Economy & Innovation

Business
8:25 pm
Sun March 2, 2014

Young Families Hurt More By Recession

Credit (via Flickr/MoneyPit)

Younger families are not recovering as quickly from the recession as their elders.

An analysis from the Federal Reserve Bank of St. Louis found that families headed by someone younger than 40 have recovered only about one-third of their pre-recession wealth.

Meanwhile older families have nearly regained their pre-crisis level of wealth.

So, why are those under 40 having a harder time recovering?

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Business
6:40 pm
Fri February 28, 2014

St. Louis Aldermen Stand Against 'Right To Work' Bills Proposed In Statehouse

City Hall Board of Aldermen chambers
St. Louis Public Radio Staff

The St. Louis Board of Aldermen is taking a stand against so-called "right to work" legislation that's moving through the Missouri Legislature.

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Hazelwood Auto Manufacting
3:40 pm
Fri February 28, 2014

Emerald Automotive Acquired By Chinese Group; Hazelwood Agreement Still In Place

(Courtesy Emerald Automotive)

Emerald Automotive Partners announced today that its been acquired by Chinese automotive giant Zhejiang Geely Holding Group (Geely Group).  The acquisition is not expected to affect Emerald’s agreement with Hazelwood to build energy-efficient delivery vans in the city.

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Business
5:22 pm
Thu February 27, 2014

TechShop Looking For Members In St. Louis

artist rendering of TechShop at Boyle and Forest Park Avenues.
(courtesy Cortex)

TechShop, a do-it-yourself industrial workshop, based in seven cities made its pitch Thursday to expand into St. Louis.

More than 200 people attended the TechShop's presentation. The company provides industrial equipment and classes for amateur and professional inventors. It is hoping to open a location in Cortex, St. Louis’ technology district.

But in order to open its doors, TechShop needs 1,000 memberships. Company COO and Vice President of Business Development Dan Woods pushed that point at the presentation.

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Debt
5:16 am
Thu February 27, 2014

Commentary: The Economy Is Starting To Look A Lot Like 2007

Credit sxc.hu

There is a discouraging circularity to folly. The tendency to repeat mistakes, I suspect, is born of forgetfulness. We usually remember the catastrophic failure itself, but often overlook the seemingly minor missteps that led to calamity.

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Transportation
7:58 pm
Tue February 25, 2014

IDOT Mulls Options For St. Louis Area High-Speed Rail Line

Credit (UPI/Bill Greenblatt)

The Illinois Department of Transportation is considering two options for a high-speed rail line between St. Louis and Granite City. 

It’s part of a broader high-speed rail corridor between St. Louis and Chicago that’s aimed at shortening commute times between the two cities.

Construction is already underway on rail improvements between Alton and Joliet. But Congress hasn’t issued federal funding yet to build a high-speed rail line between St. Louis and Illinois. IDOT is taking the preliminary steps to apply for the federal money.

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Play Ball
10:03 pm
Mon February 24, 2014

Economy Rundown: Sports, The Economy And Economists

It's not just the Rams' fans that would hate to see the team leave St. Louis.
(UPI/Bill Greenblatt)

Football season is over. The Cardinals are still in Spring Training. St. Louis has no NBA to entertain us. The Olympics were fun while they lasted, but they took St. Louis Blues hockey away from us (until Wednesday). And we still don’t have a Major League Soccer team here. It's fair to say, the region is in a bit of a professional sports slump right now. And what have we been doing to endure the lull?

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St. Louis on the Air
4:34 pm
Mon February 24, 2014

In The Competition Between The U.S. And China, Where Does St. Louis Fit In?

(via Flickr/iChaz)

According to World Trade Center St. Louis executive director Tim Nowak, the number one destination for St. Louis exports is China. With such a direct link to the St. Louis economy, the future of U.S.-China relations is particularly significant to the St. Louis region.

In his new book “Contest of the Century,” Financial Times journalist Geoff Dyer offers an in-depth look at the increasingly competitive nature of that relationship. He is in St. Louis for a presentation tonight at the St. Louis County Library.

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Professional Sports
4:10 pm
Fri February 21, 2014

Possibility For Pro Soccer In St. Louis Being Kicked Around

St. Louis hosted a friendly game of soccer between Argentina and Bosnia in November, 2013. The enthusiasm has helped bolster hopes for a pro team.
(Tim Lloyd)

The owners of two amateur soccer teams are joining forces to bring a United Soccer Leagues professional team to St. Louis.

Tony Glavin owner and coach of the St. Louis Lions and Andrew Haines, St. Louis Ambush indoor soccer team owner, are hoping to establish pro team presence by 2015.

The partners created a website to gauge interest. Glavin calls the response "phenomenal."

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Business
5:12 pm
Thu February 20, 2014

St. Louis' Realty Market Follows National Trend: Home Sales Likely To Flatten In 2014

Housing prices have gone up, but home sales are expected to flatten this year.
(Flickr/Jessica Perdue)

Following a two-year recovery in the housing market, the National Association of Realtors’ chief economist expects sales to level off.

"Right now there are two opposing forces; higher mortgage rate anticipation, which is always a negative, and more job creation, which is a positive." said Lawrence Yun, "So, I think it will be a more neutral year in terms of home sales."

Yun spoke to members of the St. Louis Association of Realtors Thursday morning. His key points for this market:

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