Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

RFT owner eyes sale * Voice Media Group, the parent of the local alternative news weekly Riverfront Times, has hired a consulting firm to examine new strategies for the company's publications. Those options include the purchase of other publications or the sale of those currently owned by the firm. Voice Media also owns the Village Voice in New York and a dozen publications in other U.S. cities. The firm hired Dirks, Van Essen & Murray and its subsidiary CAL DVM to explore its business options. The Riverfront Times was founded in 1977 by Ray Hartmann, who, along with co-owner Mark Vittert, sold the newspaper in 1998 to New Times Media. New Times, after a 2006 merger with the chain that owned the Village Voice and other weeklies, was renamed Village Voice Media. Riverfront Times editor Chad Garrison could not be reached for comment.

Credit union taps new CEO * Anheuser-Busch Employees' Credit Union has named Robert McKay its new CEO, effective March 1. The St. Louis-based credit union, which is not affiliated with brewer Anheuser-Busch, said Tuesday that its current CEO, Dave Osborn, is retiring. McKay was named COO of Baxter Credit Union in Illinois in 1995. ABECU, which also operates Purina Credit Union and American Eagle Credit Union, has 30 locations nationwide, including 14 locally.

A-B exec heads to SLU * Anheuser-Busch executive Gary Rutledge is joining St. Louis University's law school as professor of practice of the school's William C. Wefel Center for Employment Law. Rutledge, vice president and zone general counsel for A-B InBev's North American zone, is retiring from the brewer at the end of January. He'll begin teaching in the fall and will develop new courses including "Regulation of Alcoholic Beverages," the school said.

Commerce profit dips * Higher net loan charge-offs and increased employee costs led to lower fourth-quarter profits for Commerce Bancshares. Commerce reported a net income of $62.7 million, or 62 cents a share, for the fourth quarter, down from a $65.9 million, or 65 cents a share, a year earlier. For the full year, Commerce's profit totaled $261. …

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