Missouri Minute: St. Louis overspending on police overtime; KC-based Thomas McGee expanding to St. Louis

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

Police overtime pay strains St. Louis budget

St. Louis is spending roughly $1.3 million per month on overtime pay for its police force, a “staggering” number city leaders hope they can soon slash. If such spending continues, the city would more than double the $7 million it had budgeted for police overtime costs for the year. Supporters of a sales tax increase for public safety, including Mayor Lyda Krewson, say it could provide relief for overburdened officers by luring more to St. Louis and ensuring higher salaries as an incentive to stay. Read more

Chiefs split with general manager Dorsey, re-sign coach Reid

The Kansas City Chiefs made a pair of major personnel moves on Thursday, announcing that they will “part ways immediately” with general manager John Dorsey, who had been with the team since January 2013, but that they are re-signing coach Andy Reid, who arrived the same month. Many observers around the NFL expressed surprise at Dorsey’s dismissal: Kansas City has gone 43-21 and been to the playoffs three times in the four seasons since he and Reid arrived. Read more

KC insurance business expands to St. Louis, plans new hires

Kansas City-based Thomas McGee LC has opened its first office in St. Louis and expects to add 15 employees there in the next 18 months. The spark for the 107-year-old agency to open a St. Louis office was the opportunity to bring in Dan Greco, a third-party administrator who spent the last several years at a Thomas McGee competitor in St. Louis. Read more

Enterprise Bank keeps entrepreneurial focus as it gains a consumer side

Enterprise Financial Services is the No. 4 bank in the St. Louis area by deposits, but it stands out from the top three — U.S. Bank, Bank of America and Commerce — in notable ways. Enterprise has been in business since just 1988 and has only 19 branches in the St. Louis area. It added two-thirds of those this year with the purchase of Eagle Bank and its parent, Jefferson County Bancshares. Read more

In northeast Missouri, Trump, economy help end Democrats’ dominance

For decades, as other parts of rural Missouri turned red, voters in northeast Missouri sent Democrats to Jefferson City and backed Democratic statewide candidates. That changed starting in 2010, though Republicans and Democrats said the most marked shift was in November 2016, as then-candidate Donald Trump touched a nerve with residents who’d seen jobs leave and economic fortunes sour. It’s been a political shift that may make it harder for Democratic candidates to win competitive races for the U.S. Senate or statewide offices in the 2018 midterm elections — and beyond. Read more

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