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COMMERCE COMMENTS
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When Fortune
magazine released its annual list of America’s Fortune 500 companies
in April, St. Louis ranked sixth in its number of Fortune 500 headquarter
companies, with eight companies in the region. Additionally, 10
St. Louis companies ranked between 501 and 1,000.
Equally impressive was St. Louis’ listing in Forbes magazine,
with 12 companies making the overall Super Rank. The Super Rank
is based on a composite of sales, profits, assets and market value.
Making both of these lists is Express Scripts, the subject of this
month’s cover story. They were number 276 on the Fortune
list and 521 in Forbes.
Barrett Toan is the one responsible for catapulting the pharmacy
benefit management (PBM) company to its position as the third largest
in North America, serving more than 45 million members and managing
approximately $15 billion annually on drug expenditures.
Since 1992, the company’s revenue has grown 65 percent annually.
In 2000, net income was $94.1 million and earnings per share were
$2.41, a 36 percent increase over the previous year.
As the region nurtures its existing businesses, which is a high
return on investment strategy in economic development, Express Scripts
has certainly emerged as one of the region’s powerhouses.
And speaking of economic development, this issue also sheds light
on Hardee’s recent move of its headquarters to St. Louis from North
Carolina. Their new headquarters is located in the Firstar Plaza
in downtown St. Louis. Andy Puzder, Hardee’s president and CEO,
offers several reasons for the move: St. Louis’ centralized location,
ease in recruiting management talent and convenience for employees
and franchises to travel to and from the restaurant’s headquarters.
And lastly, this issue of St. Louis Commerce Magazine features
a profile on Jim Castellano, managing partner of Rubin, Brown, Gornstein,
the largest locally-owned accounting and consulting firm in St.
Louis.
Castellano also serves a larger organization as vice chairman of
the American Institute of Certified Public Accountants. Later this
year, Castellano will take the reins of this organization as chairman.
He’ll be the first Missourian to head up this national organization,
claiming 30,000 CPA members. Its equivalent is the ABA for lawyers
or the AMA for physicians.
Richard C.D. Fleming
President and Chief Executive Officer
St. Louis Regional Chamber and Growth Association |
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