Economy & Innovation | St. Louis Public Radio

Economy & Innovation

News about the economy, business, and innovation happening in the St. Louis region.

Peter Raven at work in China
Provided by the Missouri Botanical Gardens

Descriptions of Peter Raven's tenure as president of the Missouri Botanical Garden range from superlative to superlative.

"Since he put down roots here in 1971, Dr. Raven has been one of St. Louis' favorite exotics. He is a generous civic leader, consummate showman, wise counsel and world expert on biodiversity. I expect him to continue in all those roles," said St. Louis mayor Francis Slay in a statement to the Beacon.

Crown Square rehabbed 2010
File Photo | Rachel Heidenry | Beacon

Odessa Willis had been hearing about the redevelopment of a two-block section of North 14th Street where she once shopped on Saturday evenings, during a heyday that had become a memory, in a place that had become a symbol of failed urban renewal. She came to the party for the new Crown Square development Thursday afternoon to see for herself these historic buildings that have been reclaimed, rebuilt and reborn -- once again.

Odessa Willis comes home.

provided

One year after the NACA "Save the Dream Tour'' stopped in Cleveland, a local nonprofit advocacy group that offers foreclosure counseling in Ohio has posted a note on the front page of its website "reaching out to homeowners who've had difficulty with Neighborhood Assistance Corporation of America."

Provided by Saint Louis Coworking

There’s something to be said for a traditional work routine of commuting downtown, entering a high-rise office building and chatting with coworkers before settling in for the day. That’s a new possibility for the people who will occupy a 10,000-square-foot room inside the Shell Building beginning Aug. 2.

On a miserably hot and steamy weekend last summer, struggling homeowners seeking mortgage salvation turned out by the thousands at the Chaifetz Arena for an event called "Save the Dream," a highly publicized multi-city foreclosure-prevention tour put on by the Neighborhood Assistance Corporation of America (NACA), a Boston-based nonprofit that touts "same-day permanent solutions."

This article originally appeared in the St. Louis Beacon. - While it can be argued that all levels of the lending industry played some part in the sub-prime mortgage collapse, economist William Emmons of the Federal Reserve Bank of St. Louis adds another factor: household financial behavior.

Emmons believes the sub-prime mortgage meltdown was a long time coming and is linked to the downward trend in both U.S. personal and national saving.

This article first appeared in the St. Louis Beacon, Dec. 22, 2008 - WASHINGTON - Now that an assistance package is finally on the way to Detroit's automakers, after weeks of pleading from the Big Three and plenty of heated political rhetoric from both sides of the congressional aisle, a fundamental question remains:

Will this save the U.S. auto industry?

This article first appeared in the St. Louis Beacon, Dec. 19, 2008 - As details of financial shenanigans perpetrated by fallen Wall Street gurus become public, the blame game is revving up. The Madoff scandal is quickly engulfing others. From his family to his cronies on Wall Street to Christopher Cox, chairman of the Securities and Exchange Commission, there is plenty of blame going around. And why not? After all, it appears that the losses stemming from Madoff's Ponzi scheme will surpass the GDP of many countries.

This article first appeared in the St. Louis Beacon, Dec. 19, 2008 - Here's what the great auto industry meltdown of 2008 looks like to Darin Gilley, president of Local 1760 of the United Auto Workers: His local has gone from 650 to 15 current active members and is on the verge of dissolving; he is unemployed.

This article first appeared in the St Louis Beacon, Dec. 17, 2008 - The Federal Reserve's decision to cut an important interest rate to a record low of 0.25 percent begs the question: What's next? Goose eggs?

The Fed vowed Tuesday that it would take aggressive action in the face of the worsening recession, including cutting its target interest rate of 1 percent by three-quarters. The interest rate is an overnight bank lending rate known as the federal funds rate. In a statement released at the conclusion of a two-day meeting, the Fed also said that interest rates would remain low "for some time" and that it would consider other efforts to boost the economy, such as the purchase of U.S. Treasury bonds.

This article first appeared in the St. Louis Beacon: November 21, 2008 - The auto industry is pulling out all stops to secure a place at the public trough. In the latest development, Congress has given the automakers an ultimatum: No plan no bailout.

This article first appeared in the St. Louis Beacon: November 21, 2008 - There are no heroes to be found in today's economic crisis, and it won't be over any time soon, says St. Louis economist Murray Weidenbaum.

"I've been saying for some time that this is going to be a long, deep recession; we're not going to come quickly out of it. I hope that some time next year we'll be hitting bottom and the economy will start turning up -- but not dramatically,'' Weidenbaum told the Beacon on Thursday.

This article first appeared in the St. Louis Beacon: November 19, 2008 - Washington University Chancellor Mark S. Wrighton warned students and faculty to expect a "significant reduction" in spending during the next fiscal year due to deteriorating economic conditions. The expected spending cuts will affect capital projects, staff positions, and pay raises, he said.

This article first appeared in the St. Louis Beacon: November 19, 2008 - They didn't pass the hat after Tuesday night's screening of the documentary "I.O.U.S.A.'' at the Missouri History Museum, but audience members did learn what their individual share of the country's nearly $60 trillion fiscal hole will be, come January: $184,000.

This article first appeared in the St. Louis Beacon: November 18, 2008 - Oh, the shopping season looks frightful -- whether you're a consumer, fretting about what to buy and how much to spend, or a retailer, worrying about sales, or an employee, wondering how much longer work will continue.

This article first appeared in the St. Louis Beacon: November 18, 2008 - Only weeks after painting a rosy picture about the fiscal health of the University of Missouri, the system's president, Gary D. Forsee, reversed himself on Monday by announcing a system-wide hiring freeze.

This article first appeared in the St. Louis Beacon: November 14, 2008 - A parody from "Saturday Night Live" is one of the more amusing scenes used by the filmmakers of the documentary "I.O.U.S.A." to explain in understandable language the causes and effects of the ever-growing U.S. national debt, which as of today, stands at just under $53 trillion.

This article first appeared in the St. Louis Beacon: November 14, 2008 - Gov.-elect Jay Nixon hasn't backed away from his big-ticket campaign promises of restoring health benefits and boosting spending for higher education, but some of his political wishes might have to take a back seat to Missouri's fiscal reality.

This article first appeared in the St. Louis Beacon: November 13, 2008 - Issuing his first executive order, President-elect Barack Obama today decreed that the sun will continue to rise in the east and that dropped objects will still fall down. This tacit endorsement of the rotational direction of the Earth and the law of gravity was seen by many as an attempt to re-assure cultural conservatives alarmed by the prospect that we have just elected a White Sox fan to be president of the United States.

This article first appeared in the St. Louis Beacon: November 12, 2008 - It's coming down to the finish line. Anheuser-Busch said Wednesday that a majority of its shares were voted in favor of the company's purchase by Belgian brewer InBev, setting the stage for completion by year-end.

This article first appeared in the St. Louis Beacon: November 10, 2008 - Plenty of politicians and urban planners have had their say about how to better connect the St. Louis riverfront, Arch grounds and downtown St. Louis. It's been a long-running and quite controversial dialogue -- one continued by a panel of design experts and other stakeholders Friday at Washington University (more on that later).

This article first appeared in the St. Louis Beacon: November 6, 2008 - Clayton-based Enterprise Bank and Trust, with $2.2 billion in total assets, is one of the largest local commercial lenders in the St. Louis area, helping to fund such high-profile deals as the $35 million 14th Street Mall redevelopment project and the $40 million mixed-use Cupples Station apartments and retail space near Busch Stadium, among many others.

This article first appeared in the St. Louis Beacon: November 6, 2008 - Despite a shaky economy, executives of Belgian brewer InBev say they remain unshaken in their belief that the acquisition of Anheuser-Busch will proceed on schedule and be completed by year-end.

InBev CEO Carlos Brito told analysts Thursday his company is "well prepared and equipped for the challenging economic environment."

This article first appeared in the St. Louis Beacon: October 28, 2008- A few mornings a week, between 5:30 and 6, the soft ring of a cell phone pulls Robin S. Davis out of sleep. It sits on the night stand beside her bed.

Davis tries to compose herself, pushing the sleepiness out of her voice.

This article first appeared in the St. Louis Beacon: October 27, 2008 - Late on a Wednesday morning, Andrew Long wakes to a quiet home.

Everyone's gone. Tammy Long, his wife, left for work hours ago, driving his daughter, Nikki, 16, and her son, Tim, 15, to school on the way. Lucky, the three legged dog, and Ellie Mae, the pregnant Doberman, wait for his attention. The cats skulk about.

This article first appeared in the St. Louis Beacon: October 27, 2008 - Kiffin Butz hit snooze again.

The February cold outside wasn't anything to open her eyes for, but news from the day before was. Even in waking, Butz was ecstatic.

As an assistant buyer at Macy's, she'd just gotten a promotion. That day, she IM'ed her boyfriend, who worked in the I.T. department. She called her mom in Belleville, and the two met for dinner. Butz treated.

Betting on 14th Street's rebirth

Oct 27, 2008

This article first appeared in the St. Louis Beacon: October 27, 2008 - The stark white walls and gaping sockets of her new storefront shop on 14th Street and St. Louis Avenue don't bother Ebony Wilson, who already sees the racks of glamorous women's clothes, shoes and handbags she plans to sell there starting in April.

This article first appeared in the St. Louis Beacon: October 24, 2008 - Things will get worse before they get better. That was the consensus of experts gathered at a forum on the economic crisis Friday. But, they said, St. Louis and Missouri will likely feel a less severe impact than places like California and Florida.

This article first appeared in the St. Louis Beacon: October 22, 2008 - Wachovia said Wednesday that it lost nearly $24 billion during the third quarter, producing results well below Wall Street's already lowered expectations.

This article first appeared in the St. Louis Beacon: October 21, 2008 - The Republican and Democratic candidates for Missouri treasurer are both well-spoken, personable men in their early 30s with young families and a shared ambition -- to win what promises to be a challenging job during the troubling economic times ahead.

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