Missouri

Neiman Marcus Joins Other Big Bankruptcies

Upscale department-store chain Neiman Marcus has filed for Chapter 11 bankruptcy, joining a list of companies that have filed for bankruptcy recently, due in part to COVID-19 pain. Neiman's closest store to the Kansas City area is in St. Louis,… more

Q&A With … Stephen Penn of KPMG

Stephen Penn is the office managing partner for KPMG in Kansas City. Q. Six weeks into the carnage, what's the damage assessment report you would deliver on the state of regional business? A. There’s probably a lot more going to… more

Credit Card Consumers Well Positioned Before COVID-19

Before the COVID-19 pandemic hit, consumers were luckily in a good place, generally, in terms of paying their balances and making overall payments, according to the American Bankers Association. During last year's fourth quarter, for example, a record number of… more

Sealy Buys Nine-Building KC Industrial Portfolio

Sealy & Company, a Dallas-based commercial real estate firm, has purchased nine industrial buildings in Kansas City totaling just under 560,000 square feet. One of them is in Executive Park, in the industrial area of the Northeast neighborhood and is… more

City Revisiting Plans for Hotel in Former KC Fed Bank Building

Though no action was taken on the measure yesterday by a city council committee, funding for a hotel in the former Federal Reserve Bank of Kansas City, at 925 Grand Blvd. The current proposal, known as Grand Reserve, by developer… more

Unemployment Claims Better, but Still Bad

Just under 3.2 million filed for unemployment benefits the week ended May 2, according to the weekly report by the U.S. Department of Labor. It's an improvement from the prior week by about 677,000, but the insured unemployment rate was… more

Car-Rental Companies Hit by COVID-19

The major car-rental companies are seeing major decreases in sales and profits due to flight occupancy being down 95 percent on many carriers. Hertz recently missed a payment to a group of lenders and has until May 22 to reach… more

Auto Dealers Lose $2.6B in Two Months

Auto and truck dealerships lost $2.6 billion in potential profits from the beginning of March through the start of May, says a recent J.D. Power report. Customer purchases were down $41.3 billion during the period, with new-vehicle purchases dropping $26.3… more

U.S. Hospitals Losing More Than $50B Per Month

A new report by the American Hospital Association says that between March and the end of June, hospitals are projected to lose $202.6 billion, or an average of $50.7 billion per month, due to COVID-19 challenges. "These challenges have created… more

Eastern Jackson County Releases Recovery Phase One

Jackson County government has released its phase-one recovery plan for the eastern part of the jurisdiction. Starting on May 11, retail stores will be able to reopen at 25 percent occupancy for store under 10,000 square feet and larger ones… more