Good morning, MBA readers,
As communities across Missouri assess damage after a night of violent storms, we have updates on that and other top stories, including St. Louis considering cash incentives for city employees and U.S. Justice Department staffers opposing Sprint and T-Mobile’s merger.
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Storms cause death, destruction
Severe weather Wednesday night was blamed for three deaths in Barton County in southwest Missouri. Elsewhere, a tornado caused damage as it tore through Jefferson City. (Associated Press)
Justice Department staffers urge rejection of Sprint, T-Mobile merger
Staff members who are reviewing the proposed $26.5 billion deal recommended the agency block the merger over concerns that it could threaten competition. (Reuters)
Reports of elder financial exploitation are rising in Missouri
Missouri has seen a 35% increase in reports of abuse, neglect or exploitation. Reports of financial exploitation quadrupled from 2013 to 2017, involving more than $6 billion in assets. (Columbia Missourian)
St. Louis officials considering cash incentives to keep city employees as residents
The idea was brought forth during a hearing about eliminating an existing residency rule. The figure might be about $500 a year, aimed at offsetting the 1% city earning tax for an employee making $50,000 a year. (St. Louis Post-Dispatch)
St. Louis expects financial bump as Blues head to Stanley Cup
With the Blues set to host at least two games in the Stanley Cup Finals, the city’s budget director estimates St. Louis will benefit from sales taxes on tickets, and indirect revenue from concessions, parking, restaurants and hotels. (St. Louis Public Radio)
KC’s Spring Venture Group opening Arizona office
The insurance marketing and data company will establish a Scottsdale facility, its third office overall, as it plans to add 400 employees this year. (Kansas City Business Journal)
New 154-room hotel planned in St. Louis
Hawkeye Hotels, headquartered in Iowa, is proposing a $16.5 million, 12-story hotel on a parking lot it owns in downtown St. Louis. It would be located right next to another 91-room hotel the company owns. (St. Louis Post-Dispatch)
Factory closures take toll on rural Missouri towns
Despite being diminished, manufacturing is still among the best-paying sectors in central Missouri. But effects of factory decline still haunt many counties. (Columbia Daily Tribune)
— KC Sports Commission (@SportKC) May 22, 2019
With its pick for the 2023 draft, the NFL selects… Kansas City. The Kansas City Sports Commission and football fans across the city were in a celebratory mood Wednesday following the announcement that the NFL will bring one of its marquee events to “downtown Kansas City” in 2023. This year’s draft, held in Nashville, drew 600,000 attendees over three days, according to the Sports Commission’s announcement.
Say that again
“Accomplished entrepreneurs who I’ve met … they just did it. Of course it was risky, and it might fail, but they went and did it anyway.”
John Thomson, co-founder and CEO of PayIt, wants to see more confidence from Kansas City entrepreneurs, he said during Monday’s Innovation Exchange event. Thomson, whose govtech startup announced in March that it had raised more than $100 million, participated in a panel looking at the link between different business entities that have made investments in the area, Startland News reports.
That is how much the St. Louis Zoo plans to spend to create a 35,000-square-foot outdoor expansion of its primate house by 2021, the St. Louis Business Journal reports. Construction for the project will begin later this year.
Hello, my name is
The St. Louis entrepreneur is the founder of For the Culture STL, an online directory designed to promote African American businesses in the community. In addition to curating an event calendar, Ashe hosts her own events to promote businesses owned by African Americans. “If we keep focusing on creating things for each other and helping each other, then that is the St. Louis that we all know,” she told St. Louis Public Radio.