Nicole Lunger/Missouri Business Alert

Missouri Minute: Cuts to senior care remain; public employee pension system faces ‘crisis’



Here are today’s top business headlines from across Missouri:

Veto session: Cuts to senior care remain; Chappelle-Nadal censured

On Wednesday during the Missouri Legislature’s annual veto session, lawmakers did not override any of the legislation Gov. Eric Greitens, a Republican, nixed this year, including a bill that would have kept more than 8,000 elderly and disabled from seeing reduced health care benefits. The Senate did, however, vote to censure Sen. Maria Chappelle-Nadal, D-University City, who recently expressed hope for the assassination of President Donald Trump in a Facebook post. Read more

Treasurer says Missouri pension crisis ‘at our doorstep’

Missouri’s public employee pension system faces a “crisis,” with the state on the hook for benefits costing at least $4 billion more than what it’s prepared to fund. That’s according to state Treasurer Eric Schmitt, who presented takeaways from an annual report on the Missouri State Employees Retirement System, or MOSERS, to a panel of lawmakers on Wednesday. “This crisis is no longer on the horizon; it is at our doorstep,” Schmitt told the Joint Committee on Public Employee Retirement. Read more

Mississippi River communities link with investors through environmental planning

Funding for the next Mississippi River infrastructure project could come from private investment due to a partnership formed Wednesday. The Mississippi River Cities & Towns Initiative, comprised of St. Louis Mayor Lyda Krewson and 74 other mayors, signed an agreement with United Kingdom-based CDP, an organization that collects self-disclosed corporate environmental data for investors wanting to fund projects. The goal is to connect cities in the MRCTI with potential investors. Read more

Longtime Emerson CEO Chuck Knight dies

Charles “Chuck” Knight, who grew St. Louis-based Emerson from $1 billion to more than $15 billion in revenue during his 27 years as chief executive, died Tuesday morning from complications of Alzheimer’s disease. He was 81. Knight was 37 when he was named CEO of Emerson in 1973, which at the time made him the youngest CEO to head a billion-dollar U.S. corporation. He took the company from a domestic manufacturer with a dozen divisions to a global industrial technology giant with 60 businesses. Read more

No. 1 college choice for Missouri high school grads? ACT says it’s not Mizzou

For the first time in at least the last five years, Missouri State University has topped the University of Missouri-Columbia as the top choice among students who took the ACT exam. About 78 percent — or 53,000 students — of the graduating class of 2017 chose to reveal their top choice for college to the test-taking company. Of those, 8.5 percent selected Missouri State in Springfield as their first choice; about 7.7 percent chose the University of Missouri as their first choice. Read more

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