Nicole Lunger/Missouri Business Alert
Here are today’s top business headlines from across Missouri:
The Missouri General Assembly adjourned Friday having dealt with some high-priority items like right to work, banning cities from raising their minimum wage, complying with a federal ID mandate and making it harder to sue for workplace discrimination. But other sought-after bills faltered, including one that would have allowed Missouri to shed its status as the last state in the U.S. without a prescription drug monitoring program and another eliminating lobbyist gifts to officeholders — something Gov. Eric Greitens campaigned on. Overall, the Legislature sent 71 bills to Greitens’ desk. Read more
Burns & McDonnell’s unusual proposal to build and privately finance a new single terminal at Kansas City International Airport was greeted with skepticism even as the mayor and city manager touted the plan’s benefits. Kansas City Councilwoman Katheryn Shields said she had some doubts that a majority of the 13-member council would sign off on an exclusive deal with the engineering firm. Read more
Sprint Corp. has started preliminary conversations to merge with T-Mobile US Inc., the latest attempt to consolidate in a market watched closely by U.S. regulators, according to people familiar with the matter. Executives of both SoftBank Group Corp., Sprint’s largest shareholder, and Sprint itself have had informal contact with T-Mobile owner Deutsche Telekom AG about a transaction, said the people, who asked not to be identified because the discussions are private. Read more
A partnership led by former Build-A-Bear CEO Maxine Clark and a subsidiary of Clayco Inc. plans a $90 million rehab that will turn the old St. Luke’s Hospital on St. Louis’ Delmar Boulevard into apartments and collaborative office space designed for nonprofit organizations. The project would include 180,000 square feet of office space in its first phase for area nonprofits and community organizations as well as 160 apartments. Ground-floor retail space will house neighborhood businesses. Clark said she envisioned the space as sort of a Cortex Innovation Community for nonprofits. Read more
Top executives’ pay may seem like an escalator that only goes up, but the downward side of the staircase sees traffic, too. Among 33 publicly traded companies based in the St. Louis area, 18 paid their chief executives more in 2016 than in 2015, while 15 paid them less. The decline often matched the company’s performance. Read more
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