McCaskill optimistic on Chinese cargo flights — Sen. Claire McCaskill, D-Mo., said Tuesday that she is optimistic that cargo flights from China to Lambert-St. Louis International Airport will begin next summer. McCaskill returned Monday night from a weeklong trip to China, and Tuesday told the Regional Chamber and Growth Association that the Chinese see Lambert as a good place to launch cargo service in the Midwest. More delegations are planned here this fall, and four Chinese airlines are studying routes. The government will likely choose one airline to start running flights twice a week, and the project could grow from there. (Tim Logan)
Casino license scramble is now down to four — The list of contestants for Missouri's 13th casino license is already down to four. Less than a week after five companies filed applications for the license, the Missouri Gaming Commission rejected one — from Sunway Gaming LLC in Sugar Creek — for being too incomplete, an agency spokeswoman said Tuesday. That leaves four applicants, including two in the St. Louis region. The Gaming Commission also set tentative dates for public hearings on the projects, with one in St. Louis on Sept. 28. (Tim Logan)
Esco acquires Colorado company — Esco Technologies Inc. of Ladue announced Tuesday that it has acquired Xtensible Solutions Inc., a provider of information management systems based in Greenwood Village, Colo. Terms of the deal were not disclosed. Xtensible provides information management systems and consulting services to the utility industry. Esco makes meter-reading systems for utilities, filtration system components for the aviation industry and other engineered products. (Robert Kelly)
H-P is suing ousted chief executive — Hewlett-Packard Co. is suing Mark Hurd, the chief executive it ousted last month, to stop him from taking a top job at rival Oracle Corp. The law, filed Tuesday in a California state court, came a day after Oracle hired Hurd as co-president to help lead the database software maker's efforts to steal business from H-P. Hewlett-Packard claims Hurd won't be able to perform his job at Oracle without spilling H-P's trade secrets and violating a confidentiality agreement. This type of complaint isn't unusual in the technology world, nor is the confidentiality agreement that Hurd had signed as part of a severance package from H-P that could top $40 million.
Bristol-Myers Squibb to acquire biotech company — Bristol-Myers Squibb Co. says it will acquire biotechnology company ZymoGenetics Inc. for $885 million, or $9.75 per share. The New York drugmaker says its bid is worth $735 million excluding ZymoGenetics' cash on hand. Shares of ZymoGenetics closed at $5.51 Tuesday, making Bristol-Myers' offer a premium of 77 percent. Both companies have approved the deal, and the board of ZymoGenetics is recommending that shareholders support the bid. ZymoGenetics is based in Seattle and makes Recothrom, a drug used to reduce bleeding during surgeries. It is also developing a potential hepatitis C drug and experimental treatments for skin cancer.
More time granted in WaMu case — A Delaware judge on Tuesday granted a request from a court-appointed independent examiner for more time to review claims and assets in Washington Mutual Inc.'s bankruptcy. The examiner's request for more time prompted WMI to postpone Tuesday's scheduled hearing on whether to approve the disclosure statement describing the bank holding company's proposed reorganization plan. The disclosure statement hearing, a critical step in Chapter 11 reorganization, is now tentatively set for Sept. 24.Judge Mary Walrath appointed the examiner after WMI shareholders said they had been stonewalled in trying to obtain information about a proposed suit settlement.
From staff and wire reports
