Missouri Minute: KC minimum wage vote coming in April or August; Sprint for sale?

Here are today’s top business headlines from across Missouri:

Sprint for sale? Japanese owner exploring options

Sprint Corp.’s primary owner may be looking to sell — or buy. In the face or rumors about a potential merger, SoftBank CEO Masayoshi Son said he faced new options for Sprint going forward, whether through a merger, or as a standalone company. Read more

KC minimum wage vote coming in April or August

Kansas City voters will see a proposed minimum wage ordinance on their ballots, but it’s likely to be the end of this week before it’s known whether the measure will be on the April or August ballot. An initiative petition to raise Kansas City’s minimum wage had a court hearing on Wednesday in Jackson County Circuit Court. Both sides argued their case — the city wanting to wait until August, the petitioners wanting April. Read more

US federal court dismisses appeal by Peabody creditors

A U.S. federal appeals court dismissed an emergency appeal by opponents of Peabody Energy Corp.’s reorganization plan on Wednesday, saying any complaints should be lodged after the plan is confirmed by the bankruptcy court. An ad hoc committee of dissenting creditors had said that a key piece of Peabody’s proposal to exit Chapter 11 protection violates U.S. bankruptcy law by prematurely requiring creditors to promise to support it. Read more

Mallinckrodt receives subpoenas

Mallinckrodt has received subpoenas from both the Securities and Exchange Commission and the U.S. Attorney’s office in Massachusetts in recent months, according to an SEC filing. Read more

GM Fairfax employees will get record profit-sharing checks

The record $9.4 billion profit at General Motors Co. in 2016 means its hourly workers will receive record profit-sharing checks worth $12,000 apiece. For the 3,500 employees at the General Motors Fairfax Assembly Plant in Kansas City, Kan., it means bonuses worth a total of $42 million. Read more

Want the state’s top business and entrepreneurship news in your inbox? Sign up here for our newsletters.

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students