Well there goes the idea of Kellwood relocating downtown....
http://www.stltoday.com/business/column ... f6878.html
http://www.stltoday.com/business/column ... f6878.html
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^ Maybe, but he's not the only CEO who recognizes that young, creative employees like living in an urban environment.
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That's quite a leap.downtown2007 wrote:Well there goes the idea of Kellwood relocating downtown....
http://www.stltoday.com/business/column ... f6878.html
This could actually better their chances of moving downtown. The new CEO may want to make an immediate change in culture and why not start that off with a relocation. If done right, they could even realize a cost savings.downtown2007 wrote:Well there goes the idea of Kellwood relocating downtown....
http://www.stltoday.com/business/column ... f6878.html
I believe Chicago will be impacted more then Metro East after the Illinois state house killed the tax break package. The legislation was essentially selective corporate tax breaks after they raised the overall corporate tax rate during the last session. But this is getting insane if true and if Sears goes for it at what point do states realize that to much is to much. Yes, Ohio and everybody else would want the jobs.
Ohio reportedly offers Sears $400 million to move headquarters
http://www.stltoday.com/business/local/ ... a7c3a.html
Ohio reportedly offers Sears $400 million to move headquarters
http://www.stltoday.com/business/local/ ... a7c3a.html
Sears/K-Mart makes sense in Ohio. Columbus has a strong retail industry with Limited Brands, Abercrombie & Fitch, Express, and Big Lots all headquartered there. And Cincy has Macy's, Kroger's, and Procter and Gamble. So either of those could be logical destinations.
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^ Columbus also has Value City, DSW Shoes, etc. - though they're part of the same co.
Looks like the native are getting restive, don't know what to make of it and if their will be any big defections.
Caterpillar: Illinois business climate 'dysfunctional'
St. Louis Business Journal
Date: Friday, December 2, 2011, 7:20am CST
http://www.bizjournals.com/stlouis/morn ... iness.html
OK, very unlikely scenario and pure specualtion. However, you could argue that the following makes some sense
1) Sears to Ohio, argument that wabash noted
2) Sarah Lee to Minneapolis, Omaha or St. Louis. All have strong cereal, food processing HQ presence
3) Cat to St. Louis, strong and growing mining/coal HQ presence
4) Chicago commidity exchance/board to St. Louis, very strong Financial sector and will get even stronger if Stifel buys out the MK, Memphis firm
Caterpillar: Illinois business climate 'dysfunctional'
St. Louis Business Journal
Date: Friday, December 2, 2011, 7:20am CST
http://www.bizjournals.com/stlouis/morn ... iness.html
OK, very unlikely scenario and pure specualtion. However, you could argue that the following makes some sense
1) Sears to Ohio, argument that wabash noted
2) Sarah Lee to Minneapolis, Omaha or St. Louis. All have strong cereal, food processing HQ presence
3) Cat to St. Louis, strong and growing mining/coal HQ presence
4) Chicago commidity exchance/board to St. Louis, very strong Financial sector and will get even stronger if Stifel buys out the MK, Memphis firm
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Apparently Chiquita is leaving Cincinnati for Charlotte because Ohio wouldn't give them $22 million in incentives. Interesting how these things play out.
Also:
Also:
http://www.marketwatch.com/story/ohio-w ... =countdownThis year alone, Ohio gave American Greetings incentives worth $93.5 million after the company threatened to move 2,000 jobs to Chicago. It gave Bob Evans Farms incentives worth $17.4 million to stop it from moving 150 jobs to Texas.
And it gave Diebold Corp. incentives worth $56 million to keep it from shipping 1,900 jobs to North Carolina or Virginia.
Also this year, Ohio gave $8 million to Omnicare, enticing the pharmaceutical-care provider to move 500 jobs from northern Kentucky to Cincinnati. And it gave Marathon Petroleum a 75%, 15-year tax credit to retain yet another 1,650 employees.
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^ This is one issue where I wish Washington step in and establish more regulation or oversight.
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^ tax giveaways straight out of taxpayer pockets. At 30,000 ft., it appear quite corrupt, doesn't it?
Sara Lee is moving from the suburbs to downtown Chicago.dredger wrote:OK, very unlikely scenario and pure specualtion. However, you could argue that the following makes some sense
2) Sarah Lee to Minneapolis, Omaha or St. Louis. All have strong cereal, food processing HQ presence
http://www.globest.com/news/12_240/chic ... 16442.html
Covidien will be spinning off its pharmeceuticals business, which is headquartered in Hazelwood. It won't be Fortune 500, but will qualify as Fortune 1,000 with revenues of about $2 billion (about the size of Solutia). It sounds like the spin-off process is slated to take about 18 months. Along with the planned public offerings of Post Cereals, Armstrong Coal, Peak Resorts, and Midland States Bank it's great to see St. Louis adding to its roster of publicly traded companies.
The article in the Post: http://www.stltoday.com/business/local/ ... 0f31a.html
The article in the Post: http://www.stltoday.com/business/local/ ... 0f31a.html
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Belden bidding for Canadian company RuggedCom.
http://www.stltoday.com/business/local/ ... 0f31a.html
Good news for tech firms in StL. Have to love yet another hostile takeover being attempted BY a StL company.
http://www.stltoday.com/business/local/ ... 0f31a.html
Good news for tech firms in StL. Have to love yet another hostile takeover being attempted BY a StL company.
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http://www.stltoday.com/business/column ... 0f31a.htmlRegions Financial is days away from announcing a sale of its Morgan Keegan unit, according to a Wall Street Journal report. And it seems St. Louis-based Stifel Financial may not be out of the bidding.
Read more: http://www.stltoday.com/business/column ... z1inbYn6f5
Looks like Stifel got beat out.
James beats out Stifel, buys Morgan Keegan for $930 million
http://www.bizjournals.com/stlouis/news ... ml?ana=twt
James beats out Stifel, buys Morgan Keegan for $930 million
http://www.bizjournals.com/stlouis/news ... ml?ana=twt
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downtown2007 wrote:The next company has stepped forward. Bad news BTU
http://www.cnbc.com/id/46761465
Likely Buffett, if true. There's been chatter about this for the past year or so. Wouldn't surprise me, as he's taken a keen interest in the energy sector over the past decade. If Berkshire does buy Peabody, it's terrific news for St. Louis.Although the catalyst is unknown, Najarian tells us market chatter suggests a very large investor may take a substantial stake in the company or might even make a bid for the entire company.
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why is it terrific news? (sincere question.)the central scrutinizer wrote:If Berkshire does buy Peabody, it's terrific news for St. Louis.
Actually, read a good article on why Buffet wouldn't want to buy any coal company. The reason being that Berkshire owns a utiltiy/electricity producer - believe its Midwest Energy - and that the utitility like most see a much better return turning off old smaller coal burning power plants and swapping to Natural Gas. In other words why buy into a fuel source when its use is declining.the central scrutinizer wrote:downtown2007 wrote:The next company has stepped forward. Bad news BTU
http://www.cnbc.com/id/46761465Likely Buffett, if true. There's been chatter about this for the past year or so. Wouldn't surprise me, as he's taken a keen interest in the energy sector over the past decade. If Berkshire does buy Peabody, it's terrific news for St. Louis.Although the catalyst is unknown, Najarian tells us market chatter suggests a very large investor may take a substantial stake in the company or might even make a bid for the entire company.
Second but lesser of the argument presented, while US has the largest Coas Reserves and Asia demand is exploding (just the opposite as in the states) its still not the first choice in Asia as China/Mongolia, India and Australia have large deposits and the transit distance for the heavy bulk commodity is a lot shorter.
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1) Berkshire has deep pockets, some of the deepest in the world.urban_dilettante wrote:why is it terrific news? (sincere question.)the central scrutinizer wrote:If Berkshire does buy Peabody, it's terrific news for St. Louis.
2) Berkshire would leave them in St. Louis. If another company bought them, they could be moved.
Hearing Berkshire Hathaway Looking to Acquire US Coal Company
The Rumor:
Peabody Energy (NYSE: BTU), Walter Energy (NYSE: WLT) Patriot Coal (NYSE: PCX) were among companies being mentioned as possible acquisitions of Warren Buffett's Berkshire Hathaway (NYSE: BRK.B).
A spokesperson for Walter Energy said he was aware of Buffett's interest and added that there is no better commodity to own than hard coking coal. He would not comment specifically on a deal involving his own company. A Berkshire spokesperson was not available for comment.
Walter Energy closed at $61.55 Thursday, a gain of 3.10% on average daily volume.
Peabody Energy closed at $31.71 Thursday, a gain of 5.38% on twice the average daily volume.
Patriot Coal closed at $6.56 Thursday, a gain of 3.96% on 1.6 times the average daily volume.
(Source)
The Rumor:
Peabody Energy (NYSE: BTU), Walter Energy (NYSE: WLT) Patriot Coal (NYSE: PCX) were among companies being mentioned as possible acquisitions of Warren Buffett's Berkshire Hathaway (NYSE: BRK.B).
A spokesperson for Walter Energy said he was aware of Buffett's interest and added that there is no better commodity to own than hard coking coal. He would not comment specifically on a deal involving his own company. A Berkshire spokesperson was not available for comment.
Walter Energy closed at $61.55 Thursday, a gain of 3.10% on average daily volume.
Peabody Energy closed at $31.71 Thursday, a gain of 5.38% on twice the average daily volume.
Patriot Coal closed at $6.56 Thursday, a gain of 3.96% on 1.6 times the average daily volume.
(Source)
FYI, Birmingham, Alabama-based Walter Energy is said to be looking for a new city to call home.
Then here's this piece from Bloomberg on January 25, 2012.
An excerpt:
"While a surge in coal prices last year led to the biggest wave of coal deals, most acquirers were left with losses as demand for the commodity collapsed. Walter Energy, which bought Western Coal Corp. for $5.3 billion in April, is an attractive target because it produces high-grade steelmaking coal, Brean Murray Carret & Co. said. A buyer could spend double Walter Energy’s closing price of $67.54 a share yesterday and still get the company for less relative to earnings than any coal takeover in the past year, data compiled by Bloomberg show."
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Berkshire owns MidAmerican Energy. A year or so ago, wasn't it rumored that Buffet was interested in buying Ameren due to its coal plants?
Although anything is possible in light of the amount of activity BTU has seen, I find it sort of hard to believe that Berkshire would buy Peabody. I think Berkshire could buy Walter Energy, capitalize it thus allowing it to make acquisitions for it grow to larger.
With Peabody, it is already largest coal company in the world. Plus, there have been a lot of consolidations and acquistions by Peabody of rivals over recent years. While Berkshire has deep pockets, what could Berkshire do with Peabody? I'm sure more needs to be assessed, but it seems Walter Energy is a small fry would be a better growth bet for Berkshire.
Then here's this piece from Bloomberg on January 25, 2012.
An excerpt:
"While a surge in coal prices last year led to the biggest wave of coal deals, most acquirers were left with losses as demand for the commodity collapsed. Walter Energy, which bought Western Coal Corp. for $5.3 billion in April, is an attractive target because it produces high-grade steelmaking coal, Brean Murray Carret & Co. said. A buyer could spend double Walter Energy’s closing price of $67.54 a share yesterday and still get the company for less relative to earnings than any coal takeover in the past year, data compiled by Bloomberg show."
_________________________________________
Berkshire owns MidAmerican Energy. A year or so ago, wasn't it rumored that Buffet was interested in buying Ameren due to its coal plants?
Although anything is possible in light of the amount of activity BTU has seen, I find it sort of hard to believe that Berkshire would buy Peabody. I think Berkshire could buy Walter Energy, capitalize it thus allowing it to make acquisitions for it grow to larger.
With Peabody, it is already largest coal company in the world. Plus, there have been a lot of consolidations and acquistions by Peabody of rivals over recent years. While Berkshire has deep pockets, what could Berkshire do with Peabody? I'm sure more needs to be assessed, but it seems Walter Energy is a small fry would be a better growth bet for Berkshire.
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Collect cash.arch city wrote:While Berkshire has deep pockets, what could Berkshire do with Peabody?