Missouri Minute: Trump unveils tax reform vision in Springfield; Hawley extends opioid probe to 7 more companies

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

Trump unveils tax principles designed to drive ‘big, beautiful comeback’

In a speech Wednesday in Springfield, which he called “the birthplace of a great American icon, the legendary Route 66,” President Donald Trump unveiled his vision for tax reform that he said will drive the American economy to a prosperous future. In an address that was light on specifics but featured a heavy dose of nostalgia for the country’s tax code and economic fortunes of the past, Trump outlined four guiding principles for his tax plan: simplifying the tax code; competing with other countries on tax rates; providing tax relief for the middle class; and bringing back wealth held offshore by American companies. Read more

Loren Cook Co. welcomes Trump, touts company track record

Loren Cook Company employees were given the day off on Wednesday to attend a speech made by President Donald Trump in Springfield at the company’s manufacturing warehouse. Jerry Cook, the son of company founder Loren Cook, took the stage before Trump, pledging that Loren Cook “will never manufacture in Mexico, China or wherever else.” The company also distributed material to reporters that said “there has never been a layoff in the history of the company.” Read more

Hawley extends opioid probe to 7 more companies, includes Mallinckrodt

Missouri Attorney General Josh Hawley is widening his investigation of opioid manufacturers. Hawley, a Republican, said Wednesday he is asking seven additional companies for information related to their opioid marketing practices and their involvement with industry organizations that promote opioids. The companies are Allergan, Depomed, Insys, Mallinckrodt, Mylan, Pfizer and Teva Pharmaceuticals. Mallinckrodt has its U.S. headquarters in St. Louis. Read more

Busch siblings say they’ll buy Grant’s Farm; farm to stay free and open to the public

Five members of the Busch family have plans to purchase the 270-acre Grant’s Farm and keep it open and free to the public, the family said Wednesday. After a family dispute over uses of the property, a judge ruled in June 2016 that Wells Fargo, the trust manager for the St. Louis property, had the power to decide whether to sell the property and whom to sell it to. At the time, four siblings have been in a legal fight with a fifth, Billy Busch, over the fate of Grant’s Farm. Read more

Harvey disrupts business for Kansas City Southern, YRC Worldwide

Kansas City Southern and YRC Worldwide Inc. are among the companies waiting for the remnants of Hurricane Harvey to hit the road in the Houston area. Kansas City Southern shut down parts of its line between Houston and Laredo on Friday as the storm approached. That’s a blow to the railroad, whose link between U.S. track and its Mexican railway run along the Gulf coast of Texas. Read more

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