Missouri Minute: Cadillac to keep 500 KC jobs; stock plunge hits Sprint employees

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

New Cadillac will help keep 500 manufacturing jobs in KC area

Cadillac will build its newest luxury car model in Kansas City, Kansas, allowing a plant there to keep 500 jobs. The company revealed on Tuesday that the XT4, a compact SUV, will be built at the Fairfax Assembly & Stamping Plant. Last summer, the plant laid off about 1,000 workers after General Motors cut a production shift there. Read more

With merger dream gone, Sprint stock incentives plummet in value

A year ago, excited by the prospect of a merger with a key competitor, Sprint distributed stock to employees as incentives. Since then, the deal has fizzled and those shares have lost close to half of their value. The incentives were spurred by a bump in Sprint’s stock price amid rumors of a merger with T-Mobile. The $279 million in shares handed out to Sprint employees are now worth $169 million. Read more

Schlitterbahn co-owner, slide designer charged in child’s death

Two men now face second-degree murder charges in the 2016 death of a 10-year-old boy on a Kansas City, Kansas, water slide. The Kansas Attorney General unsealed a new indictment in the case on Tuesday, charging Jeff Henry, co-owner of the Schlitterbahn water park, and John Schooley, designer of the Verruckt water slide, with second-degree murder. Henry & Sons Construction Company, a contractor controlled by Henry, also was charged. Read more

Study: Missourians’ health plans lack access to mental health care

A new survey reported Missourians are less likely to find mental health services in their insurance network than they are to find in-network primary care or specialist care. Mental health therapists and substance abuse counselors in Missouri are three times more likely to be out of network compared to other medical specialists, according to the study released by the Missouri Federation of Behavioral Advocates. Read more

Businesses from St. Louis area score share of $500,000, spot on Hulu show

Six businesses, ranging from an Irish pub to a dog groomer, will be featured on a Hulu TV series about a St. Louis suburb and split a $500,000 cash prize. Alton, Illinois, won an online competition from Deluxe, a Minneapolis-based marketing firm that produces the show “Small Business Revolution — Main Street.” The competition promised a $500,000 “revival” prize to be split between six businesses and $75,000 for a downtown improvement project. Read more

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