Anheuser-Busch InBev employees are buzzing about imminent job cuts in the wake of InBev's recent acquisition of St. Louis' corporate crown jewel. The company today announced that it would cut 1,400 jobs in the United States, about 75 percent of them (1,050 jobs) in St. Louis. According to the Associated Press:Anheuser-Busch-InBev says it will cut 1,400 U.S. jobs -- or 6 percent
of its U.S. work force -- as part of plans to streamline the beer
company.It said three quarters of the jobs
Via the Associated Press:
Producer James L. Nederlander says he has acquired the rights for a stage version of Michael Jackson's iconic music-video spoof of horror films. The show will include songs from two of the pop king's best-selling albums, "Thriller" and "Off the Wall."...
"I love the idea of making 'Thriller' a musical. Girl meets boy, they fall in love, boy has big secret, now what?" said Nederlander, head of the company that owns nine Broadway theaters. Not gonna lie, I'm already kind
MSNBC reports that Starbucks will close 300 additional stores and cut 6,700 jobs, both at those closed stores and at its corporate offices. The coffee giant saw its profit drop 69% during the first quarter of its fiscal year. No word yet on where and when the closings will occur.
Photo: Jennifer SilverbergSt. Louis GalleriaThe company that owns St. Louis Galleria filed for bankruptcy protection today. This per the St. Louis Business Journal:General Growth Properties Inc., owner of the Saint Louis Galleria, has filed for Chapter 11 federal bankruptcy protection to reorganize.General Growth listed $29.5 billion in total assets and about $27.3 billion of debts in its bankruptcy petition, making it the largest real estate bankruptcy in U.S. history.The company, owners of 200
flickr.com/photos/tojosanThe Wall Street Journal features a front-page story today on the shakeup since InBev's acquisition of Anheuser-Busch last year.The paper notes that the brewer managed to increase its market share three-quarters of a percentage point in the first quarter of this year (the first full quarter since the acquisition). However, not everyone over on Pestalozzi Street is happy with the penny-pinching that's driving productivity.
Sales of the "Blue Train" are heading for the mountains.Anheuser-Busch InBev posted strong gains yesterday for the first quarter of 2009. The results surprised some analysts who thought the weak economy and transition pains from InBev's 2008 acquisition of Anheuser-Busch could disrupt sales. Instead the combined company saw revenue increase 4.7 percent and liquid sales grow by 0.9 percent. But the real news came by way of the Wall Street Journal this week, which reported that the company's Busch
photo by Jennifer SilverbergWilliam Chignoli on the steps of ASC's clinic on South GrandJust two months ago, the low-cost immigrant healthcare center La Clinica closed its doors owing to lack of funding. Now Acción Social Comunitaria, a local nonprofit that offers a broad array of social services for low-income minority groups, is "on hold" after William Chignoli, the organization's founder and executive director, resigned from his leadership position last week.Chignoli, who was profiled i
The St. Louis FedWhen did it all begin? This financial mess we're in? And what were the major events that have defined it? A new timeline feature available on the website of the Federal Reserve Bank of St. Louis helps answer that. The voyage begins in late February 2007 when Freddie Mac announces that it will no longer buy risky subprime mortgages. A month later one of the biggest lenders of subprime mortgages, New Century Financial Corporation, files for bankruptcy. What follows is collap
