Hello, MBA readers,
As the White House pushes for its goal of 70% of Americans having their first COVID-19 vaccination by the Fourth of July, a new incentive for vaccination has been offered up: free beer. Anheuser-Busch announced Wednesday that, if the U.S. hits that benchmark, it will provide a beer to anyone of legal age with inoculation documentation. The St. Louis brewer joins many national corporations in providing special offers to those who have gotten the jab, but smaller, Missouri-based companies have also offered incentives. On the housing front, a new report shows that Kansas City’s year-over-year housing affordability has taken a big hit. The Kansas City market saw the steepest decline in affordability between March 2020 and this March. Also, a program that would use tax credits to help offset the cost of private schooling for parents is awaiting a decision by Gov. Mike Parson after winning approval from state lawmakers. However, questions remain about some of the specifics of the proposed program.
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AMC shares continue surge
Shares of the Leawood, Kansas-based movie theater operator closed Wednesday at $62.55, nearly double Tuesday’s closing price of $32.04, as retail traders continued to rally around the stock. (Associated Press)
Post Holdings acquires cereal brand for $85 million
The St. Louis-based packaged goods company is buying the ready-to-eat cereal brand of TreeHouse Foods. The deal includes two facilities, as well as inventory valued at $30 million. (St. Louis Business Journal)
Kansas City logistics company acquired
Third-party logistics and supply chain company UTXL sold for about $22.5 million to Phoenix-based logistics and transportation firm Knight-Swift Transportation Holdings. (Kansas City Business Journal)
School choice tax credits await governor’s decision
The program approved by lawmakers before the end of their session last month would direct donations funded by tax credits to help parents offset the cost of sending children to private school. Questions remain about how the system would work. (Missouri Independent)
Overland Park plans for second Whataburger
As the Kansas City suburb prepares for its first location of the Texas-based burger chain, a second location is already up for discussion. In total, five stores are planned for the metro area. (Shawnee Mission Post)
Kansas City’s independent retailers have proven their adaptability during the pandemic, according to a Shopify survey of hundreds of retailers. Nationally, 44% of independent retailers started offering local delivery during the pandemic, and 37% provided curbside pickup. In Kansas City, nearly half of retailers launched a program to provide at least one of those options.
Say that again
“We’ve all been in this kind of collective experience together for a year plus, and you get the vaccine and kind of expect something more. There’s no parade, there’s no fireworks, nothing.”
That’s David Hayden, communications manager for Up-Down, an arcade bar in Kansas City. Hayden pitched the idea for vaccine incentives to Up-Down’s owners, making the business one of a growing number to reward patrons for getting their COVID-19 shots. Hayden said Up-Down’s owners went for the idea right away “because it was the right thing to do.” They’re not the only ones, the Beacon reports. Some Kansas City-based companies are offering bonuses or benefits for vaccinated employees, while others, like the Westport Flea Market, are offering special deals to customers that got the jab.
Kansas City experienced the greatest decline in housing affordability nationally from March 2020 to March 2021, with a 16.2% year-over-year increase in the real house price index, according to a new report. Low mortgage rates, high household income and a supply-demand equilibrium are all necessary to keep the index down.
Budweiser giving away free beer if America can reach the 70% goal of at least 1 vaccination by July 4th. If this doesn’t motivate Americans nothing will… pic.twitter.com/R4H2NtdQpm
— teatime75 (@teatime75) June 2, 2021
Twitter users offered a range of responses Wednesday after Anheuser-Busch announced that if 70% of American adults are at least partially inoculated by President Joe Biden’s July Fourth goal, it will buy a round of beer for anyone 21 or older. The company joins many others in offering incentives for inoculation, the Associated Press reports, but some hope that the offer of a cold one on the house — which comes with some caveats — will give Americans the push they need.
Hello, my name is
This St. Louis-based advertising technology startup plans to create over 100 technology jobs over the course of the next three years. The positions will be based in downtown St. Louis and include engineering, sales, marketing, operations and data science roles. Founded in 2017, the startup makes data tools designed to help clients coordinate advertising campaigns across multiple screens. The company said it evaluated multiple markets before deciding to stay and build in St. Louis.