Economy & Innovation

St. Louis Towing Scandal
2:19 pm
Fri December 10, 2010

Sentencing for operations manager of Metropolitan Towing

(Flickr Creative Commons User Dan4th)

A third person has been sentenced to prison for his role in the St. Louis towing scandal.

A federal judge on Friday sentenced 52-year-old Gregory Shepard to 10 months in prison and fined him $10,000. Shepard pleaded guilty in September to one count each of mail fraud and bribery.

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High-Speed Rail
4:06 pm
Thu December 9, 2010

Illinois gets high-speed rail money when Ohio, Wisconsin pass

(St. Louis Public Radio)

Illinois is set to get millions of dollars for high-speed rail projects that were supposed to go to two other states. But that news may not be as good as it sounds.

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National Tax Bill
5:07 pm
Wed December 8, 2010

Mo. Senators Bond, McCaskill on voting Obama tax package

U.S. Senators for Missouri Kit Bond, at left, and Claire McCaskill.
St. Louis Public Radio

Often tax legislation is a little bit muddled. We try to break down Obama's latest for you and let you know what your U.S. Senators, Kit Bond and Claire McCaskill, think as they go to vote on the bill.

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National Janitorial
3:40 pm
Wed December 8, 2010

Nationwide Janitorial exec. faces indictment

A familiar set of tools of the janitorial trade. Herman Schamber is being charged with embezzlement from the janitorial business for which he worked.
(Flickr Creative Commons User Robert S. Donovan)

The president of Custom Janitorial Services and Supplies is facing federal charges alleging he embezzled nearly $1 million.

The St. Louis Business Journal reports that 54-year-old Herman Schamber of St. Louis worked out of the main Alexandria, Va. office of National Janitorial Services Inc.  and also owned and operated the another company, Custom Janitorial Services, out of the East Rutherford, N.J. area. The Business Journal explains:

 

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Bank of America
10:47 am
Wed December 8, 2010

Bank of America bond settlement could pay to Missouri

A clock in Lawrenceville, Va. sports the Bank of America logo. Bank of America, the nation's largest bank is to pay $137 million nationally as part of several settlements.
(Flickr Creative Commons User taberandrew)

Bank of America is the largest bank in the United States, but they've also landed themselves in $137 million worth of trouble.

The bank's problems may be Missouri's gain.

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Unemployment
5:05 pm
Tue December 7, 2010

Unemployment numbers released for St. Louis

An arial photo of downtown St. Louis. Employment rose in St. Louis this year, but not as much as it did nationally.
(Flickr Creative Commons User Daniel Leininger)

The U.S. Bureau of Labor Statistics released data today about the state of unemployment over the past year for the St. Louis Mo.-Ill metropolitan area. We have some of the highlights for you:

  • St. Louis Mo.-Ill. registered an unemployment rate of 9.3 percent in October 2010 (not seasonally adjusted).
  • Nationally, the unemployment rate was 9.0 percent in October 2010, not seasonally adjusted.
  • Employment rose in St. Louis at a rate of 0.1 percent, but not as much as it did nationally, 0.5 percent.

So who was getting hired?

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Business
10:43 am
Tue December 7, 2010

River City casino won't reach revenue projection

River City casino
(Wikimedia Commons User RamblingGambler)

The St. Louis area's newest casino is falling short of revenue projections.

The St. Louis Post-Dispatch reports that the River City casino in south St. Louis County is now projected to generate slightly less than $8.2 million in its 10 months of operation this year, and a little less than $10 million in 2011.

Pfizer
3:05 pm
Mon December 6, 2010

Read takes over a Pfizer facing many difficulties

Ian Read
Pfizer.com

Pfizer employs about 500 people in research facilities around St. Louis, according to the St. Louis Business Journal. A shift at the very top of the corporation comes at a trying time for the drugmaking giant.

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Missouri & Asia
5:34 pm
Wed December 1, 2010

Nixon heads to Taiwan, South Korea on trade mission

Mo. Gov. Jay Nixon

A trade mission led by Mo. Gov. Jay Nixon heads to Taiwan and South Korea later this month.

The primary reason for the trip will be the signing of a letter of intent sealing Taiwan's purchase of $600 million of Missouri goods.

According to a press release from the Nixon's office, the deal will indicate a roughly 28 percent increase in Missouri exports to Taiwan, to about $88 million.

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Business
6:31 pm
Mon November 29, 2010

Koman, Tropicana to jointly fund Chain of Rocks casino

The proposed design for Casino Celebration.
(Casino Celebration)

A Las Vegas-based gaming company has entered a deal to help finance and operate the proposed casino at the Chain of Rocks bridge in north St. Louis.



The financing by the numbers:

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