Economy & Innovation

Economy/City credit
4:43 pm
Thu August 11, 2011

City of St. Louis retains good credit rating - for now

Arch Grants' Executive Director, Sarah Spear, and CEO, Jerry Schlicter, announced the 15 winners of the program's global business plan competition.
Joseph Leahy/St. Louis Public Radio

On Saturday, Standard and Poor's downgraded the debt of the United States a notch.

But the ratings firm continues to see debt issued by the city of St. Louis as a good investment, though vulnerable to economic shocks.

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Economy/Edward Jones Dome
5:38 pm
Wed August 10, 2011

L.A. stadium moves forward, with possible implications for Rams

A new stadium planned for downtown Los Angeles could have implications for the fate of the St. Louis Rams, who can break their lease on the Edward Jones Dome in 2014 unless upgrades are made.
(via Wikimedia Commons)

In a unanimous vote this week the Los Angeles City Council endorsed a plan to build an NFL stadium in downtown Los Angeles.  The next step is finding a team, which may have implications for the St. Louis Rams.

The Rams will be able to break their lease on the Edward Jones Dome in 2014 unless the city signs off on a package of expensive upgrades.

The dome is considered by many to be one of the NFL’s worst stadiums.

St. Louis Mayor Francis Slay says the city does have some money set to pay for upgrades.

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Stifel, Nicolaus & Co.
11:59 am
Wed August 10, 2011

St. Louis-based Stifel, Nicolaus & Co. charged with defrauding school districts

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Updated 4:02 p.m.:

Stifel, Nicolaus & Co. has released a statement regarding the complaint, read the full text here.

The federal Securities and Exchange Commission has charged a St. Louis brokerage firm and a former executive with defrauding five Wisconsin school districts by selling them risky investments funded mainly with borrowed money.

The SEC complaint against Stifel, Nicolaus & Co. and former Senior Vice President David Noack was filed in federal court in Milwaukee Wednesday.

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U.S. Credit Downgrade
10:31 am
Wed August 10, 2011

St. Louis-area mom decries downgrade with NYC plane protest

A view of the scene from a distance as a banner, funded by a St. Louis-area woman, flies over New York City on Aug. 9. From this view it's difficult to read, but the banner reads "THANKS FOR THE DOWNGRADE. YOU SHOULD ALL BE FIRED!"
(via Twitter/courtesy @stepliana)

Lucy Nobbe was fed up with Congress, angry over the U.S. credit downgrade, and she wanted the world to know.

Now Nobbe, who sells municipal bonds, has become something of a celebrity, even a hero to many.

The 51-year-old divorced mother of two daughters from suburban St. Louis spent $895 to hire an airplane to fly over New York City on Tuesday pulling a banner that read: "THANKS FOR THE DOWNGRADE. YOU SHOULD ALL BE FIRED!"

Economic Incentives / Technology / Jobs
5:49 pm
Tue August 9, 2011

Nixon: new economic incentives will bring more hi-tech jobs to Mo.

BRDG Park at the Danforth Center.
Courtesy Donald Danforth Plant Science Center

Missouri Governor Jay Nixon was in St. Louis again Tuesday touting the state's growing biotech sector and says a new package of economic incentives will continue to bring more hi-tech jobs to the state.

Nixon was in St. Louis County to welcome SyMyCo, the latest tenant of BRDG Park, the research and development wing of the Danforth Plant Science Center.

The company's President Mike Amaranthus says $1 million in quality jobs tax credits as well as a $250,000 low-interest loan were a key part of their decision to locate in Missouri.

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Economy
5:16 pm
Mon August 8, 2011

Metro East officials losing patience with MidAmerica Airport

MidAmerica Airport.
(via Wikimedia Commons)

Today the Wall Street Journal ran a story about decreasing prospects for small regional airport's like MidAmerica Airport in Mascoutah, IL.

When it was built over a decade ago MidAmerica was meant to serve as a "reliever" airport for Lambert and nearby Scott Air Force Base.  As the Journal reports, those aspirations have largely failed to pan out, as departures from Lambert have dropped significantly since Sept. 11.

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President Obama / Economy
11:51 am
Mon August 8, 2011

NPR Special Coverage: President Obama speaks on the economy

President Barack Obama.
(Official White House Photo by Pete Souza)

Thank you for joining us for the live broadcast of the President's remarks.

President Obama addressed the nation this afternoon regarding the current economic situation. You can review a live-blog of the President's speech via NPR's "The Two-Way."

Business
5:03 pm
Thu August 4, 2011

St. Louis to host convention about attracting conventions

America Center
St. Louis Convention & Visitor’s Commission

The City of St. Louis is hosting what tourism officials are calling the “Super Bowl of Conventions" this weekend.

The members of American Society of Association Executives are responsible for booking some $60 billion in convention activity annually.

All told, some 5,000 hospitality industry reps and executives will be in St. Louis from Saturday to Tuesday.  

The purpose of the convention is for those reps to try to convince 1,500 different associations to hold annual meetings in their city.

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The Two-Way
1:29 pm
Tue August 2, 2011

President signs bipartisan debt ceiling plan into law

A screengrab of CSpan's coverage of the Senate vote.
CSpan

Originally published on Tue August 2, 2011 11:43 am

Update at 2:07 p.m. ET. President Signs Bill:

President Obama has signed into law a bi-partisan bill that raises the debt ceiling and avoids a government default that analysts as well as the White House warned could have had catastrophic effects on the American economy.

Earlier today, the Senate voted 74-26 to send the bill to the president's desk. The AP reports Obama signed the bill privately in the Oval Office.

Our Original Post:

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SSM Healthcare
11:07 am
Mon August 1, 2011

Transition at the top of SSM Health Care staff

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SSM Cardinal Glennon Children's Medical Center - one of the hospitals in SSM Health Care's St. Louis-area group of medical facilities.

For the first time in its 25-year history, SSM Health Care no longer has a nun as its top executive officer.

Sister Mary Jean Ryan will remain as chairman of the board of SSM. But she says she's reaching an age, 73, when she would prefer to step away from the day-to-day operations of the system, which owns 15 hospitals and two nursing homes in four states, including Missouri.

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