On Friday, July 28th, Mississippi Lime Company hosted the Director of the Missouri Department of Natural Resources – Ms. Carol Comer – for a tour of their Ste. Genevieve, MO manufacturing facility. Accompanying Director Comer were Mr. Jackson Bostic, MDNR Regional Director, and Mr. Paden Grant, MDNR Community Services Coordinator. The MDNR personnel toured Mississippi Lime’s lime manufacturing operations and associated underground limestone mine.
The U.S. economy grew by an annualized 2.6 percent in the second quarter, according to preliminary data, with real GDP up 1.9 percent at the annual rate in the first half of 2017. Looking at the underlying data, consumer and business spending were the bright spots, with net exports also making a positive contribution for the second straight quarter. Personal consumption expenditures rose by 2.8 percent in the second quarter, boosted by increased spending for both durable and nondurable goods products. In addition, nonresidential fixed investment increased by 5.2 percent in the second quarter. Most promisingly, equipment spending soared in the latest data to its fastest pace since the third quarter of 2015, up 8.2 percent, with 4.9 percent growth in structures spending. Nonetheless, other components of gross private domestic investment were weaker than desired, including residential investment and inventories. For the year as a whole, I am currently predicting real GDP growth of 2.2 percent, with 2.6 percent growth
Ameren identified seven energy-focused start-up companies that have been chosen to participate in its new Ameren Accelerator program — an initiative that pools money and resources to help new companies develop and market tech products geared toward energy. The selected companies come from the United States, Canada and the United Kingdom, including two start-ups from St. Louis. The startups chosen from the global applicant pool will be granted $100,000 in seed capital and, for the next 12 weeks, will have access to representatives from Ameren, the University of Missouri-St. Louis and Capital Innovators as they hone the marketability of their products. The companies, with descriptions provided by Ameren, are: • /blossom (St. Louis): /blossom is a tool for businesses to connect and gather data and control their resources remotely. • Hyperion Sensors (Toronto): Hyperion has developed specialized fiber-optic sensors used in utility substations. • Omega Grid (Chicago): Omega Grid provides market software that removes the revenue risk of distributed generation
July 27, 2017 – Yesterday, the president/CEO of Associated Industries of Missouri (AIM), Ray McCarty, along with professionals from Rubin Brown, spoke to a large group in St. Louis regarding business issues considered in the recently completed 2017 Missouri Legislative Session. The event was hosted by Rubin Brown’s St. Louis office. McCarty gave each attendee a copy of the “2017 Legislative Session, Summary of Business Issues” prepared by AIM, and discussed the disposition of various business issues including tort reform, tax issues, human resources issues, and transportation. Rubin Brown professionals discussed the impact of recent court decisions and tax activities from Missouri and other states. McCarty is also scheduled to appear at a similar event in Kansas City August 3, 2017, also hosted by Rubin Brown. At that event, McCarty will join the Kansas Chamber of Commerce and Rubin Brown professionals in discussing legislative and legal issues in Kansas and Missouri. Limited spots are still available at the time of
U.S. Representative Sam Graves today joined his Republican colleagues in the House Transportation & Infrastructure Committee in calling on President Trump to swiftly nominate an Assistant Secretary of the Army for Civil Works (ASA-CW) to lead the Army Corps of Engineers. The ASA-CW helps support the Army Corps’ essential mission of managing 600 dams, 25,000 miles of commercial navigation channels, and nearly 1,000 coastal harbors across the United States. “The Army Corps cannot fully do its job without an Assistant Secretary for Civil Works in place,” Rep. Graves said. “But right now, with the opportunity to streamline much of the Corps’ regulatory burdens, save billions of taxpayer dollars, and get some really important projects done, it’s even more critical for the President to nominate an ASA-CW as quickly as possible. That would have huge benefits in my north Missouri district, which borders both the Missouri and Mississippi Rivers, and throughout the country, as so much of America’s economy
The Boeing Company reported strong earnings and operating cash flow in the second quarter of 2017, driven by improved operating performance (Table 1). Second-quarter GAAP earnings per share increased to $2.89 and core earnings per share (non-GAAP)* increased to $2.55. Revenue was $22.7 billion, reflecting planned production rates and timing of commercial and defense aircraft deliveries. For the full year, GAAP earnings per share guidance increased to between $11.10 and $11.30 from $10.35 and $10.55 and core earnings per share (non-GAAP)* guidance increased to between $9.80 and $10.00 from $9.20 and $9.40, primarily driven by improved performance across the company and a lower-than-expected tax rate. Operating cash flow guidance increased by $1.5 billion to $12.25 billion on solid execution and a cash tax benefit from accelerating pension funding in the third quarter of 2017. Additionally, capital expenditures guidance decreased by $300 million to $2.0 billion. “Our teams are delivering better performance in every segment of the business, which is reflected in
The National Association of Manufacturers (NAM) will run a full-page ad tomorrow in the Charleston Post and Courier that exposes the facts about Scott Garrett’s attempts to kill the Export-Import (Ex-Im) Bank. Manufacturers in South Carolina strongly oppose Garrett to be president and chairman of the Ex-Im Bank and urge Sen. Tim Scott (R) to oppose his nomination. “Scott Garrett’s confirmation would be a terrible trade deal for South Carolina manufacturing workers. He is the wrong choice to lead the Ex-Im Bank—the very agency he voted to destroy over and over again while in Congress,” said NAM President and CEO Jay Timmons. “This ad exposes who Garrett really is and urges South Carolinians to tell Sen. Scott to oppose Garrett’s nomination. Jobs for millions of manufacturing workers depend on a strong Ex-Im Bank, and we can’t trust someone like Garrett who is responsible for moving our jobs, our wealth and our factories to other countries.” The ad can be viewed
Fox Business reported that President Trump tweeted the results of a NAM survey Friday showing record-high levels of optimism among manufacturers. The article said that “President Donald Trump on Friday applauded a rosy reading of U.S. manufacturers’ optimism.” Fox Business wrote that “Trump tweeted out a report from the National Association of Manufacturers Friday, which showed that in the second quarter of 2017, 89.5% of survey respondents in the sector were positive about their own company’s prospects.” The article emphasized that the second-quarter report “follows the first quarter’s record-high outlook reading of 93.3%,” making the first two quarters of 2017 the highest two-quarter average for manufacturing optimism “in the survey’s 20-year history.” The article quoted the report saying, “There is a sense that many of the pro-growth policies that businesses have long sought, including tax reform, a major infrastructure package and regulatory relief, among others, might finally come to fruition.” Read President Trump’s Tweet here.
In March, the Manufacturers’ Outlook Survey from the NAM rose to an all-time high in the survey’s 20-year history, with 93.3 percent of respondents positive about their own company outlook. Three months later, manufacturers remain very upbeat. In the latest report, 89.5 percent were either somewhat or very positive about their own company outlook. This pullback in confidence mirrors easing in other sentiment surveys, even as they continue to present an encouraging assessment of overall conditions. In this case, the percentage of manufacturers, positive in their outlook, has averaged 91.4 percent over the first and second quarters of 2017, the highest consecutive two-quarter average in the survey’s history. Recent improvements in sentiment have corresponded with stronger manufacturing activity—another sign that the sector is trending in the right direction. This is especially the case with hiring and capital spending plans, both of which are a good proxy of a firm’s willingness to invest for the future. For instance, respondents predict that
Tax and other policies at the state and local levels change annually and these changes can significantly impact the operations of your business. To avoid unwanted future surprises, join RubinBrown State and Local Tax specialists, along with our special guests, to learn about the changes that have taken place over the last year, and some insight into what we can expect to see this coming year. Associated Industries of Missouri’s President, Ray McCarty, is a confirmed speaker at the event. This seminar will focus on: General overview of the legislative session Tax legislation Economic development Employment legislation Review of recent court rulings and their potential impact If you would like to earn two CPE credits and attend this seminar, please click here to register. You can also find out more information about the event on this page.