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Satellite Mishap Slows Business at Edward Jones

(company photo)
Edward Jones headquarters in Manchester, Mo.

By Tom Weber, KWMU

St. Louis – A satellite that lost power this weekend is forcing St. Louis-based Edward Jones to do business differently.

The satellite linked more than 9,000 U.S. and Canadian branches with the company's St. Louis headquarters.

The outage means all transactions, including buying and selling stock have to be phoned in.

Spokesman John Boul says hundreds of workers in St. Louis are on temporary phone duty to take those orders.

"This is the contingency plan we had in case this was to ever occur," Boul said. "We're working 24 hours a day to get all these satellites re-pointed so we can return to our typical manner of business just as soon as possible."

Crews have to go to each branch and manually move dishes so they point at a new satellite.

Boul says he hopes that will be done in a few days.

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