons and construction on St. Louis Premium Outlets is occurring near the Daniel Boone Bridge.

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Economy - Agriculture
9:22 am
Tue July 24, 2012

Despite crop insurance, drought still stings farmers

Corn plants dry in a drought-stricken farm field on July 17 near Fritchton, Ind. The corn and soybean belt in the middle of the nation is experiencing one of the worst droughts in more than five decades.
Scott Olson Getty Images

Originally published on Wed July 25, 2012 9:30 am

Stop by most any unirrigated farm across the lower Midwest and you'll see crops in distress. Midwestern corn and soybean farmers are taking a beating during the recent drought, but it's not likely to drive many out of business.

Most of those farmers carry terrific insurance, and the worse the drought becomes, the more individual farmers will be paid for their lost crops. The federal government picks up most of the cost of the crop insurance program, and this year that bill is going to be a whopper.

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Express Scripts / Walgreens
9:05 am
Thu July 19, 2012

New deal allows Express Scripts customers to head back to Walgreens in Sept.

The deadline for pharmacy benefits manager Express Scripts and Walgreens to reach a deal is fast approaching.
Flickr/Stephen Cummings

Pharmacy chain Walgreens says it will begin filling prescriptions from customers in the Express Scripts network starting in September under a new multiyear contract between the companies.

Walgreen had stopped filling prescriptions for Express Scripts after a contract between the companies ended last year.

Shares of Walgreen Co. jumped 14 percent in premarket trading while Express Scripts shares rose 3 percent.

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Firefighter Pensions
5:20 pm
Fri July 13, 2012

Board of Aldermen greenlights firefighter pension reform

Alderman Stephen Conway argues Friday for passing a comprehensive overhaul of the St. Louis's firefighter retirement system.

Mayor Francis Slay scored a decisive victory Friday in his months-long battle to rein in firefighter pension costs. In a 17 to 10 vote, the St. Louis Board of Aldermen approved major reforms to the department’s retirement system, cutting benefits, raising payments, and preventing full retirement until age 55.

Slay’s office estimates the changes will save the city $8 million a year in pension costs that have more than quadrupled in the last five years.

Mayor Slay’s Chief of Staff Jeff Rainford says the reforms are necessary and protect taxpayers. 

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St. Louis Premium Outlets
5:43 pm
Wed July 11, 2012

Construction begins on new outlet mall in Chesterfield

The construction site for the new St. Louis Premium Outlets is directly off of Highway 40/I-64, just east of the Daniel Boone bridge.
Sydney Miller/St. Louis Public Radio

Area officials and representatives from Simon Property Group and Woodmont Outlets got their hands dirty this morning, breaking ground on the new St. Louis Premium Outlet Mall in Chesterfield Valley.

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Animal Welfare
4:39 pm
Fri July 6, 2012

Hardee's to end use of cramped crates in pork supply chain

This photo shows sows in gestation crates. The Humane Society of the United States provided the photo, which the organization says was taken during its 2012 undercover investigation at a Wyoming breeding facility supplying pigs to Tyson Foods.
The Humane Society of the United States

The fast food chain Hardee’s says it will stop buying pork from suppliers who use gestation crates – the cramped metal cages where many industrial pork producers house pregnant sows for most of their adult lives.

The cages are not much bigger than the pigs themselves, making it difficult for the animals to move or lie down comfortably.

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10:13 am
Fri July 6, 2012

How unemployment has dragged on, in three charts

Lead in text: 
Take a look at these charts put together by NPR's Planet Money team. Does your experience or that of your neighbors reflect the data or trends?
  • Source: Npr
  • | Via: Planet Money
Losing your job is rarely good. Not being able to find one for months can be disastrous for individuals, and bad for society as well. Yet during the recent recession and the current anemic recovery, more people in the U.S. have been unemployed for longer than at any time since 1948.
Ballpark Village
5:57 pm
Thu July 5, 2012

Cardinals' Ballpark Village could break ground by end of year

An artist rendering of the exterior of the latest iteration of Ballpark Village.
(Courtesy St. Louis Cardinals)

Officials with the St. Louis Cardinals say construction should begin on the much-delayed Ballpark Village by this coming fall.

The $100 million project received support Thursday from the Missouri Downtown Economic Stimulus Authority—known as MODESA.

MODESA’s support frees up $17 million in bonds set to expire by the end of the year—a fact which has the Cardinals, their developer Cordish Co. and the City of St. Louis moving quickly to clear these last few hurdles.

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Health Insurance Rebates
4:58 pm
Wed July 4, 2012

Check your mailbox: Health insurance rebates are on the way

UPDATED on Friday, July 6, 2012, to add a correction from Anthem's Deborah Wiethop.

Some 588,000 Missourians will get money back from their health insurance companies this month.

The federal healthcare law requires insurers to spend at least 80 percent of premiums on health care and quality improvement. The rest can go to administrative costs, marketing and profits.

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