Price cuts galore on mega-mansions

For deep-pocketed plutocrats purchasing trophy homes, times are good. There is a glut of mega-mansions on the market — at deep discounts.
On Realtor.com alone there are currently 6,610 listings of houses with interiors larger than 10,000 square feet.
"Buyers are not used to having this amount of inventory," said Russ Filice, an agent […]

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Biogen Idec moves forward with trials

Biogen Idec has successfully completed phase 1 and 2a safety trials of its new hemophilia B treatment rFIXFc and has begun phase 3 trials.
The Weston, Mass.-based company (NASDAQ: BIIB) has developed the new drug with Swedish company Orphan Biovitrum AB (STO: SOBI).
The treatment has the potential to improve the lives of hemophilia patients by […]

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ASU MBA students tackle state budget

About 40 executive MBA students from the W.P. Carey School of Business at Arizona State University learned from state lawmakers when they participated in a two-day mock budget exercise at the Arizona Capitol.
Students played the roles of legislators and lobbyists as they tried to pass their own mock budget on the Senate floor.
Gov. Jan Brewer, […]

AHC secures $16M for affordable housing

AHC Inc. has secured $16 million in financing from SunTrust Bank for pre-development and construction of more affordable housing projects in the region, and the group is on the prowl for new sites.
With the largest bank agreement it has secured to date, AHC hopes to use the funds to act more quickly when it identifies […]

Sinclair dinosaurs no longer walk the earth in St. Louis

Area dinosaur hunters are out of luck after the last of St. Louis’ green apatosauruses headed west this month.
The men looking for the creatures — and men, they invariably seem to be — aren’t paleontologists. They’re collectors of gas station memorabilia searching for their Holy Grail — fiberglass statues of the Sinclair Oil […]

State Department approves San Antonio as passport-processing center

The San Antonio City Clerk’s Office has been approved to serve as an official U.S. Department of State Passport Acceptance Facility, making it the only municipality in Bexar County to hold this designation.
Currently, the U.S. Postal Service processes Passports for the State Department at a number of San Antonio area post offices. City Clerk Leticia […]

Chrysler’s coming product offensive

Fiat-Chrysler CEO Sergio Marchionne must have gotten tired of all those questions about Chrysler’s empty product pipeline.
Because in a conference call with analysts and the media this week, he laid out Chrysler’s launch schedule for the rest of 2010 and dropped some hints about 2011.
If the pipeline isn’t exactly gushing, it is pumping a […]

St. Louis-area foreclosures ease in first quarter

Evidence continues to mount that the mortgage crisis may be easing.
The number of houses facing foreclosure in the St. Louis region dropped to its lowest level in at least two years in the first quarter, according to numbers out today from RealtyTrac.
While still high by historic standards, the number of St. Louis-area […]

American Railcar Q4 profit rises 39%

American Railcar Industries saw its fourth-quarter profit rise 39 percent but booked less than half the revenue it saw in the prior year’s quarter as railcar shipments fell.
For the quarter ended Dec. 31, the company reported net earnings of $10.5 million, up from nearly $7.8 million in the fourth quarter of 2008. American Railcar said […]

Calpine narrows 4Q loss

Despite lower revenue due to sharply lower commodity prices and power generation nationwide, Calpine Corp. on Thursday said it had reduced its losses in the fourth quarter of 2009 compared to the year-earlier period.
Houston-based Calpine (NYSE: CPN) reported a net loss of $43 million, or 9 cents a share, for the three months ended Dec. […]