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Missouri Minute: KC startup acquisition; Springfield renters in limbo



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As you drink your coffee or tea this morning, read about an embezzlement scandal, a Kansas City startup acquisition and a legal tussle involving Panera’s former CEO.


Stay alert

Panera Bread’s former CEO wins first round of legal fight  

Ron Shaich is at odds with his former employer over non-compete agreements and his new firm’s attempts to hire Panera employees. (St. Louis Post-Dispatch)

Missouri tax collector embezzled $300,000 in taxpayer funds

The former central Missouri collector was sentenced to at least 30 months in prison. (KOMU)

Springfield renters linger in limbo

Tenants of units leased by 417 Rentals are concerned about their homes as their landlord faces foreclosure on more than two dozen properties. (Springfield News-Leader)

Missouri beats projections for Airbnb tax revenue

The state brought in $4.1 million from transactions on the short-term rental site in 2018, Airbnb reports. (Kansas City Business Journal)

Cornerstone Awards finalists announced

The Economic Development Corporation of Kansas City named 22 finalists for its annual awards recognizing companies and projects driving economic growth. (Startland News)


Show me

Today’s graphic looks at average unemployment rates across the U.S. in 2018. At 3.2 percent, Missouri was one of 14 states to record the lowest average unemployment in its history last year, according to a Bureau of Labor Statistics report released last week.  


Say that again

“I literally just came up with this idea on the back of a napkin while I was in college and got a bunch of traffic tickets, because I had a fast car and a lead foot.”

Bryan Shannon is the founder and CEO of TicketRX, a mobile app that looks to ease the pain of traffic citations for commercial drivers by pairing users with attorneys in the area where they got the ticket. MSTS, a fintech firm from the Kansas City area, acquired TicketRX to bolster its clients’ transportation solutions, Startland News reports.


Go figure

$600,000 

That’s the settlement amount awarded to a female Missouri Department of Corrections employee from the state after she claimed male co-workers regularly harassed her at two state prisons. The taxpayer-funded settlement includes $297,607 in damages awarded to the employee and $303,000 in legal fees, the St. Louis Post-Dispatch reports.


Hello, my name is

Missouri FIRST Linked Deposit Program

That’s the name of an economic development program that Missouri Treasurer Scott Fitzpatrick says is growing at an unsustainable pace. Fitzpatrick says the program is set to give out over $600 million in loans at a below market interest rate this year and will eventually surpass the program’s cap of $720 million if rules aren’t changed. The program will no longer give out loans to refinance debt among other changes, the St. Louis Post-Dispatch reports.

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