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St. Louis Business & Technology News
www.slfp.com/SLFPBIZp.htm "When you think Saint Louis, think Saint Louis Front Page," a weekly publication covering the news and events in the greater St. Louis area. 
St. Louis Front Page P.O. Box 1354 St. Louis, MO 63188 Voice: 314-771-0200 Fax: 314-771-0300 To submit news, contact: editor@slfp.com To advertise, contact: advertising@slfp.com 
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Missouri Is a Bargain for Business JEFFERSON CITY, (SLFP.com) August 21, 2005 - Missouri is among the most inexpensive places to do business in the country giving it an advantage in attracting new jobs and industries to the state, according to a study conducted by the Milken Institute. The cost of doing business in Missouri is about 13 percent below the national average index calculated by the Milken Institute, an San Diego-based economic think tank that calculates the index based on wage costs, tax burden, electricity costs and industrial and office rent costs. An index of 100 means the state is equal to the national average, while a lower ranking indicates a state is less expensive for businesses to operate. Among the 50 states, Missouri ranked 36th with a cost of business index of 86.8 while Illinois ranked No. 13 with an index of 103.7 and Kansas ranked 33rd with an index of 88.8. "Missouri's ability to attract high quality jobs and create an even stronger entrepreneurial climate is closely tied to the low cost of doing business in our state and this study confirms we have a competitive advantage in this area," said Greg Steinhoff, director of the Missouri Department of Economic Development. "Gov. Matt Blunt's commitment to improving the quality of life of all Missourians through job creation and economic development coupled with this type of national ranking demonstrates further how strongly Missouri means business." Missouri scored below the average in all categories. The state's wage per employee was $33,284 compared to the U.S. average of $37,154. Hawaii, New York and Massachusetts were the most expensive states in which to do business while South Dakota, North Dakota and Iowa were the least expensive. Digital Gaming in America Doubles NEW YORK, (SLFP.com), August 21, 2005 - According to Ziff Davis Media's annual "Digital Gaming in America" survey of more than 1,500 randomly selected U.S. households, cell phone gaming continued its meteoric rise in 2005: the number of households engaged in cell phone gaming nearly doubled again, jumping from 16.3 million last year to 27.9 million this year. The 2005 Digital Gaming in America study reveals a number of surprising shifts in mobile and portable gaming habits and consumer preferences. Mobile phone gamers in the study reported spending 19 minutes per gaming session. They spent an average of $13 on mobile phone games in the last 60 days, and core gamers spent even more on mobile phone games -- $19 in the last 60 days. ("Core gamers" are defined as those who bought four or more games in the last six months and play ten or more hours per week.) Respondents who do not play games on their phones cited small screen sizes as the primary deterrent (cited by 49% of respondents); they also cited a lack of desirable games (46%) and high costs (35%) as reasons they don't yet play cell phone games. The study also tracked future purchase intent for both mobile phones and portable gaming devices, revealing strong sales prospects. 86% already own a cell phone this year, and of these individuals, 48% play games on their mobile devices. But the mobile phone market for gamers is by no means saturated: more than 50% of gamers plan to purchase a new cell phone within the next 12 months. And four out of ten gamers are considering purchasing a dedicated portable gaming device such as the Sony PSP or Nintendo DS in the next twelve months; even more core gamers (63%) are considering a portable gaming device. The Nintendo DS currently rules the next-gen portable gaming market, but if gamers' stated purchase intents in the study are any indication, the Sony PSP may eventually win the portable war: while only 3% of all gamers own a Sony PSP now, 14% plan to buy one in the next twelve months. By comparison, 6% of all gamers own a Nintendo DS, but only 6% plan to buy one in the next twelve months. Weaker Back-to-School/Back-to-College Sales Forecasted NEW YORK, N.Y. (PRNewswire) July 31, 2005 - High consumer confidence and low inflation will be offset by factors such as deflationary pricing and a potentially negative savings rate, resulting in a 1 percent decline in back-to-school/back-to-college sales in 2005 compared with 2004, according to a forecast released today by Standard & Poor's, the largest provider of independent equity research in the United States. The study, Retail Outlook: Back-to-School/Back-to-College 2005, cited several factors for Standard & Poor's neutral outlook for the sector. In addition to the aforementioned high levels of consumer confidence and low inflation, other positive factors contributing to retail spending include strong employment trends, a heightened interest in fashion by both sexes, smart merchandising and pricing by discounters, new footwear functionality, continued momentum in hot consumer electronics products, a strong denim cycle, and projected increases in primary and secondary school and college enrollment (albeit the high spending college freshmen and juniors are projected to increase at a slower pace than in 2004). Unfavorable indicators include deflationary pricing, a negative savings rate for August forecast by S&P, and rising oil prices that may lead to less discretionary income for shoppers. Standard & Poor's Equity Research Services is neutral on back-to-school/back-to-college retail sales for 2005, and projects total sales of about $40 billion. Of this, S&P anticipates consumer electronics will garner the largest share of the retail market at 26 percent, or $10.3 billion, followed closely by apparel sales at 24 percent ($9.6 billion). Both figures represent declines from last year -- 3 percent in electronics and 4 percent in apparel -- although back-to-college electronics sales specifically are projected to rise 9 percent. "Historically, spending for back-to-school is a closely watched indicator of consumers' willingness and ability to spend, and has been a good indicator of what consumers will look to spend during the holiday season, said Marie Driscoll, head of the retail group at Standard & Poor's Equity Research Services." "Overall, despite our neutral stance, we see some winners in the electronics, apparel and footwear categories as retailers kick off fall 2005." Within categories, Standard & Poor's forecasts Best Buy and Circuit City as the best-positioned consumer electronics retailers, based largely on increased revenue from services. Teen apparel mainstays Abercrombie & Fitch, American Eagle and Aeropostale are cited as well-positioned for success this fall, along with Nike and department stores J.C. Penney and Kohl's. In footwear, S&P expects sporting goods retailers that have become adept at appealing to young shoppers, in particular Finish Line, to succeed. Finally, giant retail outlets Target and Wal-Mart are projected to do well as the one-stop shopping destinations of the masses. Return to St. Louis Front Page  
The Saint Louis Front Page is owned and maintained by the Moore Design Group for the sole purpose of disseminating news and information about the Metropolitan Saint Louis area. Text or graphics may not be copied, rewritten or distributed in any manner whatsoever without written permission. For more information, contact editor@slfp.com All rights reserved world wide © 1996 - 2008 Moore Design Group . |
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