Here are today’s top business headlines from across Missouri:
Cerner Corp. officials took a big breath Monday before embarking on a path forward without co-founder Neal Patterson, who died Sunday at age 67. Part of Cerner’s strategy was having a strong executive team and a succession plan in place. Clifford W. Illig, who co-founded Cerner with Patterson and Paul Gorup, was immediately appointed chairman and interim CEO. Possibly because the company had the past year and a half for the leadership team to grow in visibility, the unexpected timing of Patterson’s death did little to publicly rattle investors. Read more
St. Louis’ crime issue is now the state’s issue, too. At least, that’s what Gov. Eric Greitens indicated Monday when he announced a plan to direct state money and personnel toward the city. The Republican’s proposal has the support of St. Louis Mayor Lyda Krewson, but other elected Democrats are skeptical that it addresses the root causes of the violence. Greitens did not detail how much money the state would spend for these efforts. Read more
Wall Street investors have gone cold on one of the main mechanisms banks invented to fund the green-energy revolution. The business structure, known as the yieldco, feeds dividends from operating solar and wind farms to investors. Yieldcos raised $7.9 billion in public equity in 2014 and 2015 but only $1 billion since then. The shift is further fallout from the collapse of Maryland Heights-based SunEdison Inc. Read more
The Kansas City Chiefs on Monday named their new general manager, just shy of three weeks after the unexpected firing of his predecessor. Brett Veach, 39, has spent the last four seasons with the Chiefs, serving as co-director of player personnel for the last two. Read more
The Missouri State University Foundation, which raises private funds to support the Springfield university and its students, brought in more than $19.5 million in fiscal 2017, which ended June 30. That’s the second-largest total raised since the foundation was started in 1981. The funding will go to support student scholarships and programs, faculty research and facilities enhancements. Read more
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