Compiled
by Lauri Johnson
OIL AND CHEMICAL EXECS DISCUSS BIOFUEL
STRATEGIES AT WORLD CONGRESS
Executives from BP, DuPont and Chevron offered their perspectives
on the intersection of the energy and chemical industries with
the industrial biotechnology and life sciences sectors at the
3rd annual World Congress on Industrial Biotechnology and Bioprocessing
held in Toronto.
The panel emphasized both the need for biofuels and the opportunities
that their respective companies are pursuing through industrial
biotechnology.
The key drivers of the energy future will be supply security
and environmental constraints, according to Justin Adams, director
of long-term technology strategy for BP. He noted that biotechnology
could help drive down the cost of biofuel production, including
the development of new feedstocks, novel enzymes and fermentation
technology.
Jens
Riese, partner, McKinsey & Co., discussed projected
growth in demand for industrial biotech products
within the chemical industry. |
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Bill Provine, a research manager for DuPont, discussed his company’s
strategy for using industrial biotechnology throughout the “value
chain,” from specialized agricultural feedstocks to biotech
enzyme and fermentation processes that produce biobutanol, a
new type of biofuel.
Chevron Technology Ventures is embarking on a partnership with
the state of California and Pacific Ethanol to study the use
of E85 in state-owned vehicles, according to Richard Zalesky,
vice president of Chevron’s Biofuels & Hydrogen Business Unit.
The company is also collaborating with The Georgia Institute
of Technology to make cellulosic biofuels, biodiesel and hydrogen-viable
transportation fuels.
KRESGE FOUNDATION AWARDS $2.5 MILLION
CHALLENGE TO ST. LOUIS CHILDREN’S HOSPITAL
St. Louis Children’s Hospital will receive a $2.5 million challenge
grant from The Kresge Foundation if it can raise an additional
$7.75 million in new gifts and pledges by January 1, 2008. The
grant will support the hospital’s Building for Care, Searching
for Cures campaign, a $125 million effort and one of the largest
fundraising campaigns in St. Louis history.
In its core capital challenge grants program, The Kresge Foundation
has presented only four other grants at this level outside of
its home state of Michigan. This is the largest grant it has
ever awarded in the St. Louis area.
“This momentum-building challenge grant provides a great springboard
to the community phase of the Building for Care, Searching for
Cures campaign,” states Todd Schnuck, community campaign chairman.
“The campaign committee and St. Louis Children’s Hospital Foundation
stand ready to work with the St. Louis Community to raise the
funds necessary to secure payment of the challenge grant.”
The foundation awards grants to institutions operating in the
areas of arts and humanities, health and long-term care, higher
education, human services, public affairs, science and the environment.
JUNIOR CHAMBER INTERNATIONAL HOSTS NETWORKING
CONFERENCE
Leaders of local organizations in metropolitan areas in the
United States and abroad gathered at the Sheraton Lakeside Chalet
in St. Louis for the 2006 Metro Networking Conference of the
Junior Chamber International (known in the United States as
“Jaycees”).
The meeting provided opportunities for leaders of local organizations
in metropolitan areas to fine-tune skills that will help their
organizations develop and grow. Attendees reviewed the best
approaches and techniques for these organizations to develop
strategies and skills. Several speakers provided professional
leadership training sessions, and delegates also took a tour
of the city that included visits to the JCI World Headquarters,
the burial site of JCI founder Henry Giessenbier, the St. Louis
Arch and Anheuser-Busch’s brewery.
SITE IMPROVEMENT ASSOCIATION CELEBRATES
40TH ANNIVERSARY
SITE Improvement Association of St. Louis, a construction industry
trade association, celebrated its 40th anniversary at a historic
St. Louis site with the “Eads Bridge Bash” party on Sept. 9
with a social hour, barbeque and entertainment.
“Celebrating on the Eads Bridge is appropriate for several reasons,”
states Jay Schultehenrich, executive director of SITE. “This
is a St. Louis treasure that holds special meaning for the construction
industry because of the many unique aspects about its design
and construction.”
Schultehenrich also noted in a statement that the celebration
site would overlook the Gateway Arch, which is also celebrating
its 40th anniversary this year and is also a testament to the
“ingenuity and craftsmanship of St. Louis builders.”
McCORMACK BARON SALAZAR RECEIVES $60
MILLION IN TAX CREDITS THROUGH NEW MARKETS PROGRAM
(Left
to right): Kevin McCormack, president of McCormack
Baron Salazar; Richard Baron, co-founder, chairman
and CEO of McCormack Baron Salazar; and Deputy Assistant
Secretary Dan Iannicola of the U.S. Treasury.
On June 1, 2006, McCormack Baron Salazar (MBS) was
awarded $60 million in tax credits by the U.S. Treasury
Department under the 2006 New Markets Tax Credit
program (NMTC). |
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The U.S. Treasury Department has awarded McCormack Baron Salazar
$60 million in tax credits through the 2006 New Markets Tax
Credit program. The program recognizes companies for their revitalization
efforts in low-income rural and urban areas across the country.
Nearly $200 million in tax credits has been awarded to Missouri
organizations.
The company plans to use the tax credits to invest in retail,
commercial, educational and for-sale revitalization projects
in cities across the country, including St. Louis, Memphis,
Phoenix and Los Angeles. Some of the investment will also focus
on redevelopment initiatives in Baton Rouge, La., and other
coastal areas impacted by Hurricanes Katrina, Rita and Wilma
that need comprehensive urban development.
“Accelerating the return of jobs and commercial activities to
these neighborhoods is critical to their revitalization,” states
Richard Baron, chairman and CEO of McCormack Baron Salazar.
“New Markets Tax Credits will give us a new tool to develop
these opportunities.”
GATEWAY CENTER COMPLETES $5.8 MILLION
EXPANSION
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Completed Gateway Center Expansion. |
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Gateway Center in Collinsville, Ill., completed a $5.8 million
expansion to its meeting facilities in July, the third time
the center has expanded since its opening in 1990. The 32,500-square-foot
addition brings multipurpose space and other amenities to the
facility, which now exceeds 100,000 square feet in total size.
“This expansion will afford our existing clients the opportunity
to grow their events and allow our sales team to contract multiple
large events to occur at the same time,” states Liz Smith, director
of sales and marketing. “We have already sold the new space
and have several pending proposals being reviewed by interested
convention planners right now.”
A floor-to-ceiling glass rotunda is the signature architectural
element of the new addition, and a new convenience store has
been added that offers Starbuck’s coffee and other items for
event attendees. The new space includes 10,000 square feet of
multipurpose space, additional restrooms, box offices, entrances,
public traffic areas, administrative space and storage space.
The center will now be able to host general sessions for 2,000
people with up to 15 other rooms for meals and breakout sessions.
WOLF SANCTUARY RELEASES ENDANGERED SPECIES
INTO THE WILD
The Wild Canid Survival and Research Center in St. Louis (often
called the Wolf Sanctuary) has reintroduced a pack of endangered
Mexican gray wolves into the wild. The family of wolves, consisting
of an alpha male and female and two 12-week-old pups, was released
in the Apache National Forest in Arizona. The alpha male was
born at the Wild Canid Center in 2003 and is a particularly
valuable wolf from a genetic standpoint. He is one of only a
few wolves in the wild with DNA from all three of the Mexican
wolf lineages that stem from a few founding animals.
“The release of this pack is part of an interagency program
that began in 1998 to reintroduce Mexican wolves to a portion
of their historic habitat,” states Susan Lindsey, executive
director of the Wild Canid Center. “We are proud to have raised
these wolves and prepared them for their entry into the wild.”
The Wild Canid Center is the largest holder and breeder of Mexican
gray wolves in the world. The species was first reintroduced
to the wild in 1998 in Arizona, and today all packs of wild
Mexican gray wolves trace their roots to the Wild Canid Center.
WEBSTER UNIVERSITY STUDENTS TAKE SECOND
PLACE IN ADVERTISING COMPETITION
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Webster
University’s ad campaign team celebrates their first
place win in the American Advertising Federation's
regional student competition. The team went on to
win second place, nationally. |
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A student team representing Webster University placed second
in the nation at the American Advertising Federation’s National
Student Advertising Competition in San Francisco. The team won
for an advertising campaign that it created for Postal Vault,
a Dallas-based company that manufactures, sells and distributes
postal and delivery receptacles designed to protect and secure
mail and parcel packages.
The team consisted of Ross Bradley, Elizabeth Campbell, Julia
Dinh, Joslyn Dumas, Katie Eigel, Diana Garbs, Bradley Gartner,
Rachel Hamblin, Christina Klupe, Alexa Kunz, Angela Maniscalco,
Rachel Novak, Jennifer Ogle, Dilyan Pavlov, Roberto Salas, Amanda
Sang, Natalie Sasser, Jessica Sontheimer and Amanda Zeller.
For several months, the students conducted primary research
to study the target market and their competitors.
The competition provides more than 3,000 college students with
real-world experience by requiring a strategic advertising,
marketing or media campaign for a corporate sponsor.
GOV. BLUNT SIGNS LEGISLATION THAT OFFERS
AFFORDABLE HEALTHCARE INSURANCE FOR SMALL-BUSINESSES
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Gov.
Matt Blunt addresses the media, employees of Crown
C Supply, and invited guests as Mike Connelly, president
of Crown C Supply, (far right behind Gov.), Brad
Jones, state director of NFIB (far right center),
and members of the Missouri Legislator listen to
the Governor’s comments on House Bill 1827.
|
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Missouri Gov. Matt Blunt has signed new healthcare legislation
that will give the state’s small business owners access to affordable
insurance. The bill would make it easier for small businesses
to join together within the state to purchase more reasonably
priced health insurance.
“For the last dozen years, the sky rocketing cost of health
insurance has been the number one problem facing small-business
owners,” states Brad Jones, state director of the National Federation
of Independent Business/Missouri.
The move was applauded by the National Federation of Independent
Business, Missouri’s largest small business advocacy association.
During the 2007 legislative session, the federation will work
with Missouri lawmakers to pass legislation that will allow
all individuals who purchase health insurance the opportunity
to fully deduct those costs from their taxes.
REGIONAL EXECUTIVES REPORT BETTER BUSINESS
CONDITIONS
Overall business conditions are better than a year ago, according
to about two-thirds of respondents to the annual Civic Entrepreneurs
Organization (CEO) Economic Forecast and RCGA survey.1 This
sentiment cuts across most industries, judging from the 110
executives who participated.
By a ratio of more than 2-to-1, the executives report that they
plan to expand their operations during the next 12 months. Compared
with a year earlier, there is increased willingness to expand
their work force.
A majority believe their company will post profit increases
of more than 10 percent over the next year. Similar to last
year, nearly three-quarters of the respondents said that they
find it difficult to raise prices on the goods and services
they sell.
Turning to the national outlook, the executives predict continued
solid economic growth, relatively low unemployment and, perhaps,
only a minor upward drift in long-term interest rates. They
expect inflation to slow down modestly over the next 12 months
and oil prices to continue to be high. Still, nearly two-thirds
expect additional interest rate increases by the Federal Reserve
over the coming 12 months. Finally, the executives expect only
a slight increase in stock prices over the coming year.
Of the potential threats to the economy during 2007, the respondents
are most concerned about an unforeseen increase in energy prices,
but consistent with their positive national outlook, the executives
do not expect the economy to fall into recession during the
next year.
Following are some details of the survey results:
General Economic Conditions
According to 66 percent of the respondents, business conditions
are stronger than a year ago.2 This percentage has slipped from
last year’s assessment (84 percent). Economic conditions appear
to have improved the most in the construction, transportation,
consulting, and real estate and lodging industries. Less optimism
comes from executives in retail and wholesale trade and from
those in the business service industry.
Expansion Plans and Local Labor Market
Conditions
More than two-thirds of the executives report that they plan
to expand their operations during the next 12 months, which
is slightly higher than last year’s findings
Regarding the labor force, hiring plans are unchanged from a
year ago, with 72 percent of respondents planning to hire more
employees during the next 12 months. The retail and wholesale
trade, construction, manufacturing and transportation industries
appear to have the greatest difficulty finding an adequate labor
force to expand operations.
The outlook for capital spending in 2007 is about unchanged
from last year’s sentiment. This year, 65 percent of firms are
inclined to boost their capital spending over the next 12 months,
compared with 67 percent a year earlier.
Local Credit Market Conditions
A little less than half of the executives expect to see improved
credit market conditions over the next 12 months.
Local Economic Development Issues
Local economic development agencies received virtually unchanged
marks this year. Sixty-four percent of the executives believe
that the efforts of such organizations are generally effective.
Of note, 75 percent of the respondents from the manufacturing
industry think otherwise.
Forecasts
The executives were asked to predict the year-over-year growth
of real GDP at this time next year. The consensus response was
three percent, with a range between -one and five percent. Currently,
real GDP has increased 3.6 percent over the most recent four
quarters (2005:Q2 to 2006:Q2).
The St. Louis executives were asked to predict what the year-over-year
growth in the consumer price index for all urban consumers (CPI)
would be in October 2007. The consensus of the respondents is
that inflation is likely to be running at 3.9 percent. The responses
range from a low of 0.4 percent to a high of 15 percent. The
average of the 25 highest responses is 5.4 percent, and the
average of the 25 lowest responses is 2.5 percent.
The St. Louis executives predict that the unemployment rate
will average 4.8 percent in October 2007, unchanged from the
rate that prevailed as this survey was being taken in July 2006,
but slightly higher than August’s rate (4.7 percent). Although
the predictions range from a low of four percent to a high of
15 percent, the average of the 25 most optimistic and least
optimistic responses is considerably narrower: 4.2 to 5.7 percent.
The executives foresee a slight uptick in long-term interest
rates over the coming year. According to the respondents, the
yield on the 10-year U.S. Treasury security as of Oct. 12, 2007,
will be 5.3 percent. During July and August 2006, when the survey
took place, the 10-year Treasury yield averaged 5.1 and 4.9
percent, respectively. Responses range from a high of seven
percent to a low of 3.2 percent.
The St. Louis executives do not expect to see a bull run in
the stock market in the coming year. Asked to predict what the
Dow Jones Industrial Average will close at on Oct. 12, 2007,
the median response of the respondents was 11,500, which is
roughly one percent above the close of Aug. 29, 2006, when the
results of the survey were being tabulated. The projections
range from a high of 13,100 to a low of 9,500.
Asked to predict what the price of crude oil (West Texas Intermediate)
will be Oct. 12, 2007, the median response was $75 per barrel;
the predictions range from $55 per barrel to $110 per barrel.
The respondents from the retail and wholesale trade industry
and from the business service industry are the most optimistic,
with a median response of $70 per barrel.
The group has a fairly strong consensus that the Federal Open
Market Committee (FOMC) will raise its interest rate target
over the next 12 months. Fifty-eight percent believe that the
FOMC will raise its target rate. Still, a sizable minority 27
percent think the committee will leave the target rate unchanged.
Twelve percent believe that the Fed will lower its target interest
rate.
Full findings of this annual survey are available at the CEO’s
web site at: www.ceo-stlouis.org
and they will be provided at the CEO’s 19th annual Economic
Forecast Thursday, October 12 at America’s Center Ballroom,
701 Convention Plaza.
Reservations are available by calling CEO at (314) 615-8283
or through the web site.
Nationally known CEO Economic Forecast Speakers include:
- Alan
Beaulieu: A senior analyst, economist, and
principal with the Institute for Trend Research
-
Sherry Cooper: Global
economic strategist and executive vice president of
Harris Bank (Chicago) and BMO Financial Group (Toronto)
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Tom Gardner: Co-founder
of the Motley Fool
-
Mike Jensen: Former
NBC News Emmy award-winning chief financial correspondent
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CHURCHILL CENTER & SCHOOL BREAKS GROUND
ON NEW CAMPUS
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Town
& Country mayor, Jonathan Dalton, addresses students,
faculty, parents and friends at Churchill Center
& School’s groundbreaking ceremony. |
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Churchill Center & School, a not-for-profit private school founded
to help children with learning disabilities reach their potential,
held a groundbreaking ceremony for a new campus in Town & Country
this past summer. The school acquired 11 acres for a new 46,000-square-foot
facility that will allow it to expand and enhance its services.
Christner Inc. is the building and landscape architect, Frontenac
Engineering is the civil engineer, and Paric is the general
contractor for the new facility.
Since 1978, Churchill Center & School has been dedicated to
serving people with learning disabilities and has developed
a nationally recognized reputation for its uniquely successful
programs, according to the school.
CATCH A FALLING STAR AND CLAYCO BUILD
FUN CENTER FOR CHILDREN WITH SPECIAL NEEDS
St. Louis-area children with special needs will have a unique
place to build their physical and social skills, thanks to the
combined efforts of local nonprofit organization Catch a Falling
Star Inc. and construction firm Clayco. The construction team
converted a former Kay-Bee toy store on Manchester Avenue into
the CAFS Fun Center, a 6,500-square-foot facility that offers
activities and equipment designed for children ages two to 14
with special needs.
Children will be able to enjoy a reading station, a nurse’s
station, a computer station, a media area with televisions and
audio-visual equipment, a movable production stage, a gymnastics
area, and a multipurpose area for basketball, wheelchair races
and other activities.
Located at 6554 Manchester Ave. in the St. Louis Marketplace
shopping center, the fun center is now open. Clayco is doing
the work pro bono, according to Kirk Warden, vice president
of Clayco and head of the company’s institutional business unit.
ST. LOUIS COMMERCE MAGAZINE RECEIVES
NATIONAL KUDOS
The June 2005 and March 2006 issues of St. Louis Commerce
Magazine have won inclusion in the 2006 American Graphic
Design Awards competition, as judged by a nationwide panel of
judges. Sponsored by New York-based Graphic Design USA, this
national competition is among the most prestigious events of
its kind in the nation, dating back to the inaugural awards
competition in 1962.
This design competition honors new, outstanding graphic design,
advertising and marketing communications pieces
In addition, Commerce Magazine design consultants Stan
Gellman Graphic Design Inc., was recognized for five entries,
including its work for the University of Illinois, UniGroup
Inc. and LaBarge Inc.
MOMENTUM-ST. LOUIS WINS AWARD FOR PONTIAC
SOLSTICE ROADSTER CAMPAIGN
Momentum-St. Louis earned a Promo Lion Award at the 2006 Cannes
Lions International Advertising Festival for its role in a promotional
campaign for the Pontiac Solstice Roadster. The Promo Lion Award
debuted in 2006 as a new category in the competition. Agency
partners who worked on the campaign included Momentum, Leo Burnett,
Digitas and GM Planworks.
As part of the campaign, the Solstice debuted on Donald Trump’s
TV show, “The Apprentice.” Competitors were challenged to create
a brochure that would generate awareness and sales. The campaign
included an early ordering opportunity that was advertised in
30-second commercials that ran during the episode. More than
11 million consumers watched the show, and the first 1,000 early-order
vehicles sold out in 41 minutes. The campaign generated $20
million in revenue for Pontiac.
The Cannes Lions International Advertising Festival is an annual
gathering of the world’s advertising, creative, direct marketing,
interactive, film, radio, media, sales promotion and marketing
communities.
KOPLAR PROPERTIES ANNOUNCES PARTNERSHIP
WITH LEVY RESTAURANTS
Local developer Koplar Properties has announced plans to launch
two new restaurants in the Central West End’s Maryland Plaza
in partnership with Chicago-based Levy Restaurants, the restaurateur
behind Chicago’s Spiaggia and Bistro 110. Both restaurants (which
are still unnamed) are slated to open in 2007.
The first will be a full-service restaurant, located at approximately
46-56 Maryland Ave., that will feature a downstairs lounge and
a street-level dining room. An outdoor courtyard will showcase
the Plaza’s centerpiece fountain, which was designed by WET
Design, the firm behind the famous fountains at the Bellagio
Hotel and Casino in Las Vegas.
“We are especially excited about the outdoor dining space, as
there is nothing like it in St. Louis,” states Sam Koplar of
Koplar Properties. “It will be the perfect space for weddings,
banquets—anything from intimate parties for two or grand private
bashes for 200!”
The second restaurant is a grab-and-go concept that will include
a retail element in comfortable surroundings. Maryland Plaza
is being redeveloped as a premier shopping and entertainment
destination featuring mixed-use urban development by Koplar
Properties.
LEWIS & CLARK STATESMAN AWARD SALUTE
BI-STATE AREA LEGISLATORS
The RCGA Public Policy Council and Board honored 15 Missouri
and Illinois state legislators at this year’s Lewis & Clark
Awards recently, at the Adam’s Mark Hotel.
These legislators championed the St. Louis regional agenda and
their actions improved the economy and quality of life for the
bi-state metropolitan region. The award winners were recognized
for their accomplishments on important regional initiatives
regarding economic development, education, transportation and
the environment.
2006 RCGA Lewis and Clark Statesman
Awards Winners
Missouri Award Winners:
| Rep.
Carl Bearden (R-St. Charles) |
| Rep.
Tom Dempsey (R-St. Charles) |
| Sen.
Kevin Engler (R-Farmington) |
| Sen.
John Griesheimer (R-Washington) |
| Rep.
Steve Hobbs (R-Mexico) |
| Rep.
Ted Hoskins (D-Berkeley) |
| Rep.
Rodney Hubbard (D-St. Louis) |
| Rep.
Allen Icet (R-Wildwood) |
|
Rep. Connie Johnson (D-St. Louis)
|
| Rep.
Bryan Pratt (R-Blue Springs)
|
| Rep.
Neal St. Onge (R-Ellisville) |
| Sen.
Bill Stouffer (R-Napton) |
Illinois Award Winners:
| Sen.
James Clayborne(D-East St. Louis) |
| Rep.
Tom Holbrook (D-Belleville) |
| Sen.
Frank Watson (R-Greenville) |
|
Drue
Duncan of Ameren and Missouri Rep. Steve Hobbs
|
|
Missouri
Sen. John Griesheimer and John Sondag of AT&T
Missouri |
|
Bruce
Holland of Holland Construction Services and Illinois
Sen. James Clayborne Jr. |
|
Ed
Wallace of General Motors and Missouri Rep. Tom
Dempsy |
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