Good morning, MBA readers,
After some soul-searching and rebranding, Schlotzsky’s is gearing up for a return to St. Louis later this month. Also in St. Louis, an Arch Grants startup has been acquired. Elsewhere, Logboat Brewing is expanding its Columbia footprint with an eye toward experimenting like Willy Wonka.
Indian IT giant opens new St. Louis-area technology center
Tech Mahindra, a $4.9 billion software provider, has opened a new facility in O’Fallon that will house about 120 employees. (St. Louis Business Journal)
State regulators approve Grain Belt Express sale
Wednesday’s greenlight from the Public Service Commission is a critical step for Chicago’s Invenergy to buy the rights to the proposed 780-mile wind power line across four states. (Associated Press)
Chicago investor buys $51 million downtown KC portfolio
Artisan Capital Group has purchased 335 apartments across three properties. (Kansas City Business Journal)
Financial firm considers moving across state line
Overland Park, Kansas-based Waddell & Reed Financial is considering a number of potential locations in Missouri for a new corporate headquarters and plans to release more information on the process later this year. (Kansas City Business Journal)
Schlotzsky’s returns to St. Louis market
The sandwich chain will open the first of its five planned St. Louis locations in Chesterfield. (St. Louis Business Journal)
Columbia Regional Airport gets $2.8 million for runway
The Federal Aviation Administration grant will allow the airport to extend its main runway about 900 feet. (Columbia Missourian)
Developer demand prompts expansion of KC-area project
The Lenexa City Council unanimously approved a $960,000 expansion of The Yard, an L-shaped office and retail space. The expansion will allow more office space and additional parking. (Kansas City Star)
Teachers union seeks injunction in lawsuit against Columbia school district
A motion filed last Friday asks the court to protect the union’s exclusive bargaining rights from a state law while a lawsuit regarding its bargaining certification unfolds. (Columbia Missourian)
Roofer strike in Springfield reaches compromise
After a two-day strike that started Monday, roofers for the Kirberg Company will get a 2.5% boost to their benefits package and take a lower weekend pay rate. (Springfield News-Leader)
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The 5-year-old data analytics startup in St. Louis has sold for an undisclosed amount to Liquidnet, a New York City-based investment platform, the St. Louis Post-Dispatch reports. Prattle, a 2014 winner of the Arch Grants competition, uses a textual analysis algorithm to draw information from speeches and conference calls. Since 2017, the startup used this technology to analyze corporate earnings calls and rate whether executives are bullish or bearish.
BIG NEWS! We are excited to announce that we will be opening a second location less than a mile away from our current facility! This new facility will be used to experiment, explore, collaborate and to challenge ourselves to make fun new beverages that we cannot currently produce pic.twitter.com/0tbD5KXX1Q
— Logboat Brewing Co. (@LogboatBrewing) June 5, 2019
The fast-growing Columbia brewery Logboat will open a second location that is tentatively slated to debut later this year. In a Facebook post announcing the move, Logboat likened the experimental nature of the new facility to “an adult version of (Willy) Wonka.”
Multiple occupations that account for at least 40,000 jobs in Missouri are made up of more than 90% men. That’s one of the key findings of a recent report from the Missouri Economic Research and Information Center on women in the state’s workforce.
That’s the amount of national flood insurance claims that have already been paid out to a couple hundred Missouri property owners since flooding began this spring, the Associated Press reports. That number is likely to increase sharply as several hundred more claims are pending.