Missouri Minute: Executives decry Capitol violence; Family Video closes all locations

Hello, MBA readers,

Wednesday’s attack on the U.S. Capitol by supporters of President Donald Trump sent lawmakers into hiding, temporarily stalled the process of certifying electoral votes and left one woman dead. Beyond raising fundamental questions about the government and political process, it also sowed uncertainty amid efforts to revive an economy battered by the effects of the COVID-19 pandemic. Prominent business leaders and associations issued rebukes of the violence — and, in some cases, the president’s role in inciting his supporters. The president of the National Association of Manufacturers said in a statement that Vice President Mike Pence “should seriously consider working with the Cabinet to invoke the 25th Amendment to preserve democracy.” In Missouri, chief executives of companies from Cerner to World Wide Technology to UMB Bank condemned the violence. Some business leaders echoed an idea expressed earlier in the week by the Business Roundtable as it called for a peaceful transition of power: “With our country in the midst of a pandemic, business leaders recognize that ongoing division and distrust in our political system threatens the economic recovery and job creation our country desperately needs.”


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Business leaders, groups condemn election violence
Prominent national business associations and leaders of major Missouri companies spoke out against Wednesday’s attack by supporters of President Donald Trump at the U.S. Capitol. (MBA)

KC-area boxing fitness club acquired
Overland Park, Kansas-based Title Boxing Club has been purchased by California-based BoxUnion, which said it plans to triple the number of Title Boxing Club locations from the current 160. Terms of the acquisition were not disclosed. (Kansas City Business Journal)

Family Video to close all stores, including Missouri locations
The Illinois-based video store will permanently close all of its more than 250 store locations, including about 30 in Missouri. (St. Louis Post-Dispatch)

U.S. Bank has shuttered 27 St. Louis locations
The bank announced in early 2019 that it would begin restructuring to meet changing consumer preferences. This has resulted in 27 of its branches in the St. Louis area closing since last fall. (St. Louis Business Journal)

Macy’s to close Independence Center location
Macy’s will shutter its store at the Kansas City-area mall as part of a national restructuring announced last year. The store has about 75 employees, though some will be able to move to other Macy’s locations. (Kansas City Star)

Medical office properties sold for $8.4 million
Buford LLC, based in the St. Louis area, sold the eight-property portfolio to Essential Properties of New Jersey. The deal includes properties in Missouri, Georgia and Texas. (St. Louis Business Journal)

Cerner executive Adkins leaves company after losing House race
Amanda Adkins was Cerner’s vice president of strategic growth and had been with the company for 15 years. She left after losing her bid for election to the U.S. House of Representatives in the 3rd Congressional District of Kansas. (Kansas City Star)


Go figure

$42,000

That is the average teacher salary in Missouri, ranking in the bottom 10 nationally, Missourinet reports. The state’s starting teacher pay of $25,000 has not changed in 15 years. Although the Missouri Department of Elementary and Secondary Education made a plan in 2019 to better recruit and retain teachers, the pandemic put a pause in the plan. The Missouri Board of Education still pledges to focus on increasing teacher pay, although it stresses that will be a long-term discussion.


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After a mob of President Donald Trump’s supporters sieged the U.S. Capitol on Wednesday, sending lawmakers into hiding and suspending the process of certifying electoral votes, members of Missouri’s Congressional delegation responded online to what they described as “seditious behavior,” “lawlessness” and “thuggery.” Rep. Ann Wagner, a Republican from St. Louis County, called for Trump to take “decisive action.” Sen. Josh Hawley, a Missouri Republican, has faced backlash for publicly denouncing the results of the election ahead of Wednesday’s session, with critics saying rhetoric like his fueled Trump’s supporters. After the attack on Capitol Hill, Hawley’s press office tweeted remarks from the senator, calling for the prosecution of those who broke the law. Both chambers of Congress ultimately confirmed President-Elect Joe Biden’s win early Thursday.


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FastDemocracy

The platform was originally created to track the progress of bills moving through the Missouri Legislature, but after the St. Louis startup received funding from Arch Grants, FastDemocracy now tracks bills in all 50 states and Congress, St. Louis Public Radio reports. The husband-and-wife team of Anatolij Gelimson and Sara Baker founded the startup, and FastDemocracy this month is bringing aboard a new chief executive officer, Grant Campbell. The startup wants to expand its service to local governments.


It’s been a pleasure doing business with you this morning.



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