Good morning, MBA readers,
Summer break has started for many Missouri students, but school’s in session in today’s education-infused Morning Minutes. Two Missouri students are suing a for-profit college while another for-profit college in the state is auctioning off its last assets. Kansas City University, on the other hand, is eyeing an $80 million expansion in Joplin. Also in Kansas City, the LEANLAB education accelerator received a grant from the Gates Foundation.
From our newsroom
St. Louis startup Clever Real Estate scores $3.5 million investment
Cultivation Capital led the round with a $2 million investment. Clever plans to use the funds to expand its sales team and recruit more agents to its online real estate platform.
Application process poses challenges for would-be medical marijuana entrepreneurs
Missouri entrepreneurs hoping to get into the multimillion-dollar medical marijuana industry first must clear a number of hurdles. Step one: Obtaining a license.
Columbia event showcases Moberly Area Community College
In hosting an event at the Columbia campus of Moberly Area Community College, Columbia’s economic development agency exposed business leaders to programs the school offers, along with partnerships it has formed in the community.
Missouri students sue for-profit college
Two former students of National American University claim they were deceived into borrowing thousands of dollars in student loans with false promises about the quality of education and job prospects. (Kansas City Star)
KCUMB plans $80 million dental college in Joplin
The project, expected to break ground in 2020, will cost twice as much as the university’s 2017 expansion of its medical school in Joplin. Kansas City University of Medicine and Biosciences has committed $40 million toward the project with the rest coming from donors. (Kansas City Business Journal)
Lambert gets second bond upgrade in less than a year
Standard & Poor’s upgraded St. Louis Lambert International Airport’s bonds to A, citing the airport’s “strong service area economic fundamentals” and “very strong liquidity and financial flexibility.” (St. Louis Post-Dispatch)
Vatterott College equipment up for auction
The for-profit college’s Kansas City location is liquidating classroom assets ranging from computers to automotive items via Equip-Bid.com, an online auctioneer based in Overland Park, Kansas. (Kansas City Business Journal)
Schnucks expands curbside pickup to 30 stores
The St. Louis grocer is partnering with Instacart to allow customers to order products online and have their groceries delivered to their vehicle in the parking lot. (St. Louis Post-Dispatch)
LEANLAB gets $76,500 grant from Bill & Melinda Gates Foundation
The education accelerator in Kansas City is the first organization in the area to attract support from the Gates Foundation and the Chan Zuckerberg Initiative. (Startland News)
Say that again
“It’s killing it. We’re doing half the business.”
That’s Rick Hockemeyer, owner of the Mokane Market in southern Callaway County. The recent flooding near the Missouri River has put miles of the Katy Trail underwater, straining businesses like Hockemeyer’s that depend on bicycle traffic along the cross-state biking path, the St. Louis Post-Dispatch reports.
That is how much Mallinckrodt Pharmaceuticals expects to pay in a settlement agreement with the U.S. Department of Defense, CNBC reports. Mallinckrodt, which has a U.S. headquarters in St. Louis, was the subject of Justice Department probe after two whistleblowers claimed a part of the company improperly promoted and bribed doctors to push products.
Hello, my name is
The managing director for Buckingham Strategic Wealth has been named president of the Clayton-based wealth manager, which has $15 billion in assets under management, the St. Louis Business Journal reports. Hartman succeeds David Levin, who serves as chief operating officer of the larger Buckingham Family of Financial Services, which has over $34.5 billion in collective assets under management.