Business Digest

By Logan, Tim | St Louis Post-Dispatch (MO), October 16, 2012 | Go to article overview

Business Digest


Logan, Tim, St Louis Post-Dispatch (MO)


Emerson boosts investment abroad - Emerson Corp. continued its growing investment in the Middle East on Sunday when it announced a $25 million partnership with Saudi Arabia's King Fahd University of Petroleum and Minerals. The Ferguson-based manufacturing firm will create the Emerson Centre for Technology and Innovation, a training facility focused on services and support for the Saudi petroleum and minerals sector. It will be in the Dhahran Techno Valley in the city of Dhahran, on the Persian Gulf near Bahrain, and is designed to train Saudis in the oil and gas industry. Emerson says the facility will start construction in 2014 and will eventually include about 150 people working directly on research and development. Emerson had total sales of $1.2 billion in the Middle East and Africa in 2011, and it sees the region as a potential area for growth - especially in its Network Power, Process Management and Climate Technologies divisions. (Tim Logan)

Cape Girardeau casino to open Oct. 30 - Isle of Capri Casinos said Monday its $135 million casino in Cape Girardeau, Mo., will open Oct. 30. The company, based in Creve Coeur, has steadily moved up the opening date. Isle of Capri had initially planned to open the casino around Thanksgiving. Arnold Block, Isle's chief operating officer, said in a statement that employees have worked diligently for months to prepare the casino for opening. The Cape Girardeau casino will have 1,000 slot machines, 28 table games, five restaurants and a 750-seat multipurpose room. Employment is projected to top 450. Isle of Capri owns and operates 15 casinos in Mississippi, Louisiana, Iowa, Missouri, Colorado and Florida. Isle Casino Cape Girardeau will operate with Missouri's 13th, and final, casino license. The license became available in 2010 when Pinnacle Entertainment closed its President Casino on the St. Louis riverfront. (Tim Bryant)

Missouri's college savings plan scores low - Morningstar, the investment analysis company, on Monday gave Missouri's college savings plan a "neutral" rating, its fourth-lowest rating out of five. …

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