Economy & Innovation

Energy Electric
1:18 pm
Fri June 15, 2012

Southern Ill. power plant Energy Electric Inc. to cut 44 jobs

(via Flickr/[F]oxymoron)

A coal-fired power plant in southern Illinois will shed nearly four dozen jobs in the next two months.

Energy Electric Inc. President Bill Sheppard says 19 of the 44 job cuts will be management personnel with the Joppa-based company. Twenty-five union workers in the company with about 233 employees will be laid off Aug. 11.

Sheppard says the reductions are fallout from the struggling economy and wholesale supplier prices that had fallen by 60 percent in 2008 and an additional 15 percent last year. He says drop-offs in the price of natural gas also are a factor.

Unemployment Rate
1:27 pm
Thu June 14, 2012

Illinois unemployment rate drops for ninth straight month

via Flickr/KellyB.

Unemployment continued to drop slowly across Illinois in May, partly due to job growth in manufacturing.

The Illinois Department of Employment Security reported Thursday that unemployment fell to 8.6 percent in May. It was the ninth straight monthly decrease and was down from 8.7 percent in April.

The federal government reported earlier this month that the May national unemployment rate was 8.2 percent. That was up slightly from April's 8.1 percent.

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Asian Carp
10:11 am
Thu June 14, 2012

Developers detail planned Asian carp-processing plant in Grafton, Ill.

Cleaning an Asian carp for food preparation.
(via Flickr/lsgcp)

Updated 5:04 p.m. with more details.

The tiny riverfront community of Grafton, Ill. has announced plans to build a plant to process Asian carp culled from the Mississippi and Illinois rivers.

The plant represents a $5.4 million joint venture between American Heartland Fish in Grafton, Falcon Protein, based in Alabama, and Wuhan Hui Chang Real Estate, a Chinese investment group.

Grafton Mayor Tom Thompson says the new plant will provide a welcome influx of good paying jobs.

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Business
12:56 pm
Wed June 13, 2012

Cisel out, Mark in as Chairman, President and CEO of Ameren Illinois

Richard Mark has been named the new chairman, president and CEO of Ameren Illinois.
(via Ameren Illinois)

Ameren Illinois has a new Chairman, President and CEO. Effective immediately, Richard Mark, 57, replaces Scott Cisel, who has "left the company to pursue other interests."

The move is an internal one for Ameren, as Mark jumps over the Mississippi from his former post as senior vice president of customer operations for Ameren Missouri. He's been with the company since 2002.

Shifting into Mark's old spot is Michael Moehn, who will leave a similar post at Ameren Illinois.

 

 

Business
12:15 pm
Wed June 13, 2012

O'Fallon to get new corporate headquarters

Air Evac Lifeteam operates a fleet of 110 medical helicopters
Air Evac Lifteam

Air Evac Lifeteam, a provider of air medical transportation to rural communities, has announced its plans to open a new corporate headquarters in O’Fallon,  in St. Charles County.

The move from West Plains, Mo. is part of major expansion for the company and is expected to create as many as 190 jobs.   

The City of O’Fallon was chosen from a list of 20 other locations throughout Missouri and other states.

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Economy
5:24 pm
Tue June 12, 2012

Missouri payroll jobs fall by 7,300 in May

via Flickr/KellyB.

Missouri officials say the state lost about 7,300 non-farm payroll jobs in May, even as the state's unemployment rate was unchanged from April at 7.3 percent.

The Department of Economic Development reported the figures Tuesday.

The decline in non-farm payroll jobs followed several months of increases. The 7.3 percent jobless rate is the lowest for Missouri since December 2008, and compares with the national figure of 8.2 percent in May.

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Business
6:45 am
Tue June 12, 2012

St. Louis is not Detroit: Assessing urban development challenges in 2012

Richard Baron.
McCormack Baron Salazar
  • Listen to the conversation.

Over the past four decades Richard Baron has made a name for himself as a pioneering developer of blighted urban neighborhoods.  Baron’s firm, McCormack Baron Salazar has completed scores of projects in St. Louis and across the Midwest.  As a native of Detroit, Mich., Baron came to Missouri in the late 1960s. 

St. Louis Public Radio’s Adam Allington sat down with Baron at a housing conference of the Bipartisan Policy Center, where he asked him to elaborate on some of the development challenges—and similarities—between Detroit and St. Louis.

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Missouri Economy
11:15 am
Wed June 6, 2012

Missouri's economy lagged nation's in 2011

(via Flickr/A Comment)

Missouri's economy grew at a slower pace than nation's this past year.

The St. Louis Post-Dispatch reported Wednesday that:

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St. Louis Post-Dispatch
4:09 pm
Tue June 5, 2012

Billionaire Buffett's company discloses stake in Post-Dispatch parent publisher

The St. Louis Post-Dispatch building in St. Louis.
(via Flickr/pasa47)

Billionaire Warren Buffett's company now owns about 3.2 percent of Lee Enterprises' stock as Berkshire Hathaway Inc.'s newspaper holdings continue to grow.

Buffett's Omaha-based company disclosed owning 1.66 million shares of Lee's stock on Tuesday after the Securities and Exchange Commission refused to let him keep the investment confidential.

The SEC often lets Buffett conceal investment moves while he's making them because so many investors try to copy him.

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Unemployment Rate
12:27 pm
Thu May 24, 2012

Unemployment drops in Illinois in April - except in the Metro East

(via Flickr/KellyB)

The Illinois Department of Employment Security says unemployment dropped during April in 11 of the state's 12 metro areas.

The department said Thursday the biggest decrease was in the Rockford area where unemployment decreased from 12.1 percent in April 2011 to 10.7 percent. The Kankakee-Bradley area wasn't far behind. The jobless rate there fell from 11.8 percent to 10.5 percent. Only the Metro East had an increase - a small jump from 8.3 to 8.4 percent.

Unemployment in the Chicago-Joliet-Naperville metro area decreased from 9.5 percent to 9 percent.

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