St. Louis Post-Dispatch from St. Louis, Missouri • B1

BUSINESS 1 FRIDAY 12.07.2018 I I LTODAY. OM BU I BY JACK SUNTRUP St. Louis Post-Dispatch JEFFERSON CITY A Springfield Re- publican wants to again make Missouri a to state even after two- thirds of voters in August shot down the law. State Eric Burlison, R- Springfield, filed the legislation this month in preparation for the annual session, which starts in January. Republicans overwhelmingly control both the state House and Senate.

In 2017, lawmakers approved similar legislation, which bans union dues as a condition of employment. But unions and allies struck back, submitting more than 300,000 signatures to force a referendum on the law. In August, nearly two-thirds of vot- ers across the state rejected the proposal, dealing a blow to one of former Gov. Eric crowning achievements. It is unclear how much attention Bur- proposal will get during the coming legislative session.

Some Republicans have voiced concern about pushing a measure rejected by so many voters. Burlison, who served in the House from 2009 through 2016, said a vote of the peo- ple should not infringe on freedom of association. would never put religious freedom on the ballot, or free speech on the Burlison said. is a right Missouri voters said no to to Republican lawmaker wants it anyway PHOTO BY SID HASTINGS Chet Bogus and Jane Busby celebrate as results are announced at a gathering of union members involved in the Vote No on the Prop A to campaign in August. FROM STAFF AND WIRE REPORTS Mallinckrodt plan to sepa- rate its generic drug business from its branded products, announced Thursday, will leave St.

Louis with a company focused on manufacturing generic drugs and pharmaceutical ingredients and carrying much of the liability from a legacy of opioid manufacturing. The drugmaker with U.S. head- quarters in Hazelwood plans to spin off its specialty generics business to shareholders by the second half of 2019, capping a two-year effort to look for strategic options for the unit. The business, which accounted for 26.5 percent of net sales in s- cal 2017, markets specialty generic drugs that include a variety of opi- oid-based products. The new company will also in- clude constipation drug Amitiza, which Mallinckrodt added through its acquisition of Sucampo Pharma- ceuticals last year.

The generic business remaining in St. Louis does plan to add five new products next year, the com- pany said. It will take name and employ about 1,600 peo- ple across the company, which will include a U.S. manufactur- ing The company was founded in the St. Louis area 150 years ago.

In addi- tion to its Hazelwood headquarters, the company operates a manufac- turing complex on the north Mis- sissippi riverfront in St. Louis. The company employed about 1,500 people in the St. Louis region as of last year. Mallinckrodt plans to spin specialty generics business BY TAYLOR TELFORD, HEATHER LONG AND THOMAS HEATH Washington Post U.S.

stock markets on Thursday spent most of the day deep in the red in an across-the-board rout triggered by the prospect that a U.S.-China trade deal was in jeopardy. Investor angst was fueled by the arrest of a Chinese executive that further threatened progress on trade, coupled with omens of a recession in the bond market and a steep drop in oil prices. At its low, the Dow Jones in- dustrial average fell 784 points, or 3.1 percent. By the nal hour of trading, it had clawed its way back and closed the day down 79 points, or 0.3 percent. In a tremendous late-day rally, the tech-heavy Nasdaq pulled into positive territory, ending up 0.4 percent or 29 points.

The Standard 500-stock in- dex came back to nish down just 0.15 percent or 4 points. Investors seemed heartened by comments from JPMorgan Chase CEO Jamie Dimon and Christine Lagarde, managing director of the IMF. the actual effects on the ground, you still have a strong Dimon said in an in- terview with CNBC. He stressed repeatedly that the economic fundamentals still look good. Lagard said global slowdown fears are overblown.

a lit- tle bit overdone 3.7 percent forecasts for (global) growth is not Lagarde said, also on CNBC. Markets also were buoyed by news reports that the Federal Re- serve may delay an anticipated December interest rate increase. Oil prices remained down, however. The Organization of Petroleum Exporting Countries began a crucial meeting Thurs- day in Vienna in hopes of agree- ing on a production cut of 1 mil- lion barrels per day. Oil prices are down 30 percent in the fourth quarter on overpro- duction across world producers.

Prices slipped further Thurs- day on fears that Saudi Arabia will not cut production enough to stabilize prices. Anything short of 1 million barrels per day would likely be disappointing for producers. The big three oil producers are now the United States, Russia LATE RALLY RESCUES STOCKS ASSOCIATED PRESS PHOTOS Traders Robert Oswald (top) and Thomas McCauley (center), and specialist Philip Finale (above) work Thursday on the oor of the New York Stock Exchange. Markets were buoyed late by news reports that the Federal Reserve may delay an anticipated interest rate increase this month. STRONG ECONOMY IS CITED AS INVESTOR ANGST EASES unclear whether Legislature will take up measure in new session ONCE DOWN 784, DOW CLOSES OFF ONLY 79; NASDAQ GAINS The American consumer just looking for value these days.

He or she also is looking for values. In a survey by marketing agency Cone Communications, 87 percent of consumers said buy from a company that supported issues im- portant to them. why Star- bucks invests in sustainable coffee farming and Warby Parker donates as many eyeglasses as it sells. Small businesses realize the power of social impact too, but always have the resources to tell people about the good doing. where two St.

Louis startups see opportunity. GiftAMeal, founded in 2014, cre- ated a mobile app that customers use when they dine at participating restaurants. When they do, the res- taurant donates a meal to a charity such as St. Operation Food Search. Good Meets World, founded in 2016, helps companies choose a charity to support with regular do- nations and provides marketing materials, from posters to social- media posts, to publicize the giv- ing.

Its clients have given more than $100,000 to causes that include Stray Rescue and St. Louis Crisis Nursery. Cli Holekamp, who teaches en- trepreneurship at Washington Uni- versity and has advised GiftAMeal founder Andrew Glantz, thinks both startups are timely. Holekamp says the decline of Two startups hope to make money by helping clients make the world better DAVID NICKLAUS St. Louis Post-Dispatch See DOW Page B5 See WORK Page B4 See MALLINCKRODT Page B5 Unit here will have much of liability for opioid manufacturing See NICKLAUS Page B5.