Economy & Innovation

Arch Coal
11:25 am
Tue June 14, 2011

Arch Coal completes tender offer for ICG stock

(via Arch Coal)

Arch Coal says it's completed a $14.60 per share tender offer for stock in rival International Coal Group.

The offer closed Tuesday and Arch says it expects to complete the acquisition of Scott Depot-based ICG Wednesday. Arch offered to buy ICG for $3.4 billion in May.

Arch says ICG shareholders tendered nearly 188 million shares in the offer. It intends to purchase additional shares from ICG to push its ownership stake above 90 percent, enabling the deal to close.

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Business
4:57 pm
Fri June 10, 2011

Los Angeles courting Rams for possible return to California

rendering of Farmers Field in Los Angeles
courtesy AEG

A sports and entertainment company seeking to build an NFL stadium in downtown Los Angeles has spoken to the St. Louis Rams.

AEG President Tim Leiweke told the Orange County Register that he is reaching out to the Minnesota Vikings, San Diego Chargers, Oakland Raiders, St. Louis Rams and Jacksonville Jaguars.

The Rams future in St. Louis may hinge on the status of their downtown stadium, The Edward Jones Dome.

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Economy
5:11 pm
Thu June 9, 2011

St. Louis to provide employment services for homeless veterans

St. Louis City Hall
via Flickr/Richie Diesterheft

The City of St. Louis has received $600,000 to provide homeless veterans with services.

The money will be split between the St. Patrick Center, which offers housing services, and Employment Connection which provides job training skills.

St. Louis Mayor Francis Slay says that as approximately 12 percent of the city’s homeless are veterans.

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Economy
5:00 pm
Wed June 8, 2011

Missouri River flooding compounding misery for Mo. farmers

Rising water levels on the Missouri River are expected to swamp hundreds of thousands of acres of crops and halt barge traffic. 

The threat of decreased crop acreage in the Dakotas, Iowa, Nebraska and Missouri is driving prices for corn and soybeans on Wednesday.

Ron Plain is a Professor of Agricultural Economics at the University of Missouri.  He says flooding along the Missouri River could be devastating for bottomland farmers. 

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Business
4:43 pm
Fri June 3, 2011

NFL players, owners appeal labor dispute in St. Louis

Rams offensive tackle Adam Goldberg attended the hearing on behalf of the NFL Players Assoc.
Adam Allington St. Louis Public Radio

Adversaries in the contentious pro football labor battle convened in a Federal Appeals Court in St. Louis on Friday.

The National Football League is appealing an April injunction from a Minnesota Judge that temporarily lifted the lockout.

The NFL Players Association is in the process of suing the league, claiming that the lockout in violation of federal anti-trust laws.

Paul Clement is an attorney for the NFL team owners; he told a three-judge panel that the issue before them is one for labor laws to decide.

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MSD
4:14 pm
Fri June 3, 2011

MSD hearings to begin on rate increase

Brett Berthold, the manager of the MSD Bissell Point Wastewater Treatment Plant in north St. Louis, gives reporters a tour of the facility Friday.
(Bill Raack, St. Louis Public Radio)

Hearings will begin in about a week on a $276 million rate increase request for the Metropolitan St. Louis Sewer District. MSD says the rate hike is needed to comply with stricter regulatory requirements and to reduce wastewater overflows into area creeks and streams.

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Arch Coal
10:45 am
Wed June 1, 2011

Antitrust waiting period on Arch-ICG deal expires

Arch Coal has cleared a key regulatory hurdle facing its proposed $3.4 billion takeover of rival International Coal Group.

Scott Depot-based ICG and St. Louis-based Arch announced Wednesday that the the antitrust waiting period under U.S. law has expired. That satisfies one condition for the deal to close.

Arch agreed to buy ICG on May 2 and has since started a $14.60-a-share tender offer. The offer expires June 14.

Economy
5:04 pm
Thu May 19, 2011

Missouri exports up in Q1

Coal, one of Missouri's top export products this year.
(via Flickr/[sic])

Missouri exports are up 18 percent in the first quarter of 2011. That’s according to data released Thursday by the World Trade Center Saint Louis.

The total dollar value of Missouri exports in Q1 was $3.4 billion, compared to $2.9 billion in 2010.

Tim Nowak is the Director of the World Trade Center.  He says Asian markets continue to show the biggest growth potential for Missouri.

“Some of the highest growth that we’re seeing, double-digit growth is in Singapore, Indonesia, Korea, China,” says Nowak.

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Illinois Unemployment Data
3:05 pm
Thu May 19, 2011

Illinois April jobless rate falls to 8.7 percent

(via Flickr/KellyB.)

Illinois' unemployment rate fell to 8.7 percent in April, improving for the 15th consecutive month.

The Illinois Department of Employment Security released the new figures on Thursday.

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Missouri Jobless Rate
5:19 pm
Mon May 16, 2011

Mo. jobless rate falls to 8.9 percent in April

(via Flickr/KellyB.)

A new report says Missouri's unemployment rate has fallen to its lowest point in about two years.

The state Department of Economic Development says April's jobless rate was 8.9 percent, down two-tenths of a point from March. That's the state's lowest unemployment rate since March 2009.

Monday's monthly report also shows a net gain of 2,500 nonfarm jobs in Missouri last month. The agency says the biggest growth came in construction, manufacturing and retail trade.

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