^Yes, they were supposedly discussing it, but I don't think anything has been signed. And no, A-B isn't exactly the kind of tenant to which I was referring.
You guys are really silly, TWofTA & TG"E". I enjoy your repartee.
http://www.mayorslay.com/desk/display.asp?deskID=897
-RBB
A story in this morning’s newspaper quotes a Cordish Co. spokesman explaining why there is still a big hole outside Busch Stadium – and may still be a big hole there for the next several months. He attributed the delay to continuing negotiations with Centene Corp., which plans to relocate its headquarters to downtown from Clayton.
Representatives of the Cordish Co. have told us they are ready to move forward with the Ballpark Village development. But, they have also told us that the Centene deal significantly changes the design of Ballpark Village. We have told them to finish their deal with Centene so we can move forward with all of the projects together and not have to change them later.
Centene is a great company. They will make the Ballpark Village project better, and their presence in Downtown St. Louis will be a tremendous boost to the City’s economy and add to our momentum.
But, I don’t believe Centene is to blame for the delay. Cordish has had four months to complete the negotiations and finish the development agreement. Like everyone else, I am growing impatient. I want to see construction start soon.
I remain confident that Ballpark Village will begin construction in the next couple of months. I am even more confident, however, that taxpayers are protected by an ordinance that will let us collect penalties from the Cardinals should they fail to meet their obligations.
-RBB
Whether it was strictly a PR move, or, Mr. Slay actually does feel the way he states I'm glad he posted the response.
I think we're nearing the point where the city should start putting the pressure back on the Cards and Cordish.
I think we're nearing the point where the city should start putting the pressure back on the Cards and Cordish.
He doesn't want Cordish throwing a new corporate citizen under the bus. And I respect that 9even if Cordish is speaking the truth.)
And I'm glad he's getting impatient.
And I'm glad he's getting impatient.
I think PE must have tipped off the Mayor that the Urban St. Louis forumers were getting restless and were revolting >insert joke here<, so he issued the statement to placate us. 
Yeah...that must be it.
Yeah...that must be it.- 8,912
[size=0]Mayor Slay 'losing patience' with Cordish on Ballpark Village[/size]
Four months have passed since Centene Corp.'s blockbuster announcement that it plans to build its $250 million headquarters at Ballpark Village downtown.
Mayor Francis Slay says that's long enough for Baltimore-based Cordish Co. to have re-worked its plans for the $387 million first phase of Ballpark Village, which will have 250 condos, 270,000 square feet of restaurant and entertainment space, and 100,000 square feet of office space. The development is slated to be built on vacant ground north of the new Busch Stadium.
"We're sitting on the sidelines like everyone else, waiting for this to happen," said Jeff Rainford, Slay's chief of staff.
The city of St. Louis is planning to sell $115.8 million in bonds to finance state and local subsidies for the project. To move forward, Cordish has to hammer out financing and other logistical details about Centene Center, and come back to the city for a final redevelopment agreement. It was originally planned that the bulk of Ballpark Village's first phase would be completed in time for the July 2009 All-Star Game in St. Louis, but a groundbreaking date has not yet been set.
On his blog this week, Slay wrote that he doesn't blame the delay on Centene. "Cordish has had four months to complete the negotiations and finish the development agreement," Slay wrote. "Like everyone else, I am growing impatient. I want to see construction start soon."
http://stlouis.bizjournals.com/stlouis/ ... tory4.html
Four months have passed since Centene Corp.'s blockbuster announcement that it plans to build its $250 million headquarters at Ballpark Village downtown.
Mayor Francis Slay says that's long enough for Baltimore-based Cordish Co. to have re-worked its plans for the $387 million first phase of Ballpark Village, which will have 250 condos, 270,000 square feet of restaurant and entertainment space, and 100,000 square feet of office space. The development is slated to be built on vacant ground north of the new Busch Stadium.
"We're sitting on the sidelines like everyone else, waiting for this to happen," said Jeff Rainford, Slay's chief of staff.
The city of St. Louis is planning to sell $115.8 million in bonds to finance state and local subsidies for the project. To move forward, Cordish has to hammer out financing and other logistical details about Centene Center, and come back to the city for a final redevelopment agreement. It was originally planned that the bulk of Ballpark Village's first phase would be completed in time for the July 2009 All-Star Game in St. Louis, but a groundbreaking date has not yet been set.
On his blog this week, Slay wrote that he doesn't blame the delay on Centene. "Cordish has had four months to complete the negotiations and finish the development agreement," Slay wrote. "Like everyone else, I am growing impatient. I want to see construction start soon."
http://stlouis.bizjournals.com/stlouis/ ... tory4.html
- 1,364
This had better get under way soon. I hope we don't end 2008 with a pond sitting there. It's kind of sad actually. It takes a village to raise a child, what's it going to take to raise a village?
A child of David Cordish...if they deign us worthy.It takes a village to raise a child, what's it going to take to raise a village?
- 10K
Centene shares plummet after fourth-quarter earnings miss
STAFF AND WIRE
02/08/2008
Shares of Centene Corp. fell 13 percent Friday after the company reported fourth-quarter earnings significantly lower than analysts expectations.
Centene, which manages health programs for states, said it earned 20 cents a share in the fourth quarter. Analysts had expected the company to report a fourth-quarter profit, excluding restructuring charges, of 48 cents a share.
Part of the problem an accounting issue that prevented Centene from including a retroactive rate increase in the fourth-quarter's revenue and profit.
Centene shares closed at $21.42, down $3.25. The decline was the biggest since July 18, 2006, when the Clayton-based company lowered a profit forecast.
- 407
^And now the truth comes out. You know this has to be a source of concern for Centene. How financially viable is this company?
^I believe U.S. Equities of Chicago is the developer of Centene Center at BV, not Centene. Centene has only agreed to be the signature tenant in the new building. I don't think there's too much to worry about.
I haven't reviewed their financials but a simple earnings miss isn't the end of the world. This is still a profitable company were talking about.
Centene had revenues of about $3B for FY2007 and is projecting about $3.4B for FY2008. It was profitable this year and will be profitable next year. I seriously doubt its stock market performance has any relation to its headquarters-building decisions.
- 362
bonwich wrote:Centene had revenues of about $3B for FY2007 and is projecting about $3.4B for FY2008. It was profitable this year and will be profitable next year. I seriously doubt its stock market performance has any relation to its headquarters-building decisions.
Centene scares me. Period. They have always scared me as an outsider looking at their business and strategies. I think they are going to get this thing done, but what the final product looks like should be interesting. But, the thing with Centene is that they have equally as much chance at really succeeding as they do at failing. So, it is equally likely that they will have a reduced presence in BPV as it is that they will have an increased presence and build the other tower. So, we just don't know with them in a lot of ways, which is probably what is accounting for some of the delay in the construction. If it was AB that was doing this, we pretty much understand their long term health. But, with Centene they could boom, bust, or be sold and each seems like an equally likely possibility.
- 5,433
Little Egyptian wrote:bonwich wrote:Centene had revenues of about $3B for FY2007 and is projecting about $3.4B for FY2008. It was profitable this year and will be profitable next year. I seriously doubt its stock market performance has any relation to its headquarters-building decisions.
Centene scares me. Period. They have always scared me as an outsider looking at their business and strategies. I think they are going to get this thing done, but what the final product looks like should be interesting. But, the thing with Centene is that they have equally as much chance at really succeeding as they do at failing. So, it is equally likely that they will have a reduced presence in BPV as it is that they will have an increased presence and build the other tower. So, we just don't know with them in a lot of ways, which is probably what is accounting for some of the delay in the construction. If it was AB that was doing this, we pretty much understand their long term health. But, with Centene they could boom, bust, or be sold and each seems like an equally likely possibility.
Even with Centene's rosy (recent and projected) revenue picture, I share your concern.
Perhaps we should hold out for a solid, established, long-time St. Louis company -- such as Mercantile Bank, Boatmen's Bank, Centerre Bank, Pet, General American or AG Edwards. Or May Co.
- 1,768
I wonder if we can get an "urban" Venture as an anchor tenant for the 1st floor retail? 
- 8,912
bonwich wrote:Perhaps we should hold out for a solid, established, long-time St. Louis company -- such as Mercantile Bank, Boatmen's Bank, Centerre Bank, Pet, General American or AG Edwards. Or May Co.
How about SW Bell?
Moorlander wrote:bonwich wrote:Perhaps we should hold out for a solid, established, long-time St. Louis company -- such as Mercantile Bank, Boatmen's Bank, Centerre Bank, Pet, General American or AG Edwards. Or May Co.
How about SW Bell?
Don't forget other up upstanding St. Louis based community-oriented corporate pillars like McDonnell Douglas, TWA, Ralston-Purina, and General Dynamics...
Lots of cities have lost major corporate headquarters, including New York. I'd like to see a list of cities and the companies they lost. St. Louis isn't alone in this, I'm pretty sure. percentage-wise, maybe we're up there, but I don't know.. 
St Louis isn't alone in this, things get moved around a lot, but as far as THE CITY goes (not the region), we have lost a whole lot and acquired little.
Maybe. Maybe not. But it's beside the point of the past few posts, which was that it's pretty darned silly to question whether $3B Centene is a good choice for having a headquarters in BPV based on a screwy accounting anomaly in its latest quarter.
- 5,433
bonwich wrote:Maybe. Maybe not. But it's beside the point of the past few posts, which was that it's pretty darned silly to question whether $3B Centene is a good choice for having a headquarters in BPV based on a screwy accounting anomaly in its latest quarter.
I don't question Centene's health per se, I'm just skeptical about future of the proposed headquarters due to all the delays in Ballpark Village.
I realize Centene's inclusion in the overall development led to at least some of the delays, but I'm not really going to believe in anything related to Ballpark Village until I see construction crews setting up shop in Pujols Pond.