On the Street

As competition heats up in Springfield’s banking investments industry – with The Signature Bank luring Nadia Cavner and U.S. Bancorp’s subsequent lawsuit (see cover story) – a new study shows banks aren’t capitalizing on their securities capabilities. A recent Maritz Research survey shows that only 10 percent of investors polled claim that banks are their primary investment provider. It further shows that 70 percent of investors select a full-service brokerage firm for its range of investments while only 59 percent of bank customers select their bank for this reason. But there is a bright side for banks: 93 percent of respondents state that their bank broker has earned their trust, and 86 percent say their bank broker treats them ethically and honestly. Banks have been allowed to sell securities to the public since 1999.

Images in Tile on HGTV

Joplin-based Images in Tile LLC played hostess to Home & Garden Television on Sept. 15 as the network recorded footage for “I Want That!” Images in Tile owner Paul Whitehill said TV crews were at his office, 1520 W. B Street, beginning at 9 a.m. to interview him and film the tile murals the company custom creates. Then they headed off to two local clients’ homes before filming wrapped up at 6 p.m. “They say we’ll have about a two-minute segment on there,” Whitehill said, adding that he is thrilled about the exposure. “Getting your product mentioned on HGTV is almost like getting your book mentioned on Oprah.” “I Want That!” airs at 7:30 p.m. on Wednesdays and features innovations for the home. Whitehill is told the show featuring his company will begin airing in October and will air probably a dozen times in all. (Go to sbj.net for more information on Images in Tile projects.)

Missouri cigarette tax

Missouri’s cigarette tax of 17 cents per pack sank to the second lowest rate in the country, 73 cents below the national average, after North Carolina’s tax increase to 25 cents per pack took effect Sept. 1. Only South Carolina levies a lower cigarette tax than Missouri, which has not increased its rate since 1993, according to the Missouri Budget Project, a nonprofit, statewide fiscal-analysis group. Budget Project officials contend that a 30-cent increase to the tax would bring Missouri’s rate to about half of the national average and would result in about $165 million in increased state revenue. While a grassroots effort is under way to propose such an increase, Gov. Matt Blunt’s office has said the governor does not favor any type of tax increases on citizens.

Economic Conference

The second annual Economic Outlook Conference is Sept. 29 at University Plaza Convention Center. The event, presented by the city of Springfield and Springfield Business & Development Corp., begins at 10 a.m. with a panel discussion of Springfield’s health care, education, retail and manufacturing industry leaders. A keynote speech from futurist Lowell Catlett will follow. General admission is $40 and $30 for SBDC member investors. Registration is available online at www.springfieldchamber.com.