Good morning, MBA readers,
Although Congress delivered a measure of relief by approving $19 billion in disaster aid late Monday, Missouri continues to contend with flooding. High water has caused levees to break, displaced residents and disrupted business across the state. Meanwhile, rumors about a Centene suitor were put to rest and the president of the St. Louis Fed talked about the prospect of rate cuts.
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House passes disaster relief bill
After several weeks of delays, lawmakers approved a $19 billion plan to bring aid to Missouri and other states hit by recent floods and tornadoes. (Kansas City Star)
Floods cause levee breaches as residents try to respond
Flooding continued to impact residents as St. Louis reached its 79th day with rivers in flood stage. Some believe that the flood will surpass the record of 104 days set by flooding in 1993. (St. Louis Public Radio)
Downtown St. Louis businesses lose hot water amid flooding
The rising Mississippi River overwhelmed a pump station Sunday, leading to flooding at a plant that provides steam to downtown buildings. The outage came during a busy weekend for downtown hotels. (St. Louis Post-Dispatch)
Humana stays out of Centene bid
Company officials said they are not interested in purchasing the firm, quelling rumors that have been going on for weeks. (Reuters)
Health care group in St. Louis sold to Nashville company
HealthTrust Purchasing Group will acquire Resource Optimization & Innovation, one of St. Louis’ largest privately held companies. (St. Louis Business Journal)
St. Louis Fed president hints at rate cut
James Bullard said lower interest rates may be needed to deal with global trade tensions and weak U.S. inflation. (Reuters)
State agency scraps plan to regulate coal disposal sites
Environmental groups and the federal government criticized the measure, claiming it would not reduce groundwater pollution. The plan would have required utilities to monitor groundwater and clean contamination near ponds and landfills. (St. Louis Public Radio)
Watlow to lay off 60 employees in Columbia
The company said the layoffs were because of difficulties in the semiconductor and memory storage markets and the effects of tariffs recently levied by the federal government. (Columbia Missourian)
Impossible Burger difficult to keep in restaurants
Frustrated restaurant owners in the St. Louis area say they aren’t sure when they will get their next shipment of the meat substitute, which has been in high demand. (St. Louis Post-Dispatch)
BancorpSouth Bank names new St. Louis leader
Norm Toon, formerly at Reliance Bank, has been named St. Louis market president for the Mississippi-based bank. (St. Louis Business Journal)
Say that again
“Whenever I go into a room of farmers or people who work on farms and I just ask for a show of hands: ‘How many people in here personally know somebody who was killed in a farm incident?’ Hands always go up.”
Injuries and deaths from farm accidents remain a relevant issue, said Scott Heiberger president-elect of the International Society for Agricultural Safety and Health. The agriculture industry is considered one of the most hazardous industries next to construction. In Missouri, injury rates for farmers are nearly double the national average for all other occupations, the Columbia Missourian reports.
That’s how much CVS Caremark will pay to settle a lawsuit that alleges that the company denied overtime pay to customer service employees, including at a call center in Lee’s Summit, KCUR reports. Eligible employees can receive an average payout of $1,000 or more.
Hello, my name is
A new gym chain is coming to Missouri. Workout Anytime, headquartered in Atlanta, is making its debut in Springfield, with about five locations expected to open there over the next two years, the Springfield News-Leader reports. A basic membership to the 24-hour gym will cost $19, and a fancier version that includes tanning and physical training will cost $29.